Ripple

[Marjuno]

I actually don't like the idea that there are so many different crypto-currencies. Maybe my logic wrong since most countries have their own currencies, but it seems to diminish or dilute, in my mind, the entire "project" or idea of what they are for.

For trades, I'd probably buy and sell any of them. But Bitcoin and maybe more so Ethereum because of its usage potential, are the only ones I'd feel comfortably investing in to hold longer term.

I've always liked the song, however.

Thank you so much for the response! Trying to understand all this variety of cryptocurrencies. I completely agree with your opinion, it's worth investing either Bitcoin or Ethereum. In addition, some companies accept payment in Bitcoin, which also speaks to its future.

Special thanks for the good music:smile:

 

[PessOptimist]

It was also a fine wine back in the day.

 

[tsptalk]

What do you think about the future of this cryptocurrency?

I actually don't like the idea that there are so many different crypto-currencies. Maybe my logic wrong since most countries have their own currencies, but it seems to diminish or dilute, in my mind, the entire "project" or idea of what they are for.

For trades, I'd probably buy and sell any of them. But Bitcoin and maybe more so Ethereum because of its usage potential, are the only ones I'd feel comfortably investing in to hold longer term.

I've always liked the song, however.

 

[Marjuno]

What do you think about the future of this cryptocurrency?

 

[bmneveu]

I like to use the site below to check out all the different cryptos. A lot of them have been ripping to the upside lately, Ripple certainly included.

https://coinmarketcap.com/

 

[Bullitt]

I must admit, I am tempted to speculate and the sites that service the coins sure make it easy. A few things though.

1. Tax time nightmare.
2. I am not willing to risk 1% of my capital at this stage. 1% is really the minimum you'd want to have here for diversification purposes. I have no need for excitement by placing trifling bets on a digital currency.
3. What if it goes down?

If I was speculating here though, I'd choose this XRP because speculators love "low prices". Instead of saying, "if it goes up 100%, I double my money," they'll say, "if it's only a penny it only needs to up a penny and I double my money."

View attachment 46830

 

[bmneveu]

I use Binance. I buy etherium or litecoin through GDAX (an affiliate of Coinbase) then transfer it to Binance.

This is the cheapest way to move money from you bank account into Ripple if you want to go through Coinbase. Your account --> Coinbase --> GDAX --> Binance (purchase XRP here) --> wallet.

A cheaper way, if you are comfortable with it, is using Gemini instead of Coinbase and GDAX. Gemini's fees are smaller but it can take some time to validate your account before they let you move money out. I personally use Gemini and have had no issues other than the annoying wait for validation.

 

[bmneveu]

Is there an ETF for Ripple, similar to GBTC for Bitcoin?

Not to my knowledge, no. The best way to invest into Ripple from the stock side would be indirectly by purchasing the stock of the banks Ripple is doing business with. One particular entity that should do VERY well by partnering with Ripple is Western Union (WU). Why does everyone hate using WU? Because it costs a ridiculous amount of money to wire transfer money, sometimes up to 20% of what you are sending. It's just silly. Now imagine they switch from Swift or whatever they currently use to XRP and the cost on their end drops from 10% to 0.01%.... It's a no brainer, as long as it works. Hundreds of banks are, ehem, banking on Ripple. Western Union is probably the biggest one and maybe has the most profit to gain. I think I just talked myself into buying some WU.

 

[uscfanhawaii]

Is there an ETF for Ripple, similar to GBTC for Bitcoin?

 

[gegor1957]

do you have a ledger or do you use their wallet?

I buy and hold some coins on a ledger nano but trade a smaller amount on Binance.

 

[badgerland]

I use Binance. I buy etherium or litecoin through GDAX (an affiliate of Coinbase) then transfer it to Binance.

do you have a ledger or do you use their wallet?

 

[gegor1957]

easiest way to buy ripple - anyone? I know coinbase and robinhood don't have it - do I need to use Ether or whatever to purchase it through binance or something?

I use Binance. I buy etherium or litecoin through GDAX (an affiliate of Coinbase) then transfer it to Binance.

 

[badgerland]

easiest way to buy ripple - anyone? I know coinbase and robinhood don't have it - do I need to use Ether or whatever to purchase it through binance or something?

 

[bmneveu]

$1.095 has been a ceiling and floor many times in the past for XRP. Even if it breaks through that, it will meet another ceiling, a wide descending channel.

 

[bmneveu]

Interview with the Ripple CEO at the end of the video is very good. I would just skip to that.

 

[Frixxxx]

I hate when I get distracted and forget to purchase. Missed a huge run last night.

 

[bmneveu]

Wow, its at 1.01 right now. Cryptos are getting slaughtered.

 

[RealMoneyIssues]

Holding on Ripple Purchase for now, think I can wait until under a $1.00.

Get it now, the gift that keeps on giving...

 

[Frixxxx]

Holding on Ripple Purchase for now, think I can wait until under a $1.00.

 

[Frixxxx]

Did you get any? It wasn't at $1.50 for very long...

Not yet, will see if it hits again....stupid sleep.