The Ripple (XRP) thread

[Choppie81]

So if XRP does what we want it to do and you want to cash out on something like R1mil... where would you cash out? Is Altcointrader good for that? Just asking because my zerps are lying on the Altcointrader exchange. Don’t know if I should tranfer them into the wallet they provide there under the deposit tab... especially if I’m going to hodl...

 

[phant1m]

waiting for the correction hopefully and then can jump on again. right now doesnt seem to be moving with that coinbase news.

 

[saor]

So if XRP does what we want it to do and you want to cash out on something like R1mil... where would you cash out? Is Altcointrader good for that? Just asking because my zerps are lying on the Altcointrader exchange. Don’t know if I should tranfer them into the wallet they provide there under the deposit tab... especially if I’m going to hodl...

Usual suggestion is to keep coins you're not actively trading in your own private wallet. If an exchange goes down and your coins are there - you might never see them again. I also get lazy about this sometimes.

 

[Kloofvreter]

waiting for the correction hopefully and then can jump on again. right now doesnt seem to be moving with that coinbase news.

What exact is a correction? I could never really understand that. And what makes you think there will be one?

 

[Kloofvreter]

So if XRP does what we want it to do and you want to cash out on something like R1mil... where would you cash out? Is Altcointrader good for that? Just asking because my zerps are lying on the Altcointrader exchange. Don’t know if I should tranfer them into the wallet they provide there under the deposit tab... especially if I’m going to hodl...

They are apparently good for that if you are verified.

 

[Syphonx]

What exact is a correction? I could never really understand that. And what makes you think there will be one?

If you see a big increase in price over a short period there is usually always a drop in price once it peaks, usually the drop is nowhere near in size compared to the increase but can still be 20-30%. Usually its people cashing out their profits.

 

[naeem]

So if XRP does what we want it to do and you want to cash out on something like R1mil... where would you cash out? Is Altcointrader good for that? Just asking because my zerps are lying on the Altcointrader exchange. Don’t know if I should tranfer them into the wallet they provide there under the deposit tab... especially if I’m going to hodl...

if its long term, keep it in your own wallet.

If you want to cash out, what i'd do is.

1) send your XRP to an exchange where u bought it from
2) exchange it to BTC
3) send BTC to your Luno.com wallet
4) sell BTC on luno exchange and score a 7 to 15% premium
5) withdraw from luno to your za account

*optional 6) pay uncle sars their pound of flesh

ps, not sure how altcointrader handles withdrawels - i havent used their services

 

[backstreetboy]

if its long term, keep it in your own wallet.

If you want to cash out, what i'd do is.

1) send your XRP to an exchange where u bought it from
2) exchange it to BTC
3) send BTC to your Luno.com wallet
4) sell BTC on luno exchange and score a 7 to 15% premium
5) withdraw from luno to your za account

*optional 6) pay uncle sars their pound of flesh

ps, not sure how altcointrader handles withdrawels - i havent used their services

Same day withdrawal.

 

[Kloofvreter]

If you see a big increase in price over a short period there is usually always a drop in price once it peaks, usually the drop is nowhere near in size compared to the increase but can still be 20-30%. Usually its people cashing out their profits.

Yeah, that's what I figured. Thanks for confirming. So people are still anticipating a drop, even though it came down from R46 and has now been in the mid to high 30s for a few days?

 

[Syphonx]

Yeah, that's what I figured. Thanks for confirming. So people are still anticipating a drop, even though it came down from R46 and has now been in the mid to high 30s for a few days?

On reddit not really, many are expecting another run, its based on previous performance but I'll definitely hold for now, I can see $5 in the next few months:
https://imgur.com/3aWyM5I
https://imgur.com/a/1h7nd

 

[Choppie81]

Usual suggestion is to keep coins you're not actively trading in your own private wallet. If an exchange goes down and your coins are there - you might never see them again. I also get lazy about this sometimes.

They are apparently good for that if you are verified.

if its long term, keep it in your own wallet.

If you want to cash out, what i'd do is.

1) send your XRP to an exchange where u bought it from
2) exchange it to BTC
3) send BTC to your Luno.com wallet
4) sell BTC on luno exchange and score a 7 to 15% premium
5) withdraw from luno to your za account

*optional 6) pay uncle sars their pound of flesh

ps, not sure how altcointrader handles withdrawels - i havent used their services

Thanks for the replies... moving to a wallet seems to be the best option then.

 

[Choppie81]

waiting for the correction hopefully and then can jump on again. right now doesnt seem to be moving with that coinbase news.

I think the correction has already settled... Japan exchange listing it on 11 Jan so you might see a quick increase there.

 

[Kloofvreter]

I think the correction has already settled... Japan exchange listing it on 11 Jan so you might see a quick increase there.

Yeah, it's been in the mid R30's for quite a while now, so much to that it's becoming boring

 

[Choppie81]

CMC just excluded Korea from the average price... dropped from $3,30 to $2,60 instantly and XRP moved back to #3 spot... hope this doesn’t start a panic sell.

 

[Kloofvreter]

CMC just excluded Korea from the average price... dropped from $3,30 to $2,60 instantly and XRP moved back to #3 spot... hope this doesn’t start a panic sell.

An average day for crypto it seems

 

[Choppie81]

A good entry point for those still thinking to get in

 

[Tman*]

Been doing a lot of reading up on XRP. I am certain there is money to be made, but doesn't this coin go against what crypto is there to do in the 1st place?

Not decentralised, banks control majority stake in coin?

Please correct me if I am wrong.

 

[Kloofvreter]

Been doing a lot of reading up on XRP. I am certain there is money to be made, but doesn't this coin go against what crypto is there to do in the 1st place?

Not decentralised, banks control majority stake in coin?

Please correct me if I am wrong.

In your understanding, what is crypto there do do? (serious question, not sarcastic )

 

[Tman*]

In your understanding, what is crypto there do do? (serious question, not sarcastic )

In my own understanding BTC was created as a decentralised digital currency, basically giving power back to "the people" by not having 1 single entity controlling it? There is an argument that BTC is not being used as its intended purpose anymore, but getting back to XRP, I feel that we back to square 1?

 

[Kloofvreter]

In my own understanding BTC was created as a decentralised digital currency, basically giving power back to "the people" by not having 1 single entity controlling it? There is an argument that BTC is not being used as its intended purpose anymore, but getting back to XRP, I feel that we back to square 1?

Perhaps BTC (and a few others) were created with that purpose in mind, but does a crypto have to fulfill those requirements, especially about being decentralized?