Official BGOL Crypto Currency Thread ★★★★★

he'd have NOTHING to worry about in that scenario if he converts -

XRP --> XRT --> USD when he's ready to "cash out" (his $$$ would still be tied into the site but it will be US dollars)

- that being said the real threat imo would be the site going belly up and crashing/folding NOT the currency's value...so yes he should have other options ultimately bcuz his USD will still be sitting on their site

Well that's the point...it crashing. Again, There's a a 200k LIMIT (on Kraken)
or 2.4 mil per year. Now I know I'm wishful thinking but if you have 20 Mil USD
in Kracken it's LOCKED up at 2.4 Mil per year and you are a Slave to the Market (Win or Lose)
And even if you said were right they STILL holding your USD
It's better to at least have 50% in a desktop wallet IMO
That way you can transfer to ANY Exchange site and cash out when needed
 
it's NOT the same guy...the partner who left and dumped his ripple is JED MCCALEB...I posted the link a few pages back...let's not shut down info that we're not aware of...what dude posted is exciting news...anyway here's the article that talks about the partner who left

http://www.coindesk.com/price-ripple-xrp-plummets-co-founde-9-billion-selloff/

I stand corrected, You are right BUT I still don't see why he would help his OLD employer. IMO
Here's the article of THIS guy leaving

https://www.americanbanker.com/news/chris-larsen-stepping-down-as-ceo-at-ripple
 
Hey fam, do you think it's worth getting a VPS to run this software 24-7?

Some people do but from what I've read a lot of people say you have to Mine
the cheaper Currency cause Bitcoins are not worth Mining. You actually pay more
for Electricity...Hahahaha
I just Ran my shit all night Mining AEON. I can't tell yet how many I have....:confused:
 
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Well that's the point...it crashing. Again, There's a a 200k LIMIT (on Kraken)
or 2.4 mil per year. Now I know I'm wishful thinking but if you have 20 Mil USD
in Kracken it's LOCKED up at 2.4 Mil per year and you are a Slave to the Market (Win or Lose)
And even if you said were right they STILL holding your USD
It's better to at least have 50% in a desktop wallet IMO
That way you can transfer to ANY Exchange site and cash out when needed
You mean like Mt Gox crashing?
Its why I put some bread with Bitstamp. They are the one exchange that's licensed for whatever extra sense of security that should bring.

Plus now can buy direct XRP with USD, so no need to do all the extra hoops and steps like buying from Coinbase to transfer to Kraken.

Just a heads up...
 
You mean like Mt Gox crashing?
Its why I put some bread with Bitstamp. They are the one exchange that's licensed for whatever extra sense of security that should bring.

Plus now can buy direct XRP with USD, so no need to do all the extra hoops and steps like buying from Coinbase to transfer to Kraken.

Just a heads up...

No, I mean like XRP crashing
 
No, I mean like XRP crashing
I feel because of the financial systems who are in bed with this, it's going to stay around within a number.

What I look at is there is XRP taken away at every settlement of a transaction. So imagine a bank moving 500k USD in XRP and the coin now was at a dollar. I forgot how many are used, but if you get where I'm going. They destroy some XRP for every transaction. So it hits a dollar, or 10 or 100.

What do you think.
 
I feel because of the financial systems who are in bed with this, it's going to stay around within a number.

What I look at is there is XRP taken away at every settlement of a transaction. So imagine a bank moving 500k USD in XRP and the coin now was at a dollar. I forgot how many are used, but if you get where I'm going. They destroy some XRP for every transaction. So it hits a dollar, or 10 or 100.

What do you think.

I understand
But I don't think you understand what I'm saying.
All I'm saying is that IMO. You should not load up with this in
one exchange place. Do a Few and have 50% in a desktop wallet.
These sites restrict your withdrawal amount (Kraken is 200K per month or 2.4 mil a year)
If you have 20 Million (wishful thinking) that's a pretty big handcuff.
So you would be held hostage by the XRP Rate or like LSN said if you did cash out
to USD they still hold it. If you have a desktop wallet you can send you XRP to any
exchange place you want and cash out to USD.
 
Last edited:
I understand
But I don't think you understand what I'm saying.
All I'm saying is that IMO. You should not load up with this in
one exchange place. Do a Few and have 50% in a desktop wallet.
These site restrict your withdrawal amount (Kraken is 200K per month or 2.4 mil a year)
If you have 20 Million (wishful thinking) that's a pretty big handcuff.
So you would be held hostage by the XRP Rate or like LSN said if you did cash out
to USD they still hold it. If you have a desktop wallet you can send you XRP to any
exchange place you want and cash out to USD.


Ok what's the easiest way to get a desktop wallet. Kinda need step by step instructions this whole word new to me. I've posted more in this thread the last 5 days then I did th first 5 years on bgol lol
 
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Some people do but from what I've read a lot of people say you have to Mine
the cheaper Currency cause Bitcoins are not worth Mining. You actually pay more
for Electricity...Hahahaha
I just Ran my shit all night Mining AEON. I can't tell yet how many I have....:confused:
Haha dope. I got a VPS for $8 a month this morning running it. So by this evening I should have something worth trading for Ripplez. Definitely going to mine AEON and a few others. Mining the BCN right now.
 
I understand
But I don't think you understand what I'm saying.
All I'm saying is that IMO. You should not load up with this in
one exchange place. Do a Few and have 50% in a desktop wallet.
These sites restrict your withdrawal amount (Kraken is 200K per month or 2.4 mil a year)
If you have 20 Million (wishful thinking) that's a pretty big handcuff.
So you would be held hostage by the XRP Rate or like LSN said if you did cash out
to USD they still hold it. If you have a desktop wallet you can send you XRP to any
exchange place you want and cash out to USD.

pardon this dumb question but can a ripple wallet hold bitcoins as well, or is it just what it says it is.. a ripple wallet?
 
I understand
But I don't think you understand what I'm saying.
All I'm saying is that IMO. You should not load up with this in
one exchange place. Do a Few and have 50% in a desktop wallet.
These sites restrict your withdrawal amount (Kraken is 200K per month or 2.4 mil a year)
If you have 20 Million (wishful thinking) that's a pretty big handcuff.
So you would be held hostage by the XRP Rate or like LSN said if you did cash out
to USD they still hold it. If you have a desktop wallet you can send you XRP to any
exchange place you want and cash out to USD.
I get that, I was asking about it blowing up as in the rate per coin.

I can't remember what amount of Ripple is destroyed per transaction, but there's a percentage. So a bank is moving 500k from one country to another. Let's say they take 5 coins and the coins value $100 a piece. A bank isn't paying that to move the funds.

I was talking about it hitting these high numbers. Unless I'm missing something. I just feel like they will try to keep this coin in a certain number/rate because of that very reason.
 
Make sure your using the BITCOIN ADDRESS.Not the RIPPLE ADDRESS.

I did that before
I've never tried it, but any movement like that has to be verified within the network. It shouldn't go thru. It wouldn't be an address within the Ripple network.
 
I did a wire transfer on Monday night w kraken. Still in processing status. How long does it take for the funds to clear?
Kraken's speed and customer service hasn't been impressive, for me.
 
You mean like Mt Gox crashing?
Its why I put some bread with Bitstamp. They are the one exchange that's licensed for whatever extra sense of security that should bring.

Plus now can buy direct XRP with USD, so no need to do all the extra hoops and steps like buying from Coinbase to transfer to Kraken.

Just a heads up...

:yes::yes::yes::yes::yes::yes::yes::yes::yes::yes::yes::yes::yes:
 
Yea and Bitstamp is doing a promo, that they won't charge any fees for transferring to ripple

:D:D:D

okay-thumb.jpg
 
Some of these bitcoin sites are shady...best to keep your currency in a wallet offline..company could fold tomorrow and your shit is gone.

Just sat in on a meeting about passwords and security at work...hope you guys are using a password manager. At the very least do yourself a favor and dont use passwords that youve used for your email, a forum or elsewhere. Forums and other websites that you dont think much about because they dont have your credit information are continously under attack and scraped for passwords that can be used on site that DO matter and hold your card information.
 
Make sure your using the BITCOIN ADDRESS.Not the RIPPLE ADDRESS.

I did that before
I figured out what the problem was. Instead of paying attention and depositing with the bitcoin address I kept clicking deposit for the XRP address and trying to copy that into Coinbase to send the money how fucking stupid of me. :roflmao:
 
Some of these bitcoin sites are shady...best to keep your currency in a wallet offline..company could fold tomorrow and your shit is gone.

Just sat in on a meeting about passwords and security at work...hope you guys are using a password manager. At the very least do yourself a favor and dont use passwords that youve used for your email, a forum or elsewhere. Forums and other websites that you dont think much about because they dont have your credit information are continously under attack and scraped for passwords that can be used on site that DO matter and hold your card information.
I do two step verification using Google Authenticator.

When I log in, I have to get the code off my phone which lasts like 60 seconds at a time.
 
quick question: most of my ripple is with Kraken. do I need to create an account and move it over to bitstamp?
my thought process was it it hits big and I can only get 200k a month, im handicapped. but if I sell say 75% of my ripple, convert it to USD , then I would ok with them cashing me out at 200k a month.....so what do you think.i will move half over to bitstamp if I can do a transfer....
 
I do two step verification using Google Authenticator.

When I log in, I have to get the code off my phone which lasts like 60 seconds at a time.

Good, me too. Just wanted to say something because there's always that one brother whose still using "password" as his password.
 
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