Quote from: California842 on August 08, 2017, 10:13:56 AM

Quote from: Pzest1 on August 08, 2017, 01:03:44 AM

Quote from: MemberBerries on August 07, 2017, 08:20:06 PM

Quote from: California842 on August 07, 2017, 07:47:34 PM

Here's an interesting "What if?" :

What if a bank or consortium of banks just decided one day to buy every single XRP token they could get their hands on?

Maybe they could end up with at least 50% of the supply between public trading and private purchases directly from Ripple. Maybe they could eventually own 90+% of all XRP ever to be in existence. Then, no matter what they paid for all those coins - Maybe 50 Billion? Maybe 100 Billion? - they would control the entire market and the price of whatever publicly traded XRP is left. Such a bank or bank consortium could only profit in such a scenario if they all also used XRP for all of their transfers and whatever new scams they dream up.

It really wouldn't matter what they paid for it. It's only money and they really do have all of it already anyway.

In this scenario a $100.00 or a $1000.00 USD XRP is entirely possible. The numbers do seem huge, I know. Probably too huge for most people to even imagine. But look at Amazon. Look at Facebook. Look at Google for JC's sake. The values of these companies is already INSANE and has forced everyone to totally reevaluate what "A lot of money" is in our post-web economy.

Banks MUST update the way they do business or they will get Bitcoined to death. They know it.

This thought makes so much sense. Now i understand why there is so much fud and trolling about ripple... those are banksters trying to convince everyone out of xrp so they can take full controll of the supply and put ANY price tag on it they want!

Mind blown

LOL you guys are on some next level $hit. Yup banks spend their time FUDing XRP. Banks could have bought into XRP when it was under 1c but it will happen anytime now ripplers don't worry lol

Banks aren't buying it guys! XRP is only needed for fees! that's it, nothing else! All you are relying on is that they will buy a heap and use it for the whole transaction, not just the fee. This is the reason they wont which is pretty clear from a risk point of view from them:

- They don't care one bit that they will get a lower fee if they completely use XRP end to end. YOU PAY THE FEE no matter what so they couldn't care less. You know that fee you currently pay for a international transaction, they aren't covering that for you and hoping they can reduce it.
- The coin (and the crypto world) is too volatile. Why would they want to hold a stash of something or trade with something that can be worth less in minutes, hours, days? FIAT is pretty stable so they will stick with it.

Unfortunately Bitcoin will be number 1, look how it survives resilience and increases in price, XRP doesn't, gets pumped and dumped. Other coins, with real world usage (apparently like you say XRP is) recover nicely. XRP gains 1c and falls when BTC is reaching new ATH's. It has declined for MONTHS.

Stop calling realists that are stating facts about what can be shown as happening as FUDers, having pipe dreams doesn't make it true and cant be proven unlike what the 'FUDers' are saying. Its your choice to keep your investment on a coin that is going nowhere or down rather than put it on coins that are moving, we know who the smart ones are, but don't worry you might move another cent or 2 over the next few years lol

Pest1 : You make some points, certainly. I do think there may be some crosstalk between what are bank-to-bank and institution-to-institution transfers and transfers to individuals.

In any event, there is no doubt at all that XRP could become .00001 USD or even maybe somehow "0." Absolutely. If there wasn't this huge risk (As there was - and still really is - with BTC,) then the huge opportunity for growth would also be less.

There is also no doubt that it could and very well may rise significantly. The current price of admittance to the XRP Show is now somewhere in the "Wish I was not a big F'n moron, then when Bitcoin was 18 cents," phase. The fact-based and logic-based reality back in those hallowed days was that Bitcoin would most likely fail and be nothing but a game. Bitcoin has succeeded not because it's such a great tech (which it is), or because it makes Sound Business Sense from and within a Harvard MBA-perspective.

Bitcoin has primarily succeeded because the former and still dominant fantasy about "government-tyrant-space monkey issue fiat," is being replaced by the "blockchain-software-generated-numbers-on-a-screen" fantasy about money and its value. Money is a fantasy we all agree on.

If XRP can generate this level of "Trust" and "Belief," it will succeed. If not, it won't. I really don't think that at this stage of the Revolution that a dogmatic, purely reason and historical approach to the matter can be entirely accurate. The standard MBA/Economist perspective just no longer applies as forcefully as it once did. It still has utility but it can no longer be the Whole Sacred Truth it once was.

Bottom line: XRP can fail and fail big. For myself, I am very happy to "Believe" in this Ripple Tech and wager a few hundred beans that my few hundred beans may be worth a few thousand beans down the line. If they don't, I had fun and have only risked a few hundred beans. I also will have been part of the Early-Believer phase in this new belief-system, which as we all know means SPECIAL PRIVILEGES!! Yes, like Lambos but many other things, too.

I fully respect that people have different ways of interpreting data. Where some see impossibility and childish dreams, others see revolution in both technology and the very ideas about what is True in our societal cosmology. If we all get together and Believe in XRP the way we did and do in Bitcoin, then via XRP we can revisit the 17 cent days of Bitcoin AND DO THE RIGHT F'N THING THIS TIME AROUND.

Kind of like missing the Yahoo Train but catching the Google Train - early.

Thank you.

Good writing.

However recent news I've read stating the IMF is telling banks to invest heavily into crypto leads me to believe that none of these coins are going anywhere but up like they have been since last ear.

Last fall ETH was around .006 and so were XMRs. XRP was 500 sats now its 10x that. And that's before IMF and banks get involved. I'm not a huge fan of banks but if their money is gonna go into this stuff like what I read then this stuff isn't going anywhere for a very long time if ever