Bitcoin Forum

This article is a good read:

https://www.forbes.com/sites/billybambrough/2019/02/15/the-end-of-ripple/

Ripple use case was only to have banks work with it, but now when banks are making their own cryptocurrency, is Ripple in trouble?

Obviously they are, I guess they will have to look for another niche, other clients. They should have seen this coming, sooner or later banks were going to be able to create their own blockchains and then, why should they trust Ripple instead of managing everything by themselves?

We can wait and find out what actually is the troubles for ripple, but i do not think there is much
Ripple is a big brand, with a private product, and a good market volume on coinmarketcap.
Soon enough, we can find out how strong ripple is.

Actually, Ripple has been quite successful in making partnerships/developments in the past with banks. I don't think that Ripple expected this!

Ripple is focused on getting into the banking scene but it's hard. They clearly have some connections since they go and promote themselves as a banking coin.

Nope, I don't think ripple will be beaten by the bank who want to create their own cryptocurrency. Just look on the coinmarketcap, ripple has more popularity.

Great you said, the Ripple belongs to the ranks of the protocol centralised successful and many of the partnerships against the bank is also any included in the local my state.

however, it’s very a lot to assume as soon as possible that the ripple will have a high level of security as the bank maybe a kind of equal, ohh not long enough and requires more time.

I agree the performance on the body of their company very fast so move about cryptocurrency at this time, well Ripple coin have value in the market.

Not really, ripple will serve as the base. Though banks create their own cryptocurrency for transaction with other networks a platform similar to ripple is in need. In this way the usage of ripple will continue and it is not at all a trouble. Because ripple being a closed chain it is same as that of the banking system, so financial institutions will make use of ripple.

Would not XRP's ambition be to become the bank of all banks? In fact, I see it differently, but it'll probably have some competitors, including the JPM project! Some time ago warned the risk of investing in XRP and apparently it's becoming real. For many it's difficult to accept that Bitcoin is the Sun of the crypto! Any project that tries to get closer can burn. I think XRP can add a lot like Altcoin, just that. You must recognize that your community is extremely passionate.

Not everyone can do everything by themsleves, that's why. Ripple have their things ready so if banks want they can directly use it, rather than by creating one from scratch.

Not everyone also wants to build their own platform. It needs lots of cost and employees. Instead, they use the other popular platform to serve for their jobs and it will save more cost

I have read similar article about this, I think this one will become ripple obsolete, that's why from the start
I never think that investing in ripple is a good idea, it's centralized and its for banks but now banks started to make their own, let's see
where this will bring ripple to.

The crypto space is for decentralized tech only, that's my understanding and I'll only support a decentralized coin like ETH and many others
of course, by doing this, I feel like I'm doing the right thing.

With more banks make their own stable coin, the future of BTC will be brighter.

that is the whole point, these "partnerships" are using Ripple not XRP. and in other words many of them are in fact creating their own centralized cryptocurrency and never use the token that their foundation created.

XRP has always been in trouble and was doomed to fail because it was a useless token which was also centralized. everyone knew it from the start too so they only focused on making millions out of it before it dies.

It's hard, it doesn't mean there's no way, because all the work has its own way and it takes time to fit in, ripple is a coin with a good and good banking concept, so it's not an impossible thing even though it's a little difficult.

Both are shit. LOL  ;) Do you any thought that any of this will help the people. No there is no change for it. If you really want the empowerment of money, finance and etc. Bitcoin and other decentralized cryptocurrecies are the only way to make that true. Then banks will not end the ripple.
They encountered this coin into the market to shake the market with the centralized crypto and they done it too. If you are investing ripple. Please do not do it anymore and keep your fund safe on bitcoins.

Banking concept by the bankers so this makes no difference from the current fiat system other than the transaction are in Blockchain network,So I won't pick the ripple even over the current fiat because the chance of losing value on fiat is less than ripple.

Banks dont give a damn about ripple. Let alone its tokens. It was a scam from the beginning. Too bad if you just discovered the truth.

On the other hand, It still can make outrageous profits before it collapses. Bitconnect did it too. If you hodl any ripples, be careful and be sure that you dumped all before the stampede starts.

In trouble Ripple or not, only time will tell us. To date,I believe the coin is not bad in the market. And if the developers have enough patience and experience to leave their project afloat, I assume that the coin can in the future show us a very good result in terms of development and profit.

I think ripple is a unique project and it cannot be linked to banks, it is designed for global payments like dozens of other coins so even if every bank creates its own coin i think ripple will still survive there are many many more avenues for business other than banks for ripple so personally i will not worry much.

Ripple has struggled to rise whereas other coins are enjoying the occasional pump. Hard to say if the reason is due to lack of confidence in it's future or if they are simply dumping their massive holdings

Money is not a problem for banks, if any random startup out there can create their own blockchain, imagine what banks can afford to do. Creating their own private blockchain allows them to manage and control everything, make themselves look more modern and avoid the reliance on a third party.

For some reason it seems to me that xrp is a banking project, which is now generally in a stable condition. Until another wave of interest in cryptocurrencies began. Perhaps this project can collapse the market.

I doubt it. Ripple's main use case is to make a reserve cryptocurrency for a group of banks, but not just one single bank. They don't have anything close to what JP Morgan does.

In my opinion, if bank have their own currency, they might use ripple to be the swap currency which between banks, ripple is one of longest and well know cryptocurrency, most bank would accept ripple and allow to swap with their own currency, it would be similar like BTC in exchanges.

yes, ripple might not be overthrown by other banking coins, but this will reduce the impact that ripple is supposed to have as a coin for bankers. There is room for competition and no coin should a monopoly power, which is what is now happening as regards other coins that are now being created. This is much more needed and it is healthy for the market. Ripple is subject to manipulation and i think the effect will definitely be reduced by that.

Many those who are spinning in the field of cryptocurrency,it became clear that RIPL is the future of the banking system and all banks will start to gradually over time go to this altcon,as throughout the system of the blockchain it will be important in the new banking system,so that everything is clear from

If you've been looking at Ripple late partnerships, you can assume that Ripple itself is the banks lol.
What's so good about Ripple i that it's solving real life banking system problems (transaction speed & ...) & that's the most important thing about how blockchain should be, if it doesn't solve real life use case it's worthless, Ripple will be the best thing to have in your portfolio for sure.

I still see Ripple underestimated considering the major partnerships they are doing last couple months.

That's why the article has been written... If Ripple is really ready, why didn't JPM used it instead of creating their own cryptocurrency?

I do not think that what banks create can be called cryptocurrency. These are rather some internal bonus points of the system.
But I still don’t support Ripple

I don't really care much about Ripple if they are in trouble. But it's probably a threat to them if these commercial banks started to see a light through making their own cryptocurrency instead of using their technology.

But like the statements given, a bank that creates their very own crypto shouldn't be called as 'crypto'. We will see if Ripple will see this kind of situation threatening to them but I doubt it that they will tell it exactly just like what's on our minds.

No, of course, there is no sense in cryptocurrencies from banks. There are only two scenarios of using cryptocurrency by banks. The first scenario: all banks in the world refuse their competitive and geopolitical differences, agree on the use of the same digital asset, agreeing with its rules and harmoniously regulating it. The second scenario (most likely): banks that are not in the first group issue their own digital assets with their own set of rules and controls.

What ripple promises is the transactions and how cheap they are, they are not promising this to banks directly, of course it is worked best when its b2b and banks work with them but they are suggesting it in general so anyone can use it. If you need to send money to someone using ripple is a cheaper way than using a bank or something like western union.

However, considering they are using their coin to supplement their system and make sure they keep on selling the coin when they need funding and buy it back when they have funding to keep it alive is just shows everyone how centralized the coin itself is. It is probably the most manipulated coin out there and it sits on second or third place almost all the time when it deserves more like 30th spot at best. Can they switch from purely bank to "best transaction method worldwide" company ? Yes, but it won't change anything for the coin, just for the company.

Banks = centralised cryptocurrency
Ripple = centralised cryptocurrency

I honestly don't see much of the difference here!  ;D

Because the bank doesn't need ripple again and i should remind you that the bank never interested in use ripple coin and these bankers are only interested in use the ripple protocol and then test it. After the testing goes perfectly and they will create their own protocol.

Wrong. A lot of banks are even already using Ripple! With exception of JP Morgan of course...

It's strange that you do not summarize this case, because now I would generalize this case and it seems to me that people should summarize banks with XRP because without them this project simply will not happen.

Well, to gain such popularity other currencies need to try very hard , I think ripple is unlikely to leave the market it has long been used and will be used , I do not see any reason to panic )

Another article arguing about the same thing:

https://www.forbes.com/sites/francescoppola/2019/02/17/is-jpmcoin-a-serious-threat-to-ripple/

I do not like Ripple as a crypto currency, because I believe that this coin does not belong to this market. But despite all this I would rather prefer to use Ripple for my daily transactions as by doing it via traditional banking system.

This discussion just seems to be never ending but i think we should support ripple in this war as whatever the criticism ripple still is part of crypto community as it is based on the blockchain technology so i will keep supporting ripple.

Ripple is a time-tested product, and its importance in the market is very large, its own banking cryptocurrency will not exceed ripple

I utterly disagree. The JPM coin is hilarious. There is no tech to back it up, there is barely even any need to use blockchain for what they're doing. The old argument gets raised every now and again: 'banks will use the ripple tech but not XRP, they will use their own coin instead' - this doesn't make much sense. XRP is the native coin to the ledger, and the only native coin. Sure a bank could use it's own coin, but why? Where is the competitive advantage?

Banks are already making their crypto and the first big one is jp Morgan. It will effect xrp and its future if banks make their own crypto. But xrp is only not about a banks coin they have more technology according to their roadmap. And one of them is crap is and they maid their technology. So this kind of Technology is hard to adopt but if a bank want they can make it. But not all the banks in the world make their own technology and if they will make if will take time and xrp then already popular and advanced than those technology maybe. So it will hurt ripple but I think they will make some way to rid over it.

"Competitive advantage"?!? Where's the competitive advantage of using Ripple, instead of your own blockchain?

Ripple is centralised...

Despite of many people says that XRP is a centralized coin, i think this is still a better technology compare to the banks and that is why many banks are adopting XRP so they can improve their own technology. XRP will win on this one, especially in the future so if you hold some of XRP it will be more worth it.

Well, few banks will be able to overtake ripple in terms of capitalization and technology , I think ripple is very much working with the banks that few banks will do their cryptocurrency as it is not particularly necessary

Each bank wants to cut the largest piece of cake for himself, so more cryptocurrencies similar to Ripple will be created. Of course, if there is more competition, then everyone will earn less for himself. Ripple will probably stay a leader for centralised crypto because it appeared first, just like Bitcoin for decentralised crypto.

From day one ripple has been accused of being a centralized project funded by banks in order to make backdoor entry into the world of crypto currency so that they could try to dominate the market. We will see banks using ripple as a transaction medium soon

It's the same as any other blockchain but ripple has the biggest pre-mine coin that's enough to make all of the people in the team being the next rich person. There was no important thing to bet on this one dude. This is a really centralized blockchain and it has no advantage at all.

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"Competitive advantage"?!? Where's the competitive advantage of using Ripple, instead of your own blockchain?

Ripple is centralised...
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The competitive advantage is that the XRP ledger is very decentralized.  Ripple, the payments company based in SF is centralized.  You are confused.  JPM and any other private bank coin is recreating the same current inneficiencies on a DLT.  JPM doesn't trust HSBC who doesn't trust Citi however they realize that Ripple only controls 5% of the XRP ledger and thats powerful.  Not only is XRP the fastest, cheapest and most scalable asset WITH the necessary liquidity to handle payments at scale but no one is even close.  The team at XLM isn't building the necessary liquidity to run payments through it without massive slippage on exchanges.  Whether you like it or not, 60+ central banks will be issuing their CBDC's over the next 5 years and XRP will the BRIDGE ASSET.  XRP will be the BRIDGE ASSET for fiat and any private bank coins for cross-border payments and will even handle some domestic rails.  Just do your research, real research though and not reading the garbage on the ad based sites.  Dig into temenos, SBI, SAP and R3 and XRP.  You will be blown away by what is happening just behind the scenes.  Read recent publications from the IMF, listen to Christine Lagarde.  Don't blindly listen to others on bitcointalk and think you have it figured out.  Buy XRP and hold for 5 years.  You'll thank me later. 

Ripple was on track with its mission to provide fast cross border transaction less transaction fee compared to banks and money changer but not until JPMorgan announce that they would create their own stable coin to be used in blockchain technology  and in my own opinion this really threaten Ripple as both cater same line of business. Hopefully ripple can overcome this odds.

I got many news about Ripple or XRP coin where coinbase want to listed ripple on their market. Many bank have support and working with Ripple for the future and make ripple become their payment transaction.

Of course there is a connection, ripple and the bank may cooperate in terms of payment transactions, hopefully in the future it will run smoothly and there will be many supporters

Banking community is the key element for the tremendous growth of ripple. Regularly more and more banking community keeps on using the ripple platform. This has led ripple to be permanently listed as the banking coin as it is almost centralized and used on a banking systems.

Therefore it should not Ripple vs Banks.

Ripple can work with bank by giving them a system that is fast, cheap, and transparent, it's called a bankers coin so why would people want to compare it with bank.

This was the main question for me. Why banks need XRP? Why they just can't create their own private blockchain. XRP is centralized, nobody wants to entrust the money of their clients to a new company. So IMHO XRP is in trouble. But they can create some innovation that will help them to win this battle.

They don't need to compete with Ripple, they are not offering a new coin for people to buy it or invest in. They are just issuing an internal coin for their internal procedures, the only thing they need from this coin is that it works well for them. Having their coin allows them to control everything and not depend on an external company or an external blockchain that could cause problems at any time.

JPM coin? there always been a competition in the market. I'm not tuning in with this kind of clash in the market but Ripple looks still stable although there's an announcement from JP Morgan about their own token. I think Jamie Dimon is the one that gives that idea because he hints that JPM coin will be used in retail soon.

Still stable? I'm talking about the usability and adoption, not the stability. It won't remain stable if slowly the usability vanishes for XRP.

Another moment I thought. To be honest, very few people will be sending money by xrp or JM token) Most people that xrp waiting just price dump, and buying it just for speculation) With JP stable coin there will no pumps) So XRP still have a chance)

Yes, they have some chances, but what will come after JP? Some new bank making a new stable token? Things are looking great for ripple only by ripple fans, I don`t see ripple have a great future. I think that this headline is wrong, its not ripple vs banks, ripple is making contracts with banks, they one to help them with transactions, who cares about them. I`m turning myself to decentralized cryptocurrencies, for me thats the future.

I don't think Ripple has been a cryptocurrency for a long time. The Ripple team doesn't care about the XRP. Their purpose is to make money only through agreements to be made through Ripple ... So the XRP investor should be very careful.

The question is if this bank launch their own coin/token, Are they going to create their own blockchain from scratch? or They will use a ready made blockchain like Ethereum, EOS and create their own token. If they use Ethereum and there is a clogged on the network it would delay some transactions and given that there are so many using Ethereum. Ripple step up because they have more scalability and high (TPS)Transaction per second compared to other blockchain. However I hate the nature of being Centralized of Ripple as majority says but these are just rumors and they are claiming to be decentralized.

Yes, you are talking about usability and adoption and it won't be like that if its not stable. As I've said, it looks stable for the meanwhile and it's market cap still on good shape together with its daily volume.

If this is true, then it means people are surely going to dump Ripple also considering the fact that big financial corporations like JPMorgan have started created their own cryptocurrencies.

I've been preaching this for over a year.  ;D
No bank will ever use xrp.

Ripple should negate the term only banks can use their system. crypto is for everyone at the first place. ripple has been in the market for so long that they should know that change is inevitable.

If there is no intended use found for a coin, then it will affect its value. Which means that,its value will plunge.
The essence of creating coins is to find a good use case for them.
If banks are now creating theirs, then the use of ripple will be limited. It's investors will reduce. Thereby, affecting its mass adoption.

I have just figure that out lately, wherein why xrp are coordinating with banks? Is that ironic that a decentralize platform is going back to old school centralized bank with interference.

Ripple isn't decentralized, you may think of it as a centralised blockchain. Ripple thinks that banks aren't bad, and Ripple protocol can help them in payments processing.

In all cases, XRP is never better than BTC and XRP is the worst altcoin of all altcoin, but I do not understand why it has grown so strongly and ranked at No. 3 in coinmarket.

Ripple will not be able to replace the created cryptocurrency banks, it will not be able to provide the same speed as that of Ripple, and they will be in demand

The fact is that I generally perceive this project as a bridge between the cryptocurrency market and the banking system. So in any case you can not talk about the confrontation of the banking system and ripples.

It has even succeeded in sustaining that rank. This is the power of banks - they're forcefully trying to make newcomers fool by buying their precious limited decentralized BTC and giving them centralised XRP in return. Banks are trying to make people think that XRP has a good future because they're using it, while they can actually stop using it and launch their own cryptocurrency whenever they want, making your XRP worthless.