February 11th, 2018 – Update on Bitcoin and Ripple
Since my last blog in late December, both Ripple and Bitcoin have been on a wild ride. Bitcoin was up around $20,000 USD and Ripple reach around $3.60 USD. It made Christmas and the New Year quite exciting. But since then Bitcoin and Ripple have come down to earth.
As of 2/11/18, Bitcoin is trading at $8,400 USD and Ripple is at $1.05 USD. In any market this is typical. Anytime a stock takes off like this there is consolidation to its appropriate price. That’s the efficiencies of the market!
I’m still long both Cryptocurrencies. But for very different reasons. Bitcoin is similar to gold in the crypto space. It is the defacto standard and is what every other crypto is measured on. I don’t see this changing soon. I will let my readers know if my stance changes.
Now Ripple is my darling. I believe this has the greatest potential. I listened to Brad Garlinghouse, CEO of Ripple speak at the Yahoo Financial Forum. If you get a chance, listen to his presentation: https://www.youtube.com/watch?v=kyWZzgZN3wo&t=1413s. Why do I think Ripple will be a winner in this space? 1) It solves a problem unlike other cryptocurrencies. The Use Case that it solves is a trillion-dollar problem. 2) It already has real customers. 3) Google has invested hundreds of millions into the company. In this space, be careful out there.
December 24th, 2017 – Update on Bitcoin and Ripple
I am not sure I have the words to describe what is happening. It is very similar to the dotcom euphoria back in the early 90's. As of today, Bitcoin sits at just over $13,000. Ripple, which is my favorite crypto is trading at just around $1.00. Unbelievable. I will be adding some links on the potential of Ripple in the near future. Merry Christmas!
May 21th, 2017 – Update on Bitcoin and Ripple
WOW... The cryptocurrency sector has gone mad. It is the wild wild west in this new area so buyer beware. As of May 21, 2017, Bitcoin is trading at over $2,000 USD per coin. It should be ripe for a pull back. Stay tuned.
Even crazier, Ripple is now trading at .33 a share. This huge rise is due to the hot sector. However, I believe Ripple may be a leader in this space with their unique technology. Whatever company wins out to become the hub of the exchange of currencies (traditional and crypto) will do exceptionally well in their investment.
May 7th, 2017 – My first purchase of a Cryptocurrency
I did my research and it came down to 2 cryptocurrencies I liked. The first was Bitcoin. It is the most well known and has a track record I could review. It continues to gain momentum and has recently shot up to over $1500 US dollars per coin as of May 7th, 2017. I made my first purchase on April 13th around $1215 per coin.
The second purchase I made with Ripple or XRP. XRP is an independent digital asset, native to the Ripple Consensus Ledger. It has solid investment from Google, so I decided to take a shot. When you do your research the key is the algorithm the currency has backing it. I am betting that the smart people at Google did their research. Google won the search wars due to their great search algorithm. I also purchased XRP on April 13th at around .03 a Share. As of May 7th, 2017 XRP is trading at .13 a share. It is the wild west of cryptocurrencies, so enter at your own risk. But this is definitely an alternative to our US dollar and why I believe it is so popular. To purchase these cryptocurrencies, I used a company called Bitstamp.net.
April 11th, 2017 – What is a Cryptocurrency?
Up until now, MonieStorm has focused on Gold and Silver as an alternate currency as well as an investment vehicle. Gold and Silver have stood the test of time as money and will continue to do so as far as the eye can see. So this journey I am about to take you on is new to me. I will be learning alongside you. The world of cryptocurrencies…
In this series, I will look at Cryptocurrencies as an alternative to holding US Dollars. Wikipedia defines a cryptocurrency as a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Many of us a have heard of Bitcoin. While this is the most prominent cryptocurrency, it is by no means the only one out there. In the next series, we will look at the most active cryptocurrencies in the marketplace today.