XRP Ripple confusing discussions.

[UncontrolledGuy]

I have been research about Ripple/XRP. I learned that xRapid will use XRP to send money over internationally for banks transfer purposes. From my understanding, XRP cannot be printed, what if bank want to send $100 billion, that means XRP have to be $5 or above so banks can use XRP to send money with xRapid. Am I correct from my research? There is mixed reports about XRP, and its likely they will not use XRP at all? Would be cool if you guys share your knowledge on this part. Thank you.

[jackg]

I'm guessing they'd probably send that another way.

The bank would either go and just write on a piece of paper who owes who or they'd transfer other assets. Quite frankly they would probably have to print money in order to get $200 billion to send.

Although as mire financial institutions adopt xrp then the price will probably have to go up.

[UncontrolledGuy]

I'm guessing they'd probably send that another way.

The bank would either go and just write on a piece of paper who owes who or they'd transfer other assets. Quite frankly they would probably have to print money in order to get $200 billion to send.

Although as mire financial institutions adopt xrp then the price will probably have to go up.

Based on my research, you cannot print XRP. Am I wrong?

[mu_enrico]

I don't think banks would participate in a "pump and dump" scheme. This kind of transfer is possible with a stable coin (USDT and stuff), but still, they would consider the price swing to be too high.

The 2nd scenario is about using the XRP as a closed (private) network, so they could do whatever they want.

[Laxus215]

I'm guessing they'd probably send that another way.

The bank would either go and just write on a piece of paper who owes who or they'd transfer other assets. Quite frankly they would probably have to print money in order to get $200 billion to send.

Although as mire financial institutions adopt xrp then the price will probably have to go up.

Based on my research, you cannot print XRP. Am I wrong?

They don't need to print money they use nostro account where already money is deposited & A payment journey with xRapid looks like this: a financial institution connects directly to digital asset exchanges in both the originating and destination corridors. The originating currency is exchanged into XRP which provides the necessary liquidity to power the final payment, and then in seconds that XRP is exchanged into the destination currency in the second digital asset exchange. Once this transaction takes place, the funds are sent out on the local rails of the destination country for payout. The transaction is tracked end-to-end, and the result is a cross-border payment that is cheaper and faster than ever before.
Source https://cryptocurrencyfacts.com/xrapid-explained/
Also visit :- https://ripple.com/insights/liquidity-explained/
If the more institution will adopt Xrapid platform there will be significant growth in value of XRP.

[shulc7]

It is not looks like that Ripple is a currency at all. Big part of coins is in hands of Ripple's owners. So prices can be highly regulated, not created freely. That's the problem in conditions of market economy.

[bonker]

Whatever don't use Ripple because its is centralized.

When something means centralized the creators can make the maximum level to be printed as they want so don't use it.

[Bountyl]

Against the backdrop of today's news, I'm increasingly thinking of buying this coin. Perhaps it will still grow at least $ 1. Very good news about cooperation with banks prompts to buy it.

[danherbias07]

You will be shocked to the impossible that they can do.
Better get away. You are still in confusion now so it is a good thing. Never under estimate the power of a centralized crypto currency. If it is the bank which they are connected then they will find a way to make it happen.
There are a lot of better crypto currencies there. Do not risk your money in where you doubt it or it will be sleepless nights over and over again.

[ðºÞæ]

Currency has no value very little, its purpose is just to move from person to person.
A $1 or $2 bill has a value of 4.9 cents and a $5 has a value of 10.9 cents. A $100 bill costs 12.3 cents to make, its value.

This has more value as a $100 bill


If you stupid enough you can use a 1oz gold coin for its face value, I am more than happy give you something representing $100 and has a actual value of 12.3 cents for the 1oz gold bullion which is worth USD 1,382.99

[Herbert2020]

you are correct, you can't print more XRP since it has a fixed cap. it is maxed out at 100 billion tokens and about 40 billion of it is already released and is "supposed to be" in circulation. so if a bank wants to transfer money using XRP tokens they will be limited to the number of tokens they can get their hands on which is a lot less than that since you can't buy up all the tokens! and also they will be subjected to the pump and dump caused volatility of it and lose a lot of money.

that is why nobody uses XRP and if a bank talks about ripple they mean Ripple or in other words the technology of it which they  want to adapt for internal usage without needing XRP at all.

[Kiir]

I have been research about Ripple/XRP. I learned that xRapid will use XRP to send money over internationally for banks transfer purposes. From my understanding, XRP cannot be printed, what if bank want to send $100 billion, that means XRP have to be $5 or above so banks can use XRP to send money with xRapid. Am I correct from my research? There is mixed reports about XRP, and its likely they will not use XRP at all? Would be cool if you guys share your knowledge on this part. Thank you.

They can't make more.
The coin is deflationary, as in a very small amount gets burned (destroyed) on every transaction. (Around 8M XRP destroyed so far).

Also, there is a thing called xCurrent and xRapid (among others).

xCurrent, you use the tech, but not XRP and you save more money than using conventional transfer (rough estimate done by Ripple and users is around 30%

xRapid, you use the tech AND you use XRP which makes you save another, cca, 30% savings

You'll see a lot of hate (and probably a fair amount of shilling) for Ripple/XRP, but don't fall into such trap. Keep researching, took me 3 weeks of reading to decide whether to buy.

EDIT: THis is a VERY simple explanation and you best visit Hodor's blog, he has some amazing articles that shed a lot of light on the matter.

[Herbert2020]

The coin is deflationary,

i don't think you can call such a coin "deflationary" just because its supply is capped. it is like saying grains of sand are deflationary! it is already inflated and they haven't even released all the supply yet!

Keep researching, took me 3 weeks of reading to decide whether to buy.

you can not decide whether or not to buy some altcoin by reading about it and its technology! we are in a manipulated pump and dump market and "research" like that won't help you one bit.

[Kiir]

i don't think you can call such a coin "deflationary" just because its supply is capped. it is like saying grains of sand are deflationary! it is already inflated and they haven't even released all the supply yet!

I think you missed the part where a small amount of XRP is destroyed every transaction. That is why there's 99,991,708,587 XRP available at the time I'm writing this post and not 100B.

Keep researching, took me 3 weeks of reading to decide whether to buy.

you can not decide whether or not to buy some altcoin by reading about it and its technology! we are in a manipulated pump and dump market and "research" like that won't help you one bit.

That is your opinion and I would even agree with it when applied to any coin that doesn't try to solve a real life problem.

But since Ripple is doing exactly that, I can't agree with you.

[temilade200]

There are some stable coins, backed up by the governments of some countries, but XRP is not a stable coin. It is subject to volatility, which is one of the focal points that has limited the adoption of crypto, xrp inclusive.
The marketcap of xrp is another thing to consider. What if the intended amount to be sent is more than the marketcap, it means it will not work.

[ðºÞæ]

i don't think you can call such a coin "deflationary" just because its supply is capped. it is like saying grains of sand are deflationary! it is already inflated and they haven't even released all the supply yet!

I think you missed the part where a small amount of XRP is destroyed every transaction. That is why there's 99,991,708,587 XRP available at the time I'm writing this post and not 100B.

Keep researching, took me 3 weeks of reading to decide whether to buy.

you can not decide whether or not to buy some altcoin by reading about it and its technology! we are in a manipulated pump and dump market and "research" like that won't help you one bit.

That is your opinion and I would even agree with it when applied to any coin that doesn't try to solve a real life problem.

But since Ripple is doing exactly that, I can't agree with you.

xrp is full of fraudsters and fraud supporters.
XRP inflates over 2% a year calling it deflationary is outright fraud, scams of the earth.

Inflation
2016 xrp 2.8%    Euro 1.14%
2017 xrp 2.4%    Euro 1.35%
2018 xrp 2.05%, Euro 1.73%

About 8 Million xrp have been destroyed so far less than 0.002% per year so adjusted figures are
2016 2.798%,
2017 2.398% and in
2018 2.0498% inflation.

Even Ripple inc. management is distancing itself form such claim.

[Supercrypt]

I have been research about Ripple/XRP. I learned that xRapid will use XRP to send money over internationally for banks transfer purposes. From my understanding, XRP cannot be printed, what if bank want to send $100 billion, that means XRP have to be $5 or above so banks can use XRP to send money with xRapid. Am I correct from my research? There is mixed reports about XRP, and its likely they will not use XRP at all? Would be cool if you guys share your knowledge on this part. Thank you.

Noone really sends 100 billion to somewhere else that easily. That type of money is country economy changing amount, there are countries with less money in their treasury to begin with. Hence, that is not something they would care about right now. If that were the case and 100 billion were to be used than they could find a combining effort of both crypto and legacy systems to exchange money for that transaction purposes and go back to pure crypto.

The blockchain system and money is totally different, this is exactly why people still buy and sell ripple, they think XRP has anything to do with Ripple, even if a company were to send 100 billion dollars worth of money to another bank, they will not use XRP, they will just use the blockchain and pay Ripple company and people who hold XRP will not benefit from it.

[Geenstijl]

I wonder why banks will use public blockchain at all, what is the point to do so, if they can build their own private worldwide banksters blockchain to transfer value between banks? Why do they use Ripple instead of private blockchain based solutions?

[ayshagotyou]

Even if this happens, it is not at all soon. In order for banks to accept Rippl, they need to stabilize in price and naturally grow. And this is not the next year for sure.

[kramchers]

I'm guessing they'd probably send that another way.

The bank would either go and just write on a piece of paper who owes who or they'd transfer other assets. Quite frankly they would probably have to print money in order to get $200 billion to send.

Although as mire financial institutions adopt xrp then the price will probably have to go up.

Based on my research, you cannot print XRP. Am I wrong?

XRP cannot be printed because it is in blockchain, the circulation supply will have trouble.
Printing XRP then they need to deduct it over the contract? if not then the supply will continue to grow then!
I really dont trust or like the XRP project.