RE: RIPPLE: With a current Market Capital of approx. $7.9 billion and Ranked No.3 in the Crypto Currency Market, RIPPLE has seen an explosive 3 months..!!
I have to admit I’m an early adopter of Ripple. I bought a few a few years ago but not enough to get rich. But that is not what I would like to discuss. At the time when I bought my initial Ripples I was very impressed about Ripple’s Vision. I liked the idea to enable banks to send real time international payments across networks with traceability and low cost settlement. To their credit they exactly concentrated on their vision and indeed various banks are trialing or even using it today.
Did it bother me that the coins were pre-mined and owned by a group ? Not really. Some industries don’t like 100% open source or decentralized systems. I believe the bank industry is one of them and approaching them with a system like Ripple was the right thing to do. Also the latest announcement by Ripple to place 55 billion XRP in Escrow to ensure certainty of total XRP supply sends a signal to investors.
The major exchanges support ripple and the ripple network and its software (gatehub etc) is working really well. Only a mobile app is really missing here.
I truly still believe that Ripple is adding value and has much to offer. The price for the coin I find is still very cheap. What I don’t understand why other coins with less features are trading much higher than Ripple. Currently Ripple is around the 25c mark, very stable but not moving much. Banks are supporting it and it has a very active group working and supporting it.
What else is required to go for the next step for Ripple ? Do I miss something here ?
Because it's not decentralized I think many crypto enthusiasts are against it. Plus it has too many ties with banking with people in the crypto world which people also don't like.
To be honest bitcoin or Ethereum are not really decentralised either. Currently 51% of bitcoins are controlledby just five mining pools. This means the largest five pools working together could achieve a 51% attack and reverse transactions (double spend) at will. For Ethereum, this number is even lower: only three pools are needed for a takeover.
Yes the system might be decentralised but reality looks a bit different
Yeah my portfolio has a majority of ripple and I dont disagree. Just repeating what Ive heard many others say about ripple. Other downside about ripple is banks could adopt the technology but ignore the coin.
What can Ripple do that Steem (fast, free transfer) doesn't do better? What are the tokens good for?
well Ripple is more liked by banks because it can be more regulated than Steem. And exactly that might be the very thing why banks chose Ripple over Steem. I see both currencies adding value in the market place.
Yeah, I agree with you comments, but I am still curious if anyone is using the actual Ripple token for anything.