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/biz/ - Business & Finance

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14488748 No.14488748 [Reply] [Original]

Can someone tell me what gives xrp token its value
I know its shit but what is the selling point?
What does xrp token do

>> No.14488785

>>14488748
every single coin and token is useless

>> No.14488865

>>14488785
Nihilistic fagot

>> No.14488883

>>14488748
Fuck off Newfag! You have to go back!

>> No.14489002

>>14488748

To transfer funds around the world cheaply

>> No.14489073

>>14488748

3 second transfer of funds internationally instead of what..3-5 days?

>> No.14489104

>>14489002

this but im not sure its that much cheaper than competition. Also how is the price supposed to go up? The banks buy the xrp for fiat, transfer it, and then sell the xrp for fiat. Why would this make the price go up when it's a neutral transaction? Also what about the 55 bil in escrow?

>> No.14489109

>>14489073
they can use xCurrent for that which doesn't use XRP?

>> No.14490031

>>14488748
it earns money for ripple

>> No.14490347
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14490347

>>14488748
Its not shit, listen up you little faggot, I'm gonna spoonfeed you.
The XRP token is to used as a bridge currency to provide near instant conversion of one currency into another. It is the token used by ripple for their xrapid corridor, which is the way ripple will get banks and other institutions to use the xrp token because it saves banks and other financial institutions incredible amounts of money (moneygram). Right now there are two different corridors for money exchange through ripple, xrapid and xcurrent. Xcurrent is still much, much faster, cheaper, and more accurate than swift or any other money transfer alternative, but it does not use the xrp token. The idea behind the xcurrent corridor is to get banks in a postition where if they decide to, they can save an additional 60%ish percent by chosing to use the xrapid corridor which can be switched over instantly the minute ripple has the okay. By using the xrapid corridor, the banks and other financial institutions also free themselves up from needing to use nostro and vostro accounts to exchange local currencies, which results in an additional gain of trillions of dollars.
the XRP token takes less than 4 seconds for transactions. No miners that have to sell to pay electricity bills. 200+ full time world-class employees. Offices all over the world. 200+ signed (public) partnerships with major financial institutions. New verticals in gaming, music, micro payment streaming, cross-platform payments. Investments from the absolute top-tier of venture-funds. Partnerships with the Gates foundation, American Express, Bank of England, PNC, Santander, SBI, etc... Working with the IMF, Fed faster payments, Bank of England, Bank of America, Western Union. If you all don't see the writing on the wall with this one it's unreal. Table your damn spoon-fed ideology about what a crypto "should be" and you might a shot at another +30,000% moonshot like 2017-2018.