Topic: Why are people buying Ripple? - page 12. (Read 2121 times)
I think most newcomers to crypto will buy XRP, especially since most do not understand the story behind it. Also, many think the banks will support it in the future. Just my thoughts.
- it is explicitly (or at least formerly) not considered a currency
- it is centralized (the company can freeze accounts if it wants, create more coins, or be sued)
- it's major use case is for inter-bank transfers. So if Bank A and Bank B was to exchange currency x for y, they will use XRP in-between. But this gives no value to the currency itself, it is just used as an intermediary. Is it conceivable that Ripple the company will not have enough XRP for these internal bank transfers and they are going to have to buy them back from the public??
So it seems that XRP has no value outside its use by the company Ripple. Is anyone actually using it for commerce or any other reason? It is not considered a store of value like bitcoin (in any case one would want something decentralized.
Your third point is probably the reason. People hear "banks use it" and they heavily invest in it, because banks are trusted these days. On the other hand: transaction times are pretty fast and fees are usually pretty low, so it is perfectly usable.
As far as I know most people hate banks. Only can't afford people are using bank most of the time. That's what i know about it
. Aside from it xrp was always good in hyping people to get the attention of others to invest to their coins then they will pump the value and in the end dump of course.
i believe people are buying ripple because ripple is very hot now, it has so many advantages than bitcoin and all other altcoins at its platform is unique and fast transactions, also the fee for every transactions is very very cheap, that we will very sastify when we use ripple, that is why more people are using it more and more and the price is higher every month.
I only bought Ripple twice, first was my early days on this forum. It was a big mistake I promised never to repeat. Second was few weeks ago(I don't know what got into me then). I remembered promising myself never to touch the Altcoin anymore due to the issue of Centralization ... i sold everything off. I am not sure i made much profit from it, (fortunately)
I Will Never Knowingly Participate In Anything That Breaks The Principle/rule Of Cryptocurrency AND Blockchain.
I'd rather be poor.
I Will Never Knowingly Participate In Anything That Breaks The Principle/rule Of Cryptocurrency AND Blockchain.
I'd rather be poor.
I believe RIPPLE will be used by a lot of banks in the future and it will be the Banker's choice, along with STELLAR LUMENS. I believe now it has undergone a big pump and may re trace a little bit but it's on an upward trend. I wouldn't be surprised if the bankstas knock Bitcoin down to 2nd place and get XRP to be the top most coin on CMC. let's see what will happen in 2018, time will tell. It's cheap and fast I guess to use and that's one reason people are buying it. I don't have any myself, I missed the boat.
I think the ripple is an excellent speculative investment. The more banks start using ripple, the more people buy it and its price grows. One of the recent news on the ripple resource is- "The Japan Bank Consortium - a coalition of 61 banks in Japan, organized by SBI Ripple Asia, two of South Korea's largest banks with a total market capitalization of more than $ 30 billion." Such news only confirm the prospect of investing in ripple to make money on it.
I f u do a little research u will find out not a single Bank is using Ripple/RPX. Just some Banks using Ripple Protocol, not the Coin, and that is what this Coin makes so dangerous at this stage.
People only read "Banks are using Ripple", after that they buy the Coin without any further research.
- it is explicitly (or at least formerly) not considered a currency
- it is centralized (the company can freeze accounts if it wants, create more coins, or be sued)
- it's major use case is for inter-bank transfers. So if Bank A and Bank B was to exchange currency x for y, they will use XRP in-between. But this gives no value to the currency itself, it is just used as an intermediary. Is it conceivable that Ripple the company will not have enough XRP for these internal bank transfers and they are going to have to buy them back from the public??
So it seems that XRP has no value outside its use by the company Ripple. Is anyone actually using it for commerce or any other reason? It is not considered a store of value like bitcoin (in any case one would want something decentralized.
People are buying ripple because other people are buying ripple, there is no other logical explanation.
Its very simple guys, financial institutions pumped the price of BTC now after they collected the profit, they are investing in ripple because ripple is their currency thats in their control and the "sheeps" are following the trend .
Because it's hype "Ripple are growing, let's buy it!". At least a half of trades in cryptoworld are made for this reasons: somebody start screaming and the herd is bringing their money to the traders.
If its because of hype, people should be more careful because you might left behind on top and holding on it while the price are dumping. XRP is a great technology also, but because its centralized, I really doubt on this. Well I personally hold some of it and planning to sell it right away.
Totally agreed mate. I'm warning all of my friends about it. That really looks like trap to me, organized by those huge whales. It seems like they are trying to get as much as people in before they dump it very quickly. Please be careful, observe more before you buy it.
I think the ripple is an excellent speculative investment. The more banks start using ripple, the more people buy it and its price grows. One of the recent news on the ripple resource is- "The Japan Bank Consortium - a coalition of 61 banks in Japan, organized by SBI Ripple Asia, two of South Korea's largest banks with a total market capitalization of more than $ 30 billion." Such news only confirm the prospect of investing in ripple to make money on it.
People see a huge increase in capitalization, the appreciation of the currency itself, read about the prospects, favorable contracts and looking at the future buy a coin. This is not a stupid pump, but a reasonable growth. You can treat the product badly because the founders hold all the trump cards. But the product itself will not become worse from this.
the reason is so simpler than you think: because it is rising.
that is how things work 99% of the time with altcoins. when people see a rise and in some cases when the pump group leader tells the sheep to buy, they start buying that coin and the price goes even higher.
if you look at the charts it sometime have stages of the rise, first they pump it then the early "watchers" come in and finally the newbies rush in guns blazing wanting to become rich with that coin that is already pumped...
that is how things work 99% of the time with altcoins. when people see a rise and in some cases when the pump group leader tells the sheep to buy, they start buying that coin and the price goes even higher.
if you look at the charts it sometime have stages of the rise, first they pump it then the early "watchers" come in and finally the newbies rush in guns blazing wanting to become rich with that coin that is already pumped...
Because it's hype "Ripple are growing, let's buy it!". At least a half of trades in cryptoworld are made for this reasons: somebody start screaming and the herd is bringing their money to the traders.
If its because of hype, people should be more careful because you might left behind on top and holding on it while the price are dumping. XRP is a great technology also, but because its centralized, I really doubt on this. Well I personally hold some of it and planning to sell it right away.
Totally agreed mate. I'm warning all of my friends about it. That really looks like trap to me, organized by those huge whales. It seems like they are trying to get as much as people in before they dump it very quickly. Please be careful, observe more before you buy it.
I bougth some Ripple, you can know why?
About my short experience i noticed that Ripple have a big market cap 7M btc and it's speed and low fee for the transaction or for trading. i can read a good informatiom for their future
About my short experience i noticed that Ripple have a big market cap 7M btc and it's speed and low fee for the transaction or for trading. i can read a good informatiom for their future
Because it's hype "Ripple are growing, let's buy it!". At least a half of trades in cryptoworld are made for this reasons: somebody start screaming and the herd is bringing their money to the traders.
If its because of hype, people should be more careful because you might left behind on top and holding on it while the price are dumping. XRP is a great technology also, but because its centralized, I really doubt on this. Well I personally hold some of it and planning to sell it right away.
I've bought and sold a lot of ripple over the past few days, ultimately increasing my bitcoin holding in the process and increasing potential profits. Let's face it, a lot of people are only investing in crypto to make money (fiat) otherwise why else do you see headlines such as "I'm now a millionaire" etc.
The growth in ripple has helped me increase my holdings in bitcoin, and with the lowered price of bitcoin right now, any increase in the price of bitcoin means I'm turning a bigger profit than if I had just done nothing and sat on my original bitcoin holding.
To chastise people for doing this isn't really fair as we all ultimately use fiat currency every day for our daily routines and to chastise people for seeing an opportunity to make a little fist through buying and selling a crypto is wrong.
Whilst a lot of people don't understand the reasonings behind crypto, there's a lot of people who do understand labour making profits through speculative investments, of which this is a form of.
So there I've said it
I'm riding the ripple wave at the moment in order to maximise my own personal bitcoin holdings
The growth in ripple has helped me increase my holdings in bitcoin, and with the lowered price of bitcoin right now, any increase in the price of bitcoin means I'm turning a bigger profit than if I had just done nothing and sat on my original bitcoin holding.
To chastise people for doing this isn't really fair as we all ultimately use fiat currency every day for our daily routines and to chastise people for seeing an opportunity to make a little fist through buying and selling a crypto is wrong.
Whilst a lot of people don't understand the reasonings behind crypto, there's a lot of people who do understand labour making profits through speculative investments, of which this is a form of.
So there I've said it
I'm riding the ripple wave at the moment in order to maximise my own personal bitcoin holdings 
- it is explicitly (or at least formerly) not considered a currency
- it is centralized (the company can freeze accounts if it wants, create more coins, or be sued)
- it's major use case is for inter-bank transfers. So if Bank A and Bank B was to exchange currency x for y, they will use XRP in-between. But this gives no value to the currency itself, it is just used as an intermediary. Is it conceivable that Ripple the company will not have enough XRP for these internal bank transfers and they are going to have to buy them back from the public??
So it seems that XRP has no value outside its use by the company Ripple. Is anyone actually using it for commerce or any other reason? It is not considered a store of value like bitcoin (in any case one would want something decentralized.
Your third point is probably the reason. People hear "banks use it" and they heavily invest in it, because banks are trusted these days. On the other hand: transaction times are pretty fast and fees are usually pretty low, so it is perfectly usable.
Exactly. Cryptoland has very much become a gambling house like wall street, people speculate based on hypes and rumors and moods and not on the underlying real value of the asset.
I do not own ripple and im not buying it, decentralizes currencies is for peer to peer transactions cutting off the middle man (BANK)
Because it's hype "Ripple are growing, let's buy it!". At least a half of trades in cryptoworld are made for this reasons: somebody start screaming and the herd is bringing their money to the traders.
Agreed. So how the world goes, the same situation are happening at the real market of shares and stakes. It's always about a hype nowadays and it's sad.
The fact that even if it's a crypto currency what happen in the real world can also happen in digital world and vise versa.
People are buying now because they see it pumping without even realize that it's not a good entry point and they can even loss. Xrp is being manipulated by big whales and we don't know actually when it will subside even you're good in reading the graphs. So better be cautious.
People buy ripple because is an altcoin with a low rate, and to hope for a huge gain.
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