BitShares Forum
Main => General Discussion => Topic started by: emski on September 24, 2014, 02:11:14 pm
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http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/ (http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/)
Strong isn't it?
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Real big news, Ripple made it. This Fidor Bank sounds good, I only hear good things about them.
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It seems the Fidor-Ripple announcent on May 05 mentioned in article was good for a short term 20%+ gain. This announcement sounds better but I'm too lazy to look into it more/trade.
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yup fidor bank is very service and crypto oriented.
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Real big news, Ripple made it. This Fidor Bank sounds good, I only hear good things about them.
well，they've separated payment service(ripple protocol) from crypto(XRP),so it's easy to let the bank to use Ripple Protocol just like the banks use "okpay" "perfectmoney" "paypal" ...etc，it's a service base on centralized trust.
It's easy to use the Ripple Protocol news to pump the XRP.But their value is not the the same.
+5%
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Can someone ELI5 Ripple?
What does this do for the bank or it's customers?
Is it just a cheap way to move funds from A to B?
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Is it just a cheap way to move funds from A to B?
*confirmed*
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http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/ (http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/)
Strong isn't it?
That is why we need Ripple.
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Is it just a cheap way to move funds from A to B?
*confirmed*
Can someone ELI5 Ripple?
What does this do for the bank or it's customers?
Is it just a cheap way to move funds from A to B?
yes,move A to B,without expensive SWIFT network.
saving fee.
And can be regulated by the government.(KYC policy).
Much appreciated, thank you.
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http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/ (http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/)
Strong isn't it?
That is why we need Ripple.
The crypto community hates Ripple, though. Don't we get painted with the same brush if we do any deals with them? Is it that impossible to cover the same ground with these banks as they do?
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Ripple really frustrates me, because I think it is a solid idea, and I would like to buy some, but the founders kept the vast majority of the XRP for themselves. Used to be listed on coinmarketcap as 8.9 billion XRP supply. Then they released 20B more and the market cap magically triples. And they still have another 72B to go in the future. I'm just not going to buy in to this thing and wait to get dumped on in the future by the founders.
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http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/ (http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/)
Strong isn't it?
That is why we need Ripple.
The crypto community hates Ripple, though. Don't we get painted with the same brush if we do any deals with them? Is it that impossible to cover the same ground with these banks as they do?
I don't hate Ripple. I'm not guided by politics. I suggest the crypto community which irrationally hates Ripple conduct a SWOT analysis of all major technologies and see where Ripple stands.
As a technology Ripple is pretty good and it's value is high because it also has a high quality social network around the technology. Relationships matter and this includes who you hire, who your friends are, where they worked prior to being hired by you has a lot to do with this.
So Bitcoin for instance is connected to Google because it hired/adopted Mike Hearn. Litecoin is connected to Google because it hired/adopted Charlie Lee. Social network analysis can reveal why Ripple is socially valuable because social networks are commodities.
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Ripple really frustrates me, because I think it is a solid idea, and I would like to buy some, but the founders kept the vast majority of the XRP for themselves. Used to be listed on coinmarketcap as 8.9 billion XRP supply. Then they released 20B more and the market cap magically triples. And they still have another 72B to go in the future. I'm just not going to buy in to this thing and wait to get dumped on in the future by the founders.
The value of Ripple is not XRP. The value of Ripple is it's relationships with the banking industry and regulators. Ripple is a company which built up it's value on it's relationships and this deal and many others in the future will be the result of those relationships. Ripple is also the best technology as this time for integration into the traditional banking system so if you look at their long term strategy it is quite good while the technology is also fairly future proof compared to Bitcoin/Litecoin.
People get confused about Ripple because of XRP. XRP wasn't supposed to be part of Ripple in the beginning. Also people get confused because the tactic of Ripple is to integrate into the establishment while the desire of many Bitcoin/Litecoin rebels is to buck the establishment.
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The value of Ripple is not XRP. The value of Ripple is it's relationships with the banking industry and regulators. Ripple is a company which built up it's value on it's relationships and this deal and many others in the future will be the result of those relationships. Ripple is also the best technology as this time for integration into the traditional banking system so if you look at their long term strategy it is quite good while the technology is also fairly future proof compared to Bitcoin/Litecoin.
People get confused about Ripple because of XRP. XRP wasn't supposed to be part of Ripple in the beginning. Also people get confused because the tactic of Ripple is to integrate into the establishment while the desire of many Bitcoin/Litecoin rebels is to buck the establishment.
Which basically means that there isn't any way for any of us to get in on it. Which frustrates my attempts to hedge into any crypto 2.0 coin that might have the potential to 'win'.
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http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/ (http://www.coindesk.com/us-banks-announce-ripple-protocol-integration/)
Strong isn't it?
That is why we need Ripple.
The crypto community hates Ripple, though. Don't we get painted with the same brush if we do any deals with them? Is it that impossible to cover the same ground with these banks as they do?
why not partner with stellar then? they got the same tech and a better roadmap going forward dev-wise imo.
https://github.com/stellar/stellard/blob/master/Roadmap.md
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I think Ripple is amazing and because of that I bought last year some very expensive XRPs and sold them this year for some BTSX
I still believe that Ripple is amazing but now I understand that even all the banks in the world use it that doesn't mean that XRP as it's internal coin will get any value. People will move around usd, cny, eur,gbp through ripple without ever having to keep XRPs more than minutes.
My concern though is that if all banks use XRP, this will be a threat to BTSX. The only difference will be that XRP will be centralized, BTSX decentralised. But if money are moving through XRP easily around the world this may overtake all cryptos. Why having bitcoins? XRP maybe worth $0.0001 and no one can ever compete with so cheap transfers.
Do you agree that no matter how many deals ripple does with banks, XRP's value won't be affected positively but rather negatively (big shareholders selling massively their shares to banks at lower and lower prices?)
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the people behind stellar in case you're wondering: https://www.stellar.org/about/
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My comments apply also to Stellar. They are both amazing but there is no reason why their value increases, other than pure speculation.
Their sole purpose is to be the intermediaries between consumer and gateways.
It is like if someone sells a very nice banking software. Nothing more..
By the way if BTSX can collaborate with any of them and create gateways and IOUs it would be great!
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My comments apply also to Stellar. They are both amazing but there is no reason why their value increases, other than pure speculation.
Their sole purpose is to be the intermediaries between consumer and gateways.
It is like if someone sells a very nice banking software. Nothing more..
By the way if BTSX can collaborate with any of them and create gateways and IOUs it would be great!
Bitshares only needs their social network, not the technology. Ripple has the more valuable social network and therefore is more valuable than Stellar. Relationships will produce deals and Ripple has relationships.
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the people behind stellar in case you're wondering: https://www.stellar.org/about/
and *lucky331's* real names is which of those on the page?
Just curious, hope you do not find the question offensive/intrusive...
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the people behind stellar in case you're wondering: https://www.stellar.org/about/
and *lucky331's* real names is which of those on the page?
Just curious, hope you do not find the question offensive/intrusive...
none taken.
not part of the team lol. i just posted it just in case some people are wondering who's behind the project.
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Can someone please explain me why ripple as a currency XRP will ever get appreciated, since if all the banks are using it no one will ever keep XRP as investment but rather as a mean of transfer the currencies they want?
I may have got this wrong so would like to proved wrong
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Can someone please explain me why ripple as a currency XRP will ever get appreciated, since if all the banks are using it no one will ever keep XRP as investment but rather as a mean of transfer the currencies they want?
I may have got this wrong so would like to proved wrong
Their fees which are destroyed are negligible. They say on their Wiki they expect 1000x more XRP to be effectively destroyed by people losing their passwords. So there's really no business model on the fee side. https://wiki.ripple.com/Ripple_credits
Also there's no incentive for the people to hold XRP other than in the short period it takes to make a transaction. So no business model there either.
However if the volume/turnover gets really high I guess some XRP will end up getting tied up at various points which could reduce supply. Speculators could also take a lot out of circulation driving up the price of XRP in circulation maybe?
Either way I never bought XRP, didn't like that it seemed centralised, bad business model and despite what CMC says I still think there's like a 1000% inflation to come. Though I did think it could be good for a short term 20%+ trade as I said earlier in the thread on this news. Only up 7% so far though.