What is Riplle?
#1. What is Ripple?
Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system that’s still in beta. The goal of the ripple system, according to its website, is to enable people to break free of the “walled gardens” of financial networks – ie, credit cards, banks, PayPal and other institutions that restrict access with fees, charges for currency exchanges and processing delays.
#2.According to is OpenCoin, the company behind ripple, the currency addresses the need to keep money flowing freely. A company blog post titled “Ripple and the Purpose of Money” gives a brief history of money and its transportability, and points to the frustration of having banks and other institutions impede the transfer of funds with transaction fees and processing delays. The goal of Ripple, it says, is to build on the decentralized digital currency approach set by bitcoin and do “for money what the internet did for all other forms of information.”
#3.Is Ripple like Bitcoin?
In many ways, yes. Like Bitcoin, Ripple’s XRP unit is a digital form of currency based on mathematical formulae and has a limited number of units that can ultimately be mined. Both forms of currency can be transferred from account to account (peer-to-peer, or P2P) without the need for any intervening third party. And both provide digital security to guard against the possibility of counterfeit coins.
#4. Does that mean Ripple is a Bitcoin rival?
Ripple positions itself as a complement to, rather than a competitor with, Bitcoin. In fact, the site has a page dedicated to Ripple for bitcoiners.
The Ripple network is designed to allow the seamless transfer of any form of currency, whether dollars, euros, pounds, yen or bitcoins.
“Ripple will open up many more gateways for bitcoin users and easier ways to bridge bitcoin with the mainstream world of finance,” says Stephen Thomas, a senior developer for the ripple protocol and a bitcoin advocate.
#5. How many Ripples will there be?
The company plans to ultimately create 100 billion ripples. Half of those are to be released for circulation, while the company plans to retain the other half.
CONCLUSION:
I WOULD INVEST ON RIPPLE BECOUSE:
1, "THE BIG TREES ATTRACT THE WIND" - When we talk about MONEY, we think about BANKS straight away. So banks are the big trees on this case in the currency market. Unlike other cryptocurrencies in the market, Ripple really spends time to focus on building a strong foundation & relationship with all the BIG GUYS which are the BANKS to settle their currency & get approval first before focusing more on individuals. And then as a result of it, all the small individuals & people like us will follow the BIG TREES by default. This is the RIGHT way to build. SLOW at the beginning but FAST & STABLE in the end of the game :) + Just like when you build a building, the first few years, we focus on building strong FOUNDATION, and then when you have a strong base, you can put up all the other things such as: windows, toilets, painting, interial....e.t.c... During the time of building the foundation, nothing much you can see happening but it takes the longest time to build until it's done and the rest only take few months to finish off the building. SLOW to build a strong foundation but FAST in the end. I see Ripple is using the same this fundamental to win the game with other competitors.
2, "The price goes up & down everyday but the MONEY is in the LONG-RUN". Same in the stock market, there are always up & down in prices everyday because of many reasons, but the good companies which have good VALUE products, good management teams, good LEADERSHIPS...e.t.c. will stay & rocket in price & sustain it. So don't focus too much on the SPEED of the price, but focus more on their true VALUE. This is what I believe in Ripple with what I see their team & leadership so far. The bigger the problem that you can solve for the banks, the bigger the pay cheque. I believe Ripple is the only company can solve this cross-border payment system between banks the best more than anyone in the market. So they will be the WINNER at the end of the race.
3 The worst thing can happen is that XRP stay the same as price right now or going down more doesn't make any difference for me. But think about what if the BEST thing can happen, XRP will go up to $1 or more in value when all the banks use it, I will get a times multiply in return from my investment. Sacrifice some money to get on the train early is better than suffer the PAIN OF REGRET :)