Ripple is in major trouble

[AmarO]

http://asia.nikkei.com/Business/Companies/Japan-s-SBI-megabanks-take-stakes-in-blockchain-group-R3?n_cid=NARAN012

http://www.cnbc.com/2017/05/23/r3-funding-blockchain-intel-bank-of-america-hsbc.html



So Ripple signed Japan SBI which was a group of about 47 banks and created SBI Ripple Asia which caused pump from .20c to .40c but news just came out today that Japan SBI joined R3 and are creating their own coin. R3 has loads of banks on board and is like a Universal Bank Consortium, majority will be owned by the banks in it unlike Ripple. They will use it to implement blockchain solutions to save them money. I saw this coming a mile away. All these banks are investing in their own ILP Ripple type network so they don't have to depend on a third party. Why depend on a third party when you can have your own and save even more? Whales are trying to maintain XRP value as some hold a lot but they can only keep buying so long because noone else is buying.

Below are some competitors in the blockchain banking scene with more coming:


R3
Quorum
Ripple
Axoni
InfoSys


Good bye Swift and Ripple, hello R3 lol get out before the house burns down I've been saying this for awhile now. There is no more good news left for Ripple. They were a shame at Consensus and now their own group just ditched them. Greedy centralized trash.

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[dissident]

This is why open sourcing all your code when you have unique technology is a bad idea. Someone will just take the code and implement their own solution. Better off treating your code as intellectual property.  All these open source coins are inherently worthless from the perspective of all their "unique features" because big corporations will just rip off their ideas.

[mining1]

No, open source is a good ideea but ofcourse not in all case. For this particular case, open source was a grea ideea. Problem is, ripple network can work without XRP, which means there's no intrinsec value for XRP to exist on the network beside speculation.
I admit, i almost gave into fomo and almost bought at 1 billion, then at 4billion, but i didn't. You'd think i feel sorry for that, but i don't. Projects that can't manage to make their token usable and valuable to the network can die any second ( read massively dump ), so i didn't want to risk.

[BitcoinHodler]

that is what i have always suspected!
a centralized world doesn't work well with the decentralized one. the banks want and always prefer full control. specially when it comes to these delicate matters. and also when the price is this volatile in the altcoin!

with a self made blockchain they can do anything they want without taking any risks. they make any changes to make it better and more secure and the value of its token doesn't have to change at all hence avoiding the super volatility of Ripple.

This is why open sourcing all your code when you have unique technology is a bad idea. Someone will just take the code and implement their own solution. Better off treating your code as intellectual property.  All these open source coins are inherently worthless from the perspective of all their "unique features" because big corporations will just rip off their ideas.

something called cryptocurrency MUST be open source, there is no other way. the power of it lies within being open source and peer reviewed by anyone.
and if it is good, then people will contribute to it and make it better and grow bigger. look at bitcoin. it is open source, it has been copied a million times with changes, and at least a dozen times without any change and none of them could even live up to become adopted outside of an exchange by anyone other than traders.

[jjacob]

There are banks which are quitting the R3 consortium too. Looks like the banks want to have their individual, patented blockchain applications. 
Ripple had a great run so far, for a currency which is not decentralized. Now, I guess it will come down to Earth.

[bomzis]

There are banks which are quitting the R3 consortium too. Looks like the banks want to have their individual, patented blockchain applications. 

This is great as divided they are not such a threat to the future of crypto economy. Competition between many such projects will keep their prices low and thus investors won't be too interested in them hopefully. Any centralized project like XRP becoming a top currency is bad for us in the long run. Goodbye Ripple, you won't be missed!

[Seville]

maybe XRP can still survive with smaller banks and co-op banks.. Who needs these big players.. time to cut losses

[cryptohunter]

have no sympathy for ripple with their we will distribute it for free....but whoops we just keep most of it actually method.

However, yes they will just rip off your ideas in the end and create their own version. Keep it closed or demand licensing fees from them.

[alyssa85]

This is why open sourcing all your code when you have unique technology is a bad idea. Someone will just take the code and implement their own solution. Better off treating your code as intellectual property.  All these open source coins are inherently worthless from the perspective of all their "unique features" because big corporations will just rip off their ideas.

And yet bitcoin's code is open source and has hundreds of alt clones, but still goes from strength to strength!

[Piston Honda]

that is what i have always suspected!
a centralized world doesn't work well with the decentralized one. the banks want and always prefer full control. specially when it comes to these delicate matters. and also when the price is this volatile in the altcoin!

with a self made blockchain they can do anything they want without taking any risks. they make any changes to make it better and more secure and the value of its token doesn't have to change at all hence avoiding the super volatility of Ripple.

This is why open sourcing all your code when you have unique technology is a bad idea. Someone will just take the code and implement their own solution. Better off treating your code as intellectual property.  All these open source coins are inherently worthless from the perspective of all their "unique features" because big corporations will just rip off their ideas.

something called cryptocurrency MUST be open source, there is no other way. the power of it lies within being open source and peer reviewed by anyone.
and if it is good, then people will contribute to it and make it better and grow bigger. look at bitcoin. it is open source, it has been copied a million times with changes, and at least a dozen times without any change and none of them could even live up to become adopted outside of an exchange by anyone other than traders.

Re. your comment above i bold - this is why WBB (dlsag.com) is creating the IDEAL HYBRID solution about to launch in June 

[shyliar]

R3 is a major competitor to the Ethereum Platform as well after having abandoned ETH in 2016.

[VanDeinsberg12]

There is a big dump in this time and looks the problem already appeared. Anyone in here, What do you think about the future of ripple? Regarding from the latest discussion i can take a conclusion to stay away from ripple.

[okbit]

I don't quite understand ripple, but it sure seems to be doing fine.

[affandi]

There is a big dump in this time and looks the problem already appeared. Anyone in here, What do you think about the future of ripple? Regarding from the latest discussion i can take a conclusion to stay away from ripple.

If it is true there is a big dump ,, it should be like that. While we note, hopefully dev ripple quickly solve this problem

[cerejobastos]

I dont mind banks joining the blockchain and cryptoworld, but they have to do it in a decentralized way else they are going against what blockchain technology means. People supporting ripple/stellar and clones will only help banks and governments to corrupt the crypto world and that wont be good for the small fishes once again
I am totally against centralized cryptos

[arpon11]

seems to be doing fine.
[/quote]I do not also understand ripple! One thing I have seen is it price keep on increasing and its market capitalization is tempting. In which ever way ripple has come to stay and we would keep on invest in it.

[g___]

Good bye Swift and Ripple, hello R3 lol get out before the house burns down I've been saying this for awhile now. There is no more good news left for Ripple. They were a shame at Consensus and now their own group just ditched them. Greedy centralized trash.

do you follow any news? please see joel katz's response to everything consensus related - their approach was strategic.

you and many others act as if ripple has to be the only solution. do you know who else open sourced their software? tesla. do you consider them to be in "major trouble"?

would you say, "apple created a computer!" microsoft, hp, etc. are done for. no, you wouldn't, because competition is good for business.

did you know ripple holds a patent for a distributed network for payment processing? depending on how specific it is, other companies couldn't do what they're doing. if they do, ripple could license the intellectual property, which would only benefit / add to their bottom line. ripple is also light years ahead of everyone else...

please stop encouraging fear without knowing/stating proper facts.

[NoiseBoy]

Don't forget Stellar, which is basically just a fork of Ripple.

[shaqpaqmatt]

Would be betting on R3.  Ripple doesn't appear to have the durability.  JP seems to be playing around with ZCash. It will be interesting if this is all spin or if JP will commit the resources needed to stabilize ZC. 

It seems BONY has interest in R3, if this is true, bets are on R3.  If Blythe still has pull at JP, its a concern JP screws around with ZCash.  But if BONY goes R3, as the largest custodian bank, all roads point to BONY's technology.  And certainly after govt clearing, as JP pulled out of the biz, BONY is all that's left.  Trillions $$$$ of Clearing.

[Virman01]

There is a big dump in this time and looks the problem already appeared. Anyone in here, What do you think about the future of ripple? Regarding from the latest discussion i can take a conclusion to stay away from ripple.

If it is true there is a big dump ,, it should be like that. While we note, hopefully dev ripple quickly solve this problem

I think not to worry about dumps, because ripples are altcoins that are still used and traded on the market, so it's natural if there is a dump in this case maybe they see a high Bitcoin price for now, so we'll see how it goes in the future.