RE: Crypto Meltdown Continues...
I think that the bch civil war is pretty self contained, unless SV wins and carries through with the threat to attack every other chain out of existence...
IMF head suggesting that governments should issue national first crypto is possible problem, and the crackdown on icos is really a problem (although, probably something that needs to be done!).
On Bitmex derivatives, long (betting on price rises) positions were getting liquidated heavily. That means that they didn't have the existing collateral to back up their leveraged positions... This led to a huge amount to force sells.
Lots of little things combining... Oh well, we ride it out! The money is locked away for me anyway, and I am not expecting anything out of it! So there it stays!
Interestingly enough, XRP is performing quite decently...
XRP was the first coin I purchased with fiat. I still have what I bought sitting in my Binance account. Too bad I bought at $2 ++ .... FOMO was strong :P
I know all about FOMO. I started with BTC. When it was worth 20x what I had paid for it, I should have cashed out. Instead, i went crypto-shopping, buying other promising coins. I think I have about 20 different ones in.my portfolio, because I was scared to pick the wrong one, and miss out on a lot of profits. So now I,'m stuck with 16 out of 20 cryptos that have lost more than half their value. I was lucky enough I had bought BTC when it was still below $1000, bought a big part of my ETH for $8 and Dash for $59 or so. XRP is the fourth one that is still green. Probably just good timing...
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Congrats on your success. I did something similar with UCASH. I managed to attain a bunch for free and sold during the second pump and dump for $1200 + profit. Thinking I was a crypto wizz after having success on my first attempt at crypto I decided to buy a bunch of different alt coins with my newly attained wealth. I still have most of those coins today due to there low monetary worth.
Lets hope we all win with Steem and Steem-Monsters !
Ouch, well... at least it is still trading at roughly 0.4USD or something like that... that's still better than a good chunk of the altcoin universe!
I still have faith it will bounce back. I haven't kept up with the news in regards to Ripple but I know some banks are using its services. When all the dust settles I am sure that Ripple will be one of the cryptos still standing.
I think the banks are using xCurrent which doesn't require XRP. From there, Ripple is hoping to switch them over onto xRapid which is the crypto product.
I knew it was something like that but I thought XRapid is what the banks are testing and XRP is the token in which we hope they will use once they decide to fully implement XRapid. I was apart of a Ripple forum months back and the last I remember hearing was banks such as The Royal Bank was testing its services. I am almost certain that Western Union has already fully implemented XRapid but again its been months since I did any research. I decided to just leave the coin in my wallet and forget about it until it bounces back.
Link to Royal Bank results : https://www.google.ca/search?q=roya+bank+test+xripple&rlz=1C1RLNS_enCA811CA811&oq=roya+bank+test+xripple&aqs=chrome..69i57.5278j0j7&sourceid=chrome&ie=UTF-8
Dang I just did a quick search and it looks like Western Union may not be pleased with their relationship with Ripple. Back to pretending like I am not holding any lol.
Haha... I think the news and shilling tend to just say Ripple and confuse the products alot... Although, there is progress with the xRapid, but the adoption is still much much much less than xCurrent.
I'm not one of the decentralisation zealots! I'm happy to have bought and held XRP, I still think that a meld of central/decentralisation is the way to go, at least in the short-medium term. The crypto market, even at it's peak is small fish compared to the established global system. You just don't fight giants, you co-opt them and then become one!
I noticed àhat XRP was doing a lot better than the others. \n\nThe rest of your comment is too technical for me to understand, but I think I've got the main idea :0)
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Yeah, XRP is holding out pretty well... even now (after a bit of drop in price). It might be the dark horse that pushes on through, even though there is a lot of hate for it in the crypto community!
Is there? I'm not really up-to-date about what's going on the crypto world. I should be, because I have quite a big portfolio, but SteemIt is taking up all my time ;0)