Why I am buying some Ripple (XRP)
With the announcement yesterday that Ripple will be placing $55 billion XRP into escrow for slow release, I finally decided to invest in some XRP. By the end of 2017, the company will apparently place 55 billion of its XRP into escrow and will sell up to 1 billion into the market every month.
Ripple always seemed to be scorned for its huge coins in circulation and the fact that the company owned so many XRP. In some ways it's the opposite to Bitcoin and Ethereum that are decentralised as the centralised company works with big banks and business to provide a commercial solution using block chain technology. It's an investment I've decided to make based on this, to diversify my holdings in coins. The price has increased significantly in the recent months, but I think it's just the start of the movement as people start to realise that big banks and legitimate business are buying into the company.
I'll hold Ripple for the ultra long-term. It's not going to be an exciting growth story, but I expect it will steadily do well in the long run (10 years?).
Careful. XRP is not a required component of the Ripple Consensus Ledger. Not really a decenteralized product either.
A friend of mine warned me about ripple using the exact same weakness points.
Thank you. I was of the same opinion myself and to be honest, am still a little dubious. I think in the end I bought some as sort of a hedge against Bitcoin, Ethereum and my Monero.
Yeah not to say that it was not a good investment. I wish I put a few hundred in when I read their white paper years ago.
Yeah, I did some in-depth research on Ripple and I found they're basically a centralized database attaching XRP to their roster for publicity. In fact, Ripple distributes 1 billion XRP to themselves monthly. Investment-wise it all depends on the community not being well informed enough to see them for what they are.
liked
I will also increase my investment in ripple.
thanks for the information
upvoted followed and resteemed
Yep, I bought into XRP as well. Let's see where it goes.
good luck.
Thanks!
tanks for your information
I'm also on the XRP for the long term. Bank can have a huge strike power, if they hold a crypto-money, it could really be a wide expension. They could also made a bank card (I know they are other projects for that, but if the bank are on one of them...)
Good article. Good to see I'm not the only one who thinks like this. Sell the coins that you know nothing about. Do proper research on any coin you buy. If the market falls at least you can hold your coins knowing they have a long term future. This is quite an interesting website I found: 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. See: https://www.coincheckup.com/coins/Ripple#analysis To watch Ripple Report.