As money starts to flow into crytpos from main-street and wall-street there was no doubt in my mind that investors would be looking for, well, solid investments in the space.
I am looking for the coins/software that will have value in the future. I also understand the risks of these markets having been through multiple bubbles. I want to be positioned in the coins that have the best chance for success. This is why I look for the following: 1) Working product 2) Professional Management Team 3) First to Market 4) Market Penetration 5) Professional Website 6) Aggressive Marketing!
Now Ripple is not your typical coin, and I know I will get the "it's centralized" in many comments. I DO NOT CARE! Ripple has real world uses and as an investor I am looking to invest,not a philosophical re-discovery of myself. Eventually as regulators and governments get involved the euphoric state of mind will be replaced with reality. Now I hear all the time, government cannot control bitcoin. They can't? 10 billion dollars is a drop in the bucket for government or the banking system. They could quietly buy up coins that threaten their status and shelve them crushing mining with a devaluation of the currency! This is probably already happening quite frankly and as supply dwindles demand rises and so do prices. I mean everyone has their price right?
The US banking system alone handles about $7 Trillion dollars a day in overseas money transfers. This equals to about $1000 per ripple. The transferring of international money is a huge business. Money flows in and out of every country in the international markets. The number of money transfers among international banks is close 500 trillion transactions a year. This is a huge market and one ripple is specifically targeting. If they get 1% of the market (5 trillion transactions a year) at $0.004 per transaction this is $20 billion in fees a year or about 5 cents a coin.
Now ripple has already partnered with numerous banks, American Express, Gates Foundation and several wire transfer companies to provide services. Now why would not banks do this themselves? They can and will, but ripple allows small banks to compete globally, and why build what you can use so cheap. Why many companies lease plans and do not own them. Who wants to deal with maintenance and upgrades?
Many focus to hard on coin count. It is all relative. Ripple is a company that is run by executives from Wall Street, not avatars. Not every transaction in the future will require being anonymous. Most will not. Large companies transfer billions a year overseas and ripple provides an economical way to achieve this, and Wall Street loves Wall Street and the board is full of former executives and is well rounded.
Bottom line Ripple is a good long term investment in my opinion. I have a short term target of 80 cents and a longer term target of $1.30. This is one quite frankly I am holding for the longer term. For disclosure I have also invested in Stellar Lumens as other than swift this will be their largest competitor.
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Ok long term target hit, I am pulling some off the table. But that is me and my average cost is around 20 cents.
I cannot emphasize enough that there is never a bad time to take money off the table. JP Morgan "I made a fortune selling too early", and that is posted above my desk along with his portrait to remind me never to get greedy!
you might suck at shorting bitcoin, but you pick great investment coins. may i suggest a post of the coins that you are invested in for the long term? you're analysis is good in this area. it would be worth paying for imo. cheers.
goldbug1
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@cycler, LOL I was 1-1 in shorting bitcoin for the record! I only shorted twice ;) quick lesson in why you do not short bitcoin or this market in general and it was not a true short to be clear.
cycler
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@goldbug1, everyone's gotta get burnt by shorting bitcoin. you actually lose money when you sell bitcoin no matter when you sell it.
goldbug1
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@cycler, Yes and I did mention in every article do NOT sell your core holdings of bitcoin, but many seemed to look past that sentence ;)
cycler
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@goldbug1, the best way to make money in crypo is to just buy and hold, sell when your happy with the profits.
There is a fine line between the speculator and the investor and it is even more fine in the crypto markets. Yes profits are profits and no one can argue that. But a sell at 100-200% gain can easily turn into a lost opportunity of 1000-2000% in a couple weeks. Buying is the easy part. Selling takes a plan and guts!
goldbug1
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@sdberscheid, Agree which is why I take only some off the table. If I can sell 1/3 of my initial position and come out with my investment plus some, I am always happy. Let it run on house money. But if it goes back to 40 cents I missed an opportunity to take profit and buy back cheaper. I never miss those opportunities to take profits. But each speculator trader or investor has to make their own choices as it's their own money.
sdberscheid
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@goldbug1, Thanks GB. Over the last 20 years I have never had issues buying, but selling always gets more emotional whether its real estate, stocks, crypto's or whatever asset. I love the JP Morgan quote you posted. I took 25% off the table XRP at .80 and the rest is house money. That's the smart play even as it may rise a lot from here. Thanks again GB.
ehev16
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You are the bomb man. I usually get word of good trades on twitter first, then I DMOR, then I make a purchase, and finally I wait for goldbug to write a fantastic trading view article about why the coin I just loaded up in is a good investment. Legendary as usual, I'm drinking a Korean makgoeli in honour of you tonight!