[2019-01-17]Ripple says Confusion on Crypto related holding back Mass Adoption

[ppblockchain]

Ryan Zagone, Ripple’s director of regulatory relations just spoke at Washington, DC’s Fintech Week, and he addressed something that is on a lot of people’s mind in the cryptocurrency space. He said that the uncertainty surrounding cryptocurrency regulations is what’s keeping major financial institutions around the world from using XRP.

In Zagone’s eyes, Ripple’s technology already provides everything their customers demand and that XRP will expedite processes and make transactions more efficient.


https://paperblockchain.com/ripple-says-confusion-on-crypto-related-law-is-the-only-thing-holding-back-mass-adoption/

[DooMAD]

I'd say his confusion probably stems from the fact that he doesn't know what real cryptocurrency is.  It's almost certain that different regulations would need to apply to Ripple, because a company is in control of it and companies need regulations to ensure they behave themselves.  Real cryptocurrencies are self-regulating and therefore only the service companies holding customer funds as a custodian or offering fiat exchange need to be regulated.  Protocols don't need regulation if they're decentralised.

[hatshepsut93]

Anyone actually uses XRP? I can't remember the last time I've seen "XRP accepted here" in the wild, meanwhile I quite often encounter "Bitcoin accepted here". I've just checked and it turns out XRP has over 1 million of transactions per day, but who is behind them? Is XRP some sort of coin for bankers?

[rodel caling]

Ryan Zagone, Ripple’s director of regulatory relations just spoke at Washington, DC’s Fintech Week, and he addressed something that is on a lot of people’s mind in the cryptocurrency space. He said that the uncertainty surrounding cryptocurrency regulations is what’s keeping major financial institutions around the world from using XRP.

In Zagone’s eyes, Ripple’s technology already provides everything their customers demand and that XRP will expedite processes and make transactions more efficient.


https://paperblockchain.com/ripple-says-confusion-on-crypto-related-law-is-the-only-thing-holding-back-mass-adoption/

People choosing ripple because of company dedication to improve and support of their project becaus ethey have a goal in the world of crypto.

[gentlemand]

People choosing ripple because of company dedication to improve and support of their project becaus ethey have a goal in the world of crypto.

Ripple is not a cryptocurrency. To this day I still don't understand how it managed to sneak into this space, let alone eat up so much of everyone's money. It's one of the great mysteries of our time and looks like it's always going to be one.

[Ridwan Fauzi]

People choosing ripple because of company dedication to improve and support of their project becaus ethey have a goal in the world of crypto.

Ripple is not a cryptocurrency. To this day I still don't understand how it managed to sneak into this space, let alone eat up so much of everyone's money. It's one of the great mysteries of our time and looks like it's always going to be one.

Most people who come to cryptocurrency mostly do not understand cryptocurrency well, they are only looking for a profit instead of advancing / growing cryptocurrency to develop. A mystery will not be revealed as long as everyone is not aware that he is in the mystery, because they are comfortable with the situation.

[BitHodler]

People choosing ripple because of company dedication to improve and support of their project becaus ethey have a goal in the world of crypto.

In other words, Ripple's XRP token has the same characteristics of a stock that follows the performance of the main company. I'm sure that the SEC isn't blind and will do whatever it takes to categorize it accordingly.

I must admit that I haven't seen such a dedicated, yet pathetic coin/token community before. They pop up everywhere shilling XRP in every possible way. Must suck to be a bag holder....

The funny thing is that Litecoin generates more volume than XRP, and it has been like that for years. Another example of how useless market caps are. It all comes down to their insane circulating token supply.

[bbc.reporter]

Print and issue own centralized currency that the SEC might declare as an illegal security. Blame the government for the absence of the regulatory framework and maintain that it causes fear among potential users.

They should have thought well about what they were planning to do before doing it. Did Ripple hire lawyers specializing in securities fraud when they started their company? I reckon no. Almost no ICO or cryptocoin company did before 2016.

[CryptoBry]

People choosing ripple because of company dedication to improve and support of their project because they have a goal in the world of crypto.

Ripple is not a cryptocurrency. To this day I still don't understand how it managed to sneak into this space, let alone eat up so much of everyone's money. It's one of the great mysteries of our time and looks like it's always going to be one.

I am sure that many are also asking the same question if Ripple can be categorized as a cryptocurrency in the first place. This is an ongoing debate with both sides sure of their stand. Well, as with anything, only time can tell which side will eventually win this debate. But as for me, I am leaning on the side doubting if Ripple should have a space in the cryptocurrency industry...maybe they should be acting like the modern PayPal and many would agree.

[gentlemand]

I am sure that many are also asking the same question if Ripple can be categorized as a cryptocurrency in the first place. This is an ongoing debate with both sides sure of their stand. Well, as with anything, only time can tell which side will eventually win this debate. But as for me, I am leaning on the side doubting if Ripple should have a space in the cryptocurrency industry...maybe they should be acting like the modern PayPal and many would agree.

Well, it looks like the decision was made long ago and enough people believe it should be involved in this market. It's not as if it's going to be evicted. I will never understand it all the same. 

The securities question is the big one. I'm not sure when it's going to be cleared up or whether it's been cleared up. I was under the impression there's still an ongoing court case that may drag on for a long time to come. The longer it goes on for the more of the SEC's buddies make money and 'suggest' they avoid the security tag.

[1Referee]

To this day I still don't understand how it managed to sneak into this space, let alone eat up so much of everyone's money. It's one of the great mysteries of our time and looks like it's always going to be one.

It looks like it's huge, but the market cap is deceiving. Most of the floating supply is controlled by a small number of entities. I guess that we'll see it continue to increase because of that, especially because Bitcoin is bound to increase as well. Bitcoin up shitcoins up. Shorting shitcoins is playing with fire.

Whenever you see Bitcoin's price tank, XRP doesn't fall as hard, which is done artificially by buying the BTC pair up to counter the drop in USD value. Most of what consists of the Ripple gang was here well before most of us, and they own a lot of Bitcoin, and they have to make sure that XRP offers more stability than the rest of the cryptos to market their xRapid service.

No financial institution will use something that pumps and dumps as hard as the other cryptos do, so there is enough incentive from Ripple's side to offer buy support whenever it is needed.

[pixie85]

People choosing ripple because of company dedication to improve and support of their project becaus ethey have a goal in the world of crypto.

Ripple is not a cryptocurrency. To this day I still don't understand how it managed to sneak into this space, let alone eat up so much of everyone's money. It's one of the great mysteries of our time and looks like it's always going to be one.

It sneaked there for the same reason why stablecoins are on coinmarketcap along with legit cryptocurrencies. Premined and centralized XRP is listed on the same table with USDt that could be made out of thin air and XRP that's nothing more than a token created by a greedy company that's keeping a lot of it for themselves in case stupid speculators pump it to 1 dollar at which point Garlinghouse and his friends would compete with Bezos and Gates on the list of the richest people in the world.

[bbc.reporter]

I am sure that many are also asking the same question if Ripple can be categorized as a cryptocurrency in the first place. This is an ongoing debate with both sides sure of their stand. Well, as with anything, only time can tell which side will eventually win this debate. But as for me, I am leaning on the side doubting if Ripple should have a space in the cryptocurrency industry...maybe they should be acting like the modern PayPal and many would agree.

Well, it looks like the decision was made long ago and enough people believe it should be involved in this market. It's not as if it's going to be evicted. I will never understand it all the same. 

The securities question is the big one. I'm not sure when it's going to be cleared up or whether it's been cleared up. I was under the impression there's still an ongoing court case that may drag on for a long time to come. The longer it goes on for the more of the SEC's buddies make money and 'suggest' they avoid the security tag.

XRP is not safe from being given the illegal security tag until we see it listed in exchanges like Coinbase hehehe.

Coinbase has been requested to list XRP by holders since it began listing altcoins, however, I speculate that the SEC is making a good example of Ripple for the others not to break any securities laws.

Also, but why was Stellar listed?

[Kakmakr]

I'd say his confusion probably stems from the fact that he doesn't know what real cryptocurrency is.  It's almost certain that different regulations would need to apply to Ripple, because a company is in control of it and companies need regulations to ensure they behave themselves.  Real cryptocurrencies are self-regulating and therefore only the service companies holding customer funds as a custodian or offering fiat exchange need to be regulated.  Protocols don't need regulation if they're decentralised.

It is not that he is confused, it is more hidden anger towards the bigger institutions, because he bend over to their demands to create Ripple in a way to serve their requirements and now nobody wants to use his centralized technology.

Ripple will be left out in the cold, once the R3 Banking group has finalized their development of their own BankCoin.   The thing that he does not get, is that these institutions wants 100% control over the technology and does not want to outsource it to another centralized authority.  

[Vetal7]

i hope its watch now!

[Oilacris]

Anyone actually uses XRP? I can't remember the last time I've seen "XRP accepted here" in the wild, meanwhile I quite often encounter "Bitcoin accepted here". I've just checked and it turns out XRP has over 1 million of transactions per day, but who is behind them? Is XRP some sort of coin for bankers?

Even myself cant even see that XRP is being used and same as yours i do only encounter signboards showing Bitcoin accepted here and theres no Xrp. 
I'm surprised that they are still expecting that their centralized coin would be able to be used up. hehe