RIPPLE’S TULIP BUBBLE: May It Rest In Peace….

Unfortunately for crypto investors “HODLING” onto Ripple, their huge gains have been wiped out in just the past few weeks.  While Ripple’s price surged to massive percentage gains in a short period, it came down just as fast.  Unbelievably, Ripple’s price surged from less than a penny in March 2017 to a peak of $2.81 on Jan 1st, 2018.

Ripple’s stunning price increase would have made investors during Holland’s 17th Century Tulip Bubble, quite envious.  Ripple’s price increased a staggering 46,700% in a mere nine months:

Ripple was trading at $0.006 at the beginning of March 2017 and then shot up to a peak of $2.81 on Jan 1st.  An investor who placed a $100 bet on Ripple at that time, would have earned $47,000 if they were able to cash out at the top.  Not bad.  However, I doubt most individuals cashed out near the top… maybe a few.

Unfortunately, there is this idea put forth by many Crypto Aficionados that holding, or “HODLING” onto Bitcoin and the Cryptos for a long period is the way to go.  I have even seen some of these crypto aficionados record videos of themselves, wearing hats that say, “HODL,” telling their followers to hold onto their cryptos for much more significant gains in the future.

One of the more highly touted crypto aficionados in the alternative media is claiming that the new target price for Bitcoin is $13,888.  While anything is possible in the future, as Bitcoin’s price continues to head lower, down to its next stop at $6,500, the $13,888 Bitcoin price target by the end of February seems less and less likely.

Okay… now that I said that I want to make something perfectly clear.  I had a much different opinion of Bitcoin and the Crypto markets last year.  It wasn’t until I began to witness the tremendous amount of fraud, corruption, and leverage in the crypto market did I change my mind.  Regardless, I believe the SELLOFF in the Crypto Market will continue until the Bubble has popped for good.

Today, Ripple’s price was down another 20% at the lows:

While it may be unpleasant for crypto investors to read my negative opinion about the market, I have to provide the information as I see it.  Even though there is a chance Bitcoin and the Crypto prices will move higher and see some nice percentage gains for a while, if I were holding onto Bitcoin, I would certainly CONSIDER cashing out on price gains, rather than waiting for Bitcoin to reach $100,000.  Please understand, I am not giving out any investment advice, just sharing what I would do.

Currently, Ripple is trading at $.70, down 75% from its high of $2.81.  While investors who purchased Ripple for a few pennies are still sitting on nice gains… they are still SITTING on gains.   You don’t enjoy profits until you cash out.

I will end this brief post by stating the following:  When the CryptoMarket finally capitulates, the alternative media community can finally get back to focusing on GOLD & SILVER… the true stores of wealth.

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64 Comments on "RIPPLE’S TULIP BUBBLE: May It Rest In Peace…."

  1. At least you get a tulip out of a tulip bulb. Crypto days seem over. Maybe another run up, but with diminishing returns.

    • houtskool,

      You’re a real HOOT. “At least you get a tulip out of a tulip bulb”, you say… gosh I got a real laugh out of that one.

      steve

      • BTW you still not explained the reasons on your U turn : indeed fraud and leverage does not necessarly mean the underlying assets is “bad” in tour opinion as there are some fraud and leverage in the comex which sets the price for physical gold and silver ?

        • RD,

          Unfortunately, I can’t get into the details now, but they are much worse than investors realize.

          steve

          • Sorry for my poor english, I meant ou only dismissed cryptos because of frauds and leverage OR also because of some other fundamentals analysis ?

  2. Michael Kohlhaas | February 5, 2018 at 11:48 am | Reply

    Total market capitalization of all cryptocurrencies at the beginning of the year: >$820B. Now a month later: <$340B. But does anybody think you can even withdraw the smaller amount of $340B from the cryptocurrency exchanges? This is a scam, a fraud, still a bubble.

    • Bix Weir: “Sell Your Gold And Buy As Many Cryptos As You Can”.

      • Bix Weir has gone out on a full-blown campaign to save his image. Just YouTube any subject with Bix Weir and he will have put up videos to head off any opposition. He also blocks out any comments. Same for Google. A bit paranoid, ya might think?

        • slvrwllwn,

          Yes, I have seen Bix pull out all the stops. However, he will only continue to sabotage himself if he keeps wearing that HODL hat in every video.

          steve

        • Harry Dent is much more credible than Bix. Dent has revised his opinions about gold and quantitative easing, based on his collected data. Bix has not and will not revise anything he stated. He will stand firm on his rock of conviction no matter how gigantic the tsunami before him.

    • I wonder if the weasel Andy Hoffman got wiped out in Bitcoin?

      • Do not think so as all cryptos are still very high, we need 90% drawdowns in order to get the people out of these.
        One more time as soon as these articles are issued, cryptos are gaining 50% in a matter of hours if no more.

      • Michael Kohlhaas | February 7, 2018 at 4:55 am | Reply

        Look at Andy Hoffman. He lost a lot of weight. His clothes don’t fit anymore. I feel sorry for that little weasel.

        • He must be very well as cryptos made a 50% jump back in 48 hours.
          Do not forget jim willie put another buy reco on silver : it is so crashing…

  3. DisappearingCulture | February 5, 2018 at 12:39 pm | Reply

    I am not being flippant when I ask what exactly does one own when they own a cryptocurrency? Nothing against them; just don’t know what you own other than a valuation.

    • Michael Kohlhaas | February 5, 2018 at 1:26 pm | Reply

      Maybe you are the owner of a certain combination of prime numbers? 😉

    • Why does Steve continue to talk about Ripple? It is the banksters scam centralized “crypto”. Anyone in crypto more than a month knows this. Ripple targets the suckers and the profit-seekers. I’ve been into crypto since 2014. A good rule of thumb is to cash out your initial investment (into gold, whatever) after you’ve made healthy gains so that everything thereafter is a free roll. But PM analysts like Steve & Chris Duane are against this mindset. What you own, when you choose to buy and transact in bitcoin, is a trustless, decentralized, immutable currency not controlled by a lying politician, a debt-based fiat currency, or a greedy bankster. It is a newly invented triple-entry accounting system that forces honesty in money in a digital online world. PMs are great, I own them. How do I buy anything on Amazon with my gold today? How can I buy a plane ticket to Australia with my gold? Can I carry my gold with me to Australia if I choose? Sure, up to $10,000 without claiming it. Bitcoin is a way to transact in all of the above items, and is portable and borderless unlike gold. What value do we place on an honest money with these features? Today it is $6k, 6 weeks ago it was $18k, tomorrow it might be $3k or $13k. Whatever the USD price, these features still have a non-zero value, and as a deflationary currency will always be scarce and in demand. The more corrupt governments become, the more bitcoin will increase in value. Is there fraud within the centralized exchanges? Perhaps. I’ve never had a problem withdrawing tens of thousands of dollars in or out of the reliable exchanges. But that is also why you shouldn’t store your wealth with centralized entities. If one has already cashed out their initial investment, and is playing risk-free, why not HODL on the dips? Good try Steve, I’m not selling. If I were only into crypto for fiat $$$ profits I would have sold bitcoin over a year ago at $2,500 for 4x profits. Sure glad I didn’t do that.

      • I totally agree!

      • Blockchain yes, crypto currency no. How does an accounting system as you described it somehow come with an embedded currency, with very volatile value? I preferred the gold standard but understand how government backed currencies work. In the US, merchants must accept dollars. No one can force anyone to accept a crypto. Currently they are an asset class because of the interest but I would rather hold valuable almost everywhere PM coins than a USB stick. What a bag to hold for anyone who bought weeks ago. The dollar has eroded over 90% of its value since 1971 but how do you compare that no matter how messed up Ponzi dilution currency is to the cliff dive from the Bitcoin high to the current value. People who bought the high must be feeling sick now.

        • Making a statement like: “blockchain yes, crypto currency no” just shows you don’t understand how crypto works. You can’t separate the two. You can merely adjust the settings, like block size, avg block time, dynamic blocks, consensus algorithm type, Z-Snark privacy features etc. This is why there is more than simply bitcoin, because some people prefer very fast transactions, other prefer the most secure network even if it costs more and is slower. Others value privacy over all other features. Hence there is no one crypto to rule them all – there is merely the original: bitcoin which has the largest network effects. The fact that crypto is voluntary is exactly the reason we crypto enthusiasts like it. We reward merchants who offer crypto payment options. We prefer choice over force. Shouldn’t you? For someone who bought north of $15k bitcoin, I would simply tell them to wait 3-6 months and remind yourself why you got into it in the first place. Bitcoin has 30% or larger crashes at least once a quarter and has come back to newer highs EVERY single time. Is it possible that this was the last time? Sure. But worldwide adoption of crypto is under 3%. If we get to 12.5% bitcoin will be in the $100k+ range easily. It is only AFTER you have mass adoption that volatility slows down. I hold PMs & crypto. Smartest move I ever made. I don’t trust fiat as we all know where that is headed. Do we know who will “win” between PMs & crypto? Some like Steve claim to know. The reality is he can’t know, it isn’t possible. He believes. Well I hedge. The proof is in the results.

          • “For someone who bought north of $15k bitcoin, I would simply tell them to wait 3-6 months and remind yourself why you got into it in the first place.”

            They got into it because of greed and non-sense spread by pumpers like yourself, Bix Weir, and others. Yes, they should definitely remind themselves of that as the cryptos go down, down, and then down some more.

            Just like with all MLM or ponzi schemes, the early speculators make good cash while the latecomers are the suckers. Oh, sorry, not suckers… adopters, that’s the PC word of the day, right?

            Steve believes global adoption of cryptos won’t be happening because of the falling EROI. You believe that there will be such an adoption. Logic sides with Steve on this one. You simply sidestep this problem because you don’t care about any of it. What you care about is your personal gain, no matter that it comes out of the pockets of others that you have duped into joining the ponzi.

            You have been just lucky for once in your life to jump into a ponzi early enough to make money off it. Good for you. Other than that everything else you keep telling yourself and others about the cryptos is pure BS.

            All this crypto craze beautifully displays the characters of people. Some people, like you, say that getting others to join a ponzi scheme is great. And those who bought in high should just HODL on because any day now bitcoin will rise again. And if it turns out that the ponzi stopped working, well, then the dumbasses shouldn’t have bought high! Genius!!

            Most murderers say that killing people is OK, as long as you don’t get caught. Plus, the dumbass victims should have shot first, if they didn’t want to get shot. It’s really the victims fault that they are weak and stupid.

          • @ Peter

            This is what we call bitter, envy & greed. No argument is made. He merely assigns motives to me that are plain evil and then compares me to a murderer? Seriously Peter, you are triggered beyond belief. I have provided evidence and reason for my decisions, and you go off on emotional rants like a middle school girl.
            You do not understand the definition of a Ponzi scheme yet you continue to use the word. Repeating something over and over doesn’t make it true. BitConnect was a ponzi, because it paid old investors returns with new investor money. Bitcoin does not promise any returns. If people buy more than they sell, the price rises. If they sell more than buy it goes down. Just like any other commodity or good. Please educate yourself, so you don’t appear delusional and paranoid.
            Bitcoin has been in existence since 2009. There have only been 27 total days in the existence of bitcoin that is has been over $15,000 in price. So if a new investor chose to buy the top during one of those 27 days, then my advice still holds. Look at the last several drops in price of 30% or more. Bitcoin has always made a comeback. That is why I always tell people… NEVER INVEST MORE THAN YOU CAN AFFORD TO LOSE. If Steve were really, really concerned about EROI such that our economy is going to grind to a halt, his advice wouldn’t be buy gold. It would be to buy a farm, buy stored food for 3-5 years, and buy guns and ammo, and then bring in 15-20 people (family & friends) to work the farm and provide security for the inevitable total collapse of society. Once he starts giving that advice, I will take him a bit more seriously about this EROI issue.

          • SD,

            Little do you know? By the way, I live on five acres in the country with goats, chickens, organic garden and small orchard. I left the big city in 2007 because I knew the CRASH was coming. However, I underestimated what the Central Banks could do to prop up the market, or as Charles Hugh Smith calls, the 9-Year DEAD CAT BOUNCE.

            So, I do as I preach. Now, I can only buy so much Bulk food, ammo, or weapons and etc. So, if one has all the necessities covered, it is wise to store one’s SURPLUS WEALTH in GOLD & SILVER.

            However, SD…. if you want to continue in the Greatest Crypto Tulip Mania in history… be my guest. I don’t mind. I just provide analysis for those individuals who haven’t been too impacted by the spreading of BRAIN DAMAGE in our country.

            Steve

          • @ Steve,

            I highly respect your decision to live on a farm in the country like that, it is a good call. Some of us don’t have that luxury. Being in the military I move around every 2 years and don’t have a choice to just get some land in one location and start a hobby farm. When I retire in 5 years though that may be an outstanding option. I have plenty of PMs, and my crypto stack will help me to purchase the property. Don’t take my security comment lightly though. If/when the hunger pains strike Americans by the millions, the unprepared will come for the well prepared by the droves – and they won’t care about the rule of law. You’ll need good neighbors and good security when that time comes. Maybe I’ll have to buy a plot down the street and we can talk PMs, crypto & farming. Do I still have 5 years before the collapse?

            P.S. I really wish you would accept crypto for donations to your website. I will not become a Patron supporter if I need to use a credit card but I would be happy to donate some crypto to you.

  4. Now let’s hope the likes of GLP and the other trolls will go bury themselves for good.

    • Troll? I’m flattered. Actually I have a lot of physical PM’s. I only sold my pm stocks. Since I bought my cryptos so early I still have a very good profit. How is your gold and silver doing? Answer: Being kept just above the mining cost. I have all my original money out of my crypto position (which I bought a few years ago) and have very nice profit. I guess you can just suck your thumb and wait for the end or live life and make money. I vote for the latter. See you in July when the cryptos have been destroyed, At least that is what the prophet said.

  5. Good one. Ripple is not alone. Wolf Richter did a piece today on the crypto crash.

    https://wolfstreet.com/2018/02/05/largest-cryptocurrencies-plunge-50-80-372-bn-gone-in-1-month-will-it-hit-the-economy/

    SteveW

  6. If bitcoin is worth anything, my wife thought someone would buy her Minecraft house. At least you can actually see it on screen.w

  7. Cryptoes are really for fools.People never learn .Greed will get the best of the fools, put their hard earned money into something ,that have no control over.There were a few hacks ,were people lost all their money, i mean 100″s of millions of dollars, yet more people poured a lot more money into the crypto coins.Well done ,fools get what they deserve .

  8. If you speculate and increase your wealth then there is nothing wrong with profit and playing with speculation. Obviously true money has intrinsic value that people need or desire. Gold and silver are rare and used to make expensive products and since they are depleting as mining concentrations get lower then the value will have to increase in the future. Gold and silver and other rare metals used in products are all good to hold especially when fuel will also deplete sooner or later.

  9. I for one invested £400 in bitcoin a good while ago and have spent around £20000 in the last 2 years from my profit . I still have around £15000 in crypto from my initial investment , if that goes to ‘0’ then I am still hugely in profit and have acquired kg’s of silver in the process . Sit on the sidelines and tell yourself I’m stupid and pray for the crypto’s to collapse. If I had spent £400 on silver I would still have £400 worth of silver. But as I ignored all of the FUD I have tripled my silver holdings subsidized my income and been on lots of holidays.;-)

    • luck vs intelligence | February 6, 2018 at 4:45 am | Reply

      yeah yeah yeah, you got lucky on a speculative ultra hyped fraud.

      trying telling your story to those who bought in at $20k.

      no matter what the current pumped up trading value is right now THEY ARE WORTH ZERO.

      • I can only assume that the Perth Mint is full of raving lunatics (considring issuing gold backed blockchain tokens ) Luck ? What idiot buys at all time highs.Buy low sell high.Not luck,logic.That is why I am still profiting during the crashing market.I could cash out now and buy 30 kg’s of silver. But I have run out of places to keep it.(bitgild.com) saves having to turn crypto into ponzi tokens to buy bullion if anyone is interested. You just keep screaming at the sky

      • If bitcoin is worth zero, how am I able to acquire 6 ounces of gold for one bitcoin as I type this? You should really educate yourself before making ignorant comments. What do you tell people who bought gold at $1,900 about 7 years ago? Keep holding tight, it’ll come back in another 5 years? They’ve only been underwater forever. You don’t buy gold for fiat USD profits and you ought not buy bitcoin for the same reason. Nobody should put more than they can afford to lose in crypto. If you mortgaged your house to buy gold or bitcoin then you are dim-witted. So if somebody bought 0.1 BTC at $20k ($2,000), then I’d tell them to hold for 6 months and see where we are at then. Better than telling them to hold for a decade with their gold.

        • DisappearingCulture | February 7, 2018 at 2:45 pm | Reply

          SD,
          Thanks for your perspective/education on bitcoin.

        • BTC is like paper gold. Empty promises. The world economy is in reverse. This will wipe out all promises. It all works until you open your hand and see there’s nothing in it. No bread for you. We’re not there yet, but the fat lady is warming up. When she starts singing, bits and bytes will dissapear at the speed of light.

  10. Current bitcoin chart log scale:
    https://coinmarketcap.com/currencies/bitcoin/
    Shows recent mkt deep inline with historic action.

  11. Steve, I still need some clarification on the US independent oil producers. The MSM keeps bragging about how successful these “frackers” are, and that they are making us the worlds leader in the production and export of oil. You, on the other hand, have repeatedly said that the entire American independent oil producers are losing major dollars for every barrel of oil they produce. I believe you are correct, and you have given evidence for your assessment. Forgive my ignorance, but can you again give me source information to validate your conclusion that these independent oil producers are going to bring their investors to financial ruin. Thank you so much for your candid information.

  12. Front running stocks on electronic markets, is that corrupt? Suppressing gold and silver on the London Fix, is that corrupt?Adding nonperforming fracking bonds to the 401k’s of everyday people, is that corrupt? Please show any market that is free of corruption. Some people in the PM community recognized SOME similarities in Bitcoin that attracted them to gold and silver. I still actively add to my gold and silver holdings, in fact when I got my Bcash dividend I cashed out and bought a good amount of silver. I simply don’t understand the inordinate hostility when people are just trying something different. Obviously, I wouldn’t put money in ANY investment (including silver and gold) that I couldn’t afford to loose.

  13. Yawn…
    Another obituary. It’ll be joining the rest of them on the “I just don’t get it” pile.

  14. Minerstocks deeper and deeper.Looks not good for silver and gold.

  15. What puzzles me is that you need to “spend” (I mean to destroy) 3000$ worth of electricity just to mine one BTC. A huge amount of energy that is being evaporated while we could produce materials, food, etc. with it.
    At least when one ounce of physical gold or silver is mined, it allows to produce something that “exists”, is beautiful, and can be used for jewels, electronics, bacteriology, etc. as well as for … wealth storage!
    Crypto’s (actually the blockchain concept of decentralisation) will be useful once they become widely accepted for payments, also once cheap enough to produce crypto’s (not requiring huge mining costs) will be established and finally when volatility is off.
    And regarding this last point of volatility, ideally a “good” crypto would be one backed by silver or gold. I mean one really backed, with PM’s redeemable. A dream…

  16. Steve, did you see this story from BitMex (one of the largest bitcoin exchanges) about Ripple? Ripple is a centralized scam coin and you keep touting it as an example of a crypto currency but it is not. If you want to stay credible while talking about crypto, you ought to stick with the likes of bitcoin, ethereum, XMR, NEO, and others. Not Ripple.

    Ripple Story here: https://blog.bitmex.com/the-ripple-story/

  17. Another epic fail by another ignorant anti-crypto fool! People like you have been saying this same warn out garbage for 9 years and you guys have been wrong every single time! What makes you think you will be right this time?
    What is your reason for bashing cryptos so hard and so foolishly? Jealousy and envy are horrible emotions…. probably the worst.
    Right now is a great opportunity to get in. What the hell are you waiting for? Download an exodus wallet at Exodus.io, go to Localbitcoins.com, find a bitcoin seller in your area. Once you give them your fiat they will send your bitcoin to your exodus wallet and from that wallet you can trade with 30 different cryptos.
    I hope you take my advise but I’m not holding my breath.

    • Jamie Fagan,

      While I appreciate new members leaving comments on the blog, your assumption that I am another IGNORANT ANTI-CRYPTO FOOL reveals that you have no idea of what is taking place in the crypto markets. You are more than welcome to your opinion, as is a Mob who Hangs someone who turns out to be innocent, but time will tell who is IGNORANT and who is not.

      steve

      • Steve, I have lived and breathed cryptos for 14 months. I have studied every day of that 14 months, sometimes 12 hours in one day! So, saying that I don’t know what is taking place in the crypto market is yet another ignorant comment.

        • Jamie Fagan,

          Have you started your own ICO? Have you listed your own Token on exchanges? Have you seen the tremendous amount of corruption, fraud, and leverage in the Crypto Markets? No, if you did, you wouldn’t need to spend 12 hours a day for 14 months to see it.

          Your statement proves to me that you have no idea the TRUE NATURE of the Crypto Markets. But, again… you are free to your opinion.

          steve

          • Of course there is fraud and corruption. Let me ask you this: is there fraud and corruption in the US dollar markets? It’s laughable that you complain about fraud and corruption in the crypto markets when same is happening and has been happening for decades in the all markets that are in fiat.

            As far as leverage goes, does the comex have any leverage in the commodities markets? Again, laughable.

            It’s fascinating to me that the people who continuously bash cryptos many times use the beneficial characteristics of the cryptos to bash them. For instance: you probably think that the fact that there are over 2000 different cryptocurrencies is a bad thing? Is what many people don’t understand is that this is a sign of a truly free market. It’s just that it’s been so long since we have seen a truly free market we forget what they look like.

            Between 1870 and 1900 there were over 1000 car manufacturers. How many are there now?

            This technology is brand new and there are dozens of variables as to how it will play out. But one thing is certain and that is that cryptos are here to stay the sooner you get on board the better it will be for you ad your subs.

          • Jamie Fagan,

            This is my last comment, but please feel free to waste your time leaving dozens more.

            Get back to me in 6-12 months.

            steve

          • As I said before he made money period so he was right. There is only one value in capitalism : how much. Period. He should sell all his cryptos and retire whatever his age.

  18. I cannot believe the percentage of over the top ignorant butt hurt posts here, expecially and including Steve’s article.

    I invested around $100000 in Cryptos a little over 1 year ago and I am still a crypto million even with the recent 50% smack down that is in the process of recovery as I write. I have bought more gold and silver with a tiny bit of my crypto profits than I have space to put it all.

    You guys you sit here day after day bashing cryptos sound exactly like the libtards who can’t get over the fact that their Witch lost the election!

    Get over it guys. Buy some now! It still ain’t too late!

  19. Cryptos are here to stay and those who don’t get on board now will be forced to get on board when bitcoin is a 1 million. The Regulators embraced cryptos yesterday at the long awaited for hearing. The next bounce we see in cryptos is going to make all other bounces pale in comparison.

    The thing that pisses me off about gold/silver bugs like you (I’ve been one for 12 years and still consider myself one) is that that fail to grasp the evolutionary world changing technology that is cryptocurrencies is that you are effectively keeping your subs in the poor house so to speak.

    Like I said before, it’s still not too late to get in. Take my advise in my other comment. It is the best advise you have ever gotten.

    • Jamie Fagan,

      If you believe Bitcoin is going to $1 million, then you can join the BIX WEIR FAN CLUB and all the other pseudo crypto aficionados. You have no idea how much energy and investment money it would take to push Bitcoin to $1 million. And then there would be the $500 transaction fees.

      Gosh… I am surprised at the level of thinking by people today.

      steve

      • I just, one minute ago, sent a $500 Bitcoin Cash transaction for 1 penny! I’m in Alaska and it went to LA. The guy I sent it to got it 5 seconds after I sent it. Think about that for a minute. Hell, it could have been Austrailia or Zimbabwa.

    • You don’t understand that bitcoin is not the only Crypto. I mine crypto all day long but I mine Proof of Stake cryptos like Gobyte and Dash. Proof of Stake mining does not require ANY extra electricity than your computer normally uses. As opposed to Proof of Work (Bitcoin) which does require massive amounts of electricy.

      Dash, Bitcoin Cash, Litecoin have transaction fees a few pennies. I send all of them around to different wallets every day and the Bitcoin transaction fees are going down and they will probably come back down in line with the other coins. But if they don’t than just don’t use bitcoin for transactions, use another coin. This is not rocket science.

      Dude, man, you really need to sit down and study this stuff. You really don’t have a clue what you are talking about.

      • DisappearingCulture | February 7, 2018 at 3:01 pm | Reply

        “Dude, man, you really need to sit down and study this stuff. You really don’t have a clue what you are talking about.”

        Steve has studied it but has a different perspective.

        I don’t have the time/fiat to study or transact much right now. I get some of the appeal of transacting [other than the potential of buying low/selling higher]. I don’t think governments like competing currencies, and I’ll bet they will try to do something about it. And I bet it’s a lot more than some think they can do.

  20. I’m really not trying to sound arrogant or be an asshole but sometimes that is what people need. They need to be knocked in the head in order to see things from a different perspective.

    If you want to see things from an accurate and completely different perspective please go to YouTube and check out a guy named Andreas Antonopolous. He can explain Crypto like no one else. He’s been studying it every day for 9 years and he has been a computer geek since childhood. He knows what he is talking about.

  21. SD, well above, was right in his observation about the AMOUNT of money put into cryptos being the key…and that is why I bought Bitcoin Investment Trust (GBTC). It is the only way for the amateur at crypto (both individual and institutional) to get in immediately, hold it with no worries about the current legality of holding the asset and–for me this was HUGE–hold it in a Roth IRA that I use purely for speculation. I put a couple thousand in last fall, it climbed to a 200%+ gain in months and is still up more than any legit investment out there even AFTER the crash…and it’s holding its own now.

    With the 93:1 split of a week or two ago it is accessible to even the little man investor. If I hold it and lose three grand I’m fine. If I hold it and don’t look for a couple of years it may be worth $30,000 TAX-FREE. I used this same technique on a 3X leveraged silver fund several years ago and put a 25% cash down payment on my loft in a beach city with it, again TAX-FREE. That was as risky as HODL cryptos and it got me into a great home.

    So yes, BTC, HODL by all means. Just do it with an amount you still get sleep with.

    BTW I bought gold and silver in 1999 and have just HODL on those too…and it has worked out well. I plan on doing the same for crypto and we’ll see who has more discretionary income down the road. I already have enough guns/grub/gold, don’t need to pour more into those.

  22. Just want to clarify my comment above: I make absolutely NO CLAIMS that crypto will survive, let alone go to the moon. I look at every investment through the lens of “I don’t know all the facts, or how this is going to turn out.” So it all becomes risk/reward. Can I afford to lose the entire investment? What could go wrong? What could go right? Even if I win big, what are the risks of counterparty default?

    No one, including the moderator here or Satoshi, knows where this is going. It’s a global phenomenon and humanity, and those who claim to “lead” humanity, will sort out. But the risk/reward negatives of NOT being in it all is too great. If you’re wrong you have missed a twice in a lifetime opportunity. If you’re right, you have your few thousand in a depreciating fiat currency.

    How much analysis does it take to figure out the right call on those options?

  23. Ripple at 90 cents, 50% up compared with tuesday lows.
    Ripple obituary was premature to say the least…

    • Ripple at 1.15 USD
      Will have made 100% by sunday evening.
      This site is definitively the worst market foracsters as gartman…

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