MAbtc
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July 25, 2013, 02:31:58 AM |
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Seems like everyone is on stand by until some kind of capitulation, but you know, things tend to go the other way when everyone is expecting the same thing.
I don't think everyone is expecting a drop. who else would capitulate is my question
Shitloads of people. Why not? You can only call capitulation in hindsight; I am quite unconvinced that anyone with the propensity to exit permanently has done so. We're nowhere near capitulation, certainly not when 3 weeks ago we were at 65. Lots of fence sitters. If/when there is blood and people see the value of their holdings chopped in half from here, then we'll see some volume. I think we'll bounce around a bit before we see that, though.
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Wary
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July 25, 2013, 02:45:48 AM |
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who else would capitulate is my question
Bears would, by returning from "all in fiat" to "50/50".
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ChartBuddy
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July 25, 2013, 03:01:30 AM |
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solex
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July 25, 2013, 03:04:53 AM |
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who else would capitulate is my question
Bears would, by returning from "all in fiat" to "50/50". It's not like the bears could use their fiat for food, clothes, cars, utility bills or anything like that. Mt Gox has ensured that bears can only use their fiat to buy one thing: bitcoins!
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Coinseeker
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July 25, 2013, 03:48:01 AM |
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This interesting thing to note about this news is that according to the graph, Bitstamp didn't really rise, so much as Gox has actually fallen to Bitstamp levels. I will however say I'm happy to see this, especially given the fact that Bitstamp is currently the only Ripple gateway with any real liquidity. Unless the rumors of Gox connecting to the Ripple network are true of course.
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ChartBuddy
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July 25, 2013, 04:01:25 AM |
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octaft
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July 25, 2013, 04:42:39 AM |
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This interesting thing to note about this news is that according to the graph, Bitstamp didn't really rise, so much as Gox has actually fallen to Bitstamp levels. I will however say I'm happy to see this, especially given the fact that Bitstamp is currently the only Ripple gateway with any real liquidity. Unless the rumors of Gox connecting to the Ripple network are true of course. How does one invest in Ripple, anyway? I'm nowhere near as sold on it as you are, but it's so cheap I'm willing to take a shot.
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ChartBuddy
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July 25, 2013, 05:01:28 AM |
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Coinseeker
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July 25, 2013, 05:22:03 AM |
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How does one invest in Ripple, anyway? I'm nowhere near as sold on it as you are, but it's so cheap I'm willing to take a shot.
Well, since we're really just watching Chartbuddy dance around, I'll indulge you. First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency. Second, there is a built in currency, known as XRP, that you can buy and speculate on the potential rise in value. It's main function however, is to prevent spam within the network. I will say in the clearest terms that I think investing in XRP's is extremely risky, so don't invest more than you're willing to lose. If you want to buy XRP, you simply need to create a wallet and you can either have someone send you some XRP to activate your account or you can purchase some from Bitstamp. Once your account is active, you can buy and sell XRP right inside the Ripple client. (Wallet) If you've seen people selling XRP in the currency exchange, this is what they are doing. Buying XRP from Bitcoiners and selling them on the open exchange, within the Ripple client, for great profits.
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octaft
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July 25, 2013, 05:42:32 AM |
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How does one invest in Ripple, anyway? I'm nowhere near as sold on it as you are, but it's so cheap I'm willing to take a shot.
Well, since we're really just watching Chartbuddy dance around, I'll indulge you. First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency. Second, there is a built in currency, known as XRP, that you can buy and speculate on the potential rise in value. It's main function however, is to prevent spam within the network. I will say in the clearest terms that I think investing in XRP's is extremely risky, so don't invest more than you're willing to lose. If you want to buy XRP, you simply need to create a wallet and you can either have someone send you some XRP to activate your account or you can purchase some from Bitstamp. Once your account is active, you can buy and sell XRP right inside the Ripple client. (Wallet) If you've seen people selling XRP in the currency exchange, this is what they are doing. Buying XRP from Bitcoiners and selling them on the open exchange, within the Ripple client, for great profits. Don't worry, I don't plan to invest very much. I'm just looking to have some hanging around. Thanks for the info, I appreciate your time.
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Coinseeker
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July 25, 2013, 05:46:18 AM |
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Don't worry, I don't plan to invest very much. I'm just looking to have some hanging around.
Thanks for the info, I appreciate your time.
You're welcome.
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adamstgBit
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July 25, 2013, 05:48:35 AM |
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ChartBuddy
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July 25, 2013, 06:01:20 AM |
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Ares
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July 25, 2013, 06:14:55 AM |
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Nice 1.7k buy just now
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Voodah
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July 25, 2013, 06:20:05 AM |
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First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency.
Is Ripple actually gaining any traction as a payment network? I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it.. Are there any stats about this out there?
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Ares
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July 25, 2013, 06:35:13 AM |
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First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency.
Is Ripple actually gaining any traction as a payment network? I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it.. Are there any stats about this out there? It's not, and it shouldn't. It is closed-source, centralized, has a currency called XRP that is 100% premined and in the hands of the creators, and the whole thing is owned by a for-profit company.
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MAbtc
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July 25, 2013, 06:43:25 AM Last edit: July 25, 2013, 06:56:22 AM by MAbtc |
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First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency.
Is Ripple actually gaining any traction as a payment network? I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it.. Are there any stats about this out there? No, there is no liquidity besides Bitstamp, basically. No vendors accept XRP for payment. It's basically speculation for XRP only, and it's highly illiquid. XRP is highly prone to manipulation, much more so than BTC. A single entity can easily dump the value of XRP to oblivion. Indeed, a single entity dropped something like 6 million XRP onto the book (selling them 9-10 XRP below spot, mind you), and that alone has caused the value to plummet from mid-70s, now to the 180s. It's too bad Ripple is tied to Open Coin. As a payment system, it's pretty brilliant and has a lot of potential to be extremely versatile for payments/micropayments. But the supply of XRP is completely fucked, fuck holding it. At the same time, since Ripple has virtually no liquidity, there is really nothing to be done but trade in and out of XRP.
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Kazu
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July 25, 2013, 06:49:54 AM |
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First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency.
Is Ripple actually gaining any traction as a payment network? I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it.. Are there any stats about this out there? No, there is no liquidity besides Bitstamp, basically. No vendors accept XRP for payment. It's basically speculation for XRP only, and it's highly illiquid. XRP is highly prone to manipulation, much more so than BTC. A single entity can easily dump the value of XRP to oblivion. Indeed, a single entity dropped something like 6 million XRP onto the ask book (9-10 XRP above spot, mind you), and that alone has caused the value to plummet from mid-70s, now to the 180s. It's too bad Ripple is tied to Open Coin. As a payment system, it's pretty brilliant and has a lot of potential to be extremely versatile for payments/micropayments. But the supply of XRP is completely fucked, fuck holding it. At the same time, since Ripple has virtually no liquidity, there is really nothing to be done but trade in and out of XRP. Can somebody actually explain what XRP is other than another centralized e-currency like Liberty Reserve?
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notme
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July 25, 2013, 06:51:14 AM |
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First it's important to note that Ripple is not a currency, it's a global payment network that costs virtually nothing to use. Within this payment network you can use any currency you choose. USD, EUR, YEN, BTC, LTC, PPC or any other currency there is liquidity for. I say this because it's important to know what you're investing in. It's not Bitcoin. It's a true protocol like http, not a single crypto currency.
Is Ripple actually gaining any traction as a payment network? I've yet to see a single business accepting XRP or payment through Ripple network, or hear about any major/regular transaction going through it.. Are there any stats about this out there? No, there is no liquidity besides Bitstamp, basically. No vendors accept XRP for payment. It's basically speculation for XRP only, and it's highly illiquid. XRP is highly prone to manipulation, much more so than BTC. A single entity can easily dump the value of XRP to oblivion. Indeed, a single entity dropped something like 6 million XRP onto the ask book (9-10 XRP above spot, mind you), and that alone has caused the value to plummet from mid-70s, now to the 180s. It's too bad Ripple is tied to Open Coin. As a payment system, it's pretty brilliant and has a lot of potential to be extremely versatile for payments/micropayments. But the supply of XRP is completely fucked, fuck holding it. At the same time, since Ripple has virtually no liquidity, there is really nothing to be done but trade in and out of XRP. Can somebody actually explain what XRP is other than another centralized e-currency like Liberty Reserve? Ripple is a p2p lending network where payments and defaults "ripple" through a chain of trust. It will be repeatedly abused by scammers until it is abandoned except as possibly an inter-exchange lending network. XRP is how you pay transaction fees on the Ripple network.
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