Just read the headline of this article and you'll realize why the current Ripple psychosis is newsworthy. What has happened the last week is historical and scary.
It's the signal the mania stage is nearing an end.
See: Yasumitsu Shigeta
They're playing musical chairs right before the implosion. Ripple might be worth a couple billion dollars as a dangerous speculation. PayPal, an actual, real, live, huge, global, payment & money transfer system, is worth $92 billion.
Some people say you can't place a value on something like Ripple. Sure you can, treat it as an actual business, measure its prospects over the next 3, 5, 10 years. What are those business prospects for the next few years? Not much, less than that of Square and Stripe.
Ripple is just this bubble's CMGI or Internet Capital Group. Bitcoin is this bubble's Cisco or AOL (if it's lucky). The junk ICOs are DrKoop.com or TheGlobe. There's nothing unique about what's going on, history is rhyming as it so often does. It's a likely indication the global liquidity asset bubble party - spurred on by so many central banks pumping crazy levels of liquidity into the global economy for a decade - is reaching toward a climax, again.
From what I gather, the founder and chairman of Hikari Tsushin Inc. Once among the world's richest people, until Hikari Tsushin lost 99% of its stock value in 2000.
Someone should start a hedge fund finding ICOs with really well-connected teams, such as Tron (Alibaba connections) to predict the next wave of stories => rise => stories => rise. I for one would put $$ into that hedge fund.
People are obsessed with cheap shit, because they took one logical step and said "if this goes up $1, I make more than if Bitcoin goes up $1", but then they leaped over the next step ignoring it completely, which says that there are 100billion XRP, so the likelihood it will go up in price by $1 is rather low.
Granted, enough people bought into the flawed logical to see it happen a couple times over, not realizing that there's no reason for XRP's existence.
