There is a belief that XRP has no value

There is a belief that XRP has no value

Yesterday a large amount of XRP (1 billion) was withdrawn. The transaction was recorded on the Bithumb exchanger, and the commission amount was a meager 0.000012 XRP.

While this is not the first time that huge amounts of XRP have been moved around, this time was said to be proof that XRP is essentially worthless. This information was provided by the Flibbr Twitter page, and a working executive summary was attached to the post, describing the original motivations and goals for creating the token.

The tweet states that an XRP transaction is similar to sending a “JSON list.” {Currency: xxx, Value: xxx}.


The fee for transferring 1 billion XRP is only 0.000012 cents, which means that transferring any (X) amount of USD will require the same amount of XRP. The conclusion that follows from this is: “XRP has no real value, and was always intended to be so.”


The topic of XRP's value and value has been hotly debated for some time. The main reason why much of the community considered XRP to be a worthless asset is that banks can use other cryptocurrencies by working with RIpple's XRapid system. Thus, this essentially nullifies the usefulness of XRP, since the asset does not function as the primary currency of the system in which it was intended to be used.


Additionally, some have argued that people misinterpreted the news of banks integrating with XRP as the fact that banks would start buying up XRP in huge quantities. In reality, this does not happen, and this is another argument in favor of the fact that the function of XRP is limited only to raising funds for Ripple and its founders. 


Two Separate Cryptocurrency Camps


Despite skepticism regarding the value and value of XRP, the token has managed to surpass ETH in market capitalization, and now ranks a respectable second place just behind Bitcoin. Ultimately, it is not surprising that two cryptocurrencies, one that represents Satoshi's vision and supports the development of decentralized p2p payments, and another that supports the traditional banking system, are positioned as the number one and number two cryptocurrencies relatively. 


This clearly demonstrates that at the moment the crypto community is divided into two main camps. Some hope to break the system from the outside, while others are simply trying to make money by making small changes to the current system. Only time will tell whose camp will win. 


According to cryptopotato.com

You May Also Like

32018-11-01

Ripple expands to the Middle East

Ripple has announced its expansion plan focused on the Middle East region. This was stated by the company's head of infrastructure innovation, Dilip Rao, at a conference in Dubai.

Ripple
32018-09-07

Ripple is changing the banking landscape

Ripple continues to make strong gains in a very competitive industry. As proof of his success, at the Crypto Finance Conference, Chris Larsen showed schedules for signing one production contract per week. Today, Ripple has more than 100 contracts with financial companies and is ready to go.

Ripple

Latest articles from Ripple category

Fresh video on our Channel