Re: Ripple/XRP - kind of the antithesis of what a cryptocurrency is and why they were created. Can someone help me understand the XRP coin as a currency and why it'd be worth buying?
I understand the potential in the Ripple Transaction Protocol, but I don't understand why XRP coins would be purchased & sold when conducting a transaction. The transaction protocol allegedly is supposed to support basically any commodity with a numerical value, including fiat currency.
If a large institution is doing a large transaction with another large institution across the globe, instead of conducting the transaction using a much less volatile fiat currency, they're supposed to hop on an exchange, purchase the value of the transaction total in XRP (which has a price/value that rises and falls like a rollercoaster every day) and send that XRP to the receiver. Then, the receiver of the XRP either keeps the XRP or moves it yet again to an exchange to sell it for fiat? That makes sense? Potentially losing money on what is supposed to be an instant, seamless transaction?
Am I missing something here?
Why are people buying this as an investment? Do people think that the above scenario makes enough sense and will happen frequently enough to where the 100,000,000,000 XRP in supply will be in such high demand, you'll be able to sell your XRP to an institution directly or via an exchange?
I'm probably missing a lot of details, and could be missing the whole point of why XRP coins even exist and how they will be used.
I could have it all wrong. So, I'd like to hear from people who really believe in not just the Ripple Transaction Protocol but the actual pre-mined centralized coin/currency itself enough to think it's valuable or will have real world use cases. It seems like a temporary "bridge currency" just used between people or institutions; if that's the case than it should ideally be as stable as possible and pegged to the euro, the US dollar, something. I don't see how this is supposed to increase in value or what the point of hodling (can this word just go away already??) it is. A family member of mine the other day said he went "ALL IN" with Ripple and in 10 years "it'll be the next Bitcoin"
is it a good coin or what I know I've heard of it before... I'm reading the website now and it's used for retail stores and could be used to buy products from shops???
. Going to get a little more of Litecoin to have my one and then look into litepay a little more. Seems there’s a bit of controversy going on with that though
