If you can tear yourself away from the immediate post voting analysis this evening, then this may provide a little light relief - https://www.bbc.co.uk/programmes/m00035w8
Well the restructuring at that fabled bellwether of the crypto industry Long Blockchain Corp, formerly known as Long Island Iced Tea Corp, seems to finally be in place so who knows what could happen next - https://markets.businessinsider.com/...9-3-1028012464
If you can tear yourself away from the immediate post voting analysis this evening, then this may provide a little light relief - https://www.bbc.co.uk/programmes/m00035w8
I think there has been a lot of markey manipulation and suppression going on, once regulation gets sorted the whole market will be on the move. Hopefully not too much longer.
Have you looked into XRP at all as a very long term (5 year HODL) investment?
https://forum.tz-uk.com/showthread.p...=1#post5047493
Ripple will reach zero value even before Bitcoin. It's an outright fraud.
Someone who lies about the little things will lie about the big things too.
Lol, you genuinely believe that?
So given what I said in that post I referenced what makes you say Ripple are a fraud, I'm intrigued?
Sent from my ONEPLUS A5000 using TZ-UK mobile app
You do understand the concept of using hyperlinks to link to articles of reference?
Someone who lies about the little things will lie about the big things too.
I missed that link Raffe, thank you very much for pointing that out to me. Quick, I better sell all my XRP holdings now! ha hahaha Lol
Trolly McTrollface, this guy seem legit. OK, so here is why I think that article is a load of old FUD!
For a start swift GPI still requires the bank to mainatin their vostro and nostro account. These are a significant risks to the banks themsevles will all that FX capital tied up that can't be used for other purposes. By using XRapid and X Pool banks offload that liability to the exchanges, like Bitrix to name just one. The sending exchange make the trade with the receiving exchange in the destination country and the exchange at the other end coverts XRP back to fiat and passes that onto the banks. The volitility risk is 3 - 4 seconds and the banks are not required hold XRP. The very act of the exchanges buying and selling the XRP created utility volume in the market which drives up price. Swift GPI does not solve the banks biggest risk / cost which is mainatin all these FX vostro and nostro accounts around the world. Xrapid does solve that problem and means the bank can free up that capital as nostro / vostro is no longer needed If you were a bank which would you choose?
I'm fully intrigued with bitcoin now. Not from a technology perspective and not from an investment perspective because I just don't see it as that. I'm seeing it from a gambling perspective, £10 on a horse to win at Newmarket sort of thing. Just looking at whether there's an argument for allocating 0.5% or 1% of total asset to this gambling. Hmmm.
Foreign exchange ties up bank capital because of cash in Nostro accounts? Do you at least know the difference between Vostro and Nostro? In which way is maintaining nostro accounts around the world (vostro accounts are just held in one's own books) a large cost / risk? And why does almost simultaneously buying and selling an amount of Ripple drive up price - the net volume is zero?
Do you know anything about banking or are you just repeating the XRP-army's nonsensical talking points??
Someone who lies about the little things will lie about the big things too.
Pretty much all of these large FI's are bloody crooks. What they tell the public (blockchain / bitcoin / ETH) is a fraud and we should not touch it is a blatant lie. They have all been working on developing / testing blockchain to solve the next liquidity crisis we all face, while publicly denouncing Bitcoin / Blockchain.
Here are some links from reputable financial institutions that getting on board with Ripples network, VS some random dude called Trolly McTrollface:
Do yourself a favour and have a proper read through them. For credibility bare in mind these are links directly back to these institutions own websites, not some random post on the internet by a troll. Cast iron proof that banks and FIs have been colluding together spreading FUD about blockchain to put off the retail investors like you and I! If you still think that Ripple don't have a working product, are not working with the UK, US and other governments and the IMF then I really don't know what will convince you.
Bank of England RTGS 2012 - The BoE laying out the requirement for RTGS using blockchain tech! YES, FROM 2012!
https://www.bankofengland.co.uk/-/me...infrastructure
Bank of England Ripple POC 2017 - They have said they will be onboard by 2024. 17 Trillion per day moving through that payment rail alone.
https://www.bankofengland.co.uk/-/me...fintech/ripple
Bank of England Ripple Staff Working Paper No. 725Central bank digital currencies — design principles and balance sheet implications
https://www.bankofengland.co.uk/-/me...t-implications
Just take a look at who the IMF are on stage with at the Singapore fintech festival. I wonder who the IMF are working with…
https://www.youtube.com/watch?v=Bvr-ktJTJRE
Deutsche Bank DLT - Search for Ripple
http://www.cib.db.com/docs_new/The_B...e_July2018.pdf
Interledger Protocol has been adopted as a W3C (internet protocol) standard. Built by Ripple and given away (open sourced) so that all blockchain projects can communicate.
https://www.w3.org/2018/Talks/es-ilp-20180430.pdf
Royal Bank of Scotland, the tax payers favourite bank. This is from 2015, just search for Ripple.
https://investors.rbs.com/~/media/Fi...r-18062015.pdf
Take a look at pages 12 - 13 if you want to see how the plan this to play out.
http://cofinaeventos.pt/wp-content/u...ance-Isaac.pdf
There is plenty more examples out there if you do some proper research into it.
So Raffe, this assertion that Ripple is an outright fraud and going to zero, what is it based on?
As for Bitcoin my personal view is that you can make lot of money from it in the next market boom when all the average Joe's pile into the retail market and buy up the 1st mover household name that is Bitcoin however as a long term investment it is not going to last. This is where the large FIs that currently own 80% of Bitcoin will offload it, you would be wise to do the same. It is 1st generation old tech, it is inefficient and very energy intensive, there are many other better privacy coins, like Monero for example. Transactions are very slow and it is anyone’s guess which entities control the mining hash power which validates the transaction. Once other less tech savvy people realise this it will be too late and it will take a dive. The head of blockchain at Nasdaq already realises this:
https://ambcrypto.com/bitcoin-btc-an...t-development/
I think XRP presents a great 5 to 10 year long term HODL opportunity. What do you now think?
Thanks for the links. I think it will go to zero.
Someone who lies about the little things will lie about the big things too.
Yes I do understand the difference between ours and yours. Yes, I've also been learning a lot about banking these past 18 months that I’ve spent researching various crypto projects so I can learn which one stand the best chance of long term success. I would say I do have a reasonably good understanding of how the parts of the banking system work, far better than most of the investors in this space.
The banks involved have to settle up between each other and they are supposed to do this on a daily basis but as I understand this does not always take place. Also the currency markets fluctuate which also a substantial risk. So from the banks perspective if you take away the need to maintain these accounts and agreements with other banks by not having to hold XRP, with the exchanges themselves becoming the liquidly providers for these transactions that is a win win. The banks don't want to told XRP themselves for this purpose, this became evident in the 2015 trial that Ripple conducted which is why they went down the road of using preferred exchanges to become the liquidity providers to the bank. It also give a great opportunity for the smaller tier 2 banks to directly conduct their own X boarder payments, circumventing the larger banks that have these X border agreements in place.
These are both worth a read to understand some of the challenges faced by banks.
Waking Up to the Intraday Realities of Nostro Cash Management
https://www.theglobaltreasurer.com/2...sh-management/
PNB's risk management system to come under RBI scanner for laxity in SWIFT messaging, Nostro reconciliation
https://www.businesstoday.in/sectors...ry/270762.html
I'm not part of any army Raffe, I'm just a community researcher digesting the facts that I find, working with others to try and distille the truth and coming to conclusions bases on my research. How about you?
So you can indeed quote accident-free from articles, maybe next step make sure what you post is actually relevant for your argument (how does the RBI/PNB article tie in?).
To the best of my knowledge, there is one bank which Ripple claims to be using XRP. It is Euro Exim Bank. Except, that Euro Exim Bank is not a bank:
There’s only one problem. Euro Exim Bank isn’t a London-based bank. It’s an offshore bank registered in a tax haven. It has a London office, which is registered as a small company in the U.K., but that’s not a bank. Euro Exim Bank’s website says that it has a class A international banking license from the Caribbean tax haven of St. Lucia. This authorizes it to “carry on international banking business from St. Lucia.” But it does not authorize it to carry on banking business in St. Lucia, and the company’s website specifically says that it “does not provide any services to any natural person or legal entity in St. Lucia.” So, Euro Exim Bank is not a St. Lucia bank. The U.K.’s Financial Conduct Authority (FCA) website shows that Euro Exim Bank’s U.K. registration was terminated in February 2017. (...) In fact, Euro Exim Bank does not have an onshore banking license anywhere in the world. (link).
Nothing new in that, Ripple's history is riddled (or is that rippled?) with false or exaggerated claims.
Let's just agree to disagree, I am getting a bit tired of arguing with a stranger. You buy as many XRP as you can and hodl them until you see fit, I don't. Good luck with the trade.
Someone who lies about the little things will lie about the big things too.
The point of my original post was not to ague with a stranger but to discuss with the TZ community what their thoughts are on digital currencies, specifically XRP, and to also offer up some of the more solid facts that I've stumbled across while researching that backup the claims that Ripple are working with central and commercial banks. This was prompted by you assertion that XRP is a fraud etc etc. I am trying to present information so that others in our TZ community can digest that information and come to their own conclusions on what they think is a sound long term investment.
You have given your opinion and despite the (presumably) new information I posted you opinion has not changed. We are all entitled to our own opinions and I have answered the questions you asked, you don't have to respond to my post if you don't want to. I was trying to understand why you have that point of view and I'm open minded to other alternative opinions that do not necessarily align with mine. I know I do not have all the answers, that is why I asked you why you have that view.
Like you said, I wish everyone luck here with their investments. I want to help others here in our TZ community because the deck of cards is stacked against people like us. I hope others here do find the information I posted useful, even if you did not.
There is a lot of Fear Uncertainty Doubt (FUD) being spread out there by trolls and others (perhaps FI's) with a vested interest in keeping retail investors like us out of the market. For example, the CEO of JP Morgan was spread FUD on twitter last December about crypto and immediately after that market started to tank. JPM have been busy this year this creating... yes, their own digital currency, the JMP coin! So last year they are telling everyone digital coins are a fraud and just over the year later they release their own. Like I said, there is a lot of mis-information out there and my intention learn what I can and to help others see this, presenting facts where I can.
In answer to your question (how does the RBI/PNB article tie in?). It simply shows there are challenges with managing nostro / vostro accounts that will not be solved by Swift GPI, but would be solved with X Rapid.
As for banks using Ripples tech, there are many. My friend works for Santander and mentioned to me they were last year, the press release stating this is below. There are many other tier 2 banks around the world using them (ask google) but until governments agree on regulations I don't think you are going to see mass adoption or any major money coming into this space.
https://www.santander.com/csgs/Satel...Impresion_PT48
Like I said, I hope this is useful to others out there investing in crypto.
Always interested to hear about other crypto projects that people strongly believe will be a success, there are many others to choose from.
I hope it doesn't crash to zero just yet, I'm still holding almost 1BTC lol
Nice! Definitely hang onto that and wait for the next bull run. Hopefully we will see later later this year when regulation legitimises the crypto space which should allow lager FIs to get involved with investment proucts. Its all a bit wild west still with large buyers / sellers (whales) being able to radically move the mark price. Not what any of us need.
Don't get me wrong, I think Bitcoin has years left it in yet and in the next bull run will do very well due to it being a household name. If I had any Bitcoin that is the point I would trade it for a decent profit and get into something else.
I'm planning on HODL-ing my stash for a good 5 years (some of it for 10 years) because it will take that long for the world to catch up. Look how long it took the internet to fully develop. This is no different however the network moves value instead of data.
We are all in for a very interesting ride, most people just can't see it yet but they will.
Officially Slate seem to be reserving their judgement, though I can't help but get the feeling they may make for a tough audience.
I don't think you are.
But are you following the army? It's all over the social networks.
Someone who lies about the little things will lie about the big things too.
To be honest I more follow the news and dig the net for evidence to support rumours I hear. I don't follow the XRP army as such so to honest I had not seen that but WOW! That is manupulation on an industrial scale from the sheer number of accounts involved. Making direct threats like that is just wrong, the DM apology was interesting though.
I wonder if it is down to a few idiot supporters, more likly due to the apology in my view, or if there is a proper organisation behind this. Reminds me of some of the government sponsors social media manipulations we've experienced in the past.
Interesting...
What a price explosion this morning, BTC jumped almost 15% within a few hours, reaching a high just above $5,000 briefly to settle around $4,650 for the moment.
Can't find any real reason other that there was a bit of a volume spike (but still a lot less volume than during the autumn sell-off last year). The internet is abuzz with bullish talk, every punter and their dog are calling the end of crypto-winter and forecasts as to the future value of Bitcoin are ballooning ($100 trillion, anyone?). Nothing new then.
Unfortunately Ripple seems to have been asleep when this all happened (XRP/GBP 0.256).
I will sell my long BTC position if we reach $5,200 to $5,400.
Someone who lies about the little things will lie about the big things too.
I've been holding mine for years.
I mined my coins back in something like 2011/2012, spent loads of them gambling and buying things like games and polish vodka lol, then forgot about them.
When the price balooned at the end of 2017, I dug out my old wallet.dat and found a couple of coins still there.
I've spent fractions of them on various things like a 1080ti, Oculus, hard drives, routers.. allsorts.
If the price jumps again, I might buy a watch this time :)
Apparently a buy order of 20,000 BTC spread across a number of exchanges kicked off the surge in price...
I have a few small investments maturing soon and I was thinking of buying a bitcoin with some of it. After reading this thread it sounds like that would be risky and certainly not a guaranteed win!
I've only got approx 1 BTC left at the moment. I think I have 0.29 in Bitpay (handy for spending on my phone) and something like 0.71 in Bitcoin Core wallet
I'd love to get an omega seamaster in black or a rollie sub
I kick myself thinking how many coins I blew through years ago lol
Last edited by Pyr0; 3rd April 2019 at 14:24.
Ive just opened a Coinbase account, so what crypto’s should I buy?
It looks like I have the choice of the following;
I didn’t know there were so many....
Cheers,
Adam.
Sent from my iPhone using Tapatalk
The fact you asked this question shows you haven’t done any research and you’re trying to ride the gravy train that has well and truly gone.
Any funds you plan to invest you might as well stick it on Cardiff to win tonight. Stick to watches 😬
Crypto’s are high risk and volatile. If you do buy some you should use cold storage methods.
Well said.
Sent from my [null] using Tapatalk
We’re not into the highs of the Christmas before last but the £250 I spent a few years back is now worth £7500 so I’m very happy with that return lol, I dabbled trading a while back but I haven’t got the time nor the patients for it so they’re just sat idle for now. It’s just a punt at the end of the day you’d be as well sticking your money on red in the casino as a sound investment but if you’re prepared to lose your punt then have at it.
Respect
depending how much you have to dabble with, stick £100 on each except the USDC and then wait a few weeks at least before you put anymore in. Research each coin and decide if you like what it stands for etc.
Good website for research is coincheckup.com it has lots of research of its' own but also links to reddit, facebook, twitter etc accounts for each.
Missed my sell limit of BTC/EUR 4,800 by less than 50 Euros half an hour ago, reminds me of my failed buy order at BTC/EUR at 2,700 in December....
Someone who lies about the little things will lie about the big things too.
gravy-a-plenty $20K before the year is out.
Are you John McAfee by any chance? (Asking for an acquaintance from Lëtzebuerg.)