birch-chorley Posted December 30, 2017 Author Share Posted December 30, 2017 Of course, but if you put £20k in at $0.20 a coin and you honestly believe that it will go as high as $10 per coin (£1m) then you’re going to find it difficult cashing some out on the way up Why cash out £20k if you believe it will be worth £100k soon enough Quote Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted December 30, 2017 Site Supporter Share Posted December 30, 2017 Of course, but if you put £20k in at $0.20 a coin and you honestly believe that it will go as high as $10 per coin (£1m) then you’re going to find it difficult cashing some out on the way up Why cash out £20k if you believe it will And that is why some people get very rich and some very poor. Problem is, nobody knows who is who at the outset. Quote Link to comment Share on other sites More sharing options...
kent_white Posted December 30, 2017 Share Posted December 30, 2017 I've heard tulips are going to be the next big thing! Quote Link to comment Share on other sites More sharing options...
Site Supporter Winchester White Posted December 30, 2017 Site Supporter Share Posted December 30, 2017 Fair point and why I stay away from all this, I don't have the money to lose. Quote Link to comment Share on other sites More sharing options...
Escobarp Posted December 30, 2017 Share Posted December 30, 2017 This is what makes me laugh Folk are actually hyping some of this stuff up as some form of useful way of making quick and easy international transactions. In reality it’s just making a relatively cheap and inexpensive process more complex and expensive Assume you work in banking? Swift takes an age to communicate between banks and thus the payments take an eternity. Ripple is 15/30 seconds I believe. If you think seconds compare to days is dog shit I’m struggling to understand the thought process Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted December 30, 2017 Moderators Share Posted December 30, 2017 (edited) He doesn't If I'm understandingyour explanation, this takes the place of long winded banktransfers which I can already do in one day Now, I can See there's a market for doing it much quicker but as on old cynic, I like to go to the bank if they fcuk up Who do i go see come the brave new world? Edited December 30, 2017 by Casino Quote Link to comment Share on other sites More sharing options...
Escobarp Posted December 30, 2017 Share Posted December 30, 2017 The banks have been looking for a way to replace the existing swift system for years. Nothing has stood the test of time. This,if it’s as good as folk are saying,it could replace the existing system with something much more efficiently Thus you’re transaction would still be with the bank Quote Link to comment Share on other sites More sharing options...
Moderators Casino Posted December 30, 2017 Moderators Share Posted December 30, 2017 I see So in this case,it's a product? Yet to be tried and tested, but a product? Quote Link to comment Share on other sites More sharing options...
Escobarp Posted December 30, 2017 Share Posted December 30, 2017 Ripplenet is a system. Ripple xrp is the crypto currency used in this system Numerous large banks have signed up as per smileys cryptic predictions. Thus the hike in price. In little lever they still deal in single fags so well out of my remit. Even though I left 18 years ago of course Quote Link to comment Share on other sites More sharing options...
birch-chorley Posted December 30, 2017 Author Share Posted December 30, 2017 No banking background whatsoever However, the way I see it, if you use a simple app like Revolut you can change money from £ to Euro to $ in seconds and you can then transfer to anyone else on Revolut anywhere else in the world in seconds. That’s just an example, if it’s easily done through something g like Revolut then I’m struggling to see why you need to bring in another level of complexity in the shape of Ripple Perhaps I’ve got it well wrong but it can’t be quicker or cheaper for a bank to swap a useful currency like £ into Ripple to then send it to someone else in Ripple for them then to convert it back into a useful currency like $. It’s value is also that volatile that it could be worth a huge % more or less in the time it takes you to convert into Ripple then exchange Quote Link to comment Share on other sites More sharing options...
Escobarp Posted December 30, 2017 Share Posted December 30, 2017 No banking background whatsoever However, the way I see it, if you use a simple app like Revolut you can change money from £ to Euro to $ in seconds and you can then transfer to anyone else on Revolut anywhere else in the world in seconds. That’s just an example, if it’s easily done through something g like Revolut then I’m struggling to see why you need to bring in another level of complexity in the shape of Ripple Perhaps I’ve got it well wrong but it can’t be quicker or cheaper for a bank to swap a useful currency like £ into Ripple to then send it to someone else in Ripple for them then to convert it back into a useful currency like $. It’s value is also that volatile that it could be worth a huge % more or less in the time it takes you to convert into Ripple then exchange The conversion is instant so no volatility I believe. A back couldn’t expect a customer to transfer money say £100 and get less than they transferred (obviously minus costs) at the other end. Swift is ancient. Revolut is a small consumer led system not fit for use by the major banks it appears. Time will tell but I see ripple being around for a long time from what I’ve read Quote Link to comment Share on other sites More sharing options...
birch-chorley Posted December 30, 2017 Author Share Posted December 30, 2017 Fair enough, you seem to know your onions, pile in on Ripple then It just doesn’t seem right to me that in order to switch from one currency to another more efficiently you need to bring a third one into the equation to make that happen. Surely it just needs an upgraded IT system Quote Link to comment Share on other sites More sharing options...
Escobarp Posted December 30, 2017 Share Posted December 30, 2017 0.39 I got in at. Got my investment back at 0.82 and profit left running. Will get out at some point soon though as far too volatile and would kick myself if if crashed. Quote Link to comment Share on other sites More sharing options...
Site Supporter Winchester White Posted December 30, 2017 Site Supporter Share Posted December 30, 2017 Surely there are anti-laundering rules and stuff that big banks have to follow? Quote Link to comment Share on other sites More sharing options...
Escobarp Posted December 30, 2017 Share Posted December 30, 2017 (edited) Surely there are anti-laundering rules and stuff that big banks have to follow?Yeah don’t quite understand the question though? This is just another system the banks can use to save them and consumers money and speed up the process All aml laws still apply Edited December 30, 2017 by Escobarp Quote Link to comment Share on other sites More sharing options...
Youri McAnespie Posted December 31, 2017 Share Posted December 31, 2017 (edited) I've had a nice few weeks skimming a few quid here and there and pretending to be Gordon Gekko... It's democratised trading in a way, the Crypto currency markets, and revealed it (trading) to be exactly what it is - far from a difficult and stressful alchemy and actually just 'money for old rope' that any c*nt with half a brain and numeracy could do... Buy high, sell low, chuck your butties and crisps int'bin... Edited January 2, 2018 by Youri McAnespie Quote Link to comment Share on other sites More sharing options...
Smiley Posted January 1, 2018 Share Posted January 1, 2018 https://www.finder.com.au/ripple-on-coinbase Quote Link to comment Share on other sites More sharing options...
Adlington White Posted January 3, 2018 Share Posted January 3, 2018 Bought Raiblocks (XRB) at £0.70 per coin before Xmas, and it’s now at £24 per coin. Bought £50 worth and letting it ride, who knows how far it could go.... and if the bubble bursts it’s only £50 lost. Instant transactions and no transaction fees Gives it an advantage over bitcoin Quote Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted January 3, 2018 Site Supporter Share Posted January 3, 2018 So you're happy to sit on £1700+ and see what happens? Is it not the done thing to take out your original investment and maybe a bit of profit so there's no losses at all when it all goes belly up? Quote Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted January 3, 2018 Site Supporter Share Posted January 3, 2018 Must admit, I'd be tempted to cash in a bit of profit, but certainly leave some in. Quote Link to comment Share on other sites More sharing options...
tomski Posted January 3, 2018 Share Posted January 3, 2018 Everyone has a different need/value of when to cash out. Quote Link to comment Share on other sites More sharing options...
Smiley Posted January 3, 2018 Share Posted January 3, 2018 (edited) So you're happy to sit on £1700+ and see what happens? Is it not the done thing to take out your original investment and maybe a bit of profit so there's no losses at all when it all goes belly up? Ok I cashed out some XRP at 28% profit. A tidy return compared to what you'd get from any bank. Agree. This morning that same investment would have sat at 356% profit. Digest that for one minute. Take profit as you go along or HOLD? How I've not cried about that one particular transaction I do not know. I've eventually jumped back in and its standing around 60% profit. Thankfully I do have other positions, but that was my largest and has hurt the most. Talking fictitious figures..... £1,000 would have returned £1,280 at 28%. £1,000 would have returned £4,560 this morning. Edited January 3, 2018 by Smiley Quote Link to comment Share on other sites More sharing options...
DazBob Posted January 3, 2018 Share Posted January 3, 2018 Everyone has a different need/value of when to cash out. Never cash out. Quote Link to comment Share on other sites More sharing options...
tomski Posted January 3, 2018 Share Posted January 3, 2018 Never cash out.Never quit Quote Link to comment Share on other sites More sharing options...
Jol_BWFC Posted January 3, 2018 Share Posted January 3, 2018 Never cash out. Are you Garrp in disguise? Quote Link to comment Share on other sites More sharing options...
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