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Honest_Bob

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  1. Not sure what your point is - do you mean I need to provide an acceptable reason for why I'm interested in XRP? Ok then, how about this... I want to be rich and I see this (XRP) as a potentially useful tool, but I'm sceptical since it continues to drop in price (and anytime I buy shares, they always drop in price, so my experience tells me to stay away). I almost bought in at $1.30 based on advice from an excited friend (Dr Harry, who bought in at 30 cents) - I'm really glad I didn't. Maybe I'll buy at 10 cents - not sure yet, still learning, first need to feel comfortable about owning an asset that can't easily be safely stored (hackers!) and could be lost if I die without passing on my secret numbers or get dementia. Hope that's a good enough reason. When people respond to my posts like Hodlezerper, it helps me. When people attack, it doesn't. But it doesn't upset me. I just hope my posts (and the responses) help other people who may, one day, invest in XRP.
  2. Thanks Hodlezerper, I agree with you 100%. You make me want to believe in this, that it's real and will succeed. I guess I'm just a pessimist and need help to see the light. Appreciate your insights. Good luck!
  3. I was taught on this forum that XRP must be highly priced to enable it to function (to accommodate huge daily flows of money when Ripple replaces SWIFT) and that the price would rise over time. I was ridiculed for my comments & ideas and accused of FUD. But, if I was wrong, why is the price falling rapidly with ever diminishing peaks and diminishing volumes? Is there really a clever plan (or conspiracy) by financial institutions who are manipulating the market to get it cheaper before it takes off? No, I don't think so. I predict XRP will fall below 10 cents by the end of the year. Let's see who's right. PS. I don't want people to lose money by gambling with XRP. It will ruin lives. The house always wins! So I'm trying to be the voice of reason. But gamblers never listen - it's an addiction - so I'm sure you'll continue to ignore me. But at least I tried. Cheers, Bob
  4. I accept of course that Euro has real value but it's not predominantly due to its utilisation in currency transfers, is it? But I understand your point. So, accepting that XRP has value, now I have to work out what is the real value of XRP relative to other currencies - which is probably different to today's market price. I guess that's the million XRP question. And my guess is as good as yours - but I don't have a clue!
  5. Maybe all this means is that they (Ripple) haven't created enough of them. I wish my house was worth $1 billion so I could do lots of things, but it's never going to happen. Wanting something because it's helpful or necessary doesn't make it happen. Unfortunately.
  6. I think this is the crux of my problem. I see XRP (or maybe I mean Ripple) to be like a data stream which transfers a number which represents a currency value (eg, $100) from one place to another place where it becomes the same value in the same or different currency. I don't see XRP as having any value itself (or any persisting value beyond the transaction). Seen this way, it is like a postage stamp which does its job and then is worthless except to collectors. It conveys something of value without being valuable itself beyond the transaction. Yes, I know postage stamps are a weak analogy (since, unlike XRP, they never assume the value of the items they convey) but it helps to oversimplify since it's a complex topic. Thanks for not accusing me of FUD - I genuinely am trying to learn and I hope my ignorant posts help other people who are too scared to ask questions.
  7. There seems to be no logic in this market - just a lot of magical thinking. While it "can't" or mustn't be dirt cheap to be effective or practical, this isn't proof that XRP won't be dirt cheap. Or that it has a future. Anyhow I don't think its valuation has much relevance - it can be used for international transactions at any value. Quantity is irrelevant for a weightless, volumeless digital entity - one trillion of them is as easy to work with as one of them (though this isn't true for Bitcoin which is the subject of David Schwartz's 2nd comment above). Yes I know there are (currently) a limited number of them in existence but, if more are needed to make this work, more will be created to avoid failure. Anyhow, the current value is less than the price of a common postage stamp (where I live). Maybe that's what it's worth, now and forever. And it would be a good thing because a stable price is good for transactions, good for banks and would remove evil speculation from the market. Or am I wrong again?
  8. Sorry, I'm a slow learner and it's a complex topic. I can understand the benefits of cryptocurrencies - I just don't understand the valuations and the mechanics (as you can see from my post). But I'm getting there. Sorry if you're offended when I ask for help. Surely I'm not harming the value of XRP by asking questions so maybe you can forgive me??
  9. Wow, this is bigger than I could ever have imagined. Very exciting! Thanks for the insight.
  10. This all sounds great but who will be the winners? Not me - I can't see how I could end up with more $$$ to spend just because international transactions are faster and possibly cheaper. So if I'm not a winner, could I be worse off? Competing for goods and services with smarter & richer people living overseas doesn't sound good to me. Change is not always good. But luckily I don't believe in XRP (see my post above) so maybe I shouldn't worry about this...
  11. Good point, didn't think of that. Same thing if everyone stops using XRP.
  12. Update on my thoughts about XRP (copied from another post)... I still don't understand why XRP has to have any $ value or why the imagined value should increase if there is more usage. My frequent flyer points and my bank notes don't become more valuable when more people use them. Surely XRP could be used as an intermediary token or currency without any assigned or real $ value - they just need a notional or virtual value in each fiat currency. Anyhow, if they are actually worth something, why is it left to the market to decide what this value is? Why didn't Ripple just say: "Hey, they're $2 each based on all the great stuff they can do, so come and buy some if you believe us"? I also can't understand why people think XRP should be a certain price because they need to be a certain price (for liquidity etc). I need my house to be worth $2 million so I can do things but I doubt it will happen. Wanting or needing something doesn't mean it will happen. It's still a great mystery (to me). Sorry if anyone is offended or if you think I'm an idiot not worthy of a response. But I would appreciate your response to help me learn and understand. I'm sure other people will also benefit from your explanations.
  13. I still don't understand why XRP has to have any $ value or why the imagined value should increase if there is more usage. My frequent flyer points and my bank notes don't become more valuable when more people use them. Surely XRP could be used as an intermediary token or currency without any assigned or real $ value - they just need a notional or virtual value in each fiat currency. Anyhow, if they are actually worth something, why is it left to the market to decide what this value is? Why didn't Ripple just say: "Hey, they're $2 each based on all the great stuff they can do, so come and buy some if you believe us"? I also can't understand why people think XRP should be a certain price because they need to be a certain price (for liquidity etc). I need my house to be worth $2 million so I can do things but I doubt it will happen. Wanting or needing something doesn't mean it will happen. It's still a great mystery (to me).
  14. Thank you Xrpdude - I don't disagree with you. I joined the forum to become less ignorant, and my first post was actually submitted to the New Members section, not the General section (where it was moved later without my involvement). I'm embarrassed now by my first post and happy to say that I've learned a lot. But winning the "most ignorant forum post" award is certainly a great honour. Accepted with pride!
  15. Not sure what you mean. You seem to be suggesting that I have some motive or nefarious objective, but I'm just asking questions. I have nothing to gain from my posts or questions other than knowledge. It's fun seeing how people can attack me without saying anything. The whole crypto world is full of masters of manipulation and trickery. Lots of nice acronyms and fancy sayings (crypto slang) to feed true believers and scare off people who have questions (and thereby express doubts). I agree it is hilarious, and fertile ground for psychologists...
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