XRP Is Not Dead! i don't think so

abhayv (25)in #ripple • 6 years ago

Summary
Future upside is very much valid.

20-25c is where I will have buy limits in at.

The key here is to be contrary to people's capitulated emotion.One thing that I have to remind myself constantly in crypto is to ignore the noise. There are vastly contrasting opinions about the asset in general. Is it the future? Does Bitcoin have any value? Up until this week, are ICOs securities or not? But I don't think any coin in this space has come under as much scrutiny as XRP.

In fact, I believe there's an element of derangement syndrome from those who see it as 'a banker's coin' - these people tend to be Bitcoin maximalists and that's fine.

I am pro Bitcoin too, but I feel they're totally missing the point. I briefly want to explain why then go into my thoughts on the long-term direction from a pure price and volume basis.Just one thing - I do not care about being wrong. I manage risk accordingly and take a view on where I believe the best price to buy at is. If it works out, great.

If it doesn't, no sweat; I'm onto the next trade.Some misconceptions
Yes, Ripple is working alongside banks.

Yes, they want mass adoption amongst banks and financial institutions.

No, they do not control most of the supply - nor are they able to 'print' more XRP as many suggest, no matter how much you inform them differently.

This third point seems to be the biggest misconception in my view, but the easiest to debunk.

There is absolutely no benefit to randomly increasing the amount of XRP - that would destroy trust in the network and make the value of XRP totally worthless. Who would want to own something that can have its value that easily degraded? That would massively interfere with the goal that they have of institutional adoption.

In simple terms, banks wouldn't touch it with a barge pole if they were able to modify the code to create a greater supply. In fact, here is the simple code that disproves the fact that more XRP can be printed since the XRP ledger is a consensus network & doesn't rely on proof of work (which is subject to brute force attacks but which are probably unlikely to occur as well):