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chewy53

READ BEFORE you buy XRP!

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I do think it is important that folks realize they are not buying a coin that they should expect businesses to take directly from them. There was a time when they did consider commercial applications but for the moment it is more or less a bank to bank currency. That is one of the simple unique features that sets the token apart.

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53 minutes ago, chewy53 said:

Given that already 90+ banks are using the software, if only 1 bank announces they will be using XRP, the value will skyrocket as it will become the first cryptocurrency to be used in real world situations. Its not a matter of if, but when they will start using XRP. 

Xrp use across countries can increase exponentially once the real world non-experimental usage starts. Here is why: When, for example, payments & settlements between Japan and Thailand occur through Xrp, we will have 2 currencies in 1 corridor (JPY and THB legs effectively settled thru XRP). In the following step, it becomes half as hard to connect JPY through a new corridor, say to Philippines PHP, since JPY side of the settlement is already working. But once you have PHP in this step, you effectively have the PHP to THB corridor as well. Think about the combination formula, the more nodes you get the higher the number of combinations you can create without additional effort. This is why once XRP kicks off in real world use and starts connecting corridors, it will grow faster than anything we have seen so far in this space.        

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1 hour ago, jag216 said:

I do think it is important that folks realize they are not buying a coin that they should expect businesses to take directly from them. There was a time when they did consider commercial applications but for the moment it is more or less a bank to bank currency. That is one of the simple unique features that sets the token apart.

I agree that at the moment it is bank to bank but I think it's commercial usage possibilities are way bigger tbh. When banks finally start using it, it will be a "currency" plain and simple. The next step could easily be that banks integrate $XRP into the actual bank account. For example log into your bank account and you'll see national currency on one side and xrp on other side, if that small and simple step is taken it's game over for every other cryptocurrency period. 

Another possibility is being able to send peer to peer through text messages. 

But my hope is that credit cards implement it. As of today consumers swipe a card for goods or services at merchants business then at end of business day merchants batch out all credit card transactions then wait for 1-2 days for visa/mc etc. to deposit those funds in merchants bank account. However if they somehow integrate xrp and ripple tech as their platform, when u swipe a card at any store that money can be instantaneously deposited into the bank account of said merchant which will free up all the "float" money required in business's bank account. Now calculate all the credit/debit card transactions worldwide on a daily basis. 

 

Americans made 33.8 billion credit card transactions in 2015 (up 3.1 billion from 2012), worth $3.16 trillion (up $0.61 trillion since 2012). (Federal Reserve)

Americans made 69.5 billion debit card payments in 2015 (up 13 billion from 2012) with a value of $2.56 trillion (up $0.46 trillion from 2012). (Federal Reserve)

There were 775.4 payment (debit, credit, prepaid) cards in force in the U.S.in 2012. (Federal Reserve)

The number of debit and prepaid transactions in 2012 was more than twice the number of credit transactions. In 2000, the number of debit and prepaid transactions was less than half that of credit transactions. (Federal Reserve)

103.3 billion card transactions (credit and debit) were made in 2015, with a value of $5.72 trillion, up 19.9 billion and $1.07 trillion, respectively, since 2012. (Federal Reserve)

Debit cards had the highest payment intensity in 2012, with 23 payments per month. General-purpose credit cards saw 11 payments per month, and prepaid cards saw 10. (Federal Reserve)

These stats are only USA. 

$XRP the possibilities are limitless. 

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@Sandman I would love to think that, but in our lifetimes, I don't think it is going to work out that way, possibly the opposite. The replacement scenario cuts off too many fingers from the pie, a float is always going to exist and credit is used in a lot of purchases. Three really different incompatible things that xrp never really set out to solve.
The Banks are already putting xrp rails on as a premium product charging extra for speedy transfer's and using it at no extra cost in some account transfer's.

imo In our life time xrp will be treated like gold. Can I buy bullion? Yep. Can I divvy it up and use it to pay for things? Yep. But why bother buy gold or xrp? Well, gold and xrp are universal, they are very fast money and are both used by all major industrys.
What's gold worth an oz now...lol... nah, i don't think that, but i do thkn there is a lot i ripple in our lifetimes.
Maybe our grandkids will have a ripple-card after mastercard and visa put credit-lines into ripple-rails....

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