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Chasing the Micro Cap Gems #1: TRIAS aims to bring Trust in Technology

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Micro Cap Gems

Chasing the Micro Cap Gems

ALERT:  Chasing the Micro Gems series aims to dig up the projects that have a low market cap, decent team and potential of an explosion in value. These projects pose a high risk-reward ratio so please DYOR before investing.  We invest a small portion (usually $100 or less) as a gamble on these projects.  Do what fits you after DYOR.

If you want to be notified every time we post a new Micro Gem, click the bell icon on this page.

Top 5 Cryptocurrencies 2020

Tri means three.  

True to its name, TRIAS is aiming to bring a time tested ‘separation of power’ concept to the technology space to make machines trustable.

That is quite a heavy sentence to grasp and for good reason.

We are reviewing TRIAS (TRY), which stands for Trustworthy and Reliable Intelligent Autonomous System, as part of our Chasing the Micro Cap Gems series.

What is TRIAS?

We are heading towards a world that heavily relies on technologies like Cloud Computing, Big Data, IoTs, AI, autonomous systems, Virtual Augmented realities, etc.,  

The more we rely on the technology in our everyday lives the more important the aspect of ‘Trust’ becomes.

The question is a simple one:  How do I trust these systems that I have come to rely on?

The answer, however, is not that simple.

How do you integrate these seemingly different technology infrastructures to create Trust?

TRIAS hopes to emerge as the answer to that question.

Trias is “an all-platform-supported (Server, PC, Mobile, IoT, etc.) native-application-compatible smart contract execution platform, development framework and collaborating ecosystem. TRIAS aims to define a new-generation all-platform-supported public chain system. Trustworthy and Reliable Intelligent Autonomous Systems make people trust in machines.

TRI Structure in TRIAS

Trias LogoTRIAS brings one of the time tested concepts from the real world to the technology and that is: separation of powers: Execution, Legislation and Judiciary.

In TRIAS, these 3 elements are handled by three subsystems:  Leviatom, Prometh and MagCarta, respectively.

From there one-pager, here is a snapshot on each of these subsystems:

Leviatom is an integration of Trusted Execution Environments (TEEs) and Heterogeneous Consensus Graph, a graph computing algorithm similar to Hashgraph or DAGs. It can serve as the underlying ‘-1 layer’ for other public chains, including Ethereum and Hyperledger.

Prometh is a combination of formal verification and DevSecOps methodologies to achieve traceable and verifiable general-purpose software development.

MagCarta is a consensus-oriented programming paradigm to achieve embed and self-defined consensus strategy for high-order enterprise DApps.

How does TRIAS stack up against our Crypto pick framework?

Our readers know that we apply a simple framework to see if a project has a good chance of succeeding.  This criteria includes:

  • Problem/Solution 
  • Team
  • Partnerships
  • Addressable Market Size
  • Revenue Model

You can read the entire framework to apply to your favorite projects here:  How to pick the Best crypto project?

You can also get the top 5 Cryptocurrencies we picked using this framework, for FREE (for a limited time). 

Back to TRIAS.  Let’s see how it stacks up on our crypto criteria framework.

Top 5 Cryptocurrencies 2020

Problem

The problem of trust in an automated world targeted by TRIAS is ginormous. The space could easily accommodate many players.

Ultimately, even solving the problem of trust for one or more verticals of the technology could prove to be quite lucrative.

Team

This team reminds us of the Cardano crew.  

If the information on the website were to be trusted then the team details are 

quite impressive.  Even more so for a coin with such low market cap.

Trias team

Anbang Ruan, CEO, has Ph.D from Oxford and has over 10 years of experience in systems security.  

Ming Wei, CTO, too has a Ph.D and has considerable experience in distributed cloud development.

Other team members are well qualified as well, as per the whitepaper.

Partnerships

Octa Innovations LTD., and Peking University have formed alliance with the TRIAS project.  Given that the mainnet is not launched yet, we expect more companies to come onboard after the mainnet.

Addressable market size

The market for Trust across multiple technological domains is a big one. We do not have concrete numbers across all the industries that TRIAS wants to impact, however, we suspect it will be in the order of multi-billion dollar business opportunity.

Revenue Model

Team has locked the tokens allocated to the TRIAS team and the total tokens will only be released by January 2024.

We expect that the increase in the value of tokens due to traction is what will generate more value to the TRIAS project.

At this point, we have not seen a recurring revenue model outside of tokenomics. 

Based on the benchmarking of this project against our crypto criteria, we give it a solid 7 out of 10.

In our view, anything at or above 7 is a good project. Whether the project lives up to its potential is something we have to wait and see. 

We cannot help but compare TRIAS with Cardano

Similarities abound between TRIAS and Cardano in terms of the evolution (not the solution), few that we found striking are:

  • Brainy bunch

Similar to Cardano, this project purports to have PhDs, Graduates and other nerdy bunch.

  • Token Supply

In line with Cardano’s, the token supply is in billions (although less than 25% of that of Cardano).

  • LONG Road Map

Cardano ran one of the longest ICOs of its time and then the tokens were not released for a whole year.  On top of that, the project itself has been in works for years. TRIAS road map and timeline reminds us of Cardano in terms of the implications, vision and how far it is drawn out.

  • Grandiose vision

Cardano wants to be the best smart-contract blockchain platform for everyone to use. TRIAS aims to be the trust layer for all the technologies that are shaping our world right now.

  • Mythology references

Cardano is notorious for using the mythology figures for their project names. TRIAS seems to be following the suit.

What do we like about Trias?

Weekly updates & website: The website is extremely professional and the team strives to provide weekly status reports through their blog.

Concept: Extremely relevant concept and existing and latent demand brewing in the world right now.

Team:  One of the more impressive team structures for a small cap coin.

Low market cap:  The project was hovering around $3 Million at the time of this writing.  A $30 Million valuation is quite low if TRIAS ends up achieving its goals.  $300 million will be quite a low number if TRIAS pulls off its ambitions.

Potential Binance (and other) listings:  An attempt to list on Binance has already been made.  We expect future attempts to get listed on Binance will be in works.  It is already on KuCoin which is a good exchange as well, in our opinion.

Top 5 Cryptocurrencies 2020

Red flags for you to consider

Couple of things you need to consider before jumping in.

Trading volume (or lack thereof)

As cool as TRIAS looks from our point of view, if the trading liquidity is gone then there is a chance that project might die with it.  

However, this is also the easiest thing to overcome as the awareness in public or listing on reputable exchanges could bring volume in no time.

Lack of social following

For a project that is so ambitious, the social media following is quite sparse to say the least.  

Only saving grace to this pet peeve of ours is their Telegram group of around 5000 (4500 on one channel and another 500 on their announcement channel).

Things to consider before investing in micro cap gems

Things that generally apply to the crypto market are true to micro cap coins as well, only more amplified.

For instance:

  • Loss of capital: Like any other crypto project, you could lose 100% of your investment.  That is why we always position our investments to the point where we will not be devastated if we lose it all.  We recommend diverting some of the ‘avoidable’ expenses (going out for dinner, watching movies in theaters, etc.,) so that the loss doesn’t hit you too hard.
  • Lack of liquidity:  Micro cap coins lack liquidity which means that exchanges could delist them for lack of trades and you may not have a market to sell your coins later.
  • Manipulation abound:  When the market cap and trading volume are low, a few handful players could manipulate the entire market (including deploying bots) and when real users come to trade they could wipe them clean.  Beware.

Conclusion

In our opinion, we think TRIAS has everything we like to see in a micro cap gem: good concept, team with potential, long-term vision and relatively low market cap.

There is no guarantee that this will be a hit, however, if it ends up executing on its roadmap – then – this could prove to be a great find.

As we said earlier, we do not bet big bags on micro cap gems.  You do what fits your investment strategy.

Source: https://www.trias.one/whitepaper

Official website: https://www.trias.one/

Ticker: TRY

Thank you for reading and sharing this article. We appreciate you.

Also read:

Chasing the Micro Cap Crypto Gems #4 – Skrumble Protocol – Why We Changed Our View On This?

Chasing the Micro Cap Crypto gems #3 Phantasma is Aiming to do it All!

Chasing the Micro Cap Gems #2: aXpire, a Blockchain Business with a Working Product

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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CryptoSpace

3 of Our Favorite Ways For Passive Crypto Income

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Passive Income

What is your crypto endgame? 

Ours is simple.

  • Make decent profits in the coming bull market (and not repeat same mistakes as we did in 2017)
  • Invest the profits into assets that generate passive income
  • Continue to learn, grow, invest and repeat

While thinking about our endgame, it struck us that we don’t have to wait for the market to take a bullish turn or to sell to convert gains into passive income.

We can earn passive income while holding crypto and not worry about the market ups and downs.

We are sharing the ways we found to earn passive income in the hope that it will give you some ideas.  

Disclaimer:  We are including referral links below (but we are not listing these because of referrals).  We have owned the below projects for quite sometime now. Just because we think of these projects so highly do not guarantee results. DYOR.

1. Earning interest income by simply holding the crypto

US interest rates are historically low now.  

We have speculated that we will see negative interest rates once Digital Dollar becomes a reality.  

There is really no good way to create a sustainable economy without bringing negative rates and forcing people into the system.

While you cannot make any real interest income from your savings account in the US (and most western countries) there are ways you can earn interest on your cryptos. 

Here are two we come to rely on: 

BlockFi

Blockfi

BlockFi provides the wealth management products cryptoinvestors need, all powered by blockchain technology.

Celsius

Celsius Network logoCelsius Network lets you buy coins, earn interest on your crypto and instantly borrow dollars at 1% APR against it. No fees ever.

2. Cryptos that actually pay you income (like dividends)

While earning interest on your bitcoin and USDC deposits is awesome, there is yet another way that is better, in our opinion, than holding crypto in the accounts.

KuCoin Shares

KuCoin is one of the popular crypto exchanges in the space.

We have been using and talking about Crypto for years now.  What we particularly like about KuCoin Shares (KCS) is that it pays the profits generated by the exchange back to KCS holders in the form of KCS tokens.

For example, if you held a 1000 KCS on the exchange, you earn about $.80 cents to $1, depending on the trade.

It might not sound much to you but think about it.  

1000 KCS cost you around $1300, and 80 cents a day translates to $292. That is about 22% interest per year.

That is even before compounding the KCS you receive that in turn increases your share in profits.

Ontology

Ontology provides ONG (Ontology Gas) for holding ONT tokens in a ONTO Wallet.

3. Free Crypto is still income

Earn.com

How to earn on CoinbaseNow acquired by Coinbase, Earn.com gives you an opportunity to earn crypto by simply responding to quiz questions.

Last rollout had over $180 in cryptos.  Even now, there are over $100 available in earnings for doing courses (and completing quiz).

You can register here.

4. Bonus

Big things could be coming or a total failure. Big industry, great team, actual products, good market, amazing addressable market size.

PundiX

Providing a borderless payment ecosystem beyond fiat.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Chasing the Micro Cap Crypto Gems #4 – Skrumble Protocol – Why We Changed Our View On This?

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Micro Cap crypto Gems

The tricky thing about finding micro-cap gems is that we have to find something that fits our crypto framework criteria and still be under $10 Million in the market cap.   

The project that we picked today had a few flags while we were researching and we promptly reached out to the team to clarify.   

You will see our initial views/opinions based on publicly available information and the response from the company.

What is Skrumble Network?

What is Skrumble NetworkThe core concept behind Skrumble Network is that when data is stored in one centralized location (like a Server) it poses the greatest security when it gets hacked.

However, if your data is fragmented and stored on decentralized servers, even that particular decentralized server gets hacked, your data is still secured because the fragmented piece that got hacked is usually incomprehensible.

Skrumble Network helps decentralize the communication protocol by using Blockchain technology.

Skrumble Network helps facilitate File transfers, secure messaging, Video streaming and calling.

how Skrumble network works

Whitepaper describes: “Skrumble Network is a secure, communication-centric blockchain, decentralized communication application and a communication layer for developers to add into any application. With no middle entity or centralized server host in between to censor, block or manipulate any data, Skrumble Network will enable open, global private communication and transactions that are truly community owned and operated.”

One of the distinguishing factors about this project was that it was initially developed with an established company behind this crypto that has been in the business for more than half-a-decade and they know how to deliver a product that is used in the real business world.

Applying our framework

As is our custom, let’s apply the CryptoTapas framework around this project.

Problem

The security around our communications is as old of an issue as the internet itself.

This concern has become more pronounced in the recent years with the news of hacks and breach of confidentiality, and utter disregard for privacy.

Now that COVID has completely changed the way we work (especially working from home), the security around communications is now taking the spotlight again.

If Skrumble Network addresses this issue in a novel, scalable and easy to implement way – it might have a great chance at this massive problem.

Team

Eric Lifson seems to be working on Skrumble Network for over 3 years now, and he was quite accommodative when we reached out to him with questions. 

When we looked at the team page on the Skrumble’s website, with the exception of three members, everyone who is listed on their team’s page is no longer with the company (some since July 2019) and this disappoints us that they have not updated their own team’s profile.

Skrumble Network team

More importantly, if everyone jumped the ship, who is behind the project now?

The flagship app on Skrumble Protocol, GetAlly, shows the team members that are also associated with Skrumble Protocol, however, most of these team members are no longer with Skrumble.

Question for Skrumble Team: Who is working on this project? What is the current team structure?  

[Update: The project informed us that all these people have at one point worked on the project. While the team has downsized to a team of about 6 core people, SKM has a strong brand and past and present members prefer to maintain recognition of their achievements. Moreover, several are still contributing, just not on a full-time basis. Any who do not, the team offers to remove them at any time. This is now more in line with how ongoing DAOs (Decentralized Autonomous Organizations) seem to be operating.]

Partnerships

Skrumble Network’s Ally dApp claims to have a 150K user base.  They also teased about the upcoming partnership to take the DeFi initiative forward.

We actually like the advisor profile associated with the Skrumble Network project one of whom is Anthony Di Iorio, co-founder of Ethereum.

Apart from Anthony, Skrumble has Jeff Pulver who is the co-founder of $3 Billion communication company, Vonage.

That is quite a respectable name association with Skrumble.

Question for Skrumble team: Have there been any changes in the Advisor group (similar to team changes?).

[Update: No. We also still Jin Tu – former CTO of Aion, OAN boardmember and Cofounder of Axis DeFi, who is an Expert Blockchain Architect. 

Redouane Elkamhi,
PhD, Associate Professor at Rotman
Leader in Fintech & Blockchain at the University of Toronto 

Kevin Hsu,
Founder Partner at BlockVC
Investor in Ontology, RSK & QTUM 

Jiangang Wu, PhD
Co-Founder of Fusion
Professor of Finance & Blockchain Economics at Shanghai University] 

Addressable market size

Secured communications, whether it is simple file sharing service or video streaming or chatting is a huge market.

It has only exploded in value in the past few months when people were forced to communicate over the internet instead of in-person meetings.

This trend will only become the norm as the internet becomes more accessible (Elon’s Starlink reality) and companies start restricting travel.

File transfers, messaging, video streaming and calling verticals market size is in $100s of Billions, if not trillions.

Revenue model

Question for Skrumble team: How does Skrumble Network generate revenue?

[Update: The core problem for SKM has actually been the volatility of the utility token model in general. We will address this in more detail later.]

DeFi + Communication?

Skrumble Network’s official blog was silent since October of 2019, although remained very active on Telegram, and resurfaced with an announcement that Skrumble Network is going DeFi. 

The announcement about a partnership with Juggernaut reads “unique custom financial modelling and DeFi deployment, it can enable token projects to have real, sustainable, and modular business models built around their utility model.”

Is this another attempt to exploit the market craze around DeFi?

We asked the team this question directly.

Skrumble Network Roadmap

Question for Skrumble Network Team: What drove this decision to look at DeFi and what unique attributes do you think will help Skrumble succeed in this space? 

How does this Juggernaut help Skrumble’s vision?

[Update: Really, we see two sustainable business models so far in the space – 

  1.     platform tokens (for exchanges) with only room for a few like Huobi or Binance
  2.     DeFi due to the collective staking, lockup and general collateralization of new directions and ability to focus on new industries.

A two-token solution is the only way to do something meaningful and sustainable in my opinion with a utility token. One for utility and one for profit sharing. They are missing the sustainable business model. They don’t have enough usage to reach a critical mass and the DeFi synthetic at least has a chance to have something closer a traditional ‘share’ balanced approach. 

Most proof of stake with inflation models will reach a point where one has to ask where any utility token can be able to sustain beyond initial interest 

This is why we must change the game. 

Basing anything on a pure utility token that fluctuates is basically unsustainable. This is because when people are in the money they just leave to the next hot project. People who operate in DAOs want something more stable to base their livelihoods on. They want something closer to USD that can be more stable and scalable. 

This is an overview of how we see DeFi becoming a crucial component going forward:https://medium.com/juggernaut-defi/skm-partners-with-jgn-to-develop-first-defi-communication-network-20ba9a3ccf38 

What do we like about Skrumble?

We like the fact that Skrumble Technologies has been a technology company since 2014 and it has leveraged some technology and strategic guidance from them in their initial inception.  It has real business with actual clients in the market.  How many of the 6500 cryptos can claim that? 

Additionally, the company has patents to its name and helps them deploy proprietary solutions in the market. 

In addition, we like that the co-founder is quite active in working on building Skrumble Network up. 

You can go to the Telegram and see him responding to the questions posed by the community. 

When we reached out to Eric, he provided a quick ‘highlight’ of Skrumble for someone who is new to the project, we have reproduced what Eric shared with us below (we have not independently verified this information): 

Skrumble Network is reshaping freedom of speech and data privacy with a communication-centric blockchain due to our unique PoA architecture, formidable global community, robust proprietary chain, accomplished advisors, and top-tier exchanges. 

🤝PoA consensus model: Aligning incentives and encouraging active community participation

💪Innovative chain and base layer: Enabling other dApps to be built on top of Skrumble Network. First dApp- Ally already has 150k+ users with more coming soon

🙋🏻‍♂️Industry-leading advisors: Including Anthony Di Iorio (Co-Founder of Ethereum) and Jeff Pulver (Co-Founder of $3B Vonage), Jin Tu (CTO of Aion), Redouane Elkamhi, PhD (Lead of Fintech & Blockchain at the University of Toronto), Kevin Hsu (Partner, BlockVC)

🥇Trusted and premier exchanges. Won Huobi FastTrack vote last week with over 40 million votes. Counting Gate.io, Huobi Global, Bittrex, LBank, Coinbene etc as our exchange partners

🎖Ranked by ICO Drops for both top 5 global community and ROI in Q22018

🗳Won Huobi FastTrack with 40M+ votes on June 27 19

👑Massive dApp ecosystem coming soon with innovative token economic details

🦁DeFi component / partnership incoming 

Things to consider

Apart from the general risk that is inherent with the crypto space, consider the following when you DYOR on Skrumble Network. 

Competition

Few blockchain/crypto companies have tried to take a stab at the ‘secured communication’ aspect using blockchain. 

We have not yet heard the great success story in this space. 

This is good news and not so at the same time. 

It is good news because Skrumble Network could be THE project that penetrates the ‘success resistance’ in space. 

It is not so good news because the same reasons that lead to the failure of previous projects could plague Skrumble Network. 

Team changes

Exodus of team members from the Skrumble Network is a point of concern for us.  We are going to update this section with the response from the Skrumble Network team (without removing this concern from here). [Update: It seems that several are still involved in a part time basis, and they claim to have streamlined their operation. They are also actively working with the Juggernaut (JGN) team to implement the DeFi rewards system. For more details on JGN please see here: https://jgndefi.com/ 

Token supply

While the market cap is what matters the most in terms of the potential multiples, crypto space seems to be very touchy about the token supply. 

Token supply on Skrumble Network (SKM) is 1.5 Billion and might be looked at as quite high.

All tokens have been released to the market. In this space, the actual token supply amounts are becoming far less important. This was a pretty standard number in 2018 and was advised to the team. 

Team is expected to release more token utility and use cases as per the information alluded to by Eric and depending on the future use cases the market might respond positively. 

Moving to a more stable way of incentivizing operators may innovate the DeFI space beyond pure finance and into other industries as we rediscover how we share and perceive value. 

This is an overview of how we see DeFi becoming a crucial component going forward: https://medium.com/juggernaut-defi/skm-partners-with-jgn-to-develop-first-defi-communication-network-20ba9a3ccf38   

Conclusion

Our first impression is that Skrumble Network looks like a project with a lot of potential.  However, potential means nothing until it is ‘realized’. 

Will Skrumble Network realize its potential?  We do not know and that is the dilemma we have to ‘risk’ when dealing with micro-cap gems.

Thank you for reading and sharing this article. We appreciate you.

Also read:

Chasing the Micro Cap Crypto gems #3 Phantasma is Aiming to do it All!

Chasing the Micro Cap Gems #2: aXpire, a Blockchain Business with a Working Product

Chasing the Micro Cap Gems #1: TRIAS aims to bring Trust in Technology

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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5 questions we want XRP army to answer!

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xrp investing news

What follows is our opinion.  

Let’s not be hostile.  

Top 5 Cryptocurrencies 2020

We are simply posing some questions based on the information we came across and our own limited interpretation. 

It is quite possible that the sources we are referring to are at fault or our interpretation is. Either way, just answer these questions for us so that we can learn new things about XRP that we did not know.

Our readers know that we have been anti-XRP for a long time. We got trolled, mocked and called ignorant. Well, to each their own.

Our questions to the entire XRP army are simple, here they are:

Question 1: If crypto was to replace (or at least reshape) the entire banking business then what does a token whose sole business model is based on ‘accommodating’ banks have any future?

To put differently, when the world starts conducting commerce via text messages why do we need banks and Ripple which wants to serve banks?

Our basis for this question: 

In the future when we will start doing business with each other over text messages, wallets and email signatures, why do we need a payment gateway from Ripple?

We know that WeChat payment enables users to transact over chat.  Other companies are trying to catch up with this (primarily why Facebook was looking at creating its own currency, Libra).

However, once we have a digital dollar, we do not even need an outside stablecoin since one could, in theory, use the digital dollar directly.                  

Question 2: Why do you have to pay businesses to use XRP if it is so superior?

Our basis for this question: 

Financial Times reported that Ripple paid Moneygram to use Ripple technology.

Here is a direct quote:

It turns out Ripple has been paying a significant amount of subsidies cash to MoneyGram’s business since buying into the company in June. In the third and fourth quarter alone the Ripple benefits amounted to $11.3m.

What’s more, until a consultation with the SEC**, MoneyGram had been more than happy to book these cash flows as revenues. Due to the SEC guidance, however, it has now had to restate fourth-quarter guidance to account for Ripple payments as “contra expenses”.

XRP Twitter

Question 3: What is Ripple’s revenue worth without the ‘selling’ XRP?

Our basis for this question: 

The question seems to be answered by the XRP’s CEO himself. Here is an excerpt:

Asked if XRP was keeping everything cash flow positive at Ripple Labs, Mr Garlinghouse answered: “Well XRP is one source. I don’t know how to answer that because if you took away our software revenues, that would make us less profitable. If you took away all our XRP, that makes us less profitable. So I don’t think about it as one thing.” 

He clarified later: “We would not be profitable or cash flow positive [without selling XRP], I think I’ve said that. We have now.”

In our opinion, we think that the only reason Ripple (XRP) is even operational is because of the billions upon billions of XRP tokens that they keep dumping on the unassuming investors.  

Is this a wrong assumption?

Question 4: If Ripple does not need XRP, why is XRP needed?

Our basis for this question: 

This is based on our understanding that Ripple’s technology can be used by the businesses without having to use XRP.  It is recommended but not ‘required’.

Is this accurate?

Ripple’s solutions can work without XRP (its native token).  So, if XRP is not a utility token in strict sense, how are its creators able to mint and sell them at will without tripping any security laws?

Question 5: If Ripple [XRP] is to act as the ‘stable’ value while the transactions take place on Ripple network, why should anyone trust XRP which is backed by nothing instead of stablecoins like USDC that are backed by real world assets?

Our basis for this question: 

We would personally trust USDC more or even Facebook’s Libra rather than XRP which is backed by nada.

This is what Demelza’s opinion was during our interview:

“The main point is that if XRP were able to back their currency with financial assets and stabilize the purchasing power of the currency, then that would mean XRP coins should have no price appreciation. In fact, only the equity shares of Ripple Labs would profit from XRP’s adoption as a global reserve currency. But Ripple Labs is a privately held company. After fully understanding what XRP is, one realizes that XRP’s investment pitch does not make sense at all.”

Conclusion

We are trying to convince ourselves as to why we need Ripple in the crypto space if:

  • Future of payments is going to be ‘self-bank’ & over the chat
  • There are better stablecoins in the market 
  • Ripple itself as a technology doesn’t need its own native token, XRP

For this very reason, our opinion is that the money will flow out of XRP and the creators will keep dumping their bags into the market until the market can no longer absorb it and then it will be ‘lights out’.

We await for the XRP army to provide us insights that we did not know and our opinion changes…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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