Almost all cryptocurrencies have been seeing massive losses in the past day or two

Just a quick question, why all the interest in Ripple?

From what I've read, no Bank has any intentions of using Ripple as of yet but it's being promoted as though it is.
Lots of PR on this coin, any truths to it?

Now apparently there isn't going to be a ban in SK.

No ban

If this story is true then I think that the SK government is playing insider games. People high up are getting rich. I wasn't so sure but I posted on another thread that this would happen.

a reply to: Village Idiot

Ripple isnt just a bitcoin, its a platform that is very viable for the future. Whether that viability translates into coin value is yet to be seen. Ripple does have the third largest market cap however. Or at least it did. It was second just last week but the recent changes have been somewhat significant. The low price on Ripple also make it attractive to many buyers who would otherwise not consider it. There has been some speculation as to which would be more profitable, buying ripple company stock or buying ripple the bitcoin.

a reply to: Village Idiot

already has a deal with AMEX, folks are guessing deals with Visa and MC may be next. If so, could shoot to $100 or $500, making a lot of people some very fast money

a reply to: Village Idiot

Most of XRPs clientele are not going to be the B of As of the world. Though they do have a few of those on their list. They are looking at smaller banks where fees would prevent their further growth. Regional banks and credit unions. Yes, Ripple wants big banks too. But I think they know where their bread an butter will really be in the future.

You can't take Swift's business away by going after the big guys. You go after all the small to midsize banks and credit unions and take market share by volume. Eventually, you'll get the big guys to dump Swift, maybe not all at once, but enough to make a real competitive difference.

They do have a client list on their website. Some are large some are not.

ripple.com...
Scroll down for members list.

The problem people have with Ripple isn't that it's "centralized"(even though the tech itself isn't XLM is an exact copy), the problem is that people entrenched in the crypto community don't like that someone is willing to actually create a viable product of real economic value from blockchain instead of tossing out buzzwords and ideology. People who really think Bitcoin will end banks or fiat currency systems.

That will never happen. Ever. No government would ever allow its chief source of real power to be supplanted by one owned essentially by no one in particular. It is one thing to allow it to exist in an insular market like the current state of the crypto space; it is entirely another to start incorporating it into one's own economy at the very fabric of monetary policy- forcing the US dollar to compete in its own turf. There's a reason it's being viewed as "property". Because the US dollar that is in your account and in your pocket is NOT your property. Money is viewed in the US as an intangible property as it can be accumulated, but it will always be a FEDERAL RESERVE NOTE. This has not always been this case, but since the Federal Reserve took ownership of our money it has been. Labeling cryptocurrency "tangible property" is a legal means of effing with the market and stamping out the competition.

Best way to get around this trap is to use cryptocurrency as a liquidity vehicle. Becoming a reserve cryptocurrency the way the USD is the world reserve currency. XRP is a liquidity vehicle. It is money like any other money(except it is not inflationary and entirely digital), and this is being largely targeted at emerging markets. That also means small to medium US banks.

In order to compete with Swift, Ripple will have to go after the small to medium banks in what amounts to un-networked regions in order to create enough mass to challenge the $23 trillion market Swift controls. They wanna set up shop in Asia, Africa, Central and South America, and build a more massive market in those areas. They've already dipped their toe into Mexico with Cuallix for cross-border payments.


Another one you should look at is VeChain. This coin is straight up supported by the Chinese government. It's a supply chain verification system linked to a tamper-proof blockchain that links every individual product, from source to end-user, via a number of input methods. It is being adopted for luxury goods, but it is meant as a scalable authenticator of an entire supply chain. There is HEAVY investment is this coin and they have weathered this storm better than just about anyone else because of the massive corporate and government support it has received.

Rightly so, VeChain is SOLVING a seriously huge problem in the Chinese economy; the proliferation of counterfeit goods. It's so bad that even IN China it's hard to get authentic goods from the companies on the labels. Their supply chain system today is insanely inefficient and offers absolutely no interoperability from one sector of the chain to the next. VeChain is a logistical game changer.

Another one to look at is IOTA. IOTA wants to create a machine economy based on their token to maintain a vibrant market economy to weather the economic destruction that is and will be automation. That way when you go to the store(or your robot sex toy goes for you) there is a currency by which you can buy your party favors.

There's more. But I have to go to bed and I'm tired.

a reply to: projectvxn

As always, some great info. I had learned the gist of these, but nice to see some more detail about them.

No big surprise, even lower today across the board. Didn't get to my buy points yesterday, but getting closer this morning...

So far, thinking:

BTC 8000
BCH 1000
ETH 700
LTC 100
XRP 0.75

Then, those I want to get into

ADA (Cardano) 0.25
XLM/STR (Stellar) 0.25
MIOTA Under 2
XMR (Monero) 100

a reply to: Gazrok

Ebay/Paypal allows payment for auction goods with free foreign currency settlement.
Problem is that with volatile currencies you always seem to get the worst possible conversion rate.
So why would anyone want to lose money to AMEX by using a cryptocurrency?

North Korea purchased a huge stockpile of US currency when there Won was valued near 128 to the dollar.
After purchasing what they needed the government devalued their currency to 900 to the dollar.

Who knows how much of the crypto boom was on credit and will require margin calls?
Our speculation is that the borrowing started near $5500 range for bitcoin and that might be a good rentry point, but margin calls are ruthless.
Crypto markets are not considered too big to fail so there could be litigation costs that get removed from the pyramid pool along with the increasing cost of mining.

I'm hodling all my cryptos. This dip will pass. I'm sorry for those who gambled their money in bitconnect though. That was an obvious ponzi scheme.

It's all playing around money though, so I don't stress too much about it. Though I have a farm, I didn't bet it.... It either works out, or it doesn't. It actually makes this kind of fun to ride the roller coaster, vs. pulling my hair out, hehe.

At first, my buy point for BTC was going to be 6000, but seeing how it's holding around 10,000, I figure 8000 is probably as low as it will go during this crash before it starts creeping back up. Even if it does go to 5000, I still got in way cheaper than what it will be by year's end (hopefully) and when I did my initial investment, so no harm, no foul.

If anything, just seems like a great buy opportunity this week. (If I can just get a glare free pic for the profile verification at Poloneix...ugh)

a reply to: Gazrok

That's the way to do it. You only risk your throwing around money. Just like gambling. When I went to Vegas, over time I saved up a few grand that was strictly my gambling money. I looked at it like money I didn't have. Whatever I walked away with was a plus. I didn't walk away with much lol but I wasn't stressed about it because I didn't need it for bills or anything.

a reply to: face23785

Oh, I wish I had a few grand to throw around, lol....I'll make do with a couple hundred or so. About all the wife will let me get away with...

I'm seeing the broken structure on bitcoin....broken structure in the chart......at 1700......1750 really so looky out.....I got in at 18 bucks and got out at 2900....i missed the big one huh?!!

My strategy has been find what the darknet markets are using. In the end if you can't spend it it's worthless long term.

I was in BTC at the beginning so have a few quid to mess with.

Monero
Zcash
Bitcoin Cash
Ethereum + Classic

Also looking at the American cannabis market because of the federal laws.
Budbo looks an interesting venture.

The problem may be that the big spike occurred because every day people, mums and dads and taxi drivers and everybody was piling into Bitcoin because they thought it was a get rich quick scheme.

And now the bubble has burst and a lot of people are losing a lot of money.

You've gotta convince those people to put their money back in again to get the bubble back.


Which I'm sure the people manipulating the bitcoin market will do, I expect it to hit rock bottom and then balloon back up again, to try and encourage more people to shovel their money in.

But in the meantime, sorry for the people who lost their cash.

I hear a lot of the bitcoin trader sites are now hosting suicide hotline help center details.

This market is WAY too fluctuating for folks to do as a main investment. I seriously hope folks haven't sunk more into this than they can afford to lose. That's just a dumb move.

I still think the fluctuating announcements out of South Korea and China are the primary reasons behind this freefall. Whether or not this represents manipulation of the market, who knows? There are plenty of other factors at play here, but when governments start rumblings of cracking down, can bet it got some spooked.

Damn, my picks are already getting close to my previous buy points today...sheesh!

a reply to: Gazrok

Yep, I have put less than 1% of my total overall investment $$$ in to this crypto world. Now no one knows where this will end up, but that is why you do your research and DO NOT put money in that is important or that you absolutely must have back.
If it all goes poof, I will not miss a meal or a payment.

If it all goes poof, I will not miss a meal or a payment.

Exactly. Anything else....it's like betting the mortgage on a horse race, when you're at the dog track.

EDIT: By the way, all are going back up (close to where they were yesterday around 5pm). Could be temporary like yesterday....so close to buy points...lol.

I gotta think... after all the effort to build trading platforms & such... that CryptoCoins or Tokens will have a longer life than Pet Rocks ~~ Beanie Babies ~~ Baseball Cards ~~House Flipping mania, et cetera

I did get caught up in the Olympic Basketball "Dream Team" frenzy... even spent money to make a Complete Set of the Gold Medal BasketBall Team with the single ball player 'Christian Laetner' who was omitted from the 'Official Players Cards' & had to be found outside the specialized set & still made by TOPPs as just another College Player from DUKE University


I got collectors junk like pristine 'Playboys', in the mailing plastic for the whole year of 2000 (Y2K)

the 'Dream Team' all players, coaches

a copy of Shakespeare, with printed etchings , presented to Wealthy Elite accounts @ Riggs Bank in D.C. year 1860's...
(the Tome has been bundled in a closed, safe, dark environment since 1969...or ± 50 years now)

Stock Certificates of Union Carbide, R.J. Reynolds and RJR-Nabisco & a few other non-familiar Stocks no longer in existance


i collect stuff for myself instead of chasing fads, expensive pastimes, or get-rich schemes...
cryptos are presently too volitile for me to buy, after the dust settles, each coin might exchange for a days-wages & that might be $50K but in hyper-inflated domestic dollars ~or~ near 2 gold-backed crypto-Yuan internationally... which will purchase a big Mac hamburger

It's a fun short term investment opportunity, although most of the get in and get rich people got in long ago, and are out or soon will be. Still an opportunity to make some actual cash off of them. Don't wait too long though, because when fads start to drop they die fast. Too many will hold on, hoping for a rebound that won't come, and they will lose.

Get in, make some real cash, get out.

Most seem to be holding mostly steady this afternoon. Minor ups and downs, very minor. (and still lower than yesterday, just not as low as this morning).