Topic: Ripple says it has $15bn war chest (Read 365 times)

True! The market of cryptocurrencies diversifies more and more and many coins are on their way to find their (small and bigger) niches where they can coexist, grow and prosper. One succeeding coin doesn't mean, that all other coins have to fail. One succeeding coin doesn't mean, that other coins are rubbish.
If XRP will go on and realize its plans, a value of 2$ per coin won't be impossible. And a lot of experts say, that an assumption of a price of 2$ is conservative...

that announcement changes nothing it is the same as it was before,
ripple war chest is unlimited it is basically owned and run by the same group of people that controlles the central bank in the usa, so it will terrorize the world, trying to save those elites asses and ability to print and live of what they printed.

nothing changes with that statement,

because their core problem is that marketing campaigns wont make them more popular, and a lot of money spend to hire overworked cryptobrainiacs wont make them look more inclusive, but its in the end still a good opportunity to earn communal money for cryptocoders, but ripple still will not likely succed

regards

I'm not an expert, I've just done enough research to see the value and the potential of what Ripple are doing, and to see the very professional way they're going about it.
I couldn't put a figure on potential price of the token, but I genuinely believe it could transform international finance. I expect that in the longer-term both XRP and ETH will overtake BTC in cap, and that XRP will most likely be number one.
Not that I expect bitcoin to fall - I don't - I expect it to rise considerably... just not as fast or as much as XRP.


Yes, you save money by using the Ripple ledger, and you can use any old token to do so. But you don't eliminate counter-party risk, you can only do that by using the token that is native to the ledger, i.e. XRP. It's the 'razor and blades' business model.

"using its blockchain technology to move large sums of money across borders." I've noticed in various articles when they present it in those terms, they mean not using XRP just technology that ripple developed.

Banks just aren't interested in public chains, This has been demonstrated in both XRPs case and Ethereum. Doesn't stop people using this type of information to pump either ETH or XRP. The public chains basically represent free money to ripple and the Ethereum Foundation.

Yeah, they should have that. They earned dumping their coins to user and invested for themselves. The ripple or its user has nothing to do with that war chest.

What do you see the long term value of Ripple being at its top?

I understand why people have an aversion to Ripple, but I have great faith both in the project itself and the long-term value of XRP. The potential market is absolutely vast, and dwarfs the entire current crypto space.

I will lie to see them release the tokens they  claim to have into the market and let see how the price will react, these tokens will only dillute the value of tokens on the market

XRP has a market cap under $10bn but it has another "$15bn of the cryptocurrency?!!!"  Poorly written.  I think they meant to say they have another 15 Billion in XRP (which is not locked in escrow which they can use).  Difference being XRP is not $$$ and if they were to sell 15 Billion XRP the price would tank.  Which is also a reason to avoid Ripple, they own billions and billions of it.  Billions more in escrow.  Billions also owned by the co-founder who can release it over the years. 

The head of Ripple, one of the biggest blockchain companies, has said its $15bn of cryptocurrency reserves could be used to acquire or partner with rivals, as it seeks to dominate its fast-moving sector within financial technology.

Brad Garlinghouse, chief executive of Ripple, said the California-based company had “moved out of the sandbox” after signing up more than 100 customers, many of which were now using its blockchain technology to move large sums of money across borders.

Blockchain is an electronic record keeping system that uses cryptography to create verifiable histories of transactions. It is a core component of cryptocurrencies such as bitcoin and Ripple’s own XRP.

“This is not a science experiment, it is about using real money for real customers,” Mr Garlinghouse told the Financial Times. “There are a lot of blockchain tourists out there who are kicking the tyres, but we are well beyond that.”

The company on Tuesday announced several new customers had signed up to start using its technology for cross-border payments, including France’s Crédit Agricole, Brazil’s Bexs Banco and Uruguay’s dLocal.

It also said that SEB, the Swedish bank, had used Ripple’s system to transfer $180m between Sweden and the US in recent months to help manage the cash balances of one of the bank’s large corporate customers.

Ripple’s cross-border payments system is based on using its XRP cryptocurrency, which customers buy and sell almost instantaneously to move money between countries and currencies over the company’s system.

It allows cross-border payments to be completed within 10 to 15 seconds, compared with about three days for interbank transactions using the Swift network.

The value of XRP has multiplied by 25 in the past five months amid a wider boom in cryptocurrencies. While the market value of XRP has risen close to $10bn, there is a further $15bn of the cryptocurrency that Ripple holds in reserve.

“Ripple owns about $15bn of XRP and we will use that to ensure that we continue to advance,” Mr Garlinghouse said. “One of the biggest challenges for investors and the media with blockchain is to decide what is real and what is hype, as frankly some of this stuff can be done with a simple database,” he said.

Leading bankers including Jamie Dimon, chief executive of JPMorgan Chase, have dismissed cryptocurrencies such as bitcoin as a “fraud” and while central banks around the world have examined blockchain technology many of them have said it is too immature for them to use.

But Mr Garlinghouse said blockchain technology offered numerous advantages over the current system for moving money around the world, which he said was plagued by errors and inefficiencies.

“For decades the payments industry has been ruled by an oligopoly of large firms like JPMorgan, Citigroup and Visa, for which it is a massive cash cow,” he added. “But now with the internet, people expect payments to be immediate, smooth, reliable and low-cost.”

Mr Garlinghouse said Ripple would save big financial institutions money because it would spare them the need to hold an estimated $5tn of funds in pre-funded “nostro” accounts around the world to handle cross-border payments for themselves and their clients.


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