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lerryberry

Who / How did you first find out about Ripple?

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I remember getting to work one day, the lead developer at my work knew I was into Ethereum pretty heavily, and had been doing well off it (it was early 2017).

He started to tell me all about XRP, his excitement really sparked my interested, after looking into it I got that same "Wow" feeling that I initially had from Bitcoin, then again from Ethereum when I first found out about them.

Any other stories? It's interesting to know.. My hypothesis is it's mostly from people you trust.

 

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I had heard of bitcoin. I had heard of ethereum. I wanted to look into what projects were out there, what goal existed for each project, and who was working on the projects. I came across xrp. When I saw that it wasn't POW and digested the whole energy consumption/waste, plus it had a viable company that had been around for more than five years run by individuals with experience it was a no brainer.

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Id use bitcoin to actually pay for things previously, never even thought about it as an investment (how annoying looking back on it now)... early 2017 i noticed the gains id had in the little amount of bitcoin id been using and thought hmm lets look into this more and what else is out there...

given ive worked in banking systems for as long as i dont want to admit to. Granted only recently got more into the payments side and more fin crime than anything else. But at the time i was used to sending money abroad and felt the pain. Saw what ripple was trying to do, and thought well, that makes sense. Why cant money flow like data at teh end of the day most things are stored electronically. Sort out security, regulations and all that malarkey and it just was like yeah, that's where i wanna put some money.

At the end of teh day. I just see it as a win for banks. Should make things less complicated, should reduce costs (which they dont necessaryily have to pass all the savings on thus increasing cost/earnings jaws so so speak), be faster, and quite importantly a better customer experience. And given the fact they've been engaging regulators, i thought well, this has to be a gamble but an educated gamble I say.

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I've told this story before, but it's fun to retell it. 

Believe it or not, some public tv stations were talking about Bitcoin way back in late 2013, early 2014.  My stepdad who never calls me to ask me questions, happened to call me one day and told me he saw a reporter talking about Bitcoin and the reporter explained what Bitcoin was and my step dad didn't get it, so he called to to ask me to look into it, so I could explain it to him - it's the first time he's ever done this in his life.  Lucky me that he didn't understand it; otherwise he would have never brought it up, and I would have likely not have ever bothered to learn about it until much later.  Anyway, I looked into BTC, respected the technology, but didn't see it as a legitimate use case to actually displace fiat by mass adoption, but then luckily I discovered coinmarketcap.com, and that there were other cryptos, and after 3 weeks of straight research, the only crypto I saw worth anything was ripple (XRP).   

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I had heard of bitcoin, as well as blockchain, but I read something somewhere that said 'if you really want to know how good a project (coin) is then google the question "what problem is <name_a_coin_project> trying to solve?" 

When I did, Bitcoin had it's standard anarchistic custody concept (which I still love, but it's unrealistic), Ethereum had smart contracts which can potentially affect the real estate markets in a positive way, and then there was XRP.  The coin itself isn't terribly striking, but the potential behind it went beyond my imagination.

I could imagine a world with bitcoin as a store of value, except it didn't have the TPS, or the compute power, or the security to scale globally, Even with the lightning network.  plus, we still have to depend on standard pro-sumers, and in truth it would end up corporations, to throw gobs of money at compute power to run the infrastructure. highly unlikely (IMO). The only problem solved was people taking back custody of their money, which no government or bank will allow in any lifetime.. even if it was truly agnostic, secure, and dependable. 

Ethereum expedited real estate contracts, and other long drawn out contractual deals (maybe even corporate mergers). This was a positive, because your turning months into days, which is fantastic, and if Ethereum has some more TPS, it's doable in that niche, so it had more potential (IMHO), but it still depends on pro-sumer/private compute power, so it would naturally end. The incentives simply aren't there for the average person (globally. I know american's believe that everyone has the same money they do to spend on this kind of thing, but they do not, and belief is not required for that to be the truth) to spend the money on the hardware and power.

Eth is a great token, and never to be underestimated. I simply don't believe that banks or  governments will allow this type of thing in an open market. Humans are too selfish, and be it that they believe money is power, it's inevitable before the system is corrupt, or it fails in light of another more malleable system. 

XRP (and the set of ripple products) had the potential to reshape how money flows globally, as well as open up the locked doors on Trillions from banks locked in nostro/vostro accounts, potentially creating a world of new opportunities. Their hardware was paid for by corporate entities that believed in the product, and a few tech savvy fan boys, which is more than enough to get their technology off the ground. Be it that they are partnered with lots of central banks, that is a great sign of adoption, granted it's not US money, but Asia ain't to shabby, especially when you look at how many countries there are. Also, the fact that XRP acts as a 'wildcard' token between currencies, and reduces time to value to seconds from days, and has plenty of TPS to start with, and is suitable for global scaling. It has potential. It exists within the current power structure (banks), which means there likely will be a level of control at some point. 

Then, with the paired with addition of Codius, someone could create a global exchange, with all sorts of financial instruments, as well as derivatives to completely revamp the investment world, and settle in seconds TO ANY CURRENCY IN THE WORLD. This.... is a game changer for financial institutions. I know because I've seen it with my own eyes. The pain of trading globally with fiat currencies in multiple accounts is hidden to the people who aren't institutional investors. When those people can trade any exchange in the world, with a single currency (be it XRP / Stellar / or whatever other currency that has yet to be created) the world itself will be unrecognizable to the people living today.  

Now that, is solving a damn problem! creating liquidity, and adding Trillions (if not Quadrillions) of dollars to a global economy is nothing but healthy for it. Making speedy and efficient cross border payments in any denomination is also healthy for the lei person, as well as corporate and government entities alike. 

That's when I realized I had hit the limits of my imagination.... and I have a biiiiiigggg imagination. If for no other reason, than to invest in a dream that has the (realistic) potential to change the world as we know it.. i'm in. We're nowhere near any of this, but when I measure an investment, I look at the potential, and if I am measuring the potential of 10 blockchain projects, I would still put XRP and the Ripple software suite as #1. If (big IF here) it truly takes off... there's limitless potential. 

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I got in to the game late. I first heard of BTC back around 2014 or 2015 but was too hesitant to buy any because I didn’t trust adding my bank account to Coinbase because I had never heard of them. Now I wish I would have! 

I started reading about the technology more and kind of abandoned the subject until fall 2017. I revisited BTC and started reading more and more about it. Soon after I started learning about Ethereum. I quit smoking cigarettes back in 2016 and had saved up a years worth of money I would have spent on cigarettes. I decided I would buy something nice for myself and ended up deciding to invest some into crypto. I got some ETH and then I learned about XRP and the more I learned about it the more interested I became. 

Havent looked back since. 

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Posted (edited)

From a random video I stumbled upon on YouTube of a guy discussing digitizing the "meat world". I thought it was pretty funny and it did make a lot of sense and helped me to wrap my head around blockchain.

EDIT : I don't know much about the guy but I think it was Cedric Dahl. Looks familiar but I tried finding the specific video and can't find the one I remember. 

Edited by LordVetinari

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I purchased Bitcoin to purchased humblebundles as I did not own a creditcard (around 2015). Later when the value of Bitcoin was increasing I started to see the potential. When I was researching cryptos I came across XRP and was instantly sold on the concept. Then I bought in at .16 dollar.

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Posted (edited)

Early 2015 gambling online with some btc I had, lost my  a s s , still had btc left over in the casino account.  Fast forward to late 2016, went back to same casino site and saw that I had a balance and the price btc was way up.  Was like WOW I got some cash to play or do something else with.  Decided to see what was going on in the crypto world.  Came across Ripple & XRP, figured I missed the boat on btc, XRP was cheap, like $0.004, so bought a ton of it.  Well, its paid off so far!!!  :popcorn1:

Edited by pucksterpete

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