Yes, I knew about Bitcoin back when it first came out. I just didnt have funds, and I thought well, i dont think fiat will ever go away, so I didnt pay too much attention. A client of mine kept pushing me about crypto. Again, i dismissed her. I talked to her about a month ago and she was checking the crypto markets prices. She had purchased 2k worth Ethereum and had forgotten about it. She was up 30k.
I started researching and found that the 3rd largest by Market Cap was Ripple XRP. It was around .25 at the time. Everything i read, and every video I saw on Youtube made sense. This was the only crypto being adopted by banks because their hybrid blockchain was actually a vast improvement over the btc/ether blockchain. I read how slow the process is to send money domestically as well as cross border wise. Ripple had an answer and it was XRP and Xrp Ledger. First, they connected banks on their Inter Ledger Protocal, which is much more advanced than SWIFT. the next phase would be to implement the XRP Ledger that allows banks not only to send payments instantly (ILP) but to allow for real time SETTLEMENT through XRP/Ledger.
All we are waiting for is a real time execution of a transfer and settlement in a corridor that is expensive and inneficient. They are cautious not to push implementation now as liquidity could not handle huge transfers. Example India receives $69Bn a year in retail remittance from foreign workers living abroad. We cant handle that because XRP's entire MC is 8Bn. However, a trial run in real time with say a couple hundred million is do able. So, say Japan wants to trial send 200 Mn to say Thalands bank, they would go to a local exchange and source the XRP. this would cause a "massive" spike because of supply and demand, and even sentiment. Rinse repeat for another banking partner, again, and again, and again. This is not my opinion but i have read Ripple's Chief Cryptographer talk of their plans. To even be able to capture 1% of world wide transfers and payments made say by google to employees in vietnam, 1 XRP would have to be in the hundreds if not thousands.
Right now we are tied to the ups and downs of Bitcoin. This fear of a Bitcoin split caused some panic, but i think ive read that a split wont happen and all coins are climbing back up. At a certain point XRP will have nothing to do with BTC. Its pretty mind blowing that XRP was never created for us. It was always for banks, FIs, and Institutions. Our part has been to accumulate. so yes, im not worried about my small amount. Ive read analysis putting this coin from dollars to short term to thousands longterm I really think it will be done.
im just glad i got a lot of insight from you on how to do good dd. Its so refreshing being on a board where FUD (fear, uncertainty, doubt) (crypto lingo for bashers) are not around and not tolerated.
i do believe this is ground floor but am being very strategic/cautious. i am not investing more than i can afford to lose. ive met some that are weekly buying more and more. ill be happy with a little more, but truly think what i have can turn into millions already.
I started researching and found that the 3rd largest by Market Cap was Ripple XRP. It was around .25 at the time. Everything i read, and every video I saw on Youtube made sense. This was the only crypto being adopted by banks because their hybrid blockchain was actually a vast improvement over the btc/ether blockchain. I read how slow the process is to send money domestically as well as cross border wise. Ripple had an answer and it was XRP and Xrp Ledger. First, they connected banks on their Inter Ledger Protocal, which is much more advanced than SWIFT. the next phase would be to implement the XRP Ledger that allows banks not only to send payments instantly (ILP) but to allow for real time SETTLEMENT through XRP/Ledger.
All we are waiting for is a real time execution of a transfer and settlement in a corridor that is expensive and inneficient. They are cautious not to push implementation now as liquidity could not handle huge transfers. Example India receives $69Bn a year in retail remittance from foreign workers living abroad. We cant handle that because XRP's entire MC is 8Bn. However, a trial run in real time with say a couple hundred million is do able. So, say Japan wants to trial send 200 Mn to say Thalands bank, they would go to a local exchange and source the XRP. this would cause a "massive" spike because of supply and demand, and even sentiment. Rinse repeat for another banking partner, again, and again, and again. This is not my opinion but i have read Ripple's Chief Cryptographer talk of their plans. To even be able to capture 1% of world wide transfers and payments made say by google to employees in vietnam, 1 XRP would have to be in the hundreds if not thousands.
Right now we are tied to the ups and downs of Bitcoin. This fear of a Bitcoin split caused some panic, but i think ive read that a split wont happen and all coins are climbing back up. At a certain point XRP will have nothing to do with BTC. Its pretty mind blowing that XRP was never created for us. It was always for banks, FIs, and Institutions. Our part has been to accumulate. so yes, im not worried about my small amount. Ive read analysis putting this coin from dollars to short term to thousands longterm I really think it will be done.
im just glad i got a lot of insight from you on how to do good dd. Its so refreshing being on a board where FUD (fear, uncertainty, doubt) (crypto lingo for bashers) are not around and not tolerated.
i do believe this is ground floor but am being very strategic/cautious. i am not investing more than i can afford to lose. ive met some that are weekly buying more and more. ill be happy with a little more, but truly think what i have can turn into millions already.
2
