Bitcoin Forum

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk (https://www.youtube.com/watch?v=FmiBm2LQlyk)

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

Ripple will remain to be a private company so I have serious doubts that it will be the future of digital payments. It may be fully regulated with the governments where it is being used, but it cannot replace fiat which is issued by the governments themselves. It will remain to be a nice payment alternative though with its cheap fees and faster transactions. But those who are after decentralized payments will probably avoid Ripple and stick to Bitcoin.

I also think that XRP will not the future digital payment system rather it will remain just like now. I think only Bitcoin can be the method of future digital payment but depends on the acceptance of most part of world. Every got should come forward to the positive aspects of Bitcoin, then it will be possible to consider only Bitcoin as the future payments.

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk (https://www.youtube.com/watch?v=FmiBm2LQlyk)

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

Ripple has a very prominent chance of becoming the future of the digital payment system. If you go to Ripple's website and look at their customers section, you will be surprised to see the number of banks they are partnered with.

They have a brighter chance among the peers. But Ripple is not entirely a cryptocurrency by nature. They are more like a centralized company which issues their own money. Can't really comparable with true cryptocurrencies!

Ripple will remain to be a private company so I have serious doubts that it will be the future of digital payments. It may be fully regulated with the governments where it is being used, but it cannot replace fiat which is issued by the governments themselves. It will remain to be a nice payment alternative though with its cheap fees and faster transactions. But those who are after decentralized payments will probably avoid Ripple and stick to Bitcoin.

Price-wise: Just my opinion but, as long as the previous owner has his coins which he got when he left the company, XRP will continue to crash after every pump. He has a lot of coins, and because of that, the community is a bit scared that he can dump his coin at any moment.

For those who don't know about it, here's an article explaining the details https://www.cointelegraph.com/news/ripple-co-founder-jed-mccaleb-sold-a-billion-xrp-and-has-47b-left/. Just imagine he has that 4.7 and year by year the guy is selling those stashes.

It may be the future of digital payment not because it is fast and has small fee on every transaction but because big banks are into them, who knows it will not be for long until we get another FOMO.

THAT exactly what I'm thinking this pseudo-decentralized coin is all about making the dev rich LOL. But, in my opinion even if they partner with big banks it's not gonna make this coin as the future of digital payment easily. There are too many factors need to be taken into account and the big banks prefer to create their own digital payment anyway. The big banks also have brain to think that the dev reserved too much xrp to make it their digital payment so I think it's not gonna become what this topic's starter expected.

Paying in XRP offers many advantages to traders, but the question is, to whom will the transaction costs pass?

...there are no miners of Ripple coin. So, who gets the fee? No one!
In this unique mechanism, the XRP that is used for paying fees is destroyed.
This means that the number of XRPs are reducing day by day. This also implies that the value of the XRPs that remains is expected to increase in the future.
Ripple is being piloted by many large financial institutions and payment apps. This is one of the key reasons that Ripple is a favorite among investors.

As usual, all coins are bound to have their flaws and XRP cannot be separated from that.
Some of the shortcomings of XRP that of course you don't like are Centralization, Focused on large corporations, Competition

---

Source
[1] https://www.bitdegree.org/crypto/ripple-coin#ripple-cons

It won't be the future of payments, it'll be just like any other altcoins and cryptocurrencies that we have.

I think it depends on what payment scheme. For banks and other financial institutions, centralizing payment would be good. XRP would be a good choice for this due to its centralized nature. But if decentralized payment where people want to pay without the middle entity between them, XRp would not be a good choice.

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk (https://www.youtube.com/watch?v=FmiBm2LQlyk)

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

I agree, although Ripple (XRP) is fast and has low transaction fees, it is very unlikely to become the future of payments. Banks and governments will not let a currency they have no control over become the future of payments.

Also with the news of more properties by 2021 i do not see why not. I have always believed in ripple and a lot of other people believe it would be the future of coins being used in everyday transactions.

A centralized shitcoin like XRP will never be a future of anything but Ripple company.

It made millions of dollars making promises and selling them to gullible investors and it's going to keep making money as long as they have their premined coins to dump on the market.

Absolutely not. Why would that ever happen? I mean, why would even $3 ever happen again?

So they make 100 billion Ripple. Cost to do that is a little computer time and enough electricity to run your alarm clock for about an hour. It goes for years- not worth a penny. There are billions in ‘circulation’. So who initially owns those billions? A few guys at Ripple head quarters and some venture capitalist that loan enough money to pay salaries for people doing Ripple ‘work’.

So 2017 comes around and POW!! It rockets up to $3. Now a lot of little guys are out there buying that at $2 and $2.50 and up. Who is selling? The guys holding those billions and billions as they are the only source. They are making a shitload of money. Then the crash comes and Ripple plummets to $.30. All those little guys that bought in high have now lost their shirts. But Ripple boys weren’t in there buying their own coins—they were selling. They have all that money in their pockets now.

So now it rests at 30 cents—which is still a hell of a stack of money for the boys that STILL HAVE billions. (You really think they gonna let you have some of that?)

And it IS all still for sale..er I mean ‘in circulation’. It may be ‘in circulation’ but that does not mean it is widely distributed. Ten guys could hold it all for that matter. What do those ten guys need? BUYERS.

Now for the good part. Not only do they hold most of the 42 billion ‘in circulation’—they also control the 50 billion in the ‘escrow’ account. Every month they take another billion out of the Escrow account and sell part and put the rest back in ‘holding’. I bet the selling goes to pay for the ongoing overhead at the Ripple factory. And I bet the rest goes back ‘out of circulation’ because if they released more on the market and increased supply the price would plummet and the Ripple factory would go broke.

So, how do I, as an investor, make any money ‘investing in Ripple’? Any time the price wants to go up there are a billion more dumped on the market to suck up all that juice and you sit there wondering why the price doesn’t go up and give you a return on investment. I don’t know, but I would be surprised if the Ripple factory owned less than 80% of the Ripple. That is too much control to give anybody a fighting chance. And that fighting chance?—yeh, you don’t have it.

And then you realize that Ripple is for big banks to settle accounts. It is not designed to be a ‘mainstream’ currency. It will help big banks and credit card companies to easily SETTLE accounts in full (the money actually goes over to the other entity) in seconds. Good for them-more profits yet.

Whoopie Kai Yai Yeh. They want a stable priced coin to do that-a stable coin. A coin worth the same today and a year from today. If its not meant to go up or down, how do you, little man, make a penny? They want you all to drive the price up again so when they finally sell it to the banks that price is as high as it can be.

The CTO of Ripple did reply to one of my posts with some talk of the little guy make ‘heap big wampum’ but they would have to ‘wait a bit until it matures’. I also asked what happens to the coins ‘in Escrow’ but I haven’t heard back yer. So there you go from the ‘horses mouth’.

I am also not saying that money cannot be made with Ripple. If you are lucky and diligent in the day trading you may see some short term gains with a lot of risk attached. That will be viable until the ‘stable’ price is set. Then you are done.

And let me warn you now. This big ‘Ripple Convention’ is coming up and you can bet there is going to be untold amount of BS tendered out there to show how well they are doing and all that hype may even pump the price for ‘good news starved’ traders and speculators. But I suggest you examine what comes out of that format very carefully. See how often ‘opportunity for the small investor’ comes up verses ‘rapid split second transaction speeds in intra bank transfers’. The novice might think they refer to a mainstream usage and jump on it as all he has heard is that rapid transaction speed is the crypto holy grail-its not. There is a big difference between mass global usage at the retail level verses a few humongous bank transfers with a ‘crypto’ currency that just a fiat shill with central control.

This is how it looks to me. I am open to being corrected and would welcome someone to ‘change my mind’. Have not heard any takers though….ever.