What are people’s thoughts on XRP and ETN as XRP is pre mined and ETN isn’t but both serve as micro payments at the moment…
My understanding is that XRP is more used buy banks and the like, Lumens would be more of a direct competitor. However competition is healthy and as it has been said before the world is plenty big enough for coexistence of projects.
I think that Lumens will be out classed but Ripple is Bank Money Vs the People and the banks will want to win or it might just be a class of it’s own because of its own commerce.
Will XRP be forced onto the masses form the banks quicker than Electroneum’s movement can spread across the globe? I would say no.
Banks are like a huge plane in the sky with many moving parts that can’t easily be turned off and replaced while in flight. They’ll have to land to retrofit their engine while Electroneum is busy flying around dominating the market share of the unbanked like a behemoth before they clean up in the developed markets. This may be achieved big partnerships or an acquisition.
These are the answers I was hoping for!! Good analogies!!
No…apples and oranges. They can not be compared. One is FOR the banks (that probably won’t even be used by the banks themselves) the other is for the unbanked.
XRP is total trash (in my opinion) but will do well because of the bank money backing it. The reason for the big support is because it is least likely to fail for as long as fiat is relevant. It is nothing more than fiat in digital form with an unlimited supply mostly held by the bankers. People always talk about the utility it has (i.e. CryptoTwins), but to be honest I’m still trying to figure out what that utility actually is. I think the die hard supporters keep saying it has “all kinds of utility” over and over again because the way the world works is the more you say something the more it is true…right? You don’t need actual substance for statements anymore…until you do.
ETN is the complete opposite from XRP and will be used directly by people as a currency. Not a coin representing fiat. You can take that statement to the bank.