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And also, the banks make a ton of money using Swift. Even the Western Union and MoneyGrams of the world want to keep taking their huge cut. Even a new startup w
by snarf21 8y ago
And also, the banks make a ton of money using Swift. Even the Western Union and MoneyGrams of the world want to keep taking their huge cut. Even a new startup will have trouble getting traction in places where you can't exchange Ripple for fiat.
Add to all of this the fact that 60% of the tokens are held back. Who wants to take a large position in a currency when a single entity can flood the market anytime they want.
- pferdone 8y agoThey can't. Their 60% is in escrow. 1 billion XRP is released each month and the remainder of the unused XRP is put back into escrow after that month. https://ripple.com/xrp/market-performance/ https://ripple.com/xrp/market-performance/
- snarf21 8y agoI didn't realize that, sorry. But 1 billion released each month still has to have a huge effect on and kind of supply/demand.