6

I really believed in the idea behind Bitcoins from the start, and because I was an early adopter, I made some nice profit.

Now I forecast a big future for Ripple too, but I don't see many ways to turn this into profit. I can start hoarding loads of XRP, but it doesn't seem likely they will become valuable in the future, because as soon as they do, transaction fees will be lowered. Another option is to start a new gateway, and because they're pretty scarce now, it may become one of the popular ones in the future.

Is there any other way I can profit as an early adopter?

Improve this question
3
  • 3
    OpenCoin is the earliest adopter, and they start with all the ripples, so, in a sense, yes.
    – Nick ODell
    Feb 15, 2013 at 6:18
  • 2
    I don't see how "transaction fees will be lowered" is an argument against XRP appreciating. If people start using the XRP currency it will go up in value just like Bitcoin. However, I am suspicious of a currency where a single entity gets it all from the start. (And it doesn't matter how they choose to distribute it, what matters is that they have a say in it.)
    – Meni Rosenfeld
    Feb 15, 2013 at 9:30
  • 2
    XRP isn't supposed to be the currency, it's intended for keeping the network possible. The actual point of Ripple is to trade in other IOUs of other currencies. Of course, as with any scarce resource (e.g. WoW legendary equipment) you can trade or invest in it whether it's intended or not. But there are 100 billion XRP's available, waiting to be distributed at the whim of OpenCoin, so expect major inflation in excange value. Again, this is because they are not intended as currency, but as cheap network plumbing items.
    – Ilari Kajaste
    Nov 19, 2013 at 12:16

1 Answer 1

Reset to default
4

Advantages to being an early Ripple adopter:

  • Being able to get a lot of free ripples during their first distribution
  • Being able to establish oneself as a reliable and reputable Gateway that will be a go-to place for everyone
  • Establishing oneself as the first business to do something with Ripple - be it selling something or offering some services. Other early adopters would be then inclined to spend their ripples on your service just for the sake of using the system

Generally, there is not that vast of an advantage for being an early Ripple adopter as compared to using Bitcoin. That doesn't mean, however, that the advantages are not there.

Improve this answer
2
  • 1
    I'm a Ripple early adopter. Where do I get my free Ripples? (I mean besides the few you sent me)
    – ripper234
    Feb 21, 2013 at 6:24
  • You can get your free XRP's from various giveaways: giveaway.ripple.com Currently there is a giveaway from GitHub users. Remember that XRP's are not in any way the "point" of the Ripple system, they're just for making transactions scarce. You should not invest in them, they are not intended as currency (though they can be used as such).
    – Ilari Kajaste
    Nov 19, 2013 at 12:11

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge that you have read and understand our privacy policy and code of conduct.

Not the answer you're looking for? Browse other questions tagged or ask your own question.