Ripple

[Black_Swan]

@Iprofit4sure

@Matt_Likes_Analysis

i still don’t think you get it. ripple is possibly the future. xrp is a pos and is doa. i can see that you’re struggling with cognitive dissonance when you try to justify xrp as an investment. your best case scenario is xrp being pegged to a basket of global currencies at a valuation above your purchase price. base case is xrp is not used and a new bank-sponsored utility coin is used. there is too much risk for any bank to send and receive thousands/millions of transactions per day in an asset that can go up or down 20% in a day.

It won’t be pegged to anything because it’s not a currency. No goods are purchased with it. A bank sponsored utility coin will never come out either. That would not be democratic enough. Banks do not trust one another and no bank, for example Wells Fargo would accept payment in JPM-Coin, for instance.

I’ve outlined that XRP takes 3 seconds to settle thus reducing that daily volatility dramatically and that their are companies who are interested in taking on that risk as a third party for banks anyway but you aren’t buyin it which is OK.

Why not? I don’t think either of these statements are accurate. You’re basically describing a next gen libor, banks trust each other enough to literally have hundreds of billions of libor debt outstanding which his by definition founded on interbank trust.

[Iprofit4sure]

@Black_Swan

@Iprofit4sure

@Matt_Likes_Analysis

i still don’t think you get it. ripple is possibly the future. xrp is a pos and is doa. i can see that you’re struggling with cognitive dissonance when you try to justify xrp as an investment. your best case scenario is xrp being pegged to a basket of global currencies at a valuation above your purchase price. base case is xrp is not used and a new bank-sponsored utility coin is used. there is too much risk for any bank to send and receive thousands/millions of transactions per day in an asset that can go up or down 20% in a day.

It won’t be pegged to anything because it’s not a currency. No goods are purchased with it. A bank sponsored utility coin will never come out either. That would not be democratic enough. Banks do not trust one another and no bank, for example Wells Fargo would accept payment in JPM-Coin, for instance.

I’ve outlined that XRP takes 3 seconds to settle thus reducing that daily volatility dramatically and that their are companies who are interested in taking on that risk as a third party for banks anyway but you aren’t buyin it which is OK.

Why not?

Why would they accept another financial institutions propriety coin that they are in fierce competition with? I’d actually say that is a way more unlikely scenario than XRP taking out the likes of SWIFT. Trust is not there for that.

[Black_Swan]

@Iprofit4sure

@Black_Swan

@Iprofit4sure

@Matt_Likes_Analysis

i still don’t think you get it. ripple is possibly the future. xrp is a pos and is doa. i can see that you’re struggling with cognitive dissonance when you try to justify xrp as an investment. your best case scenario is xrp being pegged to a basket of global currencies at a valuation above your purchase price. base case is xrp is not used and a new bank-sponsored utility coin is used. there is too much risk for any bank to send and receive thousands/millions of transactions per day in an asset that can go up or down 20% in a day.

It won’t be pegged to anything because it’s not a currency. No goods are purchased with it. A bank sponsored utility coin will never come out either. That would not be democratic enough. Banks do not trust one another and no bank, for example Wells Fargo would accept payment in JPM-Coin, for instance.

I’ve outlined that XRP takes 3 seconds to settle thus reducing that daily volatility dramatically and that their are companies who are interested in taking on that risk as a third party for banks anyway but you aren’t buyin it which is OK.

Why not?

Why would they accept another financial institutions propriety coin that they are in fierce competition with? I’d actually say that is a way more unlikely scenario than XRP taking out the likes of SWIFT. Trust is not there for that.

Obviously the solution would be a platform managed by a consortium of banks (rather than a single bank) which is what everyone is referring to. Even in the single bank case, as long as its simply a platform service banks have no trouble using each other’s platforms as 3rd party, they do it all the time. Your line of reasoning on this one is just weak.

[Iprofit4sure]

@Black_Swan

@Iprofit4sure

@Black_Swan

@Iprofit4sure

@Matt_Likes_Analysis

i still don’t think you get it. ripple is possibly the future. xrp is a pos and is doa. i can see that you’re struggling with cognitive dissonance when you try to justify xrp as an investment. your best case scenario is xrp being pegged to a basket of global currencies at a valuation above your purchase price. base case is xrp is not used and a new bank-sponsored utility coin is used. there is too much risk for any bank to send and receive thousands/millions of transactions per day in an asset that can go up or down 20% in a day.

It won’t be pegged to anything because it’s not a currency. No goods are purchased with it. A bank sponsored utility coin will never come out either. That would not be democratic enough. Banks do not trust one another and no bank, for example Wells Fargo would accept payment in JPM-Coin, for instance.

I’ve outlined that XRP takes 3 seconds to settle thus reducing that daily volatility dramatically and that their are companies who are interested in taking on that risk as a third party for banks anyway but you aren’t buyin it which is OK.

Why not?

Why would they accept another financial institutions propriety coin that they are in fierce competition with? I’d actually say that is a way more unlikely scenario than XRP taking out the likes of SWIFT. Trust is not there for that.

Obviously the solution would be a platform managed by a consortium of banks (rather than a single bank) which is what everyone is referring to. Even in the single bank case, as long as its simply a platform service banks have no trouble using each other’s platforms as 3rd party, they do it all the time. Your line of reasoning on this one is just weak.

So why would they invest all the time and money in creating something they are years behind on when they could just run pilots with Ripple’s Xcurrent and reduce costs by 40-60 percent like the company currently claims is possible all the while having Ripple being a truly independent 3rd party to facilitate transactions? Banks have never been very good at tech and should probably stick to…well…banking. Someone pointed out Zelle on here on earlier. I know what Zelle is, created by a “group” of large domestic banks, and quite frankly, it sucks.

A lot of people laughed at Jeff Bezos too I’m sure when he wanted to sell books to the world…

[Black_Swan]

Banks actually have great tech capabilities in the back office. Building it through consortium will allow more control and adaptability with regulatory overhang. The cost to build out block chain is not prohibitive and these back offices have significant background with transactional systems and technologies as well as better insight into their own systems and requirements. A better indication is that by and large most banks are conducting back office functions on internally built platforms rather than some third party system developed by Google. There’s little reason to think they’ll deviate from that approach now, this has little to do with whatever point you were attempting regarding Bezos.

[AbrahamIsaac]

BS will take you to Chinatown iprofit . Stop talking out of your ass

[Matt_Likes_Analysis]

to further support BS’s point about banks needing control… it is not just about what is cheaper. letting a third party control or even see transaction flows is a major risk to each and every bank’s existence. do you think that JPM is happy letting some 5-year old fly-by-night IT company leech money out of them and allow them to see their own or customer financial flows? they will not let this happen. no bank should let this happen.

to think that a few lines of code will result in a NWO is absurd.

[Iprofit4sure]

@Matt_Likes_Analysis

to further support BS’s point about banks needing control… it is not just about what is cheaper. letting a third party control or even see transaction flows is a major risk to each and every bank’s existence. do you think that JPM is happy letting some 5-year old fly-by-night IT company leech money out of them and allow them to see their own or customer financial flows? they will not let this happen. no bank should let this happen.

to think that a few lines of code will result in a NWO is absurd.

…They aren’t controlling anything…That’s the whole point of blockchain tech and DLT more specifically…If Ripple ceased to exist, RippleNet would continue to function. Currently, I have to go into my bank in person, sit down spend 30-45 mins going over paperwork with a banker to then pay my bank who then pays JPM, Wells, BNY Mellon etc. 40-50 dollars that I gave them to send money internationally. That results in hundreds of millions of dollars of fees and Ripple is about to change that, and dramatically. Ripple is already way ahead of all these BB banks and it’s gonna be an interesting competitive battle between them where I think Ripple is going to win for at least a few years.

All your guys’ points are just as much speculation as is my bull case for ripple at the current moment to be honest, so only time is going to prove who is right.

[Iprofit4sure]

@Iprofit4sure

@Matt_Likes_Analysis

to further support BS’s point about banks needing control… it is not just about what is cheaper. letting a third party control or even see transaction flows is a major risk to each and every bank’s existence. do you think that JPM is happy letting some 5-year old fly-by-night IT company leech money out of them and allow them to see their own or customer financial flows? they will not let this happen. no bank should let this happen.

to think that a few lines of code will result in a NWO is absurd.

…They aren’t controlling anything…That’s the whole point of blockchain tech and DLT more specifically…If Ripple ceased to exist, RippleNet would continue to function. Currently, I have to go into my bank in person, sit down spend 30-45 mins going over paperwork with a banker to then pay my bank who then pays JPM, Wells, BNY Mellon etc. 40-50 dollars that I gave them to send money internationally. That results in hundreds of millions of dollars of fees and Ripple is about to change that, and dramatically. Ripple is already way ahead of all these BB banks and it’s gonna be an interesting competitive battle between them where I think Ripple is going to win for at least a few years.

All your guys’ points are just as much speculation as is my bull case for ripple at the current moment to be honest, so only time is going to prove who is right.

PS: Ripple would NOT see any PII, RippleNet is a completely anonymous network where only amounts and wallet addresses are displayed. Additionally, those wallet address could never be tied to JPM accounts.

[Black_Swan]

So I’m guessing you didn’t use any of that dead cat bounce to get out?

[pokhim]

@Iprofit4sure

LOL nah. I am pretty confident this is just a correction. Same thing with the stock market. We will probably see bitcoin in the high 5 low 6k range (worst case scenario) which will correspond to an XRP bottom of high mid 50 to low 60 cents, then it’ll be right back to 2-3 dollars. It’ll see those levels again by May.

Got some way to go before we see 2-3 dollars. If it hits that in May are you gonna Hodl?..

[CFABLACKBELT]

Whatevez. AF so dumb. Ripple, Bitcoin, Ether wrong cryptos. Dogecoin to da Moon!

[video:https://www.youtube.com/watch?v=000al7ru3ms]

Seriously, this was worth $2B back in January…

[Sweep_the_Leg]

^And all you had to do to get some was ask for it on reddit.

[GorillaNerd]

^great content! the vid is hilarious

[Iprofit4sure]

Just got back to the states from a month in Thailand and Australia. I got out at 1.06 mid/late feb. May re-enter in the 40-50 cent range. I still think long term Ripple is going to be extremely successful and XRP will also. Just starting to not like some technicals in crypto/equities/where we are in economic cycle etc. It’s turning into a trade for me near term I think.

[IsThereAny]

@Iprofit4sure

Just got back to the states from a month in Thailand and Australia. I got out at 1.06 mid/late feb. May re-enter in the 40-50 cent range. I still think long term Ripple is going to be extremely successful and XRP will also. Just starting to not like some technicals in crypto/equities/where we are in economic cycle etc. It’s turning into a trade for me near term I think.

Of course you did.

[Iprofit4sure]

@IsThereAny

@Iprofit4sure

Just got back to the states from a month in Thailand and Australia. I got out at 1.06 mid/late feb. May re-enter in the 40-50 cent range. I still think long term Ripple is going to be extremely successful and XRP will also. Just starting to not like some technicals in crypto/equities/where we are in economic cycle etc. It’s turning into a trade for me near term I think.

Of course you did.

You sound salty with your hedged concentrated equity returns over there, buddy. Keep averaging in. You’ll be alright.

[IsThereAny]

@Iprofit4sure

@IsThereAny

@Iprofit4sure

Just got back to the states from a month in Thailand and Australia. I got out at 1.06 mid/late feb. May re-enter in the 40-50 cent range. I still think long term Ripple is going to be extremely successful and XRP will also. Just starting to not like some technicals in crypto/equities/where we are in economic cycle etc. It’s turning into a trade for me near term I think.

Of course you did.

You sound salty with your hedged concentrated equity returns over there, buddy. Keep averaging in. You’ll be alright.

Nah man I sold out of all positions at Jan peak.

[ohai]

If you think it will go up, why you sold at $1…

[Black_Swan]

llollololololllol