Would you like to get schooled? Because you clearly haven’t done as much DD. I will spare you the embarrassment though. It’s obvious you are a consumer of Zelle’s smoke and mirrors the banks are selling to customers. Under that plain vanilla layer is nothing anywhere close to RippleNet’s tech.
It works great im sure…for now, until those banks start passing on the massive costs they are incurring to make you “think” your money is transferring instantly. Amazon prime membership cost or Netflix subscription hike? enjoy it while it lasts. Also, goodluck trying to send money internationally. That won’t happen either.
Really not sure what you guys have against Ripple. They continue to prove themselves more and more everyday, so why hate?
It’s more because you seem to be making a huge deal about making $100k, which in the bigger picture is not a lot of money, and seem to be ignoring the risks of such a volatile asset. I don’t have a view on any particular cryptocurrency. However, at the point where people become evangelistic about something, perhaps it is time to ask whether their decisions regarding that thing are still rational.
Well I’d be lying if I said I wouldn’t be thoroughly pissed if they IPO’d (which has been discussed as a possibility) and my XRP coin does not convert or at least have the option to convert to stock as a retail holder of it and I get F&*% over that way.
This is why I can’t pull the trigger on XRP. The company and RippleNet have tremendous value. As soon as the big banks are out of pilot testing and into adoption/implementation, say good bye to SWIFT.
I also agree with you on Zelle. It is lipstick slapped on a pig. RTP on the other hand is fantastic but there are way too many limitations and it is all domestic. Ripple on the other hand is valuable for global payments (domestic too), a market dominated by SWIFT which is owned by its member banks.
Having said that, I think Ripple needs to target the money transfer companies instead of banks. Entice them to penetrate the market and then light a fuse on the banks’ asses. Why would banks volunteer to switch over to ripple today and lose out on the $25-50 they are making per international wire? Its a tough sell.
Yeah, there’s no way banks will be early adopters of any of this crypto stuff, since they have 10x the regulations of other industries to deal with. It’s really the PayPal sorts of places, or maybe Visa or something, that have potential to scale the technology. I doubt that costs will really go down for consumers though. Every single one of these companies makes money from payments, and so will any new ones that come up.
US banks, I completely agree. Regulation is the top reason why the media is saying right now that “No banks are uses XRP” yet of course they never state this. However, Ripple Labs is and has been assembling a team to work WITH regulators/SEC/FINRA etc and to beef up the compliance to make sure that eventually they will. It’s a crawl, walk, run situation that they have said will no doubt be a marathon until they can get major US banks on board. The goal is to let them use the tech first to transfer fiat on RippleNet then incentivize them to use XRP (That’s where the major risk is) since they may simply say, no thanks, keep your XRP.
As for the international banks? Japanese and Korean banks just wrapped up pilot testing of XRP transfers yesterday and they are more aggressive in their push to not only use RIppleNet to transfer fiat but also XRP.
So yes, there are a lot of what ifs, and I have never said that I am not speculating, but I do see the potential and I am willing to take on a ton of risk. No kids, No family, etc.
^lol when my buddy had 150k on bitcoin. at the time bitcoin was like 2k. he told me bitcoin was going to go to 10k and that if it ever did we woulld roll in rolls. it hit 20k but we still rolled pretty fly with the beamer. anyways how old are you?