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A comment on MoneyGram Signs Deal to Work with Currency Startup Ripple. Parent comment

Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by jerguismi on Friday January 12, 2018 @01:46AM (#16130886)
> Maybe RippleNet can work in favor for both consumers and providers. Do keep in mind that RippleNet is not the same as XRP. The remittance houses will have to maintain Nostro and Vostro accounts for funding which I believe is currently maintained in USD. They can switch this to XRP to avoid those transaction fees and overhead.

For me this doesn't make much sense, why would the remittance operators be willing to hold XRP now? It is unstable and volatile like Bitcoin.

This whole ripple thing sounds like an epic scam. The actual technology is just a story that people can tell without actually understanding the business. Then the actual business is pumping the token, and then dumping at some point.

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Re:MoneyGram Signs Deal to Work with Currency Startup Ripple by justboxing on Friday January 12, 2018 @08:17PM (#16137696)
> why would the remittance operators be willing to hold XRP now?

They don't hold it forever. The sender and receiver hold XRP only for the period of time that the transaction is confirmed and settled, and according to Ripple CEO Brad Garlinghouse, this time is as little as 3 seconds.[1]

Source: See https://youtu.be/vnGNycbhJlE?t=388 at 6:28. He explains this.

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