I often wonder how could many banks possibly think about buying such volatile coin... But it is important to note that most of them must be now kicking themselves in the ass
for not buying some already. I also think that with all this talk about banks a few of them have already bought some and are smiling.
Of course Ripple Labs will be making some sweet deals with the banks to sell their XRP from their fat bags so I dont think the banks will be buying much from Poloniex!
By the way Poloniex are such scum bags! They have had this server problem for a long time that suspiciously flares up when a coin is getting heated up! It happened with XRP and yesterday with STR.
Mr. Mrpumperitis congratulations!
Thanks for the reply Ray, its good to have proper conversation about a coin rather than just excitement as people should ask these things instead of just buying into potential hypes.
I agree but thebags those banks are buying from are 'bought bags', in other words those purchases are not going to increase the makert price as they are already considered owned coins.
What im struggling with and why i think banks arent buying big into XRP is its volatility. If they send a transaction for 1million dollars to another bank, they are sending XRP. Now the receiving bank pays the 1million to its desitnation and keeps its 1mil worth of XRP. The next day XRP drops and now that 1mil of XRP they have inherited is not worth the 1mil they shelled out in money to its destination.
Seems dangerous for them and we know banks arnt dont like losing money, they are also not into buying currency to watch it grow. They make money off interest and fee's. They will want it to be stable, much like money is to a degree.
I think crypto's have risked becoming more of a share than a currency. How many people realistically use bitcoin to make purchases? why would you when it can potentially increase, and imagine trying to keep up with the fluctuation when listing your pricing of something in a crypto lol. The volatility can be bad for coinse for their intended purpose. Will we see the same with XRP where its too volatile for banks to risk losses on the market and instead use the technology but not the coin?
but hey ride the current up while it is happening people, i know i am
You guys are working really hard at this troll thing. You guys have your own conversation that nobody else listens to and nobody else talks to you guys on lol.
We have been hearing this same exact stuff as above since XRP was 650 sats. Classic response above by the uninformed.
