JPM coin is a threat to the Ripple's XRP? What will be the fate of XLM?

[capableuwa1]

Competition is always good. I wanna see now what the XRP guys are gonna do for their shitcoin.

This is never a competition and I think it won't be. XRP is centralized as well as JPM coin will be also. So it is best we wait for what is to come. On the other hand, I believe XRP are ready to compete also if need be. But I don't think there will be any.

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Tl;dr

Let's don't think that whenever there's a coin generated and backed up by a gov't or well known company, it's going to be a threat to a certain coin. And it's confusing that you are asking something has stable value with those that doesn't have.

[fathur01]

the ripple guys have always been trying to hide the fact that their coin is centralized and this is no exception either. that is exactly what he is trying to do in that article one more time but the world will not be fooled by their lies that is why the value of their useless token is this low despite all the money they spend on advertising it.

Did they try to hide it, I can't remember it, because the fact that Ripple is a centralized coin, it has been said for several years. In principle, now it is difficult to find a coin that is not such and I think that JPM will not be an exception.

[xrpholder1982]

If you don't understand the global payments space than you won't understand how this is actually very positive for XRP.  XLM is irrelevant as they don't have a team able to build the necessary liquidity to process even micropayments consistently through any corridors without costly slippage.  What JPM is doing is simply creating some efficiencies within their own existing network.  But no competing bank will adopt it.  The only way a bank backed coin such as this is a threat to XRP is if you believe all global banks will agree on a single coin to use putting aside competitive and geopolitical differences.  Ripple is a centralized company however XRP and the XRP ledger are decentralized and permission less.  It's open and more decentralized than BTC or ETH while being the fastest and cheapest to use.  It was specifically designed to handle high-volume payments and the ecosystem continues to grow.  Currently its being used to send value across 44 currencies globally and liquidity is rising!  XRP will end up being the bridge asset between competing banks including central banks.  What these bank backed coins are doing is just creating more walled gardens and less efficiency amongst each other. 

[ansi]

JPM coin is going to be like Stable Coin in crypto man , like USDT & so on... that kin of coins which they claim to be = $1 in all market condition, like the real dollar.
It' not going to be for anyone, just letting you know, it' for major invetors in their banks, it's like a check or something like that that proves how worth REAL DOLLARS you have in JPM bank, that's all.
Nothing scary or threatening to crypto by JPM coin right now, but the good thing is that the biggest bank is using the crypto/blockchain technology which is a FREE marketing for this whole cryptosphere.

[Entei]

Good arguments and questions presented, but apparently many people use the BTC for another reason other than speed! I also don't think that the ambition of XRP is to make coin of all banks possible. Nor do I see any relevance to this JP Morgan project, except for the requirements and difficulties that this bank through governments cause in the cryptocurrencies. In fact, in my humble opinion, these things you mentioned is a very clear way of getting BTC of people out. However, XRP has strengthened a lot in recent years, this fight of coins banks will be interesting.

[romelitounknown]

Lol JPM coin is a very shitty coins and cannot be compared to xrp and xlm. Xrp and xlm were both strong coins with more uses and more supporters. JPM is none other than a Big Shitcoin.

[spngebob]

First they wanted to destroy bitcoin. Said bitcoin is scam.
Now they are creating their own alt coin. They are threat to no one, idea is to avoid banking system, so I will avoid their coin.

[Callanta787]

Why is ripple and stellar drag into this ? I thought JMP coin is a stable coin ? You can't compare them at all, JPM coin is backed by USD and ripple is based on the power of demand and supply

[Herbert2020]

Why is ripple and stellar drag into this ? I thought JMP coin is a stable coin ? You can't compare them at all, JPM coin is backed by USD and ripple is based on the power of demand and supply

because all these coins are considered centralized shitcoins that only focus on being used by the banks in a centralized manner. so while the other two coins are created by small unknown groups of people who made some money from their shitcoin's premine, the JPM coin is coming from a gigantic bank with a strong roots so it basically can make those other centralized shitcoins obsolete.
not to mention that it is showing other banks how to make their own coin so they will dump any relationship they had with these coins and do exactly that.

[ðºÞæ]

JPM private copy of xrp database is just the beginning of the next wave of private centralized money grap operations.
Not just Banks every large corporation like  GMO, a Japanese IT giant Facebook, Apple....will partake, taking fools money.

[cryptpedia]

JPM coin is another altcoin in the fray of the myriad that already exists. they all compete on an uneven ground. some have more funds than other but I dont believe any coin is a threat to other. A coin is a threat for itself if it cannot innovate. Ripple is bringing something most probably JPM coins doesnt have. They are now learning the very basis of how crypto works and how it can be implemented in the banking system. I think ripple has a fair advantage. It has experience and lot of endorsements already

[Ifemini]

The last couple of days the social media has been full with funny cartoons about the CEO of JPMorgan Jamie Dimon and the JPMorgan coin.

What will this mean for XRP?

JPM coin and the XRP are all the opposite of bitcoin and what we like about the new digital currency. It's another currency controlled by a group of few people (companies). Ripple has focused all it's efforts in cross border fast payment, offering an alternative to the swift system used by the banks. I don't want to focus this post on how much I don't like XRP, but rather how the new centralized JPM coin used on multi trillion dollar transaction will affect XRP. That's by far the biggest threat to XRP, more than the Bitcoin itself.

How will the banks adopt those coins?

Just JPMorgan itself does enough transactions each day ($5 trillion), and if I was a partner of JPMorgan I would have to use their service eventually. This takes out of the market a large portion of potential clients for XRP.
I'm not an expert on either cryptocurrency or banks but my guess is that this will have the following repercussions on each coin. The JPM coin will be adopted by the big banks doing multiple trillion transactions each day. The XRP will be used by the small medium banks.

Edit I found this article when the CEO of Ripple, Brad Garlinghouse responded to the JPM coin. https://cointelegraph.com/news/ripple-ceo-brad-garlinghouse-says-jpmorgan-coin-misses-the-point-of-crypto

But how will this affect XLM?

Ripple and jpm coin are quite alike
Private and stable tokens for private use any where

But xlm is a Blockchain project that enables the creation of smart contracts for public private and general usage

They do not correlate I believe