Ripple supply, dissolved fear?

in #cryptocurrency8 years ago

Is the new Ripple announce about supply a good news?

18 May 2017 - The recent announce from Ripple firm to gradually unlock $14bn of XRP caught the market on a history high. What does it mean for XRP and investors?

Just some brief info about this, the current amount of circulating XRP is reported to be around 38bn, the recent news is about 14bn of the 16bn still stored in the company account, so we are talking about roughly 37% of the current market.

The first thought is that, nobody has to be afraid about a sudden flooding of currency. Having a precise ("smart contract like" precise) calendar of currency dismissal is something the market could forecast and absorb in the XRP value.

On the other hand, avoiding the currency supply manipulation isn't something "we invented" cryptocurrency for?

I would say yes, but maybe they are just fixing the original sin of having created the currency in a centralized manner, and it seems they're fixing it in a good way through "unmanipulable" smart contracts.

We'll see.

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It is manipulation, but according to statements by Brad Garlinghouse, Ripples CEO, it's about granting investors a sense of certainty that the market cannot suddenly be flooded by currency:

"We want to make sure that the Ripple Consensus Ledger is the most robust, and that XRP is the most liquid, and I think this is a very positive step towards that."

Given that most investors will not dig any deeper, I can see this hurting the immediate speculative value, but does not change Ripple(XRP) underlying utility or economic values.. If anything, it's a good time to buy.

Absolutely, I just think Ripple as a completely different use case from most of the other cryptocurrencies, and from this perspective, I think they're doing good.

I agree completely, and tried to go over the use cases in the link.

I'm pretty happy with my XRP right now. I put >20.0 BTC in on 01MAY17 ($1369.55) - landing a ~867% roi to date.

Hope to get there soon ;)

:)) BTW I think they simply have a different use case, and maybe even Ripple could help to decrease the need of intermediary

Very interesting post! I will follow you!