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Yesterday a large sum of XRP (1 billion) was moved. The transaction was registered on Bithumb Exchange and the commission was a minuscule 0.000012 XRP.
Although it is not the first time that large quantities of XRP are moved, it was stated that this was a test to indicate why XRP could, in fact, have no value.
Was revealed from Flibbr on Tweeter, who also published a link to the executive summary of XRP, which describes the intended purpose of the token.
The tweet emphasizes that XRP transactions are like sending a "json string". {Currency: xxx, value: xxx}
The 1bn XRP commission is only 0.000012, which means it would cost a lot XRP to move any amount of {X} USD. The conclusion that draws is that "XRP has no value and has always been understood to have no value".
The topic of the XRP value has been the subject of heated debate. The main reason for most believes it to be worthless is that banks have the ability to transfer funds in fiat or other cryptocurrencies using Ripples' shared accounting system XRapid. Therefore, this has invalidated the utility of XRP, because it does not even work as a primary currency for the system that has been configured to use it in the first place.
Likewise, they argue that people have misunderstood the idea that banks should buy a lot of XRPs to transfer value to XRP. This is false and then adds the argument that XRP functions as nothing more than a money-gathering tool for Ripple and its founders.
The two separate cryptographic fields
Despite the skepticism about the value of XRP, the token managed to eclipse ETH on the Market Cap list and now sits second behind Bitcoin. Ultimately, it is not surprising that two cryptocurrencies, one representing Satoshi's vision and supporting the movement towards decentralized peer-to-peer payments, and another supporting the traditional centralized banking system, should be positioned respectively at the # 1 and # 2. This ultimately demonstrates how cryptographic space is currently divided into two main fields, those that try to completely shut down the system from outside and those looking to make profits through small changes from the internal system. Only time will tell which fields are successful.
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