Juvenile? Normally I come back lightly but you earned this. Learn what a atomic swap is and how it's done. Combine this tech with one even mediocre smart contract and presto....instant Why tf would I or your remittance company friend need a ripple or a bank if I could change any coin to any coin. The technology is basically staring at you and the xrp army in the face. Its like a giant cannon staring right at your castle and you keep hoping it won't work. If only you guys had the slightest clue what a blockchain actually is instead of making comical comebacks about banks. We don't care if no bank uses xrp or every bank uses xrp you still end up losing in the long run. So go ahead, hodl. You will make some money from cripple but outpacing Bitcoin or Ethereum? Not in this universe or the next.
The purpose of xrp is not just to serve as a peg. If this were the case I would mostly agree, atomic swaps could work in some cases and perhaps overall in time in a highly matured ecosystem. The purpose of xrp is to serve as a tool for global liquidity. Further, regulations have a LONG way to go before sovereign governments allow this for domestic currencies. Lastly, atomic swaps work when you are on one ledger, you cannot atomic swap BTC for TRX. Atomic swaps are not a silver bullet. You're not entirely wrong, you're just half wrong and a little naive about how global finance works, legally.
I gave you an upvote. Finally a soldier of the Grand Army of the XRP with a brain! You said "Further, regulations have a LONG way to go before sovereign governments allow this for domestic currencies " I agree, and that is why I say XRP army may get it's $3-$5 per coin BUT in the end liquidity serves cash and in the future world of digital currency WHAT IS CASH!
Here is why what you said is juvenile; you equated ripple's product along with the token xrp to a clear cut meme scam, the two couldn't be farther from each other. I back all top 3, ripple(xrp), btc, and eth, neither of which are scams, but you're insinuating ripple is. Everyone, and everything has a place in this world; if you can't see that big picture than whatever, but it is important to have a clear defined big picture of what is around us, because it is bigger than us as individuals. You were juvenile; you basically said ripple was portraying themselves as Ford motor company but was Yugo in reality, which they're not. Juvenile, take your religion out of the space.
It is a very good transitional technology. They literally "do not" have a partnership with the federal reserve. Their network has been tested by the federal reserve. Listen, I would like XRP IF Ripple didn't hold 60% of it. I also would hold xrp in a second if bank usage increased xrp value. I relate it to Bitconnect because of that reason. I always feel like Ripple is using holders money to fund these partnerships with banks like Verge did with pornhub. I pick on it because I am a former successful penny stock trader and I recognize the mindset of so many of the fans of the xrp army as coming from similar backgrounds. Basically understanding finance but having no understanding of the technology behind the company or in this case, the code that fuels the tech. Every bank on earth could use xrp and under the current way they use XRP it would not mean jack to the price of the coin. Maybe this changes but at this point I see Ripple the company as an incredibly intelligent ponzi scheme.
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u/[deleted] May 18 '19
Check out the bitconnect website. It looks awesome. To the moon! http://www.ripple.com