Is anyone in the BITCOIN market?

how are you purchasing ripple?

 

Combination of methods/exchanges. I originally purchased the majority using Kraken, sending funds directly from my bank account, and then used the USD/XRP pairing to buy. I've also purchased some using Coinbase, by buying either Bitcoin, Ethereum, or Litecoin, and then transferring to Poloniex. Once at Poloniex I sold off into USD tether, and then purchased via the XRP/USDT pair. I prefer the Poloniex exchange for trading purposes.

Combination of methods/exchanges. I originally purchased the majority using Kraken, sending funds directly from my bank account, and then used the USD/XRP pairing to buy. I've also purchased some using Coinbase, by buying either Bitcoin, Ethereum, or Litecoin, and then transferring to Poloniex. Once at Poloniex I sold off into USD tether, and then purchased via the XRP/USDT pair. I prefer the Poloniex exchange for trading purposes.

thank you

Combination of methods/exchanges. I originally purchased the majority using Kraken, sending funds directly from my bank account, and then used the USD/XRP pairing to buy. I've also purchased some using Coinbase, by buying either Bitcoin, Ethereum, or Litecoin, and then transferring to Poloniex. Once at Poloniex I sold off into USD tether, and then purchased via the XRP/USDT pair. I prefer the Poloniex exchange for trading purposes.

 

 

I bet you lost a lot of people with that.

for those 'in the know' what are the best/most reliable forums for crypto?

 

Browsing the various Reddit forums for each is a decent way to gather info. I've found there's usually a sub reddit for most of them. You do have to read between the lines a bit, as obviously each one will be somewhat biased. As I'm most bullish on XRP, I spend the majority of my time in that community. There's a great forum for it with a wealth of information, XRPchat.com.

 

Also bitcointalk.org has been around basically since Bitcoin's inception.

I bet you lost a lot of people with that.

 

Lol - yeah there's still a little bit of a learning curve for the average person to get into crypto. I'm really hopeful Coinbase will add it, as that's the easiest method. Log on, add funds, buy desired amount. Bitstamp.net probably remains the most painless method as far as XRP is concerned. Someone else mentioned Binance, which may also offer a similar experience.

 

The good news is as crypto goes more and more mainstream, the barriers to entry will fall. The better news is that because of that, the market cap still stands to grow exponentially by default for anyone just getting in now.

If you sign up with binance.com use this link. It's a referral link

 

https://www.binance.com/?ref=12861308

Does anyone think that Ripple's value is somewhat limited by the process of purchasing? Buying bitcoin, lite, and ethereum are easier than ever through coinbase and I'm sure that's driving value up. But I guess that's a good sign to get in before becomes easy to purchase. if it IS added to coinbase then expect another surge.

Does anyone think that Ripple's value is somewhat limited by the process of purchasing? Buying bitcoin, lite, and ethereum are easier than ever through coinbase and I'm sure that's driving value up. But I guess that's a good sign to get in before becomes easy to purchase. if it IS added to coinbase then expect another surge.

 

Let's hope that is the case. Waiting on my verification to go through right now so I can get some.

Let's hope that is the case. Waiting on my verification to go through right now so I can get some.

Ugh, I lost my license and my Passport is expired. I don't really want to wait for my new license to come. Wonder how else i can do this since I want to purchase asap

Where's the best and safest place to buy Ripple?

Where's the best and safest place to buy Ripple?

 

I'd give bitstamp.net a try. Here is a guide:

 

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

 

For other options:

 

https://ripple.com/xrp/buy-xrp/

Good info.

 

I don't think anyone can deny this feels like a real bubble. I'm sure there are plenty investors on the sidelines waiting for a big dip to buy in. On that note, who's shorting? With TD now allowing futures trading this can be shorted on a massive scale by more sophisticated investors.

 

I think getting into crypto for the long term is a good move. This is definitely here to stay.

I'd give bitstamp.net a try. Here is a guide:

 

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

 

For other options:

 

https://ripple.com/xrp/buy-xrp/

here in mexico we use Bitso

 

easy and reliable

Good info.

 

I don't think anyone can deny this feels like a real bubble. I'm sure there are plenty investors on the sidelines waiting for a big dip to buy in. On that note, who's shorting? With TD now allowing futures trading this can be shorted on a massive scale by more sophisticated investors.

 

I think getting into crypto for the long term is a good move. This is definitely here to stay.

 

I too was worried about people being able to short bitcoin. But looking into it they are cash settled futures which require 40%+ margin and will only be issued if another party will but the corresponding order on the other side.

 

So as much as I dont think it will stop manipulation, I don't think it's as big if a risk as I initially feared.

 

As for people waiting in the wings, in sure there are heaps of people with cash to buy in on a 40% drop, there seems to be a lot of support at 10 & 20% levels these days. And with xmas upon us, I suspect we will see a similar surge of retail investing as happened after thanks giving.

 

But I'm bullish on btc. I've also covered my position so I have no risk, so don't mind if it drops. But if I we're a new buyer at current prices I would definitely be cautious.

Bought a significant amount around the same levels. I believe XRP/Ripple will become dominant in 2018. It's been "hated" on in general by the crypto community, because they have been working with the establishment, instead of against it. Logically however, they are on the right path, and the tech is first class. It's the only crypto with real enterprise customers, and an extremely focused use case. They are also way ahead of the curve regulation wise, which will inevitably find it's way into this space.

 

I know someone here asked about Stellar. It's basically an XRP clone. Read up on Jed McCaleb and his departure from Ripple. He basically forked the Ripple code, and tried to call it his own. He had issues and had to rebuild it, but it's essentially the same concept. The guy comes across as a complete jackass. He was the original creator of Mt GOX, and even though he sold it to the guy that eventually went down with it, several believe the issues started with him. BOA also backed out from pairing up with Ripple in the early days, strictly because Jed was associated.

 

BTW - For anyone interested, they have made strides this year. Ripple recently partnered with AMEX, with an aim to utilize XRP down the road. They also have over 100 of world's largest banks on their messaging software, RippleNet. They're slowly building the foundation right under everyone's noses, and soon a significant amount of banks will be on the same software, which makes using the native asset XRP a no brainer (using Ripplenet alone saves 30% for cross border payments, combined with XRP, it's 60+ %). The tech is able to accommodate 1500 transactions a second, with said transactions costing a fraction of a cent. Today, 61 banks in South Korea and Japan began testing cross border payments utilizing Ripple's blockchain technology, with plans to go live using XRP in the spring of 18'.

 

Furthermore, I'm a part of an excellent & connected Ripple chat community, in which David Schwartz, who is the Chief Cryptographer, and original architect of the Ripple ledger/XRP, regularly interacts with. When asked about upcoming partnerships this last week, he commented that while he couldn't go into the details, there are two huge household names, non-banks, soon to be announced (think possibly Visa/Mastercard, perhaps even Amazon, etc).

 

Anyone here who has sent a cross border payment will be able to attest to the time/cost it takes. Yes, there is a huge supply at 100 billion coins, but you have to account for the fact that the amount of daily international remittance is in the trillions. If they are able to capture even half of that market, the price per coin will be significant.

 

IMO, Ripple is a sleeping giant. Take it for what it's worth.

 

 

You just blew my mind, thank you for this post. I finally kind of get crypto currency. Ive always thought of it "cash VS crypto" but it's actually Cash AND Crypto. It doesn't matter how much it's worth, what matters is that you will accept it (spread), and the speed+fees with which we send to each other. It's a...currency! Excuse my possibly stupid question - that cheap processing fee - is that paid in a fraction of a ripple coin?

long on XRP!

You just blew my mind, thank you for this post. I finally kind of get crypto currency. Ive always thought of it "cash VS crypto" but it's actually Cash AND Crypto. It doesn't matter how much it's worth, what matters is that you will accept it (spread), and the speed+fees with which we send to each other. It's a...currency! Excuse my possibly stupid question - that cheap processing fee - is that paid in a fraction of a ripple coin?

 

 

The thing I don't get is this.

 

Lets say that your ripple is growing at 40% per month. And you want to purchase a hamburger for $10. Why would you pay with ripple knowing that in one year that $10 you spent would now be worth whatever $50 or so.

 

It would make more sense to leave the ripple where it is at and pay cash for the hamburger.

The thing I don't get is this.

 

Lets say that your ripple is growing at 40% per month. And you want to purchase a hamburger for $10. Why would you pay with ripple knowing that in one year that $10 you spent would now be worth whatever $50 or so.

 

It would make more sense to leave the ripple where it is at and pay cash for the hamburger.

 

 

the purpose of XRP is more about instantaneous transfer and low fee.

 

instead of using SWIFT to xfer money overseas you can just send XRP instantaneously and for little fee.

You just blew my mind, thank you for this post. I finally kind of get crypto currency. Ive always thought of it "cash VS crypto" but it's actually Cash AND Crypto. It doesn't matter how much it's worth, what matters is that you will accept it (spread), and the speed+fees with which we send to each other. It's a...currency! Excuse my possibly stupid question - that cheap processing fee - is that paid in a fraction of a ripple coin?

 

No problem - the price is paid in a fraction of XRP, or what is referred to as a "drop". The current minimum transaction fee is 10 drops, or .00001 XRP. This transaction cost is only intended to to prevent spam on the network, or someone from creating a denial-of-service attack. The cost is designed to increase with load on the network, making it prohibitively expensive to deliberately or inadvertently overload the network.

 

To expand on your cash vs fiat comment, for Bitcoin it could be argued that it's aim is to attempt to replace fiat, being a decentralized currency where individuals essentially become their own banks, as they hold their own money, and the network validates the transaction. In terms of Ripple/XRP, your comment is more accurate. XRP is intended to be a bridge currency/asset, which operates on the Ripple ledger, and is executed via the consensus protocol, which is Ripple's version of the blockchain. Ripple's goal is to enable what they call the "Internet of Value", which is to say they want to achieve making money move like information does over the internet today. Currently banks have hold large nostro and vostro accounts of various fiats to convert incoming/outgoing international wires. With XRP, the idea is that they will only need to hold it in place of all of these different fiats. In simple terms, whenever a wire is sent, they will simply convert fiat to XRP, the transaction happens digitally in seconds, for a fraction of a penny, and then the receiving bank will convert XRP to the desired fiat, and vice versa.

 

The application can even extend to payments for international companies, such as Uber or Air BNB. When Uber wants to pay a driver in a different country, it's not currently possible to achieve this quickly or cost efficiently. With XRP, they could execute and convert to the desired fiat for a fraction of a cent, and almost instantly. Similar for Air BNB, currently they have to sit on all of these reserves of foreign currencies to allow patrons to pay hosts across the globe. Alternatively, they could just sit on a large pool of XRP and convert payments in and out of the requisite currency.

 

There's so much I left out of my original post. Ripple is covering a lot of ground right now. I encourage anyone interested to peruse www.ripple.com/insights/ to read up on everything they have been working on lately.

 

Also, for anyone trying to understand how Bitcoin, blockchain, and how Ripple's consensus protocol/ledger works, here is a video of David Schwartz from Ripple giving a great blockchain software development presentation, that explains it well:

 

The thing I don't get is this.

 

Lets say that your ripple is growing at 40% per month. And you want to purchase a hamburger for $10. Why would you pay with ripple knowing that in one year that $10 you spent would now be worth whatever $50 or so.

 

It would make more sense to leave the ripple where it is at and pay cash for the hamburger.

 

Looney covered it in general, but refer to my reply to Rawr above for more detail. XRP is mainly intended to be a bridge currency/asset, not to replace fiat.

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

Six months ago there were roughly 800 crypto currencies, as of this morning there are 1360 of them.

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.

It would not surprise me what so ever if there was a significant pull back across the board on all of these after the new year as people that have been holding them in excess of one full year lock in their profits in 2018. I would categorize these type of high risk investors as the rinse and repeat speculative investors that will buy and hold for at least one year in order to minimize their tax liability to 20%, otherwise it just doesn't make sense.

This is the only way I could see buying into this circus with a small amount of some through away money.

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.

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

Six months ago there were roughly 800 crypto currencies, as of this morning there are 1360 of them.

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.

It would not surprise me what so ever if there was a significant pull back across the board on all of these after the new year as people that have been holding them in excess of one full year lock in their profits in 2018. I would categorize these type of high risk investors as the rinse and repeat speculative investors that will buy and hold for at least one year in order to minimize their tax liability to 20%, otherwise it just doesn't make sense.

This is the only way I could see buying into this circus with a small amount of some through away money.

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.

 

While I agree that the vast majority of these coins are scams and digital trash that will be worth zero in a not significantly long period of time, I believe you're wrong about the risk/reward.

 

The reward far outweighs the risk. There are very few options for such gains in traditional stocks. Maybe you'll get lucky and spot the next Nvidia or buy something like Netflix when it got sold off to $10 back in 2013, but it's very unlikely. The trend of crypto currencies jumping enormously is far most likely in this environment.

 

I wouldn't consider tax liability to be important because you only have a tax liability if you profit. Profit is better than no profit, and if you profit 250% in 3 months, does it really matter if you're paying 35% taxes? That gives you another 9 months to get back into whatever speculative mainstream asset you thought was better in the first place, except with far more money.

long on XRP!

 

What are you using to purchase XRP?

 

I agree with Redlambo. Also agree with exitr.

 

Doesn't really matter to me, have never seen anything like this myself, great time to take advantage of it and make money. Once in a lifetime, possibly. It will all be sorted later.

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

Six months ago there were roughly 800 crypto currencies, as of this morning there are 1360 of them.

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.

It would not surprise me what so ever if there was a significant pull back across the board on all of these after the new year as people that have been holding them in excess of one full year lock in their profits in 2018. I would categorize these type of high risk investors as the rinse and repeat speculative investors that will buy and hold for at least one year in order to minimize their tax liability to 20%, otherwise it just doesn't make sense.

This is the only way I could see buying into this circus with a small amount of some through away money.

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.

 

I wholeheartedly agree. I think it's been best described as .COM 2.0. Many are simply money grabs and will eventually disappear, the few left once the dust settles will change the world. Anyone getting in for long term holds should definitely perform their due diligence. Fundamentals, real use cases, and utility are key. As with any investment, don't be foolish and put in more than you are willing/able to lose.

 

In the meantime however, short term you can easily make 2-3x your money by trading the widespread mania and heavy speculation.

The thing I don't get is this.

 

Lets say that your ripple is growing at 40% per month. And you want to purchase a hamburger for $10. Why would you pay with ripple knowing that in one year that $10 you spent would now be worth whatever $50 or so.

 

It would make more sense to leave the ripple where it is at and pay cash for the hamburger.

 

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?