Ripple will probably never take off
Ripple will probably never ever take off
The argument that trumps all arguments
To be fair, ripple has never been intended to work as a medium for investing or storing wealth. Ripple intends to work as an intermediary, essentially a bridge between banks for settling payments. Why would banks use ripple the first place when they can hire a team of specialized workers, issue their own private currency/blockchain and settle payments by themselves?
Issuing your own cryptocurrency is very cheap. Its open source, its available, its fast and relatively easy to set up. There are a myriad of altcoin teams that easily can be contacted (including the ripple team) by large banks to set up their own system.
Banks will not simply lay themselves down and give in. Banks are all about storing and increasing the value they are holding for themselves and their investors. Using ripple must either be so cheap, hasslefree and above all secure that setting up your own private blockchain shouldn't make economic sense. If the total cost of using ripple overtakes making your own blockchain, there is only one choice for banks.
This is why ripple will never take off. At best, its a very expensive promotion for the ripple team to get picked up by banks for their private blockchains. YOU will probably never profit from ripple.
As always, don't listen to me, do your own research and draw your own logical conclusions.
Dr DMD
https://www.reddit.com/r/Ripple/comments/6ywaog/why_ripple_will_never_succeed/
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STOPYou didn't talk about any of the recent developments with Ripple and that's a shame because your article reads the same as the sort I read when I was very negative about Ripple after wasting money in it in July, I definitely didn't expect them to come out with all this interesting news.
I mean daaaamn they have Ben Bernanke of the Federal Reserve as a keynote at Swell as well as a load of CEO's of the Banks speaking that you say will take it up.
You can't write an article like this and not talk about what's happening right now or it just sounds like general FUD which made sense a few months ago maybe. but it doesn't cut it now
(didn't you say you sold all your Ripple to buy Diamond? Maybe it was someone else.)
I can only reply:
https://www.coindesk.com/jpmorgan-launches-interbank-payments-platform-quorum-blockchain/