Why are people buying Ripple? - page 14.

Forward_Thinking

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Activity: 155

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Quote from: KevenDabid on December 28, 2017, 09:53:40 PM

Quote from: ulhaq on December 28, 2017, 11:16:39 AM

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.

Only because XRP cooperation with many Banks, and has the actual application, block chain to eliminate the distrust between the bank and the bank, in this respect, XRP did very well, and that's what everybody investment reasons,

There are reasons not to like Ripple, but realize that many people have put a lot more value into other coins that, while more crypto-centric, are not worth the value people have put into them. I'm not advocating for Ripple, but some of the reason it could beat other alts is that it is fast and can be used for payment. It is backed by a real company with a lot of real clients. So, that reduces some of the fear of the Ripple team running away or simply failing. Again, while sure, they are not purists, they are still accomplishing a large part of the core mission of crypto - to replace fiat as a means of exchange.

Again, not saying I love Ripple, just that I do see why people might buy it, other than greed or to flip it.

KevenDabid

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Activity: 196

Merit: 10

Quote from: ulhaq on December 28, 2017, 11:16:39 AM

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.

Only because XRP cooperation with many Banks, and has the actual application, block chain to eliminate the distrust between the bank and the bank, in this respect, XRP did very well, and that's what everybody investment reasons,

Onestepinhell

full member

Activity: 462

Merit: 100

Good Morning

Well, the ripple now gives great hopes, that's all and they want to buy it.
He has strong support, a good team. Here it also gives hopes.
Well this is my opinion and it can be wrong)

DanWagner

full member

Activity: 214

Merit: 100

People who don't know any better seem to buy it , because they think it can reach bitcoin prices.
But with that supply it will be impossible.

pocketfullofpoke

full member

Activity: 476

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www.daxico.com

Talking about the alternate coin that surpasses Bitcoin Cash's in market cap and having a cheap price at 1.xx plus can somehow lure some investors to invest in. So there is no doubt why Ripple is having its market cap bigger and bigger each they and it is even closing in on ETH.

zlt220

newbie

Activity: 189

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People invest in ripples due to its low price and also hoping it will have a better future.

arakosta

member

Activity: 127

Merit: 10

For the same reason everyone buys every other single cryptocurrency. To sell it later at a higher price.

TalkToomuch

newbie

Activity: 294

Merit: 0

Quote from: ulhaq on December 28, 2017, 11:16:39 AM

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.

Basically because there is a lot of FOMO going around. Including the speculation that it will get listed on coinbase next.

philad220

newbie

Activity: 187

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People are buying ripple because of its low rate, which they are believing is still going higher.

BabyFacedGuy

member

Activity: 88

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Your third point is the most valid. Being able to invert on cryptocurrency that can be adopted by banks is definitely a good investment, talking about the cryptocurrency philosophy is very different to Bitcoin. Anyways no one can deny is a good investment

hah

full member

Activity: 183

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Greed. A lot of people don't really care about what crypto stands for they only want to make some money even if it means being the banking cartel's dog.

Alerter

jr. member

Activity: 80

Merit: 2

Quote

Why are people buying Ripple?

To sell at higher price, as usual.

Sinistlercoin

member

Activity: 71

Merit: 10

Quote from: Bukx on December 28, 2017, 08:03:29 PM

Quote from: ulhaq on December 28, 2017, 11:16:39 AM

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.

I dont really know ripple is centralized. If it is so, mean this is very big problem.
I actually have interest with ripple but if i know this before then i will switch to decentralized one.

If you didnt know, you should do more research before purchasing any crypto. You seem naive.

Bukx

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Activity: 196

Merit: 100

Quote from: ulhaq on December 28, 2017, 11:16:39 AM

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.

I dont really know ripple is centralized. If it is so, mean this is very big problem.
I actually have interest with ripple but if i know this before then i will switch to decentralized one.

nexus2k14

sr. member

Activity: 490

Merit: 250

Ripple XRP is listed high on Coinmarketcap for a long time. It's centralised, we all know that have pros and cons but it definitely proved to have a good team and constantly improving the project. XRP is in Top 10 CM for a long time, personally, I think this is the main reason people investing in it, its stable and the price is increasing, the team doing a great job and it reflects 3rd place on CMC. Ripple is very recognisable as a kind of crypto "brand"

Sinistlercoin

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Merit: 10

There is one group that wants decentralization and a worldwide monetary system, which will not happen without one world govermnent. This group buys into the idea of bitcoin. As long as the banks and governments allow these cryptos, they have appeased this small group and the group keep isnt hurting anything.

There is another group that see cryptocurrency as a way to take advantage of the first groups efforts, and this group does so to make money. They dont care about decentralization. They see XRP and Ripple as a stable long term system to increase their investment. They believe that the banks have a vested interest in making Ripple work well. For a bank, using Ripple reduces transaction time, which makes that money available for other uses, including bearing interest. The reduced transaction costs save a lot of money for the bank. XRP allows governments to maintain their sovereign currency and gives the bank a medium for conversion. So governments and banks will opt for the Ripple or something similar. This, coupled with the belief that XRP will continue to increase in value makes it the coin of choice for this group.

KingScorpio

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Activity: 1470

Merit: 325

Quote from: ulhaq on December 28, 2017, 11:16:39 AM

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.

i think they do that because they think the banksters that created ripple will print communal currencies, scam all imprisioned souls that work for it and buy with it their own cryptocurrency (ripple) to pump it up in the market and make it look good so people run for it and work for it.

and since they belive in this established banker money press strategy, they buy ripple,

but there are also those that do not believe in the success of this banker strategy but that want to make profits from those that do believe in this banker strategy since they cause a higher demand,

like me i temporarily own ripple, to earn money from those that believe in ripple and their strategy, people in asia seems to believe and speculate a lot on these western bankers

hope this helped

Thinvestor

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Activity: 184

Merit: 100

I think its dumb newbies buying, that dont understand ripple is a centralised shitcoin thats worthless garbage (I'm not a fan if you cant tell)

crairezx20

legendary

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I saw a lot of people are buying ripple but i think it is because ripple will be added in coinbase wallet list.. just heard this thing in facebook group since coinbase lots of client and customers some of them will be invest in ripple because they know there are many people are supporting it.. and i know the price could be possible to increase its value..

JoyofCrypto

member

Activity: 198

Merit: 10

Most people are buying xrp because they think it is cheap and can moon to prices like eth not understanding that the supply of xrp is just too big for that to ever happen.

Topic: Why are people buying Ripple? - page 14. (Read 2117 times)