Ripple XRP: Why To Buy
Get. A exile people and welcome dolls crypto first and foremost another financial advisor any information may be given you is my own personal opinions and knowledge mix anything cited, below massive. Thank you to everyone who's liking subscribing and, sharing please, continue to do so now, before I jump in and start talking into. The content before this video is about I do just want to address the title the, title here's, why to buy I want. To just clarify as, I've said at the top of this video I'm not a financial adviser I am. Just, suggesting that these factors, and the things that I discuss are the best way that you can assess of why you should, buy into these concepts, now whether that be buying in financially, by purchasing, any specific cryptocurrency or by, buying, into the knowledge and information and, trying to gain more knowledge on where this these, sectors. Of business are going is really. Entirely up to you but. Blindly. Investing, in anything or relying. On a single source of information to, be the best purpose, for investing is naive. And irresponsible. So, make sure you're doing your research make, sure that you're backing everything up if any of the articles that I touch on you have more interests interest in they're always linked down below you can go on have a bit of a look for yourself and, sort, of gain further but, no. That's all the way I want to talk about XRP by the numbers which, is a blog and treat by Hodor who, does a great writer if you've never read his content I very much suggest you go and do so he, really. Breaks down information, and brings it to you in a bit of a different perspective to make sure it makes it a bit more consumable and xrp by the numbers is no exception he, talks about XRP as stated. By the numbers the same way you may look at say a baseball, players statistics and bronze batted in and at-bats and all, those sorts of things and. Breaks. It down into, the exact numbers and figures now he, break ghosts or everything from adoption to use case statistics. Network. Financial, statistics except, a performer statistics, and so on I will. Go, into this but. One of the other things to keep in mind is no matter what the cryptocurrency is you maybe wanted to get involved with it is vital, that these sorts of statistics are, addressable. Or. Researchable. That is to say it is all good and well too basic exchange, of value. In the fact that all cryptocurrencies as they currently sit in the market hold a value agreed upon by the market and therefore are a store of value but, there needs to be a use case in order for them to have longevity in, order for them to have a purpose now. I'll go into that a little bit later on in the video in, regards to legal tender and how that's all how that all sort of ties in and why, I believe that there is a massive, future. For a lot of these cryptocurrencies and, specifically. XRP, but. The. Main. Thing to keep in mind is with, use case there, needs to be something there to ensure. Longevity to ensure that there is a purpose, and a, reason that, these crypto currencies, or these, systems or this particular networks, are utilized, so. The. First, thing that hodor, addresses as far as the numbers goes the adoption, talks about the number, of official acts rapid partners at a the number of official X rapid exchange is a four number.
Of Banks using extra have one number of credit union using an X rapid one and number of remittance processes using X rapid six so as, we. All know the. New version of X current actually allows you to utilize X rapid features and liquidity port without being a Direct X rapid customer so any number of that greater, than 200, customers could, potentially. Start using on it on any day at any time, but. There, are a couple of things that can be taken away from this adoption. Statistics. The first is, these. Numbers are reasonably low that is to say there. Haven't been a great number signing, on and utilizing, X rapid in the first instance one of the questions that we always get is if there is so much use case why hasn't it gone up in value yet, and the response you will get nine times out of ten is regulatory. Certainty needs, to become a reality and that is gone, it is going to take time and the other is adoption. Needs to occur now those two things need to happen in that order, there needs to be regulation, within these marketplaces that want to utilize the software and then, there needs to be adoption, within that market in order to therefore build more, use, for that liquidity, pool. So. Although. Between, your own say, you are, a major bank and you have offices. In multiple, countries you can save, yourself from having certain nostril Vostro accounts by utilizing, this liquid. But the true value becomes unlocked once the ecosystem, is completed, in that, the more gateways, that are involved going into the cryptocurrency Oh rather, sorry that are going to accept it ledger and the consensus, protocol, the. Better the value is to you in that liquidity pool, you can utilize that liquidity between, any of those Gateway partners without you having to be both the in and out road and while. Cutting your costs, increasing, efficiency. In. Order to change. Your processes, now one, of the things that's, gotten brought up recently I did address this in my live stream but I do want to address it again it was just in regards to, private. Ledges now. Private. Literature's versus public Ledger's it's, really one of those things it gets quite confused so the public ledger is where X our peers exchanged, the, XRP ledger, within. Banking, and financial institutions there, are certain rules around privacy exchange. Of information and, things that can be shared publicly in things that cannot be shared publicly that, is to say a banks, public ledger may be used for the same data. That is who, customer, a was, at such-and-such, Bank and who, it's being sent to customer, B at such-and-such Bank, or any number of variations of that but, the actual exchange of XRP, is done on the public ledger, the. There are a couple reasons for that the first and foremost being XRP, holds, its value and, its. Potential, with. The, public ledger on the basis, that it needs to be a pull of a pull, of liquidity in order to exchange value, in real time and really. That that is where, the use case comes in that is what, the entire purpose of XRP, is. Within. The ex rapid environment, that is to be utilized, as a unit of exchange as a bridge, currency, either internationally. Or domestically against. Across, foreign. Exchange markets or, directly.
As. An exchange in settlement tool rather, than need to be clearing houses and a whole number of different steps of processes, it can all be automated, into a couple of steps on its own so. That. Public, and private ledger thing does give a little bit confused. But basically think of the public ledger where the XRP is actually exchanged, and the private Ledger's held by the institutions, or banks utilizing, the public ledger keep, their information, and, their backup. That is also updated. Across any other private. Ledges that have a right for that information so if there's another Bank directly involved they would also have it updated across the consensus, protocol to their ledger and that, is where the inter ledger protocols, really come in handy because, it allows those to be, uniform. And kept. While, also, updating, on to the public ledger without. Over sharing and over developing too much information without wasting, space or taking up too much space and without. Sharing, more than the know your customer rules all the privacy rules would legally allow so. The. Daily. Volume statistics. And regards to, XRP can obviously move quite, greatly the next one he talks about is XRP performance statistics and, that is as we know 1,500, transactions. Per second on chain with. The settlement time of four seconds 50,000, plus off chain, number. Of successful closed ledges forty-four million annual. Energy, consumption is negligible, I never like to go into the exact number because, to be honest I I don't. Myself know the, terms in regards to terawatts, per hour and how little works, out or you know terawatts or whatever it may be but. We. Do know that it's negligible, even in comparison to current systems that are being utilized like, Visa and MasterCard, as opposed. To other cryptocurrencies that, may want to come in and try and serve the similar, purpose that aren't as quick and, require. Things like proof-of-work which consumes a lot of electricity because, you've got data mining and all, these things that need to be sustained, in order to allow. This exchange. Now. There. Is, also the the movement in decentralization. By XRP and that, is one, of the massive, things that gets talked about in regards to why bitcoin was originally involved why bitcoin was originally created was, to bypass, the need for financial institutions plus, to substitute, the, original. Systems. For. Money and for, these systems with and utilized blockchain, to allow straigh exchange between individuals, of value, without the need for institutional. Inter. Now, there's a couple of reasons that at this point in time Bitcoin. Doesn't that it doesn't fit the purpose the first is the, amount of time that it takes the amount of energy that consumes in the amount that it costs, for small to medium transactions, or even for large transactions, makes, the technology. Close. To to pointless in the fact that the proof of work means that it's consuming a lot of power it's consuming a lot of time that. Has ability to have these, 51%. Double. Spend attacks which have occurred in. The past. But. Also takes, away from. The. Value. In the currency itself when the currency is mainly used as an exchange against. The current, financial systems, dollar that is to say, the. Entire purpose of Bitcoin if it were to be used in its exact. Theoretical. Presence. Was to trade, Bitcoin for Bitcoin and to use Bitcoin to pay for everything and therefore. Create a one-world currency but, the reality, is in the world that we live in, Bitcoin. Is currently measured against, other currencies, that already exist within their specific countries, more than most notably the US dollar so, within, its own nature it has strayed away from exactly where the purpose was and where it was purpose-built for, as. Well as being mainly centralized, whichever mining farms can produce the most power which, are done mostly, out of Russia and China and in therefore, gives the power to a much smaller group, of individuals, than is necessary and that creates, problems and people talk about XRP being centralized, to triple the, actual, term, centralized. And in the way that it actually works the technology is absolutely not although a large amount of supply is held, by ripple, and owned by ripple, it doesn't, impact on the way that the ledger works it doesn't give them more control over the ledger or more control over settlement, or the tools or anything like that it just means that they have more to utilize and play with whereas they create these systems and as they really, hold XRP at the forefront of these. Other cryptocurrencies by.
Exposing, It to more marketplaces, by, looking, at all the different use cases that exist, now. Hodor did go into some. Really good use cases in, this if I can find the exact part of the article. We know about the performance, of this accepting like that I will go in I will look link this down below if you want to go and have a look at it it is a. Very. Very good read, but. The. Main, thing that it, really brought up for me wasn't even, necessarily, that, XRP, as the leading currency, has, all these use cases and has all this proven use and is being pushed and utilization which we all know that it is but, ultimately, it is also that, as these, things happen. We. Shouldn't lose sight of these numbers of these. Specific. Things that, bring. True, value and true value to. Intrinsic. Value as in, the actual use of these soakin strange society for the better which is the most basic form of value but also value. In the sense of longevity. And long standing nature and the fact that there needs to be sustainability. Over time in order for there to be a true, use case so, use. Case statistics, as a section I was referring to X rapid, with very large markers, measured in trillions coil. Micropayments, web monetization, is an unknown but larger market estimated and billions koteas, the smart contract market could be large but currently unknown now koteas is one that's quite interesting I've gone into this in the past in fact I'll link the. Koteas. Video here if you want to go back and have a bit of a look at it but, the main. Thing with, koteas over, something like the etherium, system, apart, from being more. Well. Developed as far as scripting, goes or, it's, also just, a bit of a different approach to smart contracts, so you've, got, the. Theory. M&A RC 20 systems with the if this than that type programming, and then you've got the, cotija. System which works in a. Package. Sort, of, exchange. Data, information, between two individuals it's really, a reimagining. Of how it all works I'm not going to go into it too much in this video because I have covered. It before but. Super. Interesting, the, potential, for smart contracts, is ever evolving and that's where we talk about these containers, being, utilized for the exchange say Securities through smart contracts and all those sorts things and that's where the potential wines for true maths. Value, to be introduced in the market and, followers application, is life's potential for retail and baking applications. Such as the XRP tip but growth. Functions. Or sharing, economy applications. Now. The. Actual. Value of x RP and that is the day traded, value right now of X RP is not reflective, of its future potential, and I, had to pose this question to. The. XR pizu actually, and actually all I'll pose the question again. In a moment first I'll go into my quota today quota day is in baseball my theory is to strive for consistency, not to worry about the numbers if you dwell on statistics you get short-sighted, if you aim for consistency. The numbers will be there at the end yeah. Tim stares at Stevo now I know that I'm kind of going back and forth on the statistics, thing I do think that statistics, are important but the, point of this quote and why, is it, range, true is that the. Consistency. Of these. Organizations, and the consistency, of those utilizing, and creating functions for the cryptocurrency will, come through in those numbers that you will research they. Are the ones that need to be creating, this proof the, other ones that should be earning your trust and, money. Before, that anything is invested, or anything is backed into a particular cryptocurrency, if you haven't researched the project, or research the project if you think the project has longevity and has use, invest. And, you would, like to invest in it then invest in it but, ultimately you, need to be the one to make that decision nobody else can make that decision for you we live in a world unfortunately, right now where, personal. Responsibility, sometimes goes out the window and investment. Much like anything, else is entirely, personal, responsibility. The, beauty of this market is it as opened, up investment. To those that have no history of investment, but that is both it's, a double-edged sword that's, both a great thing and a terrible thing the great thing is it means that people who have a general, knowledge and want more information, and want to become involved it is very easy for you to purchase cryptocurrency, and become a pilot market, but at the same time it also means, that you have no.
Appreciate. Or a lot of individuals may have no appreciation or longevity for, how stocks, and exchanges. And, general. Investment works as far as patience goes and it. It's all good and well for me to say that because, I have been lucky enough to be involved with stocks and bottle I should say like if I have personally, been involved with stocks and bonds and, looking. At future investments, for a quite a substantial amount of time but. The one thing that people lose sight of is it's all good and well to say that it's just a number on a screen but as you see that number drop lower and lower it can be difficult as you see the number drop higher or go higher and higher it can also be difficult just the opposite direction it's just ultimately if, you have done. Your research and you know what company, that you're investing in within. The stock market if you know what, cryptocurrency. You're investing in within this marketplace, and what, teams may be utilizing, that whether that be a Terrax with the tron foundation, or whether that be X up here with ripple or whether, that be. Xlm, with the stellar foundation. It's. All just entirely dependent, on the research that you've done as to how your confidence, develops and how that holds over time when, that market starts to slip if you know that there's a real use case he's not going to worry you it's not going to bother you to the same extent to if you haven't done your own research and you're basing it on. Hope. And a. Hope alone investment. Is logical, investment. Comes down to if you. Are, investing in a an actual, real use case real-world. Tangible. Thing that is going to change something, you, are investing, in the right thing the same things being said I've been seen with things like Apple and Microsoft as, organizations. The, same thing, can. Be said about any number of stocks and commodities from, the past the, main difference is we haven't we've never had anything like crypto currencies and that, is although, their use case may be pushed by organizations. They're not a representation, of stock within those organizations but. If, you see them creating, real value for that token, you can rest assure that holding, that token is going to be good for you in the long term it's, really a bit, of a mixed bag but that is. How it all really comes together, the. Next is get, your cryptocurrency off exchanges, whether, that be with the Nano x the nano s or in. The, description of all of my videos I provide, a link on how to build your own cold. Wallet as, well as how to create encrypted, Drive and all those sorts things make, sure you get encrypt currency off the exchanges, because as this goes up in value you're gonna want to keep these. Exchanges. Honest and unfortunately. It could be fractally, traded to a point where, they are selling more cryptocurrency than actually have in reserve which could lead to them not paying out you. Could be more susceptible to hacks all those sorts things into their systems than your own it is, just a very good idea to keep your cryptocurrency, under your control now. The. Final thing that I'll go into which was that quote I was talking about so what I said to the Exile pizu because I had to pose the question it, just, was. A really burning question in. My mind and that is is. The. Community and the world so short-sighted.
That. There, isn't a realization. That. Cryptocurrencies. As a whole. Need. To have a real-world use case outside. Of just being an exchange. Of value that, is exchangeable, within a marketplace if, your entire purpose and use case is to just, replace money, there, needs to be an advantage over money so, unless you either serve, up that same purpose as money in a better way or also. Utilize, a token, or currency, for, a greater purpose like XRP with its system like Tron with its system like xlm, with its system, then. There, likely. Isn't, any long term system. Or longevity to. Your, staying power because being, legal tender is. The. Type of thing that has already been held there's, already being created, and things like stable, coins can handle that direct, hold, against. Those currencies in. Order, for something to increase exponentially, in value in order for crypto currencies to hold true and change, the technological, world there needs to be a purpose, for them there needs to be a reason they exist and there needs to be something that sets those projects aside from the other projects before, you should in. My opinion take. Them seriously before, you should really consider what your options are in whatever you want to even continue reading more let alone put money into these systems, now. Legal. Tender is actually one of the things that got brought up in a Twitter conversation between. Brady TIFF. And myself which. One. Of the massive things with legal tender right now his government's print as much as they want and then utilize it to support the private sectors legal. Tender as a whole is just any currency u.s. dollar Australian or whatever it may be the. Real. Use case. Or something like XRP as a token as a bridge currency, to settle liquidity. Can. Buy, the complement or replace these systems now there's speculation in both ways whether there's gonna be real one world currency or whatever, it is the per point, and the reason that I see so much longevity, for XRP specifically, is it. Doesn't need to replace the system it. Can tie in with the system to make the system better and you can keep these legacy, systems and yet. Speed. Them up and bring them up by, utilizing, these api's, to tie in of the old legacy software, systems into these new bridges, as well as creating, real world liquidity, in the first instance that goes beyond borders it goes, to these. Regulated. Market places once regulation, has been ensured. And. Creates. Real-world, settlement. Value within a liquidity pool so I. Do. Want to thank everyone for tuning in if you like my, content please hit like if you know someone else who may like it please share it as always. This is aa script o telling you what's up from, Down Under.