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Inflection point for XRP. Does it require new rebranding?


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Before I advance wanted upfront state that 80% of my crypto holdings are XRP. Whatever critics i state are my own, for which several I will also fail into that category as well. I believe in the tech and it’s potential, but it feels some rebranding of its use-case may be necessary.

 

For some years now XRP has been defined/championed as the new cross-border crypto that would power banks, SMEs and many other emerging corridors. There has been some lagging to its adoption (whether debatable or not, ODL values “speak” for itself) or potentially it may never reach the adoption we all dreamt of. Maybe it still can, but as it stands now there is a large lagging to XRP’s “clear” adoption. I think many of us XRP enthusiasts fall into the illusion that Ripple alone would do all the work. That has been a mistake because (and no faults to Ripple; I attribute 0% blame) there are many power house companies in the world also competing for the same share of the pie. Also regulation clarity is still lagging and that does not help as well.

 

Let us then compare with other major crypto out there, because the “doomsday” scenario is not here for XRP. Likely it just needs to grow or mutate to something else entirely. Bitcoin was supposed to be the crypto cash for people but year by year (due to low throughout of transfers, high fees, high consumption of energy) bitcoin mutated to what it is now defined as a store of value. Digital gold.

 

Ethereum is defined as the smart contract platform, and whether we like it or not, it has been successful to attract market makers, developers, supporters, and many. It pretty much remained what was designed to be since inception.

 

XRP on the other hand attracted too many bloggers, YouTube’s, conspirators, deniers, scammers, the list goes on. Important to mention it is literally impossible nowadays to criticize XRPs infrastructure (weaknesses) without being bashed all over social media. That hurdles growth, searching/upgrading weaknesses to any network makes it more robust. There is a reason Apple, Microsoft, the gaming industry, any app on your computer or mobile is continuously updating. Criticism should be welcomed but that is presently not the case for XRP. Also I somehow read recently a lot of disdain towards Ripple seemingly has they should be the ones to blame. We are XRP stakeholders NOT Ripple shareholders. Also Ripple is competing in the most aggressive market in the world and let us not forget they are a startup. Yes they are still “small” in such a world of giants.

 

Ok, I definitely don’t want this topic turn into hate contest or post bashing but instead, it is my idea to turn it into suggestive of alternatives to what XRP can additionally be defined. Bitcoin mutated overtime. So XRP could also use some “rebranding”. We finally have a XRP foundation (XRP was literally the only top 20 crypto that was missing it) and thumbs up to those participants that have been championing/contributing for it. The XRP community may need to mutate as well and grow. It is currently super fragmented and there is no way to sand the problem. We all need to grow together.

 

Ok, XRP did not change in its properties, it still is high speed transactions, high throughout, low fees. It allows escrow accounts. So with this properties what else could XRP mutate to?

 

Me: definitely individual payments. The real crypto cash to individuals worldwide. But yeah this is not new (that is what bitcoin was supposed to and bitcoin cash is trying to get it). I also lack ideas but maybe some of you have really good suggestions.

 

Open up please.

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Very well said and thoughtful post. You are correct that XRP /RL is simply a fan supported, hollow celebrity, that plays a handsome doctor on TV, and is continually  frustrated as to why they cannot get published in the New England Journal of medicine. 

How to fix XRP: Been posted many times.

1) burn or dump the escrow.  There can be no trust until RL releases its control of XRP OR start marketing themselves as a centralized solution.

2) Switch to proof of work, or proof of stake  . Relying on “anonymous volunteer” ledger validators is truly an idealistic method and is to simplistic and naive for securing the world’s wealth. (In fact RL still owns the UNL and the biggest share of validators, so their open and free model is still purely theoretical).
OR start marketing themselves as a centralized solution.

3) Suspend all publicity spending/ fire all paid influencers. (which will eliminate most of the members on this site)

Focus on creating an innovative and valuable product, then others will report on it. 
RL believes headlines make business. It is the other way around.

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34 minutes ago, xerxesramesepolybius said:

All very valid points but do you mean re-branding or a new use case? How many have we been through so far?

Re-branding the use case, maybe apart from cross-border payments. I haven’t been here likely as long as you; I only know XRP as the cross border crypto. What others came before? 

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32 minutes ago, Valhalla_Guy said:

Very well said and thoughtful post. You are correct that XRP /RL is simply a fan supported, hollow celebrity, that plays a handsome doctor on TV, and is continually  frustrated as to why they cannot get published in the New England Journal of medicine. 

How to fix XRP: Been posted many times.

1) burn or dump the escrow.  There can be no trust until RL releases its control of XRP OR start marketing themselves as a centralized solution.

2) Switch to proof of work, or proof of stake  . Relying on “anonymous volunteer” ledger validators is truly an idealistic method and is to simplistic and naive for securing the world’s wealth. (In fact RL still owns the UNL and the biggest share of validators, so their open and free model is still purely theoretical).
OR start marketing themselves as a centralized solution.

3) Suspend all publicity spending/ fire all paid influencers. (which will eliminate most of the members on this site)

Focus on creating an innovative and valuable product, then others will report on it. 
RL believes headlines make business. It is the other way around.

Thanks for the input. I agree that XRP’s initial distribution is distinctively the worst part. Also not just talking about ripple’s share but also the initial founders share. 

 

the validator part is yes the weakest link against growth. I honestly feel there was initially optimism for a personalized responsibility to maintain the network. But I agree with you when you mention to turn onto centralization. It is just a buzz word in crypto and investors really care less to it as long as they profit from it.

 

maybe a centralized network is all that needs.

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On the contrary, XRP has been very successful in its main use case as a funding mechanism for Ripple and for the founders to become very rich. 

Btw, the non profit foundation and Ripple holding almost half of the supply makes no sense at all. We know who controls the network and the supply. Creating this foundation won't make it more decentralized if that is what Ripple is trying to achieve or make us believe. 

Edited by XRPage
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