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The big problem with XRP, and why you'll be waiting (a very long time)


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6 minutes ago, ADingoAteMyXRP said:

There’s been an influx of trolls since January, which represents a new calendar year and probably fresh budgets for some organizations.

I’m out of likes so need to write to say...   hear hear.  And that goes for everything you said.

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You will be waiting 10+ years for XRP to hit 30 USD. Why? Because of a specific buzzword you are sure to hear going around... FINTECH. Let's look at this word. It comprises of two parts: Fin

Ok, so first off.  Thank you for the topic. While I am going to play devil's advocate below, I want to say that don't really disagree with you.  And for those of us who aren't into XRP because we simp

Any bank that thinks they can sit around for ten years not improving their cross border services will lose that business to FIs. .  Look at what Nicolas Steiger is telling you on another thread.  He h

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1 hour ago, ADingoAteMyXRP said:

The point is less relevant than the title. The way trolls typically operate is to tack highly negative titles onto moderate threads and generate conversation and arguing through sealioning and hypotheticals. The goal isn’t to create good conversation, it’s to keep a high-ranking thread with a negative title at the top of the list to scare away potential investors since titles are many many times more visible than thread content..

The problem when someone is constantly negative about a particular thing is that it's almost certainly bad faith / an ulterior motive that's driving them.  They never offer a disclaimer or announce their true intention - usually because the intention itself is based on feelings, and it would be ridiculed if they just came out and said something like "I used to hold XRP, now I don't, so my feelings have switched from wanting XRP to go up....to wanting it to go down, and I enjoy discussing its negative aspects on these forums".  That's just an example reason, by the way (for anyone triggered :) ). 

Conversely, someone always positive about an asset is almost exclusively an investor in that asset.  I would class them as "good faith" because their intentions are clear.  Yes, their opinions are largely based on feelings too. Quite often they are ridiculed when they are "wrong" (when their asset is losing value).  In a sense, they're held to account because of their clear intentions.  Sure, many of them can overlook the negative aspects of the asset they're invested in, but you have a more informed view of their opinion than the bad faith snipers - since their intentions are clear (to talk up an asset they're invested in).   The negative talkers always come out in a bear market - because they have easy targets to ridicule, and also because likely they were in that asset previously, now they're not. 

Otherwise, I don't get it - why talk negatively about a particular asset over and over, dedicating hours of your time to it - why that asset and not the 2000 others you could equally criticise (if the argument is they have no feelings either way on XRP)? It's just cover - everyone's opinion is based on a positive or negative feeling about the subject matter.

Edited by 2ndtimearound
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9 minutes ago, Shuz said:

How would one get a job doing that?

Posting negative stuff for a paying entity?   Dunno.  Airtasker?  :)    I don’t know the mechanics but it’s widely reported and accepted that paid social media influencing jobs exist.  
That’s not saying that what’s here right now...  but you asked how.

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13 hours ago, Caracappa said:

Let's just agree no one knows anything about the future. Banks are slow generally, but can suddenly be fast when forced to when financially triggered.

Banks were pretty fast hopping on the Derivatives Instrument Gravy Train !!

Not to mention playing the game of commodities manipulations with ETFs.

 Facebook really spooked em. 

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@lysistrada Great reply (top of page 2), thanks for explaining all that. 

You reminded me of a book about our race's discoveries and inventions over the millennia. 

In some cases, the innovation was obvious, right under our literal noses !! Like buttons. They were decorative-only at first, made of wood and shells. FOR LIKE 600 YEARS FFS !! 

You huumons are a funny species :) 

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XRP should be strong enough yo noh give a sh** about trolls. 

Trying to silence the idiits would just paint all people with a bearish outlook as the same.

If xrp succeeds it should not care about trolls. We are only sensitive to it right now because our performance has been rubbish. Would we care about trolls if we were at 5 dollars.

Let them be and let us hope the perfirmance of xrp will the reason they eventually give up. 

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On 1/24/2020 at 6:49 AM, facts_dispenser said:

Yes, it is mostly a stab in the dark, but a fair estimate going by previous models. But my point is, XRP will not "moon" in 2020, or 2021, or 2022, like over-zealous 20's something millennials desire. And some delusional YouTubers.

No argument in your post.

-------------------------------

So all in all, no solid arguments presented as of yet. My opinion is balanced and sticks to reality thus far.

First off you're asserting that finance is "anti-innovation." Based on what, that they're so regulation burdened that they move slowly, or that they're actually inherently innovation averse? The other major problem with your post is in the "end user" argument. While it's true that the people who are ultimately using xrp to send money home to their "unbanked" country may not understand how the transfer service actually works, the reduced fees will naturally result in them using xrp; whether they know it or not. The lack of U.S. regulatory clarity has been a major drag on xrp utilization, and as this gets worked out, things will accelerate rapidly. As more corridors open, the synergy will result in much more than merely an additive effect. My prediction is that once the Japanese regulations go into effect this spring, SBI's intention to ramp up xrp's use, will ultimately result in a cascade of new corridor openings, partner collaborations, and greatly enhanced liquidity. It might take until late summer, or even fall to see these ripple effects, but I'd be surprised if xrp isn't in the double digits before this year is out. I believe that people are seriously underestimating the scope of the potential world-wide market for nearly instantaneous money transfers. When a technology proves itself to not only make things easier and quicker, but saves money in the process as well, the momentum behind adoption is offtimes staggering. You may not agree with my comparison, but Netflix is a perfect example of this recipe. And seriously, "Facts dispenser" - c'mon now.....   

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7 minutes ago, WuWei said:

First off you're asserting that finance is "anti-innovation." Based on what, that they're so regulation burdened that they move slowly, or that they're actually inherently innovation averse? The other major problem with your post is in the "end user" argument. While it's true that the people who are ultimately using xrp to send money home to their "unbanked" country may not understand how the transfer service actually works, the reduced fees will naturally result in them using xrp; whether they know it or not. The lack of U.S. regulatory clarity has been a major drag on xrp utilization, and as this gets worked out, things will accelerate rapidly. As more corridors open, the synergy will result in much more than merely an additive effect. My prediction is that once the Japanese regulations go into effect this spring, SBI's intention to ramp up xrp's use, will ultimately result in a cascade of new corridor openings, partner collaborations, and greatly enhanced liquidity. It might take until late summer, or even fall to see these ripple effects, but I'd be surprised if xrp isn't in the double digits before this year is out. I believe that people are seriously underestimating the scope of the potential world-wide market for nearly instantaneous money transfers. When a technology proves itself to not only make things easier and quicker, but saves money in the process as well, the momentum behind adoption is offtimes staggering. You may not agree with my comparison, but Netflix is a perfect example of this recipe. And seriously, "Facts dispenser" - c'mon now.....   

Agreed. We also can't underestimate how many people and institutions will opt to buy XRP for their own portfolio and/or use once it becomes a major player in the international payments industry -- which moves price very fast. 

Edited by XRPVisions
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Banks have been with SWIFT for so long because there was and still is no other option that could cover their needs 100%.

xCurrenty probably doesn't save many of them enough money to be worth the trouble and hassle.

xRapid isn't operating in all corridors and doesn't even have enough liquidity if say, Bank of America, wanted to hop on board full steam. xRapid also, as noted by Western Union, is not going to save every bank a lot of money if they have extensive liquidity networks already built out.

If you are going to completely revamp your backend infrastructure that millions of people entrust their money too, using a product created by what many people see as a "baby" or "start up" company with questionable beginnings and a mysterious stash of digital money, then you better be saving some big $$$, and that product better be tried and tested 100%. The latter of which xRapid is not regardless of what we would all like to believe.

Edited by AlejoMoreno
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1 hour ago, AlejoMoreno said:

Banks have been with SWIFT for so long because there was and still is no other option that could cover their needs 100%.

xCurrenty probably doesn't save many of them enough money to be worth the trouble and hassle.

xRapid isn't operating in all corridors and doesn't even have enough liquidity if say, Bank of America, wanted to hop on board full steam. xRapid also, as noted by Western Union, is not going to save every bank a lot of money if they have extensive liquidity networks already built out.

If you are going to completely revamp your backend infrastructure that millions of people entrust their money too, using a product created by what many people see as a "baby" or "start up" company with questionable beginnings and a mysterious stash of digital money, then you better be saving some big $$$, and that product better be tried and tested 100%. The latter of which xRapid is not regardless of what we would all like to believe.

They say 6% of SWIFT transactions go wrong, and it is open to a lot of fraud etc, so they need to move forward.  GPI is better but it is not the two way messaging system that XCurrent provides, it is a stop gap solution.  ODL is even better with its atomic settlement and low transfer fees.

We can see Ripple is now being mentioned everywhere in the official literature - such as at the WEF in Davos as being one of the leading solutions post SWIFT.  All banks are preparing for the digital age and they will have teams tasked to have meetings assessing different options.  When you put the different options/features down on paper there is one system that wins hands down - Ripplenet.  Maybe some will go with JPCoins and other esoteric options, but Ripple will pick up a lot of new business in the next 1-5 years

 

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