Ripple vs. Banks?

[bartolo]

Obviously they are, I guess they will have to look for another niche, other clients. They should have seen this coming, sooner or later banks were going to be able to create their own blockchains and then, why should they trust Ripple instead of managing everything by themselves?

Not everyone also wants to build their own platform. It needs lots of cost and employees. Instead, they use the other popular platform to serve for their jobs and it will save more cost

Money is not a problem for banks, if any random startup out there can create their own blockchain, imagine what banks can afford to do. Creating their own private blockchain allows them to manage and control everything, make themselves look more modern and avoid the reliance on a third party.

[trash321]

For some reason it seems to me that xrp is a banking project, which is now generally in a stable condition. Until another wave of interest in cryptocurrencies began. Perhaps this project can collapse the market.

[CryptoBuds]

This article is a good read:

https://www.forbes.com/sites/billybambrough/2019/02/15/the-end-of-ripple/

Ripple use case was only to have banks work with it, but now when banks are making their own cryptocurrency, is Ripple in trouble?

I doubt it. Ripple's main use case is to make a reserve cryptocurrency for a group of banks, but not just one single bank. They don't have anything close to what JP Morgan does.

[baobao2000]

In my opinion, if bank have their own currency, they might use ripple to be the swap currency which between banks, ripple is one of longest and well know cryptocurrency, most bank would accept ripple and allow to swap with their own currency, it would be similar like BTC in exchanges.

[Classica35]

Nope, I don't think ripple will be beaten by the bank who want to create their own cryptocurrency. Just look on the coinmarketcap, ripple has more popularity.

yes, ripple might not be overthrown by other banking coins, but this will reduce the impact that ripple is supposed to have as a coin for bankers. There is room for competition and no coin should a monopoly power, which is what is now happening as regards other coins that are now being created. This is much more needed and it is healthy for the market. Ripple is subject to manipulation and i think the effect will definitely be reduced by that.

[trade2winnn]

Many those who are spinning in the field of cryptocurrency,it became clear that RIPL is the future of the banking system and all banks will start to gradually over time go to this altcon,as throughout the system of the blockchain it will be important in the new banking system,so that everything is clear from

[ansi]

If you've been looking at Ripple late partnerships, you can assume that Ripple itself is the banks lol.
What's so good about Ripple i that it's solving real life banking system problems (transaction speed & ...) & that's the most important thing about how blockchain should be, if it doesn't solve real life use case it's worthless, Ripple will be the best thing to have in your portfolio for sure.

I still see Ripple underestimated considering the major partnerships they are doing last couple months.

[encycrypto]

Many those who are spinning in the field of cryptocurrency,it became clear that RIPL is the future of the banking system and all banks will start to gradually over time go to this altcon,as throughout the system of the blockchain it will be important in the new banking system,so that everything is clear from

That's why the article has been written... If Ripple is really ready, why didn't JPM used it instead of creating their own cryptocurrency?

[Andrey13101991]

I do not think that what banks create can be called cryptocurrency. These are rather some internal bonus points of the system.
But I still don’t support Ripple

[jossiel]

I don't really care much about Ripple if they are in trouble. But it's probably a threat to them if these commercial banks started to see a light through making their own cryptocurrency instead of using their technology.

But like the statements given, a bank that creates their very own crypto shouldn't be called as 'crypto'. We will see if Ripple will see this kind of situation threatening to them but I doubt it that they will tell it exactly just like what's on our minds.

[tonibyuzen]

No, of course, there is no sense in cryptocurrencies from banks. There are only two scenarios of using cryptocurrency by banks. The first scenario: all banks in the world refuse their competitive and geopolitical differences, agree on the use of the same digital asset, agreeing with its rules and harmoniously regulating it. The second scenario (most likely): banks that are not in the first group issue their own digital assets with their own set of rules and controls.

[prtty2gal2]

This article is a good read:

https://www.forbes.com/sites/billybambrough/2019/02/15/the-end-of-ripple/

Ripple use case was only to have banks work with it, but now when banks are making their own cryptocurrency, is Ripple in trouble?

What ripple promises is the transactions and how cheap they are, they are not promising this to banks directly, of course it is worked best when its b2b and banks work with them but they are suggesting it in general so anyone can use it. If you need to send money to someone using ripple is a cheaper way than using a bank or something like western union.

However, considering they are using their coin to supplement their system and make sure they keep on selling the coin when they need funding and buy it back when they have funding to keep it alive is just shows everyone how centralized the coin itself is. It is probably the most manipulated coin out there and it sits on second or third place almost all the time when it deserves more like 30th spot at best. Can they switch from purely bank to "best transaction method worldwide" company ? Yes, but it won't change anything for the coin, just for the company.

[encycrypto]

I do not think that what banks create can be called cryptocurrency. These are rather some internal bonus points of the system.
But I still don’t support Ripple

Banks = centralised cryptocurrency
Ripple = centralised cryptocurrency

I honestly don't see much of the difference here! 

[lobo13hf]

ripples have indeed worked with banks a long time ago, but in my opinion after the bank made its own coins this would be very problematic for future ripples.

Because the bank doesn't need ripple again and i should remind you that the bank never interested in use ripple coin and these bankers are only interested in use the ripple protocol and then test it. After the testing goes perfectly and they will create their own protocol.

[encycrypto]

ripples have indeed worked with banks a long time ago, but in my opinion after the bank made its own coins this would be very problematic for future ripples.

Because the bank doesn't need ripple again and i should remind you that the bank never interested in use ripple coin and these bankers are only interested in use the ripple protocol and then test it. After the testing goes perfectly and they will create their own protocol.

Wrong. A lot of banks are even already using Ripple! With exception of JP Morgan of course...

[jan.nicolas]

It's strange that you do not summarize this case, because now I would generalize this case and it seems to me that people should summarize banks with XRP because without them this project simply will not happen.

[Cianix]

This article is a good read:

https://www.forbes.com/sites/billybambrough/2019/02/15/the-end-of-ripple/

Ripple use case was only to have banks work with it, but now when banks are making their own cryptocurrency, is Ripple in trouble?

Well, to gain such popularity other currencies need to try very hard , I think ripple is unlikely to leave the market it has long been used and will be used , I do not see any reason to panic )

[encycrypto]

Another article arguing about the same thing:

https://www.forbes.com/sites/francescoppola/2019/02/17/is-jpmcoin-a-serious-threat-to-ripple/

[dcomomal]

I do not like Ripple as a crypto currency, because I believe that this coin does not belong to this market. But despite all this I would rather prefer to use Ripple for my daily transactions as by doing it via traditional banking system.

[bigcash2011]

This discussion just seems to be never ending but i think we should support ripple in this war as whatever the criticism ripple still is part of crypto community as it is based on the blockchain technology so i will keep supporting ripple.