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mike  ·  2299 days ago  ·  link  ·    ·  parent  ·  post: Musings on Cryptocurrency - an invitation to ruminate

I think Ripple is rising fast is because people understand it. They look at Bitcoin and think why? I'll use a credit card. They look at ether and ask if they really need to buy a cryptokitty. Huh. But Ripple is going to be used by banks, to send money fast and save the banks 60% in fees. (As I understand it, a bank need to have an agreement with another banks for transfers between currencies and both need fiat locked up just for transfers. This keeps a lot of banks' money off the table, just for transfers and conversions. Ripple could eliminate this need.) That makes Ripple very understandable to people who have money and so they buy buy buy.

Yeah, there's too many of them, but what will the crash point be and what will the final price bewhen it all settles? 10 cents? $1? $10? I don't even know how to think about it.

I do know I bought some last summer, made a huge return, and sold out most of it week.