If we repeat the action of 2017 just twice till 2020, it will land us at half a million bucks per bitcoin - Real Crypto, John McAfee and me are pretty sure this is going to happen. Actually, what could be more more likely ? So far, only a minority of people even knows what bitcoin even IS. Why bother with day trading, we'll all be rich anyways. Relax...
Think about hodling it through folks - what's your opinion ? -
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i am assuming the same --- holding bitcoins till 2020 --but what do you think about ripple...do it have a secured future as well
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You know, 21 million bitcoins. Ripple - sort of endless supply... one is more seen as store of wealth, the other as a means of exchange, so they don't play in the same field. There's lots of coins that can be great means of exchange, the entire ETH chain, Litecoin, Lumens and ... and... the rest is psychology.
Banks and isntitutions may use one or more of these, nations may, or they my create their own.
In this connection, I don't think anyone will be impressed with Ripple's volatility, though in essence that wouldn't really matter - but again, psychology.
Users may use what they think is best, or follow the banks' offers, which is more likely as users are not always the brightest, and they are herd animals. Can't foresee what institutions will decide.
Not all decisions are reasonable, most are trial and error.
All this is the reason why so many people still stick with bitcoin and hodle on through, with me it's 50/50.
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If you notice, every-time Ripple jumps, BTC drains, many BTC holders transfer that money to XRP since it is becoming almost as known as Bitcoin nowadays, and the fact that it is cheaper and still affordable, new comers would prefer to have 7,000 XRP than 1 BTC at the same price. BTC needs a survival kit for people to storm back to it again, lower fees, speed and scalability.
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The concept of "more affordable" evades me in this case. What is more affordable about Ripple ? I buy Bitcoin for $500 - but hey, I shoulda bought Ripple for $500 bcuz that's more affordable ?
I have however noticed that the principle of percentages doesn't come naturally to all humans, so maybe that explains the mysterious effect. So maybe we shouldn't call such people newcomers but rather, "morons" ?
I don't see any problem with BTC, really - I have never used it for a transaction at all - for example, only a moron would buy it at coinbase and then send it elsewhere or even to a wallet, with the exception of extreme hodlers. What I like about BTC is the 21 million limit, and the symbolism. It is unique, and it doesn't care to be used for transaction like cheap copper.
There was a banking expert" on TV yesterday who actually opined that Bitcoin was doomed to "fail" because "what if the 21 million cons are gone ? There will be no more supply, and it will be worthless!"
You see ? Logic is dead, you can tell morons anything these days and they will not see the contradiction.
That's why they are morons. They problem is that so many of them are in the market these days, and that makes the market dangerous. Morons need banks to do their thinking for them.
If you look at the end of Year dip in bitcoin (and most others), that was just a normal correction. The memory is just fresh, and the human primate is an impressionable ape. Look at the chart for 8 months back on the daily scale. You will find that this ALWAYS happens. It rises and keeps rising at a certain angle for about six weeks, then it starts falling again for awhile (for about three weeks), then it rises again.
Ripple ? Oh, Ripple. Ripple can grow, why not. Totally different thing, nothing to do with bitcoin at all. No overlap here. None except that th market has limited capital, and is now largely composed of morons.
They will be weeded out by the volatility, the faster the better ;)
So, should we hodl Bitcoin and Ripple and maybe some ETH and be done with it ?
There's more competition for Ripple than there is for bitcoin, actually. For example, there's XLM (Stellar Lumens), made by the Ripple originators.
It's not being controlled by them however, as Ripple is.
And there's others. So I would think that Ripple is in danger at least as much as Bitcoin is.
Bitcoin is a store of value. Will it rise forever ? Does gold rise forever ?
Coins will rise as long as people flood in, buying them, and that will happen as long as only a minority IS actually in. This will eventually stop, no idea if before 2020 or after.
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You are right, but regarding the 500$ example, I was referring to the multiple factor, there's a much higher chance for a cheap coin to double in price than BTC to double in price, for example, I put 1,000 USD on verge when it was 0.005 USD, that got me 200K XVG. After XVG reached 20 cents, I sold 100K verge and was able to buy 1.4 BTC with it, and still have 100K XVG left. If I put that 1,000 USD on BTC, it would take quite a while for it to make the gains like a cheap coin. BTC will be like Godzilla, a very powerful yet slow Asset that stays hidden in a mystery realm, so it will be a great store of value, literally Digital Gold.
Same goes for Ripple, much higher chance for Ripple to double in price than BTC, that is why people invest in cheaper coins, so they can eventually return larger amounts of BTC. I am not against BTC at all, but I am actually holding over 24 different coins now and it is helping me get 1 BTC every now and then :) it is just the multiple factor is the most effective here in Crypto world.
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Gold is in a downward trend, and will be a while, because people want bitcoin in their vaults instead.
Ripple will rip you off, I'm sure of it.
https://steemit.com/ripple/@thedolphin/xrp-explained-for-bitcoiners
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give this man a medal
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100% agree with your thinking.
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