Ripple xrp

in #crypto • 7 years ago

My thoughts on ripple, First of all as a xrp holder I do have high hopes.
For those of you who may not know ripple focus on working with the banks to transfer money faster and cheaper by converting fait currency to xrp and sending it through the blockchain.
This would indicate that if ripple can keep signing up more banks to use xrp the market cap has to be massive and I mean massive to be able to transfer the huge sums banks transfer.
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Those are my hopes for ripple, until the logical part of my brain kicks in.

Half of me thinks ripple could have a private section just for the banks. why would they allow average people to potentially congest the network and profit from their business.
A big issue for banks will be the volatility for the price of xrp, is it possible for banks and ripple all to agree that one xrp is x amount on a private blockchain to avoid the issue of volatility.
Are the xrp that you and I have just a way to fund them and that they will never increase in value on the public blockchain.

Is it possible for them to have a private and a public blockchain?
What are your guys thoughts?

#bitcoin #ethereum #ripple
7 years ago in #crypto by
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     7 years ago (edited)

    Ripple claims to a blockchain-based cryptocoin, but actually it's not.
    Let me explain...
    The ideology of a blockchain says that it should be a distributed ledger. But Ripple completely violates it.

    Instead of allowing anyone to mine their coins, they have chosen nearly 20 professional miners to do the same and maintain their so called ledger which they term it as Ripple Blockchain.

    That's why it is partially a blockchain based. So, only those limited miners can own that blockchain.
    Today, news came that it has achieved a min. transaction time of 2 to 5 seconds..
    Read more...https://www.cryptocoinsnews.com/launched-ripple-blockchain-powers-bank-payments-thailand-japan-2-5-seconds/

    Thanks...

    Plz correct me if i am wrong..
    I am a software developer & a blockchain learner.

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     7 years ago 

    Volatility won't be an issue. They will simply use a liquidity provider. The liquidity provider will assume the risk of market swings while the tokens are in transit (only 10 - 15 seconds) and sometimes they’ll come out ahead and sometimes they come out behind.

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       7 years ago 

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         7 years ago 

        Good article. Good to see I'm not the only one who thinks like this. Buy and hold for the upcoming 2 to 5 years and the market will find it's way. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). I really advice people to take a look at: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. See: https://www.coincheckup.com/coins/Ripple#analysis For the Ripple Indepth analysis

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