6 ms·

Why exactly did Ripple start going up in the first place?

cgore 9y ago
Some banks might use it. It's kind of like if there was a Napster clone in 1995 endorsed by a few record companies.
pat2man 9y ago
BTC and ETH both had major scaling issues and transaction fees skyrocketed. Since the semi-centralized nature of Ripple means that transactions are relatively cheap speculators started buying. There are other similar coins that also saw a boost.
base698 9y ago
People bought and sold at increasing prices. There was a "demand".
EGreg 9y ago
Bitcoin stopped going up so people started looking where to park their value. Ripple was next, followed by Lumens. And followed by smaller cap ICOs like TXR. I would say that the best strategy is lookfor smaller market cap ICOs run by a team that is WELL CONNECTED. The better connected the tram the more chance the coin will explode several times as articles come out about new initiatives.
- beefield 9y ago
  > I would say that the best strategy is Apologies, can't help myself being a cynical bastard. I would say that the best strategy in long term is to invest in assets that actually produce cash flow to the investors.
  - wmf 9y ago
    Unfortunately for grownups, making 100X in one year and then retiring probably does beat value investing over the long term.
    - Axsuul 9y ago
      And just what are the chances of you making 100X? I think people underestimate being able to time the market. This is a small sample size but all my friends who have attempted to day-trade the cryptomarket have not beaten my gains of just hodling.
empath75 9y ago
Same speculative bullshit that drives every other crypto pump and dump.
wmf 9y ago
Banks hate cryptocurrency yet Ripple Inc. keeps putting out press releases about working with banks. People read these press releases and think XRP will be the first/only legit cryptocurrency and thus it must be worth more in the future. But they're probably completely wrong.

Some banks might use it. It's kind of like if there was a Napster clone in 1995 endorsed by a few record companies.

BTC and ETH both had major scaling issues and transaction fees skyrocketed. Since the semi-centralized nature of Ripple means that transactions are relatively cheap speculators started buying. There are other similar coins that also saw a boost.

base698 9y ago

People bought and sold at increasing prices. There was a "demand".

EGreg 9y ago

Bitcoin stopped going up so people started looking where to park their value. Ripple was next, followed by Lumens. And followed by smaller cap ICOs like TXR. I would say that the best strategy is lookfor smaller market cap ICOs run by a team that is WELL CONNECTED. The better connected the tram the more chance the coin will explode several times as articles come out about new initiatives.

beefield 9y ago
> I would say that the best strategy is Apologies, can't help myself being a cynical bastard. I would say that the best strategy in long term is to invest in assets that actually produce cash flow to the investors.
- wmf 9y ago
  Unfortunately for grownups, making 100X in one year and then retiring probably does beat value investing over the long term.
  - Axsuul 9y ago
    And just what are the chances of you making 100X? I think people underestimate being able to time the market. This is a small sample size but all my friends who have attempted to day-trade the cryptomarket have not beaten my gains of just hodling.

empath75 9y ago

Same speculative bullshit that drives every other crypto pump and dump.

wmf 9y ago

Banks hate cryptocurrency yet Ripple Inc. keeps putting out press releases about working with banks. People read these press releases and think XRP will be the first/only legit cryptocurrency and thus it must be worth more in the future. But they're probably completely wrong.