2017 Saving and Investment Thread

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Re: 2017 Saving and Investment Thread

Postby GoStumpy » Dec 28th, 2017, 5:07 pm

Ok thanks for clarifying :)

I guess most of this is off-topic... I'm going to be holding a few thousand in BTC but I would never suggest putting more than ~2-5% of your entire investment portfolio in crypto... and of that 2-5% I wouldn't suggest having it all in BTC either, unless that's all you want to do... of my Crypto Porfolio I am looking to get to the point where I have ~30% BTC, 10% LTC, 10% ETH, and 50% in a wide array of altcoins, at least 10-15 of them.. it's just another layer of investing that is brand new :)
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Re: 2017 Saving and Investment Thread

Postby Ka-El » Dec 28th, 2017, 5:15 pm

As stated, I would only use money I was completely prepared to lose but might be interested in getting into and playing the game with a couple thousand. Do you have to buy in online? Just an old guy trying to keep up with this ever changing world.
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Re: 2017 Saving and Investment Thread

Postby GoStumpy » Dec 28th, 2017, 5:17 pm

QuadrigaCX.com is a Canadian site that apparently allows withdrawls, I've successfully depsosited there and then transferred to Bittrex.com to do my trading. I have not attempted a withdrawl yet.
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Re: 2017 Saving and Investment Thread

Postby Ka-El » Dec 28th, 2017, 5:33 pm

GoStumpy wrote:QuadrigaCX.com is a Canadian site that apparently allows withdrawls,

Yes, I did take a quick look at that site but didn't go following links. So I guess the idea is you register with the site
and then you can go ahead and purchase? Hopefully be able to withdraw later :D
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Re: 2017 Saving and Investment Thread

Postby Jonrox » Dec 29th, 2017, 1:03 am

GoStumpy wrote:How is up to 10% of it's transactions 'primary use to date'? It's just what you saw in the news the most :up:

The kitties game I'm pretty sure was an early example of how to build on the platform, merely an early (entertaining, obviously) execution of it's capabilities.

Given that you said there are hundreds or even thousands of things being done with it, if just one application was responsible for 10% of transactions, then it would be the primary use.
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Re: 2017 Saving and Investment Thread

Postby kingsandman » Dec 29th, 2017, 7:26 am

Model citizen......zero discipline.
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Re: 2017 Saving and Investment Thread

Postby Ka-El » Dec 29th, 2017, 8:58 am

^ was that forum ?
"liberal governments both sides of the border always seem to be left cleaning up the messes left by conservative governments"
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Re: 2017 Saving and Investment Thread

Postby Hassel99 » Dec 29th, 2017, 11:56 am

Ok Bros, here is your Horse race tip of 2017. This is not investing advise, this is Gambling theory crafting only.


Ripple - XRP was $1.4 last night, its 1.8 today. the multiples potential and scale are insane, Its starting to get mainstream press today as it surges again.

There is a rumor that Coinbase (the biggest exchange) will pick it up in Jan. When that happens, Spec "gamblers" will dump their other holdings and plunge it into ripple to maximize the multiples.

What do you think has bigger chance, ETH going from $1k to $10k or XRP going from $2 to $20. $20 is nothing in this space. It could hit $200 just on spec.

XRP is different then the rest of Crypto, its owned by a company named Ripple and it can complete a transaction in 4 seconds which is the fastest Crypto currently. Its huge in Korea and Japan currently and I am waiting for more

Kraken.com is the exchange I use, its out of Europe but they service Canada. I bought Bitcoin from QX and moved it to Kraken to buy Ripple. It took a week to get verified on Kraken so if you want to do this you need to start the process asap.

Good luck.
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Re: 2017 Saving and Investment Thread

Postby GoStumpy » Dec 29th, 2017, 1:53 pm

While I agree, never forget to look at the total supply of those coins..

Ethereum has 96mil total, Ripple has almost 39 BILLION... so the per coin price will always be FAR less.

However I do 100% agree, it could 10x in value easily
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Re: 2017 Saving and Investment Thread

Postby Hassel99 » Dec 29th, 2017, 2:36 pm

XRP is different

You can not mine ripple,

Every coin that will exist, exists now, however only 25% are in circulation, the rest are held by Rippleinc.

Why is XRP different?
Banks want to use it.

https://ca.finance.yahoo.com/news/75-ba ... 39601.html

They just signed up 3 major JPN banks today.
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Re: 2017 Saving and Investment Thread

Postby Jonrox » Dec 29th, 2017, 3:09 pm

So everyone is aware... Ripple isn't a cryptocurrency. It's not even close to what Bitcoin and Ethereum are. It serves a completely different purpose and isn't a currency of any kind. Put simply... if you have a gift card with $50 on it, Ripple is the plastic gift card, not the $50 that's on it. Ripple is simply the vehicle used to transfer the actual asset between parties.

Ripple – Why You Shouldn’t Invest (and Not Because It’s a Scam)
http://hivergent.com/you-shouldnt-invest-in-ripple-and-not-because-its-a-scam/
Unlike Bitcoin, Ethereum, Litecoin and 90% of all cryptocurrency blockchains, Ripple is a relatively closed blockchain. Through some effort, users can go download a wallet and transfer Ripple to it, but you have to create trust lines with other organizations in order to get access. In this way, you can’t just send money to whomever you want, they have to accept you as trustworthy before allowing transactions. And considering most users are banks, they have no reason to accept you.

Because of this, Ripple is a blockchain for banks, primarily focused on B2B. Normal consumers are not supposed to interact with the system and have better alternatives available

From Ripple themselves:
Private exchanges and liquidity providers may choose to hold additional XRP for trading. Ripple (the company) does not promote XRP as a speculative investment.

Here’s another way to think about XRP: Ripple owns the vast majority of the XRP (over 60% of the supply). They can decide to cash in on the value, or completely devalue the market by flooding it with cheap XRP. At this point, we don’t know what they’ll do with this high valuation, but regardless, you are at the whim of a powerful 3rd party with uncertain goals. And more importantly, they’re telling you the currency is not good for speculation.
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Re: 2017 Saving and Investment Thread

Postby Jonrox » Dec 29th, 2017, 3:38 pm

GoStumpy wrote:While I agree, never forget to look at the total supply of those coins..

Ethereum has 96mil total, Ripple has almost 39 BILLION... so the per coin price will always be FAR less.

However I do 100% agree, it could 10x in value easily

Keeping in mind the purpose Ripple was designed to serve, being highly volatile with the potential to rise ten-fold will stunt it's adoption. Their target market is banks. Banks are not going to widely adopt a technology for moving funds that could swing costs wildly by 10, 20, or 50% in a day. Banks want stability and minimal risk... they're not gamblers.
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Re: 2017 Saving and Investment Thread

Postby Hassel99 » Dec 29th, 2017, 4:03 pm

Jonrox wrote:So everyone is aware... Ripple isn't a cryptocurrency. It's not even close to what Bitcoin and Ethereum are. It serves a completely different purpose and isn't a currency of any kind. Put simply... if you have a gift card with $50 on it, Ripple is the plastic gift card, not the $50 that's on it. Ripple is simply the vehicle used to transfer the actual asset between parties.


That's not an accurate analogy (plastic)

XRP is not meant to be spent on goods and services you are correct, Its meant to facility bank to bank transactions.


Lets say i want to send $1000 CDN to my pal in Russia/anywhere, but he does not want $1000 CDN he wants it in BTC. I go to my bank and send him $1000 CDN. My bank takes the $1000 converts it to XRP, sends the XRP to Russia/anyware converts it to BTC and credits my pal's account.

The benefit is XRP can move much quicker than the current system (2 days down to seconds) and has a robust trust verification process. IE banks to transfer faster with less fraud.

Its money for banks to use as a exchange platform not controlled by a government. The downside is that it is not decentralized it is super centralized and owned by Ripple INC.

It sure is a gamble, but if super conservative Canadian banks are getting in after Korea and Japan jumped all over it, that is an amazingly good sign for speculation. American express is starting to use it as well.

Of course the pin could be pulled at any time leading to a big fat $0. Don't Gamble what you can not afford to lose. This is not investing!. (we should make a new crypt thread)
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Re: 2017 Saving and Investment Thread

Postby Jonrox » Dec 29th, 2017, 5:54 pm

If we’re going to argue the level of accuracy in what I labeled dumbed down, your description still doesn’t represent what actually happens in the XRP transaction. We can get really detailed if you want, but it won’t serve any real good. My description of the gift card is just an even more simplified description of what you explained.

I’m not arguing against the technology... the technology is great. It’s a terribly risky gamble. I think the roulette table gives you better odds.
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Re: 2017 Saving and Investment Thread

Postby Hassel99 » Dec 29th, 2017, 6:09 pm

We can agree its a total gamble based on rampant speculation.
Hit $2.19 today before a selloff down to $2.

My only problem with the giftcard analogy is that the price of the plastic card is not variable, while XRP is. Will it be forever, who knows.

If you want to ride this rollercoaster make sure to get a helmet.
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