Cryptocurrencies Part II - No more forks for you

[YNWA14]

Is there a list of trusted coin trading sites that you guys would recommend? I saw bitstamp and Kraken along with Coinbase but I'm looking to go heavy on Ripple and sooner than later so I just want to make sure I'm going about it the right way.

 

[The Crypto Guy]

Is there a list of trusted coin trading sites that you guys would recommend? I saw bitstamp and Kraken along with Coinbase but I'm looking to go heavy on Ripple and sooner than later so I just want to make sure I'm going about it the right way.

I wouldn't go heavy on Ripple. I have some from when it was .25 but there is a long list of other coins I'd go hard into before them.

I believe I used Liqui to buy them there. Very shady exchange though so I wouldn't recommend it.

 

[YNWA14]

I'm not looking for a short term investment though. I'm not really interested in doing a lot of trading; I'm going to buy a bunch of Ripple and sit on it because I think it has the biggest future. That's why I'm just making sure that I can get the most secure avenue to buy in.

 

[void]

Is there a list of trusted coin trading sites that you guys would recommend? I saw bitstamp and Kraken along with Coinbase but I'm looking to go heavy on Ripple and sooner than later so I just want to make sure I'm going about it the right way.

You can get some Ripple on Binance. It's my favorite exchange at the moment - it's very secure and they offer a wide range of coins.

Check it out: https://www.binance.com/

I wouldn't recommend putting everything on Ripple tho... Make sure you do a lot of research before making such a decision.

 

[void]

Well, me buying all that REQ the other day really paid off. It's at $0.27 now.

It's been a great two weeks for my whole portfolio.

 

[YNWA14]

I appreciate the response but on a quick look Binance only supports crypto? How would I go about buying then since I don't have any yet? This will be my first investment so I'm probably going to need a site that supports money.

 

[void]

I appreciate the response but on a quick look Binance only supports crypto? How would I go about buying then since I don't have any yet? This will be my first investment so I'm probably going to need a site that supports money.

Bitstamp offers XRP/USD but I can't offer an opinion on the site since I've never tried it.

As for Binance (or any other exhange), you'd need to buy some bitcoin on a site like Coinbase and then transfer it to the exchange. Once you do that you'll be set to buy/sell any coin you want.

But like I said before.. Make sure you do some proper research before entering the crypto world. Also, my advice is to only invest an amount that you'd be ok with losing. Crypto is very risky.

 

[YNWA14]

Yeah I've been researching since October and I'm very confident in Ripple for a lot of reasons. Just trying to figure out the best way of purchasing it. Still researching 'brokers'.

 

[The Crypto Guy]

Not sure what you see so good in it compared to MUCH better projects, but to each their own and it’s your money.

 

[YNWA14]

Not sure what you see so good in it compared to MUCH better projects, but to each their own and it’s your money.

There are a few things I really like about it; what problems do you have with their project in relation to others?

EDIT: I wanted to get into it last week at 25 cents...looks like I missed the boat on that one. Is there any chance that it's going to see a dive over Christmas? I might wait to buy unless this jump is likely to just hold and continue.

 

[YNWA14]

Out of curiosity, someone I know seems to think that Bitcoin is controlled by criminals in China and says that if any group controls 50.1% of the blockchain they control the chain itself and it's essentially just a giant scam.

Is there anything out there in depth that refutes this?

 

[The Crypto Guy]

Out of curiosity, someone I know seems to think that Bitcoin is controlled by criminals in China and says that if any group controls 50.1% of the blockchain they control the chain itself and it's essentially just a giant scam.

Is there anything out there in depth that refutes this?

You're friend seems pretty clueless.

 

[YNWA14]

Indeed, when I tried to explain to him that that isn't how it works he just told me he knew more about Bitcoin than I do and I'm dumb which is why I was wondering if there was an article or something I could give him to read so I don't have to try and reason with him myself.

 

[Fledgemyhedge]

There are a few things I really like about it; what problems do you have with their project in relation to others?

EDIT: I wanted to get into it last week at 25 cents...looks like I missed the boat on that one. Is there any chance that it's going to see a dive over Christmas? I might wait to buy unless this jump is likely to just hold and continue.

Well for one thing Ripple owns 60% of all coins. It's a super centralized crypto which is what people are trying to get away from.

May I ask what draws you towards it?

 

[YNWA14]

Well for one thing Ripple owns 60% of all coins. It's a super centralized crypto which is what people are trying to get away from.

May I ask what draws you towards it?

Well, to keep it brief...

- trying to completely decentralize is naive and won't happen (banks, blue collar, governments and wall street will never allow it)
- Ripple's platform will allow it to be the bridge currency
- they're already working with Banks and American Express, with 2 more major investors coming shortly (lots of speculation so I won't mention names)
- Codius reboot
- consensus vs. proof of work model as it pertains to environmental issues (minor consideration for the greedy, but still)

I mean it's really a bigger discussion than that but at the end of the day Ripple can do everything that BTC can do only better, faster and more secure. Ripplenet makes too much financial sense for giant global companies not to get on board with; it will literally save them billions of dollars.

 

[void]

Well, to keep it brief...

- trying to completely decentralize is naive and won't happen (banks, blue collar, governments and wall street will never allow it)
- Ripple's platform will allow it to be the bridge currency
- they're already working with Banks and American Express, with 2 more major investors coming shortly (lots of speculation so I won't mention names)
- Codius reboot
- consensus vs. proof of work model as it pertains to environmental issues (minor consideration for the greedy, but still)

I mean it's really a bigger discussion than that but at the end of the day Ripple can do everything that BTC can do only better, faster and more secure. Ripplenet makes too much financial sense for giant global companies not to get on board with; it will literally save them billions of dollars.

I'm just wondering what price do you think Ripple will be one day? I mean, you must think it'll go pretty high for you to consider going all-in on it?

 

[YNWA14]

I'm just wondering what price do you think Ripple will be one day? I mean, you must think it'll go pretty high for you to consider going all-in on it?

Putting a dollar figure on it is kind of impossible for me right now. I like to be cautiously optimistic; I have very high hopes for Ripple but at the end of the day I'm not investing anything I can't afford to lose (I'm not mortgaging my house or anything).

With that said I fully expect Ripple to break $500 by the end of 2018 as a conservative estimate.

I'm in Ripple for the long haul though and I'm looking at companies like Amazon and WalMart who would both benefit massively from getting on board. If that happens it's pretty much game over; you're looking at a market that currently has a $500b cap with less than 2% of the population involved. As soon as that becomes widespread and readily available to the masses, people are buying things online and making payments with 3rd party apps or even transactions through their banks, etc. it becomes almost impossible to put a limit on it. The cap still has tens of trillions of dollars of room to expand.

 

[LeProspector]

IOTA = G.O.A.T
I am also high on SALT, SafeX, Monero and Centra.

 

[void]

Putting a dollar figure on it is kind of impossible for me right now. I like to be cautiously optimistic; I have very high hopes for Ripple but at the end of the day I'm not investing anything I can't afford to lose (I'm not mortgaging my house or anything).

With that said I fully expect Ripple to break $500 by the end of 2018 as a conservative estimate.

I'm in Ripple for the long haul though and I'm looking at companies like Amazon and WalMart who would both benefit massively from getting on board. If that happens it's pretty much game over; you're looking at a market that currently has a $500b cap with less than 2% of the population involved. As soon as that becomes widespread and readily available to the masses, people are buying things online and making payments with 3rd party apps or even transactions through their banks, etc. it becomes almost impossible to put a limit on it. The cap still has tens of trillions of dollars of room to expand.

$500 per Ripple by the end of 2018? Sorry if I sound rude but.. What the actual f***? You realize that there's 38+ billion Ripples in circulation, right? 100 billion total. That would put its market cap at an astrominically high number.

I just really can't wrap my head around why you think so highly of Ripple. There's so many better coins out there. Lots of noobs are jumping on the Ripple train because it's getting some attention by mainstream media and because it's cheap. They can think that it'll become the next bitcoin one day even though it logically makes zero sense.

I wish you the best of the luck but I think you seriously need to taper your expectations.

 

[The Crypto Guy]

$500 per Ripple by the end of 2018? Sorry if I sound rude but.. What the actual ****? You realize that there's 38+ billion Ripples in circulation, right? 100 billion total. That would put its market cap at an astrominically high number.

I just really can't wrap my head around why you think so highly of Ripple. There's so many better coins out there. Lots of noobs are jumping on the Ripple train because it's getting some attention by mainstream media and because it's cheap. They can think that it'll become the next bitcoin one day even though it logically makes zero sense.

I wish you the best of the luck but I think you seriously need to taper your expectations.

Absolutely agree with everything you are saying.

And $500? There is ZERO chance it ever comes near that. I would be completely floored if its even $5 by the end of 2018.

 

[Fledgemyhedge]

Absolutely agree with everything you are saying.

And $500? There is ZERO chance it ever comes near that. I would be completely floored if its even $5 by the end of 2018.

I think there's a chance it could hit a few bucks by the end of 2018 if a lot of things go right for it. It would have to be a good year. There's so many coins (100bill total?~40bill circulated?).

 

[YNWA14]

The more popular Ripple becomes the shorter supply it'll have and that change will be exponential with more exposure/application. Obviously the supply is currently massive but its applications are potentially endless and it will be used for more than just trading or buying. Crypto market cap increase, Ripple's position within it and big players stepping in will all be big influences in 2018. Even just short term coinbase picking it up is going to drive up the price, but maybe $500 is a bit ambitious for next year,

Consider this:

I think it can be proved that XRP is worth as much as the sum of all monies that flow through it. This can be done by considering three people with $1 each and with one XRP in the middle.
1. Consider a situation where person A sends $1 to person B. You need total XRP to be worth $1 for the transfer.
2. Consider a new situation where person A sends $1 to person B and person C sends $1 to person B. You need total XRP to be worth $2 for the transfer.
3. Consider a new situation where each person sends $1 to each other at the same time. You need total XRP to be worth $3 for the transfer.
4. As the velocity of money increases, the value of XRP then converges towards the sum of all monies that flow through it, by mathematical induction.
In this regard, I would put a valuation in the order of trillions for XRP given all the current and future partnerships.
So that would be upwards of $1,000 per XRP.

I think maybe when valuing XRP some people are getting lost in the market cap/current volume without looking at the bigger picture. It's going to be about the infrastructure.

Here's a good blog to follow IMO: XRP: Momentum Building though I think he's a bit conservative as well.

You guys keep mentioning these "so many better coins", but what makes them better or better situated than Ripple moving forward or over the long-term?

Anyway, being high on Ripple is just my opinion but I'm not telling you you have to invest in it or anything. I just think it has the biggest future and atm there's no real measure on what that means for the value of crypto in general.

 

[What the Faulk]

Generously discounting future supply, There are roughly 39 billion XRP in circulation. $500 per coin puts the market cap for XRP alone at 19,5 trillion. The current market cap of the entire crypto world right now is about 550 billion. So, not only would the entire thing have to explode exponentially and grow 36 times over, but Ripple itself would have to do all of it. But we know that Ripple isn't anywhere close to Bitcoins market cap, which means Ripple would have to dethrone BTC and itself grow 649 times over. The GDP of the United States is 18.57 trillion. In 2014, the GWP was $78.28 trillion. You think Ripple can represent 25% of the world economy? In a year? As a conservative estimate?

Sorry, but I don't think you fully appreciate the absurdity of your statement. There's optimism, and then there's whatever your last few posts are. I'd suggest getting a handle on things before you set unreasonable expectations.

 

[phisherman]

Seeing comments above I feel a lot of people will get wrecked.

 

[YNWA14]

Well I mean, like I said before I don't actually put up any more money than I'm willing to lose anyway. I have a job and a pension and I'm not using this as some kind of retirement plan. It's just more of an educated gamble.

With that said you're probably right.

Still, the value of Ripple isn't going to be solely determined by the amount in circulation. That amount is going to be heavily hedged as soon as banks and larger companies get involved in a big way (someone or an organization just bought 900m XRP for example). In tandem with this higher prices make payments cheaper; big companies (and individuals) looking to move big sums of money will benefit from a higher value of any currency they use because of the volume of movement. The large buy above is just the beginning as many institutions and companies will need to hold large stores of XRP to provide and control liquidity; right now the market value is mostly being driven by speculation as opposed to a heavy supply/demand.