Yeah. The more research I do the more doubt raises. However at its current price I'll be on the come up if it hits a measly $5
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
Yeah. The more research I do the more doubt raises. However at its current price I'll be on the come up if it hits a measly $5
What makes it different is its a coin that can't be mined and it's for a settlement of a transaction, not like the others.
I think he meant how is it beneficial for our bottom line.
SWIFT has been the system of transferring currency for the longest. When one bank wants to transfer X to another, there used to be a system of many other institutions in between putting the funds to the other point. Over the time of 1-5 days, they use that money thru overnight swaps and can make tons off of say like 1m being moved, someone can make money off if it, meaning those intermediary banks. It's been a long time system of cronies and they are enacting a crypto block chain system. My question is, is Ripple is what they are using or their own internal system.
Oh well like I'm saying, I just hope that will be SWIFT’s backbone which we should hopefully benefit from.
I see I see; and thats why I feel like the banks really dont want to change though; they will lose money; but it seems like the customer/corporation wants this change; another point is the banks dont use their own internal systems now; they use Swift right; so it seems Ripple is trying to be the "swift" of the now and future; my question though is is Ripple just limited to the banking industry? they are all sorts of other industries that seem like they can benefit from blockchain technology; and if its not limited and can catch on in other industries; I dont see how this shit doesnt shoot up to $100 or more...
You are correct; a great read; its interesting to see if Ripple can replace Swift; if it does, look out; shit is going to blow up!!!
Because I'm also new to this, I can't explain everything but as you know there are other coins that have different functions. Microsoft for example was/is interested in the ethereum platform, litecoin seems to be considered Bitcoin 2.0 and Monero is considered to private and maybe more so supported by people who may want to take part in illegal activities or simple not be tracked like the original idea of bitcoins.
The banking industry seem to be interested in the ripple platform/ledger but not necessarily xrp itself. Some banks as well as other industries want to create there own cc and Ripple doesn't force anyone to use xrp with there platform.
Also, Ripple labs is trying to be centralized which goes against the ideology of crypto currency. This may be why the price is so low even though they seem to be making progress with major banks. For example, once Microsoft mentioned they were interested in the ethereum platform, the price went up of that news alone.there is also so much xrp that it would take a lot of buying to move it to the $100 level
Last edited:
Nothing, but not all countries have a crooked Federal Reserve Bank running the financial show.
It seems some Banks are using their own internal system but that system can't be used with OUTSIDE banks. Ripple will allow that. To actually settle debts, transfers and payments to all Banks on this uniform system.
Second, the time period you speak of is called a "Float" which translates to the Bank basically Stealing your money for 1-5 days.
Yes Ripple is trying to compete with SWIFT.
Like I said before, I'm hoping for a buyout or merger somehow. SWIFT has their backs up against the wall right now but are the Kingfish of the industry. In your experience what usually happens when a big company in threatened in such a manner? Merge or Buyout!
Ripple can be used for ANY settlement system, not only banks, just like Bitcoin.... Western Union is shaking in their boots right now cause all this is bad news unless they can get skin in the game NOW.
All y'all talking about how this ain't gonna work and doubting.......can I have yall XRP please 
DayAll y'all talking about how this ain't gonna work and doubting.......can I have yall XRP please
Pipe
California
We doing all the dreaming up in this bitch lol
Hope this goes well
Yes, here's also a good article explaining the SWIFT vs Ripple concepts:
https://www.linkedin.com/pulse/ripple-vs-swift-payment-revolution-david-blair
This is why it takes so long thru SWIFT and their cronies in the banking system all making money off of each step in an intl transfer
Ripple cuts that BS out
Guyver hit the nail on the head, especially the part I highlighted
From what I read, it seems the banks are more interested in the Ripple block chain technology/platform, not the actual ripple coin
So I don't know how that will translate as far as price increase or decrease
Bottom line is there are only a few things thats going to cause the price of ripple to increase
The banks adoption of the ripple platform AND coin over the SWIFT platform
And Western Unions involvement in the ripple platform and coin
Because most people in the crypto community do NOT like ripple b/c it completely goes against the decentralized system that bitcoin is about
Last edited:
Think this Basel III completion has a lot to do with things also for them to finalize agreements between banks and the Bank of Int'l Settlements.
As far as them ironing out what will be the standard. SWIFT isn't up to par and they don't want the good ole boys out the picture as to how they normally all get a piece of every global transaction. They aint having it.
This was to complete Jan 3rd and was pushed back to an unknown date...
http://www.risk.net/risk/news/2479886/basel-iii-completion-date-pushed-back
As far as them ironing out what will be the standard. SWIFT isn't up to par and they don't want the good ole boys out the picture as to how they normally all get a piece of every global transaction. They aint having it.
This was to complete Jan 3rd and was pushed back to an unknown date...
http://www.risk.net/risk/news/2479886/basel-iii-completion-date-pushed-back
And see this is the European Central Bank from 1/16/17, these mofo's are scared shitless about digital money, article isn't about Ripple, just digital based money period. It hurts their entire system so they speak badly on it. And the ECB runs a lot in the entire global financial system.
https://www.ecb.europa.eu/press/key/date/2017/html/sp170116.en.html
https://www.ecb.europa.eu/press/key/date/2017/html/sp170116.en.html
I was dreaming about this shit a lot; and only reason why I invested initially because I was like well I buy dumb shit so might as well put some money into something that can possibly make more money; but then I started reading more and more about this shit; started understanding more and more about this; now I went from dreaming to planning; because now I dont see how this shit doesnt take off/blow up; everything points to it going up very....Man listen; If a buyout or merger happens we gonna be like
; and if/when other industries start using ripple, we gonna be like; From what Im reading, Swift is in trouble; Like taxis companies and jc pennies/sears and circuit citys etc etc, they are in trouble; it will be a merger or buyout for sure; if not, Ripple I think will become dominant and Swift will fold like other outdated companies; and then we gonna be like I dont think the amount of xrp that out here hinder the price; I also think theres alot because some ripple is destroyed/used every time a transaction takes place; A poster talked about it a few pages ago; I think the price is low because its not really a crypto currency and people dont really know what to make of it yet; people are not seeing the value in ripple possibly being the backbone to all sorts of industry payment systems; man listen, I dont care how much ripple is out there; if they become the dominant player to these backend transactions; that shit will be worth more than bitcoin!!!!!!!!!!
ya I was thinking about it last nite...the technology is gonna take off...not sure about the currency...it'd be cool if shares of the company were available but that's not an option right now...anyway I'm @ 150k deciding if I should go to 250 or just chill w/ what I have
Man listen; If a buyout or merger happens we gonna be like
Exactly, They see this is a BIG threat. I follow Ripple on Twitter
they always going at SWIFT.
I can't say what the future holds but the amount of xrp is very important to the price.even though this isn't a stock the principal of dilution and market cap still applies.
I'm not going to pretend I know much but we are very much depended on banks actually using xrp and not just the ripple lab platform.I've read that the amount of xrp is in the billions. However if we consider that banks move trillions of dollars the amount of xrp may very will be a none issue. Once you add in hype from people who find out once the price is moving and the early risk takers will be rewarded.
coinbase ---> kraken
I buy a percentage of bitcoins from coinbase...send it to kraken then convert it to ripple...coinbase lets me spend $300/wk using my credit card
ya man...had another dream about this shit last nite...this dream was more reasonable than my first dream tho...dreamt that it shot up to $6
*edit*
I even dreamt of the perfect cashout strategy...woke up and had to write it down...unfortunately it requires 1,000,000 ripples to pull it off...
cash in 100,000 ripples if it hits $1 = $100,000
cash in another 100,000 ripples if it hits $5 = $500,000
cash in 200,000 ripples if it hits $10 = $2,000,000 (@ this point I can fucking quit working)
cash in another 200,000 ripples if it hits $15 = $3,000,000 (I think this is where it'll top out)
...and I'd still have 400,000 ripples that I can just leave in there to see how far that shit can go
Last edited:
GOOD...GLAD THEY WERE USING THEIR BRAIN. actually as a package deal, this works great for XRP. im going to hold up at 100k until I have more info. I got some bitcoin on standby for immediate exchange if this take off.
I don't know if that is a fact. From everything I've read so far banks have the option of not using xrp. Now it could be that some how xrp will still play a role in the background but I haven't read that and honestly I don't understand enough about the technology.
Granted everyone here should research things for themselves before investing anything. We should still do our best not to mislead anyone.
Ok this is one of the majors pushing XRP hard and integrating it into banks
http://www.r3cev.com/
and here's the news of them closing the biggest round of investment from the banks at $150m in backing.
http://www.coindesk.com/r3-will-close-blockchains-biggest-ever-investment-in-q1-ceo-says/
Of 77 total firms, R3 now counts among its members a number of European institutions, including founding members Barclays, BBVA, Credit Suisse, Commerzbank, SEB and Société Générale.
http://www.r3cev.com/
and here's the news of them closing the biggest round of investment from the banks at $150m in backing.
http://www.coindesk.com/r3-will-close-blockchains-biggest-ever-investment-in-q1-ceo-says/
Of 77 total firms, R3 now counts among its members a number of European institutions, including founding members Barclays, BBVA, Credit Suisse, Commerzbank, SEB and Société Générale.
sounds like a planya man...had another dream about this shit last nite...this dream was more reasonable than my first dream tho...dreamt that it shot up to $6
*edit*
I even dreamt of the perfect cashout strategy...woke up and had to write it down...unfortunately it requires 1,000,000 ripples to pull it off...
cash in 100,000 ripples if it hits $1 = $100,000
cash in another 100,000 ripples if it hits $5 = $500,000
cash in 200,000 ripples if it hits $10 = $2,000,000 (@ this point I can fucking quit working)
cash in another 200,000 ripples if it hits $15 = $3,000,000 (I think this is where it'll top out)
...and I'd still have 400,000 ripples that I can just leave in there to see how far that shit can go
I will buy $500 to $1000 this week; and I will keep buying until I hit 1mill; but after reading about how this shit can be used for more than just banks; im thinking I want 2mill-5mill ripples FUCK IT!!!
sounds like a plan
I would love to have a mill but I can't see myself going in for that much (approx. $7000)
Similar threads
