Is anyone in the BITCOIN market?

I guess I am one of the small minority here in that thinks this whole thing is nothing but a scam.

 

I think that is possibly a stretch. 99% of it is a pump and dump for sure. but there is real world applicaiton for this stuff and once you are in, you can truly see the benefit of how these currencies work vs traditional banking. I know you're using hyperbole by saying "the whole thing" and yes most of these things will leave people with empty pockets, but the few that make it will change the world. Everyone compares this to the dot com bubble. sure lots of companies disappeared. yet we still have Amazon, Google etc as dot com companies that are revolutionising the world.

 

 

While I believe BTC, ETH, LTC and a handful of other ones will be around in a couple of years.

I also believe that the ever going list of other ones will simply fade away over time and become stagnant.

 

Exactly. so the bet to make here is which one will be the stayer. I think BTC has a while to go, just because of brand recognition and first to market advantage. however I'm sure eventually there will be something none of us have even conceived yet. i believe EOS will be a great long term play if they can pull it off.

 

The whole risk vs. reward if holding for a short period of time just does not make sense as it would result in a significant increase in ones personal tax liability.

 

As mentioned above, if you're paying tax, you're making money. I would happily have a $ multi million tax bill every year if it meant i was earning the appropriate income to go with it. we have to pay for the benefit's of what ever society we live in somehow.

 

Right, same question i had until last night. Here is my thinking, and someone correct me if/where I'm wrong. First, on the Ripple side, it shouldn't matter what the amount is. Bank A wants to send to bank B $10m. They have 5m in cash, and decide to buy 5m in Ripple. Bank B doesn't care either since they convert Ripple right after receiving. They won't risk holding it overnight. Which begs a question - who really wants to hold these cryptos in large amounts when they not only not rise very fast, but maybe fall? Hold that thought. The other thing is - if you know you'll be using ripple for sure, you're probably going to want to buy it, like now, if banks think they'll need a lot of it later. The question here I have is - is this true? If the bank doesn't care what ripple price as mentioned in the example above, then why would it even go up? Because it's bought? But it's also sold after? Is this seesaw going to establish the ripple price down the line?

 

I think the volatility you're talking about is just a product of this all being new and not completely established yet. As you've mentioned in your comment over time these massive jumps and gains will stabilise out. by nature, the more adoption it has, and the greater volume traded to more stable it will become. at that point it's the ideal proposition for cheap fast transfer.

 

 

 

these things will act pricing wise like any commodity. There won't be swings of 20% in a week anymore, it's going to be fractions of that once the dust settles. You'll look at USD/EUR for example, then BTC price, to figure out how to best pay in Europe on that day for your coffee with your US Visa card. Where does it settle at? No clue. One person suggested 5% of Gold supply.

 

I don't know what other people's perspective is on this. But in relation to bitcoin, this would be the utopian situation. stability and genuine store of value perception.

 

 

The reason I asked for what the fee on Ripple is, is because by the virtue of diminishing the amount of coins, it drives the price up. IIRC bitcoin transactions don't pinch a part of bitcoin?

 

Ripple currently has 38 billion coins in circulation, and another 55 billion coins already mined and held in "escrow" so in terms of that exosystem there will not be a price drive based on limited supply. other systems like Bitcoin are founded on limited supply so they in theory can rise as demand out strips supply. but at these stages it's all still very experimental, i believe it will change the world, but to what extent is going to be the big question.

 

 

 

I think that is possibly a stretch. 99% of it is a pump and dump for sure. but there is real world applicaiton for this stuff and once you are in, you can truly see the benefit of how these currencies work vs traditional banking. I know you're using hyperbole by saying "the whole thing" and yes most of these things will leave people with empty pockets, but the few that make it will change the world. Everyone compares this to the dot com bubble. sure lots of companies disappeared. yet we still have Amazon, Google etc as dot com companies that are revolutionising the world.

 

Twenty years ago companies added .com to their name and their stock price increased 20% in the matter of months.

What is the difference???? Yes, 99.5% of the 1360 crypto currencies will be gone in a matter of a few years IMO.

Possibly the remaining ones will survive to facilitate ILLEGAL ACTIVITIES THROUGHOUT THE WORLD? They are non-traceable correct?

Money will be made, the question is at who's expense? Is there a bigger picture?

What if the money you made in this venture let to our eventual demise at the hands of a third world country that trades this stuff?

THIS COUNTRY HAS A AN OPIATE PROBLEM, HEROIN PROBLEM, A METHAMPHETAMINE PROBLEM. Question where did all this shit creep up from? I guess it is from all the ones that love the good old USA! I mean we are the best correct?

 

 

Right, same question i had until last night. Here is my thinking, and someone correct me if/where I'm wrong. First, on the Ripple side, it shouldn't matter what the amount is. Bank A wants to send to bank B $10m. They have 5m in cash, and decide to buy 5m in Ripple. Bank B doesn't care either since they convert Ripple right after receiving. They won't risk holding it overnight. Which begs a question - who really wants to hold these cryptos in large amounts when they not only not rise very fast, but maybe fall? Hold that thought. The other thing is - if you know you'll be using ripple for sure, you're probably going to want to buy it, like now, if banks think they'll need a lot of it later. The question here I have is - is this true? If the bank doesn't care what ripple price as mentioned in the example above, then why would it even go up? Because it's bought? But it's also sold after? Is this seesaw going to establish the ripple price down the line?

 

Now imagine BTC as a goldrush. A real one, like back in the day, imagine gold was found. People don't know what it's value is - they know its shiny and others want it. Whoever has some trades it for stuff. So I think in these terms - BTC is like having another "gold" in your disposal. You will have a choice to give up some gold (and you can't really make more), or to pay cash if gold price currently is low and you'd rather hold. Hence, coming back to the previous held thought - these things will act pricing wise like any commodity. There won't be swings of 20% in a week anymore, it's going to be fractions of that once the dust settles. You'll look at USD/EUR for example, then BTC price, to figure out how to best pay in Europe on that day for your coffee with your US Visa card. Where does it settle at? No clue. One person suggested 5% of Gold supply.

 

The reason I asked for what the fee on Ripple is, is because by the virtue of diminishing the amount of coins, it drives the price up. IIRC bitcoin transactions don't pinch a part of bitcoin?

 

Banks will care about price for two reasons:

 

1. Higher price = more liquidity = less volatility. The price right now must increase by default in order to increase liquidity to be able to accommodate the large amount of transactions in the ecosystem Ripple is trying to capture. Ripple is also quite dedicated to the stability of the price, as they understand financial institutions will be wary of a currency experiencing constant high volatility. They tend not to speculate or try to create hype in order to prevent such. XRP has been one of the more stable coins if you really dig down into the price. It's had small periods of massive growth, followed by long periods of stable, fairly small swings. The high supply by nature makes it hard to swing the price significantly often. Also, as you mentioned, the transactions are almost instant, which makes it less of a factor. Furthermore, keep in mind in the future there will be instruments to hedge against volatility if necessary (market makers willing to take on the risk, etc).

 

2. I think you started to touch on this one, but banks buying in now have a large incentive. They are able to buy XRP OTC as an institutional purchase from Ripple, at a discounted rate. With the price increasing steadily, they stand to positively affect their balance sheet significantly going forward.

 

 

shapeshift.io

 

 

 

 

What are you using to purchase XRP?

 

Possibly the remaining ones will survive to facilitate ILLEGAL ACTIVITIES THROUGHOUT THE WORLD? They are non-traceable correct?

 

That is in fact one of the biggest misconceptions about Crypto, and is spruiked by the media, but once you look into it, it's actually more transparent and easier to trace than FIAT cash is. In fact you can trace every bitcoin and all of its movement since inception. Sure you can use mixers and stuff, but then people can money launder with FIAT as well.

 

there are privacy coins such as Dash and Monero, and there will always be a call for them, and I'm long on Monero I think it will be the long term leader in this field. however blockchain based cyrpto currencies are actually easily traced if you know what you're doing. In fact if a government wanted to really control the financial supply they would convert their entire fiat currency system to a ledger based digital system, because they could monitor every last cent, who has it, what it's spent on and whether you've paid taxes etc. The fear at the moment for governments is that BTC ETC etc are all decentralised and they cannot control them, and they currently do not have the expertise and skills to properly track it, but rest assured this will come.

 

 

 

Money will be made, the question is at who's expense? Is there a bigger picture?

I guess this is true globalisation in effect. There is a true demand and supply arrangement. It's not controlled or manipulated by the government's of the world, it is genuinely a 100% market driven capitalist tool. No doubt some will lose money, some will make money, but it's completely market driven and 100% by the choice of the participants.

 

THIS COUNTRY HAS A AN OPIATE PROBLEM, HEROIN PROBLEM, A METHAMPHETAMINE PROBLEM. Question where did all this shit creep up from? I guess it is from all the ones that love the good old USA! I mean we are the best correct?

 

i wont enter into political discussion, I love the USA and travel there at least every 18 month's, however every time i go, i become more disillusioned by it, with the homelesness, crime, health care issues, and overall quality of life seemingly decreasing every time i go. I'm very lucky to live in Australia, which despite some of it's short comings and potential for things to go downhill here too (as they currently are) it's good to be a little bit isolated, and to be in a country nobody thinks about and most people dont even know where it is.

 

 

For the record I was very late to the party, have been watching it for years, but only dove in properly some months ago. I'm not in it for gains, but as someone mentioned above, to simply not be left behind. and I put less than 1% of my investment portfolio in at the time and pulled out my seed capital when it did over 100% gain. so zero risk held here, I just am a proponent of what it can be

What if China, Russia, decided to pull out, all that US money gone, just like that, out of the/our economy. Seems like a what if, but you never know.

 

Net neutrality, BTC futures/options, seem to make more sense now.

Thoughts on XRP?

What if China, Russia, decided to pull out, all that US money gone, just like that, out of the/our economy. Seems like a what if, but you never know.

 

Net neutrality, BTC futures/options, seem to make more sense now.

 

I'd see it going the other way if anything. If the cyrpto game is a scam. I could see it being a US based one designed to topple the economies of other countries, especially since china is becoming a quick growing economic rivals.

 

But in any case, who cares? We've all blown money on stupid stuff. I've had a night where I blew $300 on tacos alone, but if I can put that into a cypto coin and make $$$ back, why the hell not?

But in any case, who cares? We've all blown money on stupid stuff. I've had a night where I blew $300 on tacos alone, but if I can put that into a cypto coin and make $$$ back, why the hell not?

Exactly my thoughts

I've had a night where I blew $300 on tacos alone,

 

 

Say what ??

Say what ??

 

 

Visit LA and you’ll see how we party in the US. 😜😎

Exactly my thoughts

 

 

Say what ??

 

That was a crazy night, wound up at a restaurant/bar/lounge that has amazing tacos. Me and 3 friends where ravenously hungry and just kept ordering...the tacos are about $12 for 2 while delicious aren't that big. Anywho you can guess how out of hand that got. Also wound up parting with the bar manager and bar tenders and having some sneaky cougar try to shanghai my friend and me into paying for her drinks, only to have the bartender call her out, her cuss us out and call us "classless scoundrels," and then security had to shuffler her off. What a time to be alive

 

At least that was fun...I've had some supposed business deals that fell through over dinner that cost me $100 salads or $180 burgers. Another member here has an infamous $1,700 bottle of water story. My personal worst was a $1,500 class of cranberry juice.

 

Visit LA and you’ll see how we party in the US. 😜😎

 

Yup...I can give you a first hand guide to fun insanity, as can some of the other's here in LA can

I'd see it going the other way if anything. If the cyrpto game is a scam. I could see it being a US based one designed to topple the economies of other countries, especially since china is becoming a quick growing economic rivals.

 

But in any case, who cares? We've all blown money on stupid stuff. I've had a night where I blew $300 on tacos alone, but if I can put that into a cypto coin and make $$$ back, why the hell not?

 

Very true.

 

Thankfully they weren't jack in the box tacos lol.

 

Very true.

 

Thankfully they weren't jack in the box tacos lol.

 

Once in college me and a few buddies went to Del Taco for Taco Tuesday which had a special for 3 tacos for $1, so we ordered 300. It was an epic time.

 

Does anyone have a tutorial of sorts into picking up XRP (as a Canadian)?

 

Seems to be quite convoluted with lots of shady methods.

Does anyone have a tutorial of sorts into picking up XRP (as a Canadian)?

 

Seems to be quite convoluted with lots of shady methods.

 

I am currently reading about this. I'm about to dive into XRP but am learning about it ATM.

 

These 2 helped me:

 

https://99bitcoins.com/how-to-buy-ripple-xr...eginners-guide/

 

https://ripple.com/xrp/how-to-buy-xrp-on-bitstamp/

 

Good way is to use BTC to buy XRP.

 

I'm going to give bitstamp a go. Rumors are coinbase is going to support it at the end of Jan. Hope this is true!

as of sat we were at 1/5 of 1% of the global currency invested in crypto. $532 billion..

 

As of today already $612 billion.

 

No one is pulling out.. currencies are exchanging and more and more is getting invested here.

 

I think we are headed to 5% global currencies all being invested in crypto.

 

This is the largest re distribution of funds that will ever occur.. And it isn't from the wealthy to the poor in just the US.

 

This is a re distribution of funds globally. In any way you look at it.

 

 

Thing i find amazing. Is if you are early enough, and acquire enough of the right coin. When all the hedge funds and ultra wealthy are still investing in this stuff and there is 20 trillion invested. I get to take out my stake and happily thank whoever kept putting in funds..

 

It is kind of a ponzi scheme in a way, but as long as it is being used as legal tender, which it currently is in many ways, this is legit and here to stay.

 

I would much rather put in $20k in crypto than put $20k into apple or any other stock.. this at least grows directly in conjunction with the amount invested. Stock doesn't even do that.. hell with stock the company takes most of the investments and spends 90% of it..

 

 

It is kind of a ponzi scheme in a way, but as long as it is being used as legal tender, which it currently is in many ways, this is legit and here to stay.

 

I would much rather put in $20k in crypto than put $20k into apple or any other stock.. this at least grows directly in conjunction with the amount invested. Stock doesn't even do that.. hell with stock the company takes most of the investments and spends 90% of it..

 

All currency is a Ponzi scheme if you think about it...But I agree with investing in this over stocks.

Thanks for your help guys!

 

Looking to buy into Cardano. What is safest exchange to purchase from?

 

I am located in Canada.

 

Thanks!

Just bought 1000 xrp. Thats a serious pain in the ass...

Just bought 1000 xrp. Thats a serious pain in the ass...

 

What are you using to buy xrp?

What are you using to buy xrp?

do you follow me on fb? cause Im seriously not typing that nightmare out again.

do you follow me on fb? cause Im seriously not typing that nightmare out again.

 

 

I signed up for Bitstamp......awaiting for verification of identity. Once I am approved, I will be able to buy XRP with US dollars either via wire transfer or with Bitcoin. I am in the process of obtaining a XRP wallet to store my XRP so its off the exchange. I believe you can also buy thru Changelly (spelling ?) by first buying Bitcoin and exchanging for XRP You will need a XRP wallet to do so. You can also use a CC to buy on that site, but fees are supposedly high and limits are low.....

 

I signed up for Bitstamp......awaiting for verification of identity. Once I am approved, I will be able to buy XRP with US dollars either via wire transfer or with Bitcoin. I am in the process of obtaining a XRP wallet to store my XRP so its off the exchange. I believe you can also buy thru Changelly (spelling ?) by first buying Bitcoin and exchanging for XRP You will need a XRP wallet to do so. You can also use a CC to buy on that site, but fees are supposedly high and limits are low.....

 

I'm having issues with challengly as it's not presently showing xrp, so I will checkout bitstamp