I hear this A LOT from people, and I want to share my view on it.
First lets step 2 steps back…..
Breath for a minute or two, so we relax….
Now look at ALL the cryptocurrencies and projects one after another, and for each project/coin ask your self this:
– is this project for real or is just a money gram machine (nothing will be actually built they who made do coin will take the money and go live on an island drinking cocktails and have sex all day…. and after a couple of months get depressed 😀
– do we really NEED this coin/project?
– does this project actually need to be ON the blockchain (like for real man! 90% of projects don’t need blockchain)
Well after you answer all this question you will see there are really just a couple of GOOD projects that will stay and do their job (IF the devs manage to do what they have said in the white paper they are gonna do).
And if we look at XRP coin and Ripple.
First of all, we have to know the difference. There is a BIG difference between XRP and Ripple.
XRP is an opensource coin/project, anyone can use.
Ripple is a private company that uses XRP with THEIR (ripples) technology.
So Ripple made a technology (using XRP) so anyone can transfer money (FIAT = USD, EUR….) from one country to another country in seconds and you can transfer USD to EUR or ANY to ANY fiat currency and the transfer is done sending XRP. They call it “payment protocol”
Why is this important?
This is important because if BTC would be so fast and cheap, maybe Ripple would use BTC for their software that is made for the transfer of value (fiat)
BUT, because we all know BTC is a dinosaur (for now) they chose XRP.
Did they actually make XRP? Shure, they did because BTC was to slow 😀
So Ripple with XRP is really good for banks because banks job (one of them) is transferring the money from and to each other,
And this process cost them a lot because they need to hold a lot of money…
Don’t want to go into details but if you’re interested just go to youtube and there are tons of videos explaining this.
So whit XRP and Ripple and banks using them WE (the people) will gain a lot and that is the speed of transactions will increase drastically and banks will earn more money 😛
So why the hell do I then like XRP right?
Well, I am all for all decentralized and we don’t need banks and so…
Right now we all are living on FIAT (USD, EUR….) and we all (crypto fellas and gals) want to live on crypto right?
But this transition from fiat to crypto will take years, we cannot just switch from fiat to crypto in an instance, first there needs to be mass adoption then we will (maybe?) start to use crypto on daily basis.
And that is why I like XRP. It’s like a catalyst that will help to change the world, meaning if lots of banks start to use it, in the end, ALL banks will use it, or they will just be left behind.
Try to imagine that this really happens, this will be on all news, all media will cover it: Banks using crypto, banking sector into crypto and blockchain ect…
And that’s why I really like XRP and Ripple.
XRP is a good coin because its really fast and fees and ridiculous low.
Ripple the company? I love them, they are doing the hardest thing in the world. They try to convince people to use blockchain technology and not just random people but the people that work in BANKS! We all know they are dinosaurs 😀
Imagine you work in a bank. And your bank starts to use XRP for transactions, Of course, you would be interested what is this and so… you discover the crypto world and blockchain 😀 Wellcome! 😛
Now imagine you are an ordinary person who don’t own any crypto, but your bank just updated software you youse for banking and when you pay for something for the first time. Let’s say you were just in the store and saw a great new Sofa for your living room, you get the proposal go home, open the computer and pay for the sofa. And in same minute the phone starts to ring, you pick up and on the other side: hello Mr. X I see you just send us the money for your sofa we will ship it right away. And you go… wait what? Is this some kind of a joke? Your mind gets confused because the payment was so fast. And then you start to ask around friends what the hell is going on? And our friends have similar experience in the past few days. And then you all go and ask that strange friend who is talking for years about some new technology… you actually don’t remember what it was you just remember he is saying the world is changing and there’s some new radical technology that will change the world.
After you talk to this friend, he explains yes its XRP and Ripple and they use blockchain technology…. now you get curious 😀
So and this is why i think XRP is a good ice breaker for blockchain mass adoption.
Regarding is it bankster coin = YES and its a good thing 😀
But like i said it before, we need a smooth transition from FIAT to CRPTO and i think XRP and Ripple can be a goot catalyst.
But.. this is just my opinion i would love to hear what do you think?
Best regards from sLOVEnia
p.s.: regarding Ripples technology i didn’t want to go into details because it’s really not important for this discussion