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RE: Crypt0's News Live
So.. no one uses it and there are 100,000,000,000 of them, 2/3rds of which are controlled by the issuing authority . At $2.50 thats a market cap of 250 billion. Exxon would be pleased with those numbers.
Let me suggest an altogether simpler reason for the price rise. Noob crypto investors don't understand market cap, they see Ripple at under a dollar and think it can go to $15k like bitcoin, FOMO. This is just a pump, its not going to the moon.
When you say no one uses it, what is your source of information? They have 3 products in their portfolio, out of which 1 solely utilizes XRP tokens.
Also, I don’t think tokens which are not in the escrow is the right way to look at the market cap. If you drain the market with too much supply, the XRP price will plummet, which is why the escrow exists fundamentally.
Lastly, $15k is bullshit. I don’t think it makes sense. However, I would also not compare a decentralized currency with the market cap of a centralized corporation. If that’s the argument, nothing in the crypto space would make sense. The idea is to ride the boom till it lasts, de-risk your investments as and when possible and earn a better return than other avenues available for investments. Hope it make sense.
Ripple is just Swift or Visa masquerading as cryptocurrency. If you can make money out of it great, but as a concept Ripple is not what crypto is about IMHO.