It is quite rare to see a major international newspapers writing about altcoins. Yet yesterday, The New York Times published a lenghty article about the Ripple company, which issues the XRP. The introduction suggests that the newspaper is about to promote Ripple:
“You may have seen the actor and investor Ashton Kutcher offer $ 4 million in XRP to Ellen DeGeneres charity in her talk show. Or maybe you saw Stephen Colbert announce a $ 29 million XRP donation to teachers.
Ripple, a San Francisco company that is on the rise thanks to the rise in the value of cryptocurrency last year, was behind all these gifts. The company has quietly become one of the richest start-ups of the last decade thanks to the value of the XRP, the digital token created by its founders six years ago. “
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After this dithyrambic introduction about Ripple company, debates are taking place and we are witnessing a sort of very interesting analysis of XRP tokens value and its ability to become a means of payment in its own right.
The article says that it is necessary to “persuade people to use XRP for anything other than speculative trading. This is a problem facing most young cryptocurrency enthusiasts. Digital tokens like Bitcoin and its many imitators (like XRP) have been designed to facilitate electronic transactions of all kinds. But today, almost no transactions are in progress, except on virtual currency exchanges where people are betting on their price. “
The question: “Is XRP a title (a stock) or a currency”? Is very interesting and treated with precision and without any position on the part of the newspaper.
“Many people who bought the digital tokens created by these projects did so in the belief that they will one day be helpful for real transactions. If the projects want to prevent these investors from selling, the initiators of these projects must convince them that the tokens will have some long-term value.
A company known as Block.One, for example, raised $ 4 billion from investors before they even had software that works. Now he uses some of the billions he has raised to create investment funds that will encourage developers to work to make his cryptocurrency, EOS, useful.
But no project is sitting on as much money as Ripple, because of the unusual structure of the XRP cryptocurrency. “