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hodlefer's Achievements

  1. Of all the exchanges out there bitfinex is literally the last one I would use. I wouldn't go anywhere near it if I were you.
  2. If you’re planning on holding (not day trading) I wouldn’t keep my coins on any exchange. You are much more exposed to hacks, and if bitstamps servers or dev team get destroyed by an earthquake your tokens are lost. I would rather have them in a safe place I control.
  3. Oh ****. It's about to get real
  4. Basically yes. Except the idea of cashing out tethers isn’t real. They have changed their documentation and disclaimer to say that USDT are not redeemable for USD
  5. If people hold their funds on an exchange they are breaking rule #1 of crypto investing. This post does not change the fact that they should know that. This post isn’t trying to delay the crash, I don’t know where you saw that in what I wrote... This post is saying that when the crash happens it’s not going to be the end of the world and XRP is going to survive and thrive. So accumulate and hodl instead of panic selling
  6. Because the value of XRP would adjust. If you double the amount of XRP that exists people would value it as less than before the printing. USDT is valued at $1 no matter how much they print.
  7. Again, this thread is not intended to be a "Why is tether bad?" debate. If you don't see a problem with tether than great, don't post here. This is intended to be for those people who do see a problem and have begun to stress about it. So if we could refrain from the debate over whether Tether is a problem that would be awesome.
  8. Correlation does not imply causation, but these charts are highly correlated. Look at the market cap of tether(blue in first chart) and price of BTC (second chart). This is for 2017-present.
  9. I don't want to go too far in depth about why tether is a problem in this thread. But here is a reddit thread that will explain it in detail if you have the time: https://www.reddit.com/r/Bitcoin/comments/6ypy58/the_truth_about_bitfinex_and_tether/ Sparknotes version is that Tether is created by Bitfinex and then used to buy BTC. So they print $100,000,000 in USDT and buy $100,000,000 worth of BTC without any new money entering the ecosystem. Driving the price of BTC up with buy pressure that should not exist.
  10. This is why I plan to do some dollar cost averaging when things get low and it may never drop below $1 or $.50, we just don't know. Remember that time you thought "man, I wish I had bought more in November when the dips were around $.15", well if you still believe in the tech and the company you would be crazy not to buy more at the bottom, wherever that may be.
  11. While I agree with your message, it sounds a little frantic and panicky, which the whole point of this post is that panic is not necessary and will only cause poor decision making. Yes, if you store your zerps on an exchange that used USDT (or any exchange in general honestly) you should go ahead and move them to Toast or some other off exchange wallet. As these exchanges will likely experience unprecedented volume in the case of a large crash and could possibly fail. That being said don't panic, read the initial post and repeat after me: "accumulate and hodl"
  12. I can see where you are coming from, it would definitely put a strain on institutional confidence. But another thing to think about is that a large public crash, especially caused by criminal activity, will likely bring regulation to the space. XRP is by far the cryptocurrency best positioned to handle regulation, which will help keep those partners feeling safe.
  13. As most of you probably have read by now, Tether is becoming a scary situation. There is speculation that they have been printing counterfeit money to the tune of 2 billion dollars, and injecting it into the market to inflate prices. That 2 billion dollars is also speculated to have inflated BTC 50-80% because in reality only $10 billion of fiat has been invested into the crypto market to date. Because of this, some articles have come out to say that when Tether collapses, BTC will retreat back around $1000 and the rest of the market will come with it. I have been losing sleep at night lately because I honestly believe this to be true. The numbers add up, and USDT is really bad news. But I also had a thought this morning that put me at ease: It doesn't matter... Cryptocurrency is officially out of the bag, and it is becoming easier and easier for investors to get involved. If there has only been $10 billion invested in crypto to date, and even if $2 billion of that was Tether's funny money, that $2 billion isn't going to matter when $100 billion has been invested. Even a couple small hedge funds getting involved could easily pump billions of dollars of real inflow into the market. Now think about when Goldman Sachs opens their crypto trading desk. Robinhood alone has a cryptocurrency waiting list 800,000+ long, and they contain a tiny fraction of the investors in the US alone! I can see the amount of money being invested in crypto this year alone easily being in the hundreds of billions as the barrier to entry becomes equal to that of the stock market. And oh yeah, this is a global market. Japanese, Koreans, Russians, Germans, Brazilians, Americans; We are all in the same market and there is a ton of money out there. Bubbles burst, and people are going to lose a lot of money when our crypto bubble pops. But like the Dot Com bubble in 2000, plenty of companies will survive and thrive. The NASDAQ didn't go anywhere. Neither did Apple, Amazon, Google, Paypal, or Microsoft. Innovators, companies with a clear focus, and companies with great teams will rise from the ashes stronger than ever, and we fit all of those categories perfectly. So when Tether takes a sh*t and everyone on reddit and xrpchat is saying that crypto is done forever, just quietly accumulate and hodl. The market is going to come back stronger and XRP will look like a very attractive investment as it will have real institutional uses and partnerships. Cheers
  14. So true. I feel like people in here now weren’t around to watch XRP trade sideways and downwards after the Amex partnership announcement. News doesn’t effect prices as much as rumors do sadly
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