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playingpoodles

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  1. And to the person promoting Stellar - the problem with Stellar is Jed's reputation will prevent any serious financial industry participants from dealing with him at all. And no, providing financial access to poor, disadvantaged, impoverished, unbanked populations is not the the "secret hidden" way to get rich that no one ever thought about.
  2. 1. Why would you seek investment advice from your counterparties in the market? That's like asking your wife's sister whether she thinks your wife is being faithful to you. 2. XRP has significant upside and downside risks. There's a bit more volume through the RCL now, $18 million. Still that's 7% of volume, the rest of the volume is through crypto exchanges. Short term for XRP I'd say price will be determined by large holders who have an interest manipulating price: whales and Ripple. People will be scared to short XRP because it has had so many pumps. But I do expect people just to cash out of XRP on Poloniex and other places. Personally, I think given the level of uncertainty, and the level of advancement in XRP at this point, there is more downside than upside risk to price in the short term. In the long term, I would wait for new positive news to justify the present price. 3. To me Bitcoin this year has very little downside risk, and moderate upside risk. I certainly believe it will beat $2000, and I don't believe it will fall below $1600. 4. I think only a very foolhardy person would by XRP at its present nearly 28 cent price.
  3. It usually takes at least a couple of weeks for a coin's price to settle after a polo pump. I think XRP has held up better than I and others expected at 0.36 as I write. I personally think it'll drop, but I think 0.2 may be a new floor. Not bad, every misery-guts here who was depressed at the XRP price has had the opportunity for all their sadness to be turned into joy, and it could pump again from 0.2 on polo. Just one person's gut feel.
  4. @cmbartley agree with you, limit to XRP fiat pairs. When did the Bitstamp MM incentive come out - I thought it was after the Polo pump had already started? Anyway short term it was great, put XRP on the map. Longer term, you lose credibility with offering something for six days and then pulling it, and given Ripple's partnership with Bitstamp it reflects back on Ripple.
  5. Re @Vinnie he is right in bringing up the reality that until there is RCL volume discussion of bank involvement in XRP is hypothetical, uncertain and future-oriented. He is 100% wrong to publically diminish a former employer that paid him, even if his criticisms have basis.
  6. @cmbartley some people on xrpchat were critical of Miguel, I think anyone so speaking is "eating their hat" now. Right guy for the job.
  7. Re @chaser I would highly recommend people not to take investment advice from someone who says "personally I think there is no limit," to the price of an asset. Asset prices do three things, they go up, they go down, and the stay the same. Of course if you hold XRP you "hope" it goes up. This won't get you anywhere, you have to work out what buyers and sellers in the market overall think about the price. If they think it will go up they will buy and it will go up, and if they think it will go down they will sell and it will go down. The only difference this latest pump in XRP price has in my view made to market sentiment was to show XRP can pump on Poloniex, which actually is quit important as it will bring in Poloniex altcoin money and lead probably to a new "normal" price above the 0.05 it was when I bought in. I am a long term buyer of XRP, but I sold lots at 0.6 because I thought it would go down and I could buy back later for less, which it did. I will be wrong on these calls too, as I've been wrong on lots of calls, and eventually if crypto markets get big enoguh algorithmic traders will come in and we'll always lose to the computer with these kinds of bets. I believe another significant pump would probably require new information indicating real financial institution use or intended use of XRP for settlements, although Poloniex pumps more moderate than the last one we've seen may happen from time to time in a normal Poloniex speculative fashion.
  8. @BAX given that the price increased 14 fold, enormous volume is not surprising. A lot of people who had been sitting on tremendous losses from XRP buys in 2014 and 2015 would have been elated and sold out. And I am thinking I'm not the only person who sold out most of my holdings at 0.6 expecting the price would rest to a new normal below this. I repositioned about four times during the spike to sell high and buyback lower, I'm sure many holders tried this (with varying degrees of success). Still, half of the free float traded in a week is nonetheless impressive. Show me any member here who says they saw it coming and I'll show you a liar.
  9. Again boys and girls, separate what you want from what is likely, and you'll be richer for it in the end. $1 XRP means $100 billion marketcap - why would global banks want to tie up $100 billion of capital just to speed up and reduce transaction fees for international bank transfers? I believed for about two years before I invested in XRP in XRP's potential because I thought a business model that enriched already rich large financial players was the only model that was going to be "allowed" widescale adoption. XRP offered the financial institutions this, and that's why I did and still do believe in it. But get a grip. There are multi-millionare whales on Poloniex who want you to think unrealistically, and they want to prise your few $1000s to add to their millions. XRP will consolidate at a new normal below the 0.7 it hit. Poloniex traders will find a new "toy" to pump. Longer term XRP will rise in value if it is adopted by banks and financial institutions. I will repeat what I've suggested since I've been on this forum: XRP has the possibility to substantially rise if it is adopted, and it is in my view suitable to invest a portion of your cryptocurrency holdings in it.
  10. @Vinnie I'm not sure it was for no effort. I get the sense Ripple Labs wanted XRP to rise and hired Miguel to effect that intent. His video interview was an example of that. I also wonder without requiring an answer whether Miguel or other Ripple employees have in fact been active on Poloniex pumping volume. Sure the volume has gone insane with the current price spike but it had increased from the 100,000s to millions per day for weeks before that. If it was a deliberate Ripple strategy, it has been an unmitigated success.
  11. Re @ Vinnie - you guys ever heard of not kicking a man while he is down? I have not read a single post from Vinnie that indicated he is hostile to the success of XRP. I've read words of caution, I've read words where he does not agree with every direction of Ripple management. But guess what guys, look through all my posts - I am very supportive of XRP, and the fact that I sometimes raise constructive criticism regarding Ripple and XRP strategy does not negate that.
  12. If this is Miguel's doing, this is exactly what Ripple needed someone in-house to be doing a year or two years ago. This is extraordinary news, now I see the full sense of the Bitstamp relationship. This will be an enormous win-win, because Bitstamp too now steals a March on Kraken, GDAX/Coinbase and others because if XRP stays high in value it will really bring volume to Bitstamp.
  13. Obviously it has been a speculitive rise, like all large sudden rises in all crytpocurrencies in all times in all cases up until now have been. XRP does have some fundamental value as it falls into a basket of cryptocurrencies (a small percentage of all cryptocurrencies) for which there is a foreseeable and not far-fetched or fanciful sustainable use case. Myself, I'd throw both DASH and Ether into this basket too. I would throw Bitcoin out of this basket. A couple of weeks ago I made a post - since deleted, as I was concerned I'd worded it badly - about people on Poloniex being more short than long on XRP. What I meant was, there were many more sell orders than buy orders, but my wording was confusing because Poloniex has short/long for margin trading borrowed coins. Vinnie posted back he could see no margin lending of XRP, and when I looked he was right. There was virtually zero margin trading XRP for days and weeks at a time. That hasn't been the case the last week or two. Guess at present which coin on Poloniex will offer you the highest interest if you make it available for margin traders? That's right, XRP. I've repeatedly lent my holdings out at 0.3% a day, when other coins offer around 0.03%, or a tenth, at best. Bitcoin is due to die as top coin this year, or 2018 at the latest. As time goes on, more and more participants in the market are coming to this view. Money has flowed out of Bitcoin into DASH, then Ether, and now XRP. Good for me and you. A lot of this has been straight out buying, but this coincided with a margin trading market emerging for XRP that had been dormant before. This said I don't think XRP will return to the 0.005 cents it was when I bought in. At some point though, just as DASH has now dropped 30% off its previous highs to consolidate at a new higher 'normal', XRP will peak and move down to consolidate at a new 'normal' price for XRP. When Bitcoin really starts to tank - which I think will be this year - I expect several coins to go up like crazy. Until this XRP run we've just had, I thought XRP would benefit from this less than other coins - this latest run has proven me wrong, XRP can feed just as much on the Bitcoin carcass as can other solid altcoins.
  14. Guys and gals, you do need to separate what you want from what is likely. I'd like to marry a 22 year old wealthy virgin, have a chateu in France, and hide my billions in Switzerland. At this point it isn't going to help my life to giddily speculate upon how pretty my 22 year old virgin will be, how large my chateu will be, and whether I'll have 10 or 100 billion to hide in Switzerland. By use of this weird analogy, same for XRP. Think about it this way if all XRP are distributed total value for XRP: at 1 cent 1 billion (we've beaten that, we're at 1.42 with 37 billion coins in free float), 10 cents (10 billion, possible), 1 dollar (100 billion, sounds inconceivable on present information).
  15. Using Shapeshift would be insane, somewhere closer to 50 per cent of your principle would be lost.
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