1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
- Start date
Honestly, looking at Ripple's XRP without any recognition of Stellar's XLM is a foolhearty errand. It'd be like recognizing the potential of Coca-Cola without seeing the value of Pepsi
It'd be like seeing Western Union without seeing Moneygram .... It's funny though, in certain fields of interest those more committed are prone to call others casuals whenever they deem fit but it should be noted that, again and again, the casuals are doing very well in this field
Ripple and Stellar are two prominent blockchain-based payment platforms, but they have distinct philosophies, goals, and approaches, which lead to differences in their company ethos. Here's a breakdown of the key deviations:
Target Audience and Mission
Ripple:
Ripple primarily focuses on serving financial institutions, banks, and payment providers. Its mission is to improve the efficiency of cross-border payments and remittances by replacing legacy systems like SWIFT with its blockchain-based solutions (e.g., RippleNet and XRP Ledger).
Ripple's ethos is centered on collaboration with traditional financial systems and making them more efficient, rather than disrupting or replacing them entirely.
Stellar:
Stellar, on the other hand, targets financial inclusion for individuals and small businesses, particularly in underserved or unbanked regions. Its mission is to create an open, decentralized network that enables low-cost financial services for everyone.
Stellar's ethos is more grassroots and egalitarian, emphasizing empowerment for individuals and communities rather than catering to large institutions.
Decentralization and Control
Ripple:
Ripple has faced criticism for being more centralized compared to other blockchain projects. The company holds a significant portion of the XRP supply, and the XRP Ledger is governed by a unique consensus mechanism (not proof-of-work or proof-of-stake).
Ripple's ethos leans toward pragmatism and efficiency, prioritizing speed and scalability over complete decentralization.
Stellar:
Stellar is designed to be more decentralized, with its consensus protocol (Stellar Consensus Protocol) allowing for a distributed network of nodes. The Stellar Development Foundation (SDF) oversees the network but has a more hands-off approach compared to Ripple.
Stellar's ethos emphasizes decentralization and community-driven development, aligning more closely with the original ideals of blockchain technology.
Currency and Use Cases
Ripple:
Ripple uses XRP as a bridge currency to facilitate cross-border transactions. Its primary use case is for institutional liquidity and settlement, reducing the need for pre-funded accounts in different currencies.
Ripple's ethos is institutionally focused, with XRP serving as a tool for banks and payment providers to optimize their operations.
Stellar:
Stellar uses its native token, Lumens (XLM), to prevent spam and facilitate multi-currency transactions. Its use cases include remittances, micropayments, and tokenized assets, often targeting individuals and small businesses.
Stellar's ethos is people-focused, aiming to democratize access to financial services and enable peer-to-peer transactions.
Philosophy and Values
Ripple:
Ripple's philosophy is rooted in partnership and integration with existing financial systems. It seeks to improve the current infrastructure rather than replace it, which aligns with its focus on institutional adoption.
Ripple's values emphasize scalability, speed, and regulatory compliance, making it appealing to traditional financial players.
Stellar:
Stellar's philosophy is more aligned with social impact and inclusivity. It aims to create a financial system that is open and accessible to all, particularly those excluded from traditional banking.
Stellar's values emphasize transparency, decentralization, and empowerment, reflecting its commitment to social good.
Regulatory and Legal Approach
Ripple:
Ripple has faced significant regulatory scrutiny, particularly from the U.S. Securities and Exchange Commission (SEC), which has accused XRP of being an unregistered security. This has influenced Ripple's ethos to focus on legal clarity and regulatory compliance.
Stellar:
Stellar has largely avoided major regulatory controversies, partly due to its focus on social impact and non-commercial use cases. Its ethos is more focused on building trust through transparency and community engagement.
Leadership and Origins
Ripple:
Founded by Chris Larsen and Jed McCaleb in 2012, Ripple has always been more corporate in its approach. Its leadership has prioritized partnerships with established financial institutions.
Stellar:
Stellar was co-founded by Jed McCaleb (after leaving Ripple) and Joyce Kim in 2014. Stellar's leadership has focused on creating a nonprofit, open-source platform with a strong emphasis on social impact.
Summary of Ethos Deviation:
Ripple: Institutional, efficiency-driven, and focused on integrating with traditional finance.
Stellar: Grassroots, socially driven, and focused on financial inclusion and decentralization.
While both platforms aim to revolutionize payments, their differing philosophies and target audiences reflect a clear deviation in ethos. Ripple seeks to optimize the existing financial system, while Stellar aims to create a more inclusive and decentralized alternative.
Here's a fact-check and review of DeepSeek's response regarding Ripple and Stellar:
1. Target Audience and Mission:
Ripple: Correct. Ripple focuses on banks and financial institutions with solutions like RippleNet and XRP Ledger to enhance cross-border payments. Their ethos aligns with improving efficiency within existing financial systems.
Stellar: Correct. Stellar aims at financial inclusion, targeting individuals and small businesses, especially in underbanked regions, with a focus on an open, decentralized network.
2. Decentralization and Control:
Ripple: Correct. Ripple is seen as more centralized; it uses a unique consensus mechanism, and the company holds a significant amount of XRP. Their approach is pragmatic, focusing on efficiency over total decentralization.
Stellar: Correct. Stellar promotes a more decentralized approach with the Stellar Consensus Protocol, and the Stellar Development Foundation (SDF) plays a less controlling role compared to Ripple.
3. Currency and Use Cases:
Ripple: Correct. XRP serves as a bridge currency for cross-border liquidity and settlement, primarily aimed at institutional use.
Stellar: Correct. Lumens (XLM) are used for transaction spam prevention and to facilitate multi-currency transactions, focusing on individual and small business use cases.
4. Philosophy and Values:
Ripple: Correct. Ripple's philosophy is about integration and partnership with existing systems, focusing on regulatory compliance and scalability.
Stellar: Correct. Stellar's philosophy centers on social impact, inclusivity, and creating an open financial system for all.
5. Regulatory and Legal Approach:
Ripple: Correct. Ripple has indeed faced significant legal challenges from the SEC, which has shaped its focus on regulatory compliance.
Stellar: Correct. Stellar has generally maintained a lower profile regarding regulatory issues, emphasizing transparency and community trust.
6. Leadership and Origins:
Ripple: Correct. Founded by Chris Larsen and Jed McCaleb, Ripple has a corporate approach with a focus on financial institution partnerships.
Stellar: Correct. Founded by Jed McCaleb and Joyce Kim, Stellar's approach is more nonprofit and community-oriented, focusing on social impact.
Summary of Ethos Deviation:
The summary provided by DeepSeek is accurate. Ripple focuses on institutional efficiency and integration, while Stellar is oriented towards grassroots financial inclusion and decentralization.
It'd be like seeing Western Union without seeing Moneygram .... It's funny though, in certain fields of interest those more committed are prone to call others casuals whenever they deem fit but it should be noted that, again and again, the casuals are doing very well in this field
Ripple and Stellar are two prominent blockchain-based payment platforms, but they have distinct philosophies, goals, and approaches, which lead to differences in their company ethos. Here's a breakdown of the key deviations:
Target Audience and Mission
Ripple:
Ripple primarily focuses on serving financial institutions, banks, and payment providers. Its mission is to improve the efficiency of cross-border payments and remittances by replacing legacy systems like SWIFT with its blockchain-based solutions (e.g., RippleNet and XRP Ledger).
Ripple's ethos is centered on collaboration with traditional financial systems and making them more efficient, rather than disrupting or replacing them entirely.
Stellar:
Stellar, on the other hand, targets financial inclusion for individuals and small businesses, particularly in underserved or unbanked regions. Its mission is to create an open, decentralized network that enables low-cost financial services for everyone.
Stellar's ethos is more grassroots and egalitarian, emphasizing empowerment for individuals and communities rather than catering to large institutions.
Decentralization and Control
Ripple:
Ripple has faced criticism for being more centralized compared to other blockchain projects. The company holds a significant portion of the XRP supply, and the XRP Ledger is governed by a unique consensus mechanism (not proof-of-work or proof-of-stake).
Ripple's ethos leans toward pragmatism and efficiency, prioritizing speed and scalability over complete decentralization.
Stellar:
Stellar is designed to be more decentralized, with its consensus protocol (Stellar Consensus Protocol) allowing for a distributed network of nodes. The Stellar Development Foundation (SDF) oversees the network but has a more hands-off approach compared to Ripple.
Stellar's ethos emphasizes decentralization and community-driven development, aligning more closely with the original ideals of blockchain technology.
Currency and Use Cases
Ripple:
Ripple uses XRP as a bridge currency to facilitate cross-border transactions. Its primary use case is for institutional liquidity and settlement, reducing the need for pre-funded accounts in different currencies.
Ripple's ethos is institutionally focused, with XRP serving as a tool for banks and payment providers to optimize their operations.
Stellar:
Stellar uses its native token, Lumens (XLM), to prevent spam and facilitate multi-currency transactions. Its use cases include remittances, micropayments, and tokenized assets, often targeting individuals and small businesses.
Stellar's ethos is people-focused, aiming to democratize access to financial services and enable peer-to-peer transactions.
Philosophy and Values
Ripple:
Ripple's philosophy is rooted in partnership and integration with existing financial systems. It seeks to improve the current infrastructure rather than replace it, which aligns with its focus on institutional adoption.
Ripple's values emphasize scalability, speed, and regulatory compliance, making it appealing to traditional financial players.
Stellar:
Stellar's philosophy is more aligned with social impact and inclusivity. It aims to create a financial system that is open and accessible to all, particularly those excluded from traditional banking.
Stellar's values emphasize transparency, decentralization, and empowerment, reflecting its commitment to social good.
Regulatory and Legal Approach
Ripple:
Ripple has faced significant regulatory scrutiny, particularly from the U.S. Securities and Exchange Commission (SEC), which has accused XRP of being an unregistered security. This has influenced Ripple's ethos to focus on legal clarity and regulatory compliance.
Stellar:
Stellar has largely avoided major regulatory controversies, partly due to its focus on social impact and non-commercial use cases. Its ethos is more focused on building trust through transparency and community engagement.
Leadership and Origins
Ripple:
Founded by Chris Larsen and Jed McCaleb in 2012, Ripple has always been more corporate in its approach. Its leadership has prioritized partnerships with established financial institutions.
Stellar:
Stellar was co-founded by Jed McCaleb (after leaving Ripple) and Joyce Kim in 2014. Stellar's leadership has focused on creating a nonprofit, open-source platform with a strong emphasis on social impact.
Summary of Ethos Deviation:
Ripple: Institutional, efficiency-driven, and focused on integrating with traditional finance.
Stellar: Grassroots, socially driven, and focused on financial inclusion and decentralization.
While both platforms aim to revolutionize payments, their differing philosophies and target audiences reflect a clear deviation in ethos. Ripple seeks to optimize the existing financial system, while Stellar aims to create a more inclusive and decentralized alternative.
Here's a fact-check and review of DeepSeek's response regarding Ripple and Stellar:
1. Target Audience and Mission:
Ripple: Correct. Ripple focuses on banks and financial institutions with solutions like RippleNet and XRP Ledger to enhance cross-border payments. Their ethos aligns with improving efficiency within existing financial systems.
Stellar: Correct. Stellar aims at financial inclusion, targeting individuals and small businesses, especially in underbanked regions, with a focus on an open, decentralized network.
2. Decentralization and Control:
Ripple: Correct. Ripple is seen as more centralized; it uses a unique consensus mechanism, and the company holds a significant amount of XRP. Their approach is pragmatic, focusing on efficiency over total decentralization.
Stellar: Correct. Stellar promotes a more decentralized approach with the Stellar Consensus Protocol, and the Stellar Development Foundation (SDF) plays a less controlling role compared to Ripple.
3. Currency and Use Cases:
Ripple: Correct. XRP serves as a bridge currency for cross-border liquidity and settlement, primarily aimed at institutional use.
Stellar: Correct. Lumens (XLM) are used for transaction spam prevention and to facilitate multi-currency transactions, focusing on individual and small business use cases.
4. Philosophy and Values:
Ripple: Correct. Ripple's philosophy is about integration and partnership with existing systems, focusing on regulatory compliance and scalability.
Stellar: Correct. Stellar's philosophy centers on social impact, inclusivity, and creating an open financial system for all.
5. Regulatory and Legal Approach:
Ripple: Correct. Ripple has indeed faced significant legal challenges from the SEC, which has shaped its focus on regulatory compliance.
Stellar: Correct. Stellar has generally maintained a lower profile regarding regulatory issues, emphasizing transparency and community trust.
6. Leadership and Origins:
Ripple: Correct. Founded by Chris Larsen and Jed McCaleb, Ripple has a corporate approach with a focus on financial institution partnerships.
Stellar: Correct. Founded by Jed McCaleb and Joyce Kim, Stellar's approach is more nonprofit and community-oriented, focusing on social impact.
Summary of Ethos Deviation:
The summary provided by DeepSeek is accurate. Ripple focuses on institutional efficiency and integration, while Stellar is oriented towards grassroots financial inclusion and decentralization.
i kinda feel like xrp is a deflection, the real play is hbar
In The Zone '98
Superstar
Strategic reserve anyone?
Reserve would need congress approval to spend the money
Stockpile means they'll manage what they've already seized
IIVI
Superstar
I think Stellar and Cardano are a closer comparison than XRP and Stellar/HBAR.
Plus XRP handling all the regulation means they’re quite far ahead in terms of adoption.
I think if you want to grow short term, XLR and HBAR maybe, but long term I think those profits will look nice going into XRP.
Not financial advice and like I mentioned Ripple is my main/only long term crypto asset (Solana for quick trading and low market cap plays).
Plus XRP handling all the regulation means they’re quite far ahead in terms of adoption.
I think if you want to grow short term, XLR and HBAR maybe, but long term I think those profits will look nice going into XRP.
Not financial advice and like I mentioned Ripple is my main/only long term crypto asset (Solana for quick trading and low market cap plays).
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I hold it and a couple of tokens on the chain like sauce inu and saucerswap
Mandarin Duck
Majestic and Highfalutin
Salute to you Coli Crypto geniuses but I'm gunna invest an amount I'm comfortable with investing in XRP and call it a day.
I don't have time for the memecoin bs.
I don't have time for the memecoin bs.
T-K-G
Veteran
I just need ONE.
Fukking ONE.
I’m going to scream if I still gotta be in the office within the next 12mon
nikka this shyt went up 2000% in 3 hours and I could've known about it yesterday easily if I checked my phone
I'm fukking sick to my stomach rn
Anyone know how to report their crypto earnings in TurboTax? I was unemployed for a big chunk of last year and had to sell some stuff early
Anyone know how to report their crypto earnings in TurboTax? I was unemployed for a big chunk of last year and had to sell some stuff early
Try using the website koinly.
T-K-G
Veteran
I just asked deepseek and it broke it down, mentioned koinly like other breh saidAnyone know how to report their crypto earnings in TurboTax? I was unemployed for a big chunk of last year and had to sell some stuff early
We gotta make use of this stuff brehs
This?!Missed that 900% jump on $qfe today
Never again
Gotta be locked in on Twitter for the rest of alt season. Ppl getting stuff immediately and it pumps like 15min later Smdh
T-K-G
Veteran
Yes
Get in the crypto discord
we literally missed this by like an hour, technically the info dropped the night beforeThere’s an argument for that, xrp is stealing all the spotlight. Hbar has more advanced tech and has some prominent partnerships. We have to see how it plays out but hbar has performed up there with xrp solo xlm.
Bushmaster69
Superstar
I don't know if I posted it here before, but I used Koinly more than once. It works for all of North America (US/Canada). I don't know about other countries.Anyone know how to report their crypto earnings in TurboTax? I was unemployed for a big chunk of last year and had to sell some stuff early
It worked great and was easy to use.
It is not free. They charge a small fee.
Koinly: Free Crypto Tax Software
Easily Calculate Your Crypto & NFT Taxes ⚡ Supports 800+ exchanges ᐉ Coinbase ✓ Eth ✓ Solana. ✅ View your taxes free!koinly.io