link me!
lmao
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
lmao
ripple got the #2 spot...
1Bitcoin $29,406,535,920 $1800.90 16,328,800 BTC
2Ripple $8,424,227,780 $0.219920 38,305,873,865 XRP
3Ethereum $8,307,324,169 $90.70 91,589,711 ETH
it's had it a few times over the last couple of weeks but it kept crashing. I don't think it's going to go below 17 again.
ripple got the #2 spot...
1Bitcoin $29,406,535,920 $1800.90 16,328,800 BTC
2Ripple $8,424,227,780 $0.219920 38,305,873,865 XRP
3Ethereum $8,307,324,169 $90.70 91,589,711 ETH
Man I hope your dreams that you been having come true
and then add on to mine
and me and you will get a beer..well I'll drink a sprite.
http://www.coindesk.com/bitcoin-pizza-day-celebrating-pizza-bought-10000-btc/
nigga. that pizza cost $18,000,000
Man. I know he can't even stand to see pizza right now.
he probably
Asalamalaikum, my brotha. I have a question. Can I transfer my Ripple from Poloniex to my GateHub Wallet?
This post, I would like to be addressed by Mr Wickyoff Wackyoff or WackyaOff, I forget that good brotha's name. But Aaaruughh.
What do you think of the comments of theses two devils, saying that Ripple may not be viable longterm?
What do you think of the comments of theses two devils, saying that Ripple may not be viable longterm?
Y'all want to check out this pump and dump Telegram group I saw shared in the GunBot room?
These dudes are really all setting designated buy orders all at the same time and dumping at specified times. You wanna make money, that a all they about.
Play at your own risk, but observe, observe and observe all that they doing...
Here you go:
http://t.me/joinchat/AAAAAEIe8ZxrEshk1ZUYYg
These dudes are really all setting designated buy orders all at the same time and dumping at specified times. You wanna make money, that a all they about.
Play at your own risk, but observe, observe and observe all that they doing...
Here you go:
http://t.me/joinchat/AAAAAEIe8ZxrEshk1ZUYYg
There full of shit, no one knows the future, they are talking about a bunch of hypothetical shit , yea a asteroid might hit earth to and then there will be no ripple. Nothing they said was worth shit.
Works for me, takes you to the Telegram group. That link joins you to the group. I have the mobile app. Not sure if you're trying it on the desktop? But these dudes pushed CLAM last night. They have a big pump coming Monday. They really working together to manipulate coin buys.
I agree. I just wanted to hear your opinion on this. We gotta keep in mind that the white man is the devil, and even though they stated that bullshit they stated, they STILL BOUGHT and OWN RIPPLE, now don't they?
Now, sir my question for you is this. Do you think that the XRP Ripple will likely surpass the Bitcoin in Price (current Bitcoin Price and Value)?
I can survive on 1.8 mil if I moved out of NYC. But that's bare bones living. About 3 mil and I'm straight. 8 mil and it's "fuck my career".
I can't live on less than $200,000 a year 
With my lifestyle, I'd Starve. Unless I stock up on m' bean pie
Good to see the demand for XRP in Korea picking up.
XRP Trading On Coinone Quickly Overtakes Bitcoin and Ethereum Pairs
Looks like they said "fuck it, we'll do it live!!!"
Coinone launches Ripple trading 3 days ahead of schedule
Friday 12th of May 2017
upcoming Monday, May 15th. The early listing was likely in response from competitor exchange Bithumb, who also announced XRP trading to be launched on that day.
In the race to be first, Coinone officially launched XRP for the first time in Korea today at 11:00 pm Korea Time on May 12, 2017.
The exchange now offers an XRP/KRW trading function, which allows users to buy and sell Ripple (XRP) directly in Korean won (KRW).
The Coinone team said:
“We have made an open schedule earlier than planned by many requests from our members. In addition, in order to commemorate the opening of the Ripple Exchange, we will apply the fee free (0%) for the Ripple Transactions for the month of May.”
XRP wallets with deposit/withdrawal capacity will be announced at a later date along with margin trading.
BTC → XRP inflows significantly increased from Q4 2016 to Q1 2017. The external capital inflow rate was only 25.2% in Q4 2016 but soared to 71.1% in Q1 2017. The percent share of XRP against BTC compared to other digital assets in the last quarter of 2016 was 45.1% and increased to 66.6% in the first quarter of this year.
According to the data, most volume increases occur in off-balance-sheet transactions of BTC/XRP. As a result, potential market risks (block size, hard fork, etc.) on bitcoin in the future could have a positive impact on the ripple market. Below is a chart from Ripple comparing the two previous quarters.
At the end of the first quarter of 2017, it can be concluded that capital flows through bitcoins have significantly increased prices and volumes. Sufficient liquidity is required for an asset to be successful. This can be interpreted as a signal that ultimately ripple is getting the payment liquidity needed to succeed as a payment channel.
Ripple is soon expected to announce new developments, a couple of which include the use of escrow and plans to introduce a systematic market management program to add liquidity.
XRP Trading On Coinone Quickly Overtakes Bitcoin and Ethereum Pairs
- Published on May 14, 2017 at 11:00 BST
The past week has been pretty interesting for XRP owners. With the value slowly climbing to new heights, things are looking quite well for the future valuation of XRP as a whole. The currency is now trading on the Korean Coinone exchange as well, where it has quickly overtaken Bitcoin and Ethereum to become the top-traded cryptocurrency. - Coinone Adds XRP To Much Delight of Users
Although it was announced some time ago, the Korean Coinone exchange has finally enabled XRP trading as of this weekend. That change will introduce more people to XRP, as the platform specializes in cryptocurrency-to-fiat trading pairs. In this case, XRP is traded against the Korean Won, and things are off to a good start so far.
To be more specific, the XRP/KRW trading pair of Coinone has quickly overtaken BTC/KRW and ETH/KRW. That latter one is not surprising, as there is very little demand for ETH on this Korean exchange for some reason. The fact that XRP overtook BTC trading in just a few hours is rather spectacular, though. According to Coinmarketcap, Coinone generated over US$5. 7m worth of XRP/KRW volume so far.
All of this good news goes to show a bright future awaits XRP, the native token of the Ripple ecosystem. Yesterday could have been quite a good run for XRP, were it not for the Poloniex exchange. To be more specific, the exchange once again suffered from an alleged DDoS attack. It is the third time in a week this happened right at the time when XRP is generating a lot of trading volume. While that is most likely coincidental, some people are starting to think Poloniex is effectively manipulating the altcoin market these days.
Luckily, it appears exchanges like Coinone will help elevate the XRP to new heights. As of right now, the currency is trading at a value of US$0. 251947 on Coinone. Poloniex and Kraken have it listed at US$0.219458. While it is true Asian exchange users often pay a premium for trading currencies, this would represent a near 20% premium for XRP trading.
Looking at the bigger picture, XRP has successfully overtaken ETH to become the world’s second-largest cryptocurrency by market cap. Both currencies will continue to jockey for position as time progresses, though, since the market cap of both currencies is very close to one another. It is not impossible for XRP to see a breakout sooner or later, though, as experts predict the token may hit a US$1 value in the coming months.
Yall might find this interesting. I've been trying to understand the bubble. Some many altcoins are on a run right now. It doesn't make sense
New wave of Japanese investors are fueling the great altcoin bubble
The altcoin bubble is in full force and is creating a lot of buzz and euphoria in the crypto space. Some may argue it’s not a bubble and smart money is flowing into the space, Bitcoin is losing its position to altcoins, the world has finally acknowledged the value of cryptocurrencies and so on. But most people are probably just theorizing on little evidence and have no idea what’s really causing this bubble. I think I know the answer now. Newly entering Japanese investors are driving this great altcoin bubble and not-so-smart money is flowing into the space especially into some altcoins at a rather concerning rate.
What’s happening now?
The past few weeks especially, the crypto space has been seeing an unprecedented bull run across almost all coins. Despite the never ending debates and politics within the Bitcoin community over the scaling debate, the bitcoin price has climbed up to all time high all the way over $1700 and it looks like it may go even higher from here. While the Bitcoin price increase alone is very impressive, many other altcoins such as Ether and XRP are making even more killings and their prices increased 5 or even 10-fold in mere several weeks.
While this crazy bull run has pushed up the entire cryptocurreny market cap to more than 50 billion dollars quickly for the first time according to the coinmarketcap.com, the Bitcoin dominance rate has sharply fallen to the all time low now nearing 50%. Some altcoiners are pointing it out as a legitimate trend and some even started gloating victoriously that “Bitcoin is dead and altcoins (or whatever coin they own) will take over from here”
All the above is no secret and everyone in the space knows that already. But what the heck is really going on and what’s causing this altcoin bubble? Is it something we(bitcoiners) should be worried about? If you understand what’s happening in Japan, the whole picture becomes a bit clearer.
New era of cryptocurrencies in Japan
As predicted in my previous post in the beginning of this year, Japan has become the world’s biggest bitcoin trading market after the sudden drop of liquidity in the Chinese market. According to Coinhills, the JPY-BTC market is ranked first ahead of the USD market and now accounts for more than one third of the world’s total trading volume on average. In fact, the prediction was not a difficult one to make although it has happened much sooner than I anticipated. There were a lot of indications that risk loving investors and serious institutional players were looking to enter the crypto market since last year in Japan.
The biggest and direct cause for this seemingly sudden boost is the new cryptocurrency regulation which went effective in April and with the official stamp of approval from the higher authority, an entirely new wave of Japanese people started rushing to cryptocurrencies.
Japan is known for its homogeneous culture and the key to adoption of anything is whether people perceive that “everyone else is doing it” or not. So, obviously, it seems we have passed the tipping point in Japan and now it’s suddenly completely “OK” to hop onto the crypto train and people started assuming it’s safe to invest in them because “everyone else is doing it”. Major Japanese cryptocurrency exchanges such as bitFlyer, coincheck and Zaif are onboarding thousands of users every day now and I predict the JPY dominance will even go further in the near future.
Altcoin popularity and abundance of not-so-smart money
So the Japanese crypto space is experiencing an extraordinary rate of growth and more users and thus more money are flowing into the space. This is already one piece of evidence on how Japanese are leading this bubble but there are even more interesting twists to it.
First, one of the unique characteristics of the Japanese crypto space is that altcoins are very popular as a means of investment and some of them have very strong and dedicated communities; some even more active than the Bitcoin community itself in a way. Among them, two of the most popular altcoins in Japan are XRP(Ripple) and XEM(NEM).
XRP has been popular for a long time in Japan for whatever the reason. Maybe it’s because major Japanese banks are experimenting with Ripple technology and people here tend to have a lot of faith in banks and large institutions Ripple Labs is partnering with in Japan.
On the other hand, NEM is popular thanks to the strong backing of the platform from the Zaif exchange, one of the biggest exchanges in Japan along with bitFlyer and coincheck. NEM’s private blockchain solution developed by Zaif with NEM’s core developers is called MIJIN and it has established itself as a strong brand in the crypto space in Japan.
The point here is not to debate whether those coins are superior to Bitcoin or offer any utility at all but rather is the fact that they have strong local communities in Japan and a lot of information(and misinformation) regarding those two coins particularly have been translated and made accessible to even beginners.
So, it’s natural to suspect a lot of the new money from Japan are flowing into those coins and coincidentally(or not) two of the hottest coins in terms of price appreciation as of late are XRP and XEM. They are currently ranked 3rd and 5th respectively in terms of the market cap as of this writing.
(Ethereum is pretty popular in Japan like any other countries by the way but XRP and XEM are unique phenomena in the Japanese market)
Another thing to note about this new trend is that the general lack of understanding or appreciation of the technology by many of new users. This is no surprise and all of us have been there at one point but the new wave of Japanese investors seem to be exhibiting a whole new level of incomprehension and misguided decision making in my opinion. Many of them don’t bother researching what those coins do nor what they are useful for but rather follow whatever they hear in exchanges’ chatrooms(the worst place for investment advice literally…)
One funny episode I can share to describe the level of understanding is that I heard someone was spreading misinformation in a chatroom that this rich foreigner called “Mr. SegWit” is buying up a lot of Litecoin now and that’s why the price of Litecoin is going up and likely go even higher. And ironically, some people really do believe this kind of nonsense and jump onto the bandwagon without thinking much! It’s just absurd beyond hilarious.
In short, I, along with other Japanese community members, had a strong suspicion that these inexperienced Japanese investors were leading the whole altcoin bubble, where even some shitcoins without any use cases or viable products increase 5-fold for seemingly no reason. Then, this week’s incident at coincheck cemented this suspicion.
Coincheck goes down and everything becomes so obvious
Looking at the charts, the prices of XRP and XEM jumped up significantly on May 8th right after “Golden Week” in Japan, one of the biggest holidays of the year for Japanese salarymen. It made a lot of sense as bank transfers are restricted during holidays (of course) and May 8th(Mon) was the first business day after Golden Week and a lot of money arrived at crypto exchanges.
Then the following day, something made it even more obvious. Coincheck, which is sort of like Japanese Poloniex with the biggest altcoin listing, halted their service abruptly in the morning of May 9th after the bitcoin price at the exchange reached over 10k USD in a matter of few minutes along with unnatural price increases across all altcoins listed.
Prices of coins at the time of the incident
(The cause of this malfunction is yet officially unknown and coincidentally Poloniex went down around the same time but the cause of this is not the main point of contention here, so I’ll skip that part)
This caused chaos and altcoin prices started dropping sharply by more than 20% at other exchanges, leaving many new Japanese users confused and angry. Then after a few hours from the accident, coincheck announced that it was rolling back the system to the pre-accident state and shortly after, they resumed all the trading except XRP purchase.( XRP delisted temporarily due to liquidity shortage according to the official announcement)
This led to a rather fascinating turn of events. Lots of those new users were upset but their appetite for trading stayed strong and in the absence of XRP, many of them turned to other altcoins like XEM, Litecoin and Ether. Surely, the XEM price went up quickly after coincheck went back up as the chart below indicates.
(The conversations and shilling which were happening in the coincheck’s trollbox at the time were “very very interesting” to say the least)
Then guess what happened next? The following day, on May 10th, right after coincheck re-enabled XRP purchase, the price of XRP shot up quickly, “investors” shedding tears of joy.
At this point, there was little doubt for everyone in Japan as to what was driving this altcoin bubble.
Key takeaways
What’s happening in Japan now is rather unique and is an unforeseen territory for the crypto community as a whole in my opinion. On one side, it’s great that we are approaching mainstream adoption of cryptocurrencies thanks to regulatory clarity unlike any other countries and an entirely new group of people is entering the market, bringing with them more liquidity and attention to the space.
On the other hand, there is a number of people including myself who are worried about this unsustainable rate of growth and mutation of the community. The level of understanding among crypto investors is at all time low while exchanges are not quite ready to accommodate such a huge uptick and continue to stumble into major issues rather frequently, causing nightmares and disappointments to new users.(Bitcoin’s ever increasing tx fees are not helping here, either)
Furthermore, people are in it for quick profits and don’t seem to be interested in understanding technical or social aspects of cryptocurrencies at all. Many don’t even know what a “wallet” or “private keys” are yet while dumping lots of money on some coins. I can already see many accidents and tragedies happening to those new users unfortunately…
Another takeaway is that considering what’s happening in Japan right now, I’d predict more not-so-smart money will continue to flow into certain altcoins. The main argument here is not whether those altcoins will have any technical or practical merits but rather the mere fact that the new investors in Japan are more attracted to more volatile and riskier altcoins rather than slightly more stable and established Bitcoin, dreaming of becoming a millionaire in a few weeks.
If this is what’s really happening and what will continue to happen, I don’t know if the metric like the Bitcoin domination rate(bitcoin vs all other altcoins combined market ratio) is any good measure to indicate the true value or usefulness of cryptocurrencies.
Sure, you may argue that this has been always the case for any cryptocurrencies and speculation eventually brings real users and values. However, my feeling after observing those new entrants is that that’s just not the case. While some altcoins will provide some real utility and may possibly challenge or even overtake Bitcoin in the future, the current altcoin price increases are not providing any direct evidence for increased usage or real demand my opinion. If anything, it validates skeptics’ view that cryptocurrencies are only good for speculation.
Lastly, if you are a cryptocurrency trader, there will be ample opportunities ahead thanks to a new type of hungry and inexperienced Japanese investors. Whoever wishes to be ahead of the trend cannot (shouldn’t) ignore the Japanese market anymore. Unfortunately, however, what’s happening in Japan mostly stays here due to a huge language and cultural barrier and historically Bitcoin media have done a terrible job reporting accurate and useful information on the market in my opinion. (So good luck using Google Translate a lot!)
In conclusion
I have predicted the Japanese takeover of the crypto trading market before and my next prediction would be more severe price swings for altcoins led by the Japanese market in the coming months. I don’t think this is sustainable and the bubble will pop eventually without a doubt. I don’t know when exactly that will happen but I know Japanese will play a big role in it.
I’m not even a trader myself and I don’t even care if my portfolio value goes up or down in the short term. To be quite honest, I am a bit tired of short-sighted and meaningless conversations happening in the space now.
It’s true that cryptocurrencies in general are getting closer and closer to mainstream adoption and it’s sort of exciting for me to know that Japan is the forefront of the trend. But, obviously, it’s not all roses and there is a fair dose of concerns about the whole situation. Nonetheless, Japan is providing an intriguing case study as to what mainstream adoption will look like for cryptocurrencies and maybe there will be some valuable lessons which the rest of the world can learn from.
New wave of Japanese investors are fueling the great altcoin bubble
The altcoin bubble is in full force and is creating a lot of buzz and euphoria in the crypto space. Some may argue it’s not a bubble and smart money is flowing into the space, Bitcoin is losing its position to altcoins, the world has finally acknowledged the value of cryptocurrencies and so on. But most people are probably just theorizing on little evidence and have no idea what’s really causing this bubble. I think I know the answer now. Newly entering Japanese investors are driving this great altcoin bubble and not-so-smart money is flowing into the space especially into some altcoins at a rather concerning rate.
What’s happening now?
The past few weeks especially, the crypto space has been seeing an unprecedented bull run across almost all coins. Despite the never ending debates and politics within the Bitcoin community over the scaling debate, the bitcoin price has climbed up to all time high all the way over $1700 and it looks like it may go even higher from here. While the Bitcoin price increase alone is very impressive, many other altcoins such as Ether and XRP are making even more killings and their prices increased 5 or even 10-fold in mere several weeks.
While this crazy bull run has pushed up the entire cryptocurreny market cap to more than 50 billion dollars quickly for the first time according to the coinmarketcap.com, the Bitcoin dominance rate has sharply fallen to the all time low now nearing 50%. Some altcoiners are pointing it out as a legitimate trend and some even started gloating victoriously that “Bitcoin is dead and altcoins (or whatever coin they own) will take over from here”
All the above is no secret and everyone in the space knows that already. But what the heck is really going on and what’s causing this altcoin bubble? Is it something we(bitcoiners) should be worried about? If you understand what’s happening in Japan, the whole picture becomes a bit clearer.
New era of cryptocurrencies in Japan
As predicted in my previous post in the beginning of this year, Japan has become the world’s biggest bitcoin trading market after the sudden drop of liquidity in the Chinese market. According to Coinhills, the JPY-BTC market is ranked first ahead of the USD market and now accounts for more than one third of the world’s total trading volume on average. In fact, the prediction was not a difficult one to make although it has happened much sooner than I anticipated. There were a lot of indications that risk loving investors and serious institutional players were looking to enter the crypto market since last year in Japan.
The biggest and direct cause for this seemingly sudden boost is the new cryptocurrency regulation which went effective in April and with the official stamp of approval from the higher authority, an entirely new wave of Japanese people started rushing to cryptocurrencies.
Japan is known for its homogeneous culture and the key to adoption of anything is whether people perceive that “everyone else is doing it” or not. So, obviously, it seems we have passed the tipping point in Japan and now it’s suddenly completely “OK” to hop onto the crypto train and people started assuming it’s safe to invest in them because “everyone else is doing it”. Major Japanese cryptocurrency exchanges such as bitFlyer, coincheck and Zaif are onboarding thousands of users every day now and I predict the JPY dominance will even go further in the near future.
Altcoin popularity and abundance of not-so-smart money
So the Japanese crypto space is experiencing an extraordinary rate of growth and more users and thus more money are flowing into the space. This is already one piece of evidence on how Japanese are leading this bubble but there are even more interesting twists to it.
First, one of the unique characteristics of the Japanese crypto space is that altcoins are very popular as a means of investment and some of them have very strong and dedicated communities; some even more active than the Bitcoin community itself in a way. Among them, two of the most popular altcoins in Japan are XRP(Ripple) and XEM(NEM).
XRP has been popular for a long time in Japan for whatever the reason. Maybe it’s because major Japanese banks are experimenting with Ripple technology and people here tend to have a lot of faith in banks and large institutions Ripple Labs is partnering with in Japan.
On the other hand, NEM is popular thanks to the strong backing of the platform from the Zaif exchange, one of the biggest exchanges in Japan along with bitFlyer and coincheck. NEM’s private blockchain solution developed by Zaif with NEM’s core developers is called MIJIN and it has established itself as a strong brand in the crypto space in Japan.
The point here is not to debate whether those coins are superior to Bitcoin or offer any utility at all but rather is the fact that they have strong local communities in Japan and a lot of information(and misinformation) regarding those two coins particularly have been translated and made accessible to even beginners.
So, it’s natural to suspect a lot of the new money from Japan are flowing into those coins and coincidentally(or not) two of the hottest coins in terms of price appreciation as of late are XRP and XEM. They are currently ranked 3rd and 5th respectively in terms of the market cap as of this writing.
(Ethereum is pretty popular in Japan like any other countries by the way but XRP and XEM are unique phenomena in the Japanese market)
Another thing to note about this new trend is that the general lack of understanding or appreciation of the technology by many of new users. This is no surprise and all of us have been there at one point but the new wave of Japanese investors seem to be exhibiting a whole new level of incomprehension and misguided decision making in my opinion. Many of them don’t bother researching what those coins do nor what they are useful for but rather follow whatever they hear in exchanges’ chatrooms(the worst place for investment advice literally…)
One funny episode I can share to describe the level of understanding is that I heard someone was spreading misinformation in a chatroom that this rich foreigner called “Mr. SegWit” is buying up a lot of Litecoin now and that’s why the price of Litecoin is going up and likely go even higher. And ironically, some people really do believe this kind of nonsense and jump onto the bandwagon without thinking much! It’s just absurd beyond hilarious.
In short, I, along with other Japanese community members, had a strong suspicion that these inexperienced Japanese investors were leading the whole altcoin bubble, where even some shitcoins without any use cases or viable products increase 5-fold for seemingly no reason. Then, this week’s incident at coincheck cemented this suspicion.
Coincheck goes down and everything becomes so obvious
Looking at the charts, the prices of XRP and XEM jumped up significantly on May 8th right after “Golden Week” in Japan, one of the biggest holidays of the year for Japanese salarymen. It made a lot of sense as bank transfers are restricted during holidays (of course) and May 8th(Mon) was the first business day after Golden Week and a lot of money arrived at crypto exchanges.
Then the following day, something made it even more obvious. Coincheck, which is sort of like Japanese Poloniex with the biggest altcoin listing, halted their service abruptly in the morning of May 9th after the bitcoin price at the exchange reached over 10k USD in a matter of few minutes along with unnatural price increases across all altcoins listed.
Prices of coins at the time of the incident
(The cause of this malfunction is yet officially unknown and coincidentally Poloniex went down around the same time but the cause of this is not the main point of contention here, so I’ll skip that part)
This caused chaos and altcoin prices started dropping sharply by more than 20% at other exchanges, leaving many new Japanese users confused and angry. Then after a few hours from the accident, coincheck announced that it was rolling back the system to the pre-accident state and shortly after, they resumed all the trading except XRP purchase.( XRP delisted temporarily due to liquidity shortage according to the official announcement)
This led to a rather fascinating turn of events. Lots of those new users were upset but their appetite for trading stayed strong and in the absence of XRP, many of them turned to other altcoins like XEM, Litecoin and Ether. Surely, the XEM price went up quickly after coincheck went back up as the chart below indicates.
(The conversations and shilling which were happening in the coincheck’s trollbox at the time were “very very interesting” to say the least)
Then guess what happened next? The following day, on May 10th, right after coincheck re-enabled XRP purchase, the price of XRP shot up quickly, “investors” shedding tears of joy.
At this point, there was little doubt for everyone in Japan as to what was driving this altcoin bubble.
Key takeaways
What’s happening in Japan now is rather unique and is an unforeseen territory for the crypto community as a whole in my opinion. On one side, it’s great that we are approaching mainstream adoption of cryptocurrencies thanks to regulatory clarity unlike any other countries and an entirely new group of people is entering the market, bringing with them more liquidity and attention to the space.
On the other hand, there is a number of people including myself who are worried about this unsustainable rate of growth and mutation of the community. The level of understanding among crypto investors is at all time low while exchanges are not quite ready to accommodate such a huge uptick and continue to stumble into major issues rather frequently, causing nightmares and disappointments to new users.(Bitcoin’s ever increasing tx fees are not helping here, either)
Furthermore, people are in it for quick profits and don’t seem to be interested in understanding technical or social aspects of cryptocurrencies at all. Many don’t even know what a “wallet” or “private keys” are yet while dumping lots of money on some coins. I can already see many accidents and tragedies happening to those new users unfortunately…
Another takeaway is that considering what’s happening in Japan right now, I’d predict more not-so-smart money will continue to flow into certain altcoins. The main argument here is not whether those altcoins will have any technical or practical merits but rather the mere fact that the new investors in Japan are more attracted to more volatile and riskier altcoins rather than slightly more stable and established Bitcoin, dreaming of becoming a millionaire in a few weeks.
If this is what’s really happening and what will continue to happen, I don’t know if the metric like the Bitcoin domination rate(bitcoin vs all other altcoins combined market ratio) is any good measure to indicate the true value or usefulness of cryptocurrencies.
Sure, you may argue that this has been always the case for any cryptocurrencies and speculation eventually brings real users and values. However, my feeling after observing those new entrants is that that’s just not the case. While some altcoins will provide some real utility and may possibly challenge or even overtake Bitcoin in the future, the current altcoin price increases are not providing any direct evidence for increased usage or real demand my opinion. If anything, it validates skeptics’ view that cryptocurrencies are only good for speculation.
Lastly, if you are a cryptocurrency trader, there will be ample opportunities ahead thanks to a new type of hungry and inexperienced Japanese investors. Whoever wishes to be ahead of the trend cannot (shouldn’t) ignore the Japanese market anymore. Unfortunately, however, what’s happening in Japan mostly stays here due to a huge language and cultural barrier and historically Bitcoin media have done a terrible job reporting accurate and useful information on the market in my opinion. (So good luck using Google Translate a lot!)
In conclusion
I have predicted the Japanese takeover of the crypto trading market before and my next prediction would be more severe price swings for altcoins led by the Japanese market in the coming months. I don’t think this is sustainable and the bubble will pop eventually without a doubt. I don’t know when exactly that will happen but I know Japanese will play a big role in it.
I’m not even a trader myself and I don’t even care if my portfolio value goes up or down in the short term. To be quite honest, I am a bit tired of short-sighted and meaningless conversations happening in the space now.
It’s true that cryptocurrencies in general are getting closer and closer to mainstream adoption and it’s sort of exciting for me to know that Japan is the forefront of the trend. But, obviously, it’s not all roses and there is a fair dose of concerns about the whole situation. Nonetheless, Japan is providing an intriguing case study as to what mainstream adoption will look like for cryptocurrencies and maybe there will be some valuable lessons which the rest of the world can learn from.
This analysis showing XRP going to 31,000 by first week of June or so.
www.tradingview.com/chart/XRPBTC/v7adxtPv-2017-05-15-XRPBTC
www.tradingview.com/chart/XRPBTC/v7adxtPv-2017-05-15-XRPBTC
Got denied...didn't follow directions...took about 4 days to hear back
can someone give an UPDATED step by step on how to get your first bit of this if someone has no background here. I waas supposed to buy a couple hundread woth back at the initial post and got to where I had to input my personal info and backed out.
Need to get a couple grand worth before it blows up now.
Need to get a couple grand worth before it blows up now.
Unless you have a specific question to what your issue is, everything you need to get started should be in the OP. Mr. Wyckoff added updates, videos and all.
ya before this...5 mill before taxes has always been the number I've said I'd need to be able to somewhat enjoy being rich...2-3 mill would allow me to live like I'm living now w/o ever having to work again til I'm 100...which is still great...bcuz I'd still be comfortable and have ZERO stress...summers off does wonders for me...I'd also be able to do what I want as far as personal endeavors/interests...besides living to 100 is a bit unlikely so I can splurge a little bit here and there...that being said if XRP rises to a point that I can withdraw half of it for an equivalent of $500k before taxes then I'd take a chance and retire early and hope the other half can grow into what I need it to be...that would give me about a 10 year head start
Good to see the demand for XRP in Korea picking up.
XRP Trading On Coinone Quickly Overtakes Bitcoin and Ethereum Pairs
- Published on May 14, 2017 at 11:00 BST
- Coinone Adds XRP To Much Delight of Users
Although it was announced some time ago, the Korean Coinone exchange has finally enabled XRP trading as of this weekend. That change will introduce more people to XRP, as the platform specializes in cryptocurrency-to-fiat trading pairs. In this case, XRP is traded against the Korean Won, and things are off to a good start so far.
To be more specific, the XRP/KRW trading pair of Coinone has quickly overtaken BTC/KRW and ETH/KRW. That latter one is not surprising, as there is very little demand for ETH on this Korean exchange for some reason. The fact that XRP overtook BTC trading in just a few hours is rather spectacular, though. According to Coinmarketcap, Coinone generated over US$5. 7m worth of XRP/KRW volume so far.
All of this good news goes to show a bright future awaits XRP, the native token of the Ripple ecosystem. Yesterday could have been quite a good run for XRP, were it not for the Poloniex exchange. To be more specific, the exchange once again suffered from an alleged DDoS attack. It is the third time in a week this happened right at the time when XRP is generating a lot of trading volume. While that is most likely coincidental, some people are starting to think Poloniex is effectively manipulating the altcoin market these days.
Luckily, it appears exchanges like Coinone will help elevate the XRP to new heights. As of right now, the currency is trading at a value of US$0. 251947 on Coinone. Poloniex and Kraken have it listed at US$0.219458. While it is true Asian exchange users often pay a premium for trading currencies, this would represent a near 20% premium for XRP trading.
Looking at the bigger picture, XRP has successfully overtaken ETH to become the world’s second-largest cryptocurrency by market cap. Both currencies will continue to jockey for position as time progresses, though, since the market cap of both currencies is very close to one another. It is not impossible for XRP to see a breakout sooner or later, though, as experts predict the token may hit a US$1 value in the coming months.
So my concern is how do we ensure that when the time to cash out comes, we get the best possible USD rate? Also, have we determined the best way to get out with USD yet?
Cats about to lose their job cause they can't hold water 
Context to this tweet: I was monitoring the XRP chatter last night when Ripple employee Joel Katz was engaging with users. Long story short, one member tried to bait Joel into admitting if a lockup was going to be announced during Consensus 2017 on May 22 and a playful exchange ensued all the while not confirming/denying anything. Anyway, somebody started a new thread with this topic and now there are tweets flying.
Either way, I'm excited
Context to this tweet: I was monitoring the XRP chatter last night when Ripple employee Joel Katz was engaging with users. Long story short, one member tried to bait Joel into admitting if a lockup was going to be announced during Consensus 2017 on May 22 and a playful exchange ensued all the while not confirming/denying anything. Anyway, somebody started a new thread with this topic and now there are tweets flying.
Either way, I'm excited
5 mil is good. As an accredited investor, if you pull in 7-10% a year that's about 350-500 grand a year before taxes.
I'll get a decent pension and free medical insurance for life if I retire at 55, so I need big money to give it all up. No way I'm retiring early for a baseline income, inflation will eat that up in 15 years. I need 'party every wknd with hoes doing lines off my dingaling' real fuck you money.
1 M? so you just been a lottery ticket away from saying "fuck you" to the job?
1m could get 10% conservatively with many wealth managers. But messing with this crypto, I could pay someone to manage this and get 10% a week or dare I say every two.
Being a whale in this, you could easily sway coins in such a volatile environment on Polo. I can see easily making 4 times that a year.
"fuck you" to worrying about shit. I'm too young to sit at home though so I'd still work or do something else.
I've also traveled alot while being broke so there's not much i need to see besides africa
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