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Post by Soutpeel on Jan 5, 2018 9:27:51 GMT 7
Bitcoin Blasts to Record $10,000 as Bubble Warnings Multiply And then the next day it hit $11,150. This will all end in tears. Eventually....will be those Dutch selling the tulips again... However, i have finally gained the stomach to get into Crypto's set up an account in Thailand and i am taking a punt on Ripple (XRP)...i am capping myself to putting no more than 10k USD into it over time and see where it goes, i could end up losing the lot or if the predictions are correct and realise a couple of hundred USD over time, it will make me rather happy, if it gets into the thousands...well what can i say, except take a dump on the bosses desk
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AyG
Crazy Mango Extraordinaire
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Post by AyG on Jan 5, 2018 9:55:07 GMT 7
i am taking a punt on Ripple (XRP) One has to wonder how many cryptocurrencies the world needs. There are now something like 1400, and the barrier to entry is incredibly low. Virtually all of those 1400 are bound to fail. Actually, the world doesn't "need" any of them. Drug dealers survived perfectly well in the days before Bitcoin by using another way of transferring wealth anonymously. It was called "cash". Unfortunately, people are being dragged in into a speculative bubble of something that is essentially worthless. But then so's gold. I just shake my head ruefully at the folly of humanity.
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Post by Soutpeel on Jan 5, 2018 10:13:00 GMT 7
i am taking a punt on Ripple (XRP) One has to wonder how many cryptocurrencies the world needs. There are now something like 1400, and the barrier to entry is incredibly low. Virtually all of those 1400 are bound to fail. Actually, the world doesn't "need" any of them. Drug dealers survived perfectly well in the days before Bitcoin by using another way of transferring wealth anonymously. It was called "cash". Unfortunately, people are being dragged in into a speculative bubble of something that is essentially worthless. But then so's gold. I just shake my head ruefully at the folly of humanity. Ripple is not a cryptocurrency per se in the same sense as bitcoin, in a lot of respects its the same as swift, in other words it does have a function and "value"...if it is adopted by the central banks, commerical banks then it will really take off... Of course its all speculation and bubbles, but ..if can make money out of it so what ?....i got into this knowing full well i could loose the whole lot so i am prepared for that eventuality As regards how many cryptos does the world need ?...couldnt the same be said about fiat currencies, i mean why do we need USD, GBP etc etc ?
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AyG
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Post by AyG on Jan 5, 2018 12:20:44 GMT 7
Ripple is not a cryptocurrency per se in the same sense as bitcoin, in a lot of respects its the same as swift, in other words it does have a function and "value"...if it is adopted by the central banks, commerical banks then it will really take off... I'm confused. XRP is a cryptocurrency, just like all the others. The difference is that the company behind it, Ripple Labs, also runs a financial network. I presume you've invested in the cryptocurrency, not the company.
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AyG
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Post by AyG on Jan 5, 2018 12:25:10 GMT 7
As regards how many cryptos does the world need ?...couldnt the same be said about fiat currencies, i mean why do we need USD, GBP etc etc ? Currencies are geographically restricted and tied to the country's economy. Look at the disaster that the Euro has been (and before it the ERM), tethering the currencies of fiscally incompetent Greece with the rather less incompetent Germany. The world needs different currencies. I can't see any rational need for more than one cryptocurrency (well, apart from the greed of people behind ICOs).
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Post by realisedurgency on Jan 13, 2018 1:08:49 GMT 7
Peter Schiff making the most sense I've seen him make for a while:
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88
Crazy Mango
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Post by 88 on Jan 13, 2018 6:57:08 GMT 7
Not sure what all the negativity is about? I have been accepting payment in BTC at my business, it works very well. Firstly the customers are extatic they can actually use the new currency, and that it likely cost them cents to buy my 300 US dollar product it makes it feel cheaper for them. Transactions are completed in about 20 minutes. Easy and dare I say, fun. Far better than Paypal where they can refund the price after having recieved the product, at least with BTC its a permanent payment.
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Post by realisedurgency on Jan 15, 2018 1:44:34 GMT 7
What's your business 88? And why are customers ecstatic? I would think most Bitcoin holders do not want to spend their Bitcoin as it is going up in price? What is the advantage to the customer?
I can see from a business perspective irreversibility is nice, but as a customer I'm more ecstatic about the reversibility of Visa, and plus, Visa is instant, no waiting around for confirmations, which took a lot longer than 20 minutes in my experience.
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Post by Soutpeel on Jan 15, 2018 6:26:23 GMT 7
What's your business 88? And why are customers ecstatic? I would think most Bitcoin holders do not want to spend their Bitcoin as it is going up in price? What is the advantage to the customer? I can see from a business perspective irreversibility is nice, but as a customer I'm more ecstatic about the reversibility of Visa, and plus, Visa is instant, no waiting around for confirmations, which took a lot longer than 20 minutes in my experience. But within the visa system isnt that promissory system, an "IOU" for a period of time if you will, ie funds havent actually changed hands, so reversal is easy ?...where as a crypto transfer is an actual transfer of "asset" so to speak ?
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Post by realisedurgency on Jan 15, 2018 10:29:26 GMT 7
Yes on the back end it may take time. But, as a customer buying a product, I don't care about the back end when the front end is instant. I book a hotel, I can check in immediately. I buy an online product I have access immediately, etc. Why would I swap this for waiting an hour for multiple confirmations?
And for customers isn't reversibility a good thing? If someone gains access to my Visa card, it can be frozen and transactions can be reversed. If someone gets access to my private key my funds are gone forever.
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