XRP

3ml

Moderator
Trusted Member
It’s on a run up
It’s a garbage coin absolutely fucking garbage

that being said you can make money on it.

But if you understand crypto you will understand why it is trash
 

CoolRick

Member
It’s on a run up
It’s a garbage coin absolutely fucking garbage

that being said you can make money on it.

But if you understand crypto you will understand why it is trash
I disagree, if you understand crypto you'll understand why its not trash.
 

3ml

Moderator
Trusted Member
I disagree, if you understand crypto you'll understand why its not trash.
And don’t get me wrong...There is a chance of making money on it. I loaded up between 17-19 cents
I’ll dump it on some plebs and they will buy me a pool for my backyard

#Plebsbuymethings
 
Last edited:

CoolRick

Member
And don’t get me wrong...There is a chance of making money on it. I loaded up between 17-19 cents
I’ll dump it on some plebs and they will buy me a pool for my backyard

#Plebsbuymethings
Let me preface by stating im not a maximalist of any sort, I'm a long term investor, and I look for projects that have real world utility as I think thats the metric by which the market will eventually have to value these things by. I just have to say in my opinion there's, huge opportunity for Ripple and XRP in the world of blockchain. Customers all around world, working with regulators and governments, central banks the list goes on and on. No company has even gotten close to them in this regard. hell, it even fits the UN's green agenda 😉 lol. To say its complete trash, I think is just totally false. Im interested to know why you think that.

Thats awesome you retired early, which projects/ coins were you an early investor in?
 

3ml

Moderator
Trusted Member
Let me preface by stating im not a maximalist of any sort, I'm a long term investor, and I look for projects that have real world utility as I think thats the metric by which the market will eventually have to value these things by. I just have to say in my opinion there's, huge opportunity for Ripple and XRP in the world of blockchain. Customers all around world, working with regulators and governments, central banks the list goes on and on. No company has even gotten close to them in this regard. hell, it even fits the UN's green agenda 😉 lol. To say its complete trash, I think is just totally false. Im interested to know why you think that.

Thats awesome you retired early, which projects/ coins were you an early investor in?
Well when you mention things like Banks, UN, Regulators right away that’s a big big no no for me.

I got into crypto because I believe in decentralization. It may never happen but I truly hope it does. XRP is centralized and that is a hard no for me. Also from my understanding Ripples transactions are settled by ripple not by using the xrp coin. Perhaps things have change, but if that’s the case what is the purpose of the coin?

As far as coins to be an early investor in...well some I could have made a fortune on. Walton chain for example, I partnered in on a Guardian masternode when it first came out 60k ish at the time. Could have sold it at a massive profit approx 180k but stupidly hung onto it thinking it was a great project. Done well on the big ones LTC, Ether, BCH but be clear I’m no fan of these coins.

I have seen people squander their life savings on ICOs
For me most alt coins are solving problems that don’t exist. Many are a scam. I don’t have the time nor energy these days to read endless white papers. I am a bitcoin maximalist, but I will trade shit coins to make money. That has been the most profitable for me and what I am personally best at. Everyone is different. If you want to research endlessly and gamble on new projects there are fortunes to be made or lost.

The two coins I believe in the most are Bitcoin and Monero. That’s it that’s all.

A lot of energy behind chain link these days. Admittedly I know nothing about it nor do I care too. I feel like it’s another EOS....ughhh another coin I bought cheap and could have sold for a fortune but stupidly I didn’t. Oh well it looks like plebs will pour into the market and I can take their money.
 

CoolRick

Member
Well when you mention things like Banks, UN, Regulators right away that’s a big big no no for me.

I got into crypto because I believe in decentralization. It may never happen but I truly hope it does. XRP is centralized and that is a hard no for me. Also from my understanding Ripples transactions are settled by ripple not by using the xrp coin. Perhaps things have change, but if that’s the case what is the purpose of the coin?

As far as coins to be an early investor in...well some I could have made a fortune on. Walton chain for example, I partnered in on a Guardian masternode when it first came out 60k ish at the time. Could have sold it at a massive profit approx 180k but stupidly hung onto it thinking it was a great project. Done well on the big ones LTC, Ether, BCH but be clear I’m no fan of these coins.

I have seen people squander their life savings on ICOs
For me most alt coins are solving problems that don’t exist. Many are a scam. I don’t have the time nor energy these days to read endless white papers. I am a bitcoin maximalist, but I will trade shit coins to make money. That has been the most profitable for me and what I am personally best at. Everyone is different. If you want to research endlessly and gamble on new projects there are fortunes to be made or lost.

The two coins I believe in the most are Bitcoin and Monero. That’s it that’s all.

A lot of energy behind chain link these days. Admittedly I know nothing about it nor do I care too. I feel like it’s another EOS....ughhh another coin I bought cheap and could have sold for a fortune but stupidly I didn’t. Oh well it looks like plebs will pour into the market and I can take their money.
I like the fact they are legitimizing the technology, so many great things can be accomplished by using this technology but as long as its in the shadows it'll scare off legitimate investors and the public. The days of sneaking around using crypto for nefarious activity are over, the only thing really left for privacy is Monero.

Bitcoin isn't exactly decentralized when more than 51% of its hash rate is controlled by China. XRP isn't centralized at all. Ripple owns about 7% of all the validator nodes on the network. Compare that now to Bitcoin being primarily controlled by a totalitarian dictatorship and its not even a question which should be more trusted.

The misunderstanding is from people hearing about the large pool of XRP that Ripple holds and they think because they have so much they can control the network, its simply not true. All the XRP are created from the beginning and Ripple uses timed escrow accounts to distribute the XRP over time, in a sense to "simulate" the XRP being mined. As oppose to bitcoin where in order to "distribute" the bitcoin it has to be unlocked via mining. IMO anything using proof of work is dinosaur technology, even ETH is moving to proof of stake. We have better methods now that are more secure, cheaper and greener. Bitcoin always seemed to me like it was a project that is in search of a problem. Has terrible PR, the lightning network never took off,went from being P2P cash to "digital gold", doesn't scale, its slow and its used by terrorists and criminals. Hell, the fastest way to move bitcoin around is actually on the XRP ledger. Really just seems like a distraction from whats really going on in the real world.

I totally see your point, I respect that, in the end we're all in it to make money, and the investment strategy is up to the individual.I was going to buy bitcoin way back when it was like $50 and a friend of mine talked me out it. In retrospect I think it worked out better for me. A lot of early BTC investors developed that maximalist thinking which I quite honestly find very closed minded. Getting wrapped up in the idea of BTC making profits may have blinded me from seeing the future of the technology.

One thing is for sure, theres going to be multiple winnning projects in this industry, and a WHOLE lot of losers.
 
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pgmunn

Well-known member
Trusted Member
it's not overwhelming ... it is like any investment medium... you buy low ( if you can predict this), you hold hoping it goes up, then you sell high ( hoping you can predict this too). Bitcoin/cryto is very liquid and you can transfer it easily making it an easy way to hide transactions as government has not regulated it's use yet ... the time will come.
 

Sorbate

Beta Male
Trusted Member
it's not overwhelming ... it is like any investment medium... you buy low ( if you can predict this), you hold hoping it goes up, then you sell high ( hoping you can predict this too). Bitcoin/cryto is very liquid and you can transfer it easily making it an easy way to hide transactions as government has not regulated it's use yet ... the time will come.
More overwealming in the way that I never kept up with it and have no idea what any of the crypto terms mean.
 

pgmunn

Well-known member
Trusted Member
More overwealming in the way that I never kept up with it and have no idea what any of the crypto terms mean.
that is fair. When I was buying raws some of my suppliers bitcoin was the only thing they would take in exchange. I never really invested in it. I stayed to safe investments and it paid off... I retired at 55... could have went sooner but I am sure I would have been bored to death. I really didn't retire as I invested in real estate which has done well for me. I do my own maintenance and improvement on my rental units keeping costs low.
 

Sorbate

Beta Male
Trusted Member
that is fair. When I was buying raws some of my suppliers bitcoin was the only thing they would take in exchange. I never really invested in it. I stayed to safe investments and it paid off... I retired at 55... could have went sooner but I am sure I would have been bored to death. I really didn't retire as I invested in real estate which has done well for me. I do my own maintenance and improvement on my rental units keeping costs low.
That’s the way to do it. I’m waiting till this bubble bursts and get into reaestate as well.
My father retired at 45 (kinda forced, him and my grandfather owned a huge meat kill, production plant) and they started to really disagree so they sold it for millions and retired).
But he did go and work at a few other jobs, but was a lost soul.
So yeah if you are a high strung, or active person retiring early is not good.
I myself will likely work till the day I die, collect an income from my business, but not work as much. Then I’ll acfually become more of a manager than a worker like I am now.
I have money to invest, but have no idea where to invest it. The business bank manager keeps harassing me to do something with it, even a GIC. Something where I get more than .05%, lol.
I’m good a making it, but have no idea what to do after that, so for years I just kept investing it back into the business or spent it.
I think it’s because I just don’t trust investment people. Don’t know why, but the couple times in the past I used someone I lost money, even on low risk investing.
 

Novitec

Well-known member
Trusted Member
Long term it has potential to be good. The ripple system which xrp could potential be sent on is an amazing system and out performs the currect system (SWIFT) banks use to send money in ever way. However, the cash in big phase of this coin is long gone. 3 or 4 years ago within, Id say, 2 months max it shot from .19 to over 4 bucks. Thats not going to happen again.
 

3ml

Moderator
Trusted Member
That’s the way to do it. I’m waiting till this bubble bursts and get into reaestate as well.
My father retired at 45 (kinda forced, him and my grandfather owned a huge meat kill, production plant) and they started to really disagree so they sold it for millions and retired).
But he did go and work at a few other jobs, but was a lost soul.
So yeah if you are a high strung, or active person retiring early is not good.
I myself will likely work till the day I die, collect an income from my business, but not work as much. Then I’ll acfually become more of a manager than a worker like I am now.
I have money to invest, but have no idea where to invest it. The business bank manager keeps harassing me to do something with it, even a GIC. Something where I get more than .05%, lol.
I’m good a making it, but have no idea what to do after that, so for years I just kept investing it back into the business or spent it.
I think it’s because I just don’t trust investment people. Don’t know why, but the couple times in the past I used someone I lost money, even on low risk investing.
Stick with what you know
If re investing in your business is what works for you then that is the best investment
 

pgmunn

Well-known member
Trusted Member
That’s the way to do it. I’m waiting till this bubble bursts and get into reaestate as well.
My father retired at 45 (kinda forced, him and my grandfather owned a huge meat kill, production plant) and they started to really disagree so they sold it for millions and retired).
But he did go and work at a few other jobs, but was a lost soul.
So yeah if you are a high strung, or active person retiring early is not good.
I myself will likely work till the day I die, collect an income from my business, but not work as much. Then I’ll acfually become more of a manager than a worker like I am now.
I have money to invest, but have no idea where to invest it. The business bank manager keeps harassing me to do something with it, even a GIC. Something where I get more than .05%, lol.
I’m good a making it, but have no idea what to do after that, so for years I just kept investing it back into the business or spent it.
I think it’s because I just don’t trust investment people. Don’t know why, but the couple times in the past I used someone I lost money, even on low risk investing.
I agree with @3ml if you are doing good at your business and making ok money then that is what to do, reinvest in your business. I did well in self directed indexed funds. They allowed you to diversify your investments so your risk is lower and the fund charges are a lot lower than mutual funds. I then took that and invested in in the house I live in now as it was on an estate sale... Needed some work, I got it for a real bargain. When I sell at 65 I should do pretty well on it as I put a lot of improvements into it. And a principal residence sale is non taxable. Trudeau was talking about putting a tax on their sale. If he does I will go up to Ottawa and shoot him myself.
 
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