Ripple Continues to Sign New Customers, Claims CEO Garlinghouse

The US Securities and Exchange Commission (SEC) slapped a $1.3 billion lawsuit on blockchain firm Ripple for soliciting investments for an unregulated securities offering. However, according to Ripple CEO Brad Garlinghouse, the firm continues to grow strong and has signed up 15 new customers since the lawsuit.

The new letter reveals customer interest

In a new letter public yesterday, Garlinghouse wrote,

“2020 was a banner year for Ripple, despite a disappointing ending related to U.S. regulation (understatement?). We processed millions of RippleNet [transactions], grew [on-demand liquidity] 12x [year-over-year] and signed 15 new customers after the SEC complaint.”

Despite the lawsuit, the firm added new two new customers per week on average. The chief executive said that the firm has more customers than ever before. He said that RippleNet’s adoption is being fueled by increasing demand for payments interoperability and digital financial services in the Asia Pacific region. The PSPs, fintech, and SMEs in the country are demanding such services.

He further noted that the number of deals signed in 2020 was 80% higher on a year-on-year basis. The network also witnessed a 1,700% growth in transactions. The firm also added new members to its staff as it continued hiring during the pandemic. Garlinghouse said that the firm continued to add top talent from firms like Apple, Amazon, PayPal, Twitter, and Tesla to its roster.

The lawsuit problem

The SEC filed a lawsuit against the firm and its top executives on December 22, claiming that it had raised over $1.3 billion from the public via an unregistered securities offering. Since then, several crypto exchanges and funds have reduced their exposure to XRP, the native coin of the Ripple blockchain fearing regulatory action. The market capitalization of the coin reduced by a whopping 63% at a time when most altcoins are reaching new highs. The value of the coin has been on a downward spiral since then.

If you could only own 5 cryptocurrencies, which ones would you choose?

 

1. Bitcoin. It’s the king coin, the first coin and the one that institutional investors are buying up. This one is the most established and isn’t going anywhere.
2. Ethereum. A coin that’s so well established and used I don’t even consider it an altcoin. This smart contract platform hosts atleast 60% of the other crypto projects that we regularly hear about. We only need one crypto project running on this smart contract platform to go viral to make Ethereum a household name.
3. BAT. This is the token that runs on the Brave Browser. The Brave Browser is dedicated to saving you from unnecessary advertising and rewarding you for watching their ads. Most of all it blocks websites from tracking you. This is a browser everyone should use and consider. Most of all this token is a great opportunity for advertising and getting rewarded for watching ads. Take note that this token runs on the Ethereum network.

1. Divi Project. The Divi team is dedicated to making cryptocurrency easy to use and providing residual income. Their masternode system is set up with one click and instantly begins to provide a passive income in their native token. Most of all they are creating a cryptocurrency wallet that will be as easy and simple to use as Venmo. This is a crypto that will be easy enough for grandma to use once their new wallet is launched.
2. Cardano. I am not certain what will end up being the main smart contract system in the long run. It will probably be Ether but it could end up being Cardano. They have a great team and are careful with their development process.

If you are interested in buying many of these coins you should check out OKEx most of the coins I put on this list are available to purchase on this exchange.

CREDIT:  https://www.quora.com/If-you-could-only-own-5-cryptocurrencies-which-ones-would-you-choose

What is exciting about the Polkadot Altcoin (DOT)???

 Polkadot is interesting for 5 reasons

1. Their founder, Gavin Wood, is the former CTO and co-founder of Ethereum. Overall, they also are a very good team, probably one of the best in crypto on par with NEXO, VET, IOTA, ADA, AAVE, UNI, YFI.
2. They are good at marketing, not hype marketing, but real, native, sustainable and long-term marketing. New projects that want to build on Polkadot, have to raise Polkadot tokens from the community. That means, their community or their founders have to buy as many Polkadot tokens as possible, so that their project wins the auction. That way, only the richest win, but that’s how it works and that’s why the Polkadot price rises
3. They have very excellent technology, and scalability and decentralization better than Ethereum by running a nominated proof of stake (NPoS) with hybrid BABE/GRANDPA consensus in a Heterogeneously Sharded Blockchain
4. Communities on Polkadot govern their network as they see fit, and hold a transparent stake in the future of Polkadot’s network governance as a whole. Teams can customize and optimize their blockchain’s governance to their needs, experiment with new ideas, or swap in pre-built modules for faster deployment. Blockchain governance models can even be perfected and upgraded as needs and conditions change over time.
5. Unlike previous networks that operated largely as standalone environments, Polkadot offers interoperability and cross-chain communication. This opens the door to innovative new services and allows users to transfer information between chains. (see graphic below). It’s like being part of a secret club of other very smart and wealthy people.

Overall, Polkadot is like Ethereum, but with better marketing, interoperability, technology.

Here are the disadvantages over Ethereum

1. Polkadot has around 200x less adoption, more specifically Ethereum has 850 transactions/minute and Polkadot 6 per minute and inly 80,000 wallets compared to Ethereum’s 50 million
2. They have 10% inflation/year compared to Ethereum’s 2%/year
3. It’s also very unlikely that Polkadot surpasses Ethereum in adoption in this bull run

Conclusion

Polkadot offers a better and more integrated ecosystem than Ethereum.

It’s like Ethereum, but with all the flaws that plague Ethereum already fixed.

It also has the cleanliness and thoroughness of ADA while having the integratedness of Ethereum and some more.

This definitely puts ADA in a lot of trouble, because DOT seems far superior than ADA at this point and ADA is also lagging behind in adoption a lot.

I think DOT is the only real competitor to Ethereum at this point and also significantly surpasses QKC, ZIL, ADA, XTZ, EGLD. Those all have great tech, but DOT’s integratedness and marketing is significantly better than in those.

DOT also has better credentials.

Still, DOT also has a very high market cap already, so it’s not an investment that can give large gains.

However, most of all, investor tokens start to unlock from 18th of January from their public sale, which could trigger a sell-off.

If it falls by 50%, then it would be a really good investment.

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Can Bitcoin make you RICH??

Bitcoin can only increase by 6x from now from $42,000 to $250,000, because the maximum multiple per bull run has only been 100x from bottom to top and markets get less volatile the more they mature, so this time would probably only 50x from $3,100 to $160,000, maybe with some luck a 80x with institutional FOMO to $250,000.

This is a terrible return for crypto and it will take until late 2021 for you to make that return.

That means if you invest $10,000 in Bitcoin, it will only be worth $60,000 later this year at most. After taxes that is $35,000, so the actual return for Bitcoin is only a 3.5x. That’s a terrible return for such a volatile and risky asset and it can definitely not make you rich.

Even if you are already rich and have $100,000 play money available and invest that into Bitcoin, it would only make you $350,000.

Can Ethereum make you rich?

Right now, Ethereum is at $1,221. 2 months ago I said Ethereum will surely go to $20,000 and maybe to $40,000.

That would be a 16x return and a 32x at max. Can that make you rich?

If you invest $10,000 into Ethereum, it would be worth $160,000 later this year and $320,000 at most. Is that rich? Not really.

If you invest $50,000 into Ethereum, it would be worth $800,000 later this year and $1.6M at most.

CONCLUSION

Can you become rich with investing in Bitcoin? No, that time is over.

You could only become rich with Bitcoin if you invested back when it was worth $10,000 and you invested $10,000 into it. Even that will only make you semi-rich.

You could still become somewhat rich with Ethereum if you invest $20,000 now, which would return $320,000 to $640,000 at most later this year, but that’s it.

That all being said, you still should hold 30% of Bitcoin in your portfolio, because it gives you more stability and flexibility, but Bitcoin will not give you large multiples anymore.

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Is it Worth Investing Into Bitcoin and ETH Currently??

Usually market cycles in crypto have higher highs and higher lows. Probably lowest point of Bitcoin crash will be above latest 20k dream price.

Since a lot of institutionals are going into crypto right now - they will keep adding their money on all levels which will help to keep the price on the same levels.

It has a lot more potential for upside (for altcoins at least), Bitcoin already looking high, but we don’t know where it can go. The tech behind Bitcoin and opportunities is very strong and brings a lot opportunities. It will be undervalued under $1T of market cap which will bring Bitcoin to $50.000 and still will be low.

Ethereum and Litecoin just started their moves and I personally wouldn’t sell Ethereum or Litecoin for Dollars or other altcoins (unless you know something interesting that we don’t know). To me it make sense to sell some of Bitcoins for Altcoins right now, because THIS DOESN’T LOOK HEALTHY =D

But still has potential to go up and it might be just the beginning of a real growth.

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Daily market update: Bitcoin hits $40k, briefly flips TeslaTeam Luno

The price of bitcoin continues to hit new highs, bouncing over $40,000 like Tigger on a trampoline, before a sharp correction saw it crash $3,000 in less than an hour. 

You can’t keep a good cryptocurrency down, though, and the world’s oldest was soon back in action, springing back to around the $39,000 mark.

 This kind of volatility is to be expected in a bull market as people take profits – which might not make it any less nerve-wracking when it happens, but this is cryptocurrency and those of us who have been here a while have learnt to roll with the punches and see opportunities where we can get them.

 As always, stay safe out there – spend what you can afford, do your own research, and DO NOT GIVE YOUR PASSWORD TO STRANGERS ON THE INTERNET WHO PROMISE TO TRADE FOR YOU. DO NOT EVER DO THAT. 

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Disclaimer:

The content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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Ripple (XRP) is planning on opening an office in Dubai. How significantly will this benefit XRP?

Ripple’s plan to open an office in Dubai is another sign that Ripple’s networks will soon be running the settlements for financial institutions worldwide. Dubai now represents Ripple’s presence in another crucial monetary market. As stated in some of my other posts about Ripple there is very strong indications that Ripplenet will be the vehicle to solve cross boarder payments around the world.

This is significant because the UAE Exchange Group which had adopted Ripple to facilitate its cross-border payments back in August, makes it the largest UAE-based exchange to incorporate blockchain technology into its daily operation. The office and partnership gives Ripple a strong foothold in the Middle Eastern financial market. I always say if you want to know whats really going on take a look at whats going on behind the scenes. So now we can see Dubai joining the list of Ripple’s network offices located in London, Sydney, India, Singapore, Luxembourg, San Francisco and New York.

Huobi.com

Is it a coincidence that all these locations are in countries connected to the World Bank and the IMF? After years of slow transaction settlements and high costs of sending money especially cross boarder are we now to believe that SWIFT has all of a sudden come up with a solution with GPI? Really? The SR2018 document that outline the high-level Information of Standards requests by SWIFT somehow all look to implement changes that would integrate blockchain protocols that Ripple needs like open API.

Ripple networks could single handedly eliminate the entire archaic systems. But this will not happen because the Central Banks and governments (US) will not give up control (SWIFT is how they are able to enforce sanctions on other countries) and regulation (the ability to prevent money laundering, terrorist funding…yea yea yea protect us. But most importantly taxes).

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I am not an expert or a financial advisor so as always do your own research and hopefully I was able to provide avenues for you to investigate. If you found this helpful please feel free to share and give it an upvote.

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