Why RIPPLE is going to be BIGGER AND BIGGER!
Value
To kick this off, like most people I am not an expert when it comes to blockchain and cryptocurrency. It's just really complicated, mostly abstract and technical. So bear with me while reading this article. There might be some things I get wrong and this article is by no means complete. Feel free to correct me in the comments :) What I do think to understand is that the value of a coin is connected to its day to day use. When it comes to cryptocurrency this use often is connected to a certain application of the blockchain technology.
STEEM'S value
This is one of the reasons STEEM has its value. People keep using Steemit, want to earn more by posting on the platform and demand is created. It is its own little universe where demand will never cease to exist as long as people are using the platform. Really smart thinking in my opinion.
What makes XRP valuable?
Now let's talk about Ripple's XRP. Again, I'm not an expert, especially when it comes to Ripple because its technology and application is way more complicated. But there are a few reasons why I believe Ripple's services will change a lot in the world and will bring the value of XRP up in the long run.
The problems Ripple solves
The products and services Ripple offers are focussed on banks and companies making a lot of international transactions. Everyone knows time is money. And when you make thousands of transactions a day as a bank, you want this to go fast and without time consuming hassle. This is one of the problems Ripple solves."Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts."One of the problems banks and also crypto traders encounter is high transaction fees. It basically sucks when you want to make a transaction with the goals of making profit and a part of this profit evaporates in the fees. Transactions made using Ripple's technology are very cheap and very fast. Note that this technology can be used for ANY currency. The goal is even use it between currencies."Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement."
Benefits of real-time use
It is clear that Ripple solves issues that are very important in global trade. These issues cover all currencies and all countries. In their technology of solving this issues Ripple uses XRP. So for as long as their technology is being used by banks and companies XRP will have value. And the more banks and companies will use Ripple's technology, the bigger the demand for XRP and the higher the value will get.The beauty is that Ripple's technology isn't just an idea or a startup without any customers. Ripple is up and running and working with a lot of banks worldwide.
Read up!
As I said, I'm far from being an expert. If you want to read more about Ripple and XRP be my guest and read the articles below.
"What is Ripple?" by Tiffany Hayden (@haydentiff).
All crypto currencies can be hard to understand. How do they work? What's the technology behind it? What creates its value? Because of Ripple's uniqueness its just a bit more complicated. Tiffany does a great job explaining it in her article. Hit her up on Twitter if you have any questions: @haydentiff
"The Tumultuous Rise of Ripple’s XRP" by Aman Trivedi of LTP.
Yes, at the moment XRP is way down, together with a lot of other alt coins. When Bitcoin settles down from its major bullrun these alts will probably rise again. Aman Trivedi takes a look at Ripple's history and what XRP has done since it has launched. Great valuable knowledge for the future to come.
Just a little bit about myself.
I started to share my thoughts and stories on Steemit because I have a deep passion to inspire people and make them think. I've always found inspiration in stories of other people's experiences and I love to share my own experiences on what I discover in my life. I hope some people might find some inspiration in thema and will help them to go further in life.If you liked this story please consider upvoting and following me. It would really help me to build a community of like minded people that motivate each other. Also I really love to hear your thoughts in the comments!I wish you well!Love,Koen Folkerts
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So true the ripple time has come now on fall some asian banks will start using ripple and the price will become skyrocketing!
I'm also curious for the big announcement. If it's true that a national bank will implement their technology than it's going to be Ripple and Ripple only. Exciting times!
In addition to the above article, following article is also informative..have alook...i am sure u ll like reading it,,
https://steemit.com/ripple/@lifeisfun/ripple-it-is-not-a-cryptocurrency
Hey Koen mate, very nice piece you got here! I have been anti XRP since I got into crypto (simply because I lost the second most amount with them trying to trade because I didnt know anything about anything and bought into the FOMO of the time) I have since learned from that but have always had that sour taste you know? From that I never really took the chance to observe Ripple and research it anymore (again a silly mistake, shouldn't dismiss something from a self acted error) Also partly because the whole banking and crypto is a little alarming... What do you say to people when they start saying banks are trying to centralize things and what not? I mean that adds to why I've strayed from them as well.
However I have made a nice little gain from looking at their charts the last few days so I'm not bashing XRP by any means, just more curious to learn more. Its obvious you've taken some time to research this more :)
Cheers mate!
ps I got here from this article with a huge thanks to @minnowhelp!!
thanks for the mention @diggerdugg :)
Ripple the only crypto doesn't fall its price last week while all other including BTC
Yes!
I think you have the wrong end of the stick when you write about Ripple. Ripple Inc is a company which is developing a system to replace the present SWIFT system. The Ripple coin will be useful for this service, but only to the tune of about $10 per bank.
Ripple Inc own around 60 billion Ripple coins. They have a vested interest in seeing the price as high as possible as these coins will no doubt fund their future development. Ripple coin may turn out to be a great investment, but I think that will be driven by more buyers than sellers, and mainly buyers who make the same arguments as you.
I don't think that the fRipple payment system has any impact on the coin price. On the other hand, support for the price is dependent on the Ripple In business being able to survive.
The reason why they own these 60 billion coins is because they are used in the transactions made trough Ripple. Xrp isn't a by-product, is a necessary part in how their technology is used and and why it's so fast and cheap.
The fact that anyone can trade in these coins is the by-product.
Actually XRP isn't a coin at all. It's a piece of code. Each XRP is divided into a million drops, which are also bits of computer code akin to a private key. It is these drops which will support the transmission of USD, GBP, EUR etc via the Ripple system. A typical bank won't need more than a few dollars worth of XRP to be able to carry out tens of millions of transactions. That's not enough to cause any impact on the price.
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Very good blog. Nice to see I'm not the only one who thinks like this. The cryptospace definitely feels a bit inflated. However we also said that about the S&P 500 40 years ago I really advice people to take a look at: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. For example: https://www.coincheckup.com/coins/Ripple#analysis To see the: Ripple Detailed report.