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Kalarie

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  1. Like
    Kalarie got a reaction from Dorth_Vader in I'm out.   
    I understand where you're coming from.  I mean, any rational, normal person wouldn't smoke weed, drink alcohol, eat McDonalds, gamble for a living....etc.  And that is where you run into a fundamental flaw in economics, people are not rational, normal, long-term thinkers.  They are not collectively highly educated and fully aware of all of the risks.  I know I've seen posts in this forum from a couple folks in India that threw their life savings into XRP expecting greatness.  That country watches tv on their phones, and the vast majority of people don't even get to access the internet.  Those folks making those posts were either lying about who they were, or never understood the risks that you're assuming the 'normal' person understands when they buy cryptos. 
    I grew up, and still live in a community where having a Master's feels like barley enough to get an entry level job.  There are tons of people around me who are very well educated, strategic thinkers, and don't qualify as accredited investors that could probably effectively mange the money if they did qualify.  However, I've also made plenty of business trips into the heart of West Virginia, and Southeastern Georgia, downtown Chicago, and New York, etc.  Places where the education system simply passed people by, and there are far more of those people than there are people with solid educations in finance, or even college educations period.  The last time I helped coach hiring practices for a retailer was in Austin TX, about has highly educated per capita you can get.  The retailer wanted to hire cashiers, but they had a simple problem, out of every 100 people that applied, only 1 was passing the math portion of the automated application system.  Math that was just addition and subtraction with decimals.  It was such a problem they decided the best solution was to program the registers to spit out the change instead of having the cashiers add it up.  That my friend, is closer to the 'normal' person in this world.  If you can't do basic math, you won't understand the actual risks versus reward situation with crypto, and since you don't understand it, you shouldn't be throwing your life savings into it.
    That's a very painful statement for me to type because it flies in the face of the natural rights philosophies I grew up on, but giving uneducated masses easy access to make very risky decisions with their wealth always leads to one thing, wealth concentration, exactly what's behind your complaint about accredited investor barriers.  Remove those barriers and the argument shifts from the barriers keeping the people down, to unequal education, to un-level playing field via inherited wealth, to unfairness based on the IQ you're born with....etc.  It'll always be another excuse.
    The "accredited investor" barriers feel like they are set up to keep people un-wealthy because you're educated enough to even know that those barriers exist, and if your had the ability to meet those requirements (which you might, I don't know), you are probably going to make rational investing decisions.  That level of financial understanding and competence is simply not the norm.
  2. Like
    Kalarie got a reaction from jbjnr in I'm out.   
    I understand where you're coming from.  I mean, any rational, normal person wouldn't smoke weed, drink alcohol, eat McDonalds, gamble for a living....etc.  And that is where you run into a fundamental flaw in economics, people are not rational, normal, long-term thinkers.  They are not collectively highly educated and fully aware of all of the risks.  I know I've seen posts in this forum from a couple folks in India that threw their life savings into XRP expecting greatness.  That country watches tv on their phones, and the vast majority of people don't even get to access the internet.  Those folks making those posts were either lying about who they were, or never understood the risks that you're assuming the 'normal' person understands when they buy cryptos. 
    I grew up, and still live in a community where having a Master's feels like barley enough to get an entry level job.  There are tons of people around me who are very well educated, strategic thinkers, and don't qualify as accredited investors that could probably effectively mange the money if they did qualify.  However, I've also made plenty of business trips into the heart of West Virginia, and Southeastern Georgia, downtown Chicago, and New York, etc.  Places where the education system simply passed people by, and there are far more of those people than there are people with solid educations in finance, or even college educations period.  The last time I helped coach hiring practices for a retailer was in Austin TX, about has highly educated per capita you can get.  The retailer wanted to hire cashiers, but they had a simple problem, out of every 100 people that applied, only 1 was passing the math portion of the automated application system.  Math that was just addition and subtraction with decimals.  It was such a problem they decided the best solution was to program the registers to spit out the change instead of having the cashiers add it up.  That my friend, is closer to the 'normal' person in this world.  If you can't do basic math, you won't understand the actual risks versus reward situation with crypto, and since you don't understand it, you shouldn't be throwing your life savings into it.
    That's a very painful statement for me to type because it flies in the face of the natural rights philosophies I grew up on, but giving uneducated masses easy access to make very risky decisions with their wealth always leads to one thing, wealth concentration, exactly what's behind your complaint about accredited investor barriers.  Remove those barriers and the argument shifts from the barriers keeping the people down, to unequal education, to un-level playing field via inherited wealth, to unfairness based on the IQ you're born with....etc.  It'll always be another excuse.
    The "accredited investor" barriers feel like they are set up to keep people un-wealthy because you're educated enough to even know that those barriers exist, and if your had the ability to meet those requirements (which you might, I don't know), you are probably going to make rational investing decisions.  That level of financial understanding and competence is simply not the norm.
  3. Thanks
    Kalarie got a reaction from Tinyaccount in I'm out.   
    "We can agree to disagree, but we don't need to be disagreeable." - John Wooden
    You're a great example of a thoughtful person @Tinyaccount.  I have nothing but respect.  I hope you get your chance to blow way past the accredited investor barriers, and the sooner the better.  #XRPtheStandard
  4. Like
    Kalarie got a reaction from Roaring_Twenties in I'm out.   
    "We can agree to disagree, but we don't need to be disagreeable." - John Wooden
    You're a great example of a thoughtful person @Tinyaccount.  I have nothing but respect.  I hope you get your chance to blow way past the accredited investor barriers, and the sooner the better.  #XRPtheStandard
  5. Like
    Kalarie got a reaction from ZzZerper in I'm out.   
    I understand where you're coming from.  I mean, any rational, normal person wouldn't smoke weed, drink alcohol, eat McDonalds, gamble for a living....etc.  And that is where you run into a fundamental flaw in economics, people are not rational, normal, long-term thinkers.  They are not collectively highly educated and fully aware of all of the risks.  I know I've seen posts in this forum from a couple folks in India that threw their life savings into XRP expecting greatness.  That country watches tv on their phones, and the vast majority of people don't even get to access the internet.  Those folks making those posts were either lying about who they were, or never understood the risks that you're assuming the 'normal' person understands when they buy cryptos. 
    I grew up, and still live in a community where having a Master's feels like barley enough to get an entry level job.  There are tons of people around me who are very well educated, strategic thinkers, and don't qualify as accredited investors that could probably effectively mange the money if they did qualify.  However, I've also made plenty of business trips into the heart of West Virginia, and Southeastern Georgia, downtown Chicago, and New York, etc.  Places where the education system simply passed people by, and there are far more of those people than there are people with solid educations in finance, or even college educations period.  The last time I helped coach hiring practices for a retailer was in Austin TX, about has highly educated per capita you can get.  The retailer wanted to hire cashiers, but they had a simple problem, out of every 100 people that applied, only 1 was passing the math portion of the automated application system.  Math that was just addition and subtraction with decimals.  It was such a problem they decided the best solution was to program the registers to spit out the change instead of having the cashiers add it up.  That my friend, is closer to the 'normal' person in this world.  If you can't do basic math, you won't understand the actual risks versus reward situation with crypto, and since you don't understand it, you shouldn't be throwing your life savings into it.
    That's a very painful statement for me to type because it flies in the face of the natural rights philosophies I grew up on, but giving uneducated masses easy access to make very risky decisions with their wealth always leads to one thing, wealth concentration, exactly what's behind your complaint about accredited investor barriers.  Remove those barriers and the argument shifts from the barriers keeping the people down, to unequal education, to un-level playing field via inherited wealth, to unfairness based on the IQ you're born with....etc.  It'll always be another excuse.
    The "accredited investor" barriers feel like they are set up to keep people un-wealthy because you're educated enough to even know that those barriers exist, and if your had the ability to meet those requirements (which you might, I don't know), you are probably going to make rational investing decisions.  That level of financial understanding and competence is simply not the norm.
  6. Like
    Kalarie got a reaction from Caracappa in I'm out.   
    Oh I wasn't calling out anyone on here in particular.  Honestly, I don't know the personal story behind each one of you well enough to know if your personal investment is painful or not.  I was just referring in general to people that for one reason or another viewed XRP as a no risk way to quickly increase the value of their money and retire well.  There are people on this forum that come across that way, and several of them make the same comments of people that I do know in real life who are not financially educated, and have unreal expectations of the markets and the risk that their various investments carry.  I know several people in my workplace alone that were talked into buying cryptos when I did.  There was a guy in another department that thought it would be fun for us to start a small social group, each pick some cryptos to invest in that we liked, put a small bit of money in, and then keep up with the businesses over time as a way to discover and learn about the blockchain technology and how it was being used.
     
    The original idea of the social group was awesome, and fun, and carefree.  We had great discussions over a few lunches.  Then, 3 months in, the market is rolling, I'm the only one with XRP, and one of the guys starts talking about how he is building a mining machine to 'make money' for 'free.'  Then the conversation goes to another guy who admits that he's been flipping his crypto holdings between different currencies all this time, and he's been making 'a killing' (note: all cryptos were rising at the time).  Before long the whole group was uber excited about buying into coins they hadn't researched, talking about how they felt like they were a micro VC fund, and how they were all going to make a ton of money off an 'investment' that we all originally planned to be only a conversation piece about a technology that we didn't understand. 
     
    I'm an economist.  I've worked in finance for a long time.  I immediately tried to reel everyone back in.  I talked about the tax implications of flipping between coins, the risk versus reward metrics, the history of prolonged droughts for BTC, etc.  It didn't matter.  Good people, who thought they found a foolproof way to make money, pumped way too much of their money into the coins.  They higher the values got, the more the bought, driving their DCAs up.  2019 came, and to a person they basically lost it all.  There is no more social group.  Only one of them even talks to me about the coins.  The miner is $30K in debt on equipment, and can't afford to run them cause of the electricity cost.  Everyone else either ate the tax bills, or sold out to declare the losses against the taxes for next year.  Those are the people I feel sympathy for.  People who should not be playing in this market to begin with, but don't understand why they shouldn't.  People without the education and training.
     
    And I know probably 90% of the forum will say something to the effect of "We shouldn't feel sorry for other people's dumb decisions..." or "Even if they didn't study finance you warned them and you turned out ok.." (which I did).  However, there is a reason the average Joe isn't allowed to walk down to the floor of the NASDAQ and trade like a series 6 license holder, or trade on margin, or be a VC funder, etc.  There are rules that either require you to demonstrate extreme financial competence, or enough collateral to be able to afford to take those kinds of risks.  We should feel lucky that we can buy into ICOs and cheap crytpos right now.  We have a rare chance to take on risk that would never normally be afforded to us legally, and for some of us that will pan out to great rewards.  But when the crypto market matures, don't be surprised when the average Joe's of the world aren't allowed to invest in it at this risk level because if we're being honest, the average Joe should not be investing in it.  It should be gated just like other extremely risky investing opportunities are.
  7. Like
    Kalarie got a reaction from GiddyUp in I'm out.   
    There is definitely a lot of evidence that Ripple the company is in a heavy growth mode and making great strides, and probably doing very well financially.  I just wish someone from Ripple like @JoelKatz would shed some light on the roadblocks remaining in the path of Ripple's partners, clients, banks, etc. to using XRP. 
     
    I'm sympathetic to the folks that bought high and lost $, or bought XRP to try and flip it as a short term investment.  I get the pain from your point of view.  I bought XRP once, I only plan to sell once, and the price on my sell date (Jan 2029) doesn't matter, so I'm not here to spread FUD or to give out hopium.  I just hope y'all can reach a place where the conversations on Ripple and XRP remain professional, with the occasional bits of humor.  Don't allow an 'investment' in crypto be something that makes or breaks your life.  That's too much stress to bear.
  8. Like
    Kalarie got a reaction from xrphilosophy in I'm out.   
    There is definitely a lot of evidence that Ripple the company is in a heavy growth mode and making great strides, and probably doing very well financially.  I just wish someone from Ripple like @JoelKatz would shed some light on the roadblocks remaining in the path of Ripple's partners, clients, banks, etc. to using XRP. 
     
    I'm sympathetic to the folks that bought high and lost $, or bought XRP to try and flip it as a short term investment.  I get the pain from your point of view.  I bought XRP once, I only plan to sell once, and the price on my sell date (Jan 2029) doesn't matter, so I'm not here to spread FUD or to give out hopium.  I just hope y'all can reach a place where the conversations on Ripple and XRP remain professional, with the occasional bits of humor.  Don't allow an 'investment' in crypto be something that makes or breaks your life.  That's too much stress to bear.
  9. Like
    Kalarie got a reaction from Tinyaccount in I'm out.   
    There is definitely a lot of evidence that Ripple the company is in a heavy growth mode and making great strides, and probably doing very well financially.  I just wish someone from Ripple like @JoelKatz would shed some light on the roadblocks remaining in the path of Ripple's partners, clients, banks, etc. to using XRP. 
     
    I'm sympathetic to the folks that bought high and lost $, or bought XRP to try and flip it as a short term investment.  I get the pain from your point of view.  I bought XRP once, I only plan to sell once, and the price on my sell date (Jan 2029) doesn't matter, so I'm not here to spread FUD or to give out hopium.  I just hope y'all can reach a place where the conversations on Ripple and XRP remain professional, with the occasional bits of humor.  Don't allow an 'investment' in crypto be something that makes or breaks your life.  That's too much stress to bear.
  10. Haha
    Kalarie reacted to RegalChicken in I'm out.   
    a LOT.
     
    But they pay in XLM.
  11. Like
    Kalarie reacted to Julian_Williams in Brad Garlinghouse at Bloomberg (BoA patent & NDA) - 22/07/2019   
    Yes, for a long while they have been playing it close to their chest and they don't give much away, yet if Brad makes even a generalised comment he is afterwards constantly criticised for blabbing.  The only metrics we really have are the growing army of employees in a growing network of offices around the world.    All those new staff in places like India and Brazil are needed to do jobs that were not there before.  Also it is noticeable that the big names they have attracted do not up sticks and leave after 18 months, (except for Cory Johnson who was not really much of an expert at anything other than being a familiar TV face).  
  12. Like
  13. Like
    Kalarie reacted to Uloveme in PayPal fires up “Ripple-killer” Xoom app for international payments [Yahoo Finance]   
    The fact that they use the term "Ripple killer" sounds very positive to me. In the video games industry the same thing happened to World of Warcraft, for a decade after its release basically any MMORPG that was being developed was supposed to be "the World of Warcraft killer". Using these terms confirm that Ripple/XRP is the benchmark and it looks like that it will remain that for a long time.
  14. Like
    Kalarie reacted to Roaring_Twenties in Tracking sells of XRP from Ripple through CryptoWinter   
    Yeah.... that’s the ticket...it’s all a giant Ponzi. The team that’s credited for working with banks is now credited with being a bunch of crooks targeting us individual investors. That seems unlikely to me. Could be, but I don’t buy that theory.
    Have they always been forthcoming? I’ll say no...but they are human and they are in an extremely competitive space so not showing all their cards and teaching their complete competitive strategy to everyone who’s interested is...probably expected.
    I mean let’s pause and look. Let’s look at the board of directors. Let’s see who we think are the next Team Madoff: https://ripple.com/company/board-of-directors/
    Now let’s review the leadership team. https://ripple.com/company/leadership/ 
    What do you see? I see smart, hard working people. Bright people with varied professional backgrounds. People focused on updating the method of transferring value across all borders effectively and efficiently. Exposed and open people. People with families. And let’s remember the popular young staff in San Francisco and the rest of the team around the world. People like Dilip Rao who’s known for straight talking. But maybe I’m easily fooled.
    But like you said @YourAverageJoseph, how would they all hide if it’s all just a scam. And how could so many people all keep the lie a secret? Probably not what we’re experiencing.  Maybe it’s something else.
    So what are we experiencing? What’s keeping the price down? And if people here are right on Ripple keeping it low, why? What’s it going to take to make XRP a value so great it becomes as easy to buy a home with XRP as it is with BTC today?
    I’ve said regulatory hurdles like the SEC in the US and elsewhere, and I still think that’s an issue for banks and possibly other applications. I’ve said it’s just a matter of time to grow RippleNet and expand the network that’s currently using xCurrent. I’ve supported other theories for the delay. But what if it’s all these and something else? Something not “planned” but something unplanned yet predicted and or expected that’s actually in their battle plan? Something big enough and powerful enough to move the mountains of resistance?
    A massive lack of confidence in fiat for example. The US and China are having a bit of trade war. This is likely in the news no matter what country you’re in. But I think it’s not going to produce much of anything good for the US and Trump is likely to elevate the stakes and have some sort of “currency” war. What the heck does that mean? I think it’ll be a race to devaluation and it won’t just be against the yuan but it’ll be against the euro and others. The thought by Trump is the USD is too strong and Trump wants to “level the playing field”. Maybe this is what he means when he talks about leveling the playing field.
    If so this could lead to a lot of people in lots of countries with a lack of confidence in their fiat. Banks and governments start loosing value. Now they’re both motivated. Banks are ready to begin taking risk because it’s taking more nostro vostro not less. They’re getting desperate as their governments are likely unable to do anything good for them bailout wise. Government officials see their own wealth deteriorating so they’re now suddenly ready to make a rush move on regulatory clarity because fiat’s failure is costing them too much. They all now act to save their own skin. "Greed is good", a catchphrase by Gordon Gekko from the 1987 film Wall Street comes to mind.
    Suddenly cryptos look real good. A lot of cryptos would likely see fiat swelling into them and, as the exodus from fiats intensifies, we now have an environment for xRapid and XRP usage and, with a rising value, greater liquidity...we have a progression from the age of fiat to the age of crypto confidence. From the flames of a the failed fiat experiment to the new global experiment in crypto. Maybe it’s a confidence crisis in fiat that becomes the trigger. Maybe this is what takes the shackles off. If it is, isn’t the best thing Ripple can do is just keep building?
    Okay... I’ll remove my tin foil hat now and slowly back away... 
  15. Thanks
    Kalarie got a reaction from Finesse in Tracking sells of XRP from Ripple through CryptoWinter   
    Actually, this point is why I thought they might be giving away XRP so much.  Assuming the math is right, and bank adoption makes the price of each XRP moon, that would represent a massive wealth transfer on paper, which could be come real if Ripple sold their holdings.  It's certainly the most extreme profit margin for a company I have ever seen.  I'm 99% certain that behind the scenes world leaders, banks, other commercial entities are trying to find a way not to have the suggested wealth transfer on paper even potentially become real, and one way to do that would be to give away the underlying asset to as many people as possible before allowing it to appreciate to absurd levels.  They won't adopt XRP unless Ripple divests of it.
    But if that is the thinking, I really hope Ripple makes one of those transfers to my wallet lol.  I actually have a charitable project based on future energy technology that I'd like to donate it to.
  16. Like
    Kalarie got a reaction from Roaring_Twenties in Tracking sells of XRP from Ripple through CryptoWinter   
    Actually, this point is why I thought they might be giving away XRP so much.  Assuming the math is right, and bank adoption makes the price of each XRP moon, that would represent a massive wealth transfer on paper, which could be come real if Ripple sold their holdings.  It's certainly the most extreme profit margin for a company I have ever seen.  I'm 99% certain that behind the scenes world leaders, banks, other commercial entities are trying to find a way not to have the suggested wealth transfer on paper even potentially become real, and one way to do that would be to give away the underlying asset to as many people as possible before allowing it to appreciate to absurd levels.  They won't adopt XRP unless Ripple divests of it.
    But if that is the thinking, I really hope Ripple makes one of those transfers to my wallet lol.  I actually have a charitable project based on future energy technology that I'd like to donate it to.
  17. Like
    Kalarie got a reaction from XRPboi in Tracking sells of XRP from Ripple through CryptoWinter   
    Actually, this point is why I thought they might be giving away XRP so much.  Assuming the math is right, and bank adoption makes the price of each XRP moon, that would represent a massive wealth transfer on paper, which could be come real if Ripple sold their holdings.  It's certainly the most extreme profit margin for a company I have ever seen.  I'm 99% certain that behind the scenes world leaders, banks, other commercial entities are trying to find a way not to have the suggested wealth transfer on paper even potentially become real, and one way to do that would be to give away the underlying asset to as many people as possible before allowing it to appreciate to absurd levels.  They won't adopt XRP unless Ripple divests of it.
    But if that is the thinking, I really hope Ripple makes one of those transfers to my wallet lol.  I actually have a charitable project based on future energy technology that I'd like to donate it to.
  18. Like
    Kalarie got a reaction from VanHasen in Tracking sells of XRP from Ripple through CryptoWinter   
    Actually, this point is why I thought they might be giving away XRP so much.  Assuming the math is right, and bank adoption makes the price of each XRP moon, that would represent a massive wealth transfer on paper, which could be come real if Ripple sold their holdings.  It's certainly the most extreme profit margin for a company I have ever seen.  I'm 99% certain that behind the scenes world leaders, banks, other commercial entities are trying to find a way not to have the suggested wealth transfer on paper even potentially become real, and one way to do that would be to give away the underlying asset to as many people as possible before allowing it to appreciate to absurd levels.  They won't adopt XRP unless Ripple divests of it.
    But if that is the thinking, I really hope Ripple makes one of those transfers to my wallet lol.  I actually have a charitable project based on future energy technology that I'd like to donate it to.
  19. Like
    Kalarie got a reaction from Julian_Williams in Tracking sells of XRP from Ripple through CryptoWinter   
    Actually, this point is why I thought they might be giving away XRP so much.  Assuming the math is right, and bank adoption makes the price of each XRP moon, that would represent a massive wealth transfer on paper, which could be come real if Ripple sold their holdings.  It's certainly the most extreme profit margin for a company I have ever seen.  I'm 99% certain that behind the scenes world leaders, banks, other commercial entities are trying to find a way not to have the suggested wealth transfer on paper even potentially become real, and one way to do that would be to give away the underlying asset to as many people as possible before allowing it to appreciate to absurd levels.  They won't adopt XRP unless Ripple divests of it.
    But if that is the thinking, I really hope Ripple makes one of those transfers to my wallet lol.  I actually have a charitable project based on future energy technology that I'd like to donate it to.
  20. Haha
    Kalarie reacted to Ripple-Stiltskin in Convince me to keep my XRP   
    I’m different though. 
    I’m in the wrong coin without any fundamentals but by pure luck and stars alignement I’ll be rich two years from now. 
     
  21. Like
    Kalarie reacted to Spekul8 in Convince me to keep my XRP   
    If you go to the forums online that are dedicated the first 20 most capitalized coins, they all have the same "symptoms"
    1) The fanatics that call every bit of reality "FUD" 
    2) The ones who love to average down and call it fundamentals 
    3) The ones who bet their hope on the future (I am holding it "long term") 
    4) The ones who jump from one coin to another 
    5) The frsurated who complain that they invested in a $hit coin 
    6) The ones who turn every bit of bad news to positive news 
    7) The ones who ask about unrealstic price when the price is frozen  
    8) The ones who scream not to sell at the bottom 
    ..and every forum member is convinced that their stash is the one who is going to make it. In reality, specualtion in coins has caused more financial harm than any other asset because of its easy accessability.  
    90's had the .COM 
    The 2000's had their 2008 
    This decade it's the coins.  
     
     
  22. Thanks
    Kalarie got a reaction from RippleGambler in New Prediction Game for the 4 quarters of 2019, please write your prediction.   
    I have $0.413 as the final price on 6/30 so congrats to:
    @PactaSuntServanda for predicting $0.40
    And
    @RippleGambler for $0.42
    On to September!
     
  23. Thanks
    Kalarie got a reaction from Quaed in New Prediction Game for the 4 quarters of 2019, please write your prediction.   
    I have $0.413 as the final price on 6/30 so congrats to:
    @PactaSuntServanda for predicting $0.40
    And
    @RippleGambler for $0.42
    On to September!
     
  24. Thanks
    Kalarie got a reaction from XRPboi in Why XRP will NOT succeed   
    That is a great question, and is how this thread should've started.  Based on the current use case position, I would be inclined to think that FIs would eventually like XRP to be just between themselves, which makes it a good idea to get an account early.  However, if there is ever a retail use case scenario, then the floodgates open to everyone needing the ability to have a wallet, and the deposit reserve would naturally come down by popular demand.  All it takes is one of the FIs to transact with retail customers using a payment channel that runs on ripple and XRP, and competition will drive the adoption from there.  Either way, I think the intention of XRP in the long term is to find a price and adoption level that works for being a true medium of exchange, and not be a long term investment.  I just don't know what that price level is, and until it gets there XRP could be a great speculative investment.  After it gets there XRP could also be a great alternative to hold when you're worried about local inflation rates.
  25. Haha
    Kalarie reacted to Zerponaut in I’m out   
    I hope you haven't lost money and I also hope you regret your decision to sell. 
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