Why Ripple (XRP) might be the future of digital payments

[Coin_trader]

THAT exactly what I'm thinking this pseudo-decentralized coin is all about making the dev rich LOL. But, in my opinion even if they partner with big banks it's not gonna make this coin as the future of digital payment easily. There are too many factors need to be taken into account and the big banks prefer to create their own digital payment anyway. The big banks also have brain to think that the dev reserved too much xrp to make it their digital payment so I think it's not gonna become what this topic's starter expected.

You are right that the downside of XRP is the Devs total coins in the pocket which proven that they are crashing the price by dumping huge chunk of there token. But in general specification of XRP in terms of speed and the transaction fee, There's chance that they might be use by the bank because they are already fully develop there own blockchain technology for many years and I believe this will be beneficial to the bank because they will not spend money on research that will result on same outcome with what XRP already achieved.

[meanwords]

There's already a lot of ways for people to use centralized digital payment besides XRP, so what's with XRP being the future? is it because the fee is cheap and it's fast? the same can be said with other digital payments. I don't know why this coin is even called decentralized when in fact it's the most centralized project at all. Not to mention that a lot of countries are creating or planning to create their own stablecoins which means the use of XRP will be hindered because of this.

[wanted sliter]

Paying in XRP offers many advantages to traders, but the question is, to whom will the transaction costs pass?
I have never been introduced to that feature.
Perhaps they need a DAO and vote for how transaction costs calculated?
I trust bitcoin more because it's decentralized and at least 2 million bitcoins have yet to be transferred. It's better than the CEO of XRP selling XRP monthly on exchanges.

[gwapoinside2]

I think it depends on what payment scheme. For banks and other financial institutions, centralizing payment would be good. XRP would be a good choice for this due to its centralized nature. But if decentralized payment where people want to pay without the middle entity between them, XRp would not be a good choice.

[xZork]

Ripple (XRP) is a centralized cryptocurrency so investors in the market and governments don't like it.
Usually the US government will prefer to pay with $ and the Chinese government will prefer to pay in CNY. As far as I know, no government wants to pay with a currency they cannot control.

[Coroline]

Paying in XRP offers many advantages to traders, but the question is, to whom will the transaction costs pass?

...there are no miners of Ripple coin. So, who gets the fee? No one!
In this unique mechanism, the XRP that is used for paying fees is destroyed.
This means that the number of XRPs are reducing day by day. This also implies that the value of the XRPs that remains is expected to increase in the future.
Ripple is being piloted by many large financial institutions and payment apps. This is one of the key reasons that Ripple is a favorite among investors.

As usual, all coins are bound to have their flaws and XRP cannot be separated from that.
Some of the shortcomings of XRP that of course you don't like are Centralization, Focused on large corporations, Competition

Source
[1] https://www.bitdegree.org/crypto/ripple-coin#ripple-cons

[sayulita]

Paying in XRP offers many advantages to traders, but the question is, to whom will the transaction costs pass?

...there are no miners of Ripple coin. So, who gets the fee? No one!
In this unique mechanism, the XRP that is used for paying fees is destroyed.
This means that the number of XRPs are reducing day by day. This also implies that the value of the XRPs that remains is expected to increase in the future.
Ripple is being piloted by many large financial institutions and payment apps. This is one of the key reasons that Ripple is a favorite among investors.

As usual, all coins are bound to have their flaws and XRP cannot be separated from that.
Some of the shortcomings of XRP that of course you don't like are Centralization, Focused on large corporations, Competition

Source
[1] https://www.bitdegree.org/crypto/ripple-coin#ripple-cons

So you mean to say that ripple is not having any miners and the coins in fees are constantly being burned!! That is really a good thing but still the fact that it is a centralized coin is the biggest drawback that any coin could have because whenever hey want they can increase the circulating supply of XRP or they cant?? I don't know this for sure, if this is the case then XRP does actually pose a major drawback and we as crypto users and investors should avoid using XRP which I always have been doing till now.
Please do tell me that the supply is fixed or it can also be changed or not??

[acdc]

It won't be the future of payments, it'll be just like any other altcoins and cryptocurrencies that we have.

I agree, although Ripple (XRP) is fast and has low transaction fees, it is very unlikely to become the future of payments. Banks and governments will not let a currency they have no control over become the future of payments.

[SquallLeonhart]

Unfortunately there will always be people that will make sure that they believe some coin to be the greatest ever, and unfortunately they will always lose money. When you believe a company to make money for you, you should by that logic be involved in stock market and not crypto.

The reality is, how good XRP does all depends on how great Ripple does and if the company doesn't do well in the future and somehow they bankrupt that means XRP will go down and be nothing as well, why would I put all my money into success of a company? If I wanted to do that I would have done it in stock market, there are much better companies to invest into above Ripple so there is no logic there. Why do I invest into bitcoin? Because I believe it is standalone great and no one can ruin it.

[Danslip]

BTC as the store of value is not a candidate for daily payments because of the low supply and high transaction fees but XRP has the mentioned advantages. Unlike the high fee required altcoin transactions, it costs less than $0.01 to send/receive transactions which is a big plus in the long-term payment contracts. Nobody knows, XRP will be with us after a decade because in 3 years better projects can take leadership. Ripple as a payment gateway can be successful project, I dunno it is still worth to invest in high supply altcoin even if there are nice partnerships between Ripple-Western Union.

[NoG-NoG]

I think it might really possibility to happen and if I'm not mistaken some of the online platforms here in our country are now adopting and accepting cryptocurrencies such as bitcoin, ethereum and most especially Ripple as a mode of payment.

[fammy]

It is really a good news if this will happen and it will really be helpful to us if this will work knowing the fact that it will make our mode of payment and transaction less hassle and more convenient. Hope that it will really happen sooner or later.

[Ozero]

I think it depends on what payment scheme. For banks and other financial institutions, centralizing payment would be good. XRP would be a good choice for this due to its centralized nature. But if decentralized payment where people want to pay without the middle entity between them, XRp would not be a good choice.

Yes, ripple is mostly good for the banking system. Also, some users now use this coin due to its low cost, speed of transactions and low fees. However, many decentralized cryptocurrencies are now achieving roughly the same results. Therefore, I do not see too much future for this coin. It is very unique and has its own niche among other types of cryptocurrencies. However, it cannot claim more.

[chikator]

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

Also with the news of more properties by 2021 i do not see why not. I have always believed in ripple and a lot of other people believe it would be the future of coins being used in everyday transactions.

[marks1976]

I agree, although Ripple (XRP) is fast and has low transaction fees, it is very unlikely to become the future of payments. Banks and governments will not let a currency they have no control over become the future of payments.

Banks and governments have already prepared what we have called that as CBDC and it has become the main option to follow the trend that is still happening in the cryptocurrency.
In fact that so many people were also seeing this as a big threat for the crypto that oriented to be the next payment channel system.
I should remind everyone about this as ripple is not the fastest one.

Ripple has a lot of clients didn't mean if ripple will actually become the main choice for the future payment channel. So many new platforms have come with better features than it.

[pixie85]

A centralized shitcoin like XRP will never be a future of anything but Ripple company.

It made millions of dollars making promises and selling them to gullible investors and it's going to keep making money as long as they have their premined coins to dump on the market.

[rahmatullah9305]

Also with the news of more properties by 2021 i do not see why not. I have always believed in ripple and a lot of other people believe it would be the future of coins being used in everyday transactions.

Yes, and I think that is very reasonable because everyone is certainly looking at the development results that have been obtained by the Ripple token in general, so that many people like and believe in this token, both at this time and in the next year in some way.

[Vishnu.Reang]

A centralized shitcoin like XRP will never be a future of anything but Ripple company.

It made millions of dollars making promises and selling them to gullible investors and it's going to keep making money as long as they have their premined coins to dump on the market.

Exactly. They have one of the best PR campaigns and they managed to fool millions of unsuspecting investors in 2017 and 2018. XRP made many of its founders billionaires. Brad Garlinghouse, Chris Larsen and Jed McCaleb are among those who reaped billions from XRP. If you ask me which one is the biggest cryptocurrency scam, then I would say that the honor goes to Ripple. It ranks well ahead of PlusToken and OneCoin.

[noorammak]

Ripple is fun, it's decentralized, transactions are fast, and transaction costs are burned down. It also means that the more people who use XRP, the more the number of XRP decreases over time.
For now, Bitcoin is still the most reliable and active cryptocurrency today. In the future maybe everyone will keep an eye on Ripple.

[aceboy44]

Did not bother reading through all of the posts here. However, if someone can respond to this guy I would really appreciate it. Until then I shall not invest in XRP:

Absolutely not. Why would that ever happen? I mean, why would even $3 ever happen again?

So they make 100 billion Ripple. Cost to do that is a little computer time and enough electricity to run your alarm clock for about an hour. It goes for years- not worth a penny. There are billions in ‘circulation’. So who initially owns those billions? A few guys at Ripple head quarters and some venture capitalist that loan enough money to pay salaries for people doing Ripple ‘work’.

So 2017 comes around and POW!! It rockets up to $3. Now a lot of little guys are out there buying that at $2 and $2.50 and up. Who is selling? The guys holding those billions and billions as they are the only source. They are making a shitload of money. Then the crash comes and Ripple plummets to $.30. All those little guys that bought in high have now lost their shirts. But Ripple boys weren’t in there buying their own coins—they were selling. They have all that money in their pockets now.

So now it rests at 30 cents—which is still a hell of a stack of money for the boys that STILL HAVE billions. (You really think they gonna let you have some of that?)

And it IS all still for sale..er I mean ‘in circulation’. It may be ‘in circulation’ but that does not mean it is widely distributed. Ten guys could hold it all for that matter. What do those ten guys need? BUYERS.

Now for the good part. Not only do they hold most of the 42 billion ‘in circulation’—they also control the 50 billion in the ‘escrow’ account. Every month they take another billion out of the Escrow account and sell part and put the rest back in ‘holding’. I bet the selling goes to pay for the ongoing overhead at the Ripple factory. And I bet the rest goes back ‘out of circulation’ because if they released more on the market and increased supply the price would plummet and the Ripple factory would go broke.

So, how do I, as an investor, make any money ‘investing in Ripple’? Any time the price wants to go up there are a billion more dumped on the market to suck up all that juice and you sit there wondering why the price doesn’t go up and give you a return on investment. I don’t know, but I would be surprised if the Ripple factory owned less than 80% of the Ripple. That is too much control to give anybody a fighting chance. And that fighting chance?—yeh, you don’t have it.

And then you realize that Ripple is for big banks to settle accounts. It is not designed to be a ‘mainstream’ currency. It will help big banks and credit card companies to easily SETTLE accounts in full (the money actually goes over to the other entity) in seconds. Good for them-more profits yet.

Whoopie Kai Yai Yeh. They want a stable priced coin to do that-a stable coin. A coin worth the same today and a year from today. If its not meant to go up or down, how do you, little man, make a penny? They want you all to drive the price up again so when they finally sell it to the banks that price is as high as it can be.

The CTO of Ripple did reply to one of my posts with some talk of the little guy make ‘heap big wampum’ but they would have to ‘wait a bit until it matures’. I also asked what happens to the coins ‘in Escrow’ but I haven’t heard back yer. So there you go from the ‘horses mouth’.

I am also not saying that money cannot be made with Ripple. If you are lucky and diligent in the day trading you may see some short term gains with a lot of risk attached. That will be viable until the ‘stable’ price is set. Then you are done.

And let me warn you now. This big ‘Ripple Convention’ is coming up and you can bet there is going to be untold amount of BS tendered out there to show how well they are doing and all that hype may even pump the price for ‘good news starved’ traders and speculators. But I suggest you examine what comes out of that format very carefully. See how often ‘opportunity for the small investor’ comes up verses ‘rapid split second transaction speeds in intra bank transfers’. The novice might think they refer to a mainstream usage and jump on it as all he has heard is that rapid transaction speed is the crypto holy grail-its not. There is a big difference between mass global usage at the retail level verses a few humongous bank transfers with a ‘crypto’ currency that just a fiat shill with central control.

This is how it looks to me. I am open to being corrected and would welcome someone to ‘change my mind’. Have not heard any takers though….ever.