XRP Cryptocurrency: Could it Be the Next Bitcoin?

[swift_post]

Story in the Motley Fool.

https://www.fool.ca/2022/01/31/xrp-cryptocurrency-could-it-be-the-next-bitcoin/

"Foolish takeaway

Bitcoin has come a long way since it was first invented in 2009. Rising all the way to a near-trillion-dollar market cap, it has become a major asset. That has been a positive for long-term holders. Now, though, with BTC already being massive, the easy gains might be over. Perhaps, then, it’s worth adding smaller alt coins like XRP to your portfolio."

[mNk]

Well , this is a few billion $$$ question right there. 

If XRP has adoption and serves it's ( theoretically ) assigned purpose , then yes. 
Specially if XRP manages to replace SWIFT the market capitalization of XRP by itself will surpass the entire market cap of all cryptos x10 .

There are like 100 scenarios what could happen in my head atm so .... it's really difficult to answer this without a crystal ball and few candles in a dark themed tent.   

The question put on the table is a bid odd and flexible in term of answering. 
First why everything is compared to bitcoin and called the "next" ?
( All ALt's and all the crypto's are linked to the same GMC ( global market capitalization ) )
Lets take the XRP as example : 

If XRP replaces SWIFT that would lead to total market CAP x10 from current 1.6 to 16 for example , landing a Bull run not only in XRP price , but in ALL coins in general ! So theoretically bitcoin price will also surge massive !  

Basic calculations ( since i don't wanna pull a calc. ) that would land bitcoin in a ...... above 1 000 000 per coin also. 
Easy way to understand that is when you go to coinmarketcap and check the rankings. 
On the right side you gonna see a small picture next to every currency. Notice the pattern ? Is it all the same ?  ask yourself why

If you get my point. 

Edited February 2, 2022 by mNk

[wojake]

BTC has a different purpose, XRP has a different purpose.

WHEN WILL PEOPLE REALIZE THIS!?!!?

It's like comparing Amazon to Google (bad analogy but it's what I got)

[JASCoder]

I've always adhered to the notion that eventually, all utility shifts to the lowest costs.

When texting was new, it was like $0.50 a message.
When the general public starting stock trading, broker fees were over $10.
Telephone calls to the next town were "long distance," and charged by the minute.
Bandwidth "data charges" for using the Internet were billed by the megabyte. 
etc. etc.

With BTC effectively stuck with a PoW architecture, and nearly paralyzed code governance, its popularity is doomed to wane into a footnote in IT History. 

Alternatives which offer liquidity, is nearly frictionless, fast to settle, and scalable, will be the eventual winners.

That's what I saw in 2017 when I first began my own education, and why I'm still hanging out here  

Edited February 3, 2022 by JASCoder

[RobertHarpool]

@JASCoder yeah ... saw that in 2013. 

9 years later, still waiting for the dumb money to exhaust itself.

[PlanK]

Could XRP be the next prehistoric, 7TPS, Carbon Coin answer to nothing?

 

No.

On a technical and utility level, No.

 

 

[wojake]

The BTC network was designed to preserve value similar to gold and to secure the network using energy and time, we used PoW and a timechain.

15 minutes per block, it doesn't matter if the hash rate goes down or up or stagnant, it'll stay at the 15 minutes range.

It was designed that way to secure value by force with distributed trust, the XRPL is designed for another use case.

[swift_post]

The important point in this article is that fairly mainstream sources are beginning to consider xrp as an investment option.

[BXMueller4rp]

On 2/2/2022 at 2:32 AM, swift_post said:

Story in the Motley Fool.

https://www.fool.ca/2022/01/31/xrp-cryptocurrency-could-it-be-the-next-bitcoin/

"Foolish takeaway

Bitcoin has come a long way since it was first invented in 2009. Rising all the way to a near-trillion-dollar market cap, it has become a major asset. That has been a positive for long-term holders. Now, though, with BTC already being massive, the easy gains might be over. Perhaps, then, it’s worth adding smaller alt coins like XRP to your portfolio."

Motley and the Fools have been correct many times in the past. I think it's time to listen folks!

[brianwalden]

On 2/2/2022 at 10:11 AM, mNk said:

Well , this is a few billion $$$ question right there. 

If XRP has adoption and serves it's ( theoretically ) assigned purpose , then yes. 
Specially if XRP manages to replace SWIFT the market capitalization of XRP by itself will surpass the entire market cap of all cryptos x10 .

There are like 100 scenarios what could happen in my head atm so .... it's really difficult to answer this without a crystal ball and few candles in a dark themed tent.   

The question put on the table is a bid odd and flexible in term of answering. 
First why everything is compared to bitcoin and called the "next" ?
( All ALt's and all the crypto's are linked to the same GMC ( global market capitalization ) )
Lets take the XRP as example : 

If XRP replaces SWIFT that would lead to total market CAP x10 from current 1.6 to 16 for example , landing a Bull run not only in XRP price , but in ALL coins in general ! So theoretically bitcoin price will also surge massive !  

Basic calculations ( since i don't wanna pull a calc. ) that would land bitcoin in a ...... above 1 000 000 per coin also. 
Easy way to understand that is when you go to coinmarketcap and check the rankings. 
On the right side you gonna see a small picture next to every currency. Notice the pattern ? Is it all the same ?  ask yourself why

If you get my point. 

The purpose of the the XRPL isn't to replace SWIFT. That's one of Ripple's business goals. The purpose of the XRPL is to allow account holders to hold and transact in whatever currencies they want, and to tokenize their own debt. This allows for a much broader range of use cases than just replacing SWIFT.

Interestingly, I don't think the current fad of coins that aren't IOUs but are digital assets in and of themselves were really envisioned by the founders. While it was always possible from the start and I'm sure we could find early examples of coins that weren't IOUs, I don't think Jed, David, and Arthur really thought people would want to hold tokens that didn't represent an entitlement to some form of off-ledger value besides XRP.

[mNk]

The purpose of the the XRPL isn't to replace SWIFT. That's one of Ripple's business goals. The purpose of the XRPL is to allow account holders to hold and transact in whatever currencies they want, and to tokenize their own debt.  


These 2 , are the same thing. The XRP only purpose is to replace SWIFT ! We just need to be honest with ourselves and stop fairy tailing   Yeah probably if people start throwing ideas we can have 10000 different usage's for XRP on paper. That won't gonna change where XRP is going.
Swift is the global "Transact in whatever currency they want" system for the majority of bank account owners. That's why XRPL's main goal is toward that. 

I surely have no clue what Jed , David and Arthur were thinking 2013 , but I clearly can see the ideas they are trying to push present time. 

[brianwalden]

17 hours ago, mNk said:

The purpose of the the XRPL isn't to replace SWIFT. That's one of Ripple's business goals. The purpose of the XRPL is to allow account holders to hold and transact in whatever currencies they want, and to tokenize their own debt.  


These 2 , are the same thing. The XRP only purpose is to replace SWIFT ! We just need to be honest with ourselves and stop fairy tailing   Yeah probably if people start throwing ideas we can have 10000 different usage's for XRP on paper. That won't gonna change where XRP is going.
Swift is the global "Transact in whatever currency they want" system for the majority of bank account owners. That's why XRPL's main goal is toward that. 

I surely have no clue what Jed , David and Arthur were thinking 2013 , but I clearly can see the ideas they are trying to push present time. 

Bank account owners don't use SWIFT. Banks do. That's the difference. If Ripple replaces SWIFT but individuals don't have direct access to the system, F--- it.

[Frisia]

4 hours ago, brianwalden said:

Bank account owners don't use SWIFT. Banks do. That's the difference. If Ripple replaces SWIFT but individuals don't have direct access to the system, F--- it.

True but with such a comment you should include payment services providers in the discussion. First, they really act as a new player in the payment industry and even banks are relying more and more on fintech co's and, second, because individuals can operate directly with payment service providers.

So I agree that the pie is still owned by the banks but I can assure you that banks are really worried about fintech companies.

[brianwalden]

17 hours ago, Frisia said:

True but with such a comment you should include payment services providers in the discussion. First, they really act as a new player in the payment industry and even banks are relying more and more on fintech co's and, second, because individuals can operate directly with payment service providers.

So I agree that the pie is still owned by the banks but I can assure you that banks are really worried about fintech companies.

Don't get me wrong, I have no problem with banks getting their share of the business. And I know that most people won't want to directly interact with ledgers because there's no safety net. But that option needs to be there; no one can deny how countries use monetary restrictions to control their population.

But the most reliable USD IOU on the XRPL in 2014 was Bitstamp USD and it still is today. Bitstamp has been sitting the XRPL from the beginning, that's great, but USD.Bitstamp is not a coin that most people would be confident in. There's been no progress. I would even say there's been negative progress. If quality tokens don't trickle down to become available to everyone to use freely, we've really missed the point of distributed ledgers.

[Frisia]

8 hours ago, brianwalden said:

Don't get me wrong, I have no problem with banks getting their share of the business. And I know that most people won't want to directly interact with ledgers because there's no safety net. But that option needs to be there; no one can deny how countries use monetary restrictions to control their population.

But the most reliable USD IOU on the XRPL in 2014 was Bitstamp USD and it still is today. Bitstamp has been sitting the XRPL from the beginning, that's great, but USD.Bitstamp is not a coin that most people would be confident in. There's been no progress. I would even say there's been negative progress. If quality tokens don't trickle down to become available to everyone to use freely, we've really missed the point of distributed ledgers.

I had to read the previous comments to get your point. What you're saying is that (obviously) final users don't interact with Swift as banks transact the operations, but to make the XRPL ecosystem working customers should have direct access to it.

Well, that's absolutely true as it opens the way for a bunch of use cases, but - correct me if I'm missing something - the discussion seems to be on the Ripple-Swift substitution and, therefore, on the specific business case for payments (i.e. ODL, LOC), where the underlying technology is transparant for end users.

What we de facto are saying is that Ripple (with their intention to replace Swift) has different goals than the XRPL.

Whether or not Ripple will be able to convince a sufficient number of banks to work with their tools (ODL/LOC) depends on a number of factors:

1) regulatory clearance (mainly USA but surely important on a global scale);

2) some leading financial institutions & banks opting for Ripple tools;

3) perceived value of direct settlement and competition from payment service providers;

4) available number of corridors with sufficient liquidity and foreseen (hoped) "flywheel" effect;

5) developments in the CDBC area.

NB Obviously I don't have problems with banks either: I've worked for a large bank for 30yrs and they will have their piece of the pie in the payment industry.

Edited February 15, 2022 by Frisia