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RE: Does this Ripple tweet give us more faith in them?
I dont understand why anyone buys XRP, what can you use it for? I am into some smaller cryptos quite heavily, and it takes time to build an economy around a new currency, I get that.
But unless Im mistaken, there is no intention you will ever be able to spend XRP, its just a token for banks to use.
This is exactly what I was highlighting in the post I referred to that I've written a few days ago.
I don't even think Ripple wants XRP to get real expensive?
Yeah sorry I didnt read you other post before I commented, I will in a bit. Some people call Ripple a scam and I dont think thats true at all, but if people insist on buying something that has no value for them then thats not really Ripple Labs fault.
Ripple is not a scam, it's a legit company doing great things. But I do think we just interpreted their XRP wrong. I don't really see why they have it on the market at this point...
I assume its so banks can freely buy it to use in the transfer process, for anyone else it seems redundant
What I read in Ripple documentation is that when banks decide to work wit them, Ripple sells XRP to banks at the lowest possible price. Banks will never buy on the market. So yes, you are right. And yes again... for us folks it indeed seems redundant :(