I just learned that Ripple doesn't use XRP in its protocal for bank transfers. So if they dont use XRP in their model, where does its value come from???
valueerror
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@bluswan555, exactly ! it's because WE believe it has value because banks are involved.. funny right ? same goes for fiat..
bluswan555
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@valueerror, But fiat actually gets used by Banks.. With this currency, the banks don't even use it. So who uses it? Or does it just sit in our wallets waiting to sell at a higher price?
textbook
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This is just an digital extension of centralized banking which needs to die! Peer to Peer is the future! We dont need middlemen skimming our wealth! Invest in Decentralized fairly mined coins! 100 billion ripple exists! Bitcoin is 16.5 million Bitcoin is..open sourced and decentralized...Ripple was hugely premined and under central authority..ya ya ya blah blah blah..they are going to put 60 billion in escrow! talk is cheap..Ripple is a get in and get out coin at best!
valueerror
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well.. i understand that xrp (the network) is important to banks and some big companies.. but why should xrp (the coin) be of any worth for us and everybody else ? it is never going to be a currency - right?
RonnySiswanto
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@valueerror, because bank will use xrp, and ripple doesn't want to make any coin , just ripple,
valueerror
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@RonnySiswanto, why should they ? do you really think banks will buy your xrp in order to be able to send themselves money ? at best they'll use the network for free or just buy the company (if it hasn't happened already)
IMHO ripple is pure hype.. well i'm surfing the wave but i'm not hodling :-)
RonnySiswanto
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@valueerror, have you already see videus about 2 bank transfered their money? they use xrp for that transaction. they will use xrp and its true. why people still ask about this lol. ripple already said about thhis on their web, of course they will use their network, but must use xrp for that
Stell52
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@RonnySiswanto, Banks dont use xrp, they use ripple protocol
cnbc.com/2017/05/26/bitcoin-rival-ripple-is-sitting-on-many-billions-of-dollars-of-xrp.html