Crypto Currency Thread (Vol.2)
Discussion
Good article in the DT just now, https://www.telegraph.co.uk/business/2022/05/31/cr... I'm a fan and holder of XRP so good to see some decent publicity for a change.
Iamnotkloot said:
Good article in the DT just now, https://www.telegraph.co.uk/business/2022/05/31/cr... I'm a fan and holder of XRP so good to see some decent publicity for a change.
XRP isnt used in ripple payment system, so what is the reason for holding it?Also the same bloke said last week, ''The broad point about cryptos has been made by the Bank of England’s Andrew Bailey: “Buy them only if you’re prepared to lose all your money.”
Ouroboros said:
Iamnotkloot said:
Good article in the DT just now, https://www.telegraph.co.uk/business/2022/05/31/cr... I'm a fan and holder of XRP so good to see some decent publicity for a change.
XRP isnt used in ripple payment system, so what is the reason for holding it?Also the same bloke said last week, ''The broad point about cryptos has been made by the Bank of England’s Andrew Bailey: “Buy them only if you’re prepared to lose all your money.”
Ari said:
You don't though do you? You just shill it using copy and pastes of Internet soundbites that impress you, and try and insult and shut down anyone who dares point out unfortunate truths that don't coincide with your belief that you're going to get rich with no effort from crypto.
And if you think I've the time or patience to run a seperate account over 10 years and 7,000+ posts you're equally deluded about that.
Again talking nonsense i see. To shill you need to talk positively about a specific crypto! I haven’t mentioned by name any crypto i am holding. Good try though And if you think I've the time or patience to run a seperate account over 10 years and 7,000+ posts you're equally deluded about that.
Iamnotkloot said:
There's loads of good "debunking myths about XRP" sites out there to look at, but here's one of them anyway https://panos.writeas.com/why-xrp-is-the-most-misu...
That doesnt answer my question . Ripple labs and XRP are separate. The price of XRP is determined not by the success of ripple with there tech, but just general market forces. A big ripple labs contact won't mean more XRP are used for example.I don't get the XRP holding, if ripple labs wants to go mainstream they can issue proper shares, which is what XRP are, except no real tie besides XRP labs selling them to raise USD, which so far is around 700 million USD made just from selling XRP coin.
Ouroboros said:
Iamnotkloot said:
Good article in the DT just now, https://www.telegraph.co.uk/business/2022/05/31/cr... I'm a fan and holder of XRP so good to see some decent publicity for a change.
XRP isnt used in ripple payment system, so what is the reason for holding it?Also the same bloke said last week, ''The broad point about cryptos has been made by the Bank of England’s Andrew Bailey: “Buy them only if you’re prepared to lose all your money.”
When it comes to conventional investments don't they also warn "don't risk more than you can afford to lose"?
g4ry13 said:
Ouroboros said:
Iamnotkloot said:
Good article in the DT just now, https://www.telegraph.co.uk/business/2022/05/31/cr... I'm a fan and holder of XRP so good to see some decent publicity for a change.
XRP isnt used in ripple payment system, so what is the reason for holding it?Also the same bloke said last week, ''The broad point about cryptos has been made by the Bank of England’s Andrew Bailey: “Buy them only if you’re prepared to lose all your money.”
When it comes to conventional investments don't they also warn "don't risk more than you can afford to lose"?
Iamnotkloot said:
I don't understand the point being made here? "Buy them only if you’re prepared to lose all your money." - isn't that true of any investment? Or am I missing out on some great investments where they guarantee 100% you will never lose your money?
No it's not,and I'll give you one simple example. If you buy a typical family house in a nice area to rent out, and you insure it properly, you can be reasonably confident it's not going to be worth zero, or even anywhere close to zero in 12 months time, because it has an actual and useful use, namely, people can live in it. It might go down in value a bit, it will probably, in the long term, go up a bit, and in the meantime it should provide you with a decent return on your investment in the form of rent. It's a solid investment, a real thing and it has a method of generating income, which any investment should have in order to be a worthwhile investment. Clearly none of that is the case with crypto.
Ari said:
No it's not,and I'll give you one simple example. If you buy a typical family house in a nice area to rent out, and you insure it properly, you can be reasonably confident it's not going to be worth zero, or even anywhere close to zero in 12 months time, because it has an actual and useful use, namely, people can live in it. It might go down in value a bit, it will probably, in the long term, go up a bit, and in the meantime it should provide you with a decent return on your investment in the form of rent. It's a solid investment, a real thing and it has a method of generating income, which any investment should have in order to be a worthwhile investment.
Clearly none of that is the case with crypto.
Though like all investments there are risks involved… which is the point he is making.Clearly none of that is the case with crypto.
Even with property.. tennant looses job can’t pay rent.. boiler breaks… mortgage rate goes up!
We get it you don’t like crypto! But i think your just enjoying baiting people
Ari said:
Not at all, I was simply and accurately addressing the query he raised, which was:
Some investments are riskier than others. Investing in property is one of the safest you can do.Iamnotkloot said:
"Buy them only if you’re prepared to lose all your money." - isn't that true of any investment?
Short answer, no. Long answer, see above. But it’s still not 100% safe.
Have you heard of defaulting on your mortgage?
Anyway, XRP could go to zero, or it could return something like 8000%, which is incidentally what it’s done for me so far.
Either way, I’m aware I’ve invested in the riskier end of things. So the fact I *might* lose all of it is hardly news.
Iamnotkloot said:
Some investments are riskier than others. Investing in property is one of the safest you can do.
But it’s still not 100% safe.
Have you heard of defaulting on your mortgage?
Anyway, XRP could go to zero, or it could return something like 8000%, which is incidentally what it’s done for me so far.
Either way, I’m aware I’ve invested in the riskier end of things. So the fact I *might* lose all of it is hardly news.
Yes, absolutely correct. But you understand the basic message, yes? Most things have an underlying value, a house, a company, whatever. There is none with crypto, the only value is based on the hope it will be worth more tomorrow. At the point where that stops happening (as it has for every other similar scheme in the past from tulip bulbs onwards), that perceived value is gone. But it’s still not 100% safe.
Have you heard of defaulting on your mortgage?
Anyway, XRP could go to zero, or it could return something like 8000%, which is incidentally what it’s done for me so far.
Either way, I’m aware I’ve invested in the riskier end of things. So the fact I *might* lose all of it is hardly news.
You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).
So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.
And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...
Ari said:
Yes, absolutely correct. But you understand the basic message, yes? Most things have an underlying value, a house, a company, whatever. There is none with crypto, the only value is based on the hope it will be worth more tomorrow. At the point where that stops happening (as it has for every other similar scheme in the past from tulip bulbs onwards), that perceived value is gone.
You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).
So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.
And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...
Why are they losers? You don’t actually understand crypto and what you can do with it to form such conclusive opinions!You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).
So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.
And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...
If you actually had some basic understanding of crypto it might be worth while debating the subject but you clearly don’t.
Yes you think it is all a pyramid scheme, we get it, yes intrinsic value, yes well done!
Why don’t you do some basic research and come back with actual points rather than some basic boomer view point.
Gassing Station | Finance | Top of Page | What's New | My Stuff