Bitcoin and XRP, Time to buy

sgrinavi

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Usual 40% or so correction, it has happened every single time in the past BTC had a big run up, then had from a 37-43% correction shortly after. Some have been saying as low as $25k if it breaks $30k which it is fighting for its life right now and on and off last few hours


Looks like it's on the way back up with lots of buys going on

1611333832650.png
 

cdabc123

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Worried we see sub 25k prices pretty soon. I scaled out of my ETH position for now.
Eth apears to have some pretty strong resistance at 1k. I'm definitely holding the eth positions and would say they are almost looking abit better the btc when crypto is stagnating
 

sgrinavi

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Eth apears to have some pretty strong resistance at 1k. I'm definitely holding the eth positions and would say they are almost looking abit better the btc when crypto is stagnating

I've been told that ETH could go to $20k by the end of the year because of it's link with defi, BTC would have to go The Dickining level to do that well. I bought some in the 400's and some in the 700's, almost picked up more at 1000 but I'm not THAT confident.
 

cdabc123

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I've been told that ETH could go to $20k by the end of the year because of it's link with defi, BTC would have to go The Dickining level to do that well. I bought some in the 400's and some in the 700's, almost picked up more at 1000 but I'm not THAT confident.
I'm in pretty low this time around. (Last time around I was in it for the price of electricity)

20k is too ambicious if it stays coupled with btc and there is way too much money in crypto that would cash out before btc did anything astronomical. However it has a active dev team so I feel it could definitely gain some ground on btc if crypto stays near current price levels without any monumental changes.
 

MrGuvernment

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sgrinavi Ya, it has been going up and down though since the drop from 40k, but in the bigger picture, still going up and will go up. Unless someone is a day trader, zoom out! You are still making money so long as you did not buy in at the peak of the $40k or $35k up, but give it weeks or months and even if you did, you will end up positive.

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sgrinavi

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I'm in pretty low this time around. (Last time around I was in it for the price of electricity)

20k is too ambicious if it stays coupled with btc and there is way too much money in crypto that would cash out before btc did anything astronomical. However it has a active dev team so I feel it could definitely gain some ground on btc if crypto stays near current price levels without any monumental changes.

One of the few youtube crypto guys that I listen to

 

leftysiwel

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Hi everyone. New to the whole crypto game, but does anyone know where to buy ripple? The couple of places I was on say either they arent selling it just monitoring or it cant be sold to me in the US.

Thank you in advance and I hope you all have a great week!!
Bill
 

cdabc123

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Please provide some facts as to why please? versus useless one liners that do nothing to help anyone.
Im really not trying to go on a large rant for the validity of a cryptocurrency when so many of them are pointless money grabs or experiments that bring nothing new but marketing.

the main issues I have with ripple are the huge amount owned by the dev team that they have used in the past to try to manipulate the currency into different banking systems as well as it being nothing of decent complexity. so why buy it as instead of ltc, btc, doge, or any other of the simple cryptos? Ripple to me seams like a dev team trying to prop up a bs crypto using marketing and market manipulation to bring value to their own stake of the chain.

for comparison take a look at the whitepapers between ETH and XRP.
https://whitepaper.io/document/1/ripple-whitepaper
https://whitepaper.io/document/5/ethereum-whitepaper
 

Andrew_Carr

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I was just arguing with a bunch of people in another thread about bitcoin and cryptocurrency. It felt like 2011 or so when people were first learning about it and there was skepticism.
 

LukeTbk

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1) Retail is largely missing this go around... the demand is largely institutional
2) The selling of shovels analogy is a bit problematic here... BTC is mined by specialized hardware (ASICs) that are manufacturered by a few people are heavily backlogged. Further, GPU mining is back to being very profitable and there is a card shortage.

I haven't read the message at the time, has for number 2 I am not so sure to understand, the fact that the people do mining component cannot make them fast enough and sell everything the second they hit a "shelf" make it problematic ? I imagine people selling shovels/jeans and so on in 49 made a lot of money in similar ways, because of the shortage in the region.

If someone in march think to himself, hum with the world insecurity I can easily see a next crypto boom, but I am uneasy investing in it I will buy Nvidia stock instead, he would have made 250-300% on it's investment in less than 12 months (with 0 work and a very small risk)
 

MrGuvernment

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Im really not trying to go on a large rant for the validity of a cryptocurrency when so many of them are pointless money grabs or experiments that bring nothing new but marketing.

the main issues I have with ripple are the huge amount owned by the dev team that they have used in the past to try to manipulate the currency into different banking systems as well as it being nothing of decent complexity. so why buy it as instead of ltc, btc, doge, or any other of the simple cryptos? Ripple to me seams like a dev team trying to prop up a bs crypto using marketing and market manipulation to bring value to their own stake of the chain.

for comparison take a look at the whitepapers between ETH and XRP.
https://whitepaper.io/document/1/ripple-whitepaper
https://whitepaper.io/document/5/ethereum-whitepaper
You buy XRP because you want to potentially make money with a coin that is more likely to be accepted by the banks and other stinking rich companies :D XRP is massive in Asia an only growing. Yes, the company owning so many sucks but they have also been releasing them via escrow for a while now in a stead flow.


Ripple / RippleNet/ XRP is already in use with actual companies, unlike 99% of the other poop coins that are just rehashes of the same thing, much like the Linux OS world, everyone thinks they can do it better than the last but offer nothing really.
 

cdabc123

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You buy XRP because you want to potentially make money with a coin that is more likely to be accepted by the banks and other stinking rich companies :D XRP is massive in Asia an only growing. Yes, the company owning so many sucks but they have also been releasing them via escrow for a while now in a stead flow.


Ripple / RippleNet/ XRP is already in use with actual companies, unlike 99% of the other poop coins that are just rehashes of the same thing, much like the Linux OS world, everyone thinks they can do it better than the last but offer nothing really.
bitcoin is more likely to get accepted by banks and companies in the us then xrp is. The only reason xrp got the traction it did was them trying to hand out free money to anything that would promote them.

eth,btc,monero,zcash,ltc are all doing better then xrp is so if your only goal is to buy somthing to make money off of there are better options.

eth is used in real world companies in a much more healthy manner.

xrp is a shitcoin and your only going to beat btc or other crpytos if you buy in at the right time when they pull another pump and dump to try to cash in abit more of the free bs thats been handed around.
 

Asylum1

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Still a good time to diversify your portfolio.

Bitcoin could soon double in value.
 

Asylum1

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Another dip, good time to buy.

Americans Could Spend $40 Billion in Stimulus on Bitcoin, Stocks: Survey​

A new survey by investment banking firm Mizuho Securities found that many Americans are considering spending their stimulus money on crypto investments.​

 

MrGuvernment

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bitcoin is more likely to get accepted by banks and companies in the us then xrp is. The only reason xrp got the traction it did was them trying to hand out free money to anything that would promote them.

eth,btc,monero,zcash,ltc are all doing better then xrp is so if your only goal is to buy somthing to make money off of there are better options.

eth is used in real world companies in a much more healthy manner.

xrp is a shitcoin and your only going to beat btc or other crpytos if you buy in at the right time when they pull another pump and dump to try to cash in abit more of the free bs thats been handed around.

Bitcoin is not a utility coin like XRP, bitcoin is not to be used to replace swift for example or be a method to quickly move mass amounts of transactions around, they are for 2 completely different markets. BTC will be used to store value, like Gold and many say replacing gold. XRP is long term (as is BTC), you don't hold top 10 in the market by being a "shitcoin".
 

cdabc123

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Bitcoin is not a utility coin like XRP, bitcoin is not to be used to replace swift for example or be a method to quickly move mass amounts of transactions around, they are for 2 completely different markets. BTC will be used to store value, like Gold and many say replacing gold. XRP is long term (as is BTC), you don't hold top 10 in the market by being a "shitcoin".

Bit of a late reply.... Most cryptos can move a large amount of money around quickly and cheaply. The only one that cant is btc. Plenty of shitcoins in the top 10. Btc isnt a great crypto (however has no developer manipulation like xrp) bhc is trash, ltc is nothing special, and ive outlined reasons xrp is trash.

Xrp is not a utility coin. I would give that title to coins that have additional functionality ie. Eth smart contracts. I can easily move doge in the same way I can move xrp
 

Andrew_Carr

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Bitcoin is not a utility coin like XRP, bitcoin is not to be used to replace swift for example or be a method to quickly move mass amounts of transactions around, they are for 2 completely different markets. BTC will be used to store value, like Gold and many say replacing gold. XRP is long term (as is BTC), you don't hold top 10 in the market by being a "shitcoin".

Honestly, for the amounts of money I've sent with BTC I don't see why it couldn't replace SWIFT for most ordinary people. Need to send $5k to a friend in a foreign country? I can get it there in an hour or so with $2 in fees and be assured it won't get held up by his bank or anything. That's cheaper, faster, and less hassle than wiring money has been in my experience. I agree bitcoin probably wouldn't be a good solution for making purchases at the supermarket or something, but it seems pretty useable from my perspective for a wire transfer replacement.
 
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LukeTbk

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Need to send $5k to a friend in a foreign country? I can get it there in an hour or so with $2 in fees and be assured it won't get held up by his bank or anything.
Is that true, i.e. if you have $5000 (either cash or in a bank account), buying bitcoins, transferring bitcoins to that friend and that friend transferring it back to currency would be a total of only $2 in fees ?

That would be low indeed.

I imagine those cost we see (that would not be all the cost of what you would want to do):
https://ycharts.com/indicators/bitcoin_average_transaction_fee

Are if you want it to be a fast transaction ?
 

Andrew_Carr

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Is that true, i.e. if you have $5000 (either cash or in a bank account), buying bitcoins, transferring bitcoins to that friend and that friend transferring it back to currency would be a total of only $2 in fees ?

That would be low indeed.

I imagine those cost we see (that would not be all the cost of what you would want to do):
https://ycharts.com/indicators/bitcoin_average_transaction_fee

Are if you want it to be a fast transaction ?

Yeah, it's really not bad at all.
https://bitcoiner.live/
 

MrGuvernment

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Sure BTC is great to send money to friends, one time drops, but now send your friend 100's of transactions a second and watch BTC fall apart, fees through the roof, processing time et cetera, why other coins are leading the way in this due to sheer volume alone as almost non existent fee;s
 

jmilcher

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And we may very well be returning to this thread when/ifbtc crashes again. It has happened many times, and I have been following it literally since the inception of usable btc as a service.
 

noko

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i wish it'd go back to 5k each
or 500....or even 5....
If it went back to $5, doubt anyone would put further trust in the coin and the many mining farms would fold up. Hey maybe GPU mining of BTC will become big again. Traditionally around 80% drop when it really falls, so .2 X $60,000 = around $12,000. Long time holders/players/investors this is no big thing, newcomers on the other hand not so good. Now back in 2017 BTC had a drop, pretty significant and then later in the year it hit it all time high of around $20,000. Afterwards drifted to low $3000. This time around is more interesting since you actually do have firms investment, if they start to dump, some major fireworks maybe will be seen. Many would be ruined so to speak, regulation I would think would be pushed much harder.
 

MrGuvernment

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Clearly many in this thread have never used lightning...

Which is new, for years other tokens have done it better. BTC is just playing catch up to add things most other tokens have had for years. BTC is literally just stealing what other tokens have already to try and stay relevant versus just staying as store of value. BTC core dev's have had their heads up their butts for years and kept out most other developers trying to improve it for the better for mass expansion and capabilities. Only now in 2020/2021 have they somewhat got a clue and have even considered allow a soft fork to happen to make it better.
 
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