Anyone had a dabble?

 

I was told to get on bitcoin years ago but thought the lad who tipped me off was smoking crack. Turns out even a modest £1,000 investment then would have seen me become a multi millionaire now ffs

 

One lad I know has made about £700k on something called Ether from a few grand invested

 

Few of the lads are going balls deep into ripple bits as we speak

 

I'm weighing up a piece of the action

 

It looks like a volatile road but incredibly profitable if you land on the right peg

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.

I've heard tulips are going to be the next big thing!

Fair point and why I stay away from all this, I don't have the money to lose.

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

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, 20178 yr by Casino

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

I see

 

So in this case,it's a product?

 

Yet to be tried and tested, but a product?

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

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

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

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

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.

Surely there are anti-laundering rules and stuff that big banks have to follow?

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, 20178 yr by Escobarp

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, 20188 yr by Youri McAnespie

https://www.finder.com.au/ripple-on-coinbase

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

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?

Must admit, I'd be tempted to cash in a bit of profit, but certainly leave some in.

Everyone has a different need/value of when to cash out.

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, 20188 yr by Smiley

Everyone has a different need/value of when to cash out.

Never cash out.

Never cash out.

Never quit

Never cash out.

Are you Garrp in disguise?

not much of a disguise

 

look pretty similar and both got a kicking off pissed up dan