Post
Topic
Board Service Discussion
Re: Ripple is excellent, but short-sighted.
by
franky1
on 25/05/2013, 05:14:00 UTC
yet again more useless threads showing a lack of understandin of what ripple is all about.

best analogy i have found to describe it
ripple is like the postal service sending transactions (cheques/checks) in the mail to each other where everyone knows a cheque is not the actual money, but just a IOU/request for bank(exchange) to authorise payment you person named on the cheque on behalf of person B and XRP is simply the postage stamped envelope used to send the transaction.

yet everyone just see's XRP as an alt coin. avoiding the actual purpose of ripple

EG

convert bitcoin for FIAT where it costs a smal decimal of a single XRP. meaning that if you have 500xrp you can do many many transactions before needing to buy more XRP(stamps).

only the mega exchanges need hoards of XRP to do many dolar to euro, euro to yen, dollar to bitcoin, transactions..  the whole btc to xrp transactions should only be needed as often as someone goes to a post office to buy 500 stamps.. so please please realise the true purpose of ripple and stop complaining about XRP as if was always intended to be an alt.

once people start using ripple for its intended purpose XRP will be worth pennies. but i fear ripple as s payment utility will be ignored and XRP will continue to be traded as purely a altcoin against other coins directly..

which leaves me to face palm alot of community members that still don't even read the descriptions of programs and use them for their desired functions.