fanbois engaging in a shouting match, how typical

https://www.thestreet.com/investing/...rence-14619614

I don't know if you are agreeing with him or pointing out absurdity but:

please inform me which banks are XRP bagholders?

Paging @aggo to tear Ripple down

It's easy enough to look at the dates now. Just because it may have enough USD to cover all tether now, doesn't mean it did at the time of issuance. This is trivially easy to check.

Apparently doug polk has a 10k sweat. If BTC dips below 6k he owes 10k. It's currently hovering at 6100. Despite the bearish news there seems to be a ton of people tethering.

I don't think that is trivial when the exchange can't be trusted and enough wealthy people are involved that can point to dollar accounts that in reality would never have been used to cover tether if the whole scheme had failed. This is moot anyway because there is never going to be a full historical audit.

Tether is a real concern of mine. A tether collapse and associated Bitfinex fall out would result in a huge sell-off. We are yet to see a recent audit of their cash holdings - from memory their last posting of this was Sept. 2017. Given that the SEC has been sniffing all over them but is yet to act on it gives me some hope.

As for Ripple, I just don't get what people see in it. A nice idea, target the established financial services sector and make big profits as banks move over to blockchain. One problem and it's a big one. The banks are doing it themselves. When banks needed a secure messaging system, did they hire some tech savvy start up? No, SWIFT was created and this is owned by its members (banks mostly). How about when they needed to create a centralised settlement system for intra bank international FX payments? CLS was created, owned by the banks. Oh and CLS is developing its own blockchain with IBM, so why would any serious bank use Ripple when they can have their own blockchain?

Below 6200 today. So where's the next support level?

Banks don't need RXP to use the ripple network for settlement. It is already trialled by a couple of Australian and Asian banks. Ripple makes money as a consultant setting up the interfaces between the ripple network and the banks existing systems. It is a direct competitor to the IBM blockchain implementation.

I'm unsure what I would do if somebody made me convert BTC into either BCH or XRP. That would be a painfull decision.

I fail to see the decision process when you're forced to do something.

Choosing between BCH or XRP.

Ah. Bch all day. Only good thing Ripple ever did is let me go to their snoop dogg concert at Consensus last month.

For the first time ever, I kept several hundred USD worth of BTC in my Blockchain account. Within 72 hours we hit this massive downfall and I lost 20% of what I had sitting there. I literally had it in there 3 days. Is this ever going to stop falling like a rock or should I just cut my losses and take what I have left out now? It seems really, really shady to me that Korean and other Asian companies can just claim they were hacked and cause this kind of an effect.

I think you should diversify with some altcoins after some real altcoin crash you wont get hurt as much by some small 15/20% swings with btc.

Depends on which altcoins, if you think most are going to zero (as I do) then this is obviously a pretty terrible idea even after they "crash." Bitcoin is back to 40% of the total market, I'd be surprised if that percentage doesn't increase as the year continues.

Don’t the altcoins mostly track BTC? If Bitcoin crashes, I have a hard time believing all the marks will rush out to buy potcoins or whatever.

Man I can't contemplate what losing the $6000 level would do to the market's confidence.

Where you guys see the entry sub-$6000? Was thinking $4000ish for a bounce.

big rebound on everything on this SEC news

That was a joke

guesses on a new lower high?
7,700 - 8,000 looks doable

Mcafee said 15k soon

Book it!

Thanks sec. Was about to be broke af. Now im rich!

But I've read that I'd the sec had gone the other way we would be ****ed today.

China cracked down a lot on power deals miners were getting direct from the power producers. A ton of hashpower is moving out of China as we speak, would be surprised if even a majority is there now. Canada is a hot spot now.

If you are going to get spooked by 20% losses, sell now and never look at BTC again. You are guaranteed to be a losing trader with this kind of strategy.