Do you think bitcoin...

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January 8th, 2018 at 9:11:23 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 121
Posts: 15613
Quote: Aussie
no need to do that on the exchange I use. .


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: 355
Quote: Evenbob
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.



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: 851
Posts: 10166
Quote: Evenbob
No doubt. You live in a postage stamp size country {24 million} with a currency nobody ever heard of.

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)
Country 2014 2016
Switzerland $86,663 $79,877
Australia $61,290 $51,990
Sweden $59,120 $51,476
Singapore $56,009 $52,981
United States $54,707 $57,638
Netherlands $52,138 $45,644
Canada $51,487 $43,571
Germany $48,029 $42,166
Belgium $47,587 $41,338
United Kingdom $46,824 $40,090
France $43,144 $36,980
Hong Kong SAR $40,183 $43,499
Japan $38,154 $38,938
Italy $35,587 $30,819
Korea $27,982 $27,774
Saudi Arabia $25,214 $20,336
Russia $14,504 $8,769
Brazil $12,104 $8,720
Turkey $12,027 $10,817
Mexico $10,909 $8,614
China $7,575 $8,126
South Africa $6,557 $5,361
India $1,610 $1,739


Quote: Evenbob
Whereas the USD, there are more $100 bills outside the US than in it. Our currency runs the world.


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: 121
Posts: 15613
Quote: Pacomartin


How many Benjamin's do you think are circulating outside of the US?


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: 851
Posts: 10166
Quote: Evenbob
Most $100 Bills Live Outside The U.S.




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: 110
Posts: 8660
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 man who damns money has obtained it dishonorably; the man who respects it has earned it
January 9th, 2018 at 6:17:04 PM permalink
Aussie
Member since: May 10, 2016
Threads: 2
Posts: 355
Quote: AZDuffman
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.




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: 851
Posts: 10166
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: 204
Posts: 4838
Quote: Pacomartin
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.


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: 851
Posts: 10166
Quote: Wizard
I'd be interested to see the pros and cons between ETH and Ripple. I understand both are far superior to Bitcoin.


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/
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