XRP is not mineable yet is not a token on another network but rather the coin of its own network centrally controlled by one corporation intended for profit, manipulated and grants Ripple (the company) access to freeze funds and fully control the system. Blatantly Ripple has shown that XRP is not used in their solutions being marketed towards banks currently and still does not have XRP being used by any major entity that identifies as a bank.
A centralized cryptocurrency does not solve the problems of the financial system in regards to the benefit of everyone. It merely provides a bit faster and a little more secure digital avenue already used by these institutions. Instead they have also succeeded in convincing “investors” that they can become rich like these banks are by joining “their system” early, before it starts being used.
My belief is that they have no intention of using this system except for possibly the biggest “pump and dump” scam this market has seen yet which is quite the feat I might add. Perhaps an eventual massive dump of this token, as it’s not being used for anything, and moving those billions of dollars straight into an alternative cryptocurrency they see taking a hold to secure a position in it the only possible way to do so. To buy in.
Banks are the enemy. If you don’t realize that now you haven’t been here long enough. “It’s a big club and you ain’t in it.” -George Carlin. There’s a new club forming and they are trying to trick you into joining theirs again. Don’t fall for it.