Value
To kick this off, like most people I am not an expert when it comes to blockchain and cryptocurrency. It's just really complicated, mostly abstract and technical. So bear with me while reading this article. There might be some things I get wrong and this article is by no means complete. Feel free to correct me in the comments :) What I do think to understand is that the value of a coin is connected to its day to day use. When it comes to cryptocurrency this use often is connected to a certain application of the blockchain technology.
STEEM'S value
This is one of the reasons STEEM has its value. People keep using Steemit, want to earn more by posting on the platform and demand is created. It is its own little universe where demand will never cease to exist as long as people are using the platform. Really smart thinking in my opinion.
What makes XRP valuable?
Now let's talk about Ripple's XRP. Again, I'm not an expert, especially when it comes to Ripple because its technology and application is way more complicated. But there are a few reasons why I believe Ripple's services will change a lot in the world and will bring the value of XRP up in the long run.
The problems Ripple solves
The products and services Ripple offers are focussed on banks and companies making a lot of international transactions. Everyone knows time is money. And when you make thousands of transactions a day as a bank, you want this to go fast and without time consuming hassle. This is one of the problems Ripple solves."Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts."One of the problems banks and also crypto traders encounter is high transaction fees. It basically sucks when you want to make a transaction with the goals of making profit and a part of this profit evaporates in the fees. Transactions made using Ripple's technology are very cheap and very fast. Note that this technology can be used for ANY currency. The goal is even use it between currencies."Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement."
Benefits of real-time use
It is clear that Ripple solves issues that are very important in global trade. These issues cover all currencies and all countries. In their technology of solving this issues Ripple uses XRP. So for as long as their technology is being used by banks and companies XRP will have value. And the more banks and companies will use Ripple's technology, the bigger the demand for XRP and the higher the value will get.The beauty is that Ripple's technology isn't just an idea or a startup without any customers. Ripple is up and running and working with a lot of banks worldwide.
Read up!
As I said, I'm far from being an expert. If you want to read more about Ripple and XRP be my guest and read the articles below.
"What is Ripple?" by Tiffany Hayden (@haydentiff).
All crypto currencies can be hard to understand. How do they work? What's the technology behind it? What creates its value? Because of Ripple's uniqueness its just a bit more complicated. Tiffany does a great job explaining it in her article. Hit her up on Twitter if you have any questions: @haydentiff
"The Tumultuous Rise of Ripple’s XRP" by Aman Trivedi of LTP.
Yes, at the moment XRP is way down, together with a lot of other alt coins. When Bitcoin settles down from its major bullrun these alts will probably rise again. Aman Trivedi takes a look at Ripple's history and what XRP has done since it has launched. Great valuable knowledge for the future to come.
Just a little bit about myself.
I started to share my thoughts and stories on Steemit because I have a deep passion to inspire people and make them think. I've always found inspiration in stories of other people's experiences and I love to share my own experiences on what I discover in my life. I hope some people might find some inspiration in thema and will help them to go further in life.If you liked this story please consider upvoting and following me. It would really help me to build a community of like minded people that motivate each other. Also I really love to hear your thoughts in the comments!I wish you well!Love,Koen Folkerts
Products I like to use :)
Blinkist
They offer complete summaries of thousands of books. For me it is a great way to get the main thoughts of a books that interest me, and when I really like it, I buy it :) They offer a free trial and after it ends you get a free book every day.Check out the following link to get your free trial: https://goo.gl/Q7n5EA
Genesis Mining
Genesis Mining offers cloud mining so you don't have to go over the hassle of buying and maintaining your hardware.
At the moment they offer contracts for Bitcoin, Ether and Monero. And it's possible to allocate your hashpower to other coins.
Check out https://www.genesis-mining.com and use code: "P7BrEL" to get 3% of when buying your hashpower.