Cryptocurrency

[EstonianLongDong]

Anyone else here speculating on cryptocurrency? I currently have made 500% profit in just 2 months. I currently have Ripple, Ripio Credit Network, PowerLedger and Decentraland. I honestly do think this technology is the future, and I expect big gains in 2018 for these altcoins. What do you think about the industry? Do you have any?

[Fluminator]

Ripple sucks.

[EstonianLongDong]

Sounds like the response of someone who has missed out on the recent gains

[Fluminator]

Haha. No (well I guess technically yes because I didn't invest in that one), I just think Ripple goes against everything cryptocurrency stands for.

The new one I'm most interested in right now is Stellar (bit of a cliche answer sure), but I trust the creators of Signal and have used their app for years now, so if they approve, I approve.

[Randomizer]

You have to consider the lack of security if the site is hacked, you can suffer a real loss. At least with conventional currencies through a licensed broker you have insurance against most losses.

One bit coin site only paid back 75% of what people had before closing. That doesn't count fluctuations in value compared to the dollar.

[ND]

I made a shit ton of money on Ripple.

[ND]

They joy of buying in under 20 cents and then seeing it rise to 3 dollars mmmhmm

[chluke]

@Fluminator, what specifically don't you like about Ripple?

[ND]

I wouldn't buy into Ripple now. It's an all time high. Wait until it stabilizes or you risk being burned.

[ND]

just my opinion of course

[EstonianLongDong]

I have a hardware wallet so its secured. Obviously, Ripple is centralized, and its functions is for improved banking, so I understand what Fluminator means.

ND, I agree ripple is set to make $5 per coin by the end of 2018, considering it will be listed on Coinbase soon. My sleeper is IOTA, im planning on getting in soon.

[Randomizer]

http://money.cnn.com/2018/01/03/technol ... index.html

[peterlund]

I never take part in any kind of pyramid game and BitCoins are exactly that...

[EstonianLongDong]

Peter, the fact you think cryptocurrency is only bitcoin just shows how little people like you really know.

I am no trying to be mean, but this type of ignorance is what has stalled this tech from becoming mainstream the past few years.

[peterlund]

Yes there is a lot of HYPE around bitcoins which your messages prove! But a currency I use, I want to be both stable and worth something in the real world. I cannot eat a bitcoin... I do not have any interest in speculating in this kind of thing. It is much worse than the stock exchange, which also could be considered a pyramid game to some extent but not at all as bad. The stock value is at least to some extent related to the dividend payed out and to the profit of the company.

[EstonianLongDong]

I did not know you ate currency, Peter, that might be unsafe...

I assume you own only gold, silver and other precious metals since it seems you dont believe in fiat currency.

I do agree with you though Peter, that bitcoin has limited functionality. However what you seem to not understand is that there are alternative, with REAL functionality. Let us look at Ripple, as an example. (Note: I think other misconception is that these 'cryptocurrencies' are currencies, when they all are differing in nature. Ripple is actually a network.)

The Ripple network is a new payment technology that does for money what the Internet did for information. It is an Internet protocol, like HTTP for money. Using Ripple you can send payments to anyone in the world, in any currency, instantaneously, for less than any existing payment system.

The Ripple network is an open source peer-to-peer payment network with an integrated distributed currency exchange and a native math-based crypto currency called XRP (or Ripples) that acts as anti-spam mechanism and bridge currency. Ripple enables free payments to merchants, consumers, businesses and developers, ability to pay in any currency (Dollar, Bitcoin, Euro, Yen, XRP...), no charge backs and instant global payments.

So Peter, so "cryptocurrencies" do have a value for a reason, even if volatile. They are aimed at solving real world solutions.

Any responses are encouraged :)

[Fluminator]

@chluke, pretty much what Long Dong said. It's actually pretty good for what it intends to do, but it is certainly different from what most people consider cryptocurrency to be.

@peterlund, you could also look to Etherium which was designed to utilize the Block Chain for more than just transactions making it not intrinsically useless. Even if it's intrinsically useless, the fact that it allows a decentralized currency is pretty very useful - especially for people in third world countries looking to have an easily transferable money source that the government doesn't have complete control over.

[Stressedlines]

I had some Ripple, sold at 1.60 REQ i had quite a bit of and sold it at I think .72, but bought it a LONG time ago under .20

I like ETh more than BTC, for a lot of reasons. It is my chosen 'go to' when I buy in usually, but right now ETh is way way up, so I think if i bring money from the deck in, it will be into BTC.

SNM and FUN are the 2 IM looking at the most right now I am sitting on a LOT of FUn upwards of 30K coins, all bought pre .05 As I did here looking, its playing at the .12-.13 range Binance however is down, so I dont know SNM, I hold about 5K of, but I have sold out of it twice, and bought back in a little lower

Dont matter though< ill end up holding it til it hits .25 at least

[Stressedlines]

and FUN goes off this morning hits .21 Sold off 50% of my holdings, and went into ELF very quickly

[Maniac]

Anyone else here speculating on cryptocurrency?

Define speculating? Are you just betting/wagering or buying for investment.

If trading for investment, do you have a strategy? Are you investing small portions of your available wealth in each trade or going 'all-in' and have your entire fortune on the line?

There is nothing wrong with betting on the direction of currencies, but many people are betting when they think they are investing. They should know what they are doing, and if the evidence of my social media friends is anything to go by, people know very little about what they are doing.