€100 of Bitcoin in 2010 = €70m today

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ukjim
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Re: €100 of Bitcoin in 2010 = €70m today

Post by ukjim »

My Mining rig is getting close to being unprofitable. interesting to see what happens when lots of mining capacity gets switched off.
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TranceNRG
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Re: €100 of Bitcoin in 2010 = €70m today

Post by TranceNRG »

Rumham wrote:
TranceNRG wrote:Still plummeting. My losses are more than a grand now :( Won't sell though.
What was your motivation for buying when you did btw. Did you think it could sustain those massive gains?
Basically I wanted some of those gains! I was always sceptical about the vast number of crypto currencies available but thought at least the main ones had a bit more room to grow.
Anyway it's only about 2% of my investments. Hope it won't totally collapse.
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TranceNRG
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Re: €100 of Bitcoin in 2010 = €70m today

Post by TranceNRG »

ukjim wrote:My Mining rig is getting close to being unprofitable. interesting to see what happens when lots of mining capacity gets switched off.
I've got a couple of ex work mates who have invested heavily in mining rigs, so feel bad for them. One of them had spent over 20 grand on mining rigs and rented out space in a data centre. Apparently it was costing him over 2.5K a month! Poor guy. This guy used to be a Business Analyst earning very good money and when he left the company close to a year ago, became a full time 'crypto trader, miner and advisor' and invested quite a bit of his redundancy money :(
Last edited by TranceNRG on Fri Feb 02, 2018 2:28 pm, edited 2 times in total.
ukjim
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Re: €100 of Bitcoin in 2010 = €70m today

Post by ukjim »

TranceNRG wrote:
ukjim wrote:My Mining rig is getting close to being unprofitable. interesting to see what happens when lots of mining capacity gets switched off.
I've got a couple of ex work mates who have invested heavily in mining rigs, so feel bad for them. One of them had spent over 20 grand on mining rigs and rented out space in a data centre. Apparently it was costing him over 2.5K a month! Poor guy. This guy used to be a Business Analyst earning very good money and when he left the company close to a year aga became a 'full time crypto trader, miner and advisor' :(
ouch.

Im lucky that i have solar panels so get a decent amount of free electric

If the price goes down much more below this and its cheaper to buy btc than mine it.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Is that the bounce? XRP went from .66 to 1.22 (au) in a flash. This is nuts.
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TranceNRG
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Re: €100 of Bitcoin in 2010 = €70m today

Post by TranceNRG »

Going back up it seems. XRP at around 0.79 USD
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Zakar
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Zakar »

TranceNRG wrote:Going back up it seems. XRP at around 0.79 USD
Algorithm trading spike IMO
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:Is that the bounce? XRP went from .66 to 1.22 (au) in a flash. This is nuts.
It's f**king excellent. I bought 10000 XRP at 0.63 just hit 0.84 :D
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

USDT to the rescue? x(
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:USDT to the rescue? x(
Don't think so.
Seez
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Seez »

ukjim wrote:
TranceNRG wrote:
ukjim wrote:My Mining rig is getting close to being unprofitable. interesting to see what happens when lots of mining capacity gets switched off.
I've got a couple of ex work mates who have invested heavily in mining rigs, so feel bad for them. One of them had spent over 20 grand on mining rigs and rented out space in a data centre. Apparently it was costing him over 2.5K a month! Poor guy. This guy used to be a Business Analyst earning very good money and when he left the company close to a year aga became a 'full time crypto trader, miner and advisor' :(
ouch.

Im lucky that i have solar panels so get a decent amount of free electric

If the price goes down much more below this and its cheaper to buy btc than mine it.
What will happen then? Transaction fees up and people switch to a POS chain instead?
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

https://drive.google.com/file/d/1PTVErC ... 0f15z/view

It didn’t happen after the futures contract and was 10 days late but that crash / dump was as described. What is interesting is the prediction that if the market doesn’t completely tank we could see a rally back to ATH soon.

Funny that some coins are called pump coins when the entire market gets f**ked the way it does. :uhoh:
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Harveys wrote:USDT to the rescue? x(
No tethers printed since the 23rd.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

https://cryptodaily.co.uk/2018/02/bittr ... -deposits/
Bittrex CEO, Bill Shihara has revealed that the US based exchange would open up USD deposits, possibly dumping tether as their main pairing.

He hinted that dollar deposits might be available soon on the exchange, in a bid to keep up with the ever changing demand, saying;

Dollar Bills Sitting on a Laptop

“Yes, there is going to be a time, I actually think it’s not that far away, when we are going to open up for global signups again, we will end up doing additional requirements, minimum deposit sizes, and things like that to trade, ensuring signs up that are coming in, are people who understand what they are doing…demand has been pretty incredible.”

The exchange currently only deals with cryptocurrencies, and Bitcoin and tether serve as the main pairing for their listed cryptos; however, this could all be about to change. Shihara also discussed how businesses that are focused on retail investors have used Bittrex’s back-end to offer crypto to a much wider audience saying;

“One of the ways, we get the best of both worlds, we have these partnerships, such as Korean exchange Upbit, they use our liquidity, but is basically a retail shop in Korea. We’ve built this back-end infrastructure and Upbit can just plug into it and build on top of it…We’re going to see more deals like that in the coming year. And we will be doing USD tranding; this won’t be open to everybody, available for the majority of our suterms as well as foreign partners that build on top of us.”

Physical Bitcoins Sitting on Laptop With Chart

The reason behind this change comes at a time when suspicions of Tether have heightened. They have allegedly been artificially inflating the price of the cryptocurrency, with no reserves to back up the currency, which means it could take down those exchanges that rely on USDT. When asked if we should be concerned about the Tether allegations, Shihara said;

“Tough question, we treat it as another altcoin. The market agrees Tether is backed by something, as it is trading as a dollar substitute. But I always tell people to do their own research and be cautious in crypto.”

When speaking about how the decentralised exchanges will affect Bittrex, he said;

“I think the technology has a long way to mature, we’ve got a long way to go before we see mature decentralised exchange solutions, especially trading the volume that we do on Bittrex.”
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

goeagles wrote:https://cryptodaily.co.uk/2018/02/bittr ... -deposits/
Bittrex CEO, Bill Shihara has revealed that the US based exchange would open up USD deposits, possibly dumping tether as their main pairing.

He hinted that dollar deposits might be available soon on the exchange, in a bid to keep up with the ever changing demand, saying;

Dollar Bills Sitting on a Laptop

“Yes, there is going to be a time, I actually think it’s not that far away, when we are going to open up for global signups again, we will end up doing additional requirements, minimum deposit sizes, and things like that to trade, ensuring signs up that are coming in, are people who understand what they are doing…demand has been pretty incredible.”

The exchange currently only deals with cryptocurrencies, and Bitcoin and tether serve as the main pairing for their listed cryptos; however, this could all be about to change. Shihara also discussed how businesses that are focused on retail investors have used Bittrex’s back-end to offer crypto to a much wider audience saying;

“One of the ways, we get the best of both worlds, we have these partnerships, such as Korean exchange Upbit, they use our liquidity, but is basically a retail shop in Korea. We’ve built this back-end infrastructure and Upbit can just plug into it and build on top of it…We’re going to see more deals like that in the coming year. And we will be doing USD tranding; this won’t be open to everybody, available for the majority of our suterms as well as foreign partners that build on top of us.”

Physical Bitcoins Sitting on Laptop With Chart

The reason behind this change comes at a time when suspicions of Tether have heightened. They have allegedly been artificially inflating the price of the cryptocurrency, with no reserves to back up the currency, which means it could take down those exchanges that rely on USDT. When asked if we should be concerned about the Tether allegations, Shihara said;

“Tough question, we treat it as another altcoin. The market agrees Tether is backed by something, as it is trading as a dollar substitute. But I always tell people to do their own research and be cautious in crypto.”

When speaking about how the decentralised exchanges will affect Bittrex, he said;

“I think the technology has a long way to mature, we’ve got a long way to go before we see mature decentralised exchange solutions, especially trading the volume that we do on Bittrex.”

Blockchain USD already exist.

Blockchain EUR and GBP will exist by the end of the year.

Nothing at all new in this.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

bimboman wrote: Blockchain USD already exist.

Blockchain EUR and GBP will exist by the end of the year.

Nothing at all new in this.
I don't think you understand what the article is about. This has nothing to do with "blockchain USD" and isn't any new technology. This is about a major alt exchange going through the regulatory framework to get fiat deposits in USD. Currently they do not accept fiat and only trade crypto pairs.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

goeagles wrote:
bimboman wrote: Blockchain USD already exist.

Blockchain EUR and GBP will exist by the end of the year.

Nothing at all new in this.
I don't think you understand what the article is about. This has nothing to do with "blockchain USD" and isn't any new technology. This is about a major alt exchange going through the regulatory framework to get fiat deposits in USD. Currently they do not accept fiat and only trade crypto pairs.

So another exchange has done the regulatory work for them, whys this big news ?
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

bimboman wrote:So another exchange has done the regulatory work for them, whys this big news ?
Because there are currently no USD to alt exchanges. Currently the process for a USD holder who wants to buy alts is:

Open account on Coinbase
Deposit on Coinbase
Buy BTC on Coinbase and pay a trading fee
Open account on alt-exchange
Send BTC from Coinbase wallet to Alt-exchange, pay transaction fee and wait for transaction to be confirmed
Buy preferred alt on the alt exchange, pay trading fee

All of that costs money, takes time and is a pain in the ass. It's also somewhat daunting for someone new to the space.

This is good for alts and somewhat bad for BTC, since the need to trade in BTC pairs increases demand for BTC.

Edit to add that it also reduces reliance on Coinbase, which is obviously a very good thing.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Image
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sewa
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sewa »

Chartists :) pure and utter bollocks. Pretend science for the intellectually challenged
brat
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Re: €100 of Bitcoin in 2010 = €70m today

Post by brat »

sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Sorcrer..just briefly skimmed through this thread

Sounds like you’ve made a shitload of cryptos.. are we talking about 100 -200k plus ballpark?
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

brat wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Sorcrer..just briefly skimmed through this thread

Sounds like you’ve made a shitload of cryptos.. are we talking about 100 -200k plus ballpark?
Not sure what currency you mean? NZD? I have a fairly large holding built over a couple of years. I trade +/- USD$2million a month.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Unless I'm missing something, this is exactly what I've been talking about with Ripple. Where's the use of XRP? Ripple has other blockchain products that don't require the use of XRP and that seems to be what banks are going with, not XRP.
brat
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Re: €100 of Bitcoin in 2010 = €70m today

Post by brat »

sorCrer wrote:
brat wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Sorcrer..just briefly skimmed through this thread

Sounds like you’ve made a shitload of cryptos.. are we talking about 100 -200k plus ballpark?
Not sure what currency you mean? NZD? I have a fairly large holding built over a couple of years. I trade +/- USD$2million a month.
That sounds like more than enough to live off..so have you retired from your normal work to live off trading crypto?
Just interested because I've read a few stories of people giving up their normal occupations to trade.. risky but if it pays off you're made for life
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Tehuringa
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Tehuringa »

goeagles wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Unless I'm missing something, this is exactly what I've been talking about with Ripple. Where's the use of XRP? Ripple has other blockchain products that don't require the use of XRP and that seems to be what banks are going with, not XRP.
Yeah that.... alway been a bit underwhelmed by XRP but have a stash of them just in case. OMG I like this year considering how the Asians have embraced mobile payments, cross platform usability with PayPal, AliPay, etc, PoS, epic advisory team including Vitalek Butarin of ETH, Gavin Wood of ETH, Joesph Poon who wrote the whitepaper for the lightening network, decentralised exchange.... it's pretty epic so I've jumped on that for 2018 (along with ETH, LTC, NEO, VEN, ADA, XLM, NEO, EOS, DASH, PLR & ICON)
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Cartman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Cartman »

ETH's price action looked very good to me over the last month or so, compared to the others
It's good for trading on the long side going forward I reckon
And XRP is my long-term gamble
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

goeagles wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Unless I'm missing something, this is exactly what I've been talking about with Ripple. Where's the use of XRP? Ripple has other blockchain products that don't require the use of XRP and that seems to be what banks are going with, not XRP.
Xrapid. https://ripple.com/solutions/source-liquidity/
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

sorCrer wrote:
goeagles wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Unless I'm missing something, this is exactly what I've been talking about with Ripple. Where's the use of XRP? Ripple has other blockchain products that don't require the use of XRP and that seems to be what banks are going with, not XRP.
Xrapid. https://ripple.com/solutions/source-liquidity/
:nod:
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Tehuringa
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Tehuringa »

sorCrer wrote:
goeagles wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Unless I'm missing something, this is exactly what I've been talking about with Ripple. Where's the use of XRP? Ripple has other blockchain products that don't require the use of XRP and that seems to be what banks are going with, not XRP.
Xrapid. https://ripple.com/solutions/source-liquidity/
:thumbup:
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Leinster in London
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Leinster in London »

Harveys wrote:Image
And if something different happens it will be explained and a re-interpreted future given by another
set of magic numbers.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

https://www.finextra.com/newsarticle/31 ... l-currency

Nathaniel Popper and Brad Garlinghouse exchainge re the use of XRP.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Leinster in London wrote:
And if something different happens it will be explained and a re-interpreted future given by another
set of magic numbers.
Well if we could see the future this thread would be redundant.
Last edited by Harveys on Sat Feb 03, 2018 11:10 am, edited 1 time in total.
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sorCrer
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Post by sorCrer »

Harveys wrote:https://www.finextra.com/newsarticle/31 ... l-currency

Nathaniel Popper and Brad Garlinghouse exchainge re the use of XRP.
I'm predicting XRP at between $5 - $10 by mid year. I'm working towards holding 100 000 of them.
goeagles
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

sorCrer wrote:
goeagles wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Unless I'm missing something, this is exactly what I've been talking about with Ripple. Where's the use of XRP? Ripple has other blockchain products that don't require the use of XRP and that seems to be what banks are going with, not XRP.
Xrapid. https://ripple.com/solutions/source-liquidity/
Wnere about Xrapid? Literally from the Coindesk article:
A Santander spokesperson, said "we plan to launch this in the next few months, and we can confirm on the record that we plan to use xCurrent in the project."

Ripple's xCurrent product does not use XRP, the company's native cryptocurrency.
https://www.coindesk.com/santander-uk-r ... yment-app/
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

goeagles wrote:
sorCrer wrote:
goeagles wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Unless I'm missing something, this is exactly what I've been talking about with Ripple. Where's the use of XRP? Ripple has other blockchain products that don't require the use of XRP and that seems to be what banks are going with, not XRP.
Xrapid. https://ripple.com/solutions/source-liquidity/
Wnere about Xrapid? Literally from the Coindesk article:
A Santander spokesperson, said "we plan to launch this in the next few months, and we can confirm on the record that we plan to use xCurrent in the project."

Ripple's xCurrent product does not use XRP, the company's native cryptocurrency.
https://www.coindesk.com/santander-uk-r ... yment-app/
Santander are using xCurrent (which is going to be replaced by xRapid). Moneygram are piloting Xrapid as are SBI.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

sorCrer wrote:
Harveys wrote:https://www.finextra.com/newsarticle/31 ... l-currency

Nathaniel Popper and Brad Garlinghouse exchainge re the use of XRP.
I'm predicting XRP at between $5 - $10 by mid year. I'm working towards holding 100 000 of them.
Once Xcurrent testing starts being replaced by Xrapid things will get exciting.

I hold 1/4 of that XRP being my greatest exposure. Yesterday morning I sold looking to buy back in lower as the indicators were more downward movement, the price jumped up .10 and spooked me so as soon as I could I bought back in .2 under what I sold for netting me 175 XRP. Had I not shat the bed I could have picked up another 6k when I got home from work, I’m clearly no trader.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

brat wrote:
sorCrer wrote:
brat wrote:
sorCrer wrote:Hey Goey,

Here's some interesting news. Santander...Ripple

https://www.finextra.com/newsarticle/31 ... via-ripple
Sorcrer..just briefly skimmed through this thread

Sounds like you’ve made a shitload of cryptos.. are we talking about 100 -200k plus ballpark?
Not sure what currency you mean? NZD? I have a fairly large holding built over a couple of years. I trade +/- USD$2million a month.
That sounds like more than enough to live off..so have you retired from your normal work to live off trading crypto?
Just interested because I've read a few stories of people giving up their normal occupations to trade.. risky but if it pays off you're made for life
Yeah I've retired from normal work at 49 although I do have some contracts. I'm a full stack developer and can code most things so I'm in quite demand.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

So Santander, the 18th largest bank in the world is rolling out a Ripple powered (Xcurrent) mobile app in Q1 with apple pay in four countries providing cross boarder settlements in 40 seconds at 30% less cost to 14M consumers. This isn’t a trial, this is actual adoption happening now, not years down the track.

So what are the other banks using technology that takes 3+ days at greater cost thinking? They are paying attention.

XRP is not currently being used but at what point does taking that 40second transaction and turning it into a 5 second transaction at a further reduction of cost become further market advantage?

Ripple are, and have been for quite some time quietly proving their product to financial institutes, Xrapid is the upgrade to the Xcurrent system that is being trailed / used.

MoneyGram is trailing Xrapid now.

The Japan Bank Consortium a coalition of 61 banks in Japan, organised by SBI Ripple Asia has announced the launch of a new Ripple pilot with Woori Bank and Shinhan Bank, two of South Korea’s largest banks.

The list goes on.

XRP (Xrapid) may not reach widespread adoption but show me a crypto project with real world application solving real world problems right now.

Partnerships below.
Partnerships (publicly known)
Accenture[52] • Akbank[53] • American Express[54] • ATB Financial[55] • Axis Bank[53] • Banco Bilbao Vizcaya Argentaria (BBVA)[53] • BMO Financial Group[56] • Cambridge Global Payments[53] • Canadian Imperial Bank of Commerce (CIBC)[55] • CBW Bank[3] • CGI Group[57] • Cross River Bank[3] • Davis + Henderson (D+H)[58] • Deloitte[59] • Earthport[40] • Expertus[60] • eZforex[53] • Fidor Bank[39] • Mitsubishi UFJ Financial Group (MUFG)[53] • Mizuho Financial Group (MHFG)[56] • National Australia Bank (NAB)[56] • National Bank of Abu Dhabi (NBAD)[55] • ReiseBank[55] • Royal Bank of Canada (RBC)[56] • Santander[61] • SBI Holdings[62] • SBI Remit[53] • Shanghai Huarui Bank (SHRB)[56] • Siam Commercial Bank (SCB)[56] • Skandinaviska Enskilda Banken AB (SEB)[53] • Standard Chartered[56] • Star One Credit Union[53] • Tas Group[63] • Temenos Group[59] • UBS[55] • UniCredit Group[55] • Volante Technologies[64] • Westpac Banking Corp[56] • Yantra Financial Technologies[65] • Yes Bank[53]

Experimenting (publicly known)
Aeon Bank[66] • Aomori Bank[66] • Ashikaga Bank[66] • Australia and New Zealand Banking Group (ANZ)[67] • Awa Bank[66] • Bank of England[68] • Bank of the Ryukyus[66] • Bank of Yokohama[66] • Chiba Bank[66] • Chugoku Bank[66] • Commonwealth Bank of Australia[44] • Daiwa Next Bank[66] • DBS Group Holdings[69] • Fukui Bank[66] • Gunma Bank[66] • Hachijuni Bank[66] • Hiroshima Bank[66] • Hokuriku Bank[66] • Hyakugo Bank[66] • Iyo Bank[66] • Juroku Bank[66] • Keiyo Bank[66] • Michinoku Bank[66] • Mizuho Financial Group[66] • Musashino Bank[66] • Nishi-Nippon City Bank[66] • North Pacific Bank[66] • Oita Bank[66] • Orix Bank Corporation[66] • Resona Bank[66] • Royal Bank of Scotland (RBS)[70] • San-in Godo Bank[66] • SAP[71] • SBI Sumishin Net Bank[66] • Senshu Ikeda Bank[66] • Seven Bank[66] • Shimizu Bank[66] • Shinkin Central Bank[66] • Shinsei Bank[66] • Sikoku Bank[66] • Sony Bank[66] • Sumitomo Mitsui Trust Bank[66] • Suruga Bank[66] • The 77 Bank[66] • The Daishi Bank[66] • The Nomura Trust & Banking Co.[66] • Tochigi Bank[66] • Toho Bank[66] • Tokyo Star Bank[66] • Tsukuba Bank[66] • Western Union[32] • Yachiyo Bank[66] • Yamagata Bank[66] • Yamaguchi Bank[66]
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