Cryptocurrency - a few tips from an old hand

[MRDOG]

Well, I did have some ripple @ .22. Obviously wish I would have held but it's @ #2 by market cap. It's not that good of an investment at this point. To see a 2x return on ripple from this point, ripples market cap would need to be equivalent to bitcoins. How likely do you think that is? Not very likely. And only for 2x returns

I am new to cryto but if banks start switching to Ripple it has to go up in price .... . Most didn't think ripple would reach $2 from what I been reading... and here we are currently at about $2.80 .. I seen it over $3 multiple times.

Plus small amounts of Ripple get destroyed as its used + each wallet holds 20 ripple that is unusable at present time. Not all Ripple in circulation is usable / able to be traded.

I don't think its dropping anytime soon. Coinsquare is going to be adding ripple that should give it another little pick up in price since it would make ripple easier to purchase.

 

[MRDOG]

That is the problem. One of the reasons Coinbase can get away with this is because it is still the best option for many people.

And these people want so much information on you it is absurd. I tried signing up for Coinbase months ago actually. lol. So there are all these intermediates and everyone one of them is getting your data. One of the good things about crypto was its privacy. But these exchanges extract more information out of you than anybody.

That was my issue to. I thought crypto was suppose to be for privacy. I go to buy some and I got asked for everything but my first born.

And what is up with every one of these crypto sites wanting everyone to use SMS verfication. Give us an option. SMS is a pain for me since I live in a black out area.

 

[Der Eisbär]

I am new to cryto but if banks start switching to Ripple it has to go up in price .... . Most didn't think ripple would reach $2 from what I been reading... and here we are currently at about $2.80 .. I seen it over $3 multiple times.

Plus small amounts of Ripple get destroyed as its used + each wallet holds 20 ripple that is unusable at present time. Not all Ripple in circulation is usable / able to be traded.

I don't think its dropping anytime soon. Coinsquare is going to be adding ripple that should give it another little pick up in price since it would make ripple easier to purchase.

Again, Ripple would have reach bitcoin's market cap just to double your money. And ripple reaching bitcoin is a highly unlikely scenario. Breaking out beyond bitcoins market cap is even more unlikely and thats what would need to happen for your ripple money to go beyond 2x

 

[MRDOG]

This site is offering Free $500 to cover the cost of your first $500 in fees. All you have to do is validate your email address.

Sign up here >> https://www.upcoin.com/?ID=00f1fe86

 

[rj144]

Again, Ripple would have reach bitcoin's market cap just to double your money. And ripple reaching bitcoin is a highly unlikely scenario. Breaking out beyond bitcoins market cap is even more unlikely and thats what would need to happen for your ripple money to go beyond 2x

I know you're looking for 10 to 100x's growth, but I do think Ripple will double in price soon. You're assuming BTC's marketcap remains static which it will not.

 

[MRDOG]

I watched ripple go down to $1.90 today ... anyone buying and selling is making some coin. Currently at about $2.50

 

[JonesBones]

Bitcoin was off by 9.2 percent, while litecoin fell 8.8 percent according to Coinbase. Bitcoin futures also fell 12 percent at the Cboe, trading at $14,750 as of 12:47 p.m. New York time.

Contrary to many digital currencies, ripple has been working with large institutions, giving it an aura of legitimacy and practicality. However, cryptocurrency enthusiasts say centralization is the exact opposite of what the technology of the digital currencies should be about.

"The reason ripple is surging so much is it's a bubble," said Erik Voorhees, CEO of digital asset exchange ShapeShift and a vocal advocate for bitcoin as a way to separate money and the state. "Testing crypto with banks doesn't make sense. The whole idea of crypto is you don't need banks."

https://www.cnbc.com/2018/01/08/cry...ercent-in-24-hours-bitcoin-also-dropping.html

So it seems the only way crypto thinks it can succeed is working with banks which is against the principle of the currency. lol. Nearly every core tenet of this currency has been thrown out the window.

 

[JonesBones]

This is what a real investment looks like you clowns:

 

[mon]

Bitcoin was off by 9.2 percent, while litecoin fell 8.8 percent according to Coinbase. Bitcoin futures also fell 12 percent at the Cboe, trading at $14,750 as of 12:47 p.m. New York time.

Contrary to many digital currencies, ripple has been working with large institutions, giving it an aura of legitimacy and practicality. However, cryptocurrency enthusiasts say centralization is the exact opposite of what the technology of the digital currencies should be about.

"The reason ripple is surging so much is it's a bubble," said Erik Voorhees, CEO of digital asset exchange ShapeShift and a vocal advocate for bitcoin as a way to separate money and the state. "Testing crypto with banks doesn't make sense. The whole idea of crypto is you don't need banks."

https://www.cnbc.com/2018/01/08/cry...ercent-in-24-hours-bitcoin-also-dropping.html

So it seems the only way crypto thinks it can succeed is working with banks which is against the principle of the currency. lol. Nearly every core tenet of this currency has been thrown out the window.

Nice post, shame the next one insults most of tbe posters.

 

[JonesBones]

'It says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap'


The creator of dogecoin, Jackson Palmer, believes it is “worrying” that most conversations around digital currencies focus on the investment potential rather than the underlying technology.

“I haven’t held a substantial amount of dogecoin since early-2015 so the market cap doesn’t mean a lot to me – it does however act as a barometer for crypto mania and speculation,” he said on Twitter.


“I have a lot of faith in the dogecoin core development team to keep the software stable and and secure, but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap.”

He also believes we’re in a bubble that will “inevitably” burst.

“I think it’s relatively safe to label the current market as a ‘bubble’, although it’s hard to predict how much it’ll inflate and for how long before it inevitably bursts,” he added.

“My one hope is that when that does happen and people lose large sums of money, the negativity in the market doesn’t stifle technological innovation or interest in digital currency from the mainstream.”


http://www.independent.co.uk/life-s...encies-investing-jackson-palmer-a8148501.html

 

[Medulla Omoplata]

Does anyone actually use crypto for actual transactions or is everyone just playing hot-potato on the bubble. Because as far as I can see labelling this shit "currency" right now is laughable.

 

[MRDOG]

Its speculated the increase in value of the Doge coin is because it is being used as a currency converter. People are purchasing doge sending it to exchanges to trade for other currencies like Ripple due to the lack of fees associate with Doge.

As far as Ripple being associated with banks is concerned ... its the reason I picked to invest in it or will invest in it since I actually haven't purchased any yet.

I agree about it being a bubble. It will pop and Bitcoin and a few others will emerge on top while other coins will be worth less then Poker Stars play money. That is not to say traders can't make money atm. They can .. and lots of it.

 

[MRDOG]

Does anyone actually use crypto for actual transactions or is everyone just playing hot-potato on the bubble. Because as far as I can see labelling this shit "currency" right now is laughable.

Its used for many things. I play poker and more and more poker sites / gambling sites are accepting Bitcoin as deposit options.

 

[rj144]

This is what a real investment looks like you clowns:

I have that and cryptos. I got in on Tesla about 10 years ago when it was $17 a share.

 

[JonesBones]

Does anyone actually use crypto for actual transactions or is everyone just playing hot-potato on the bubble. Because as far as I can see labelling this shit "currency" right now is laughable.

Nope. They can't use it so they just hold it. The expect them to have collectible value like beaniebabies or baseball cards.

 

[amplus]

Sure, here's a good start -

https://www.ethos.io/

And here is a good interview with the founders -

Ethos 2 dollars when i first spotted it....now 10 dollars!!!! Worth investing in still you think or have i missed the boat??

 

[JonesBones]

Its used for many things. I play poker and more and more poker sites / gambling sites are accepting Bitcoin as deposit options.

ya, thats a large swath of industry. gambling sites.

Steam shut them down. Really only decent place that took them. I mean, you could buy a game but the time the transaction went through the price changed so much it is no longer enough. So it has to be redone again. Can you imagine buying something at Walmart off the shelf and by the time you get to the register the price has changed? lol. And then you have to pay a fee to redo the order? Great currency:

Steam is no longer accepting bitcoin as a payment method, game company and distributor Valve announced today. The company is attributing its decision to cryptocurrency’s “high fees and volatility.” In a blog post, Valve explained that bitcoin transaction fees have gone up to nearly $20 per transaction last week, “compared to roughly $0.20 when we initially enabled Bitcoin.” Those fees then have to be shouldered by gamers making purchases on Steam, and the total cost to consumers could be even higher if the value of bitcoin dips in the meantime.

Even if the value of bitcoin were to go up while the user completes the transaction, and Steam has to refund the difference to the user, the transaction fee must be paid by the user again for the refund. “This year, we’ve seen increasing number of customers get into this state,” the post states. There’s even the scenario, Valve explains, that as the user or Steam tries to cover the difference in value, the value of bitcoin then changes again, causing more problems.

https://www.theverge.com/2017/12/6/...n-game-store-payment-method-crypto-volatility

And of course through all this mess, there is a fee at every step. They are worse than banks.

 

[MRDOG]

^^^^^

Lots of gambling sites offer Bitcoin.

Playing online poker for real cash is not allowed in many countries. One of those places is the good ol USA ... Bitcoin is a way for Poker Sites to allow US players to play on their site and to be paid out.

I can name a half dozen Poker sites of hand that accept Bitcoin as payment.

 

[MRDOG]

Ripple News :

Western Union in talks with Ripple to adopt XRP this year,”
https://www.pymnts.com/blockchain/2018/western-union-ripple-xrp-cryptocurrency/

European banks interested in XRP

https://ripplenews.tech/2018/01/04/eu-banks-consider-approach-ripple-xrp-year/

Ukranian bank wants XRP token

https://ripplenews.tech/2018/01/07/ukrainian-banks-plan-use-ripple-financial-transaction

Big money transfer firms want to use XRP

https://www.ripplecoinnews.com/use-...s-in-2018-will-enable-ripple-to-catch-bitcoin



Coinsquare (canadian exchange) will list xrp

https://thenextweb.com/hardfork/2018/01/03/ripple-xrp-coinbase-coinsquare/

DMM Japanese exchange to list XRP (January 11th) 27 million customers!!!

Blockchain Conference [Speaker: Brad Garlinghouse] (January 26th) : (for 1 and 2) http://coinmarketcal.com/?form[mont...][]=Ripple+(XRP)&form[sort_by]=&form[submit]=

The cross-border trials(Japan-South Korea) are set to run through Jan. 31, and if all goes well, the banks plan to send money using Ripple's XRP digital currency: https://www.cnbc.com/2017/12/14/rip...y-becomes-third-biggest-digital-currency.html

SBI Holdings to launch exchange adding XRP: https://www.crowdfundinsider.com/20...ces-asia-will-launch-digital-assets-exchange/

Announcement of two household names. (confirmed by David Schwartz)

AMEX adopting Ripple and XRP: https://www.cnbc.com/2017/11/16/ame...am-up-with-ripple-on-blockchain-platform.html

XRP usage by SBI (spring): http://news.tv-asahi.co.jp/news_economy/articles/000116776.html

I predict a jump in price come Jan 11th.

 

[taurus]

Newb here. I consider myself tech and information (moderately) savy, but with crypto, it's just so overwhelming. So my post will probably contain a couple of stupid questions.

I'm not gambling away rent money or anything significant, i'll make a 200$ investment (max) in the next two months. One in something solid (i'm thinking ethereum), and something more risky (i'm thinking raiblocks).

1. How secure is coinbase and is there merit in claims it's a scam, and people can't withdraw their money? Their site looks newb and user friendly, which is why i used it.
2. If it's not secure, which one is, and how difficult it is for a newb to buy/sell cyrpto over it?
3. Speaking of buying/selling, am i buying (for argument sake, let's say on coinbase) at the price someone else is offering or the immediate price shown currently on (e.g.) coinmarketcap?
4. Why is there a need for wallets? I don't understand all this hoopla of buying one crypto (e.g. bitcoin) on one platform, trading for other cyrpto on other platform, transferring it to your account on third platform, then transferring it to your wallet (online or desktop), for which the password (or whatever the name is) is advised to be printed out and stored on a secure, offline location. Is there really a need for me to have accounts on coinbase, kucoin, bitgrail, and binance (and the wallets) in order to buy/sell/store 2 or 3 crypto currencies?
4. Most important one: How do i cash out (eventually)?

@Nik123 , what are your thoughts on Raiblocks (XRB)? Made a decision to buy it when it was 10$, but that was my first time on anything crypto related and i got lost in the sea of information so I gave up. It bumped to 32$ in the next few days. Tried to buy then, but my bank didn't approve the transaction, probably due to my fault. Probably for the better, as there was a slight dump in the few following days. Is this, in your opinion, a solid base for a crypto, considering there are countries that currently have discussions about banning mining?