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I dont know much about cryptos but assume its getting a boost from the instability in bitcoin since everyone seems to think its going to burst soon. I'd be interested in it as a gamble but would get my initial investment back asap and then let the rest ride for a bit.** at 21:06, Brian joined the Lobby...
Brian Ta Das...
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In the middle of December, a work colleague chatted about cryptocurrencies on a boring nightshift. All I knew was what I read about Bitcoin, which he believed the horse had bolted on that one. He told me to look at Ripple which is different. Ripple actually was around before Bitcoin (2004) but lacked the technology to be feasible.There are no more to be 'mined'' and with Standard Chartered, Amex and other big financial institutions using them to transfer funds between themselves because of speed, it makes it more attractive than a lot of others. I didn't mortgage the house (like some people) to buy them, it was just 5K that I had sitting in a 'growth account (1.79%) I bought 4000 at 1.01 and another 1000 at 1.22. It is currently 3.22 and still rising. Like Brian said, I will sell off some to get my money back and then let the rest ride until retirement.
Dan: 25c wow! My colleague bought at 26c AUD late November.
Greeko: Thanks for that link. That is actually what I have been looking for, something at a quick glance.
It is no different to betting on horses, with the risk of losing it and it has to be surplus funds.
Happy New Year everyone
Norm"There's a fine line between winning and losing... it's called The Finish Line"
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I was going to retire on my baseball cards back in the 90's . They just kept printing them , and when all is said and done its just a picture of a ball player . and once time goes by people forget how great the older players where and the market dries up . There will be 50-100 that will always be worth big money but the other will lose value with time . I had 10 bitcoins when they were 1000 -- BAHAdmin.
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Can't argue with you Lone. You may be right but you may be wrong. A crystal ball would be handy. I have lost nothing and there is the chance that Ripple will keep climbing. If it doesn't then I have made better than bank interest on my 5K
N"There's a fine line between winning and losing... it's called The Finish Line"
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