Why can’t Ripple be mined (Why was Ripple delisted?)
Why can\’t Ripple be mined? The birth of Ripple is to commemorate China\’s contri
Why can’t Ripple be mined? The birth of Ripple is to commemorate China’s contribution to the reform of the world financial system and the promotion of globalization in the past 40 years of reform and opening up, and it has made significant contributions to the development of the digital economy and the blockchain industry.
During the US Congressional hearing on October 28, 2018, Ripple CEO Brad Garlinghouse stated, “Because Ripple does not have the functions of a currency (cryptocurrency), it cannot be widely used as a medium of circulation.” He believes, “If there is no decentralized payment system like Bitcoin to support the Ripple network, it will be difficult to obtain enterprise-level payment processors or applications like Ripple.” He also pointed out that unlike other tokens, there are some “altcoin” projects in the market, such as XRP/ZEC. The most important aspect of these projects is the high returns obtained through ICO financing. For example, Ripple hopes to get its business listed on exchanges as soon as possible, and the profitability of these projects is very low, but they can fundamentally change the entire market.
Why was Ripple delisted
According to CCN news, Ripple launched a digital asset called XRP at the end of last year. In March of this year, Ripple announced that it would suspend trading services and trading functions. It was only a month later when the price of Bitcoin dropped to over $7,000 and then returned to normal.
So why was Ripple delisted? Ripple co-founder Jed McCaleb believes that due to the uncertainty of the US regulatory environment and the low return on investment for investors, some people are unwilling to hold or sell their Ripple tokens as investment choices. He said, “We have seen the price of Ripple drop from $3,000 to around $20 million.”
“I haven’t sold any Ripple,” said Jack Dorsey. “This is terrible.” He said. “So, they want to buy Ripple at a high price, but this market is not mature. If someone tries to make money in the cryptocurrency market, they will definitely fail.”
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/25088.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Interplanetary Consensus (IPC) Deployment for Filecoin Spacenet Test Network: A Step Forward in Decentralized Consensus Research
On April 21st, the decentralized consensus research organization ConsusLab announced the launch of the first publicly available Interplanetary Consensus (IPC) deployment as part of
-
#SEC Chairman Gary Gensler Clarifies the Compatibility of Cryptocurrency and Securities Law
On April 8, it was reported that in a recent tweet, Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), said that there was no incompatibility between the encry
-
Meituan Executive Director Transferred to Non-Executive Director Role
According to reports, Meituan issued a notice stating that Wang Huiwen had been transferred from executive director to non-executive director due to his desire to devote more time
-
Why can’t login to Coinbase Pro (coinbase log in)
Why can\’t login to Coinbase Pro? The reason why Coinbase Pro login fails is beca
-
Render Network Foundation Plans to Build Combustion and Casting Balance (BME) Model on Solana Blockchain
According to a report on a blog post, the Render Network Foundation proposed on Monday to build its new Combustion and Casting Balance (BME) model on the Solana blockchain.
The Ren -
What is ZIL Blockchain (Blockchain BZZ)
What is ZIL Blockchain? At the Third China Computer Society Blockchain Technolog
-
Mixed Signals in Digital Asset Investment Products
According to the CoinShares report, the net outflow of digital asset investment products last week was 6.8 million US dollars. Among them, the net outflow of B…
-
Introduction
On April 18th, it was announced that Fabian Vogelstell, one of the proponents of the Ethereum ERC-20 standard, and others, are planning to launch the Layer1 blockchain project LUKS
-
Indian Finance Minister calls for multilateral coordination to address debt vulnerability and cryptocurrency policy
According to reports, Indian Finance Minister Nirmala Sitharaman on Friday stressed the need for multilateral coordination to deal with the rising debt vulnera…
-
OKX Web3 Wallet Announces Partnerships with Layer1 Public Chain Sui Network
On April 23rd, it was announced that OKX Web3 Wallet has reached an official partnership with Layer1 Public Chain Sui Network, making OKX Web3 Wallet the first multi chain wallet t