Yesterday, Ripple sold another 200 million XRP. If it is calculated according to the price of 3 pieces/piece, this time, Ripple has invested 600 million yuan. Someone said: "The project side is shipping, and it is afraid that it will fall again."
In fact, most people have been eccentric about the "Ribo shipment" , and the magical operation can not withstand the fact that Ruibo is the second rich myth after Bitcoin, if it was 6 years ago. You spend 1 yuan to start XRP, and by January last year, you became a multi-millionaire.
But unlike the bitcoin, which is constantly acclaimed, Ripple is often not seen by the elderly in the circle.
- Ripple's XRP online trading market broke through 1000+
- XRP volume breaks through, mainstream currency quotes start
- Ripple promotes the follow-up investment plan with the world's second largest remittance company, focusing on enhancing the circulation of XRP
- The organization held 6 billion XRP (Ripplecoin) and waited for 6 months without profit.
- Ripple Puzzle: Why is Ripple not short of money financing?
- With the use of a single scene, the source of limited value of the Ripple Coin (XRP), why is it the third in the market value?
In the recording that was leaked last year, Li Xiaolai bluntly said: "Ruibo is an unimaginable stupid project. The core team is gone, the co-founder is lighted up, but the soft silver is a silly fork. He can't understand the digital currency. Sui Ruibo, the price will go up… "
Why is such a coin with its myth of riches being squandered by many old people in the circle? This matter has to start from the products of Ripple.
You think that Ripple is not the XRP you thought.
To put it simply, what Ruibo has to do is a cross-border payment network.
In the traditional financial system such as Visa, Master, and Alipay, if cross-border transfers are to be made in different banks, it will take a long time and pay a high commission. Therefore, Ripple will engage in blockchain revolution. It is.
Ruibo Company was formerly known as Opencoin. After the revolution, it changed its name and changed it to Ripple. It has three revolutionary products called xCurrent, xRapid and xVia. For convenience, we call them Ripple's Grand Emperor, Two Emperors and Little prince.
In fact, all three princes have to do the same thing, all to help financial companies or banks achieve a cheap and easy way to transfer money.
Among them, the big prince serves the bank. When the bank and the bank want to cross-bank or cross-border transfer, they can use Ripple's distributed network (RippleNet) , which is a private chain, where the big prince plays. Is an intermediary role.
The service of the second prince can be a bank or other financial company. The payer first exchanges the money for XRP and then sends it to the bank of the payee. The bank converts the XRP into the corresponding currency and then pays it to the corresponding payee.
The service of the three princes can be an ordinary enterprise. The concept of the gateway is added. Although it is the most flexible way, the practicality is still being tested.
You may have noticed that of the three emperors, only two emperors used XRP, and the other two products did not have XRP anecdote. But in fact, the facade of Ripple is entirely supported by the great emperor.
At the beginning of this year, Ripple announced that it has more than 200 cooperative organizations, including the famous Standard Chartered, Express, UBS, etc., as well as major European banks, companies, and even some governments to cooperate with it. These sleek customers are all directed at the big prince , and have little to do with the second prince XRP.
XRP is not without pulling customers, but compared with the big prince, it is too little and too little.
Therefore, it is not surprising that the phenomenon of “flowing water and stable XRP” appears. Ripple’s many advantages are essentially not related to XRP.
Of course, for most investors, the existence of the Ripple Grand Emperor has also increased the possibility of XRP landing. This is at least more conscience than other currencies in the currency circle. However, Ripple’s operations have made XRP a highly controversial category of currency.
In the white paper, 99% of the projects in the white paper will emphasize that they are decentralized, and their own token distribution is also decentralized. Although we don’t know whether there is decentralization in the end, at least the surface work is done.
Ruibo did not play the cards at all, with a total of 100 billion tokens, 20 billion left to the founders of the team, and the remaining 80 billion, all left to the management of Ruibo.
Although Ripple has been distributing tokens through charitable and free gifts, 60% of XRP is still in the hands of Ripple.
Ruibo Company promised to put 55 billion XRPs into 55 escrow accounts on average, and put them on the market through the sale of pending orders at a rate of 1 billion per month. If they are not sold, they will stay in the future. Sell again.
XRP has completely become a sales product of Ripple. Every month, the sales are placed in the public market report of Rippo. Last year, it sold 535.56 million U.S. dollars.
This kind of currency mode is actually a USDT with a total amount limit, but buy USDT and the dollar in the bank to support it. Buy XRP ? It depends on faith.
Ripple's monthly shipment of a part of the goods, this has become a steady profit and not lost business, as for the interests of investors, it is not within the scope of Ruibo's care.
When people questioned the centralization model of XRP, Ruibo's CEO Brad completely denied this. He said: "It is very obvious that XRP is decentralized. XRP is actually decentralized than Bitcoin and Ethereum. How much decodification does Bitcoin have? Three Chinese miners are enough to control more than 50% of the computing power…"
The value of XRP
From the above we know that in the entire Ripple system, XRP coins are only used in xRapid, and almost no other time. Here, XRP plays only a transit role. For banks or financial companies, although XRP can save a lot of trouble, it also has to bear a considerable risk – XRP as a cryptocurrency, volatility, No one wants the money that I just got, and it evaporates ten points in a blink of an eye.
Continuous entrepreneur Kyle also raised doubts about liquidity in Ripple. After discussing with many banks and asset management company blockchain management, he believes that financial institutions are more inclined to use the world's circulating reserve currency for settlement, instead of XRP.
Therefore, for Ripple, its core value lies more in its underlying distributed ledger technology. That's why so many organizations choose to work with xCurrent instead of XRP.
Although Ripple never mentions the gap in the face, in the long run, Ripple is likely to become a good payment processing company, but whether XRP can become a useful cryptocurrency is not necessarily the case.
Author: Ma Shaka
Source: Block wave