Cryptocurrency

[Look-Up!]

I considered buying bitcoin this time last year after things dropped in March, Tesla too, while they were still punts, but long story short I didn't. In hindsight it would have been a massive windfall.

Now though, bitcoin looks very risky to me and hugely speculative. I wouldn't like to be holding, buying at current prices. I get the "this is the future" vibe, and I know it is a massive industry that has hugely effected worldwide business and investment, but I cannot get my head around the valuation for what is esentially a code, medium of exchange, call it what you want. Some people are predicting it to go to 1 million soon. At 22 million of them in the chain, that puts the valuation at $22 trillion. All in the hands of those who got in early. And those not holding? That's one hell of a wealth re-adjustment when you can just create another crypto. Tulips in Holland come to mind.

Having said all that I don't mind a punt and I think crypto will be a thing but confused at what to buy. No interest in speculating, just buy something cheap to hold and see if they take off. I have been recommended XRP some time ago. How do people think it will go?

[thejuice]

Blockchain technology will be used in the future for sure but which cryptocurrencies will still be around remains to be seen. I'm only in it for the money to be quite honest but that being said there are some clear use cases see VeChain for example but there's still a bit of work to do to make mass adoption a reality. The PayID project is one example of how they want to make sending money as easy as sending a text or email. While for many end users they can already do this but the checking and back of house stuff that we don't see is what will be improved. It should make banking cheaper and quicker, sending international payments will become something that takes seconds not days.

Right now it's like the dot com bubble. There will be some big winners in the long term but a lot of speculation going on right now. There's a lot of crypto projects that will be swept away either with more regulatory clarity or just becoming obsolete. It's a bit like the wild west at the moment but there's no denying that there is a lot money to be made.

Bitcoins biggest problems as a means of everyday payments is it's too slow, too costly to send and it uses masses of energy that can't be sustained. As a store of value it's great but that's largely down to it's got the name recognition and good tokenomics. XRP is light years better as a means of everyday payments. It is the opposite of bitcoin in the sense that there is loads of it to go around (100bn) it's lightning fast, costs almost nothing to use and it's energy consumption is the equivalent of a lightbulb.

[bannside]

A few of us got together and mined for crypto about 6 years ago when this was all in its infancy. Our crypto of choice was Litecoin, as it took a lot longer to produce a Bitcoin with our fairly basic mining equipment. Nevertheless we produced about 2 Bitcoins and 15 Litecoin (we punted on it being the next big thing). But after a few months the novelty wore off and emptied our wallets to reimburse the set up costs and make a small but tidy profit, around the time Bitcoin was worth around £2k!

Maybe we should have kept her lit a bit longer lol.

[Look-Up!]

Never bothered with the mining but it's mental the money behind it. Think you did ok, I'd imagine that the more sophisticated technology needed to mine as more bitcoin unlocked would have made the upgrade costs prohibitive anyway. 

The whole craze pissed off a lot of gamers though and put graphics card prices through the roof. Crazy to think what it done to share prices for the likes of Nvidia and the other big manufacturer (can't think of name). They couldn't make the things quick enough and made a lot of shareholders very rich. Just goes to show there's always money to be made and lost and more than one way to skin a cat.

[RadioGAAGAA]

Crazy to think what it done to share prices for the likes of Nvidia and the other big manufacturer (can't think of name).

AMD, just the maker of the best CPUs on the planet right now...

[RedHand88]

Jesus this mass adoption bullshit all over again.

Honesty is there anyone on here actually using (as opposed to simply holding) cryptocurrency? 99.99% of cryptocurrency trading is as speculation. Doesn't make them worth anything at all.

It's 1997 and crpytocurrency is the World Wide Web.
Yes it's clunky and slow to complete a transaction but can anyone remember what dial up Internet was like in the late 90s? It would be unusable by today's standards but we worked at it and it got better and better.

Through every dip and crash hurled at it, crypto has come back stronger and stronger each time. 1 bitcoin will be worth $100k by the end of 2022. Bookmark this page if you want to prove me wrong.

[clarshack]

Jesus this mass adoption bullshit all over again.

Honesty is there anyone on here actually using (as opposed to simply holding) cryptocurrency? 99.99% of cryptocurrency trading is as speculation. Doesn't make them worth anything at all.

It's 1997 and crpytocurrency is the World Wide Web.
Yes it's clunky and slow to complete a transaction but can anyone remember what dial up Internet was like in the late 90s? It would be unusable by today's standards but we worked at it and it got better and better.

Through every dip and crash hurled at it, crypto has come back stronger and stronger each time. 1 bitcoin will be worth $100k by the end of 2022. Bookmark this page if you want to prove me wrong.

That's where XRP comes in.

[trailer]

Jesus this mass adoption bullshit all over again.

Honesty is there anyone on here actually using (as opposed to simply holding) cryptocurrency? 99.99% of cryptocurrency trading is as speculation. Doesn't make them worth anything at all.

It's 1997 and crpytocurrency is the World Wide Web.
Yes it's clunky and slow to complete a transaction but can anyone remember what dial up Internet was like in the late 90s? It would be unusable by today's standards but we worked at it and it got better and better.

Through every dip and crash hurled at it, crypto has come back stronger and stronger each time. 1 bitcoin will be worth $100k by the end of 2022. Bookmark this page if you want to prove me wrong.

That's where XRP comes in.

Pissy that you can't buy it at the minute on Coinbase.
I'm all in anyway. Crypto is the new gold and I have a coinbase account and am up and running. I intend to buy Bitcoin and a few other Altcoins regularly going forward.

[tiempo]

Jesus this mass adoption bullshit all over again.

Honesty is there anyone on here actually using (as opposed to simply holding) cryptocurrency? 99.99% of cryptocurrency trading is as speculation. Doesn't make them worth anything at all.

It's 1997 and crpytocurrency is the World Wide Web.
Yes it's clunky and slow to complete a transaction but can anyone remember what dial up Internet was like in the late 90s? It would be unusable by today's standards but we worked at it and it got better and better.

Through every dip and crash hurled at it, crypto has come back stronger and stronger each time. 1 bitcoin will be worth $100k by the end of 2022. Bookmark this page if you want to prove me wrong.

Is that all?

[Look-Up!]

Crazy to think what it done to share prices for the likes of Nvidia and the other big manufacturer (can't think of name).

AMD, just the maker of the best CPUs on the planet right now...

Yes they're the ones. I'll take your word for it on the CPUs, out of interest is that graphics or computer CPU you're referring to?

In any case both of them have done well out of the scramble for graphics CPUs from the mining community. Just from a quick check, if you had bought shares in AMD 5 years ago you would have seen well over 4000% return on your investment. For Nvidia a more modest 1500%. Maybe not as exciting as investing in crypto but certainly a safer bet than trying to guess which coins would make it.

[Seamus]

Jesus this mass adoption bullshit all over again.

Honesty is there anyone on here actually using (as opposed to simply holding) cryptocurrency? 99.99% of cryptocurrency trading is as speculation. Doesn't make them worth anything at all.

It's 1997 and crpytocurrency is the World Wide Web.
Yes it's clunky and slow to complete a transaction but can anyone remember what dial up Internet was like in the late 90s? It would be unusable by today's standards but we worked at it and it got better and better.

Through every dip and crash hurled at it, crypto has come back stronger and stronger each time. 1 bitcoin will be worth $100k by the end of 2022. Bookmark this page if you want to prove me wrong.

That's where XRP comes in.

XRP will do extremely well but nothing compared to XLM which is a hard fork of it. Close to the same price at the moment but that is soon to drastically change.

[gallsman]

XRP, to quote a certain Dubliner, will do fookin' nuttin'. Pure scam and always has been.

https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam/

[Seamus]

XRP, to quote a certain Dubliner, will do fookin' nuttin'. Pure scam and always has been.

https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam/

Personally I would never take advice on cryptocurrency from a person that never owned nor intends to own it in the future. I do agree with him in that XRP is not decentralized. XPR will still be around in say 2025 and by the end of this year alone may probably do a 40X from today's price and will at some stage reach 100 bucks. Not too shabby for a coin that is a "pure scam and will do fookin nuttin".  I never had XRP and never will, not in my top 20. This the last word I will say on the matter.

[gallsman]

XRP, to quote a certain Dubliner, will do fookin' nuttin'. Pure scam and always has been.

https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam/

Personally I would never take advice on cryptocurrency from a person that never owned nor intends to own it in the future. I do agree with him in that XRP is not decentralized. XPR will still be around in say 2025 and by the end of this year alone may probably do a 40X from today's price and will at some stage reach 100 bucks. Not too shabby for a coin that is a "pure scam and will do fookin nuttin".  I never had XRP and never will, not in my top 20. This the last word I will say on the matter.

a) it's an exposé, not investment advice
b) the chances of XRP ever hitting $100 are precisely zero.

[clarshack]

XRP, to quote a certain Dubliner, will do fookin' nuttin'. Pure scam and always has been.

https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam/

Personally I would never take advice on cryptocurrency from a person that never owned nor intends to own it in the future. I do agree with him in that XRP is not decentralized. XPR will still be around in say 2025 and by the end of this year alone may probably do a 40X from today's price and will at some stage reach 100 bucks. Not too shabby for a coin that is a "pure scam and will do fookin nuttin".  I never had XRP and never will, not in my top 20. This the last word I will say on the matter.

a) it's an exposé, not investment advice
b) the chances of XRP ever hitting $100 are precisely zero.

who knows but whenever the SEC case gets settled it will at least get to it's previous ATH which is approx 8X from it's current price. not a bad wee profit to be had.