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RE: A short thought on future Ripple (XRP) price...

in #ripple • 7 years ago

There are a few major points that you're missing here...

  1. Ripple doesn't have an activation fee... GateHub does. And that's only for active trading. You can still send XRP to the wallet.

  2. The activation fee is tied in with the price of Ripple. When GateHub was first announced and everyone migrated, the activation fee was 50 XRP. It's now down to 20.

  3. Ripple Labs doesn't care about you as an individual. XRP wasn't developed for personal use- it's developed for financial institutions and large corporations. So depositing 20 XRP to your account is like Chase requiring you to have $50 to open a checking account, which is nothing when you're talking about FIs buying 20M XRP to maintain an active trading account.

Don't get so hung up on small details that you miss the big picture. Their end game isn't to have people buying and holding with the hopes of it going from $.20 to $1. Their end game is being the premier cross border payment system for banks in the US, Europe, and Asia sending each other hundreds of millions of dollars daily.

7 years ago in #ripple by
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     7 years ago (edited) 

    "Ripple doesn't have an activation fee... GateHub does. And that's only for active trading. You can still send XRP to the wallet." - Well any or most wallets have this 20 XRP locked up - also my cold storage paper wallet - I do not trade and have no GateHub account ;-)

    "There are a few major points that you're missing here..Don't get so hung up on small details that you miss the big picture. ..." - I do not miss your arguments here, because my text was not an analysis of XRP and its use. Therefore the title "A short thought on future Ripple (XRP) price..."

    It was just one particular point I picked out. I think your arguments are right, but not new for most interested into xrp.

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       7 years ago (edited) 

      Well you did say "For one simple fact..."

      You based your entire article of there being no way for XRP to reach $1 because of the one fact that a single wallet requires a 20 XRP deposit, which you described as a developer imposed limit. I was just responding to that argument.

      By the way... which cold storage paper wallet are you using?? I don't currently have one, but I'm looking into my options.

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       7 years ago (edited) 

      Hey,
      you can use this site http://ripplepaperwallet.com (offline) or this https://ihomp.github.io/ripply-paper-wallet/coldwallet-SHA1-cdfbe3260927b6073180a1099f02ef99ce0495e8.html to create a paper wallet.

      (Also here, the 20 XRP will be locked to the adress)

      The current balance I check with bithomp: https://bithomp.com/explorer/

      It is quite difficult to withdraw from a xrp paper wallet - one solution is one of the light ripple clients ... never tried to withdraw so far :-)

      Cheers