Another load of Ripple fud from a total new account.
Banks are in the business of charging fees not pay them thats why they make the own projects, research
"Project Ubin and Project Jasper". The projects just copied XRP's code and use the own system.
38 Billion XRP are open for you and me to buy on the open market
No, 38 Billion are not available to trade. Jebs 9 Billion are included in Marketcap calculation but he can not sell them now aswith they are not freely trade-able as is the case with many of the circulating supply. Marketcap is proven wrong. Less than 10% is free available.
Ripples past xrp sales for the last 2 months is here. Also if the same sales speed is used as Bitcoin right now 24 million would need to be sold daily. Only tax payments would prove how many really have been sold.
https://bitcointalk.org/index.php?topic=2019899.msg20734525#msg20734525So it is now I should delete your post like all the other silly selfmoderated anti-Ripple threads you made?
Sorry, but Im not sinking that low.
But Im happy to tell you that you dont seem to understand why
banks would want to reduce costs for transactions. See how I highlighted banks? Thats because when cost goes down for them, it doesnt nescessary mean it goes down that much for the customer in that bank either....More profit for banks and more reason to jump onboard with XRP.
Second, cost is just one thing Ripple does much better than the transactions today. Speed is just as important. 10 seconds instead of days...Now we are talking. There are demos of a banks sending funds to each other with Ripple on Youtube. Really impressing stuff.
If you have followed the news about Ripple instead of trying so hard to spin anything negative, you would have known that Ripple have already siezed the XRPs Jeb owned. They blocked his attempt to sell them. Years ago..So there are still a total of around 100B XRPs available in the ecosystem.
Why would a bank trust the ripple network when they can just create their own?
Sure using the ripple network would be cheaper for them, you know what would be EVEN cheaper?
Cloning the ripple network and making "wells fargo coin" so all fees are paid to the bank instead. I see zero reasons why any of the large banks in the world would chose to use the actual ripple network, nor do I see any reason for XRP to have that high of a market cap. The technology is good yes, but that doesn't make the coin behind the technology any more valuable.
Why should banks trust random people on the internet with something that has been entrusted with the banking industry for 100's of years?? That's just delusional. We're talking billions of dollars in corporate & customer funds, even if it's just for transfers, they can't & wouldn't take the exchange rate risk.
It makes 100% more sense to clone the technology and tailor it to your current needs, while keeping all the fees in the process.
I'd imagine if a bank ever creates a coin, it will be backed by good ole fiat currency
simply because that will just work easier for their business model.
#1: all deposits/withdraws/transfers are currently made in regulated fiat currency, so why would you to mix in "took 1m regulated USD, transferred 1m worth of USD in unregulated XRP @ current exchange rate, lost 100k on XRP price movements", because at the end of the day both sides of the trade need to get the same amount of value.
Its much easier to just create your own coin and say for each coin I have I also have 1 USD to back it up. If you send me 1 WFcoin to deposit, you get 1 USD in your account.
It would simply be a "place holder" for 1 usd worth of value that is universally accepted among BANKS and no one else..., and any bank who received this coin would automatically know its a "IOU" for 1 usd and credit 1 usd to the customer account.
#2: If giant banks used a secondary currency that was freely traded on the market, that opens them up to manipulation by outside actors. This type of risk is something that banks WILL NOT stand for, I couldn't imagine depositing my funds and then hearing "sorry sir, after we transferred your xrp it went down 10%" rofl.
or "hey guys, I hear WF is transferring a large amount today, let's buy XRP up before the trade & make it higher than it should be so we can sell it @ a profit and then watch the market float back to normal valuation... who cares if we are taking value directly out of the bank itself and putting it into our pockets, that's what traders do!"
#3: The government would never give approval for the use of a publicly-controlled currency for non-crypto transactions dealing with the average joe. It's just simply more trouble than it is worth. I couldn't imagine trying to explain to my grandpa that you lost his "actual money" because of some weird internet money transfer system that fluctuates in price.
I swear people just don't think too deeply about stuff do they? We've used banks all ours lives, put yourself in their shoes and see how stupid all of this sounds haha.Trade XRP to make profit... Don't drink Jeb Jone's Kool-aid though, or anyone elses for that matter... LOL
