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Comment by DickingAround | Hacker News Reader

Why exactly did Ripple start going up in the first place?

Banks hate cryptocurrency yet Ripple Inc. keeps putting out press releases about working with banks. People read these press releases and think XRP will be the first/only legit cryptocurrency and thus it must be worth more in the future. But they're probably completely wrong.

BTC and ETH both had major scaling issues and transaction fees skyrocketed. Since the semi-centralized nature of Ripple means that transactions are relatively cheap speculators started buying. There are other similar coins that also saw a boost.

Bitcoin stopped going up so people started looking where to park their value. Ripple was next, followed by Lumens. And followed by smaller cap ICOs like TXR.

I would say that the best strategy is lookfor smaller market cap ICOs run by a team that is WELL CONNECTED. The better connected the tram the more chance the coin will explode several times as articles come out about new initiatives.

> I would say that the best strategy is

Apologies, can't help myself being a cynical bastard.

I would say that the best strategy in long term is to invest in assets that actually produce cash flow to the investors.

Unfortunately for grownups, making 100X in one year and then retiring probably does beat value investing over the long term.

And just what are the chances of you making 100X? I think people underestimate being able to time the market. This is a small sample size but all my friends who have attempted to day-trade the cryptomarket have not beaten my gains of just hodling.

Some banks might use it. It's kind of like if there was a Napster clone in 1995 endorsed by a few record companies.

People bought and sold at increasing prices. There was a "demand".

Same speculative bullshit that drives every other crypto pump and dump.

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