My Thoughts On Ripple & XRP
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Avoid this cryptocurrency
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The future of the crypto industry is partially riding on what’s happening to a relatively small project that you may or may not have heard of by the name of Ripple. Currently the project is worth 43 billion dollars, a finite supply of 100 billion coins with each coin currently worth around 94 cents at the time of making this video – the peak this year was around $4 which is pretty crazy.
DISCLOSURE:
I own 3,680 XRP tokens that I bought in 2017, the price has nearly tripled since then.
What is XRP?
XRP has consistently been in the top 10 coins since it launched in 2012 and since the beginning of time it’s been compared to Bitcoin as a currency. Each XRP transaction takes anywhere between 3 to 5 seconds to settle – that’s in comparison to Bitcoin’s roughly 10 minutes, each transaction costs .0002 or 2 ten thousandths of a penny so it’s almost free to use unlike Bitcoin which can cost upwards of $50 sometimes per transaction, it can scale up to 1,500 transactions per second in comparison to Bitcoin which currently does 3. And on top of all that, it’s environmentally friendly.
WHAT IS IT FOR?
It’s not like Bitcoin or Ethereum. The closest comparison is a technology called SWIFT which is used for banks to transfer money. Swift handles something like $6 trillion dollars a day and you can think of it like iMessage for banks – which uses code that contains details about where a payment might be coming from, how much it’s for and where it’s going. In 2018 alone, half of all the high value transactions that were made were made with Swift.The legacy banking system is slow, clunky, and expensive. Ripple is trying to change that with their technology.
WHY IS XRP THE FUTURE?
There has always been a gray area from our government to figure out how to classify crypto whether cryptos are securities or if they are commodities. The SEC has accused Ripple of creating an unregistered security. Here is the difference between securities and commodities using the “Howey Test” which helps us figure that out by asking 4 simple things.
- Is it an investment of money?
- Is it in a common enterprise?
- Does it come with the expectation of profit?
- And does this profit come from the effort of other people.
If yes, then it’s considered a security. Securities are regulated much more strictly than commodities by the Securities Exchange Commission (SEC). If XRP gets classified as a security, the crypto markets would substantially fall because this would affect a lot of the speculative investments people are making today.
WHERE DOES XRP COME INTO PLAY?
It doesn’t. It was created to provide liquidity to the banks to use a standardized currency without the worry of foreign exchange rates. The currency does not depend on the technology that Ripple has created. In other words, you can use any currency (crypto or otherwise) and still use their tech.
WOULD I BUY XRP TODAY?
I would not. This is because XRP is a “pseudo crypto”. Even though it has the hallmark pillars of decentralizations like nodes, users, businesses, and developers – it lacks miners. The consensus model of XRP is based purely on what Ripple wants it to be which is why they approve the UNL (unique node list). In my personal opinion, Ripple is centralized.
I believe Ripple’s XRP had the intention of becoming more. Since it never found widespread adoption from central banks, XRP became a funding mechanism for Ripple’s (the company) projects. This means the XRP token could go to $0 and Ripple Labs could still go public and thrive with an incredible technology that was funded from the greed of speculative investors.
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
Ripple Cryptocurrency Review, My Thoughts On Ripple & XRP.
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Gold Cash – Or Rather Gold Is Money!
For instance physical money is slowly vanishing from our personal financial worlds. As you know, my Why is to impact others and alter the world one heart at a time. For starters, lets start with some simple formulas.
A cruise adventure can be a intriguing and interesting part of any cruise. You get to see the regional sights and take part in enjoyable activities. However, people sometimes have trouble enjoying the fun of the expeditions due to the fact that they have not prepared effectively. Others have their trips ruined by careless actions while on coast. There are some things you can do to assist your excursions run efficiently.
Before beginning, you will need to obtain a wallet. You can do this quickly sufficient by registering with one of the exchanges which will host wallet for you. And, although I believe you are going to desire to have several exchange wallets ultimately, you must begin with one on your own computer system both to get a better feel for Bitcoin and because the exchanges are still speculative themselves. When we get to that stage of the conversation, I will be advising that you get in the habit of moving your cash and coins off the exchanges or diversifying throughout exchanges to keep your cash safe.
There are different choices out there to select from. You desire absolutely want to buy a sorter and counter for your coins. If you just get a sorter, it will definitely put all the pennies together and all the pounds together, however it will not inform you just how much money you have in total.
Stay with what you know. Do not just develop links, websites and profiles for the sake of it. Create your material with your own business and goals in mind. This will draw in the right traffic, not just any traffic.
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After the checks are done, they would ask you to bring the original records you utilized to open your accounts. Your passport is one of the most crucial documents, to get things going efficiently with banks in China. If you occur to have a new Litecoin one now and you utilized the old passport to open your bank accounts prior to, make sure that you bring the old passport with you.
The Samsung Tocco likewise provides a terrific electronic camera system! It showcases a 5 megapixel camera with a LED flash, automobile focus, and a zoom that focuses as much as 4 times! The Tocco also showcases a brand name new innovation called Smile Shot. This innovation discovers smiling faces and right away takes a picture! It makes for terrific, yet intimate shots. The electronic camera also has single shot and multi-shot capabilities.
This may seem weird, however bank transfers are the most easily traceable kind of sending funds. When a bank account is set up ID’s, company documents and personal files need to exist in order to obtain a savings account. Although this is not a 100% guarantee that the company is legitimate, it does go a long way to providing you assurance. It also means that you can request your funds back through your own bank should anything go wrong.
Throughout history both gold and silver have actually worked as money. This innovation identifies smiling faces and immediately takes a picture! Others have their trips destroyed by reckless actions while on shore.
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