Coinbase / GDAX continue to support more crypto-currencies in 2017

[Droopy]

Well what a great start of 2017!!   XRP may get listed on GDAX and Coinbase. Here is the blog post from Brian Armstrong. Coinbase is open for business for more coins to be listed in 2017.

Completing our transition to becoming a digital currency company (not just a Bitcoin company) Brian Armstrong.

Here is the rest of the story.  

https://blog.coinbase.com/completing-our-transition-to-becoming-a-digital-currency-company-not-just-a-bitcoin-company-6bcc44ca40ee#.1vhs796vl

[Droopy]

@Vinnie @rippledigital @kanaas@Dizer@JoelKatz@Haydentiff Well, what a great start of 2017! It looks like Coinbase and GDAX is open to add more currencies in 2017. WOW! I think Ripple should jump on this grand opportunity. Pass it on folks. 

Droopy

[ElMoskito]

Ripple Labs strategy does not concern end users anymore. Ripple Labs has pivoted in 2014 with a top down approach (FI and banks). What's the point of adding a new exchange for this really small community? IMHO it does not help at all.
 We need a clear strategy... not selling a few XRP to a couple of hundred fans.

 

 

[xrpaware]

 We need a clear strategy... not selling a few XRP to a couple of hundred fans.

17 minutes ago, ElMoskito said:

 We need a clear strategy... not selling a few XRP to a couple of hundred fans.

I agree there needs to be a clear strategy, but potential organic, word-of-mouth, walk-up sales is never a bad thing, especially if Ripple (the company) doesn't have to give anything away to get exposure from Coinbase. To quote (paraphrase) US senator Everett Dirkerson; who was the US Senate Minority leader for much of the 60's and 70's, -- he use to say about the federal budgeting process "Everybody says what's an extra Billion here, and a couple extra Billion there, or a few Billion more on this program, and few more on that program --- pretty soon we're talking about real money!" . Dirkerson was obviously referring to USD's --- but his quote seems tailor-made for XRP's. 

[Hodor]

24 minutes ago, ElMoskito said:

Ripple Labs strategy does not concern end users anymore.

???????

What does possibility of Coinbase listing XRP have to do with Ripple (the company)? 

You are right on spot about the Ripple marketing and business strategy, but that has nothing to do with consumer markets or growing consumer markets for XRP.  That is the sole responsibility of XRP enthusiasts (and XRP speculators like me).  I for one welcome this news, and hope that we can start to grow a consumer market for XRP usage.  I think XRP would make a viable alternative to Bitcoin in almost every way.  Oh, and XRP doesn't depend on environmentally-unfriendly, energy-sapping mining to run it's RCL blockchain. 

[kanaas]

30 minutes ago, ElMoskito said:

Ripple Labs strategy does not concern end users anymore. Ripple Labs has pivoted in 2014 with a top down approach (FI and banks). What's the point of adding a new exchange for this really small community? IMHO it does not help at all.
 We need a clear strategy... not selling a few XRP to a couple of hundred fans.

 

 

From what we can see from here, strategy @banks isn't working that well as far either. The fact that Vinnie was asking here our thoughts about XRP also was a weird one. I can understand Ripple being kept by a lot of NDA's but I do not understand why they should poll a community they do not see as a business opportunity. OK, Vinnie said it was not as employee, only as a person and XRP holder. But as the owner of XRP and being an insider he should know a lot more about the ways Ripple is heading and about the potential of his XRP stack - unless Ripple has discovered that they are on the wrong path and heading nowhere. When that's the case... well yes than you need some feedback about possible new ways perhaps.... and maybe a new XRP investment-strategist. BTW didn't they appointed Miguel lately for that job?

Edited January 3, 2017 by kanaas

[ElMoskito]

10 minutes ago, kanaas said:

From what we can see from here, strategy @banks isn't working that well as far either.

For sure... it seems it does not work well for now. But pivoting every 2 years would really suck. If XRP is for the community and also for banks, what's the message you sent? That's just a mess, an unclear message and you lose everyone again. IMHO we do not need gateways for consumers after the first pivot.

13 minutes ago, kanaas said:

From what we can see from here, strategy @banks isn't working that well as far either. The fact that Vinnie was asking here our thoughts about XRP also was a weird one. I can understand Ripple being kept by a lot of NDA's but I do not understand why they should poll a community they do not see as a business opportunity. OK, Vinnie said it was not as employee, only as a person and XRP holder. But as the owner of XRP and being an insider he should know a lot more about the ways Ripple is heading and about the potential of his XRP stack - unless Ripple has discovered that they are on the wrong path and heading nowhere.

Vinnie is a smart guy and he's far from being the naive guy of the other thread. When you are one of the first employee of Opencoin, when you have a lot of XRP, when you develop RCL where XRP is a key component since 3 years, you don't ask a such stupid question on the XRP strategy by asking to the community.

So I assume he had a goal by making this thread. We don't know the internals at Ripple Labs. Maybe it was a way to send some kind of message to some leader at Ripple Labs. I'm not sure we will know one day and I prefer not try to guess.

[Hodor]

1 hour ago, kanaas said:

strategy @banks isn't working that well as far either.

Source?

42 minutes ago, ElMoskito said:

But pivoting every 2 years would really suck. If XRP is for the community and also for banks, what's the message you sent? That's just a mess, an unclear message and you lose everyone again.

I'll repeat it again, this time a different way.  Stay with me here....

On the bitcoin blockchain, there are... 100+ companies?  Let's just agree that there are a LOT of companies that use bitcoins.  Many of them use bitcoins a lot of novel and different ways, along with the blockchain.  Does this result in confusion about using bitcoins as a store of value?  As a medium of settlement?  The answer is no.  People understand that you can use money in many differernt ways, and that different companies market in different ways.  Does this stop a new developer from creating something new?  From opening up a new gateway to purchasing or owning bitcoin?  No it does not.  And nobody with a decent shred of business understanding is confused by the fact that different companies and individuals use bitcoins in different ways, and that they market in different ways. 

Why are the rules different for XRP?  Why is it that people think that only Ripple (the company) can build an application that uses XRP and the RCL?  It's not the case - any of us can build something.  We need an independent XRP foundation so people stop confusing Ripple (the company) with a non-profit foundation. 

[Xi195]

4 hours ago, Hodor said:

People understand that you can use money in many differernt ways, and that different companies market in different ways. 

Agreed. For example Ripple has hinted at the opportunity to apply RCL to corporate disbursements, and we all know consumer payments could use an overhaul. Ripple is getting big enough to take on a second application or use case if you will. 

Also, I agree with @ElMoskito's insight regarding Vinnie's post. He doesn't need our insight. He knows XRP has a reputation as a premined scam. Who knows what his motives are, however I believe we can safely assume his intentions are good. 

On the subject of Coinbase potentially adding XRP as a currency, this would undoubtedly be good news. If you can't tell from all the proselytizing about fintech disrupters partners partnering with legacy FI's the fuutute is very much a future of collaboration. Imagine GDAX as an ILP liquidity provider. What services do you think Gatehub is selling (or trying to sell). Their goal is not to profit from our minuscule trading volume. If that's what their hope was on, I believe they would've closed shop long ago. Also, why is SBI starting their own exchange on top of investing in another? Exchanges are an important part, a liquidity hub if you will, for the IOV. Not to mention some extra volume would 100% good news since liquidity after all is the goal. 

Last thought. If the fact that nearly 100% of payments on RCL are made in XRP and ~95% of trades have XRP on one side does not give you a firm belief in XRP's future potential, you should maybe buy into a different coin. I'm with @Hodor (I think it was you) when I say I've never been more optimistic about the future of XRP. 

[thinlyspread]

I honestly don't think Coinbase adding XRP is going to make a damn bit of difference.

[Hodor]

7 hours ago, Xi195 said:

(I think it was you) when I say I've never been more optimistic about the future of XRP. 

Ha! Sounds like me....

[Hodor]

2 hours ago, rippledigital said:

damn bit of difference

You must not live in the US.  Having Coinbase add it would make it much easier for the entire US market to purchase XRP directly, since SnapSwap closed its doors here.  I'd say that qualifies as a "damn bit"....

[thinlyspread]

8 minutes ago, Hodor said:

You must not live in the US.  Having Coinbase add it would make it much easier for the entire US market to purchase XRP directly, since SnapSwap closed its doors here.  I'd say that qualifies as a "damn bit"....

Maybe. We'll see. I just don't think anyone'd buy it. Most people who are into crypto can deal with the (admittedly retarded) process of going through exchanges, gateways, etc because they're already in that space, are nerdy, etc. Joe Schmoe don't play no Coinbase, yo.

[xtrapower]

XRP hitting Coinbase is an illusion, at least in it's current state. There is simply no demand for it. XRP is not even in the top 10 volume wise anymore and we don't even have a wallet (!!!). We are a extremely small circle of supporters. Ripple does not lift a finger for consumer orientated adoption but i sometimes get the feeling that they still seem to expect it somehow.

I never expected consumers to pick up on XRP, imo Ripples approach can only work if they manage to generate institutional demand for it. Consumers will follow. 

[Hodor]

On 1/4/2017 at 0:59 PM, xtrapower said:

There is simply no demand for it. XRP is not even in the top 10 volume wise anymore and we don't even have a wallet

I agree wholeheartedly with the wallet comment (although I know some here have modded some code as a wallet, just not peer-reviewed by Ripple) 

But in terms of demand, it's a bit like chicken-and-the-egg.  For there to be demand, there has to be a means of expressing that demand, and right now, US users have to jump through some terrific hoops to get our XRP.  Having it on Coinbase would be great.