This is the best thing I've ever read about #Ripple #XRP

in xrp •  7 years ago 

You're either a Ripple lover or a hater, it's the most polarizing coin in crypto. The classic argument s against Ripple is that the coin has no value, that XRP has nothing to do with how the banks use it, that it will be too volatile to use, and that the giant amount reserved by the company is pure evil incarnate. All valid concerns.

That is, until you read this: https://www.reddit.com/r/Ripple/comments/7pgvyc/heres_how_and_why_xrp_will_be_used_by_banks/

Then it all clicks.

The TLDR version in plain english:

Banks can use XRP or Fiat with their transfer technology. They don't have to use XRP. But if they do, they save 30%. Of course they're going to want to. It also eliminates the need for an annoying third account type they used to need when working with international banks.

Private clearing houses will ensure that XRP won't change value as it travels from one bank to another. To make this possible of course Ripple needs to hold quite a bit of it to spread around.

Now, all this aside ... as Ripple is limited supply and banks are all in on this and the government can't print more of it, the natural thing is that the cost will continue to climb as its utility increases and as it accumulates in the pockets of the wealthiest institutions in the world.

Hate ripple or not, you'd be insane not to hold some in your portfolio before this summer.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @tofuvoyage! You received a personal award!

1 Year on Steemit

Click here to view your Board

Do not miss the last post from @steemitboard:

SteemWhales has officially moved to SteemitBoard Ranking
SteemitBoard - Witness Update

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @tofuvoyage! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!