Official Cryptocurrency Thread (2 Viewers)

Neil_

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Was a few years too late for BTC, but I got in on ripple at 75c and a particular mod here got in at 25c


It's now $2.27241 (ATH @ USD $2.80) analysts say it will grow to $18-20 (end of 2018), bear in mind those are conservative figures since it already beat this year's projections by leaps and bounds. Great opportunity to invest (FOMO) :party: :party:

Ripple has already partnered with many banks in Asia, and even Westpac here in Australia (source)
 
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Zamura1

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Was a few years too late for BTC, but I got in on ripple at 75c and a particular mod here got in at 25c


It's now $2.27241 (ATH @ USD $2.80) analysts say it will grow to $18-20 (end of 2018), bear in mind those are conservative figures since it already beat this year's projections by leaps and bounds. Great opportunity to invest (FOMO) :party: :party:

Ripple has already partnered with many banks in Asia, and even Westpac here in Australia (source)
Being eyeing ripple over the last few days but my bitcoin exchange doesn't do it, and its currently an agonising wait for coinspot and BTCmarkets to verify me and for BTCmarkets to re-open POLi
 

Neil_

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Being eyeing ripple over the last few days but my bitcoin exchange doesn't do it, and its currently an agonising wait for coinspot and BTCmarkets to verify me and for BTCmarkets to re-open POLi
I buy ETH from Coinbase --> Binance --> Ripple. Really quick process (and eth fees are unnoticeable). Also, coinspot stopped taking deposits from australians ://

Also the coinbase verif takes like 3-5 mins.
 
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Graney

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It's now $2.27241 (ATH @ USD $2.80) analysts say it will grow to $18-20 (end of 2018), bear in mind those are conservative figures since it already beat this year's projections by leaps and bounds.
That would be a market cap equivalent to over 10% of US GDP, lmao.

Do you think Ripple in 2018 is worth ~2.3x as much as Apple Inc.?

Ripple has already partnered with many banks in Asia, and even Westpac here in Australia (source)
No banks are using XRP, some banks are 'testing' ripple (this is not a partnership, it means nothing),

https://twitter.com/twobitidiot/status/946752692281540608
https://twitter.com/ideafaktory/status/947063289103646720
 
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Neil_

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Alright, alright.. It's in the testing phase.

- Keep in mind, a year ago when it was dirt cheap ($0.005 USD), nobody could foresee it reaching this high, people kept bringing up the 'market cap' argument.

Events:



If banks begin to use this for inter-banking transfers (the numbers are astronomical) the potential for growth would increase immensely. There's just so much action happening and so soon.

Sources
-https://www.google.co.uk/amp/s/asia.nikkei.com/amp/Business/Deals/Japan-South-Korea-blockchain-payments-enter-trials-Friday
-https://www.google.co.uk/amp/s/www.cnbc.com/amp/2017/11/16/american-express-santander-team-up-with-ripple-on-blockchain-platform.html
- https://twitter.com/joelkatz/status/943638218984996865?lang=en
-https://www.reddit.com/r/Ripple/comments/7neun1/2018_brings_6_potential_price_hikes_for_ripple/


tl;dr Whether the gains be by $5 or $10/15 (who honestly knows? too early to say) - early investors would still be in the profit zone :spin:. There'll always be nay-sayers, yet when the coins rise they go silent.
 

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Graney

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tl;dr Whether the gains be by $5 or $10/15 (who honestly knows? too early to say) - early investors would still be in the profit zone :spin:.
I think it’s more likely the early investors in ripple will be in the prison zone.
 

seremify007

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I'm still relatively new to all this but how are you guys actually realising your gains? Or is it all paper gain?

I appreciate the blockchain technology and the concepts behind cryptocurrencies, but I'm not convinced these are the way of the future given the current limitations, issues and limited acceptance of them in everyday life. Reminds me of dutch tulips.

That being said, I don't dispute that there will be plenty of people out there who make profit off riding this rollercoaster.
 

Graney

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Jackson Palmer, the founder of the cryptocurrency, told Coin Desk the surge in Dogecoin speaks volumes for the current state of the altcoin market.

Palmer, who left the project in 2015, said: “I have a lot of faith in the Dogecoin Core development team to keep the software stable 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 two years has a $1B+ market cap.”
 

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ok heres my opinion on it-

bitcoin is fucked and can have like a 20% transaction fee, super slow transactions and just over hyped. People who are investing now are riding the hype train (jesus fuck u ment to buy it when it cheap). These people (mostly young) have invested and purchased the said coin after they hear that someone (also young) is now a rich. Cryptocurrency is not that easy, it still requires work and those investing will likely make very little significant money

There are far better alternative cryptocurrencies such as raiblocks (zero transaction fees and much faster. it is also ASIC resistant making it less controlled by the interests of powerful miners-unlike bitcoin, infact, it doesnt even require mining)

of course now people are buying altcoins with little thought and investing in a few dozen (of which will make little money) due to the magic buzzword "altcoin"

for the love of fucking god look into what you buy

ok, rant over
 

obliviousninja

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ok heres my opinion on it-

bitcoin is fucked and can have like a 20% transaction fee, super slow transactions and just over hyped. People who are investing now are riding the hype train (jesus fuck u ment to buy it when it cheap). These people (mostly young) have invested and purchased the said coin after they hear that someone (also young) is now a rich. Cryptocurrency is not that easy, it still requires work and those investing will likely make very little significant money

There are far better alternative cryptocurrencies such as raiblocks (zero transaction fees and much faster. it is also ASIC resistant making it less controlled by the interests of powerful miners-unlike bitcoin, infact, it doesnt even require mining)

of course now people are buying altcoins with little thought and investing in a few dozen (of which will make little money) due to the magic buzzword "altcoin"

for the love of fucking god look into what you buy

ok, rant over
lol
 

Neil_

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I'm still relatively new to all this but how are you guys actually realising your gains? Or is it all paper gain?
- They're all paper gains until you sell it for $ in your bank acc.

- There are many apps like blockify to monitor gains and losses across various alts. I don't recommend blockify tho (price updates are slow).
 
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Graney

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“Ripple is highly centralized & XRP is more akin to a PayPal account than a trustless system like bitcoin.... It's hard to come up with any rational reason why XRP exists in the Ripple protocol, other than as a means for Ripple to make money. Lots of money.“

XRP, the Ripple token, is unlike any other crypto token in the market. It is entirely centrally controlled, operating more like an ETF unit than anything else since the issuer has the capacity to release or absorb (pre-mined) tokens in accordance with their valuation agenda. More egregiously though, the token plays little part in Ripple’s central business case. For the most part it’s just a cute add-on. A game, which for some unknown reason has become the central value proposition in the project these days. All very, very weird.

That’s not to say Ripple didn’t want the token to play a central role in its business case, it’s just that their vision of XRP becoming a bridging or conduit currency through which liquidity providers would de facto offer seamless and cheap FX settlement services to the world never really caught on with industry. Yes, technically the potential is still there. But that’s not what Ripple’s banking partnerships are all about at all. They’re focused instead on messaging protocols (which record payments on a shared ledger) that compete directly with Swift and for which, we are told, tokens are not required.

Okay. But what if XRP — “the bridging currency” — did become the central value proposition in the model in the future? Wouldn’t this constitute a truly innovative breakthrough?

Not really.

The bridging-currency proposition is centred on the idea of outsourcing FX settlement to third-party market-makers/liquidity providers, who have an incentive to step into the market whenever relative FX valuations are out of whack vis-a-vis XRP, thus reducing transaction costs.

Ripple “the settlement tech” is thus arbitrage tech, highly dependent on the whims, activities and behaviours of its liquidity provider community. This means it’s partial to the same exact problems HFT suffers from: namely, the fact there’s no guarantee liquidity providers will always be around when you really need them. In FX this sort of solution doesn’t really cut the mustard. People want a dependable FX service, not one that’s subject to the whims of unknown third-party participants.
https://ftalphaville.ft.com/2018/01/05/2197220/the-ripple-effect/


“Ripple Labs worth $US225 billion, tenth largest company by market cap in the world. Makes [co-founder] Chris Larsen worth $US55 billion tying Mark Zuckerberg as fifth richest man in the world.”

“At one point in the 1989 Japanese real estate bubble, the Imperial Palace in Japan was said to be worth more than the entire state of California, things that don’t make sense don’t last ... be careful out there.”

- Mike Novogratz
 
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Graney

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Ethereum transaction fees surge to average $2.50 usd, lol scalability.
 

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