Traders Are Increasingly Converting Bitcoin (BTC) and Ethereum (ETH) to XRP –Ripple States Reason

[solodeji]

https://heraldsheets.com/2020/05/13/traders-converting-bitcoin-btc-ethereum-eth-to-xrp-ripple/

[Julian_Williams]

Very positive for XRP

[Jotaro]

6 hours ago, Julian_Williams said:

Very positive for XRP

when crypto journalism bashes xrp, we'll say they're trash articles and didnt do their research

when there's article praising xrp, we didnt fact check it and just take it, double standards much?

i'd take that journalism with a grain of salt, grouping them with all other journalism such as cryptopotato.com, newsbtc, and many more crypto news site, they're just not credible and will do anything for clicks, not to mention ridden with ADs.

[Zerpiet]

42 minutes ago, Jotaro said:

when there's article praising xrp, we didnt fact check it and just take it, double standards much?

Here's the blog post that this article is based on: https://blog.xpring.io/how-xrp-enables-faster-low-cost-cross-exchange-transfers/

It states facts that should maybe be checked, indeed, but it seems legit. The blog post is also very clearly written, and in my opinion better than OPs article. That said, this research comes from Shae Wang, who is Senior Data Scientist at Ripple, which makes it a 'Ripple promoting XRP' kind of situation.

Edited May 13, 2020 by Xrpiet

[Jotaro]

2 hours ago, Xrpiet said:

Here's the blog post that this article is based on: https://blog.xpring.io/how-xrp-enables-faster-low-cost-cross-exchange-transfers/

It states facts that should maybe be checked, indeed, but it seems legit. The blog post is also very clearly written, and in my opinion better than OPs article. That said, this research comes from Shae Wang, who is Senior Data Scientist at Ripple, which makes it a 'Ripple promoting XRP' kind of situation.

to me, the ranking of reliability goes like this, from most reliable to least:

1. external mainstream source, eg: Yahoo finance, bloombergm the edge, newspaper, TV, etc
2. Internal - straight from RIpple's mouth
3. crypto journalist sites, eg: newsbtc, cryptopotato, bravenewcoin, etc, they just take the news from no.2 (internal) and modify it slightly and publish it, tendency to mislead by modifying key words or twisting the meaning, Pros become FUD, most commonly people call Coindesk = FUDdesk given how they always bash ripple

[Flintstone]

@Jotaro I think one and two can be interchangeable at times. Number one usually get their info from number 2 and verify and elaborate on the information. I do think mainstream struggle to understand the technical side a bit, or they do, but chuck in a bit of FUD for drama.

A recent BBC interview comes to mind where they mention Ripple utilizing XRP for cross-border settlement vs traditional methods, but then criticize the volatility of the asset and neglect to mention (or they just don't understand) the speed with which settlement occurs and reduces the volatility risk more so than that of traditional methods.

Crypto proverb:

Verify, then trust.

[Julian_Williams]

4 hours ago, Jotaro said:

when crypto journalism bashes xrp, we'll say they're trash articles and didnt do their research

when there's article praising xrp, we didnt fact check it and just take it, double standards much?

i'd take that journalism with a grain of salt, grouping them with all other journalism such as cryptopotato.com, newsbtc, and many more crypto news site, they're just not credible and will do anything for clicks, not to mention ridden with ADs.

I stick to my point; this is positive for XRP 

“On days when Ethereum fees skyrocketed, XRP cross-exchange transactions also increased significantly (Figure 1). Overall, higher Ethereum fees correlate with higher volumes in XRP (Pearson’s R = 0.7, statistically this is a meaningfully strong positive correlation).

For example, on May 12, 2020, Ethereum transaction fees rose over 400%. That same day, XRP cross-exchange transactions rose 226%.”

At present BTC boom and busts are sucking money out of XRP.  This is an indication of a new dynamic relationship entering the mix which will mitigate some of the slide we have witnessed this last year of XRP slipping back against BTC/ETH.  I think the slide downwards has nothing to do with the relative qualities of the respective investments, and are more to do with the algorithms of bots.   When I write positive I am not predicting some sort of moon shot launch.

[Jotaro]

3 minutes ago, Julian_Williams said:

I stick to my point; this is positive for XRP 

“On days when Ethereum fees skyrocketed, XRP cross-exchange transactions also increased significantly (Figure 1). Overall, higher Ethereum fees correlate with higher volumes in XRP (Pearson’s R = 0.7, statistically this is a meaningfully strong positive correlation).

For example, on May 12, 2020, Ethereum transaction fees rose over 400%. That same day, XRP cross-exchange transactions rose 226%.”

At present BTC boom and busts are sucking money out of XRP.  This is an indication of a new dynamic relationship entering the mix which will mitigate some of the slide we have witnessed this last year of XRP slipping back against BTC/ETH.  I think the slide downwards has nothing to do with the relative qualities of the respective investments, and are more to do with the algorithms of bots.   When I write positive I am not predicting some sort of moon shot launch.

i agree with you, but we all already know XRP is superior in lower cost and high speed, nothing new here. (on a side note, such Pros are automatically fact-checked the moment you buy XRP, it reaches your wallet super fast and didnt cost much to transfer around)

The only difference that can be made is communicating such info to the public and let them know, it's no use if only us crypto folks know about it

[Julian_Williams]

29 minutes ago, Jotaro said:

i agree with you, but we all already know XRP is superior in lower cost and high speed, nothing new here. (on a side note, such Pros are automatically fact-checked the moment you buy XRP, it reaches your wallet super fast and didnt cost much to transfer around)

The only difference that can be made is communicating such info to the public and let them know, it's no use if only us crypto folks know about it

In this case we have a mechanism developing which is forcing users to overcome their prejudices and become educated about the benefits of using XRP.

I think the public are less blinkered than traditional Crypto users, and they are not coming in through fiat to BTC to XRP, they go on platforms like Etoro and buy XRP directly for fiat.

[Jotaro]

1 hour ago, Julian_Williams said:

In this case we have a mechanism developing which is forcing users to overcome their prejudices and become educated about the benefits of using XRP.

I think the public are less blinkered than traditional Crypto users, and they are not coming in through fiat to BTC to XRP, they go on platforms like Etoro and buy XRP directly for fiat.

they could be less blinkered, but no doubt BTC is having the name recognition, no matter what the first thing came into anyone's mind about crypto is BTC, it is what i was exposed to when i first starting to learn about crypto, anything other than BTC always comes second in terms of knowledge exposure.

for me, i came to know about xrp due to the misperception that xrp is still low in price compared to BTC and invested in it, research came after and further cemented my decision of holding it

[Julian_Williams]

6 minutes ago, Jotaro said:

they could be less blinkered, but no doubt BTC is having the name recognition, no matter what the first thing came into anyone's mind about crypto is BTC, it is what i was exposed to when i first starting to learn about crypto, anything other than BTC always comes second in terms of knowledge exposure.

for me, i came to know about xrp due to the misperception that xrp is still low in price compared to BTC and invested in it, research came after and further cemented my decision of holding it

Yes and somewhat depressingly institutional investors are going through the same process of investing in Bitcoin first, and then afterwards assessing the market, further adding to BTC dominance.  However there are other trends developing, invisible as yet, because they are outweighed by the overpowering effect of BTC first mover advantage.  I point you to the profile of investment on sites like Etoro where XRP is held by far more people than BTC, and Japan where XRP is ahead of BTC.   XRP has very high investor appeal for powerful reasons.  I believe XRP is ultimately more attractive to these investors than BTC

[Jotaro]

36 minutes ago, Julian_Williams said:

Yes and somewhat depressingly institutional investors are going through the same process of investing in Bitcoin first, and then afterwards assessing the market, further adding to BTC dominance.  However there are other trends developing, invisible as yet, because they are outweighed by the overpowering effect of BTC first mover advantage.  I point you to the profile of investment on sites like Etoro where XRP is held by far more people than BTC, and Japan where XRP is ahead of BTC.   XRP has very high investor appeal for powerful reasons.  I believe XRP is ultimately more attractive to these investors than BTC

let's hope there comes one day that XRP is the no.1

the fundamental and technical is already there with xrp, just not everyone is realizing it, eventually people may start to open their eyes and choose the real winner

but still, i believe major institutional involvement has to be there and visible to public before any significant change can happen, because ripple actually existed since around 2012 if im not mistaken, thats 8 years of time, its not a short time, it is arguable why after 8 years people still dont open their eyes, i can only come up with the reason that most people not aware of what is crypto yet due to lack of publicity.

mainstream media has to loud speaker it to indicate this is a new asset class and the masses started to flock to it, which in turn could cause a bubble then subsequently stabilizes at much higher prices compared to "Crypto Folks only Era".