Weiss Report: Payment processor (XRP) > Store of value (BTC)???
Weiss Report says XRP will surpass BTC to become the most valuable crypto. Probably not in 2019, but sometime later. They site adoption, partnerships in banking and that payments is more valuable to people than store of value. They say XRP network effect will boost the token price because people will see the utility behind this token.
Full article here:
www.fxstreet.co...gs-201901090512?utm_source...
If XRP wants to accelerate past BTC market cap it has a tough road ahead of itself. Look at my chart. Just for XRP to get back to ATH's it needs to climb 1,250% vs BTC 534%.
When we look at real world use cases and compare value what do we get?
Gold Market Cap = ~7T USD (there's also lots of other precious metals but won't list them since everyone references BTC as Digital Gold.
Major Banks market cap: (US Banks are the largest so this gives you an idea)
Mastercard - $200B
Visa - $300B
AMEX - $85B
Discover - $20B
Chase - $300B
Citi - $135B
Wells Fargo - $220B
How much is SWIFT worth?
According to this article the global remittance system is worth $552B the past two years.
www.coindesk.com/swi...ckchain-not-included
Conclusion:
Store-of-value although not as sexy is still a much bigger value vs. owning the payment rails. The above coindesk article although outdated shows that Ripple will have major competition. Banks are not quick adopters of new technology. It is impressive however the number of partners Ripple has on it's client roster in such a short time. So the question is how will markets respond? Because as we know in stocks and crypto's the share price or token price isn't always reflective of it's worth. Even if Ripple were to manage to penetrate 25% of Swift's annual business, just this excitement alone could send XRP tokens through the stratosphere. Versus let's say a story that Bitcoin took 10% of Gold's store of value. Even though 10% of Gold is worth much more than 25% of the Swift business it's hard to tell how this would play out in the volatile markets of crypto.
What are your thoughts?
Bobby
-Don't hate the hair, hate the game
Full article here:
www.fxstreet.co...gs-201901090512?utm_source...
If XRP wants to accelerate past BTC market cap it has a tough road ahead of itself. Look at my chart. Just for XRP to get back to ATH's it needs to climb 1,250% vs BTC 534%.
When we look at real world use cases and compare value what do we get?
Gold Market Cap = ~7T USD (there's also lots of other precious metals but won't list them since everyone references BTC as Digital Gold.
Major Banks market cap: (US Banks are the largest so this gives you an idea)
Mastercard - $200B
Visa - $300B
AMEX - $85B
Discover - $20B
Chase - $300B
Citi - $135B
Wells Fargo - $220B
How much is SWIFT worth?
According to this article the global remittance system is worth $552B the past two years.
www.coindesk.com/swi...ckchain-not-included
Conclusion:
Store-of-value although not as sexy is still a much bigger value vs. owning the payment rails. The above coindesk article although outdated shows that Ripple will have major competition. Banks are not quick adopters of new technology. It is impressive however the number of partners Ripple has on it's client roster in such a short time. So the question is how will markets respond? Because as we know in stocks and crypto's the share price or token price isn't always reflective of it's worth. Even if Ripple were to manage to penetrate 25% of Swift's annual business, just this excitement alone could send XRP tokens through the stratosphere. Versus let's say a story that Bitcoin took 10% of Gold's store of value. Even though 10% of Gold is worth much more than 25% of the Swift business it's hard to tell how this would play out in the volatile markets of crypto.
What are your thoughts?
Bobby
-Don't hate the hair, hate the game