Genuinely watching Ripple while trying to avoid the extremes of the pumpers. Unfortunately I got into the blockchain space late but have been devouring information like crazy. While waiting for my funds to transfer in to any exchange I could get on was painful. While waiting for a wire, then Crypto Capital to CEX, Ripple moved from 0.23 to $2 (CEX was early for the move up due to low volumes). This was beyond frustrating. When I realized my Bitfinex account was set up - yes you can trade without being verified - I felt that Ripple already went too far too fast (at $1). The latest news took it to $2.40+ but the cliff is now occurring. To me, this is more like a buy on rumour, sell on facts (aka pump n dump) than a real value play. Or is it?
Why? Anyone who really researches blockchains, knows the limitations. IOTA is hands down better and solves all the blockchain issues. I don't foresee banks or others going with Ripple if IOTA creates their own version, with none of the same issues as blockchain. Ripple was great for anyone who got in sub- $0.25, just as a spec trade but I don't see any future value in Ripple, once banks realize:
Ripple is only needed for the short term, until they develop their own, most likely based on Tangle.
IOTA's Tangle is better, with none of the blockchain issues.
Financial powers use a Tangle based crypto created by IOTA.
Governments create their own Tangle based cryptos.
Ripple was a great spec trade and I'm sure made many people a lot of money. Can anyone tell me how Ripple can make money and why that justifies a crypto value of 100B+ in market cap? I can understand the spec trade, but not the value based on technology that is already outdated compared to the competition.
IMO, the future belongs to IOTA or another block-less technology.
Bình luận
⋅
Should have put neutral, not short (for some reason, not changing when editing). Still a good trading play, while watching what happens.
Bình luận
⋅
Ripple back under $1 as fear sets in and herd flees? If Ripple crashes, how low can it go?
Bình luận
⋅
Just a question - again coming from someone who was going to buy as spec trade at .23 but couldn’t because my funds didn’t get deposited! Aside from being trialed at moment by some financial players - what gives Ripple any true value? With 100B units, how can it justify a 200B market cap? It’s not a store of value, just a way to facilitate fiat money transfer. In 2018, I’ll bet that most countries will start on the path to their own crypto version of their own currencies. It’s inevitable. What do you think will happen to Ripple then? Currently if every transaction burns some XRP, then millions daily would burn the supply - which means it would need to be replaced. What am I missing? I’m leaning to IOTA for the non-Blockchain play and for Blockchain, seems NEM and Cardano have better tech. I was a Ripple fan when it was a quarter, but don’t see how the valuation is justified when market cap (including units not in float) is over 200B for a company not making money?
Bình luận
⋅
Is Ripple headed back to test 2.09 or 1.60? Possible sideways trade for the next while? Will there be a move back to it's previous high or break down. Should prove for an interesting few days. All I know is that without regulation, groups/individuals with big money seem to be able to control these markets. Good thing they seem to be following technicals (which I am no expert at but do admire those that are). With private groups, snapchat and more, who knows what the big money players are up to. Keep the fight up you all!
Bình luận
⋅
Ripple about to blast through $2...?
Bình luận
⋅
Went through $2, couldn't hold and looks like it may go back to test 1.60.
Bình luận
⋅
Finding support at 1.90, if it breeches, then 1.60 looks like next level
Bình luận
⋅
Back to 1.90, they're trying to hold...
Bình luận
⋅
1.90 breached!
Bình luận
⋅
Amazing spec trade! As value, still trying to figure out where it comes from? Ripple owns 61% of XRP, total 100B units. 38.74B in circulation. Company I'm assuming is not making real profits yet or not enough to justify XRP market cap over 100B. So, really it is coming down to people speculating on XRP, as XRP is not shares in a company. Hmm. Think about it, XRP is not a store of value like Bitcoin, so what justifies its price long term? Again, great to ride the spec wave, but...
When IOTA creates a Ripple killer a USD pegged coin, XRP is done. IOTA will hopefully create this soon, as well as an Ethereum killer. Waiting for it.
Bình luận
⋅
If Ripple drops below $1.60, it could be below $1 fast!
Bình luận
⋅
It's breaking down, fall to $1 coming??
Bình luận
⋅
South Korea to ban crypto trading? Bad news for Ripple.
Bình luận
⋅
Well Ripple survived on a massive rally up from 1.60 to just over 2.20 but didn't hold it and tried again one more time on lower volume to ~2.16. This was probably a manipulated rally to try and get interest back but the real volume didn't show up. Even the Moneygram trialing XRP play didn't work.
I repeat, Ripple/XRP had no real value aside from a trade. No one in any article has answered HOW RIPPLE WILL MAKE MONEY. You that real world stuff that pays bills and keeps your business afloat. The Ripple insiders became insane billionaires off the herd...period. They were an amazing speculative trade, nothing more.
Why the Hot Cryptocurrency Ripple is Going Down in Flames
"But not all the transactions that banks make on the Ripple platform have to use the XRP tokens, as was pointed out by The New York Times. Instead, banks could use dollars, euros, or another local currency on the Ripple platform, circumventing the alt-coin.
This cuts into what some buyers of XRP hope: that it can become a “bridge currency” used by financial institutions to make payments across borders.
In other words, as investors come to realize that Ripple the company does not need XRP the token to soar in price to be successful, investors may further cool to XRP."
Bình luận
⋅
It's terrible when my call is turning out right but I'm in the wrong time zone...
I'll never forgive Coinbase. I bought Bitcoin to transfer to Binance to buy Ripple at .28. I used my bank and the agreement said 3-5 days, after I purchased the pop up said 10 days!!! I had to wait 10 days as I watched xrp climb to 1.21 before I could get it. I was held up in verifications on 5 other sites. I added a credit card to CB to buy immediately and they wouldn't give me my $750 saying I was over my limit, not having bought anything with a credit card! I was locked out due to a programming glitch. Called twice waited 3 hours on hold only to get someone who hung up on me seconds later. Both times. I found an email later from customer service later and replied, but they never got back to me...ever. Helplessly waited 10 full days while Bitcoin went down and Ripple climbed. I HATE Coinbase. Don't rely on them in high traffic times. Get your coin out so you can buy and sell it when you need to. They need to be reigned in on this monopolistic power trip they are on.
Miykael
⋅
@Renaissanista, I feel your pain. Similar situation happened to me on CEX! Moved everything over to Bitfinex and just registered on a few others. They Coinbase/GDAX registration had some sort of glitch on me too, so I didn't bother finishing it.
Miykael
⋅
Just a question - again coming from someone who was going to buy as spec trade at .23 but couldn’t because my funds didn’t get deposited! Aside from being trialed at moment by some financial players - what gives Ripple any true value? With 100B units, how can it justify a 200B market cap? It’s not a store of value, just a way to facilitate fiat money transfer. In 2018, I’ll bet that most countries will start on the path to their own crypto version of their own currencies. It’s inevitable. What do you think will happen to Ripple then? Currently if every transaction burns some XRP, then millions daily would burn the supply - which means it would need to be replaced. What am I missing? I’m leaning to IOTA for the non-Blockchain play and for Blockchain, seems NEM and Cardano have better tech. I was a Ripple fan when it was a quarter, but don’t see how the valuation is justified when market cap (including units not in float) is over 200B for a company not making money?
JStaffs77
⋅
@Miykael, Each transaction does burn a little Ripple but each transaction doe snot burn a whole Ripple. Each RIpple is made of 1,000,000 drops and this is what is burns.
JStaffs77
⋅
@Miykael, WIth regard to RIpple and what is has over other coins, is credulity. It has worked to build a trusted relationship with the banking sector with experts at its helm in blockchain, banking, international currency exchange, regulatory compliance etc. The fact it has a company that the banks can deal with as a legal entity allows this to happen. Think of it, would you want your FIAT money to be entrusted by your bank to a public none regulated blockchain?
Miykael
⋅
@JStaffs77, Thank you! Now that I've researched Ripple more, I'm pretty well a non-believer now. I'll focus on IOTA & Hashgraph (when ready):
james.r.preddy
⋅
I am a firm believer that XRP will solve the short term transactions issues facing bank liquidity and has the potential to be the long term solution for banks that find the XRP block chain cost effective such as American express, Santander and Standard Charter which was reported by CNBC
"American Express, Santander team up with Ripple for cross-border payments via blockchain" and confirmed on Ripples Bank Case study section.
Other banks will implement their own system which was reported in the Financial Times "Six global banks join forces to create digital currency" UBS and HSBC are some of the banks working together. This will be bad for the whole crypto world as the banks will win the rhetoric battle of the decentralized aspect of the blockchain argument!
This technology is definitely beneficial on processing times, validation and most importantly security aspects! As we spend more and more money via wireless cards, phones, watches, ext. These transactions are going to need to their own secure world. For it to work on a mass scale, then the decentralized aspect should be inevitable in order for to keep transaction time speed up.
Miykael
⋅
@James.r.preddy, great points! I do think the inevitable is countries will create their own crytpo version and that will make transactions seamless. So, Ripple's great idea won't last but in the near term is viable. Still I don't see how the valuation is justified for a company that's not making any money? Compared to real world businesses, crypto valuations are ludicrous but knowing that, trying to find the long term winners.
VanBenno
⋅
No one "uses" DAG's yet. I wouldn't get too excited about Iota just yet. They still need to patch up the vulnerabilities in their code. Someone found a way to hack the DAG in a way that it allowed them to create "free" Iota and trick the network into making them look legitimate. luckily this was a Whitehat. But bigger problems were revealed. They developed a proprietary hashing algorithm. Which is universally considered to be one of the dumbest things anyone can do if they're trying to make a serious / legitimate product. One vulnerability was already found. What else is there?
We won't know and can't know for a long time.
Also, Iota isn't to be used for finance and has never been used by "financial powers". The founder, David, has stated several times that Iota is for machine to machine communications as a protocol. Not necessarily a value transfer service. i.e. you can use the Iota network without actually using / sending Iota. And he has stated several times that Human to Human transfers of data or value will *never* be the focus of the Iota protocol.
DAG's may be valuable in the future and are certainly more useful than blockchains, but Iota is not the one I think will end up winning the race. That is, if we aren't all just buying the equivalent of Beanie Babies right now -_-...
Miykael
⋅
@VanBenno, Microsoft Windows come to mind ;) full of holes and people still use it. I guess we'll see if IOTA can capitalize on its tech and brand to be the market leader. If Tangle can replace blockchain for one application, it can probably do it for all applications, just a matter of figuring it out.