
Ripple cryptocurrency surges as Japanese groups agree to use it - olivermarks
https://www.ft.com/content/2f595696-ecb4-11e7-bd17-521324c81e23
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deferred
My theory to explain the price surge is that cryptotraders are looking for
non-correlation against Bitcoin which is currently trading at such a high
value that it is making a lot of people nervous. Ripple is the largest coin
that didn’t participate in the rapid marketcap gains that the BTC bullmarket
pulled ethereum, litecoin, etc into. A lot of traders hear ‘centralized
blockchain’ and think that makes it a good hedge against bitcoin’s distributed
nature - doesn’t seem to be a lot of understanding about how these bank
partnerships work or what an investment in an XRP token actually gets you.

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dpc_pw
XRP was 100% premined. How many percentage are still held be owners?

My bet would be that the tiny float is multiplying the value. Because of that
market cap of XRP is artificially inflated.

XRP network is not really a cryptocurrency, if you ask me. It is not
trustless, has counterparty risk, is censorable, not designed to be a
commodity in itself, etc.

I was actually playing with Ripple before Bitcoin existed, and it was
centralized website. I could see it having some application, but it is just no
the same game as Bitcoin and other altcoins.

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ActsJuvenile
Jed McCaleb has been selling tens of thousands of ripples a day for years.
Anyone investing in buying is just making Jed richer.

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uncoder0
Bingo. I think the delusion will persist if Coinbase lists it which is and has
been the current rumor in the trader circles I frequent. I'd lose a bit of
respect for CB if they did but it will certainly make them a lot of money
because $2.00 is so cheap!

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olivermarks
“2017 has been the year of the digital asset, and XRP has clearly outperformed
every other digital asset,” Brad Garlinghouse, Ripple’s chief executive, told
the Financial Times. “The reason for that is that the market has realised that
XRP is a highly efficient payments mechanism that is solving real world
problems for real world customers with real money.” “people are increasingly
realising that bitcoin is not going to be a panacea for all these payments
problems that people imagined it would solve”.

 _He added: “Payments with XRP settle in a few seconds, but if you buy a cup
of coffee with bitcoin it will be cold by the time the payment has been
settled.” '_

great quote

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goodoldboys
Are banks actually using the XRP token, or just a private version of ripple
technology? I can't get a clear answer on that.

Also is it possible for me to use ripple to pay for things today?

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bob_theslob646
Hard paywall.

What I do not understand is why doesn't Wall Street create their own
"coin/currency" versus use someone else's since they are the largest users of
currency currently?

