Crypto $$$

[data_mine]

Originally Posted by aussiblue

https://www.businessinsider.com.au/a...by-gold-2012-3

so 5% doesn't count as being backed, yet 50% is backed?

I stand by my comment. it's not backed by gold if it's not 100%.

Anyway the point was the cash in your wallet and the number in a computer somewhere that is your bank account is just as worthless (intrinsically) as a <whatever>coin - it's only valuable as an exchange for something else.

A $ is only a $ because our government says you can pay your taxes with it. They don't want farmer joe coming in trying to do his tax returns in cows and wheat.

[CJR09]

Everything taking a big dump at the minute - crazy just how much can be made on the swings, climbed aboard the ripple train - saw 60%+ return over the week or so, nek minute 24hr later back to ground zero, crazy stuff!

[PHATAL]

From btc markets ripple looks pretty stable over the last 24 hours.

Heres hoping it moves up after the holiday season.

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[Lunch]

I like that it’s been steady for the past couple days, finally able to stop watching..

[PHATAL]

Yep still spewin I couldnt buy when I wanted to.

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[Outbackjack]

2018 will be ripple's year.....

[PHATAL]

Originally Posted by Outbackjack

2018 will be ripple's year.....

In my massive 1/52 years of experience in crypto I believe you are correct.

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[aussiblue]

You are correct, there is no currency backed by a precious metal.

What about onegram? https://onegram.org/ a gold backed crypto-currency.

[NTF6]

Originally Posted by aussiblue

What about onegram? https://onegram.org/ a gold backed crypto-currency.

I reckon if you invested in the your money would be gone forever. That team looks as dodgy as ****. That girl has been organising events for the past ten years. What a joke, she looks like one of the blokes girlfriends who wants a share of the pie when they rip everyone off. The money will probably go to fund Islamic extremists.


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[aussiblue]

No; I not suggesting anyone should invest in Onegrams or bank with Banque du Liban but they are gold backed currencies.

[PHATAL]

Xmas must be over. Ripple is heading back up. $1.54 currently after being down around $1.36 last night.

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[DoreSlamR]

Originally Posted by PHATAL

Xmas must be over. Ripple is heading back up. $1.54 currently after being down around $1.36 last night.

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Ahh ripple, I bought several thousand at 16c

And sold at 30c...

Yes I doubled my money, but selling at even a dollar would have been nicer.

Sitting on Litecoin, waiting for that to come back up

[Lunch]

Ouch.

[ford71V8]

Originally Posted by DoreSlamR

Ahh ripple, I bought several thousand at 16c

And sold at 30c...

Yes I doubled my money, but selling at even a dollar would have been nicer.

Sitting on Litecoin, waiting for that to come back up

This post is why I am erring on the side of leaving things alone.
Great to double your money and right now perhaps taking out my initial input is the go but todays rise is tempting me to hold on and just ride it out because I wont lose sleep with losing what I put in.

[Lunch]

I understand taking out what you put in when it reaches 100% increase but that severely dampens your growth and like ‘go further’ pointed out, ripple won’t reach the lofty heights of bitcoin so unless you got in below 50c you really need quite a few to have a chance at an impressive return, if you’re only playing with what you don’t mind losing, wait and see if it gets to 200% or even 300% then cover your outlay.. maybe

[Iggle Piggle]

After saying I would check in once a month I found myself checking the Ripple price daily, then thankfully got busy over the break so did not check over the last week.

Just looked now and found the price pretty much where I last saw it, but looking at the history there was a bit of a dip then it leveled out for a while, and has only just today risen. Did I miss something (other than an opportunity to buy more lol)?

EDIT: Looks like Phatal and I checked the price at the same time.

[PHATAL]

Originally Posted by Iggle Piggle

After saying I would check in once a month I found myself checking the Ripple price daily, then thankfully got busy over the break so did not check over the last week.

Just looked now and found the price pretty much where I last saw it, but looking at the history there was a bit of a dip then it leveled out for a while, and has only just today risen. Did I miss something (other than an opportunity to buy more lol)?

Not really mate. Lowest I have seen over the last few days is $1.35

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[Iggle Piggle]

On BTC Markets 'Home' view for Ripple...that Market Depth section at the bottom - so the red to the right of the price-point is orders to sell at those prices, and the green to the left are buy orders, yeah?

So the red line being steep is what they mean when they say resistance to increase - as the price tries to climb it triggers lots of selling which pushes the price back down?

[PHATAL]

Originally Posted by Iggle Piggle

On BTC Markets 'Home' view for Ripple...that Market Depth section at the bottom - so the red to the right of the price-point is orders to sell at those prices, and the green to the left are buy orders, yeah?

So the red line being steep is what they mean when they say resistance to increase?

I am assuming so. That sounds right. I was thinking that maybe it showed the total XRP held overall and showed where it was valued when purchased?? Your idea sounds more plausible though.

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[Iggle Piggle]

Originally Posted by Iggle Piggle

On BTC Markets 'Home' view for Ripple...that Market Depth section at the bottom - so the red to the right of the price-point is orders to sell at those prices, and the green to the left are buy orders, yeah?

So the red line being steep is what they mean when they say resistance to increase - as the price tries to climb it triggers lots of selling which pushes the price back down?

Red line to the right on the Market Depth chart isn't very tall any more

[PHATAL]

One thing I did notice was at 1:00 am it said that in the previous 24 hours the amount of XRP traded on BTC Markets was roughly 1.6 million. Now I look at it less than 12 hours later and it is saying 3.6 million.

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[Outbackjack]

Is it safe to say that you guys are in the black now?

[PHATAL]

Originally Posted by Outbackjack

Is it safe to say that you guys are in the black now?

I am up roughly $120 ish.

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[Lunch]

A little

[Sioso]

I would be if I hadn't bought bitcoin cash and litecoin, they both happened to be at their peak on the day my money went in!
Thankfully those losses are currently offset by ripple.

[Outbackjack]

As I said. I think that 2018 will be ripple's year. It now has the third deepest market penetration. (In Asia)

[Outbackjack]

To the doubters out there please read this and ask yourself do such large corporation invest in pyramid schemes? There is still time. A $500 investment could be life changing in 5 years time.

https://www.cnbc.com/2017/12/27/ripp...companies.html

[Maka]

Originally Posted by Outbackjack

To the doubters out there please read this and ask yourself do such large corporation invest in pyramid schemes? There is still time. A $500 investment could be life changing in 5 years time.

https://www.cnbc.com/2017/12/27/ripp...companies.html

Ok i will bite lol, from what ive read, Warren Buffett says its fomo -

http://www.marketwatch.com/story/hee...omo-2017-12-26

I can see why people are jumping on cryotocurrencies for a number of reasons to get ahead, lets hope they do it responsibly with minimum risk & maximum due diligence.

Ive read that if it were to become a bubble & it crashes, its borrowed money to purchase the cryptocurrencies is what will cause the most damage to the financial system, caveat emptor lol!

Anyone getting personal loans to do some bitcoining, hope not just in case...

cheers, Maka

[PHATAL]

Originally Posted by Maka

Ok i will bite lol, from what ive read, Warren Buffett says its fomo -

http://www.marketwatch.com/story/hee...omo-2017-12-26

I can see why people are jumping on cryotocurrencies for a number of reasons to get ahead, lets hope they do it responsibly with minimum risk & maximum due diligence.

Ive read that if it were to become a bubble & it crashes, its borrowed money to purchase the cryptocurrencies is what will cause the most damage to the financial system, caveat emptor lol!

Anyone getting personal loans to do some bitcoining, hope not just in case...

cheers, Maka

That was a good read. FOMO is an interesting term and I can relate. I basically knew nothing and threw some cash at this. Not much cash in the scheme of things but I would be lying if I said I wouldnt be ticked off if I lost it all. On the flip side though if it makes a bit of cash then happy days. Currently if I cashed it in now I would have more than I started with.

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[Iggle Piggle]

Agree with Maka's article that bitcoin and most cryptos are speculative bubbles that will crash, and could not agree more that it is irresponsible and downright dangerous to get into crypto or any other "investment" (gambling) with borrowed funds.

I took the advice earlier in this thread - only play with what you can afford to lose - and while we talk about investing and holding our investments I still view it as a form of gambling with full understanding it could all turn to **** at any time.

Having said that, I am by no means educated or knowledgeable about cryptos, and have only done a little reading for just over a week, but I do see Ripple as different to most other cryptos. The reasons I back it is all the reasons that the hard-core original crypto guys hate it and refer to it as a ****coin and the banker's coin - that is, Ripple is trying to work with rather than replace the banks and financial institutions, and is looking to operate within financial regulation. Right now while the other major cryptos are falling Ripple is the only one going up - but I also know I may have backed a donkey and Ripple too could turn to **** at any moment, in which case I will lick my very light wounds then move on with life with no real financial impact.

I spent $400 on Ripple at $1.03, then grabbed $150 more the other day at $1.33...at $550 total investment it is still less than I would spend over 4 days at Clipsal on ticket, food, drink, and cabs.