Red-Apple
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June 01, 2017, 02:27:29 PM |
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Almost a 300BTC sell wall on Bitstamp at 2175EUR
Edit: It's getting demolished FAST
if price went up in the next 24 hours know that it was because i sold some bitcoin to pay the bills ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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jbreher
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June 01, 2017, 02:29:18 PM |
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So, im bullish on Ripple, like many other. This doesnt mean i dont have my BTC stash in place, and believe me, my BTC dont get jealous.. so why all the fuzzle?
The fact that the company owns XRP tokens in semi-infinite quantities is a real hindrance to the value of each such token. Their ability to profit off the seignorage works directly against the interest of XRP hodlers.
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bitserve
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June 01, 2017, 02:37:49 PM |
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and I'm also still not convinced most institutions will ever find a use for anything in the crypto space in their lifetime.
exaclty, this is why RIPPLE is unique in the crypto space. Because its not designed for the end user, but instead for the bank. Its B2B. All the crypto revolutionary technology has been focusing on end users. Finally theres one that is focused on the banking industry. BTW i forgot to say before that a third party IS needed for creating a model that banks will adopt. Either consensus on a model or a third party providing a system. What would be crazy is for the banks to make each of them their own tool or software. XRP works as a common ground, a new standard. All the other cryptos are tools for the end user. So i stick with BTC the leading one. Then ETH is promising to use blockchain for a whole new layer of possibilities, so wow. all the rest arent different or mostly are copies of either BTC or ETH but with less brand n momentum EDIT: i just checked the RIPPLE web again, man im ULTRA BULLISH on this (so 70% on BTC, 20%XRP, 10%ETH) ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I think you are confussing the technology infraestructue (Ripple) with one single token (XRP). If banks where to adopt Ripple technology they wouldn't be using XRP. They would use their own token to transfer FIAT (EUR, USD, etc). They won't be touching XRP. For the same reason, if you like the tech behind, why ETH and not ETC instead? And if it just for the tech.... what would be the advantage of ETH/ETC when Rootstock is in place for BTC? Not saying you won't be doing well with your investment, just arguing about the reasons you are giving.
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valta4065
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June 01, 2017, 02:51:39 PM |
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So, im bullish on Ripple, like many other. This doesnt mean i dont have my BTC stash in place, and believe me, my BTC dont get jealous.. so why all the fuzzle?
The fact that the company owns XRP tokens in semi-infinite quantities is a real hindrance to the value of each such token. Their ability to profit off the seignorage works directly against the interest of XRP hodlers. Sure. The problem isn't really about how XRP works but how they were created. Once XRP goes to the top the company will simply sell a part of the stash and that's all. No way people will ever use this shit.
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bitjanja
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June 01, 2017, 03:02:44 PM |
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So, im bullish on Ripple, like many other. This doesnt mean i dont have my BTC stash in place, and believe me, my BTC dont get jealous.. so why all the fuzzle?
The fact that the company owns XRP tokens in semi-infinite quantities is a real hindrance to the value of each such token. Their ability to profit off the seignorage works directly against the interest of XRP hodlers. This i cant argue because i lack good understanding of this seignorage concept. However, we could fall back to a safety net -> Doing this (failing to fullfill and deliver expextations to some extent), will in fact go against their roadmap and long term plans. right? I think you are confussing the technology infraestructue (Ripple) with one single token (XRP). If banks where to adopt Ripple technology they wouldn't be using XRP. They would use their own token to transfer FIAT (EUR, USD, etc). They won't be touching XRP.
For the same reason, if you like the tech behind, why ETH and not ETC instead?
And if it just for the tech.... what would be the advantage of ETH/ETC when Rootstock is in place for BTC?
Not saying you won't be doing well with your investment, just arguing about the reasons you are giving.
Ok, my understanding is that Ripple is the company providing the platform and tech, but the tech is XRP itself. XRP is the token that enables fastest money transmission available, up to 1000 trasactions per second according to their claims, capable of handling visa volumes. So there isnt any money transmitting without XRP. So yes, the banks use platform to make transactions between currencies, and the platform uses XRP. Quoting XRP portal -> "Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts." And about the the tech, it not just for the tech. I dont go with ETC cause it hasnt won the "battle". Tech is a base and a fundamental but it isnt all. Look at BTC, many can argue that it is NOT AT ALL the best crypto tech outta there, but most still support it right? Really im not sure if i got it right, but by looking at most ppl responses, i think is just everybody is "cheerleading" blindly BTC. As i said earlier, i love BTC (and most of my tiny investment is on BTC), but ppl really need to NOT MARRY AN ASSET and make their research properly (not meaning you, but the fanatic replies). Again i dont know if i got all correct, but at least im trying to look at it rationally. Thanks for your response BTW.
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elebit
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June 01, 2017, 03:06:24 PM |
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So, maybe i am understanding it wrong, but as far i understand, ripple tokens are used in the negociation process when interchanging different currencies by the banking system. The further on ripple adoption, the more value the token bears.
No, Ripple tokens are not used for that. The Ripple network can exchange IOU tokens, and these tokens may represent dollars, yen, or XRP. If two banks were to use Ripple to exchange dollars, at no point would they touch XRP and it would not affect its value. I don't know if anyone told you that to sell you XRP, but it might be wise to know the basics of whatever tokens you trade. The use of XRP is more like a demonstration of the technology. Ripple says banks could use XRP to lend to each other. Yeah, they could, but in the unlikely case Ripple becomes big with banks they would use it to transfer dollars. Ripple says XRP will be used to pay transaction fees. Sure, but to Ripple the company. Ripple the company can create as many XRP as they deem necessary. If you choose to trade it you must know these things. However, more fundamentally, i find your words extremely bold, nearly like accusations of scam to ripple.
At no point did I call Ripple a scam. But it is important to correct false ideas what Ripple is used for, so people don't buy under false pretenses.
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JimboToronto
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June 01, 2017, 03:10:39 PM |
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Good morning Bitcoinland. It's nice to see we've broken out of the doldrums and seem to be heading up again... currently $2421USD (Bitcoinaverage). We're pretty much back to where we were the day before the one-day mini-bubble and crash a week ago. Let's hope we keep going up in a moderate controlled fashion. when did this topic stopped being the "wall observer" with "bitcoin" charts and some analysis on them and on the bitcoin market and become cheer leading for altcoins thing?!!
Annoying isn't it? Especially when there's already a whole separate section of this forum devoted to altcoins. People shilling their altcoins, precious metals, etc. should remember this is BitcoinTalk. I've got nothing against hog bellies, precious metals, crude oil, altcoins, ownership shares in companies, government bonds, or any other asset classes, but this is not SpeculativeInvestmentTalk. We're here to discuss Bitcoin. Only this one sub-folder is about speculation and that's Bitcoin speculation.
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bitjanja
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June 01, 2017, 03:14:12 PM |
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Sure. The problem isn't really about how XRP works but how they were created.
Once XRP goes to the top the company will simply sell a part of the stash and that's all. No way people will ever use this shit.
This IS NOT apparently Ripple bussiness model. Maybe it can get to that extreme, but it would be a good bussiness decision. 1. They claim to be releasing the XRP supply through a curve that is available to study on their portal. 2. They are announcing to have put the supply on escrow, and to be in the way of decentralization... (i guess they gotta be appealing to some of the BTC flock right ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) People arent meant to be using these "shit". Banks are. The more banks they use it for their Forex, the more up XRP goes. To scream that the company is waiting to "scam" its users is very unreasonable.
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bitjanja
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June 01, 2017, 03:20:00 PM |
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So, maybe i am understanding it wrong, but as far i understand, ripple tokens are used in the negociation process when interchanging different currencies by the banking system. The further on ripple adoption, the more value the token bears.
No, Ripple tokens are not used for that. The Ripple network can exchange IOU tokens, and these tokens may represent dollars, yen, or XRP. If two banks were to use Ripple to exchange dollars, at no point would they touch XRP and it would not affect its value. I don't know if anyone told you that to sell you XRP, but it might be wise to know the basics of whatever tokens you trade. The use of XRP is more like a demonstration of the technology. Ripple says banks could use XRP to lend to each other. Yeah, they could, but in the unlikely case Ripple becomes big with banks they would use it to transfer dollars. Ripple says XRP will be used to pay transaction fees. Sure, but to Ripple the company. Ripple the company can create as many XRP as they deem necessary. If you choose to trade it you must know these things. However, more fundamentally, i find your words extremely bold, nearly like accusations of scam to ripple.
At no point did I call Ripple a scam. But it is important to correct false ideas what Ripple is used for, so people don't buy under false pretenses. thanks @elebit i appreciate your answers, im just exploring this thing, wanting to decide if holding XRP for some time or just speculating for short time. I understand from your words that XRP is only used for FX then?
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bitserve
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June 01, 2017, 03:29:58 PM |
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Ok, my understanding is that Ripple is the company providing the platform and tech, but the tech is XRP itself. XRP is the token that enables fastest money transmission available, up to 1000 trasactions per second according to their claims, capable of handling visa volumes. So there isnt any money transmitting without XRP. So yes, the banks use platform to make transactions between currencies, and the platform uses XRP.
I hear you. Here lies the misunderstanding. If I thought that I would be investing in XRP of course. And maybe that's the same misunderstanding that has created the XRP bubble (75x in a couple months... hello???) if many people think the same. But it isn't like that. What banks would do is replicate a Ripple network, probably not even use the one you use and know as Ripple/XRP, and use their own issued tokens (as if they were "Ripple" itself). There is no way banks would be using an "alien" cryptocurrency at the core of their transactions bussiness. Not XRP, not Bitcoin, not anything except what they can control 100%. Bankers may be many things, but they are not stupid when it comes to doing money. As I said I don't even think they will be using Ripple Lab's Ripple Network... but a replica of it... oh yeah, maybe they also replicate the token and name it XRP... but then it will be THEIR XRP not the one you are holding right now. Coming back to topic, it looks that not only we are having a good uptrend but also some healthy dip. Not looking bad to me.
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HI-TEC99
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June 01, 2017, 03:37:17 PM Last edit: June 01, 2017, 04:44:20 PM by HI-TEC99 |
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$2451 on Stamp, atm. Nice recovery after we sunk all the way down into the $1800's only a matter of days ago. I wonder what the chances are of a pump to $3000 in the short term.
It's possible. Every time I think it can't keep going up at this speed it goes up higher. I didn't experience any of the previous mega rallies. Maybe that's why I keep thinking it's not sustainable for it to keep going up in value quickly. During the bear market every pump preceded a bigger crash. I haven't yet got used to every small crash preceding a bigger pump.
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kromtar
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June 01, 2017, 03:44:01 PM |
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People here dont care about xrp or any other altcoin, there is altcoin subforum to talk about it so go there...
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BlindMayorBitcorn
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June 01, 2017, 03:59:25 PM |
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$2451 on Stamp, atm. Nice recovery after we sunk all the way down into the $1800's only a matter of days ago. I wonder what the chances are of a pump to $3000 in the short term.
It's possible. Every time I think it can't keep going up at this speed it goes up higher. I didn't experience any of the previous mega rallies. Maybe that's why I keep thinking it's not sustainable for it to keep going up in value quickly. During the bear market every pump preceded a bigger crash. I haven't yet got used to every small crash preceding a bigger pump yet. Same. My monocle keeps falling into my gin!
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Richy_T
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June 01, 2017, 04:49:59 PM |
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We're here to discuss Bitcoin. Only this one sub-folder is about speculation and that's Bitcoin speculation.
You're not wrong but I don't think there was ever a time when people didn't talk their book on this thread.
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Richy_T
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June 01, 2017, 04:51:17 PM |
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It's possible. Every time I think it can't keep going up at this speed it goes up higher.
It might look fast but compared to some of the other rallies, it seems quite leisurely.
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BlindMayorBitcorn
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June 01, 2017, 05:01:38 PM Last edit: June 01, 2017, 05:12:37 PM by BlindMayorBitcorn |
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We're here to discuss Bitcoin. Only this one sub-folder is about speculation and that's Bitcoin speculation.
You're not wrong but I don't think there was ever a time when people didn't talk their book on this thread. We're all here because we speculate Bitcoin is going up. Nothing Bitcoin related ought to be off-topic. Anytime someone comes in trying to moderate, the thread becomes instantly less interesting. Edit: Ripple is shit. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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machasm
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June 01, 2017, 05:14:36 PM |
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Has the bogey man shown up on finex? Seems something has spooked them.
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STT
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June 01, 2017, 05:41:05 PM |
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Ripple sounds interesting but its another topic not this one. I have heard its a descriptor for other blockchains, that'd make more sense. Unless it helps bitcoin its not relevant to price tracking of bitcoin afaik $2451 on Stamp, atm. Nice recovery after we sunk all the way down into the $1800's only a matter of days ago. I wonder what the chances are of a pump to $3000 in the short term.
It's possible. Every time I think it can't keep going up at this speed it goes up higher. I didn't experience any of the previous mega rallies. Maybe that's why I keep thinking it's not sustainable for it to keep going up in value quickly. During the bear market every pump preceded a bigger crash. I haven't yet got used to every small crash preceding a bigger pump. We will not visit 3000 without alot of work and resistance over come first. Its a fair theory that our rapid ascent after 2000 was partly because it was untracked and unknown space, also leading to a quick sell off in a similar way. Now we do have previous price history at this level and each part must meet old holders who now wish to sell and are apprehensive of higher prices due to its previous quick fall. That kind of memory to the market means we should progress more slowly but I think so long as we do continue to negotiate prices its overall a positive and bitcoin is still maintaining a slower rate of uptrend. Ive drawn in resistance 17155 CNY. Its a good point of reference I think as it was the highest price falling the initial fall, a first price check for a bounce back by the fastest speculators. Now some days later (much time in crypto :p) its a resting point and ceiling for the moment to consider. 2169 is 50% of the initial fall in EUROS showing as the high now with lows right now meeting previous days highs (higher highs), I think resolving above 2113 would be medium term a small positive to rest at. Also drew a rough channel with 2000 being a channel bottom (higher lows) in sentiment
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BitcoinNewsMagazine
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June 01, 2017, 05:58:24 PM |
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Before the ATH is tested there is fair resistance at $2560 - $2600 to break through first. Once the ATH is taken out the Fibonacci extensions give some price targets: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fbitcoinnewsmagazine.com%2Fwp-content%2Fuploads%2F2015%2F09%2Fextensions.png&t=665&c=mFTLoeA22m3ImA) If we add an earlier longer time frame chart of the Fibonacci extensions you can see how the 2.618 extension predicted the current ATH fairly accurately. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fbitcoinnewsmagazine.com%2Fwp-content%2Fuploads%2F2015%2F09%2Fextensions2.png&t=665&c=gm7S8NZUfGO1Uw) Taking both charts into consideration it would seem that if the current ATH is taken out a reasonable price target is between $4200 and $4400.
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