XRP

I understand that this coin is centralized garbage, however when it comes down to it normies don't care about centralization and XRP has a some things going for it that may increase it's price. For example It has yet to be listed on Coinbase or robinhood crypto. If you take a look at doge and ETC, Whenever they got listed on Robinhood they increased a nice amount. Normies also like how cheap it is so I imagine it will be very popular with them in the future. Now I'm no XRP shill but this seems like an easy way to make some money, I would love to hear why this wouldn't be a good short term hold.

Attached: XRP.png (178x178, 6K)

Other urls found in this thread:

fincen.gov/sites/default/files/shared/Appendix_D.pdf
lmfgtfy.com/?q=xrp network transaction volume
blog.bitmex.com/the-ripple-story/
minivalist.cinn.app/
twitter.com/AnonBabble

It make sense, i will use my gains on this to buy btc tho

$140 eoy

what makes it centralized garbage?

The fact that it's centralized. Typeiclly that's not a good thing but thanks to its centralization XRP has fast transactions and a high TPS.

Normies look at the price and see how "cheap it is."
I've had family members tell me this can go to Bitcoin prices.
If crypto doesn't take a shit in the next 3 years, I see this easily going to $10 from mere normie mentality.

>Normies look at the price and see how "cheap it is."
>I've had family members tell me this can go to Bitcoin prices.

Do people like this actually exist? You sure they weren't just trolling? How is it even possible to be that stupid?

You should be more interested in the xrapid trials and sbi, thats why this is still #3 with 100 million plus in volume a day. Not cause its "cheap"

people still calling this centralised...

do some research

it's already less centralised than bitcoin and will be even more so soon

He's right people like this exist. When DOGE became tradeable on Robinhood people in the chat were talking about how it was going to crazy prices like a dollar for example. Hell I was talking to my grandpa today about stocks and he loves penny stocks for some reason. Humans just find cheap things appealing. Also most people don't understand you can buy less than one coin so they think it's impossible to buy one bitcoin but 50 XRP is doable.

Im sure it has good usecases too but it being cheap has a psychological influence.

Do you have any proof that I can look at, I always thought it was centralised

they dont understand maths or economics

Can you be more specific? The operation of the ledger itself seems decentralized to me.

Theres plenty of cheap shit in this market, none of them have this much volume a day, especially when the bubble has popped and supposebly everything must drop to zero now cause some boomer said so

The fact that Jow Forums has collectively opposed XRP, even before the December bull run, says all you need to know. ALWAYS do the opposite of what Jow Forums does or claims to do.

Im not saying ripple is useless you nigger I'm just saying that normies love things that are cheap

Have you even done any reading on xrp??? You do realise the token has literally nothing to do with ripple and the system they are preparing for “banks”. It’s all just a massive shill, making people think they’re buying into something which is actually nothing.
Jesus please read up about it, for your own sake.

5. Is the XRP Ledger centralized?
This is a top misconception with the XRP Ledger. Centralization implies that a single entity controls the Ledger. While Ripple contributes to the open-source code of the XRP Ledger, we don’t own, control, or administer the XRP Ledger. The XRP Ledger is decentralized. If Ripple ceased to exist, the XRP Ledger would continue to exist.

Ripple has an interest in supporting the XRP Ledger for several reasons, including contributing to the longer-term strategy to encourage the use of XRP as a liquidity tool for financial institutions. Decentralization of the XRP Ledger is an ongoing process that started right at its inception. In May 2017, we publicly shared our decentralization strategy.

First, we announced plans to continue to diversify validators on the XRP Ledger, which we expanded to 55 validator nodes in July 2017. We also shared plans to add attested validators to Unique Node Lists (UNLs), and announced over the course of 2017 and 2018, for every two attested third-party validating nodes that meet the objective criteria mentioned above, we will remove one validating node operated by Ripple, until no entity operates a majority of trusted nodes on the XRP Ledger.

We believe these efforts will increase the XRP Ledger’s enterprise-grade resiliency and robustness, leading to XRP’s continued adoption as the best digital asset for payments.

DIRECTLY FROM RIPPLE'S WEBSITE... NOT HARD TO FIND

Bullshit...

Adoption will drive volume which will increase price.

Don't invest and stay poor

XRP is still their priority. They are building Ripplenet because a modern payment system is needed before XRP can be positioned as the settlement asset. Imagine trying to create Twitter or Facebook before the internet existed. Ripple is doing the dirty work because Swift is too retarded to fix their shit after 40 years.

for this reason XRP will never be adopted. poor countries / poor people will never afford adoption.

I don't really understand what you mean by this, that 20 XRP comes out of the users pocket

>What is the problem with this
nothing, move along

Attached: absolute_state_of_xrp_baghodlers.jpg (320x320, 11K)

have you ever tried to use a XRP wallet before? LUL this is a given. people shill XRP w/o ever taking it off an exchange.

Attached: haters17.jpg (500x374, 47K)

It mean you buy 20xrp and you get 0

This is a good point, at current prices pajeet literally does not have the money to buy 20 whole XRP

Yeah but the 20 XRP was worth like 5 fucking cents so I literally did not even think about it until just now

Attached: Capture.jpg (669x469, 35K)

They hold 61% of the supply with 88% of that locked in escrow.

Right now there are 21 validators on Ripple's recommended list with 12 of those run by Ripple themselves. It takes 80% support to enable an amendment, so it would require the support of at least 5 non-Ripple validators to update the protocol.

>literally talking about the only thing in crypto that will be around in 10 years
>have to dress up your post and make clear how much you hate Ripple so you don’t get jumped by neckbeards because muh sen-trawl-eyes-ayy-shun
Crypto is a fucking joke, both the current state of it, and the communities that invest in it.

Who holds the other 39%?
Oh and I chuckled at the "they took 88% of that 61% and just put it in another wallet that we promised no one will touch"

This is why you avoid Poloniex. It's completely unnecessary for them to make every user activate a new wallet with the 20 XRP minimum. It would be easy for them to use destination tags like other competent exchanges, but they prefer to screw everyone instead.

>jumping to a conclusion
>expecting to be sponfeed
do your research, we are not giving you free money

>I've done some research...
>What was suppose to be it's main purpose?
So you did no research then?

I'll simplify as best I can how XRP is used by RIPPLE the company. YOU personally can use XRP for whatever the fuck you want. Market making, settlement currency on an exchange, transferring funds between exchanges.

Ripple the company uses it as a utility token for one piece of remittance software they developed: xRapid. xRapid's aim is to facilitate the cross-border, international transmittance of money in minutes and at the cost of pennies. How does xRapid specifically do this and why does it need XRP? I'll use a simple scenario as an example

Client A in the USA wants to send 1 million USD to Client B in Nigeria. On the xRapid system it goes a bit like this:
- Both clients are using the xRapid system
- xRapid sources the equivalent of $1MM USD in XRP from an exchange. The price of XRP at this point is irrelevant. It's $1MM worth of XRP, not 1MM XRP
- xRapid transfers that XRP over to Nigeria and sells it on an exchange there for $1MM USD
- NOTE* This part of the process takes 3-4 seconds. Not minutes, or hours, 3-4 seconds.
- xRapid then settles then $1MM USD in the client accounts

So this whole process takes 2-3 minutes, the XRP leg of the transaction takes only a few seconds.
The expectation of a rise in XRP prices over the next few years DOES NOT stem from the belief that financial institutions are going to personally buy XRP and hold it to physically send it round themselves. It's imperative people begin to understand this key fact.

The increased price of XRP will be a natural result of the increase in VOLUME and DEMAND for XRP on the open market as xRapid is adopted. It is a natural market function that as the demand for a fixed supply or something increases so does it's price. And that is what RIPPLE the company is doing now. They're establishing clients for xRapid, payment rails and sources of liquidity that xRapid can use when in full use

>free money
lmao, I rather not get dumped on by Ripple CEOs because of a failed ICO.
No thanks

100% wrong. You also don't understand how XRP is used.

Users, exchanges, etc.

You don't have to trust them on the XRP in escrow. They don't have a way to release it early. The code enforcing this is open source and run by over 800 nodes.

>not knowing about cryptographic escrows
>not knowing about supply distribution
>not knowing anything about xrp's tech
>expecting Jow Forums to explain cryptocurrencies from 0
you probably barely know about how to create a wallet

Just a quick question, do you have a constant stream of spit rolling over your bottom lip, you know what I mean, like you’re constantly dribbling?

Attached: your sources.jpg (900x728, 95K)

I saved this from earlier in the year to help some of the brainlets who don't understand the relationship between volume, liquidity, market cap and how it affects a bridge currency like xRapid. Also helps to dismiss the market cap fallacy in cyrpto.

If xRapid starts to tap into the international remittance market, a multi-trillion dollar a day market...

Attached: RIP mc.png (1472x299, 83K)

Any Idea how much moenyhow much money is sent internationally per day?

>I've done some research
>spoon fed me

trillions and trillions and trillions

multiple trillions per day

I said some in relation to XRP not having a particular use case besides liquidity. I've also tried looking up "how much money is sent internationally per day?" and all I found was articles about Mexicans.

fincen.gov/sites/default/files/shared/Appendix_D.pdf

lmfgtfy.com/?q=xrp network transaction volume

The Bill Clinton thing really makes me think they are planning to make this the world reserve currency after the upcoming dollar collapse

Do yourself a favor and stop thinking.

Bill Clinton is a whore who will speak at anything for enough money.

Thanks, just bought 100k treasuries

it's the activation fee for a wallet. You only need to pay that once if you reuse the same wallet.

XRP works fine in a currency conversion role, but it will never moon to 50$ or whatever cause the supply is just too large and the company owns most of it and who knows when they are going to dump all of it.

#1 coin EOY

Attached: 1514557459754.jpg (1488x996, 228K)

Question, how is XRP able to have 3 second transactions 1500+ TPS and low fees while claiming to be decentralized?

The nodes are run by professional organizations, not rice niggers in tin sheds in the mountain side of butt-fuck china and it's not PoW.

So the people who run XRP give out nodes to professional organizations and not rice niggers so over time the system will become decentralized while also remaining fast. That seems decentralized enough to where it would make a secure network IMO.

Exactly. The idea is that Ripple will no longer run any nodes at all. When nodes get added to the network, Ripple deactivate theirs. Right now active nodes are run by the likes of Microsoft, MIT, CGI, Worldlink and various ISPs around the world (Japan, Sweden, Australia etc).

While PoW becomes increasingly centralized like BTC and Bcash are, XRP goes the other direction.

Rice niggers. I like that.

Coinbase Custody looking to add these:

Attached: 1_VaTC1Mk5Lx7tdYW-Nv5k7Q.png (1550x1000, 263K)

The thing you guys don’t understand about business is the political aspect. Ripple is a direct competitor to SWIFT. Now 11k banks currently trust SWIFT, Ripple needs to get these banks to start trusting their system and to adopt this crazy new software company. Which by itself is a miracle. This would take many, many years for all banks to adopt this system. Or use SWIFT’s upgraded platform. Trusted company like SWIFT vs a >5 year old company.
Let’s look at the opposite scenario. XRapid is the new thing, looks amazing, seems awesome. SWIFT forces a 10 year contract on banks to immediately use them or have funds completely shut down the SWIFT messaging system on the next business day. This would then give SWIFT the opportunity to buy out Ripple.
This isn’t selling the new “iPhone”. This is shaping a new financial system. Ripple is too new for any established bank to use it. Third world is a better shot, but third world banks would have to rely on first worlds to use xRapid. Again, it’s not happening. It is possible that Swift reimplements a Ripple like solution, but using XRP, forget it. Might as well digitize currency.

theres only 21 validating nodes that actually matter, the rest are just observing the network and would simply split off to their own hardfork if they disagree with 80% of validators.
out of those 21 nodes, ripple controls 14 (iirc). but this is deceptive, since ripple (the company) is actually the only one with the write access to ripple (the currency) github rep, and the trusted validators are basically hard-codded into the software, i.e. ripple chooses whos allowed to be validators (permissioned network). its theoretically possible to change your own list of trusted validators, but nobody actually does this.
so ripple can just change the trusted validator list anytime they want, make themselves control all 21 nodes and just release their "escrowed" funds (its not really an escrow if youre the one holding the funds).
btw, did they find the thousands of missing blocks in their "blockchain" or is the network still blindly trusting ripple with what happened between them?

>SWIFT forces a 10 year contract on banks to immediately use them or have funds completely shut down the SWIFT messaging system on the next business day.
you should stop watching movies. this isnt possible and would never happen. even if swift would try doing anything remotely similar, it would only push all of the banks to another system (for example the shit ripple is offering) basically over night.

I believe that in this picture is missing stellar. which is very similar to xrp apart that they bump the coins in existence by 2% every year or something like that

>SWIFT forces a 10 year contract on banks to immediately use them or have funds completely shut down the SWIFT messaging system on the next business day.
What the fuck are you even talking about. You think SWIFT will give ultimatums to the most power financial institutions in the world? That's not just stupid, it's suicide.

>Ripple is too new for any established bank to use it.
SBI group already are and Ripple is already 7 years ahead of swift in this regard.

Evidently you don't really understand what you're talking about and pulled some hyperbolic shit right out of your ass here.
> SWIFT forces a 10 year contract on banks to immediately use them or have funds completely shut down t
Dumbest thing posted on this board this year. Good effort.

it will only take 1 or two major banks to start using xrapid and start saving crazy amount of money and the rest will follow. its the domino effect

blog.bitmex.com/the-ripple-story/

I have the same thoughts OP. Also consider bagging up all the hyped coins that had the strongest fanbase during this bear market. Whether you like them or hate them it doesn't matter, they're the ones which will be pumped hard next alt season and you don't even need any insider knowledge to know. It's basic common sense and you most definitely hate money if you aren't buying them soon. XRP, BCH & EOS are the obvious ones...

yep you don't hold any XRP probably because you were negatively influenced by FUD
(yes in the old days BTC fags paid for XRP/Ripple fud)

DYOR or stay poor

CEO promised xRapid in production in banks by EOY.

you know with all the developments and partnerships of Ripple one can say that they are seriously working on to their vision. I'm certain that the price will further go up in the future because of this. One of the guys from Ripple labs, Ryan Terriblini is a CoFounder of a blockchain-based commercial bank in Taiwan - they might team up soon, perhaps.

XRP is centralized garbage, will dump to nothing when it is labelled a security by SEC. There is a large amount of evidence for this. First of all, it is described in entirety by the Howey Test:
1 It is an investment of money (yes)
2 There is an expectation of profits (yes)
3 The investment is in a common enterprise (yes, XRP is distributed by Ripple and Ripple only, Ripple uses profits from the sale of their magic money to improve Ripple)
4 Any profit comes from the efforts of a promoter or third party (Yes, XRP is advertised by Ripple and as previously stated is centrally controlled by it)
I would suggest reading Coffey vs Ripple Labs for more info (Also the SEC chairman stated that they won't be changing the definition of a security), but another nice piece of evidence is there: THREE lawsuits against them claiming XRP to be a security. None have been thrown out of court even after 6+ months.
Third piece of evidence is the chairman of SEC stating that crypto such as bitcoin and ether (sufficiently decentralized) aren't securities, but some ICOs are. Funny how they omitted the third largest 'crypto' XRP. When this gets labelled a security and dumps to fucking nothing I will have no empathy for you dumb cunts that can't see this because you deserve to lose your money.

stop spreading bullshit info, got eny proof for muh centralized fud?

Ripple controls only 58% of validators, you need 80% to control anything.

There are thousands of validators now.

It was declared a currency therefore can't be a security.

There are numerous articles explaining why XRP is not a security.

These XRP fags think there is NO possibility of XRP being a security. As in zero...The issue is 'of sole benefit' Ripple has 'sole benefit' as all the tokens realised come through them.
Hearing for one of the case starts tomorrow. So we wont have to much longer.
>It was declared a currency therefore can't be a security.
Using expired documents as evidence

Retard, by your definition of a security, a 10 years-old girl selling lemonade drinks in front of her house would be illegally selling securities, holy shit how stupid can one human being be

>eny proof for much centralized fud
Of course I have evidence for XRP centralization. Read BitMex's 'The Ripple Story'
"The node operated by downloading a list of five public keys from the server v1.ripple.com, as the screenshot below shows. All five keys are assigned to Ripple.com. The software indicates that four of the five keys are required to support a proposal in order for it to be accepted. Since the keys were all downloaded from the Ripple.com server, Ripple is essentially in complete control of moving the ledger forward, so one could say that the system is centralised."
So there is irrefutable evidence of it being centralized as the servers NEED public keys off Ripple servers to run.
>Ripple controls only 58% of validators, you need 80% to control anything.
I never mentioned validators, I don't know why you did. It's completely irrelevant.
>Declared a currency therefore not a security
FinCEN declared XRP a currency way before the security debate began. That makes the distinction of XRP as currency over security invalid as whether or not it was a security or not was never likely considered. All articles that you read on your reddit circlejerk that say 'XRP declared currency by FinCEN' are actually referring to a fine Ripple paid back in 2015 in which FinCEN loosely stated 'Ripple may continue the sale of its XRP currency'. Not very relevant.
>There are numerous articles...
It's fucking ridiculous how in the same post you said 'much centralized fud' and 'numerous articles explaining'. I'm sure your articles are correct and mine FUD right? Doublethink and delusion.
I'm not sure if I should humor this because it sounds so stupid it has to be bait.

>FinCEN declared XRP
user, that FinCEN doc expired this year...Any one using that a 100% fact can't use a calendar. I do agree with the assessment of lack of knowledge on behalf of the FinCEN...

All nodes are validating all transactions. They will not accept invalid transactions (such as releasing funds from escrow early) even if all 21 validators on Ripple's recommended list attempt to do this. In that case, it is actually Ripple (who controls 12) and the other of the 21 validators who would fork themselves off the network. It would require manual intervention from the other nodes to change their UNL to remove the malicious validators. But once they did, they could continue on as usual. Of course, this is all hypothetical because Ripple would never attempt this in a million years.

Yes, Ripple controls their own github repo, but anyone is free to copy it and make any change they want. Anyone is also free to propose amendments to the network that will be voted on. BTW, despite having many contributors, only 28 people are processing pull requests right now for Bitcoin.

Almost no one changes the default UNL because it's not necessary. What benefit is there to doing so? If we all want to transact with each other, we should want as much overlap as possible on our UNL's. The purpose of changing is to deal with malicious or poor performing validators. It is not permissioned just because the default and recommended list is working perfectly well. Users can stop listening to Ripple whenever they want. Ripple has no actual authority.

The missing ledger headers are irrelevant. All history is known from the moment XRP was released to the public. What exactly do you think happened in the missing ledgers? It had not been released yet, so the creators were free to do anything they wanted. And keeping history is not necessary since each ledger contains a full set of accounts and balances.

I am worried about the state of the market after XRP drops to nothing. Would non-ico blockchains take the lead? Would the entire market collapse after billions are lost and it is shilled by the media as being a evidence of crypto being a shit investment? Everything seems risky at the moment.
Still doesn't change the fact that anybody who invests in XRP aka Ripple Ltd are mongoloids, it's just basic risk vs reward.

This article is poorly researched and incredibly misleading.

Thanks I guess I'll just take your word for it. You seem like an unbaised source of information. Enjoying this weeks dump?

This is inaccurate and outdated. Validators are needed to order transactions. They can never have "complete control of the ledger moving forward". See below if you want the current state of Ripple's recommended validator list. It no longer consists of the 5 you are referring to.

minivalist.cinn.app/

I went to the website and it says 57% ripple dominance lmao.

>just basic risk vs reward.
It seams crazy to hodl a coin that has the potential to drop like crazy if the case goes south. They are literally holding on to risk, the price is not going to rise until the case(s) have a resolution. they should just buy back in if ripple win ffs...
How can you take someone seriously that doesn't even take basic shit like that into consideration. The XRP hodler is the most arrogant about their own ignorance in all of crypto ATM..
Best of luck user, fudding this coin is one of my hobbies.

Good luck to you too mate

That number will continue to drop throughout the year. Even when it was 100% dominance, Ripple did not have the ability to double spend. The worst they could do was cause a temporary outage, which is directly against their economic interest.

Is Pajeet really that poor? XRP is only worth like 40 cents!

Yeah, It's against their interest kinda like how it's against any companys interest for their securities to lose price as investors will no longer have incentive to buy their securities. It's actually amazing how you can just prove my point like that!
Also, when it was at 100% Ripple froze some poor cunts account.

You don't believe in economic incentives? PoW breaks down without it. That's what is supposed to keep miners in line.

Ripple didn't freeze anyone's account. Bitstamp froze a USD obligation that they issued because there was a legal dispute about its ownership. Only IOU's can be frozen and only by their issuer. XRP is the native asset on the ledger and has no counterparty, so it can't be frozen.

Bitmex Research into the trash it goes.

Attached: bitmex.png (598x347, 50K)

Not sure when I said I didn't believe in economic incentives. My post just states that it is ironic that you support Ripple's never ending ICO model (btw, almost all Ripple's revenue comes from here) but claim it not to be a security.
So Ripple didn't freeze any account, but someone else did instead?
Ripple holder into the trash it goes.

True, but Ripple has been built to be the blockchain solutions company for large international financial institutions and enterprise. XRP is literally just a tool for them to transfer money, it is not a store of value. Poor countries and people are not part of the equation here.