Miss-information from a poster whose singular mission is seemingly to confuse readers about XRP and Ripple.
If readers want to know more about XRP and Ripple, they need to read posts by a much more respected Bitcointalk poster - JoelKatz (a.k.a. David Schwarz)
Here's what he said about XRP's strategy (source
https://www.xrpchat.com/topic/4029-explaining-xrp/?do=findComment&comment=39074):
Explaining XRP
The abridged model is this:
1) Ripple gets banks to use its payment technology.
2) Banks integrate Ripple's payment system into their system.
3) This helps to eliminate all the technical obstacles to banks routing payments through a crypto-currency. (Regulatory, compliance, business rules, integration effort, etcetera.)
4) Banks use the system to clear payments with each other, probably using mostly ILP. (ILP is a protocol that permits atomic, cross-ledger payments. Most importantly, it allows a "connector" to facilitate the payment even if that connector is not trusted by either the sender, the recipient, or the source and destination financial institutions.)
5) Ripple tries to make XRP the premium connector by targeting inefficient corridors.
6) If XRP can efficiently bridge X% of payments between banks that use Ripple, it will.
7) This will increase the demand for XRP as connectors need XRP to buy the destination currency for their trades.
If XRP is cheap to trade with other currencies, people who don't know what currency they'll need next may hold XRP.
9) If XRP is cheap to trade with other currencies, people who are willing to buy any currency they can get cheaply may hold XRP.
10) This can lead to a cycle of increasing demand.
Ripple may or may not succeed. Ripple's strategy may change. But that's Ripple's plan, in summary.
Or, even shorter, build a massive, level playing field in which assets can compete to bridge payments, then try to make XRP a winner on that playing field.
This is an ambitious, maybe even crazy, plan. But Ripple has raised tens of millions of dollars, has over a hundred full time employees, and our successes to date speak for themselves. That is, of course, no guarantee of success.
