I am a longtime BTC/crypto skeptic. Just couldn’t get myself to believe that the world banks would give up control over global currencies. Finally made my first ever crypto purchase in March after weeks of a family member telling me XRP is the greatest thing ever and it’s going to replace the SWIFT international banking system soon after the bogus SEC lawsuit is won. Any other XRP believers/doubters care to comment on why they agree/disagree with XRP as a good hold? Thanks in advance
You bowed to the pressure of the family member or you were convinced? If the latter, care to share what the main argument for xrp are? Not vs other crypto but vs the current fiat system.
Haha good question. To be honest I began buying in mid March with barely a clue what XRP even was about. My brother has never asked, hinted, begged me to buy anything in 23 years of trading, and he pretty much did all for weeks about XRP. So I had to back my brothers play. The more research I did into it the more I agreed that XRP could legitimately be the replacement for the old slow SWIFT international banking system (it’s already happening in some Asian countries as they are using XRP for in country banking transfers). So count me as a believer. HODL long and strong LOL. (Never ever thought I would actually use that phrase LOL). Better late than never
The problem with XRP is that it competes with BTC LN Network. BTC has already two companies with apps and transactions taking place, Bottlepay and Strike. People can send fiat by a instant conversion to BTC LN and then back to fiat. People can also withdraw cash in lots of BTC ATM's all over the globe. Those companies did not install those ATMs there, Bitcoin fans did. So they benefit from the fact that BTC is an open network I read that XRP is used for remittances in some countries (IIRC Mexico) but I bet your brother did not consider that competition in his analysis or whether he is even qualified to understand if BTC's open network will win over XRP semi open network Who will win, I dont know, but I dont think most retail "investors" know either, they just like it because the XRP price has mooned
From what I understand XRPs yearly pump has nothing to do with banks adopting XRP, otherwise it would have already mooned. Banks are adopting the technology xrp uses which has absolutely nothing to do with the value of XRP. Not nessacerily saying there is no potential, but with the sec trying to nail xrp (and rightfully so) since they want to act as a security, the founders have been controlling the price so it doesn't get classified as a security. With xrp going against everything crypto was made for while catering to banks and government I stay far away from it. And even if there is money to be made, "Not all money is good money"....
%% I have bought one rat trap/more mouse traps; dont need any more. The rat trap co does sell a bit more/a real market
You're an idiot, not a skeptic. Better go search for more spelling mistakes*, instead of asking for advice on XRP. Do your own research moron. * https://www.elitetrader.com/et/thre...custody-firm-nydig.358382/page-2#post-5380981