What else they gonna use? It has to be on the block chain. Ripple got 45 banks already
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
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What else they gonna use? It has to be on the block chain. Ripple got 45 banks already
yep yep; Im just more excited now because it can be used for other industries; I dont know if it will or not but the thought that it can got me feeling real good; plus with the major banks legitimizing it; well thats also good; and again it doesnt have to move much; if it hits $1, well that is a mill off a 10k investment; I dont see how you can beat that
; but if it hits $10 or $100 mofo gonna be like 
....
I verified with them using the app and just taking a pic of my license, took a few mins to get an email saying I was verified. I've had them for maybe 2 yrs and never knew I wasn't "verified" til today. I never bought any major amount of Bitcoins in the past. Just lil spurts here and there over time.
ok, i will go thru the app and see if this works...
As I said before they can use whatever they want. Some banks and countries are working on there own coins. Now I agree that it would be easier for them to use xrp but it's not guaranteed that they will do that.
Think about this. XRP is on the Block chain. RIPPLE already has 45 banks.
In order for banks to use their own they would need 10,000 banks all to
agree on what currency to use with this settlement tool. How can that be possible? So you gonna make a whole new currency cause
you don't wanna use XRP? For all 10,000 banks to use? Don't make sense
That's precisely why they made 36 billion XRP
All the banks must be TOLD what currency will be used.
As far as them making their own, that could be just for INTERNAL Settlements
who knows. no way it's Global (what Ripple is trying to achieve, all done with Centralization)
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Might go in for even more. Idk, it's become an addiction almost.
Like fuck it I don't need this, let me buy some more ripple real quick, especially now since i can buy on kraken and bitstamp. i'm just loading multiple sources.
coinbase is a joy to use. idk what I'm going to top out at but hopefully this hits some bucks
dm me for my address so you can send me 1k ripples for my service.
Like fuck it I don't need this, let me buy some more ripple real quick, especially now since i can buy on kraken and bitstamp. i'm just loading multiple sources.
coinbase is a joy to use. idk what I'm going to top out at but hopefully this hits some bucks
dm me for my address so you can send me 1k ripples for my service.
yep and @ the same time it's making me realize how much I spend on bullshit that I don't need and could/should easily pass on
My overall point is that they don't necessarily need to use xrp. They don't necessarily need to make anything but may decide to use something else that is already out there. A country could say they have an official cc similar to our current fiat system and ban the use of anything else. China is already attempting to regulate bitcoins more.
Considering that I currently own xrp I would love for that to be what is used. However,I've learned over the few years that I've been investing that there are no guarantees. I'm not trying to shit on anyones dreams but everyone should view the potential for ripple or xrp to succeed as well as fail.
Even with the 45 banks, the price still has not really moved.there are a lot of factors that goes into the future price of xrp but clearly the current news doesn't mean anything to the general public right now. With the support of banks everyday people may support xrp over bitcoin and others just because it would have the appearance of being safer.
I'm not sure what you mean by saying xrp is on the blockchain. Are you talking about the ripple platform? I was under the impression that each cc has their own blockchain, so I'm confused by your statement.
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You are forgetting the most important fact. EVERYTHING that is out there is decentralized. Banks need a centralized cyrptocurrency. Especially when they settle with each other. The FED needs have a hand in it.
The price hasn't moved very much cause 1. There are still a lot of XRP out there. 2. The Cyrptocurrency population doesn't like Ripple cause it defeats the purpose of decentralization. But technology will ultimately win. (We hope)
3. No Popularity or Familiarity. Not many people KNOW about Ripple. Before this thread did we?
When I say Blockchain ALL the XRP'S together make the blockchain. Each one contains a small part....I believe. All tracked by a ledger.
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I didn't forget anything my whole argument has been that we don't know which blockchain the banks will use or what any give country may require. We are betting that xrp will be chosen because it is already built with the ripple network.
I still say that everyday people alone are not likely to drive the price of xrp without an industry behind it mainly because of the amount of xrp.
Again unless I'm wrong every cc bitcoin, litecoin, ethereum etc have blockchains and banks can choose to use anyone of them or create their own.the other blockchainside are decentralized by choice and good change that stance just like ripple.
You know I was thinking we could create a Cryptocoin Hedge Fund Lite.
The crypto market is so volatile that a prudent hedge fund manager could make a ton of profit for the group just by profiting from the daily bitcoin fluctuations.
If we had 10 members contributing $50 a month that would give the manager a solid amount to invest.
Say we use all initial contributions to buy a couple bitcoins since they are the safest investments then dedicate a percentage to invest in other coins.
We could luck up into another coin with a low entry for the members.
Shit we could do this and still protect member anonymity. The manager would have to be papered to Hell but I'm an attorney it wouldn't be too difficult.
Speaking of hedge funds, this article came out and several hedge funds are buying up coins. 2017 is the year blockchain and cryptocurrencies become "sexy".
Keep buying!
https://techcrunch.com/2017/01/23/whats-next-for-blockchain-and-cryptocurrency/
Keep buying!
https://techcrunch.com/2017/01/23/whats-next-for-blockchain-and-cryptocurrency/
Again, they are DECENTRALIZED. There's a reason banks aren't messing with them
Hahaha, You keep saying they can choose any like it's a choice. It's NOT
All of them are Black Market Currencies. 10,000 banks are using SWIFT now, you will be hard pressed
to find various banks doing their own thing....just because. It has to be a uniformed agreement.
XRP was made for Banks to satisfy settlements globally
They need this for SETTLEMENTS, they can't do that if Banks are on different systems. Are you understanding that?
I know you hoping for the best and you are saying this for arguments sake but you are saying something that
doesn't make sense on a global scale. Banks will NOT deal in Off the Grid Currency. The Currency stands for everything OPPOSITE
that the Bank does. Do you understand that?
Lastly, I never said "people alone" I named 3 reasons...hahahaha Listen, relax, I understand your opinion but IMO it's fundamentally incorrect
Another great article on Ripple where an investor predicts Ripple tops out at $1.
https://dailycx.com/ripple-makes-the-impossible-possible/
"After recently having a conversation with a reputable CIRF representative, we asked them to elaborate on their input about price speculations and they indicated that “XRP can reach $1 USD although it will take time. Nothing happens over a blink of an eye. When Ripple starts to reach the buzz stream and international volumes that bitcoin is; you can expect to see a price of $.4 USD. Yet they are two different niches and I won’t be surprised if we see $1 USD years down the line. If Ripple becomes the successful leader of InterBanking then you should expect trillions of dollars in volumes. Limiting down your expectations as a crypto-trader is smart technique for less risk so expecting $.1 USD at some point is reasonable.”
The goal is to get 1M Ripple before it gradually climbs to $.10. This is a long game indeed.
https://dailycx.com/ripple-makes-the-impossible-possible/
"After recently having a conversation with a reputable CIRF representative, we asked them to elaborate on their input about price speculations and they indicated that “XRP can reach $1 USD although it will take time. Nothing happens over a blink of an eye. When Ripple starts to reach the buzz stream and international volumes that bitcoin is; you can expect to see a price of $.4 USD. Yet they are two different niches and I won’t be surprised if we see $1 USD years down the line. If Ripple becomes the successful leader of InterBanking then you should expect trillions of dollars in volumes. Limiting down your expectations as a crypto-trader is smart technique for less risk so expecting $.1 USD at some point is reasonable.”
The goal is to get 1M Ripple before it gradually climbs to $.10. This is a long game indeed.
Those aren't coins they would use. It would only be something similar to the tech behind XRP as it is a closed contained blockchain. There's no mining and is designed for settlements. They can easily create their own blockchain which mimics Ripple. Hell, Ripple even said they could create your own coin for you to use within your own network of friends. But the value would only be internal. Same as if banks had their own blockchain created. We don't know.
The blockchain would have to be within an internal system where you have a network of computers online all verifying the transaction. In Bitcoin and others, you have people and machines mining and can verify when a transaction is sent thru the system to verify if this long hashtag and transaction is real, then it's sent around and all verified to be valid across thousands of computers/servers all at the same time. Same happens with XRP. But there has to be a network in place. Ripple has that. A company like SWIFT would have to sell banks on installing a networked system to do it's checks and balances of every blockchain transaction for whatever they are using.
They are climbing a hill that Ripple already has in place. This is my two cents, but here's an article that shows the similarities and differences:
===============================================
https://www.quora.com/How-is-Ripple-different-from-bitcoinHow is Ripple different from bitcoin?
SIMILARITIES
- Both Bitcoin and Ripple are decentralized.
- Both are open-source protocols and not owned by anyone. (NOTE: The Ripple code has not been released yet.)
- Both use algorithms to ensure that their networks come to the same conclusions--so if one person authorizes Transaction A, the entire network comes to agreement that Transaction A happened.
- Both eliminate many monetary trust-requirements: trust in central banks, in financial services companies, in legal systems, contracts, etc.
- HOWEVER both still require trust-based relationships to "cash out." To redeem Bitcoin/XRP for USD you need a "gateway" company to help. Someday people might not care about having access to USD, but for now it's an entry point for external regulation.
- Both allow for anonymous, free, p2p transactions across the internet.
DIFFERENCES
- Bitcoin and Ripple use a different method to reach network consensus. Bitcoin uses Proof-of-Work (mining). Ripple uses an iterative consensus process.
- As a result, Ripple is faster than Bitcoin. It only takes a few seconds to finalize transactions. It's also more energy efficient.
- Bitcoin is a decentralized digital currency. Ripple is a decentralized transaction network that also contains a digital currency called ripples or XRP.
- The Bitcoin network tracks the movement of Bitcoins. The Ripple network can track information of any kind.
- As a result, Ripple can track account balances of any existing currency.
- Bitcoin requires centralized exchanges (Mt. Gox). The Ripple network acts as a decentralized currency exchange. So if someone wants to sell their XRP for USD they can do that within the network without needing a third party. (This will help Bitcoiners too: they can trade Bitcoin on the Ripple network without fear of an exchange going down and disrupting the market.)
- There is a set, gradually increasing number of Bitcoins (gradually moving towards 21 million). There is a fixed, finite number of XRP (100 billion).
- Bitcoins are awarded through mining. OpenCoin (the company that developed Ripple) will give away 75% of XRP though it has not yet given full details on how. It aims to distribute them as widely, fairly, and diversely as possible. (Yes. They are holding some XRP in order to make a profit just as early Bitcoin developers made a profit off acces to cheap BTC. They are idealistic people, but still working for money.)
- Ripple allows for automated scripts. This is a big one. For example, a script might say: if account A does not receive $100 by November 1, then the money it received will be automatically returned to the original accounts. Voila! You have created Kickstarter, but without needing a .COM to oversee things.
- Subjective, but I'd argue that Ripple "plays well with others" better than Bitcoin. Bitcoin has create a global cryptocurrency, a "digital gold" (which is great). Ripple can help businesses and individuals who don't think about gold or cryptocurrency (E.g. say a non-profit starts using Ripple as a way to facilitate cheap remittance payments to India--cool, people just saved billions of dollars in fees. Now, say a US Payment Service Provider starts using Ripple to facilitate micro-payments--nice, you can "tip" a website $0.01. Now, as a bonus, everyone who signs up for the Micro-Payment PSP can also send money to India. And these users do not even need to know about Ripple or be interested in decentralized currencies. They just know that payments got easier and cheaper. As this network grows, its features and advantages will also grow, and the competative pressure on "walled garden" financial systems could result in significant changes.)
Dude I'm not going to keep going back and fourth about this. I'm backing up my statements with facts that come from Ripple Labs or based on information that is easy to find such as blockchain ideology . At the end of the day any blockchain can be used including something developed by banks. If needed, I can provide the source but I'm sure you've already read it for yourself. To your point there is a project in place to come up with regulations that involve Ripple.However, that was never a part of my argument.
Like I stated in one of my earlier post Microsoft and others were doing test with ethereum with is considered decentralized.Bitcoin has a big holding in China and is used in some of there local businesses .im not saying what will be used and I agree it isn't likely to be anything random like dash for instance or the other two I mentioned. I'm simply saying we don't know what will be used yet.
Your talking like this is a sure bet. when in reality depending on the amount of money someone drops on this they could be hurt financially behind this.Its ok for you to have your opinion on what you believe is likely to happen, but don't present it as facts. Anytime you inform others about an investment opportunity I'd hope you tell them the good and bad so that they make an educated decision. Let's not pretend everyone does, did or is doing the research we are.
I'm not above admitting that im wrong or asking for clarity if I don't understand what you are saying but you seem to be running off emotions. All you have to do to prove me wrong is show that xrp will be used(not potentially used) by banks that are working with Ripple or other cc will not be used as of yesterday. In fact I'll even give you some Xrp assuming you back up your statements with facts from a respected source.
I've never stated what would be used. Only that xrp is not guaranteed to be used and banks clearly have options to create their own blockchain.
There are 100 links inside this thread
No need to respond. I think we're done with this convo. I
think we both have better things to discuss, Cool? Good....
Good Luck Dogz...
Dude @An RnB Thug has explain this greatly, come on dude; every single bank is not about to create a block chain, it doesn't make sense to do so; they use swift now so your thought process is off bro; they either going to continue using swift or use ripple; it's really that simple; all we are saying is we hope ripple becomes a major player; and if it becomes the dominant player like a amazon or Netflix or uber etc etc look out.........
Hey I don't know what everyone is arguing about but if anyone if having second thoughts I'll take the XRP off yo hands 
Exactly. Whatever they are using, "if" they had their own block chain it has to shared by all in the banking network. The only "network" already in place is SWIFT with fees and possibly stealing of funds. It's why Ripple is the only other alternative, unless SWIFT implements their own.
Or if they are using Ripple behind closed doors.. Meaning hiding the fact that that's what they are using. I stated that some days/posts back.
I'm in if we can get 8 more people.
Yep, and Swift has a new technology; its not blockchain though; and its not as good as blockchain either; but they are trying to adjust with the times; From what Im reading I think Ripple will become a major player; Im hoping they become the dominant player...
oh just gotdammit mayne, great article, but I cant get over the part, where in 2010 a guy named lazlo bragged about being able to buy two pizzas with ten thousand bit coins...
it didnt say PIE it said pizzas..
now and days thats about five million dollars a slice.
I know he has to be kickin himself...
great article...
fucked up how the columbian govt closed down the bitcoin
exchange in columbia... that ol money found it too much of a threat and shut that bitch down...
great article thanks, makes me want to pick up some bitcoins tho...
Now 7. I'm in.
You can just buy Bitcoins on Coinbase, then transfer it over to Bitstamp or Kraken and convert that to XRP. I haven't bought XRP directly on Bitstamp with USD, so maybe someone else can chime in
I transfer my bitcoins to Polenix then buy XRP there. Hasn't failed me yet. Still waiting to find a reliable wallet
i am down if serious
As long as there is accounting and it isn't someone's nephew trading in their basement I'm in...
I have done the T3 verification, so usually how long does it to get cleared?
I provided everything they needed
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