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Author Topic: Pass Me The Ripple  (Read 14646 times)

Jay Bee

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Pass Me The Ripple
« on: January 03, 2018, 12:26:38 PM »
Planning on finally getting in on Ripple. Going to buy Ether on Coinbase, then transferring to a placebo can trade for Ripple.. leaning toward Bitsane.

Any other suggestions as to the HOW to acquire Ripple? Any HUGE warnings again doing this?
Thanks for ruining summer, Canada.

Goose

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Re: Pass Me The Ripple
« Reply #1 on: January 03, 2018, 12:38:42 PM »
JayBee

I have been buying Litecoin on Coinbase and then sending and converting on Kraken. Aside from taking a few hours to get up and running, it has been pretty much smooth sailing. Does not hurt that I first bought in at a very cheap price. Ripple has been getting some great main street press and having another great day.

LloydsLegs

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Re: Pass Me The Ripple
« Reply #2 on: January 03, 2018, 03:04:04 PM »
Most of the time I don't feel that old.  And I know you fellas aren't that young.  But the words you use make me feel old.  Very old.

HouWarrior

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Re: Pass Me The Ripple
« Reply #3 on: January 03, 2018, 03:09:36 PM »
Most of the time I don't feel that old.  And I know you fellas aren't that young.  But the words you use make me feel old.  Very old.
lol

I thought the same (had to google to learn the newer meaning of Ripple),

My first thought on "pass me the ripple" turned to Boone's Farm or 20/20, its cheap wine competitors...and source of my first buzzes in life.
I disapprove of what you say, but I will defend to the death your right to say it.

Goose

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Re: Pass Me The Ripple
« Reply #4 on: January 03, 2018, 04:50:41 PM »
I'm older than most on here. Come on, guys...get on the Ripple train.

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #5 on: January 03, 2018, 08:10:37 PM »
Take a look at Stellar ... it's a fork from Ripple.  It going up even faster as many believe it is a better technology.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #6 on: January 03, 2018, 08:11:08 PM »
Planning on finally getting in on Ripple. Going to buy Ether on Coinbase, then transferring to a placebo can trade for Ripple.. leaning toward Bitsane.

Any other suggestions as to the HOW to acquire Ripple? Any HUGE warnings again doing this?

Suggest Binance.  Also, have heard people losing transactions on kraken.  Careful on ripple.  Some of the alt coins max out.  Make sure you're not buying at the high.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #7 on: January 03, 2018, 08:11:32 PM »
Take a look at Stellar ... it's a fork from Ripple.  It going up even faster as many believe it is a better technology.

I bought right before it went nuts

MU Fan in Connecticut

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Re: Pass Me The Ripple
« Reply #8 on: January 04, 2018, 10:19:40 AM »
Ripple?  What have you been doing, watching reruns of Sanford and Son?

Goose

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Re: Pass Me The Ripple
« Reply #9 on: January 04, 2018, 10:42:10 AM »
Yukon

Thanks for the Stellar info. We have been watching that the past few weeks and going to take the plunge today.

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #10 on: January 05, 2018, 09:05:40 PM »
Rise of Bitcoin Competitor Ripple Creates Wealth to Rival Zuckerberg

https://www.nytimes.com/2018/01/04/technology/bitcoin-ripple.html

The virtual currency boom has gotten so heated that it is throwing the list of the world’s richest people into disarray.

Consider what has happened to the founders of an upstart virtual currency known as Ripple, which has seen its value skyrocket in recent weeks.

At one point on Thursday, Chris Larsen, a Ripple co-founder who is also the largest holder of Ripple tokens, was worth more than $59 billion, according to figures from Forbes. That would have briefly vaulted Mr. Larsen ahead of Facebook chief executive Mark Zuckerberg into fifth place on the Forbes list of the world’s richest people.

Jay Bee

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Re: Pass Me The Ripple
« Reply #11 on: January 05, 2018, 10:40:12 PM »
How do we acquire Stellar? Do you have physical wallets??
Thanks for ruining summer, Canada.

Benny B

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Re: Pass Me The Ripple
« Reply #12 on: January 05, 2018, 11:58:42 PM »
You want a warning.  Go check out the Bitcoin thread.  Not only do Heisy and 82 actually agree on something, but in another post 82 is actually wishing Heisy good fortune. 

Let me repeat that... 82 was actually encouraging Heisy’s Bitcoin efforts.

If that doesn’t scream GTFO of cryptos, I don’t know what does.
Wow, I'm very concerned for Benny.  Being able to mimic Myron Medcalf's writing so closely implies an oncoming case of dementia.

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #13 on: January 06, 2018, 07:25:25 AM »
You want a warning.  Go check out the Bitcoin thread.  Not only do Heisy and 82 actually agree on something, but in another post 82 is actually wishing Heisy good fortune. 

Let me repeat that... 82 was actually encouraging Heisy’s Bitcoin efforts.

If that doesn’t scream GTFO of cryptos, I don’t know what does.

Cryptos are a strange alternate universe where dogs and and cats sleep together and me and 82 agree in everything.

Enter at your own peril!

Hards Alumni

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Re: Pass Me The Ripple
« Reply #14 on: January 06, 2018, 08:34:30 AM »
How do we acquire Stellar? Do you have physical wallets??

Binance.  You can get every coin worth getting there (with the exception of Raiblocks, which should arrive shortly).  Stellar trades as XLM.  I have a physical cold wallet... its a Trezor and it holds my BTC.  A few days ago I was hesitant to recommend REQ because it was having a rough week, but it rebounded nicely up.  Additionally, it is hitting all of its timelines and has a great model.

I recommend checking it out.

Jay Bee

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Re: Pass Me The Ripple
« Reply #15 on: January 06, 2018, 09:26:11 AM »
Binance currently not accepting new users... ugh

So you have some Stellar coins but no physical wallet for it?
Thanks for ruining summer, Canada.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #16 on: January 06, 2018, 10:33:19 AM »
Binance currently not accepting new users... ugh

So you have some Stellar coins but no physical wallet for it?
[/quote

https://www.stellar.org/lumens/wallets/

WarriorDad

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Re: Pass Me The Ripple
« Reply #17 on: January 06, 2018, 11:03:10 AM »
How do we acquire Stellar? Do you have physical wallets??

I don't have a physical wallet, yet, but I never keep my stuff on the exchanges (Coinbase, etc).  I use Exodus as my digital wallet and keep the crazy long string of words needed in case I lose access to the account in a safety deposit box.

I'm tempted to get a physical wallet, however.
“No one is more hated than he who speaks the truth.”
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WarriorDad

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Re: Pass Me The Ripple
« Reply #18 on: January 06, 2018, 11:06:09 AM »
Binance currently not accepting new users... ugh

So you have some Stellar coins but no physical wallet for it?

I just signed up for Binance last week, that is strange.


Question for everyone, how are you guys handling taxes on this stuff?  The way I understand it, if we buy Bitcoin and then use Bitcoin to buy Ripple, that means we are selling Bitcoin in the process and realizing a loss or a gain.  Is that the way you see it?  On my Coinbase account I continue to get reminders at the top to make sure to pay taxes on this stuff, but we all know that these exchanges will not be sending out any 1099's or the like. 

Any accountants want to weigh in? 

https://www.coindesk.com/coinbase-reminds-users-to-pay-their-bitcoin-taxes/
“No one is more hated than he who speaks the truth.”
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ZiggysFryBoy

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Re: Pass Me The Ripple
« Reply #19 on: January 07, 2018, 01:03:46 AM »
Ripple sounds like TP.

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #20 on: January 07, 2018, 08:37:56 AM »
I just signed up for Binance last week, that is strange.


Question for everyone, how are you guys handling taxes on this stuff?  The way I understand it, if we buy Bitcoin and then use Bitcoin to buy Ripple, that means we are selling Bitcoin in the process and realizing a loss or a gain.  Is that the way you see it?  On my Coinbase account I continue to get reminders at the top to make sure to pay taxes on this stuff, but we all know that these exchanges will not be sending out any 1099's or the like. 

Any accountants want to weigh in? 

https://www.coindesk.com/coinbase-reminds-users-to-pay-their-bitcoin-taxes/

Binance stopped accepting new accounts yesterday.  Bitfinex about 4 days ago.

They are overwhelmed.

This is supposedly bullish.  Less than 1% of the population has crypto accounts, a lot more want in, so many that the exchanges cannot keep up.  (Interestingly the place that lags is the US.  It is the developed country with the highest amount of skepticism.)

Without a 1099, the IRS does not know your holdings or gains.  So it is up to you to self report.

In this regard, it is like paying your internet sales tax.  You told to make up some number that cannot be audited.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #21 on: January 07, 2018, 10:18:03 AM »
https://www.binance.com/?ref=11937510

In case anyone wants to use my ref link.  ;D

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #22 on: January 07, 2018, 10:50:31 AM »
Everyone wants in and the exchanges are buckling under the pressure.

https://news.bitcoin.com/coinbase-withdrawal-delays-leave-users-frustrated-crying-foul/

San Francisco-based cryptocurrency exchange Coinbase is experiencing several disruptions to its normal business operations. According to the company’s status page, it is now facing transactions delays, wire processing delays and ID verification delays. Coinbase also reports users are getting degraded performance for both bitcoin (BTC) and ethereum (ETH).

The Coinbase team blames all these problems on high traffic, high volumes and a need to cope with a backlog of transactions. This is in common with other exchanges all around the world who say they can’t handle the massive influx of new traders without causing operational problems. Also similar to the other trading venues, the Coinbase team promises they are working on adding additional resources to optimize their systems to scale.

In general, users are calling on the company to take stronger actions to resolve the situation, and chief among those to halt new client registrations were recently done by Binance, CEX.IO, Bitfinex, and Bittrex. Some higher profile members of the bitcoin community have even taken to social media to threaten Coinbase with legal actions if their concerns are not met.

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #23 on: January 07, 2018, 10:54:36 AM »
How Coinbase could disrupt traditional brokerages and dominate the investment market
https://venturebeat.com/2018/01/06/how-coinbase-could-disrupt-traditional-brokerages-and-dominate-the-investment-market/

Recent reports suggest that Coinbase now has more accounts than traditional brokerage Schwab.
https://www.cnbc.com/2017/11/27/bitcoin-exchange-coinbase-has-more-users-than-stock-brokerage-schwab.html


WarriorDad

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Re: Pass Me The Ripple
« Reply #24 on: January 07, 2018, 12:06:05 PM »
How Coinbase could disrupt traditional brokerages and dominate the investment market
https://venturebeat.com/2018/01/06/how-coinbase-could-disrupt-traditional-brokerages-and-dominate-the-investment-market/

Recent reports suggest that Coinbase now has more accounts than traditional brokerage Schwab.
https://www.cnbc.com/2017/11/27/bitcoin-exchange-coinbase-has-more-users-than-stock-brokerage-schwab.html

Their fees are high. They need to get more competitive and I say that as a Coinbase user.
“No one is more hated than he who speaks the truth.”
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Tugg Speedman

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Re: Pass Me The Ripple
« Reply #25 on: January 07, 2018, 12:34:54 PM »
Their fees are high. They need to get more competitive and I say that as a Coinbase user.

Switch to GDAX.  Your coinbase credentials will work on GDAX.  If you enter a limit order (market-maker) they have no fees.  If you enter a market order (market-taker) then the cost is 0,25% to trade.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #26 on: January 08, 2018, 12:11:41 PM »

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Re: Pass Me The Ripple
« Reply #27 on: January 08, 2018, 10:48:09 PM »
Raiblocks, thoughts? Thinking about jumping in after lots of reading.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #28 on: January 09, 2018, 08:14:26 AM »
Raiblocks, thoughts? Thinking about jumping in after lots of reading.

I'd do it if it was on a decent exchange.  Should be on binance soon.  And it'll shoot up once it arrives in binance.

Benny B

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Re: Pass Me The Ripple
« Reply #29 on: January 09, 2018, 09:13:58 AM »
Not sure if this should go in the Bitcoin thread or here, but I think it applies to both (i.e. all cryptos).

Probably among the most famous of Warren Buffett's one-liners is "Be fearful when others are greedy and greedy when others are fearful."  Admittedly, I don't know that Buffett actually said this or used these words, but generally, anyone who's been around market-making and investments for a material period of time will see some truth in the adage.

With that said, the vast majority of the hype around cryptos is FOMO, crystallized 99.9% purity FOMO.  People are so concerned about missing out on something that they are completely abandoning basic diligence & research, not to mention sound investing philosophies.  I have no problem with people allocating a certain portion of their liquid investments (<5-10%) into cryptos on a short-term basis - in my opinion, it's analogous to buying cheap out-of-money options (i.e. there's a place for it, but it's not a stand-alone strategy) - but anyone who's investing more money in cryptos than they would be willing to burn or thinking about staying in cryptos for the long run are fooling themselves.

Here's the rub.... a lot of people are justifying the leap by the prospect of getting in on the ground floor not realizing that there are a bunch of sublevels below them where the miners have been working for decades.  That's not to say you can't make money on cryptos in the short-term... if you bought a couple months ago and sold today, you're sitting pretty.  But if you're buying today, or even if you bought a year ago, and your strategy is to hold, that's another story.  (Aside: since you can't short cryptos, I'm currently seeking 'crypto investor default swaps' if anyone knows someone who's selling.)

China has essentially banned cryptos, but they are just now starting to crack down... the backpressure to enforcement has been in that local gov'ts have been partnering with the miners to monetize excess electrical capacity, but -- right or wrong -- the idea that cryptos are a major threat to the Yuan is sweeping through Beijing right now, and it doesn't take a Rick and Morty fan to understand what happens when the value of a sovereign currency goes from 1 to 0.

When China does whatever it is they're going to do, 75% of the world's crypto demand is going to dry up within a matter of days.  And if your best counter to that is along the lines of "how can the gov't crack down when it's totally anonymous," I present case in point to the bolded portion above.  So if you believe lack of rationalization is an element of greed, then my advice to you is be fearful of those who are fearful of missing out.

And if China doesn't do anything, rest assured that the Paris Climate Accord - or some new iteration of it - will.  Bitcoin alone is currently consuming more electricity than the countries of Ireland or Denmark (i.e. either country, not in the aggregate), and with the vast majority of that processing coming from areas with coal-fired electric plants (*cough* China), well, it doesn't take long to do the math on what basically boils down to unnecessary carbon emissions, which makes it a likely future target of Al Gore & Friends, GmbH.

If you're going to invest in cryptos, please bracket your buy with a time/price to sell and/or put a stop-loss order on it.
« Last Edit: January 09, 2018, 09:15:31 AM by Benny B »
Wow, I'm very concerned for Benny.  Being able to mimic Myron Medcalf's writing so closely implies an oncoming case of dementia.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #30 on: January 09, 2018, 09:34:28 AM »
Not sure if this should go in the Bitcoin thread or here, but I think it applies to both (i.e. all cryptos).

Probably among the most famous of Warren Buffett's one-liners is "Be fearful when others are greedy and greedy when others are fearful."  Admittedly, I don't know that Buffett actually said this or used these words, but generally, anyone who's been around market-making and investments for a material period of time will see some truth in the adage.

With that said, the vast majority of the hype around cryptos is FOMO, crystallized 99.9% purity FOMO.  People are so concerned about missing out on something that they are completely abandoning basic diligence & research, not to mention sound investing philosophies.  I have no problem with people allocating a certain portion of their liquid investments (<5-10%) into cryptos on a short-term basis - in my opinion, it's analogous to buying cheap out-of-money options (i.e. there's a place for it, but it's not a stand-alone strategy) - but anyone who's investing more money in cryptos than they would be willing to burn or thinking about staying in cryptos for the long run are fooling themselves.

Here's the rub.... a lot of people are justifying the leap by the prospect of getting in on the ground floor not realizing that there are a bunch of sublevels below them where the miners have been working for decades.  That's not to say you can't make money on cryptos in the short-term... if you bought a couple months ago and sold today, you're sitting pretty.  But if you're buying today, or even if you bought a year ago, and your strategy is to hold, that's another story.  (Aside: since you can't short cryptos, I'm currently seeking 'crypto investor default swaps' if anyone knows someone who's selling.)

China has essentially banned cryptos, but they are just now starting to crack down... the backpressure to enforcement has been in that local gov'ts have been partnering with the miners to monetize excess electrical capacity, but -- right or wrong -- the idea that cryptos are a major threat to the Yuan is sweeping through Beijing right now, and it doesn't take a Rick and Morty fan to understand what happens when the value of a sovereign currency goes from 1 to 0.

When China does whatever it is they're going to do, 75% of the world's crypto demand is going to dry up within a matter of days.  And if your best counter to that is along the lines of "how can the gov't crack down when it's totally anonymous," I present case in point to the bolded portion above.  So if you believe lack of rationalization is an element of greed, then my advice to you is be fearful of those who are fearful of missing out.

And if China doesn't do anything, rest assured that the Paris Climate Accord - or some new iteration of it - will.  Bitcoin alone is currently consuming more electricity than the countries of Ireland or Denmark (i.e. either country, not in the aggregate), and with the vast majority of that processing coming from areas with coal-fired electric plants (*cough* China), well, it doesn't take long to do the math on what basically boils down to unnecessary carbon emissions, which makes it a likely future target of Al Gore & Friends, GmbH.

If you're going to invest in cryptos, please bracket your buy with a time/price to sell and/or put a stop-loss order on it.

This is simply not true.

Benny B

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Re: Pass Me The Ripple
« Reply #31 on: January 09, 2018, 10:22:39 AM »
This is simply not true.

Listen, there's no shortage of BTC and crypto propaganda out there, but facts are facts.  China is planning an "orderly exit" from BTC, and according to documents from their Finance Ministry leaked online, that exit is imminent.

https://twitter.com/cryptovenus/status/949405526315716608/photo/1
Quote
Notice from China special rectification on risks in Internet Finance department to local government to make a plan before Jan 10th - ? lead mining factories quit gradually? #btc #bitcoin #BitcoinMining with Central Bank official Chop. Prepare for the roller coaster!!!!

https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/
Quote
The situation is complicated by the fact that many miners, and particularly those in China, make use of cheap power, or flock to locations where there?s excess capacity. In some cases, mining businesses partner with local governments to ensure a steady supply of electricity at discounted rates, with a portion of the profits returned to the local authorities. That?s offered a welcome economic boost in regions where more traditional industries are struggling.

https://www.bloomberg.com/news/articles/2018-01-09/how-china-s-stifling-bitcoin-and-cryptocurrencies-quicktake-q-a
Quote
There?s been no explicit explanation, but cleansing risk from financial markets has been the government?s mantra for more than two years now. Last year saw regulators clamp down on everything from excessive borrowing to equity speculation and in October, at the Communist Party Congress, leaders again pledged to make controlling risk a top priority. Among the main concerns is the booming shadow banking sector, a potential source of unregulated loans to speculators in whatever the latest craze happens to be. Mark McFarland, chief economist at Union Bancaire Privee SA HK in Hong Kong, said the clampdown moves ?suggest a longer term process of tightening scrutiny of activities that aren?t in the normal sort of monetary realm.?

https://www.rt.com/business/415338-china-clampdown-bitcoin-miners-exodus/
Quote
China?s regulatory clampdown on cryptocurrencies is sparking a mass exodus of bitcoin miners from the country, which has the potential to radically alter both global bitcoin and energy markets.
According to a document leaked online, China?s internet-finance regulator has recommended that local governments squeeze bitcoin miners out of the country through electricity pricing, taxation, property law and environmental regulations.

https://news.vice.com/en_us/article/59w5eb/china-is-about-to-kill-nearly-all-bitcoin-mining-operations-in-the-world
Quote
The documents suggest the decision to ban mining was taken in November. It?s an unsurprising move given that Pan Gongsheng, deputy governor of the People?s Bank of China, recently predicted the death of bitcoin.


EDIT: Sorry... forgot the most important part of this:

<a href="https://www.youtube.com/v/vptO6fsFWdU" target="_blank" rel="noopener noreferrer" class="bbc_link bbc_flash_disabled new_win">https://www.youtube.com/v/vptO6fsFWdU</a>
« Last Edit: January 09, 2018, 10:25:50 AM by Benny B »
Wow, I'm very concerned for Benny.  Being able to mimic Myron Medcalf's writing so closely implies an oncoming case of dementia.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #32 on: January 09, 2018, 03:09:26 PM »

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Re: Pass Me The Ripple
« Reply #33 on: January 10, 2018, 09:49:04 AM »
I'd do it if it was on a decent exchange.  Should be on binance soon.  And it'll shoot up once it arrives in binance.

I wanted to get in before binance picked it up. It is also being rebranded as Nova, apparently. Let's see how this goes.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #34 on: January 10, 2018, 10:35:41 AM »
I wanted to get in before binance picked it up. It is also being rebranded as Nova, apparently. Let's see how this goes.

That is where the smart bet is.  I just can't see myself going to a shady exchange.  ;D

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Re: Pass Me The Ripple
« Reply #35 on: January 10, 2018, 10:45:00 AM »
That is where the smart bet is.  I just can't see myself going to a shady exchange.  ;D

I went BitFlip, reddit had good things to say about it...

g0lden3agle

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Re: Pass Me The Ripple
« Reply #36 on: January 10, 2018, 02:42:27 PM »
JB what'd you end up buying XRP at?  Seems to have a pretty serious correction since you got involved.  :'(

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #37 on: January 10, 2018, 06:25:11 PM »
JB what'd you end up buying XRP at?  Seems to have a pretty serious correction since you got involved.  :'(

Coinbase/GDAX denied rumors they are going to list Ripple.  That hurt.

These markets are going ballistic because they are speculative mania.*** 99+% of the planet is NOT involved and wants in.  A few weeks ago everyone was salivating at the potential of tens of millions of new accounts and all the big exchanges like coinbase/GDAX listing all the promising smaller cryptos like Ripple, Stellar and Raiblock.

The reality is these exchanges are struggling with the geometric increase in traffic and are just trying to make it through the day with crashing.  So they are slowing down both the acceptance of new accounts and listing new cryptos.

It will happen, just looking like it will take more time.

I traded out of Ether today and bought Raiblock and Ripple.

*** speculative manias are the best markets to play in.  You can make a sh!t ton of money in a very short time.  The problem, and it is a big one, is you can lose a sh!t ton of money in a blink of an eye.  Understand this is a take no prisoners way to play.
« Last Edit: January 10, 2018, 06:26:55 PM by Tugg Speedman »

Jay Bee

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Re: Pass Me The Ripple
« Reply #38 on: January 10, 2018, 10:47:38 PM »
JB what'd you end up buying XRP at?  Seems to have a pretty serious correction since you got involved.  :'(

I have not ever been in XRP. Still very interested; need time to understand wallets, exchanges, etc.
Thanks for ruining summer, Canada.

g0lden3agle

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Re: Pass Me The Ripple
« Reply #39 on: January 11, 2018, 08:02:13 AM »
I have not ever been in XRP. Still very interested; need time to understand wallets, exchanges, etc.

Well lucky you!  You missed out on quite the drop that started pretty much right when you started this thread.

I've recently created Coinbase and Binance accounts.  So far everything has been very easy and straightforward to set up.

MU82

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Re: Pass Me The Ripple
« Reply #40 on: January 11, 2018, 08:13:21 AM »
Stocks

South Korea is planning to ban cryptocurrency trading via exchanges, according to Justice Minister Park Sang-ki, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil. It's a major development as the country is one of the biggest markets in the crypto space. The news also follows yesterday's warning from Warren Buffett that speculation in bitcoin, and other cryptocurrencies, "will have a bad ending."
“It’s not how white men fight.” - Tucker Carlson

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #41 on: January 11, 2018, 02:53:15 PM »
Well lucky you!  You missed out on quite the drop that started pretty much right when you started this thread.

I've recently created Coinbase and Binance accounts.  So far everything has been very easy and straightforward to set up.

It's reversing on this

Ripple's XRP is exploding after announcing a partnership with MoneyGram to speed up transfers
http://markets.businessinsider.com/news/stocks/ripple-price-surges-after-company-partners-with-moneygram-and-the-stock-is-soaring-2018-1-1012922729?tk

Shares of Moneygram, the second-largest money transfer company in the world, spiked 13% Thursday after the company said it had signed a partnership with Ripple to test using the company?s XRP cryptocurrency to improve transfer settlement times and costs. XRP is climbing as well, up 2.42%.

Last week, Western Union spiked on an unverified rumor that it planned to also use XRP. Ripple said in a tweet that it has signed three of the world?s five largest money transfer companies, but did not elaborate on which.

Jay Bee

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Re: Pass Me The Ripple
« Reply #42 on: January 11, 2018, 06:27:55 PM »
I am now on Binance. Let's go!!!!!!!
Thanks for ruining summer, Canada.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #43 on: January 11, 2018, 07:03:02 PM »
Stocks

South Korea is planning to ban cryptocurrency trading via exchanges, according to Justice Minister Park Sang-ki, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil. It's a major development as the country is one of the biggest markets in the crypto space. The news also follows yesterday's warning from Warren Buffett that speculation in bitcoin, and other cryptocurrencies, "will have a bad ending."

Terrible reporting again.  SK is not banning crypto.

MU82

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Re: Pass Me The Ripple
« Reply #44 on: January 11, 2018, 10:48:58 PM »
Terrible reporting again.  SK is not banning crypto.

Thanks for setting the record straight. I was just passing along something I read; don't shoot the messenger. I don't invest in this stuff. I don't have the stomach for it.
“It’s not how white men fight.” - Tucker Carlson

Hards Alumni

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Re: Pass Me The Ripple
« Reply #45 on: January 12, 2018, 05:09:22 AM »
Thanks for setting the record straight. I was just passing along something I read; don't shoot the messenger. I don't invest in this stuff. I don't have the stomach for it.

Absolutely don't blame you.  My wife does the same thing to me.  The speed at which news comes out, and the correction the next few hours or a day later really has a huge effect on the crypto market.

Almost like there is intentional FUD out there (FUD = Fear, Uncertainty, Doubt) from people... but realistically, I think the actual lack of knowledge and desire to get clicks leads to news agencies to create misleading headlines.

Jay Bee

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Re: Pass Me The Ripple
« Reply #46 on: January 12, 2018, 10:12:41 AM »
Now that I?m on Binance (nh), would it be crazy to just send over a few g?s, and buy Ripple and let it sit there while I figure out what to do re: a wallet or other protection?
Thanks for ruining summer, Canada.

WarriorDad

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Re: Pass Me The Ripple
« Reply #47 on: January 12, 2018, 10:49:51 AM »
Binance stopped accepting new accounts yesterday.  Bitfinex about 4 days ago.

They are overwhelmed.

This is supposedly bullish.  Less than 1% of the population has crypto accounts, a lot more want in, so many that the exchanges cannot keep up.  (Interestingly the place that lags is the US.  It is the developed country with the highest amount of skepticism.)

Without a 1099, the IRS does not know your holdings or gains.  So it is up to you to self report.

In this regard, it is like paying your internet sales tax.  You told to make up some number that cannot be audited.


That makes me nervous.  Washington Post article about this topic yesterday.  I plan on playing it straight.  My assumption is when we move bitcoins from Coinbase to Binance, is that considered a sale?  Must be, right?  There is a fee involved, but a bit confusing because I'm not actually selling the crypto per se, but the fee is coming from the crypto currency.

https://www.washingtonpost.com/news/the-switch/wp/2018/01/11/its-going-to-be-a-nightmare-some-bitcoin-investors-are-in-for-a-rocky-tax-season/?utm_term=.689942265607
“No one is more hated than he who speaks the truth.”
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Hards Alumni

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Re: Pass Me The Ripple
« Reply #48 on: January 12, 2018, 11:50:53 AM »
Now that I?m on Binance (nh), would it be crazy to just send over a few g?s, and buy Ripple and let it sit there while I figure out what to do re: a wallet or other protection?

First off, tell me whatbyou want ripple.  If you can do this easily, then yes.

It's pretty safe on binance... but I'd get a ledger sooner rather than later.  And since your talking a few g's, sooner.

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #49 on: January 12, 2018, 05:19:51 PM »

That makes me nervous.  Washington Post article about this topic yesterday.  I plan on playing it straight.  My assumption is when we move bitcoins from Coinbase to Binance, is that considered a sale?  Must be, right?  There is a fee involved, but a bit confusing because I'm not actually selling the crypto per se, but the fee is coming from the crypto currency.

https://www.washingtonpost.com/news/the-switch/wp/2018/01/11/its-going-to-be-a-nightmare-some-bitcoin-investors-are-in-for-a-rocky-tax-season/?utm_term=.689942265607

I transfer Ether between coinbase (Gdax) and Binance.  No fee involved in the transfer.  The average time is about 20 minutes.  A fee to trade, about the same as Gax (which is much lower than coinbase).

Did two this week, including one yesterday.

WarriorDad

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Re: Pass Me The Ripple
« Reply #50 on: January 12, 2018, 07:25:59 PM »
I transfer Ether between coinbase (Gdax) and Binance.  No fee involved in the transfer.  The average time is about 20 minutes.  A fee to trade, about the same as Gax (which is much lower than coinbase).

Did two this week, including one yesterday.

My question is when a fee is taken out, is that considered a sale?  My asset was reduced to pay for the trade.
“No one is more hated than he who speaks the truth.”
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Tugg Speedman

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Re: Pass Me The Ripple
« Reply #51 on: January 12, 2018, 08:16:13 PM »
My question is when a fee is taken out, is that considered a sale?  My asset was reduced to pay for the trade.

As I understand it, no fee when it is the same Crypto because it is in the same blockchain.  So sending ether from one ether address to another ether address (ie., send ether from your account on one exchange to another exchange) ... no fee.

Trade from one crypto to another, fee. So trade from ether to bitcoin then a fee is charged as the exchange has to juggle the transaction between two blockchains (the ether blockchain and the bitcoin blockchain).

Others please correct or revise accordingly

Jay Bee

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Re: Pass Me The Ripple
« Reply #52 on: January 12, 2018, 11:27:35 PM »
My question is when a fee is taken out, is that considered a sale?  My asset was reduced to pay for the trade.

Wouldn?t see it as a sale, as you simply transferred an asset. Question is whether you can reduce basis, which would seem to be a no.

(All CPAs aren?t dorky tax geeks, so won?t share my background)
Thanks for ruining summer, Canada.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #53 on: January 30, 2018, 01:14:39 PM »
Hopefully, no one bought any Raiblocks on Bitgrail...

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #54 on: January 30, 2018, 09:38:11 PM »
Hopefully, no one bought any Raiblocks on Bitgrail...

Between this and the Bitfinex/Tether news

https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

the bad news is coming in waves and waves.

All part of the process and getting close to a major buying opportunity.  Not yet but getting close.

Benny B

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Re: Pass Me The Ripple
« Reply #55 on: January 31, 2018, 11:16:58 AM »
https://thenevadaindependent.com/article/blockchain-company-buys-67000-acres-at-northern-nevada-industrial-park

http://www.rgj.com/story/money/business/2018/01/23/industrial-park-houses-tesla-gigafactory-nearly-sold-out-after-blockchains-deal/1059002001/


Some real mysterious stuff going on out in Reno right now.  "Blockchains LLC," which is basically a front being run by a CA law firm, is under contract to purchase >64,000 acres of land in the Tahoe Reno Industrial Complex (TRIC).

Tesla owns 2,800 acres for its gigafactory in TRIC.
Google owns 1,200 acres in TRIC.
Switch has their campus on 2,000 acres.
TRIC is only 107,000 acres total.

So a mysterious blockchain company is proposing to purchase nearly 2/3rds of TRIC at a cost (estimated) in excess of $1B, and all they've said is that they intend to use 150 acres for a company HQ/campus... a company which, by the way, only appears to have a handful of employees?!?!?

I'm struggling to put the pieces together, but this is clearly not going to be a mining and/or solar operation (there is cheaper land/infrastructure available elsewhere in NV).  The only thing that makes sense is that someone is cashing out of crypto(s) and putting it into a much safer store of value, in which case, a billion dollar crypto-selloff may already be underway.
Wow, I'm very concerned for Benny.  Being able to mimic Myron Medcalf's writing so closely implies an oncoming case of dementia.

Benny B

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Re: Pass Me The Ripple
« Reply #56 on: January 31, 2018, 11:28:33 AM »
Wow.... plot thickens.  Land purchaser also owns a quasi-media org covering blockchain/crypto space.

https://www.ethnews.com/blockchains-llc-acquiring-over-60000-acres-in-nevada-to-showcase-blockchain-applications-yes-ethereum-no-mining

Curious that the author is "estimating" purchase at $175M ($2,800/acre)... which would be nearly a 90% discount compared to what Google paid for their site last year.  If they did get it for $2,800/acre, that's got to be the real estate buy of the decade.
« Last Edit: January 31, 2018, 11:35:21 AM by Benny B »
Wow, I'm very concerned for Benny.  Being able to mimic Myron Medcalf's writing so closely implies an oncoming case of dementia.

forgetful

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Re: Pass Me The Ripple
« Reply #57 on: January 31, 2018, 05:30:04 PM »
Wow.... plot thickens.  Land purchaser also owns a quasi-media org covering blockchain/crypto space.

https://www.ethnews.com/blockchains-llc-acquiring-over-60000-acres-in-nevada-to-showcase-blockchain-applications-yes-ethereum-no-mining

Curious that the author is "estimating" purchase at $175M ($2,800/acre)... which would be nearly a 90% discount compared to what Google paid for their site last year.  If they did get it for $2,800/acre, that's got to be the real estate buy of the decade.

And if it was discounted 90%, there is a lot more weird and shady dealings going on here.  Very odd set of developments. 

I fully expect this to end in raids and arrests.

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #58 on: January 31, 2018, 09:34:38 PM »
Tracy Alloway @tracyalloway 14h

Bad things that happened to crypto in past 24 hours:

-Facebook bans ICO, cryptocurrency ads
-CFTC subpoenaing Bitfinex & Tether
-SEC/CFTC both seem to be signalling crackdowns
-South Korea says it found $600m in crypto-related crime
-SEC halts AriseBank's ICO

Anything else?

reinko

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Re: Pass Me The Ripple
« Reply #59 on: February 05, 2018, 12:29:58 PM »
How y'all doing?  (not trying to be sarcastic, just hoping nobody is taking a complete bath with the downwards turn as of late...)

g0lden3agle

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Re: Pass Me The Ripple
« Reply #60 on: February 05, 2018, 12:37:04 PM »
How y'all doing?  (not trying to be sarcastic, just hoping nobody is taking a complete bath with the downwards turn as of late...)

I'm hodl'ing!!!!!  Down like 60%+ on my XRP investment.

reinko

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Re: Pass Me The Ripple
« Reply #61 on: February 05, 2018, 02:12:02 PM »
DJI currently down 1,475  :o
« Last Edit: February 05, 2018, 02:13:37 PM by reinko »

MU82

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Re: Pass Me The Ripple
« Reply #62 on: February 05, 2018, 06:50:40 PM »
I'm a long-term investing kind of guy. I don't trade in and out. Heck, I held every share of everything I owned through the recession.

I respect folks who can trade in and out like that. I don't have the stomach for it.
“It’s not how white men fight.” - Tucker Carlson

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #63 on: February 05, 2018, 10:43:51 PM »
DJIA futures down ANOTHER 850 points as I write (10:45PM CT Monday night)

forgetful

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Re: Pass Me The Ripple
« Reply #64 on: February 06, 2018, 12:14:34 AM »
DJIA futures down ANOTHER 850 points as I write (10:45PM CT Monday night)

The question was never if there would be a major correction, it was when.  The market is still over-valued. 

muwarrior69

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Re: Pass Me The Ripple
« Reply #65 on: February 06, 2018, 05:27:56 AM »
DJIA futures down ANOTHER 850 points as I write (10:45PM CT Monday night)

When everyone is selling, I usually buy and frankly whoever is President does not really much matter. If it goes down further today I will probably buy some more.

Benny B

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Re: Pass Me The Ripple
« Reply #66 on: February 06, 2018, 08:55:37 AM »
DJIA futures down ANOTHER 850 points as I write (10:45PM CT Monday night)

Three letters: XIV
Wow, I'm very concerned for Benny.  Being able to mimic Myron Medcalf's writing so closely implies an oncoming case of dementia.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #67 on: February 06, 2018, 09:38:48 AM »
How y'all doing?  (not trying to be sarcastic, just hoping nobody is taking a complete bath with the downwards turn as of late...)

Not awesome, but the rule is to not invest anything you can't afford to lose all of.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #68 on: February 07, 2018, 08:01:19 AM »
Good news brings back bull market

Goose

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Re: Pass Me The Ripple
« Reply #69 on: February 08, 2018, 12:18:35 PM »
Reinko

I am still up roughly $0.30/coin at this point. Far cry from the $3.00+ profit a little over a month ago. I vowed to keep it for a year and then make decision. Bought roughly 12/1, so ten months to go. Good news, I have stopped watching it non stop.

Hards Alumni

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Re: Pass Me The Ripple
« Reply #70 on: February 09, 2018, 10:15:25 PM »
Hopeful no one had XRB on bitgrail.  As I've said, take your crypto off exchanges.  Only use reputable exchanges.

Bon chance!

MU82

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Re: Pass Me The Ripple
« Reply #71 on: February 10, 2018, 05:11:05 PM »
Reinko

I am still up roughly $0.30/coin at this point. Far cry from the $3.00+ profit a little over a month ago. I vowed to keep it for a year and then make decision. Bought roughly 12/1, so ten months to go. Good news, I have stopped watching it non stop.

5 years to judge.

Oh wait ... that's something else.

Never mind.
“It’s not how white men fight.” - Tucker Carlson

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #72 on: February 14, 2018, 09:37:41 PM »
Good article about how the banking system is feeling the pressure of cryptos and trying to innovate.  They are still away and they are leaving the door to cryptos taking their business away.

https://www.sovereignman.com/trends/terrified-of-bitcoin-banks-forced-to-innovate-for-the-first-time-in-40-years-22944/


MU82

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Re: Pass Me The Ripple
« Reply #73 on: February 14, 2018, 09:44:30 PM »
Thoughts and prayers to the banking system.
“It’s not how white men fight.” - Tucker Carlson

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #74 on: February 15, 2018, 11:40:33 AM »
Thoughts and prayers to the banking system.

Now that's funny!

Tugg Speedman

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Re: Pass Me The Ripple
« Reply #75 on: February 19, 2018, 08:08:12 PM »
If (repeat if) this is successful it could be a game changer in the crypto space.

Telegram Could Raise A Staggering $2 Billion In Biggest-Ever ICO; Is It Just Another Scam?
https://www.zerohedge.com/news/2018-02-19/telegrams-2-billion-ico-just-another-scam


WarriorDad

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Re: Pass Me The Ripple
« Reply #76 on: March 03, 2018, 09:26:26 AM »
As I understand it, no fee when it is the same Crypto because it is in the same blockchain.  So sending ether from one ether address to another ether address (ie., send ether from your account on one exchange to another exchange) ... no fee.

Trade from one crypto to another, fee. So trade from ether to bitcoin then a fee is charged as the exchange has to juggle the transaction between two blockchains (the ether blockchain and the bitcoin blockchain).

Others please correct or revise accordingly

Coinbase  complying with court order to turn over data to IRS

https://www.forbes.com/sites/kellyphillipserb/2018/02/28/coinbase-notifies-customers-that-it-will-turn-over-court-ordered-data/#7aa8559a1431
“No one is more hated than he who speaks the truth.”
— Plato

 

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