We all know that banks aren't going to buy into complete currency decentralization, so that is why XRP and other more centralized coins will gain momentum because they will essentially become the stop gap solution between what we have now and what consumers actually want. Bitcoin was the disruptor showing that money will flow away from current financial implements with the right tech...with blockchain being that tech. However, Bitcoin has it's limitations...settlement speed being the primary one. To compete with the "big boys", the toolset has to be fast and scalable, to which XRP is currently proving out. XRP won't be the only coin with this feature set, but once banks and other financial establishments partner up, it will be difficult for other coins/tokens to capture that audience.
Cryptocurrency or some other digital currency will be the future of finance and will essentially change the world we live in.
Do you recommend buying XRP at the moment its 1.13usd im looking to buy for 1k $
thinzman
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@JacobKostka, I try not to give buy/sell advice, but have others do their due diligence. I think XRP is a solid buy up to 1.50-2.00 with a long outlook to early 2018 hitting that last target. XRP held up fairly well in the last downward flurry of activity and I see upside in their ecosystem. With 1K investment, you lose out a bit on the multiples, so you have to gauge what returns you're looking to make from that investment. As a daily, weekly, or monthly trade...I think there are better positions out there to take, but as a long term hold XRP is solid. Good luck with your choice.
JacobKostka
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@thinzman,
What do you mean when saying loosing a bit of multiples...i will probably put 2k instead...
thinzman
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@JacobKostka, Multiples to me are simply multipliers of investment. $1000 dollars into a $1.00 stock/equity/crypto as an example is say a factor of 1...where a greater "multiple", like putting in 10k into a $1.00 crypto would be a factor or multiplier of 10. One other way of getting that factor with your 1K investment is to look for crypto in the $0.10 range. Buying BTC with your 1K doesn't yield a great multiplier, and you would come out with a 1/10 of a bitcoin (example @ 10k)...and to get the gains you would get in smaller cryptos or alts, your bitcoin investment would have to go up a lot! This is usually why people look for cryptos that are similar to "penny stock" or sub one cent range...in the hopes that it goes up and then they don't have to put a lot of initial investment to get that multiplier.
A caveat to watching multipliers is that a 20% increase is a 20% increase no matter what crypto you choose. If you think BTC can have 20% gains then that increase is equivalent to a 20% gain in XRP, however it is more unlikely to happen.
sonicsheena
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what is the secure way to buy XRP?
lucaspiontkowski
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@sonicsheena, You need to purchase or hold Bitcoin or Etherium on from somewhere first. If you are in the USA Coinbase to purchase your Ether or Bitcoin is a good choice as its quick and easy. Then you can use an exchange like Binance to exchange to XRP. If you would like a link to either one of those platforms let me know and I will share it. (I don't want to spam, but if you are asking I will gladly share a referral link.) There are other ecxhanges like "Changely" but I prefer the Coinbase and Binance combo personally.
thinzman
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@lucaspiontkowski, Agreed. Easier to buy Bitcoin and then transfer/convert to Ripple.
GJMRealEstate
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good thought. there will likely be more room for competition in the new world of finance. (visa, mastercard, amex, etc) except I would imagine each competitor will offer some unique variation. I think the hash graph technology will interface with blockchain and digital curreny as well. an amazing new world is on the way. the singularity is coming. too bad terence mckenna is not here to witness it.
thinzman
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@gjmullen, I consider this current state of Cryptotech to be the competition phase. Aside from the obvious "fluff" coins/tokens out there, people who do their due diligence will be able to see through all the nonsense and promote valid technologies and concepts. We can't have too many options, but a handful would promote good competitive forces. 100's or 1000's of options just muddies the water and results in instability in the markets.