Anyone invest in crypto currency?

NetworkNewb

Thanks for the explanation! I'm not totally convinced in Ripple, but might throw a couple hundred at it in speculation and to gamble.

hurricane1091

p@r0tuXus wrote: »

Had a book going so I had to condense. Again, not a guru, simply a spectator at best.I know not all will agree with me so please feel free to discourse but let’s keep it objective and this is not an attempt to change anyone’s mind or get anyone to buy anything.Okay…*take’s breath*

According to http://coinmarketcap.com/Ripple is currently the #3 crypto currency in Market Cap with 20% of the cap Bitcoin has, and just under half the cap of Ethereum.Even though the total # of ripple is $100 billion, right now only 38 billion are in circulation, 6.46 billion are held by Ripple, and 55 billion are in escrow with a steady planned schedule to release 1 billion every month for 55 months starting after the end of this year.The coin is “currency agnostic,” as institutions, organizations, businesses and individuals buy ripple to trade those currencies around the world for fractions of the cost of traditional methods in only seconds, much faster than BTC and even faster than ethereum, https://ripple.com/xrp/ .While the nodes processing these are growing, the validator nodes will be secured and the company is moving the platform to be decentralized.There are all ready banks implementing it in 116 countries with 15 of the worlds’ top 50 banks.It integrates easily across institutions and liquidity providers, making money easier to get access to which has the potential to grow economy quickly.With almost $200 trillion worth of currency world-wide and a lot of other currencies inflating by rampant money printing and central-bank hyper-inflation, I can see institutions banding together under a decentralized platform that exchanges currencies anywhere without delay.Add on top of that the 1.2 quadrillion dollars in derivatives and the financial institutions around the world need a way out of eminent collapse and what easier way than digital currencies which they’re already invested in and can ensure have the safety and integrity to accommodate the convenience that will be required to promote acceptance and usage?When a country like India, with over a billion people, can go cashless overnight, the banks will look to make money off quick and cheap transactions.When that can be done world-wide and those banks that have all that currency (crypto coin) handle trillions of transactions daily (or even more, possibly), then the market cap of a crypto with 100,000,000,000 in supply could certainly reach great heights.How much?I have no idea.But at 20 cents, give or take, per coin right now?I can afford $1,000 to find out.

Yes, this sounds good. It's worth a shot. I'm still not convinced it can hit $5 within the next 2 years, but at a quarter a piece it's probably worth a shot.

p@r0tuXus

From yesterday to today it went up from .20/coin to .30/coin. That's return. There's a lot of people playing it like a regular pump-n-**** kind of game right now (watching the trades in and out). My roommate bought a few thousand coins Monday, sold them last night for a $120 profit, bought back in today with another 400 coins from the profit. I assume many people are probably doing this. There have been huge trades going in for tens of thousands, then they'll sell high, wait for the price to drop 5-10 cents and buy back in to take larger positions. Someone's making easy money off all the speculation. That's a fact.

TechGromit

NetworkNewb wrote: »

Alright you guys got me interested. Just bought a couple Ethereum. You guys are a bad influence...

Working on setting up an Ethereum account now. I think I'll buy a thousand dollars worth of Ethereum, and maybe a few hundred in Ripple and forget about them. Check them in a couple of years. If I lose it all, I'm not too worried, I lost more on the stock market in the last few years, whats the worse that could happen?

p@r0tuXus

TechGromit, I don't know which exchange you're going through, but some of them have pretty sleek interface to hardware wallets that you can use to store your bitcoins offline and off all exchanges. That'd probably be the most secure way to hang onto them. Devices like Ledger Nano are cheap and the size of a (big) flash drive. There's also Trezor which has good reviews.

BrandonT2610

How come there are people who have said ripple is a scam? Im finding that as a research. I consider you guys pretty smart. Do you think Ripple might really become something? I ask because I kind of want to throw $500 into and see what it does in a few years. I've read that many banks are jumping on board. That seems promising, even if that's not what the crypto's want

BrandonT2610

I'd edit my typos.. but i'm not sure how to edit on here yet "haha"

TheFORCE

What exchanges are you using to trade these coins?

NetworkNewb

I bought the Ethereum on Coinbase. Feel like I could've done it cheaper elsewhere though... They just make it really simple.

Someone correct me if I'm wrong, but wouldn't it be best to make an eWallet on a site than buy Ethereum on GDAX?

You can't buy Ripple on those places I mentioned though.

TheFORCE

Bitcoin at 2840 now. Up 150 just today wtf

p@r0tuXus

It was up twice that amount when I first got to work this morning. ^ $342
Edit:
I used Coinbase to buy my BTC, but when I got Ripple I went through Bitstamp. I just xferred my BTC over to Bitstamp XRP wallet address and then sold in $USD, then bought XRP. The fees transferring all that back over to Coinbase just to cash in profits were a pain though. Unfortunately, my Credit Union isn't recognized by Bitstamp (Bitstamp is EU based, I live in US and CU is small non-profit).

NotHackingYou

Went to buy Ripple but Bitstamp isn't available in my state.

p@r0tuXus

NotHackingYou wrote: »

Went to buy Ripple but Bitstamp isn't available in my state.

Huh... That's interesting. If it's based on your bank, there may be nothing you can do about it. If it's based on the site not loading for your state, you might try a VPN server from another state or country. Maybe?

hurricane1091

How do we feel about ARK?

NetworkNewb

hurricane1091 wrote: »

How do we feel about ARK?

Looked OK, I was looking for another crypto to test out instead of ETH (where I've been putting all my money) and went with BAT. Only $100 though, nothing crazy.

hurricane1091

NetworkNewb wrote: »

Looked OK, I was looking for another crypto to test out instead of ETH (where I've been putting all my money) and went with BAT. Only $100 though, nothing crazy.

I went with ARK a little bit ago. The possibilities are strong, whether or not the implementation ever gets there is another story. Put 3 ETH on it. I considered BAT but decided against it since I can't see wide stream adoption, but maybe.

NetworkNewb

Yea, I agree I don't think BAT will be a long hold. Hoping the short term gains are there at the current price.

hurricane1091

I believe BAT can create add-ons for browsers, but if someone like Firefox launched an official partnership with BAT, I believe it would go to the moon. Not sure if that will ever happen, but the possibility makes it seem worth a gamble.

NetworkNewb

I downloaded their Brave Browser and it seems OK. It has some interesting features to it. The only annoying thing is with all the security features with it, some websites don't show some content or doesn't display like it should. Can sometimes take a little playing with the controls to get things to work.

Just downloaded it last night though.

NetworkNewb

Anyone else hoping for a price correction on ETH? So they can buy a lot more! Made a nice little chunk of change so far, glad this thread was started and got me looking in to it!

hurricane1091

I probably won't buy more, even though the price will keep going up and up. I'm pretty amazed at how much it has gone up since I got in. I'll keep holding ETH until it's 4 digits. Still looking for the next big thing. Will keep my ARK, might get LISK?

NetworkNewb

I'm interested to see how this IOTA does when it hits the markets tomorrow...

naclh2onaz

If you're interested in LISK, take a look at STRATIS. Ive got a little money in both

UnixGuy

a colleague claims he read about bitcoins last week, invest 5K this weekend and made a profit of 4K.....not sure what to believe


Question: is it worth understanding and investing in?


Disclaimer: I have no clue about it, and I'm very skeptical .

p@r0tuXus

NetworkNewb wrote: »

I'm interested to see how this IOTA does when it hits the markets tomorrow...

I'd say it did pretty good. All things considered, it shattered records with a $1.87 Billion market cap on the first day, although it has shrunk. I got in for a Gi (Giga-Iota, 1,000,000,000 IOT) the night before it went live on Bitfinex, only 1 exchange! It was an exciting day watching all the action. It hit $1.30 / Mi (Mega-Iota) at one point. I didn't know they were listing in Mi, so when I logged in I thought I had $100k in holdings. I was pumped after that, sadly as so many misunderstood, the reality of their grouping (1 Mi) was a staggering realization lol. There were a bunch of Whales thrashing around large holdings to make profit. It was insane to see some of the amounts being bought and sold so frequently. Now there's little liquidity at the moment as volume is low and people are holding it. That Forbes Article was pretty sweet.

UnixGuy wrote: »

a colleague claims he read about bitcoins last week, invest 5K this weekend and made a profit of 4K.....not sure what to believe

Considering the drop in price, and the fact that the start of the week coins weren't even $3K, I'd say a 5K investment did not yield a 4K return. If they all ready had coins and just added 5K, perhaps they could have made 4K profit, with enough coins all ready owned and buying and selling at the right time. Otherwise I'd doubt their claim.

NetworkNewb

UnixGuy wrote: »

Question: is it worth understanding and investing in?


Disclaimer: I have no clue about it, and I'm very skeptical .

If you started putting money into it when this thread began you could definitely have made some nice gains. I'm a little hesitant right now though. I think Ethereum might go above 400, possible close to 500. Maybe. But I'm not putting more money in and have taken a bunch of money out already. Will probably take the rest out if it hits 400.

Everything is speculation, but I read something about these big currency possibly getting regulated some time and it could burst this "bubble". It probably won't happen any time soon. Reason why I think it will go up more from it currents price. But just want to play it safe.

Just my 2 cents, not that anyone knows for sure what is going to happen with them though. Could double it current price by end of the year for all I know.

hurricane1091

I got in at 3 different price points for eth, averaging around $200. It was up to $412 but crashed to $250. Up to $360 now though. Lots of weak hands last week. Bitcoin went from $3k to $2k but had recovered to $2500.

chrisone

Crypto Currency is still in its infancy. Everything is still proof of work and proof of stake. Get in now, invest time to know ICOs, invest time to know blockchain technology, and understand this will be the future. I just built my new ETH miner 8x gtx1060 GPUs Now I am looking to invest in Litecoin L3 miners.


Here is some good material.
https://www.amazon.com/Ethereum-Blockchains-Decentralized-Autonomous-Organizations/dp/1523930470/ref=sr_1_1?ie=UTF8&qid=1497890720&sr=8-1&keywords=ethereum

https://www.amazon.com/Age-Cryptocurrency-Blockchain-Challenging-Economic/dp/1250081556/ref=pd_sim_14_4?_encoding=UTF8&pd_rd_i=1250081556&pd_rd_r=5B9VKS502A87F0Z0RVSN&pd_rd_w=fISsL&pd_rd_wg=LqZMm&psc=1&refRID=5B9VKS502A87F0Z0RVSN

https://www.amazon.com/Blockchain-Revolution-Technology-Changing-Business/dp/1101980133/ref=pd_sim_14_6?_encoding=UTF8&pd_rd_i=1101980133&pd_rd_r=5B9VKS502A87F0Z0RVSN&pd_rd_w=fISsL&pd_rd_wg=LqZMm&psc=1&refRID=5B9VKS502A87F0Z0RVSN

disip

I almost bought a bunch of btc at $35 a piece. Really wish I had.

the_Grinch

I bought some Waves and the company has sent me 10 ETH...pretty sweet deal for me