Do you think bitcoin...

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January 7th, 2018 at 11:43:49 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 118
Posts: 14599
Quote: Pacomartin


Ripple has gone from a market cap of $1 billion on April 2 and exploded to $123 billion .


And there you go. What has exploded
one way can explode the other way
just as fast. In the early days of the
1849 gold rush, claims were selling for
small fortunes. 2 years later you couldn't
give them away. But the value of the
gold itself remained steady, as it does
today.
If you take a risk, you may lose. If you never take a risk, you will always lose.
January 8th, 2018 at 12:39:00 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 822
Posts: 9887
Quote: Evenbob
And there you go. What has exploded one way can explode the other way just as fast.


Ripple lost 25% in 24 hours. The third worst of 1387 cryptocoins

The smallest cryptocoin has a market cap of $362 million. Four of them sell coins or tokens for less than a penny.
January 8th, 2018 at 12:59:36 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 118
Posts: 14599
Quote: Pacomartin
Ripple lost 25% in 24 hours. The third worst of 1387 cryptocoins
.


There's no 'there' there in crypto. Anything
can happen and probably will. It's just another
type of Ponzi like scheme.
If you take a risk, you may lose. If you never take a risk, you will always lose.
January 8th, 2018 at 1:38:58 PM permalink
SOOPOO
Member since: Feb 19, 2014
Threads: 7
Posts: 485
Quote: Pacomartin
Ripple lost 25% in 24 hours. The third worst of 1387 cryptocoins

The smallest cryptocoin has a market cap of $362 million. Four of them sell coins or tokens for less than a penny.


My friend's son, quite bright, is working to develop his own cryptocoin. The kid will likely be worth more than any of us in a few years. If he gets it to be the worst cryptocoin at 250 million I think he will be content.
January 8th, 2018 at 1:54:53 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 118
Posts: 14599
Quote: SOOPOO
If he gets it to be the worst cryptocoin at 250 million I think he will be content.


But it's Monopoly money, you can't
spend it anywhere. It's all on paper
and in people's heads. Would you
sell your house for crypto money you
never even heard of? How would you
feel if the check you get for being
a doctor was worth a different amount
every week.
If you take a risk, you may lose. If you never take a risk, you will always lose.
January 8th, 2018 at 2:02:55 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 822
Posts: 9887
Quote: SOOPOO
My friend's son, quite bright, is working to develop his own cryptocoin. The kid will likely be worth more than any of us in a few years. If he gets it to be the worst cryptocoin at 250 million I think he will be content.


I don't know what percentage (probably single digits) of the coin you can keep for yourself before it is an actual Ponzi scheme. I believe that Bitcoin founder kept 10%.
January 8th, 2018 at 2:05:41 PM permalink
beachbumbabs
Member since: Sep 3, 2013
Threads: 5
Posts: 1465
Quote: Pacomartin
Ripple coins trade for $3.38 USD and the Max Supply is 100 billion XRP (unlike Bitcoin which stops at 21 million BTC).

Released in 2012, Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks." It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes.

At its core, Ripple is based around a shared, public database or ledger, which uses a consensus process that allows for payments, exchanges and remittance in a distributed process.

Since 2013, the protocol has been adopted by an increasing number of financial institutions to "[offer] an alternative remittance option" to consumers. Ripple allows for cross-border payments for retail customers, corporations, and other banks, and Larsen was quoted stating that "Ripple simplifies the [exchange] process by creating point-to-point and transparent transfers in which banks do not have to pay corresponding bank fees."


Ripple has gone from a market cap of $1 billion on April 2 and exploded to $123 billion (second only to Bitcoin in value) because it has far more flexibility to be used as payment system.


This might explain something that happened last May.

Amex called me urgently, to tell me I'd been hacked on my Optima account. Not to charge stuff or take cash advances. But to steal 60k points in the account. (Value $600).

I thought it was really odd for the thieves to do ONLY that. But Amex said they had drained thousands of accounts thru a system flaw.

I didn't know how that was supposed to work out for them, as Amex would have to be the redeeming party, so some account with millions of points would have to set off alarms everywhere.

BUT, if those points had negotiable value on a 3rd party exchange, that would dramatically increase their value. Wow.

As it was, Amex apparently was able to trace back and nullify those points. They did restore 100% of them to my account immediately, although at that time they didn't yet have the points back from the thieves. Which is why I've been a member since 1986...lol.
Never doubt a small group of concerned citizens can change the world; it's the only thing ever has
January 8th, 2018 at 2:15:27 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 108
Posts: 8077
Quote: Evenbob
But it's Monopoly money, you can't
spend it anywhere.


Incorrect. Acceptance is indeed small but growing.
The man who damns money has obtained it dishonorably; the man who respects it has earned it
January 8th, 2018 at 2:49:49 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 118
Posts: 14599
Quote: AZDuffman
Incorrect. Acceptance is indeed small but growing.


What can you buy with Ripple, I can't
find anything.

This is just today:

Cryptocurrencies are Falling, Led by Ripple, Bitcoin

https://www.cnbc.com/2018/01/08/cryptocurrency-ripple-crashes-30-percent-in-24-hours-bitcoin-also-dropping.html
If you take a risk, you may lose. If you never take a risk, you will always lose.
January 8th, 2018 at 3:40:03 PM permalink
Aussie
Member since: May 10, 2016
Threads: 2
Posts: 327
Quote: Evenbob
What can you buy with Ripple, I can't
find anything.

This is just today:

Cryptocurrencies are Falling, Led by Ripple, Bitcoin

https://www.cnbc.com/2018/01/08/cryptocurrency-ripple-crashes-30-percent-in-24-hours-bitcoin-also-dropping.html



You can buy USD, AUD, probably any fiat currency you like with Ripple. As AZD said, acceptance for other goods and services is increasing.

They go up and down wildly all the time. Means nothing. When I bought Ripple a month ago it doubled in price in about a week. Then dropped a third. Then tripled in price in a week. Let us know when it goes back to a few cents. Then the headline will be worth reading.
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