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Theoretically, could a large group of people manipulate cryptocurrencies by planning to purchase or sell en masse? In other words, could the members of this forum band together and schedule a mass purchase of bitcoin, ether, or another coin to manipulate the price, as it is speculated that a small group of wealthy individuals do with ther large holdings?
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I don't think that anybody should invest at so bullish market. Buy low, sell high. And there is a probability that we are at the high right now.
Other than buy low, sell high, this comment is not logical. There is a probability that ETH is at the high right now, but chances are it will go higher in the future. Relatively speaking, when BTC was at $600 it was low. So, even now, purchasing ETH now is likely to be profitable, unless you can produce a good reason why it will tank and not recover. |
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At no time should you have invested more in cryptocurrency than you can afford to lose. Don't invest such a small amount that you lose it all on fees.
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BTC wiill never be accepted as a common-use payment system unless it’s cost stablizes. If you were a retailer, would you want to accept BTC not knowing what value it would have in an hour? If you were to accept it based on value in any monetary denomination, it simply becomes a means of financial exchange, not money.
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All because of those stupid cryptokittens or whatever they are.
Seriously, I essentially said the same thing and my comment gets deleted. The moderators of this site are utter morons! |
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All Turkish Muslims are welcome to send their bitcoin to me. I wouldnt want them to incur the wrath of Allah. I on the other hand am willing to take the risk.
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You need to understand that Ripple and XRP are two different things. Since many banks are already using the Ripple network, the assumption should be that if banks begin using a cryptocurrency, they will chose XRP over BTC. However, in general, banks have not yet adopted use of XRP (the Ripple cryptocurrency) for use on the Ripple network. Up to now, Ripple has not made using XRP a requisite.
My assumption is that the motivation for this question is to know if XRP would overtake BTC in value if the banks adopt it use. if there is enough interest and banks begin using XRP, the value should increase. However, there will be a max of 10 billion XRP, whereas there will only be 21 million BTC. Based on supply/demand, the value of XRP would likely increase at a slower rate than BTC. But, if the banks use it, it will be a better long-term hold than BTC.
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I've been following this forum for a few weeks now and I'm honestly shocked as to how little 95% you know about economics or finance in general.
The Bitcoin community is filled with young, uneducated, and over-excited children "playing" with digital currency/asset as a hobby. None of you have the slightest clue as to how quickly the entire value of Bitcoin could be brought down to $0 in a matter of days.
Put aside your egos and "to the moon" mirages and think about the following. How will Bitcoin react if:
1.) The US government starts to regulate it? Or ban it? (GASP!)
2.) Another exchange is found to be a fraud?
3.) A bank or government created it's own cryptocurrency that's legal and trusted?
4.) Bitcoin has trouble scaling and it take days or weeks for transactions to process?
5.) Mining is no long feasible or profitable?
I am hopeful that a cryptocurrency will emerge in the near future. However, in my opinion, the issues above need to be addressed for any new cryptocurrency to even have a shot.
Save the "oMfG you're a N00B with 1 p0St" bullshit. I am an active investor in many different markets and industries. I'm hoping to open some of your eyes and bring you back to reality.
I am not young. And, I don't hold much bitcoin. But, OP, you comments betray you as being as ingorant about cryptocurrency and blockchain technology as you think the bitcoin community is about economics or finance. As has been mentioned by various previous posts, for most of us, purchasing cryptocurrency is a calculated risk. I only "invest" what I am willing to lose. I believe in the technology behind the cryptocurrency. And, no one can deny that new technology has always driven economic and finance. If you truly understand economics and finance, you understand that you must continue to think of them in new ways, as they adapt to new technologies. OP, I hope we can open your eyes to the fact that we are not all as young, uneducated, clueless, egomaniac children. We just might be seeing the future in a way you never imagined possible. |
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I hope altcoins are not damaged hard in the meantime.
ETH is already taking a hit. Hold steady. This is just a sell off, and we'll be back up in no time. |
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Why not? It's already dropped below $10K.
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I would take no advice from anyone who lists BTC as an altcoin. If someone doesn't understand what "alt" means, I would assume their rationale for listing certain altcoins may also be suspect.
My interest is in using coins to make coin, so they should have an intrinsic value that makes them as close to tangible as you can get in the crypto world.
ETH - Technologically speaking, ETH has great potential. Financially speaking, ETH should be around for a long time, and as long as it is, should steadily increase in value. I anticipate it following in BTCs footsteps, but for very different reasons.
XRP - Technologically speaking, XRP is already revolutionizing the finance industry. Financially, XRP should be around for a long time, but it may be more volitale and may not show steady increases.
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