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  #1031  
Old 30th December 2020, 12:29 PM
ainarssems ainarssems is offline
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I don't really see the point of Ripple, it's not decentralised and with existing stablecoins and inevitably coming CBDCs( central bank digital currencies) what is it that Ripple does better? 4 years ago I could see it as decent entry point, right now only appeal is that the price dropped a lot very quickly so you can get it at relatively cheap price, it's likely that price will rebound in short/mid term but in the long run I do not really see the point of it. I suppose it might be worth a gamble if you belive it will go up and sell for profit but don't think it's for for long term investment.

And yes I do hold some, a small amount I bought long time ago at about $0.25 but that was different time back then.
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  #1032  
Old 3rd January 2021, 12:06 PM
ainarssems ainarssems is offline
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Bitcoin is on BBC news again https://www.bbc.co.uk/news/business-55515529 a lot of people will get in on it again because of FOMO and price will rocket again. It's quite different from 2017 bull run as that was mostly powered by retail demand, this time it's more institutional but it's also a lot more accessible to firsttimer individuals especially with the PayPal allowing to buy BTC in US. The question is when the price starts going down what will the institutional investors do? Will they hang in long term or will they try to take profits and get out. Depending on it next crash migh be a lot smaller or bigger than the last one. It's about riding the wave and getting out on top then buy again when price falls. Easier said than done
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  #1033  
Old 3rd January 2021, 04:42 PM
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moltuae moltuae is offline
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Quote:
Originally Posted by ainarssems View Post
Bitcoin is on BBC news again
I love the irony of comments like this that we frequently get from central banks ...

Quote:
Bank of England Governor Andrew Bailey cautioned over its use as a payment method in October.

"I have to be honest, it is hard to see that Bitcoin has what we tend to call intrinsic value," he said. "It may have extrinsic value in the sense that people want it."
I mean, the banks have been printing money like never before, especially recently, in an attempt to prop up the ever-rising COVID debts. Where's the 'intrinsic' value there? -- It's not like we have a 'Gold Standard' anymore so it's linked to nothing more than trust in government .... and I'm sure we all trust the government about as far as we could throw them. At least there's a substantial cost associated with creating Bitcoins. They might be virtual but the energy required to create them is very real.
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Last edited by moltuae; 3rd January 2021 at 04:45 PM.
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  #1034  
Old 3rd January 2021, 05:23 PM
Regulus Regulus is offline
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Seems pretty obvious why the price is going up.
Not enough Bitcoins available for purchase.
https://news.bitcoin.com/data-shows-...t-circulation/

Ainars, as I am using Revolut I don't see the point to focus on decentralised coins only. It's not like I own the coins.
On the other hand, I've spent the last two days trying to learn something about how crypto coins work And it is so complicated! I kind of figured out about crypto wallets, and how one can buy coins with fiat. But cashing back out into fiat... that seems quite complicated.

The crypto coins are like a separate universe! Great if you are in it. But not so easy to jump back and forth
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  #1035  
Old 5th January 2021, 08:24 PM
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moltuae moltuae is offline
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Quote:
Originally Posted by ainarssems View Post
I don't really see the point of Ripple, it's not decentralised and with existing stablecoins and inevitably coming CBDCs( central bank digital currencies) what is it that Ripple does better?
Nothing. But I think it's probably a good short-term investment choice for someone wanting to dip their toes into crypto-investments. And I think the very qualities that make it fall short of the 'true cryptocurrency' definition are, somewhat ironically, viewed as desirable qualities by many, especially those who are new to cryptocurrency concepts and are uncomfortable with idea of investing in a faceless, mathematically-governed currency. So I think Ripple is probably a good stepping stone, and it's likely it will succeed on the back of Bitcoin in the short term, but I would be looking to exchange it for BTC before it peaks.

As for Bitcoin, I was hoping for a good pull-back (maybe even $17K) to accumulate more, but it's looking unlikely that's going to happen now. In fact if the NUPL indicator is anything to go by, this bull-run may have only just got started ...

Bitcoin price set to rise by more than 700%, suggests crucial on-chain metric

https://www.fxstreet.com/cryptocurre...c-202101051819
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  #1036  
Old 5th January 2021, 09:50 PM
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Before Ripple peaks, wave it goodbye. Sorry I'll go now
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  #1037  
Old 8th January 2021, 04:22 PM
ulfilias ulfilias is offline
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So......Some while back i just turned off my miners, sulked a bit and ignored the whole thing!

I didn't sell anything as it wasn't worth it and you never know where things will go and well it looks like things are getting better.....though mainly bitcoin, rather than some of the other smaller stuff i had!

I'm guessing the Antminer s7, s7(two cards) and the S9 are probably still not worth bothering with. Never got round to selling as i just hate selling things, postage is a pain and personal pick up also tricky this last year.

The 4 x GTX970 linux/Windows box may be worth turning back on though, particularly as my living room is cold!!!

Last September as I couldn't justify buying an D3 S8 v10 as I went a bit ethical and looked at Tesla, which I couldn't afford, so put £5k of my bonus in the shares at $233 a share, what with the 5 way split and they're worth ~$850 (x5) today

HODL things really does work
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