Do you think bitcoin...

January 8th, 2018 at 5:21:29 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 850
Posts: 10144
Quote: Aussie
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.


As I understand it was 5 cents on 1 May 2017 and 25 cents on December 10th is now $2.52. so that is over 30X in just over 8 months.

You said a month ago so did you get it for less than a quarter?
January 8th, 2018 at 5:25:59 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 54
Posts: 6399
It is like trading certificates for a bottle of wine. You make your money on the certificate and if at some later time they actually issue the bottle of wine it doesn't matter much if its vinegar or wine. So its really a long term investment but if you make enough money on those certificates, you go out and buy your own wine anyway.

Trouble is I read something about China declaring all to be unstable currencies and vowing to un-mine them.
January 8th, 2018 at 5:49:56 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 850
Posts: 10144
Quote: Fleastiff
Trouble is I read something about China declaring all to be unstable currencies and vowing to un-mine them.


The China edict only created a short term instability in crypto currencies. One issue is that China is seriously considering replacing their paper currency with an electronic currency, and they probably don't want their citizens confusing the two.

Sweden may begin issuing electronic currency this year. Their banknotes differ in value from Euro banknotes by less than 2%, but they are only circulating about 20 banknotes per capita (and five of them are a substituted with a coin in all Western Europe).

Sweden's Banknote value in Euros: Circulation in banknotes per capita
2.04 :5.0 a coin in Norway, Denmark, Iceland, United Kingdom, Switzerland, Czech Republic, and Euro Zone
5.09 :2.0
10.18 :3.0
20.36 :3.2
50.90 :6.1
101.81 :0.3 very rarely seen in circulation. This banknote seems to only exist to keep traditionalists happy.

If Sweden fixes the exchange rate with the Euro then their electronic currency will be popular throughout the world.
January 8th, 2018 at 7:07:51 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 121
Posts: 15568
Quote: Aussie
You can buy USD, AUD, probably any fiat currency .


I'm not seeing that with Ripple. You can buy
a few weird things, like vaping products,
and VPN's, and honey from Portugal, or
music online. Things that have very little
real value.

"XRP is still a long way from being as widely accepted as coins such as bitcoin, Litecoin or Ethereum. It was never the goal to use Ripple as a payment method. Instead the aim has always been to use XRP to grease the wheels, in order to make fiat money transfers easier, faster and more secure."

You can use Ripple mostly to buy other
crypto currencies. The more I read, the
more of a scheme the whole thing sounds
like. Make a few people wealthy at the
expense of everybody else. Charles Ponzi.
If you take a risk, you may lose. If you never take a risk, you will always lose.
January 8th, 2018 at 7:22:38 PM permalink
Aussie
Member since: May 10, 2016
Threads: 2
Posts: 355
Quote: Evenbob
I'm not seeing that with Ripple. You can buy
a few weird things, like vaping products,
and VPN's, and honey from Portugal, or
music online. Things that have very little
real value.

"XRP is still a long way from being as widely accepted as coins such as bitcoin, Litecoin or Ethereum. It was never the goal to use Ripple as a payment method. Instead the aim has always been to use XRP to grease the wheels, in order to make fiat money transfers easier, faster and more secure."

You can use Ripple mostly to buy other
crypto currencies. The more I read, the
more of a scheme the whole thing sounds
like. Make a few people wealthy at the
expense of everybody else. Charles Ponzi.





You can easily sell Ripple for Fiat currency. There is plenty of liquidity. If I wanted to sell mine I would have it in my bank account as AUD the next business day. I can then use that to buy whatever I want. The issue of course is the volatility.
January 8th, 2018 at 7:28:16 PM permalink
Aussie
Member since: May 10, 2016
Threads: 2
Posts: 355
Quote: Pacomartin
As I understand it was 5 cents on 1 May 2017 and 25 cents on December 10th is now $2.52. so that is over 30X in just over 8 months.

You said a month ago so did you get it for less than a quarter?



Delays by the exchange in processing my cash deposit meant I missed getting in that low. However, I bought 762 and change Ripple @AUD0.88 on 14 December.

Also bought Litecoin @AUD213.29 & Etherium @AUD640.07. We wont talk about the Bitcoin I bought. Is basically at the same price.
January 8th, 2018 at 7:29:59 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 121
Posts: 15568
Quote: Aussie
You can easily sell Ripple for Fiat currency.


How? I google 'How to buy USD with ripple' and see
nothing but sites that tell me how to buy RIPPLE
with USD, not the other way around. Pages and
pages of it.
If you take a risk, you may lose. If you never take a risk, you will always lose.
January 8th, 2018 at 7:32:34 PM permalink
Aussie
Member since: May 10, 2016
Threads: 2
Posts: 355
Quote: Evenbob
How? I google 'How to buy USD with ripple' and see
nothing but sites that tell me how to buy RIPPLE
with USD, not the other way around. Pages and
pages of it.




The same way you sell anything on an exchange. You put your order in and click your mouse. Then you instruct the exchange to send the money to your bank account.
January 8th, 2018 at 7:48:02 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 121
Posts: 15568
Quote: Aussie
The same way you sell anything on an exchange.


All I can find is you have to buy Bitcoin
with ripple, and then sell the Bitcoin
for USD. What a pain in the ass. There
no chance this won't make it long term.
Snicker and guffaw.
If you take a risk, you may lose. If you never take a risk, you will always lose.
January 8th, 2018 at 8:00:01 PM permalink
Aussie
Member since: May 10, 2016
Threads: 2
Posts: 355
Quote: Evenbob
All I can find is you have to buy Bitcoin
with ripple, and then sell the Bitcoin
for USD. What a pain in the ass. There
no chance this won't make it long term.
Snicker and guffaw.



I cant speak for US-based exchanges but there is certainly no need to do that on the exchange I use. Can buy and sell any of the cryptos that they trade for cash or other cryptos. Bitcoin, Bitcoin cash, Etherium, Etherium Classic or Ripple. Its all the same. If I want to cash in my Ripple it will take less a minute to have it on its way to my AUD bank account.