General Anyone follow cryptocurrencies (bit coin, ethereum, etc.) ?

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BeardOfKnowledge

The Most Consistent Motherfucker You Know
Jul 22, 2015
60,719
56,226
1.79 right now
I bought 40 bucks more on Thursday so I've got a little over a hundred of them at 85 cents a piece. Balked at buying more at $1.40 thinking they'd be back down close to a $1/piece by this point.
 

jason73

Auslander Raus
First 100
Jan 15, 2015
74,564
136,924
I bought 40 bucks more on Thursday so I've got a little over a hundred of them at 85 cents a piece. Balked at buying more at $1.40 thinking they'd be back down close to a $1/piece by this point.
i sold half mine when it hit 1.30 because i expected it to crash immediately. i still have 130 left that i picked up for .56 and .47
 

BeardOfKnowledge

The Most Consistent Motherfucker You Know
Jul 22, 2015
60,719
56,226
i sold half mine when it hit 1.30 because i expected it to crash immediately. i still have 130 left that i picked up for .56 and .47
An extremely unreliable source told me it's going to be up to $10k within 10 years. I don't believe them and think the guy is a nut job, but I've doubled my money on it in less than a month, so what the fuck do I know?
 

jason73

Auslander Raus
First 100
Jan 15, 2015
74,564
136,924
An extremely unreliable source told me it's going to be up to $10k within 10 years. I don't believe them and think the guy is a nut job, but I've doubled my money on it in less than a month, so what the fuck do I know?
they are cheap enough that it is worth holding on to a few of them to see what happens . i said the same thing when btc was like 33 bucks and i would be loaded if i even spent 100 bucks on them back then
 

BeardOfKnowledge

The Most Consistent Motherfucker You Know
Jul 22, 2015
60,719
56,226
they are cheap enough that it is worth holding on to a few of them to see what happens . i said the same thing when btc was like 33 bucks and i would be loaded if i even spent 100 bucks on them back then
I still remember a conversation with a co-worker in 2008 where we talked about throwing 100bucks each on Bitcoin. We didn't and in hindsight definitely should have.
 

SoupCan

how bout dat
First 100
Jan 18, 2015
2,675
3,201
An extremely unreliable source told me it's going to be up to $10k within 10 years. I don't believe them and think the guy is a nut job, but I've doubled my money on it in less than a month, so what the fuck do I know?
Brilliant play, so your playing with house money and you've walked away with a profit already. It fails you've still won it rockets and you look even more smart
 
D

Deleted member 1

Guest
Also I have heard 10k as well, I'll hold and dream
XRP?
It'll never happen.
Guys look at market cap and would that would mean.

XRP has 100 billion premined coins.
If you have ONLY half in trading circulation, you'd still need 500,000,000,000,000 dollars to generate that market cap (yes that's 500 TRILLION). You have to have that amount of wealth stored into this network in the first place and I don't see that happening.

And what would make people put wealth in XRP to store? What's the value of XRP outside of pyramid scam?

It's a currency trading technology for institutions. There is processing by the XRP network and the more you hold the more likely you are to get a share of the processing. So you could make the case that the value should be somewhere around the inverse of the return (lets assume the market settles on 7% otherwise why not go to any other safer market?) So you can look at what the transaction charges would be (gain). And then you could figure out from there X for a 7%+ return. And there is your future XRP value to justify locking up your wealth to be part of a distributed payment processor. I haven't looked at XRP for the last couple years so not sure what the ongoing transaction process/cost is, but that's how you figure out this coin value outside of speculation and pyramid scheme (which the latter could still result in a lot of money, but never 10,000)
 

Qat

QoQ
Nov 3, 2015
16,385
22,488
XRP?
It'll never happen.
Guys look at market cap and would that would mean.

XRP has 100 billion premined coins.
If you have ONLY half in trading circulation, you'd still need 500,000,000,000,000 dollars to generate that market cap (yes that's 500 TRILLION). You have to have that amount of wealth stored into this network in the first place and I don't see that happening.

And what would make people put wealth in XRP to store? What's the value of XRP outside of pyramid scam?

It's a currency trading technology for institutions. There is processing by the XRP network and the more you hold the more likely you are to get a share of the processing. So you could make the case that the value should be somewhere around the inverse of the return (lets assume the market settles on 7% otherwise why not go to any other safer market?) So you can look at what the transaction charges would be (gain). And then you could figure out from there X for a 7%+ return. And there is your future XRP value to justify locking up your wealth to be part of a distributed payment processor. I haven't looked at XRP for the last couple years so not sure what the ongoing transaction process/cost is, but that's how you figure out this coin value outside of speculation and pyramid scheme (which the latter could still result in a lot of money, but never 10,000)
 

jason73

Auslander Raus
First 100
Jan 15, 2015
74,564
136,924
XRP?
It'll never happen.
Guys look at market cap and would that would mean.

XRP has 100 billion premined coins.
If you have ONLY half in trading circulation, you'd still need 500,000,000,000,000 dollars to generate that market cap (yes that's 500 TRILLION). You have to have that amount of wealth stored into this network in the first place and I don't see that happening.

And what would make people put wealth in XRP to store? What's the value of XRP outside of pyramid scam?

It's a currency trading technology for institutions. There is processing by the XRP network and the more you hold the more likely you are to get a share of the processing. So you could make the case that the value should be somewhere around the inverse of the return (lets assume the market settles on 7% otherwise why not go to any other safer market?) So you can look at what the transaction charges would be (gain). And then you could figure out from there X for a 7%+ return. And there is your future XRP value to justify locking up your wealth to be part of a distributed payment processor. I haven't looked at XRP for the last couple years so not sure what the ongoing transaction process/cost is, but that's how you figure out this coin value outside of speculation and pyramid scheme (which the latter could still result in a lot of money, but never 10,000)
i would be happy if it hit 5 bucks
 

BeardOfKnowledge

The Most Consistent Motherfucker You Know
Jul 22, 2015
60,719
56,226
XRP?
It'll never happen.
Guys look at market cap and would that would mean.

XRP has 100 billion premined coins.
If you have ONLY half in trading circulation, you'd still need 500,000,000,000,000 dollars to generate that market cap (yes that's 500 TRILLION). You have to have that amount of wealth stored into this network in the first place and I don't see that happening.

And what would make people put wealth in XRP to store? What's the value of XRP outside of pyramid scam?

It's a currency trading technology for institutions. There is processing by the XRP network and the more you hold the more likely you are to get a share of the processing. So you could make the case that the value should be somewhere around the inverse of the return (lets assume the market settles on 7% otherwise why not go to any other safer market?) So you can look at what the transaction charges would be (gain). And then you could figure out from there X for a 7%+ return. And there is your future XRP value to justify locking up your wealth to be part of a distributed payment processor. I haven't looked at XRP for the last couple years so not sure what the ongoing transaction process/cost is, but that's how you figure out this coin value outside of speculation and pyramid scheme (which the latter could still result in a lot of money, but never 10,000)
Sounds to me like someone's mad he didn't get in on Ripple at 50 cents.
 

BeardOfKnowledge

The Most Consistent Motherfucker You Know
Jul 22, 2015
60,719
56,226
It's not to late, jump in my man
Make no mistake his post is both accurate and logical, but the same logic applies to gold. Cryptocurrency is like collecting baseball cards and the market will dictate what it's worth. I still remember people trying to explain why Bitcoin is stupid, actually worthless and a stupid investment. All of those observations are as accurate today as they were 10 years ago, yet Bitcoin is currently selling for 50k per coin.
 

SoupCan

how bout dat
First 100
Jan 18, 2015
2,675
3,201
Make no mistake his post is both accurate and logical, but the same logic applies to gold. Cryptocurrency is like collecting baseball cards and the market will dictate what it's worth. I still remember people trying to explain why Bitcoin is stupid, actually worthless and a stupid investment. All of those observations are as accurate today as they were 10 years ago, yet Bitcoin is currently selling for 50k per coin.
Correction 62,702 per coin

I get it, my crayon eating self cant figure it out but I do know I like xrp..