greenlanternlight01 (OP)
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February 16, 2019, 10:30:42 AM
Last edit: February 16, 2019, 11:15:48 AM by greenlanternlight01 |
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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-cryptoBut how will this affect XLM? |
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kindbtc
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February 16, 2019, 10:45:23 AM |
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Jpm coin is nothing but a dollar backed stable coin and both ripple and stellar derive their price from the market based on the principles of demand and supply and also on usage and adoption so i do not think their is anything adverse coming for these two and i think it is just the fud that is being created which will clear soon.
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OluwaTosin10
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February 16, 2019, 11:54:52 AM |
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Am not sure why xlm, stellar blockchain is dragged into this argument lol.
Ripple focuses on the banking sectors, and has its partners.
JPM coin is a private stable coin to be used only by the JPMorgan bank.
While XLM to my knowlegde, is a blockchain platform, that accepts smart contract creations publicly. anyone can use stellar blockchain.
JPM AND XRP are private coins i believe.
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BitcoinHodler
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February 16, 2019, 12:30:34 PM |
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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.
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Holding Bitcoin More Every Day
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hummer113
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February 16, 2019, 01:32:12 PM |
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I think Ripple and all of us should have expected this, Pandora's box has long been open, the strongest will win.
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dulinivanrus
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February 16, 2019, 01:40:43 PM |
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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-cryptoBut how will this affect XLM? I think that the competition will be serious, but generally there is a chance that the coin will generally not be implemented because this is a rumor. |
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rudolfaxl
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February 16, 2019, 01:42:14 PM |
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JPM is not a competitor to ripple or stellar. JPM is just a centralized dollar backed crypto of one bank. It's one of the biggest banks on the planet earth, but still it's only one bank. Ripple aims to be a crypto for a network of banks. It's totally different thing. XRP and XLM will not die - I give you 1000% guarantee.
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deodivine1
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February 16, 2019, 01:52:45 PM |
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It's ironical to see people who opposed crypto a great deal from onset tagging it scam now trying to harness crypto. If the JPM stable coin sprouts, definitely it's going to be a direct challenge to XRP with regards cross boarder payments since it has very strong backings and it's a stable coin.
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tomahawk9
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February 16, 2019, 03:27:15 PM |
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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. There's another option: each bank will eventually create their own blockchain and coin to make transactions. This will be the most likely outcome in the long run, meaning that banks won't adopt Ripple since they'll have their own private system for transfers/payments instead of relying in a pseudo-decentralized system. Same goes for JPM Coin, banks will use their private stablecoins rather than this JPM Coin, I mean, why give JP Morgan more power when they have the manpower and resources to create their own coin? |
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CryptoBuds
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February 16, 2019, 03:32:26 PM |
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I can't understand why everybody so worry about XRP and XLM. There are so huge forces between each of them so I doubt JRM is some kind of threat for them. Take it easy guys)
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kramchers
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February 16, 2019, 03:41:04 PM |
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Why is it a threat?
Because JPMorgans targeted the same project as what XRP has and still not developing now!
It is not just about RIPPLE!
It is not all about them as there are some who has the same project in the community even they develop the project still JP is nothing to be compared and its trillion worth.
will XRP die?
it may, slowly but will never happen in just a single snap as people still holding it and giving demands!
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Ispep
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The future of security tokens
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February 16, 2019, 03:41:49 PM |
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When you talk about competition to ripple,JPM is definitely not in the picture by a long mile,it may be doing things correctly little by little at the moment,but the ripple is by far ahead and more better than JPM. This is just a case if wrong and unsolicited information being spread to create a false impression in the hearts and heads of many
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cryptoman87
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February 16, 2019, 03:57:48 PM |
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Both coins (XRP JPM) even cant named as CRYPTO, its just centralised fiat. Both coins are totally useless for cryptocurrency sphere.
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ataki
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February 16, 2019, 07:42:31 PM |
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I think other banks will follow JP coin in the future. It is just another stable coin and competition is good. JP coin will increase the awareness of crypto and could attract institutional investors to the crypto market which is positive for the mass adoption of cryptocurrencies.
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jacafbiz
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February 16, 2019, 08:00:01 PM |
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This is going to end the Ripple hype, Ripple has been projected has a bank coin and when show comes to show, Ripple can't stand against JP Morgan in competition. What I am waiting for now is to see JPM Coin in work, until that I won't totally write off Ripple because the team too have come this far distance despite all the FUD it has suffered from the space, this is a new hurdle for them to cross and they need to manage this right
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[btc]YSG
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February 16, 2019, 08:02:14 PM |
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JPM coin is a threat to the Ripple's XRP? And that's it! It won't have any effect on stellar lumens, XLM is based on the stellar DEX and stellar blockchain which has several tokens issued on it.
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IVEXO
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February 16, 2019, 08:32:57 PM |
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The only problem I can presume for ripple is when every banks decides to go the JPM way by creating their own stable coin
That could cause an unfounded panic for the ripple market
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four3200
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February 16, 2019, 08:40:16 PM |
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Both coins (XRP JPM) even cant named as CRYPTO, its just centralised fiat. Both coins are totally useless for cryptocurrency sphere.
THE POINT is that zerp is also just centralized fiat. And the REAL sharks just entered the tank. |
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Bohr256
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February 16, 2019, 08:50:55 PM |
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Competition is always good. I wanna see now what the XRP guys are gonna do for their shitcoin.
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capableuwa1
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February 16, 2019, 08:51:15 PM |
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I understand that XLM is decentralized, XRP is centralized while the new JPM coin is meant to be a stablecoin to be deploy only in the JPM banking system because he controls alot in the traditional banking sector already. Well, I still believe there's no need in talking about XLM with her own Blockchain to a stablecoin. Once thing I have always understand in the space is that some set of persons spread Fud to buy the dip and possibly make some Profits from it. This is exactly what is happening to XLM and XRP I think.
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