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How will a global market crash/recession affect Ripplenet adoption?

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Something I've been mulling over for the last few days given the volatile American markets at the moment. I'm wondering whether a market crash would negatively impact on the global adoption of Ripplenet by banks. My suspicion is that it would as banks would have their hands full trying to stay afloat; major changes to their day-to-day running are likely to be put on hold until things stabilised. What do you think and why?

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Agreed.  Gold and Silver dumped with the 2008 crash as well at least for the first 3-4 months, then rallied.  Crypto market valuations will dump further and faster since there is no value or real utility in effect (yet) with these assets.   I think it will happen that a several of these assets become kings in this space - but adoption is key for that to actually happen.  The XRP ecosystem is heading that direction I think.

As they say, keep your powder dry.

 

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Pressure and need for innovation will be even stronger in a downturn environment with assets losing value.

A downturn could be a catalyst to open more doors for Ripple and XRP applications.

Because first and foremost they're about efficiency and saving money.

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5 minutes ago, panmores said:

Pressure and need for innovation will be even stronger in a downturn environment with assets losing value.

A downturn could be a catalyst to open more doors for Ripple and XRP applications.

Because first and foremost they're about efficiency and saving money.

^ This

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Don’t really know but agree that it might help push adoption via money saving.......and when money is tight people tend to be more willing to look or learn of news ways of transferring it. To save a buck...

Edited by Vvittin

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8 minutes ago, Vvittin said:

Don’t really know but agree that it might help push adoption via money saving.......and when money is tight people tend to be more willing to look or learn of news ways of transferring it. To save a buck...

I agree. When huge dump will happen, banks will be forced to optimize costs of operations. Here is RippleNet the first one to enter. XRapid will be implemented even faster. ?

We just heave to be patient. 

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41 minutes ago, panmores said:

Pressure and need for innovation will be even stronger in a downturn environment with assets losing value.

A downturn could be a catalyst to open more doors for Ripple and XRP applications.

Because first and foremost they're about efficiency and saving money.

I thought that myself, but I guess it will be a second-order effect. Cryptos will plummet along with stocks. Then those with cost-saving use cases will rise again, but there will be considerable lag.

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1 minute ago, PunishmentOfLuxury said:

but there will be considerable lag

This is what I think. Agreed it may help adoption in the long run however, in a more short term view I think there could be a setback in terms of the adoption rate. Presumably there is a reasonably significant capital outlay to get up and running on Ripplenet and I can't see banks signing off expenditure like that if the markets are in disarray.

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I think XRP and BTC are the only cryptos that could be bullish during a recession, more so XRP. The reality is none of us know, so if one of these kids try to sound smart like they work for some  big central bank or know how the world runs, tell them to Shut the front door up

Edited by AlibabaGrp

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2 minutes ago, AlibabaGrp said:

I think XRP and BTC are the only cryptos that could be bullish during a recession, more so XRP

Based on what, speculation or utility? Obviously, I know the answer for BTC, that goes without saying...

Edited by T8Bacon3

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16 minutes ago, AlibabaGrp said:

I think XRP and BTC are the only cryptos that could be bullish during a recession, more so XRP. The reality is none of us know, so if one of these kids try to sound smart like they work for some  big central bank or know how the world runs, tell them to Shut the front door up

:) You’re right, no one knows for sure. But in general, people will want to avoid keeping assets within the banking system due to Lehman Bros-esque systemic risk. They will typically want to move to safe havens such as gold or silver, or USD bonds. 

This could be the crypto market’s time of reckoning in some ways. Will people see it as a potential safe haven outside of the banking system? Gut feeling is that once the risk-off trades cool down, BTC could benefit from this because people frequently compare it to gold. I don’t see an obvious way that XRP would benefit directly - indeed it may be seen as a dangerous asset to hold precisely because Ripple swims in the same waters as the legacy banking system.

On the other hand, it may be that BTC will lift the whole crypto market.

Edited by JA8

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