/biz/ - Business & Finance

[Anonymous No.14773211]

Can anyone explain to a grug brain like myself why ripple is retarded?

[Anonymous No.14773244]

Banks love buying XRP from normies

[Anonymous No.14773277]

>>14773211
long nose tribe

[Anonymous No.14773285]

>>14773211
Because it doesn't offer anything new. It's like selling a slightly faster horse and a slightly more aerodynamic carriage to people once Henry Ford cars start getting on the lot. You have to be clinically retarded to invest in outdated technology, especially at this point in the 21st century.

[Anonymous No.14773299]

>>14773211
> Don't worry anon, 40% of our coins are held in (((escrow))), that means we won't dump them on you we promise.
> I wasn't dumping my XRP, I was just derisking.

[Anonymous No.14773306]

Ripple the company is trying to create an international bank settlement system. People mix that up with XRP. XRP is just a token and doesn't factor in to anything Ripple does. XRP used to pump when Ripple put out another Moneygram press release, but I don't think anyone cares anymore. Libra makes Ripple the company and XRP obsolete. Brainlets think that XRP will become the world reserve currency and hit 100+ Trillion USD market cap. Will not happen.
tl;dr XRP is the prototypical corporate shillcoin.

[Anonymous No.14773329]

>>14773211
They slowly release it as they see fit. They undersell the market by design to help banks profit off the holders. Ripple doesn't even have the tech of EOS, NEO, NANO but they're banking on being the next swift, unlikely swift lets it go down

[Anonymous No.14773343]

>>14773211
wtf you gonna do with it? Its a bank value transfer coin, there's no reason it should be scarce or worth more than the smallest denomination possible otherwise a bank will recreate it themselves. You think they're going to buy xrp with their bank balances? Especially when it keeps getting more expensive? It is an accounting nightmare and will never succeed, the biggest scam coin in crypto closely followed by bch.

[Anonymous No.14773371]

>>14773211
All of the promises that Ripple has made in 6 years, Chainlink has delivered in 2 years. The banking industry will NOT be using XRP. They will be using Chainlink.

Also, XRP is vulnerable to a 21% attack. That is not a typo. 21%.

[Anonymous No.14773458]

>asked about Ripple, especially in regards to threatening his job, he said there isn't a chance in hell that Ripple will become an international bank settlement layer because of 2 factors: it's just a glorified SMS service, international payment settlement and auditing involves some degree of government oversight and they are the slowest to adopt new technology, so even if banks are keen on moving forward with blockchain, governments don't want trillions of dollars worth of forex being settled using tech controlled by bankers.

>Look up CLS group and why it was invented. Banks will not be allowed to transact TRILLIONS of dollars internationally using tokens made by some third party start up. Banks and Government have a symbiotic relationship as each provides the other power, if banks use Ripple for forex settlement it will be sidestepping government oversight. It will never happen. Same problem with XLM btw, a third party blockchain will never be allowed for the movements of massive amounts of money internationally. Moving data on the other hand...

[Anonymous No.14773638]

>>14773211
It's centralized as fuck for one thing, for another its supply is horrendously large and arbitrarily changible to some degree, and it's just made for banks to quickly transfer and settle between eachother, it's not really that interesting or revolutionary and it wasn't 3 years ago either