- it is explicitly (or at least formerly) not considered a currency
- it is centralized (the company can freeze accounts if it wants, create more coins, or be sued)
- it's major use case is for inter-bank transfers. So if Bank A and Bank B was to exchange currency x for y, they will use XRP in-between. But this gives no value to the currency itself, it is just used as an intermediary. Is it conceivable that Ripple the company will not have enough XRP for these internal bank transfers and they are going to have to buy them back from the public??
So it seems that XRP has no value outside its use by the company Ripple. Is anyone actually using it for commerce or any other reason? It is not considered a store of value like bitcoin (in any case one would want something decentralized.
Exactly my point. I have been telling this to my friends countless times but they just won't listen. Like how they did not listen that bitcoin will be big when i told them earlier this year. They clearly are like everyone supporting ripple. They only see dollar signs and do not try to go deeper and understand what is going on with the project they are investing in. Oh well, that's their choice. It's not our fault that they did not listen.