I try to tell them,
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
I try to tell them,
Why every time Ripple takes a hit Motherfuckers come in here spreading
their opinions on why it won't be worth shit?
Listen, the surface hasn't even been scratched yet with it's possibilities
I think Google will use it on every Android Based phone for ANY payment
service. Apps, Music, Bills....it's ENDLESS.....
And of course payments on Google (Internet) Expand your damn minds!!!!
and stop posting you Debbie Downer opinions.
Thanks
their opinions on why it won't be worth shit?
Listen, the surface hasn't even been scratched yet with it's possibilities
I think Google will use it on every Android Based phone for ANY payment
service. Apps, Music, Bills....it's ENDLESS.....
And of course payments on Google (Internet) Expand your damn minds!!!!
and stop posting you Debbie Downer opinions.
Thanks
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Worth 1000 likes
the point isn't to double the fees they are already charging. the point is that it will take over by doing more transactions cheaper...corner the market. If BOA charges $30 and I can go to bank using XRP for $7 dollars, why won't most people just go to the bank using XRP?
True True True
The ceiling is high for this coin.. I came into the game expecting to wait it out for two years. Hell I wasn't even expecting $0.01 until late August/September.
Can anyone give me a quick and dirty on Ethereum? Is this a good time to jump on it?
Of course it is rational to compare Bitcoin's $16Bn market cap and base any price speculation on it.
With 100BN Ripple if each one is worth $10 then Ripple would have a $1 TRILLION dollar market cap and the largest company in the world Google has a $859Bn market cap in equities, it is reasonable to temper the price speculation.
HOWEVER....
Of the 100 BN, 20 Bn were retained by the founders and Ripple only wants about 38 Bn in circulation. At $10 that's a $370Bn market cap which is reasonable for this global token.
Also, Bitcoin's market cap can't be a reasonable comparison to Ripple because Ripple is centralized and designed for global banking utilization and a small amount of Ripple is destroyed in every transaction (0.00001).
Bitcoin being decentralized and not backed by any fiat is why its only $16Bn. It doesn't want global utilization.
Ripple Labs is a private company worth about $20M and they no longer offer Ripple to employees. When they get bigger they will go public and employees stock options will make them all millionaires, which is why Miguel said that even employees are buying XRP for their personal benefit.
Look at this video for example:
That's Ripple in a nutshell acting as a bridge currency in cross border settlements.
If you're sending $1000 USD to someone in Canadian Dollars (1,340 CAD) banks need to keep nostro accounts with various currency pairs but if they're using Ripple, a bank can instead use a liquidity provider who specializes in Canadian dollars as the bridge and that provider will sell its Ripple for $1340 CAD.
Based on all of this, its very reasonable with industry utilization that a Ripple can be $10+.
Whether it hits $100 is debatable, but I now don't see that as impossible given the economics of Ripple.
Ex. If 1 XRp = $100 USD, then the amount destroyed in a transaction (.00001) is still less than a penny and if $1USD = $1.34 CAD, $1.34 CAD of Ripple is 0.0134 XRP. That's very tight and scaleable....in fact....it would be even tighter margins if 1 XRP = $1000 USD just like Bitcoin. A banks liquidity partner wouldn't have to keep as much Ripple on hand and could still handle millions of transactions.
Nonetheless Ripple is geared to be the "Bitcoin of Banking" completely independent of Bitcoin. It wouldn't surprise me that in the future Ripple is restricted to only fiat trading and removed altogether from Bitcoin pairs.
great summation legal money! its clearer than what I previously tried to explain about the differences between ripple and bitcoin.
Thanks fam!
I've been researching and reading alot about Ripple and its all very dense and complex, but I was having trouble wrapping my head around valuations until I realized that the value of Ripple isn't the same as Bitcoin.
Bitcoin's intrinsic value is that it's a private, untraceable digital currency that can be exchanged for real world consideration. The blockchain is a major innovation for mankind.
Using the blockchain Ripple's value isn't in anonymity or being a digital currency ; its in sending anything of value in seconds rather than days, completely disclosed to banks and the government.
That's a major evolution in the way we exchange money, quite frankly it's revolutionary.
It's so far away from that. Ripple isn't about to pass Bitcoin and Ethereum is gaining a real hold with developers. I don't think it changes anything in the thread in terms of people's short term goal. But Ripple is not going to $10 plus anytime soon...by anytime I'm talking about 5-10 years. People are looking for another bitcoin and bitcoin is both a protocol and programmable money. It's the actual technical protocol that drives the value. That's why Ethereum is the biggest threat to bitcoin.
The float is always going to hold it down in terms of price per ripple. It's not meant to be a value store.... that's why the float is so high. It's meant to be a transactional platform.
It's more of a Ethereum vs Ripple than a Ripple vs Bitcoin thing
You can do the exact same thing with Bitcoin. It takes minutes not days. Usually 6 confirmations on the blockchain take an hour.
I think most of us in here would be more than satisfied if Ripple were to hit a dollar.
I'm sure people here would be ecstatic if it hit a dollar.
I'm trying to tell some people to lower the expectations. With the available supply that high, ripple is not going anywhere near $10 and it was never meant to go that high.
Good video. That said, this is definitely not the type of guy i've envisioned on Poloniex.
LOL....
go back and reread some of the previous pages..... 1 USD is great, projections are 3-5 USD.
I think the idea of Ripple is slipping your mind. Banks don't want to use bitcoin. If they did they would of already. Also, people need to stop thinking that the future of Ripple only involves banks and CryptoCurrency. Ripple's tech can be mobilized. You already see banks using touch sensors and mobile payment solutions coming Into play Ripple can, in the long term revolutionize that especially with Alphabets backing. Ripple will also soon become public so to think the investment into them is to be tempered you're mistaken. I still remember when people thought Netflix going public was ridiculous.
I'm quite positive I was the first person on this board to even know about Ripple. Stop. This is a basic supply and demand issue. With that float, the price per ripple has an inherent ceiling.
I quoted you comparing the functionality of decentralized bitcoin to centralized Ripple as far as speed of transactions. It's night and day.
There is very little distinction between Ripple and Ethereum. It's a Beta vs VHS comparison. There is nothing revolutionary about Ripple.
Speed would be a significant point of sale for Ripple if other protocols like Ethereum weren't already fast. Ethereum uses a Ghost protocol that does transactions in 10 seconds.
The differentiators will be the community of developers building on the platforms and the executives driving the vision. Technically, there is nothing amazing about Ripple that you can't do with other platforms like Ethereum.
With all that being said, Ripple is more a banking transactional protocol and won't have the same driver as bitcoin (regardless of the rise in transaction volume) because of the float. You can't escape supply and demand.
So the expectations should be tempered by reality... especially if people are looking at this short-term (next 2-3 years).
Its down. I have some and it went to .056789 and i didnt sell. I bought at .037 and now its at 0.039
being greedy, I should have cashed out 1.5 week ago
Check this indication... Then hit the play button, dude was on the money from 3 days ago and it's about to go
https://www.tradingview.com/chart/XRPUSDT/nLHpdIBU-Destination-10-Cent/
https://www.tradingview.com/chart/XRPUSDT/nLHpdIBU-Destination-10-Cent/
ETH?
Bro why do you feel the need to lower people's expectations?;why did you care what others are thinking? This entire thread from beginning to end has all types of info and realistic expectations and dreams..i highly doubt anyone in here is having ridiculous thoughts....
yeah. it may be a good spot to buy ~0.034-0.036
Like i said I saw it go to 56789 and did not pull the trigger to sell. That was nearly double my investment in ETH
i do not see a play button
where is it?
if it does hit $0.10 soon, i am taking my profits and gambling on jumping back in. I already got my limits set, LOL! I can't walk away from that much profit when I am trying to open up a payday loan biz!
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I understand he's trying to be realistic but at the end of the day, no one can accurately project where any of these coins will land. Let's be smart and pay attention to everything.
So people don't overinvest. You already have people worried about buying in at 7 cents on the pump and worries about getting caught up in the dump. And that was an obvious pump and dump on Sunday.
Not discouraging anyone from doing anything, but I've longed studied blockchain technologies..and lots of people are in here "investing" without understanding the underlying technology or the market drivers. So I'm "adding" to the conversation.
Someone was in here screaming $10 per Ripple. Are you serious?
Peace king, you may be the brother who can explain this to me.
So I understand the Ripple Consensus Ledger which is the public blockchain adds utility to banks on a transactional basis by quickly confirming ledger entries.
In that regards 10 Ripple can confirm one million transactions so the cost per Ripple doesn't need to be high when talking about global payments.
However, what about the bridge currency product for cross border settlements?
If Ripple really allows banks to get rid of nostro accounts in international banks, wouldn't the bank or liquidity partner need to sell the respective amount of Ripple for that currency?
Example say my bank doesn't have any Canadian dollars and I want to send $1000 USD to my buddy in Toronto. His Canadian bank doesn't have US dollars so the liquidity partner which deals in Canadian dollars sells $1340 CAD worth of Ripple and sends that CAD to my buddies account.
Right now that's about 33,333 Ripple, wouldn't it be tighter if one Ripple was $10 so the bank only needs 10? Or does the bridge currency product work another way?
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