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


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From a utility perspective I think XRP has a long way to go before the price rises because of adoption, no idea about time frame. 

But from a speculatitive viewpoint I think XRP will follow BTC on the next bull run, as it did on 2017.  I reckon the next ATH will be $10-$30....but thats my opinion on a limited amount of TA.   You also have to take into account that greed, fear and manipulation will play a big part in these markets until proper regulation kicks in.  So I look forward to the next bull run....as that is included in my retirement plan :-)

Edited by minotauruk
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On 1/25/2020 at 1:47 AM, 2ndtimearound said:

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.

You know your original post is good when it's actually pro-XRP but people think it is anti-XRP. Weeding out the low attention span millennials who can't read.

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3 hours ago, facts_dispenser said:

You know your original post is good when it's actually pro-XRP but people think it is anti-XRP. Weeding out the low attention span millennials who can't read.

Millennial = anyone born from around 1980 to 1999 (roughly). So from 21-40 years old. Stop using millennial as a catch-all term when you don't know what it refers to.

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On 1/28/2020 at 4:44 PM, minotauruk said:

From a utility perspective I think XRP has a long way to go before the price rises because of adoption, no idea about time frame. 

But from a speculatitive viewpoint I think XRP will follow BTC on the next bull run, as it did on 2017.  I reckon the next ATH will be $10-$30....but thats my opinion on a limited amount of TA.   You also have to take into account that greed, fear and manipulation will play a big part in these markets until proper regulation kicks in.  So I look forward to the next bull run....as that is included in my retirement plan :-)

10-30$ ? it would make everyone here rich.

I don't think we ll reach those price in the next bull run personally , If we can reach 3-5$ it would already be more than good

Edited by Baka
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On 1/24/2020 at 7:12 PM, facts_dispenser said:

 

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 - finance, and tech - technology. There is already a problem here. Finance moves incredibly slowly and is anti-innovation, technology moves very fast and is pro-innovation. Bang. And therein lies the fundamental problem when it comes to XRP: the clash of industries.

Now with XRP. Banks, especially T1 Banks, are some of the slowest and most clunky of the large corporations, whereas XRP is some of the trendiest and most cutting-edge of technologies. What do you think will happen when these two contrasting worlds collide? I mean, good heavens, Banks have stuck with Swift for almost 50 years for a reason - they really do not like change. What makes you think they'll migrate their critical workloads over to the XRP ledger in 1, 2 or 3 years? Stop being silly.

 

My problem with this post is that it's stagnant and falls short.

Finance moves steadily, technology moves very fast. The two worlds have been growing with technology. The past 50 years argument is like saying "DANG ELECTRIC VEHICLES, DA HELL WERE THEY IN THE 50'S", it just makes no sense considering what was available in the timeline. In addition finance likes to earn, especially if you are public. I think the opinion falls short but I also definitely agree with you that it isn't as fast as people expect. We want it to happen over night but adoption needs to take place which it will. And last I checked Tier1 banks ARE working with ripple, not sure if that seems silly, maybe it does, but that's how you get ahead. 

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Regulation > Capitalism > Bank Preference.

There was no real alternative competition for Swift, therefore you would need something paradigm shifting to remove it from its throne. But the competition isn’t fully transparent until regulatory clarity is established.

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16 hours ago, ianinthefuture said:

Millennial = anyone born from around 1980 to 1999 (roughly). So from 21-40 years old. Stop using millennial as a catch-all term when you don't know what it refers to.

Minor plot twist: I am actually a millennial myself. I specifically targeted millennials with short attention spans, which is an accurate stereotype.

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17 minutes ago, facts_dispenser said:

Minor plot twist: I am actually a millennial myself. I specifically targeted millennials with short attention spans, which is an accurate stereotype.

Why millennials at all in that case, then. Why not all people with 'low attention spans' who 'can't read'.

Oh because railing against millennials is an easy go-to win, I remember now.

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On 1/24/2020 at 1:59 PM, Julian_Williams said:

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 has just set up ODL very recently and he is already becoming a hub for banks in his country that have not yet set up on ODL.  Reason: He can provide a cheaper service because he has set up on Ripplenet.  Banks that do not compete will lose their market - period

Businesses, and I am one tiny one, have to cut costs to survive.  We trim our sails or we die.  My distributors pay me in pounds, and they pay high transfer costs every day sending payments to overseas suppliers like myself who want to be paid in their native currencies.  If someone is going to cut the cost of sending money by 1,2 or 3%, and make it more friendly and efficient? Hell yes, they will use that company.  They will not be loyal to their traditional banks if they waste of their money, they will transfer their business to the little competitor that does the job better and cheaper.

Go and look at what Nicolas is telling you - he has no trouble with liquidity.  He can send between 200 and 200k on his corridor and he is setting up his company to steal the market.

It amazes me that the pessimists stick on these threads spreading their pessimism without information, (speculation pessimism?) when there are more interesting threads with real information and news that would cheer them up.  Do you people enjoy feeling you lost all your money and your worlds are coming to an end? 

 

In the last week seven Thai banks joined ODL. The Bank of Singapore is setting up as a regional hub for ODL.  80% of Japanese banks are working with SBI and their ODL APIs, the non SBI Japanese banks are in other digital schemes.  100% of Indian banks are now on XCurrent.  Banks all over the world are going digital.

Digital wallets are built into Samsung phones

Hey its never going to happen any time soon?  Rubbish, it is already happening
 

I watched the interview with Nicolas. It's funny, because he fundamentally agrees with me. I paraphrase (skip to 29:00 minutes in):

Crypto Eri: "A lot of people think that the reason it's mass adoption is being held back is because of regulators are going ''na a ah', but you didn't have that push back at all..."

Nicolas: "We need more global certainty... Australia is still a small country globally, and we need certainty to drive adoption..."

Crypto Eri: "Yeah... it's a lot of education, isn't it?"

Nicolas: "Yeah, you can't just come up with your product like others might have. Because you'll scare people, we need time to build that trust..."

So essentially, the financial institutions are behind the technology startups due to a variety of factors, because they are scared/uncertain; re-read my original post, that is literally what my post was about. And again, my grandma with poor eye-sight analogy on the first page of this thread applies.

Edited by facts_dispenser
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21 minutes ago, ianinthefuture said:

Why millennials at all in that case, then. Why not all people with 'low attention spans' who 'can't read'.

Oh because railing against millennials is an easy go-to win, I remember now.

You may not think this way, but I consider it patronizing to call someone a millennial because of all the bad stereotypes that come along with the new generation of adults. Anyway, we are going off topic. Please stay on topic.

Edited by facts_dispenser
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Millennials are screwed because of the Boomers and so forth and so on. Millenials screw some other generation entity for some reason and it keeps going. We're going to zero. This may be something @tinyaccount and I actually agree on.

In the US, there will be no social security for us. Trillions in college debt and international competition to find jobs, no 30 year mortgage, and a one child policy.

Edited by 1776isHere
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1 hour ago, facts_dispenser said:

You may not think this way, but I consider it patronizing to call someone a millennial because of all the bad stereotypes that come along with the new generation of adults. Anyway, we are going off topic. Please stay on topic.

You find that patronizing? Try a mirror.

For a facts dispenser you are dispensing a lot of opinions and little facts.

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4 hours ago, 1776isHere said:

Millennials are screwed because of the Boomers and so forth and so on. Millenials screw some other generation entity for some reason and it keeps going. We're going to zero. This may be something @tinyaccount and I actually agree on.

In the US, there will be no social security for us. Trillions in college debt and international competition to find jobs, no 30 year mortgage, and a one child policy.

Even worse, we are the biggest demographic to invest into crypto. So we are definitely screwed!

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22 hours ago, facts_dispenser said:

You may not think this way, but I consider it patronizing to call someone a millennial because of all the bad stereotypes that come along with the new generation of adults. Anyway, we are going off topic. Please stay on topic.

***YOU WERE THE ONE WHO BROUGHT UP MILLENNIALS IN AN INSULTING, PATRONISING FASHION***

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