When this happens do you get locked in at the price the date of transaction or the price it finally goes through?
Think they are referring to transferring BTC from one exchange to another. To answer what I think you're asking -- when people market buy a coin from Coinbase with a bank account, the price is locked in but you are not able to sell or transfer the coin for so many days.
And if I’m using BTC to purchase let’s say IOTA on Binance, is the IOTA bought with the initial transaction (BTC immediately exchanged for IOTA) or does the BTC need to be deposited first into Binance and then purchased as a separate transaction? Sorry if that was confusing.
Little confused but I'll do my best. To purchase IOTA with funds (Bitcoin) from Coinbase (for example): FROM: Coinbase BTC wallet --> 1 BTC transferred --> TO: Binance BTC Wallet Once transfer confirms, 1 BTC will be available in your Binance Wallet, and you can use that 1 BTC to instantly trade for IOTA.
I think XVG is supposed to release that wraith thingy or whatever that is this month? No idea what that is, but buy the rumor pump? I think the biggest thing to speculate on rn is the CoinBase additions. Those will instantly rise massively.
Theyll probably add about 5 over the course of 2018. We know 99.99% that BCH will be one of them. Guessing Dash will be one. Would personally like to see Vertcoin, NEO, Golem, and Ripple on there as well, for selfish reasons.
The more I read about XRP, the more interested I am. @Yung-T, I know you mentioned that Ripple doesnt need XRP to be successful, which is true....but their success can be greatly heightened with XRP being involved and used by banks. XRP is integral to having the entire thing work as efficiently as possible. I read that its about 50% cheaper when used with XRP, or something along those lines. It also becomes more scalable with XRP. Therefore, Ripple Connect can work fine without XRP, but there is no reason to exclude XRP in the process, given XRP's transaction times, high liquidity, and low fees. It would essentially be like choosing to drive a car from California to Florida when you can just buy a plane ticket...It would be faster and less expensive taking the plane (XRP). The other thing I like about it is that if governments start placing regulations on crypto, XRP seems to be as compliant as possible, given the fact that the purpose is to serve and help banks. There is no threat to any entitiy...unlike other cryptos. The partnership with Amex was a big one...and if it gets added to Coinbase, that'll just create more awareness and demand. Following @joelkatz on Twitter or sjoelkatz on Reddit...he's the Chief Cryptographer at Ripple. He's got some solid info about Ripple and XRP. Here is one of the things he has mentioned: 1) Ripple will be used for lots of international payments 2) There will come to be one or more intermediary assets to focus liquidity. 3) Those assets will largely be digital assets, not fiat currency. 4) XRP is uniquely positioned to claim a large share of that market. 5) Companies that make lots of payments will have strong incentives to hold significant quantities of whatever asset becomes the intermediary asset. So, Ripple can succeed without XRP....but they will be much better off with XRP adoption, and there is no reason for them not to make a strong push for XRP, as their whole product will only be better with XRP inclusion. In any case, would just be nice for Coinbase to play along.
Not that easy and I really hope you don't rely on joel or the r****ded Ripple subreddit that has things like "100$ soon" on the frontpage with 99% upvotes, completely hiding the marketcap implications from naive newcomers. That subreddit is as misleading as it gets and 99.9% consists of dreamers and shills that will tell you about Lambos and mansions. I'm not sure whether you followed the Ripple Swell conference, but you really should rewatch some of the videos and see what the heads from Ripple's partnerbanks were saying. There was an unanimous sentiment of banks believing in the blockchain nature of handling banking transactions, but every.single.speaker said they see ZERO need in adopting crypto or XRP for that, as it is for example volatile, not regulated, not backed worldwide, simply not necessary because of fiat etc What the XRP subreddit will also hide from you is that XRP is simply not necessary as an intermediary asset, every fiat or crypto will do just as fine and the transaction fees you save by using XRP are extremely small. Also, many of the world's largest banks are working at blockchain technology of their own and already collaborating on that, it's simply not true that Ripple is a unique solution that everyone will need to jump on. Banks don't like volatiltiy and also want a close relation to the assets they're using, you can check many statements from head of banks and analysts who are saying they are looknig into developing their own crypto and network because they don't want to rely on something that isn't in their hands. When that happens, it is a much better prospect that using a token that isn't under their control and also heavily influenced by the market and pump&dumpin investors. I looked up and found the conference, please listen and then ask yourself whether banks will really adopt XRP. The statements are as brutal and honest as it gets and should tell you that the XRP hype is absolute rubbish and artificially spread by people that want to become rich. Not sure I linked it right, the specific crypto question starts at 31:30. Here's an article for you that covers both sides and touches on the important difference between Ripple and XRP: https://multicoin.capital/2017/08/31/xrp2017/
Just to be clear: Not anyhow saying XRP won't do nice in 2018, but you are much better off just seeing it as a short-term investment that is going nowhere long-term and won't be really utilized.
I would like to retouch on a couple subjects Tax/Trading purposes; You should be tracking: (primarily for those on Biance/Bittrex) -Currency Exchanged -Amount -Date and Exact Time -Exchange traded -Wallet Address from and Wallet Address to -Fiat price of that exchange; If there is no fiat on that exchange, reference 3-5 other sites (Coinmarketcap, GDAX, Kracken). If there are no other sites, convert using Ethereum and Bitcoin and reference those exchanges. Just do not use exchanges you're not signed up for. The key here is if you keep your trading price for each exchange/site, you can pick which one gives you the best tax implication at the end of the year.... as long as you're consistent. (Again, if you traded on an exchange that has USD, use that exchanges price 100% of the time). -Keep notes on why you made the trade. The important factor to understand is you do not want the tax man to have more information than you do. You dont have to share all this info with the tax man, but its better to have it if you need it. And understand there is a lot of money being thrown into Blockchain explorers. Do not do things for tax evasion purposes. They likely understand this better than most of you. Secondly, this IS a bubble and it will pop. If you have more money than you WANT to lose, you need to have an exit strategy. A couple factors to consider: -Market Cap. Its half a trillion right now. How high will it go? -There are those who are waiting for the 1 year mark to exit the game for tax implication reasons. -Who is investing? I expect to see a significant sell off from early investors starting March-June. We currently have futures trading set in. When we start to see an expansion of the financial market, we will be reaching the peak. Right now dumb money is fighting with each other. There are those who say its a good investment and others laughing because its a bubble. I still think there is room for more dumb money to be pumped in. Half a trillion is not a lot of money for a global bubble. If we get to 1 trillion, i will pull my principle. At 4 trillion I'll probably get out completely.
So I take it you think the whole market is a complete bubble with no future, or are you referring to a dotcom bubble where 99% die out and the rest still do well, but with a temporary price correction? I'm leaning towards #2 and multiple governments and even bigger banks are predicting that blockchain will dominate in the future, so not sure why you'd say we're reaching a peak at a measly 1trillion (unless you mean temporary like my 2nd scenario).
There is no doubt a future for blockchain. But yes, I am referring to the dotcom bubble when the vast majority of coins will crash and never recover. I dont think 1 trillion is the peak. I think that is when the suspicious and hesitant dumb money jumps in. Right now there is a lot of skepticism. When the dumb money and wall street jump in, pull your parachutes. i suspect that will be closer to 3-4 trillion in market cap. Market Cap is a little misleading IMO. There is a lot of wealth that has been lost and still being accountant for. How many millions of bitcoins have been lost due to cold storage in the early days?
Ah okay, yea I have the same sentiments. Always stressing that 99.9% of the products are generic trash riding on the btc wave and with zero future, so people have to be extremely careful when making choices. Would be careful with time and market size predictions though, so far all predictions have been terribly off.
