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Can Ripple (XRP) replace the dollar?

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Ripple XRP
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When the CEO and founder of Ripple, Brad Garlinghouse was asked by her mother (who lives in Kansas) that what he does, he was at pains to go in detail what he and Ripple (XRP) sell. He simply answered that he sells software to financial institutions and banks. Simple, right? Well, not as put. Most financial services startups fall into one of the two sides: those who want to save themselves from banks and those who want to compete with banks. Ripple (XRP) on its side is a rare exception; it wants to do both.

Ripple (XRP), a transaction protocol and platform that is designed for remittance and coinage exchange, was developed with the aim to make online cross-border remittance instant and almost free of charge. Although new in the cryptocurrency sphere, Ripple has more than 100 global financial institutions, online payment service providers, and banks that have adopted their platform into their systems.

Value of Ripple (XRP)

Being the virtual currency of choice for financial institutions and banks, Ripple is without a doubt one of the most stable virtual currencies in the world today.

Since its entry to the stock exchange, XRP has been struggling to hit impressive prices, During the first and second quarter of 2017, Ripple’s value started to soar after hitting an impressive $0.4 per coin, after a short while Ripple prices fell by more than 50%. Afterward, Ripple (XRP) has gone through a hasty price surge to $3. The digital currency trades at $0.53998 currently; it increased in value by 1.79% in last 24 hours.

History of Ripple

Launched by Ripple Labs, a California-based company in 2012, Ripple has become a model for several other payment systems. With a platform with an open-source solution and a code that is publically available, the Ripple platform consists of decentralized personal computers same as Bitcoin platform. There is no designated server in place to govern and register individual settlements. The platform verifiers with personal computer software connected to the Ripple (XRP) network.

Ripple vs. the USD

What are the dollars in your wallet? It is a government printed paper that has been decided by the Government to be the legal tender for individuals as well as businesses to use to pay for goods and services. This government print is also known as fiat currency; this fiat currency is money that is used but not always backed up by any physical paper these days.

Government-issued cash is not fixed at a price by any principle standard unless the argument is that the US dollar is the principal standard.

Today, the dollars in your wallet was worth less than five years ago, and six years ago they were worth far less than what they were worth twelve years ago. Time diminishes the purchasing power of the government print in your wallet.

In the last few years, virtual currency or cryptocurrency has been revolutionizing how we exchange value. It is more like how Gmail disrupted the post office breaking the value chain and lifeline of post offices by making stamps to send letters irrelevant and a thing of the past.

Cryptocurrencies and more so Ripple (XRP) because it’s the chief digital coin involved in financial matters is a bank-less bank that is undoubtedly disrupting the economic front and the influence of the US dollar.

It will take the time. But as the time passes, we can expect Ripple replacing the US dollar to become the preferred medium of exchange by individuals, businesses as well as a financial institution in their everyday transactions and how they transact with each other on a daily basis.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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