Ripple and XRP Target Swift Takeover, retail investors are bullish on Bitcoin, and Ethium's Vitalik Buterin plans huge cuts in energy consumption

Bitcoin

A new study shows that Bitcoin and crypto-hodlers are in it for a long time.

According to a new DailyFX report, 77.5% of retail cryptographers remain long on Bitcoin, the highest number since November last year.

"Bitcoin: data from retail traders show that 77.5% of traders are net long with the ratio between long and short traders at 3.44-1 .The number of net traders is 0.4% lower than yesterday and 6.2% compared to last week, while the number of net traders is 2.7% lower than yesterday and 6.4% compared to last week. "

A look at Bitcoin's annual lows offers a unique perspective on exactly where traders hold the line.

Ripple and XRP

Meanwhile, Ripple's chief market strategist, Cory Johnson, states that Ripple is designed to replace Swift and XRP allows people to transfer value. TO cryptographic conference in November, Johnson described Ripple's software solutions as a suite of tools designed to replace the international Swift payment system.

"Ripple is meant to be a replacement for Swift – the messaging system used by banks and other things like ACH used to settle transactions, XRP is meant to be a digital way to transfer value, to move digital money, if you want."

As for XRP, Johnson states that it can be used to enhance instantaneous transactions and guarantee much lower rates than the current standard in the world of traditional banking and finance.

"XRP is focused on value alone, it can do 1,500 transactions per second similar to Visa, and it's really equipped to do things in a digital network, as I described at the beginning of our talk, at the moment we do not have a digital value. When you send someone a Venmo payment, they do not actually get the money for 3 or 5 days.They could credit an account, but there is the risk of being taken by the company there, which is why the fees are so high .

When one of our customers uses XRP to move money from Thailand to Spain, it happens in less than a minute or two, and it's very precise and fast, and it would not be possible without technology. "

Ethereum

The creator of Ethereum Vitalik Buterin states that the transition of the platform to Proof of Stake has been designed to reduce energy consumption by 99%.

In a new interview with IEEE Spectrum, Buterin states that the Bitcoin transaction validation method, called Proof-of-Work, requires a useless amount of energy. The method forces users to upgrade the network to solve complicated puzzles in an effort to prevent denial-of-service attacks and spam.

"The PoW part is the one that consumes these huge amounts of electricity.The same blockchain transactions are not very computationally intensive, it's just checking the digital signatures, it's not a kind of heavy 3D mapping or machine learning on gigabytes of data. "

Buterin hopes that public testnets will become operational and working with the new technology by the end of 2019.

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Disclaimer: the opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and operations are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital assets, nor The Daily Hodl is an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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