Altcoins News
By James Thorp
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Seasoned analysts have to state that they would consider investors who decide whether to trade or not based on market dynamism to be just naïve.
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Important to note cryptocurrencies have seen worse pullbacks than the previous ones. There are experienced traders who know how to make good use of the dip and pump.
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Max Maher presents what he calls a holy grail Ripple (XRP) – the most comprehensive video on XRP. He claims it will be possible to understand XRP better than anyone else.
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What is it? Ripple is a blockchain based payment network. XRP – Ripple’s native token 7th largest crypto.
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How did it start? Founded by Ryan Fugger as Ripple Pay in 2004. Didn’t use any blockchain. In 2012 it was sold where it was renamed OpenCoin and added ledger technology.
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The Goal of Ripple is to “Be the crème de la crème system for bank to bank transfers.” They wanted to do this because transferring money internationally was expensive.
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How is XRP going to do all of this? XRP claims to do this by being the internet of value. It wants to basically become a place where people can instantly transfer eliminating the…
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Reportedly, since money systems are kind of dumb, this capability makes them more efficient, because the faster the processing times the better.
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Ripple is different than other coins and banking systems: It allows for transaction settlements in 3 seconds. 3 days for wire and 10 minutes for Bitcoin.
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Bitcoin is just a couple transactions per second. In a Visa system, it is 25,000 transactions per second and their goal is to reach the Visa level transaction.
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And, a drop is 0.000001 XRP. And, 10 drops is about $0.01.
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Where does the fees go when the transactions are done? They are burned. Meaning the coin is deflationary due to its fixed decreasing supply.
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The current supply is about a 100 billion coins. There are approximately 45 billion in circulation and 55 billion locked up in escrow.
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