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Do you think bitcoin...
| January 8th, 2018 at 9:11:23 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 |
No doubt. You live in a postage stamp size country {24 million} with a currency nobody ever heard of. An AUS dollar will get you 75 cents worth of milk in the US. You can probably find an exchange that will trade you jellybeans for your dollar. Whereas the USD, there are more $100 bills outside the US than in it. Our currency runs the world. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| January 8th, 2018 at 9:56:32 PM permalink | |
| Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 |
No one heard of the AUD? You better tell that to all the FX traders out there who managed to make the USD/AUD one of the top traded pairs in the world. But what has this got to do with your inability to work out how to sell Ripple directly for USD exactly? Only took me a few seconds to find out how to do it. Not sure why someone of your internet experience was unable to. |
| January 8th, 2018 at 10:43:15 PM permalink | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
There are a couple of postage stamp size countries with a very high GDP per person that don't use EURO, USD, or JPY: Australia, Singapore, Switzerland, and Sweden for example. GDP per capita (USD)
Circulation levels are about 38 Benjamin Franklin's per capita and about 5 Ulysses S. Grant's per capita. How many Benjamin's do you think are circulating outside of the US? Would you guess twenty five per capita? It is a hotly debated topic as some people believe many of them are in the underground US economy. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| January 8th, 2018 at 11:02:33 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25011 |
Most $100 Bills Live Outside The U.S. https://www.npr.org/sections/money/2013/04/12/177051690/most-100-bills-live-outside-the-u-s If you take a risk, you may lose. If you never take a risk, you will always lose. |
| January 8th, 2018 at 11:12:17 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
 So, using this chart as a guess, out of total circulating 38 Benjamins per capita in the USA possibly only 8-10 are actually circulating domestically. So our greatest export is probably $100 bills, as I don't think anything else we sell is worth that kind of money. The $50 banknote is circulating at 5 Grants per capita, so while some of these are outside of the country, the relative importance is minimal. I wonder how many 50€, 100€, 200€, and 500€ banknotes are circulating outside of the EU? Circulation levels at end of 2016 500€ :1.6 banknotes per capita 200€ :0.7 banknotes per capita 100€ :7.1 banknotes per capita 50€ :27.1 banknotes per capita 3000€ per capita in four largest denomination banknotes |
| January 9th, 2018 at 5:47:53 AM permalink | |
| AZDuffman Member since: Oct 24, 2012 Threads: 135 Posts: 18204 | Just saw a stat last night said 1.5% of the population owns Bitcoin but 20% has plans to. Plus getting institutional interest. We have not yet even entered a bubble. The President is a fink. |
| January 9th, 2018 at 6:17:04 PM permalink | |
| Aussie Member since: May 10, 2016 Threads: 2 Posts: 458 |
This is essentially why I have bought. There is still only a very very small number of people holding it. Demand can only go up. With supply limited to a set number of coins the price must go up with the demand. |
| January 9th, 2018 at 8:59:42 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 | Ethereum (ETH) is now on a tear priced at $1,400 (up from $10 a year ago). It has completely replaced Ripple in the #2 spot. |
| January 9th, 2018 at 9:03:17 PM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
I'd be interested to see the pros and cons between ETH and Ripple. I understand both are far superior to Bitcoin. Knowledge is Good -- Emil Faber |
| January 9th, 2018 at 9:47:12 PM permalink | |
| Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569 |
Maximum number of transactions Bitcoin: 7 per second Ethereum : 15 per second. Ripple: 1500 transactions per second. Ethereum can be considered slightly different to the other two currencies, being geared towards complicated interactions between several parties rather than consumer payments. CNBC has noted that it provides numerous potential uses, such as reconciliation, enabling smart contracts to be distributed on the Ethereum network. Personally, I still don't see what the limited number of Bitcoins (21 million btc= 2.1 billion satoshi) has to do with anything realistic. One satoshi is the finest amount that can be recorded in the block chain. Ripple is limited to 100 billion Ripple Transaction Protocol (XRP) https://ripple.com/ |