Bitcoins/Litecoins/Virtual Currencies

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Blazin

Blazin

Creative Title
<Nazi Janitors>
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Pretty nasty day, but volatility in a new market is to be expected, each time cryptos take a massive beating and then come back it adds to their legitimacy. Not something I would put my money in but I think the same applies as any long term investment in that you should set it and forget it for a reasonable time frame. You invest in an idea or a story and those things really don't normally radically change day to day. If you think it has a future then invest, if something changes on a macro level that shakes that thesis then sure sell but most retail traders are just looking for a quick buck and just like other asset classes they are just going to be taken for a ride. Trading and investing are very much not the same thing.
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Siliconemelons

Siliconemelons

Naxxramas 1.0 Raider
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Oh I don't need to be reminded I am an investment pissy hat, I know it.

I got into penny stocks 7 or so years ago, lost 7500$ (a lot for me then, and now still something hehe) and then was soo passed at myself, watching all the stuff - it was stressing me out crazy- I put in 1200$ of money I did not have in - focused on shit for 2 days - made it all back and 2k - and washed my hands. So because of that I took my potty 30$ and am done lol- I was getting into the same hook with this stuff. That's not a bad thing, it is what it is.

So I know I am a stock pussyhat lol- never denied - also I was in bearish the high- so I may reinvest once it settles- hearing 10-11k is what to expect a settle
 
vGrade

vGrade

Potato del Grande
1,767
2,751
Khane said:
It also doesn't use Blockchain but rather Ripple's payment platform which they are building for and selling to financial institutions with what seems like a main focus on accounting more than anything else. XRP is like some bastardized form of crypto that has none of the benefits of a true crypto and all of the downsides of needing its userbase to drive its value.

But throwing a small amount of money at it in the off chance it quadruples in value isn't really a bad bet. I definitely wouldn't invest big in it though.

The fact they are removing the currency over time is basically them admitting this shit is a scam and they need to artificially inflate its value by removing supply over time.
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Not sure if serious
 
Alex

Alex

Still a Music Elitist
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7,527
So should I buy into this now or will it continue to drop? I'm a complete investment noob but this shit seems like ez mode.
 
Khane

Khane

Got something right about marriage
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vGrade said:
Not sure if serious
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Well what do you mean? I really don't like the idea of XRP. The entire Ripple system, to a layman like me, just seems like a more secure Venmo with its own currency.
 
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Ravishing

Ravishing

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I don't know what he means either...

Bitcoin has about 500 coins for sale at 13600, so price will be stagnant or fall until that supply is bought up, seems to be good support at 12500 right now. Of course all can change if more large sells occur
 
pharmakos

pharmakos

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do you guys think anyone buying in to BTC now will ever do anything more than double-triple their money? i feel like the exponential growth has stalled out.

some of the alt coins might have runaway growth like early BTC did, but i don't think BTC itself will ever rise past $30k or anything.
 
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vGrade

vGrade

Potato del Grande
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it was #3 for a minute. XRP is the only coin in the green this whole time during the massive correction. If you buy as much as you can afford and hold it’s a good bet you can make some money. How much is up to the crypto gods, Just don’t panic and sell when it goes down. Ripple (and XRP) has the highest potential to come out as an Amazon or Google in Crypto 2.0, which is why I am in it for the long term. If it cannot be mined doesn't matter, in the end. Eventually all the coins will be mined in Bitcoin anyway. XRP just jumped ahead a few decades.
 
Khane

Khane

Got something right about marriage
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I agree with you that Ripple has great potential as a company and a payment protocol. But it is being packaged and sold to financial institutions primarily as a settlement system.

It's not anything like Bitcoin or other cryptos. As such I don't think XRP is going to take off because it's not anonymous at all. It's the antithesis of what all other legitimate cryptos are striving to do.

It's got a huge market cap and is still only $1.10. Could I be wrong? Absolutely. But it seems to me Ripple is for bankers, not consumers.
 
Khane

Khane

Got something right about marriage
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vGrade said:
XRP: Journey To Number One
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This article sums everything about XRP that I believe will make it fizzle out as consumer contender. Everything he talks about has to do with being a bridge currency (something only banks will be interested in) and corporate savings.

EDIT: I do think it will see a significant uptick in price at some point. Maybe even to the $10 range. But I think it will be short lived and I definitely wouldn't bet the farm on it. It's one of those things though... it's only $1.10 so why not just throw $1k at it and see where it takes you?
 
vGrade

vGrade

Potato del Grande
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Khane said:
This article sums everything about XRP that I believe will make it fizzle out as consumer contender. Everything he talks about has to do with being a bridge currency (something only banks will be interested in) and corporate savings.

EDIT: I do think it will see a significant uptick in price at some point. Maybe even to the $10 range. But I think it will be short lived and I definitely wouldn't bet the farm on it. It's one of those things though... it's only $1.10 so why not just throw $1k at it and see where it takes you?
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Thats exactly what I did when it was at 20 cents. Not trying to get rich off of it.
 
Siliconemelons

Siliconemelons

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My bro just joined coinbase and has instant buys... I have had it for a while and a confirmed bank...and my buys all process and "arrive" in 3-6 days...wtf
 
Pops

Pops

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I'm too old for this game.The big money has been made.

When the people were lining up to buy gold in the '80's it was the end of the run. When the bouncers at strip clubs where bragging about day trading, it was the end. Bullshit stocks say blocktrade, quintiple in days, it's the dot com run all over again.



An ad on CNBC back in the tech bubble.
 
vGrade

vGrade

Potato del Grande
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2,751
Although "payments" and "bridge currency" is it's main use case, Ripple has firm plans for using XRP for micropayments.

And if you know anything about micropayments, you know that they are mostly used in consumer apps.
 
Arative

Arative

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pharmakos said:
do you guys think anyone buying in to BTC now will ever do anything more than double-triple their money? i feel like the exponential growth has stalled out.

some of the alt coins might have runaway growth like early BTC did, but i don't think BTC itself will ever rise past $30k or anything.
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There are quite a few analyst that claim Bitcoin will be $40000 by the end of 2018. I've seen a few claim $100k in 2020.

Who knows really. As with any investment, you have to know your risk. Lots of people will just tell you to hold and keep holding or hodl as they call it.
 
gshurik

gshurik

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<Gold Donor>
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pharmakos said:
do you guys think anyone buying in to BTC now will ever do anything more than double-triple their money? i feel like the exponential growth has stalled out.

some of the alt coins might have runaway growth like early BTC did, but i don't think BTC itself will ever rise past $30k or anything.
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If your grandma knows about it, it's too late unless you're very good at following market trends.

It was a really safe gamble in the past, now it's a lot more iffy imo.
 
Khane

Khane

Got something right about marriage
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gshurik said:
If your grandma knows about it, it's too late unless you're very good at following market trends.

It was a really safe gamble in the past, now it's a lot more iffy imo.
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This isn't true.

It's if your grandma wants to invest in it it's too late.

It was a safe gamble in the past because you could throw a couple hundred bucks at it and just let it be. Who cares for that kinda money. If you dumped $20k into bitcoin in 2015 you were a lunatic. But you'd have "fuck you" money now.
 
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