I liked the video very much. I am sure you did a lot of research to do this. You saved me a lot of time. Thanks.
I agree with your point about the moral side.
As for the investment part, I have to disagree. What concerns me is that the XRP is not very much needed to in Ripple network. I mean that even if banks adopt the system, that does not mean they would have to buy so many XRPs. And even worse, if XRPs are going to be mainly used for fees, then the banks will try to keep the price as low and as stable as possible. The Ripple company will have to provide guarantees of such stable and low price for banks to convince them to join in.
So, it is clear that Ripple as project would be a success, but that does NOT mean that XRP the currency would go up in terms of price for the long-term.
BTW, I am surprised that you are not well-known here in Steemit in contrast to Youtube. I know you from youtube, and when I saw your post here, I thought you are an imposter because of the low upvotes and followers. Then I saw the Steemit link under your youtube video. I will upvote, follow and resteem in hopes that the steemIt community would know you more.
Thank you @joelkatz. I have been researching XRP for a while now. I appreciate your insider explanations.
Based on what you say here, it is clear that the success of the Ripple network is much easier than XRP. It is much easier to convince a bank to use a fast, cheap and secure network than to convince it to buy a volatile cryptocurrency. Isn't it ?
Can you please give us any info about the banks' interest in XRP (the coin not the network) ?
Louis how you doing buddy!!! Nice to finally meet you!! Been watching your videos on YouTube thanks for all your hard work man!!! The topics you cover are great and it's usually what I'm thinking about at the time!!!
interesting that the banks want to get in the game. I remember when they would close your bank account for buying Bitcoin. My, my how times have changed.
Thank you for the informative video. My opinion on Ripple is that it is a tool by the banks to get into the blockchain technology. I think it is their hope that it will lower their transmission cost in sending funds to other banks. That said it would seem to be a good long term investment with banks supporting it . But I question if Ripple would increase in value as if its price would increase over time. If it becomes expensive or if price fluctuate widely then the banks will not use it too much as intended transferring funds thus hurt its value. So I see this as a safe but not valuable investment
What do you mean by "if it becomes expensive"? The cost of a million dollars worth of XRP will always be a million dollars. So it can't become too expensive to use for settlement.
Good video as usual, keep up the good work
Hi @louisthomas,
I liked the video very much. I am sure you did a lot of research to do this. You saved me a lot of time. Thanks.
I agree with your point about the moral side.
As for the investment part, I have to disagree. What concerns me is that the XRP is not very much needed to in Ripple network. I mean that even if banks adopt the system, that does not mean they would have to buy so many XRPs. And even worse, if XRPs are going to be mainly used for fees, then the banks will try to keep the price as low and as stable as possible. The Ripple company will have to provide guarantees of such stable and low price for banks to convince them to join in.
So, it is clear that Ripple as project would be a success, but that does NOT mean that XRP the currency would go up in terms of price for the long-term.
BTW, I am surprised that you are not well-known here in Steemit in contrast to Youtube. I know you from youtube, and when I saw your post here, I thought you are an imposter because of the low upvotes and followers. Then I saw the Steemit link under your youtube video. I will upvote, follow and resteem in hopes that the steemIt community would know you more.
XRP use for fees is always expected to be negligible. The plan is to generate demand for XRP for use as the settlement asset itself.
Thank you @joelkatz. I have been researching XRP for a while now. I appreciate your insider explanations.
Based on what you say here, it is clear that the success of the Ripple network is much easier than XRP. It is much easier to convince a bank to use a fast, cheap and secure network than to convince it to buy a volatile cryptocurrency. Isn't it ?
Can you please give us any info about the banks' interest in XRP (the coin not the network) ?
Louis how you doing buddy!!! Nice to finally meet you!! Been watching your videos on YouTube thanks for all your hard work man!!! The topics you cover are great and it's usually what I'm thinking about at the time!!!
It seems that @louisthomas does not read the comments in Steemit. :(
interesting that the banks want to get in the game. I remember when they would close your bank account for buying Bitcoin. My, my how times have changed.
No my friend. Ripple is so different than bitcoin.
Thank you for the informative video. My opinion on Ripple is that it is a tool by the banks to get into the blockchain technology. I think it is their hope that it will lower their transmission cost in sending funds to other banks. That said it would seem to be a good long term investment with banks supporting it . But I question if Ripple would increase in value as if its price would increase over time. If it becomes expensive or if price fluctuate widely then the banks will not use it too much as intended transferring funds thus hurt its value. So I see this as a safe but not valuable investment
What do you mean by "if it becomes expensive"? The cost of a million dollars worth of XRP will always be a million dollars. So it can't become too expensive to use for settlement.
Well if the one bank bought XRP at a million dollar and the price rose when they sent it to another bank, would the sending bank get the profit ?
thanks for the info
Bought just a couple of minutes ago :D