Thoughts on XRP?
First off, I’m not a highly educated investor. I do read a bit regarding stocks and crypto but I only have limited understanding at this point. Problem seems to be the old “opinions are like Aholes” saying regarding XRP’s future prospects. With the current trajectory of crypto, do you guys think XRP is worth a long term investment? I realize Bitcoin is the shiznit.
Thanks in advance.
I wouldn't touch any crypto other than bitcoin. What does XRP do? what is it's purpose? Does it matter if XRP is .00001 or 1.00. Didn't the original maker of XRP dump his coins? I doubt anyone can convince me that XRP's value is cheap and should be higher.
They're eating the Penguins, they're eating the seals...
-Originally Posted by boneil
Spot on.
The proponents for XRP have been saying for 10+ years that banks/lenders will start using it. Yet, I dont see it happening, when banks can just create their own 'token' and have complete control. XRP charts have been stagnant for years, only now getting attention from a bump with the SEC lawsuit getting throw out. (or something like that). XRP has a CEO, marketing team, development team, etc at the top running the show. This always makes me nervous as its happened WAY too often with these altcoins, where they take the money and run. Bitcoin has no handful of people calling the shots; but hundreds of thousands of miners running the code to reach consensus on any action. A handful of execs at the top can keep a secret to plan a rug-pull; hundreds of thousands of miners cannot. Meaning; Bitcoin is decentralized; where these altcoins all have a few puppet-masters pulling the strings.
Lookup the past 10 years and which 'coins' have been in the top 10 the past 10 years. Ultimately; the altcoins fall away when the hype is gone.
Last edited by motomania; 12-30-2024 at 12:30 PM.
Snake oil and for that matter - all crypto…
I was thinking about investing in XRP about 3 years ago and reluctantly didn't.
I believe I even asked here for some thoughts.
I never did invest and never since that day looked on how it performed.
I feel somewhat better when I just read, XRP has been stagnant for years.
I have a different opinion -- It could be something along with the other DeFi stuff out there. I dont see fiat paper being the path to success. Im all for gold, bitcoin, etc. But, i do think there is some value in XRP. Where that ends up, remains to be seen. I think it will take a while, like years, to get the infra in place so i hold it mostly(outside of what it is being used for currently), sell the rips and buy the dips.
The one thing that sticks out in my mind the most, is this: why, specifically, did XRP get sued by the SEC? I say that coming from the sense of there are many many many bad coins out there. why pick this particular one, out of all the crypto. others are doing very similar things. Maybe there will be other lawsuits -- who knows.
EDIT: Found a pretty good article about all the hubub which kind of takes you through the entire thing: https://cointelegraph.com/learn/arti...u-need-to-know
i think, that until, the SEC and other get together and develop the framework for what is allowed and/or not a lot of crypto is going to be in the same boat.
Last edited by caddyjoe77; 12-31-2024 at 04:11 PM. Reason: added link that I just found, thought it was helpful
I have a little Shib, Doge, Pepe,Bonk and XRP. I started with 70 dollars. I figured that was about the cost of going out to eat so I could stand to lose it. My first two was Shib and Doge. I started buying the dips and selling for a small profit. When it rolled back down I'd re buy. I'm over 500 now and I've added the others.
I have a stock portfolio that includes a Roth and a individual account. My Roth is mostly dividend stuff and my individual account is for growth. I'm not a trader. I'm not adverse to taking a profit but my stocks are mainly for my retirement. I'm in it for the long haul. The crypto lets me play around without risking much. If it goes bust I'm out 70 dollars.
My goal is to turn the 70 dollars into a 1955 chevy. If it happens eventually great, if it doesn't I'll keep trying to build it and find another way to get the 55. I'm 58 I'd like to really retire around 65.
1955 Chevy may be doable since they are bringing in a lot less than a 1957 Chevy 210.
interesting social media post today......
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