Bedford Roughyed Posted February 1, 2021 Share Posted February 1, 2021 Friends are suggesting some coordinated action on certain crypto (ripple?). Don't understand most of it.... With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on! Link to comment Share on other sites More sharing options...
RidingPie Posted February 1, 2021 Share Posted February 1, 2021 2 hours ago, Farmduck said: I hope small investors don't go full Gamestop on silver because there is a huge difference between the two situations: there is a finite number of GME shares. There is no finite amount of silver that can be put into the market. If the price goes beserk there are mines in 20 different countries that can just dig up more, certainly way more than small investors could ever afford. The only way this would hurt the institutions is of all the buyers were to try and redeem their physical silver. This is why I suspect this is the institutions trying to jump on the bandwagon! They’d never risk out with gold, but silver isn’t going to upset too many applecarts! Link to comment Share on other sites More sharing options...
Tommygilf Posted February 1, 2021 Author Share Posted February 1, 2021 2 hours ago, Saint 1 said: I don't think anyone is arguing that they bought the GME shares from nobody, or debating that funds actually selling GME shares will benefit. However, those funds are rich either way. Driving up the price at least hurts some of the funds, i.e. the short-sellers. I would contend that there are quite a lot of people happy to lose $300 for the sake of giving some hedge funds a bloody nose, especially if you're someone who has grown up in the wake of the 2008 GFC and seen Wall Street bare a very limited share of the consequences. Case in direct point Link to comment Share on other sites More sharing options...
RidingPie Posted February 1, 2021 Share Posted February 1, 2021 1 hour ago, Bedford Roughyed said: Friends are suggesting some coordinated action on certain crypto (ripple?). Don't understand most of it.... I am heavily in to crypto. Ripple (or XRP as the coin is actually called) won’t get pumped for long, it’s got a lot of downward pressure on from Ripple labs constantly selling their supply and McCaleb constantly offloading selling his purse too... lump that in with the Sec during ripple and it’s difficult to see a sustained pump! That said it’sa good project with a solid use case. Link to comment Share on other sites More sharing options...
Tommygilf Posted February 1, 2021 Author Share Posted February 1, 2021 4 hours ago, RidingPie said: Looking at the Reddit group they haven’t recommended silver and think it’s the institutions doing this to try and cover their losses. Silver is an interesting case though as it’s believed many of the silver ownership bonds have been sold to multiple owners. Meaning that if people went to retrieve the silver they theoretically own there wouldn’t be enough silver to pay it out. Link to comment Share on other sites More sharing options...
Bedford Roughyed Posted February 1, 2021 Share Posted February 1, 2021 1 hour ago, RidingPie said: I am heavily in to crypto. Ripple (or XRP as the coin is actually called) won’t get pumped for long, it’s got a lot of downward pressure on from Ripple labs constantly selling their supply and McCaleb constantly offloading selling his purse too... lump that in with the Sec during ripple and it’s difficult to see a sustained pump! That said it’sa good project with a solid use case. That didn't help.... With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on! Link to comment Share on other sites More sharing options...
Farmduck Posted February 1, 2021 Share Posted February 1, 2021 20 minutes ago, Bedford Roughyed said: That didn't help.... I'm not into crypto at all. This might help a bit https://www.digitaltrends.com/computing/what-is-ripple/ Link to comment Share on other sites More sharing options...
RidingPie Posted February 1, 2021 Share Posted February 1, 2021 26 minutes ago, Bedford Roughyed said: That didn't help.... Ok to sum up quick XRP is a crypto that aims to replace swift as the way international banks transfer money between different currencies. The product which works on the xrp ledger (which is essentially the database that stores the transactions) is called ODL or On Demand Liquidity and allows the transfer of money across the world is seconds with tiny fees. hope that helps a bit! Link to comment Share on other sites More sharing options...
Tommygilf Posted February 1, 2021 Author Share Posted February 1, 2021 Just now, RidingPie said: Ok to sum up quick XRP is a crypto that aims to replace swift as the way international banks transfer money between different currencies. The product which works on the xrp ledger (which is essentially the database that stores the transactions) is called ODL or On Demand Liquidity and allows the transfer of money across the world is seconds with tiny fees. hope that helps a bit! Its definitely got huge potential, as does ethereum imo (but for different stuff obviously). Link to comment Share on other sites More sharing options...
RidingPie Posted February 1, 2021 Share Posted February 1, 2021 3 minutes ago, Tommygilf said: Its definitely got huge potential, as does ethereum imo (but for different stuff obviously). Yes Eth has huge potential if the things they want to deliver in eth 2.0! Otherwise one of their competitors, like Cardano or Polkadot could take over. Eth’s biggest problem at the moment are the ridiculously high gas fees. I do love the concept! Link to comment Share on other sites More sharing options...
Bedford Roughyed Posted February 4, 2021 Share Posted February 4, 2021 With the best, thats a good bit of PR, though I would say the Bedford team, theres, like, you know, 13 blokes who can get together at the weekend to have a game together, which doesnt point to expansion of the game. Point, yeah go on! Link to comment Share on other sites More sharing options...
Dunbar Posted February 18, 2022 Share Posted February 18, 2022 So, a semi related post to the topic. I have just popped out for a pint and stopped at the newsagents for something to read. I was buying Investors Chronicle which is an occasional read of mine and the guy in front was buying lottery tickets... can't work put who was the bigger mug! I thought I would add it here cause I tried to start an investments thread a while back and there were exactly zero replies "The history of the world is the history of the triumph of the heartless over the mindless." — Sir Humphrey Appleby. "If someone doesn't value evidence, what evidence are you going to provide to prove that they should value it? If someone doesn't value logic, what logical argument could you provide to show the importance of logic?" — Sam Harris Link to comment Share on other sites More sharing options...
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