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Crypto31

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  1. Like
    Crypto31 got a reaction from NorCalguy in The way I see it...   
    I don't feel that you explained how XRP is "elite". 
    It has actually been terrible as an investment vehicle unless you happened to buy very early/at the perfect time. 
    A large majority of people would have been a lot better off buying stock in Apple, Alibaba, etc. the past few years. 
    My investments in the stock market are doing a lot better than XRP. 
    So, it may have a lot of potential. But I don't see how it's elite. Elite compared to other "digital assets"? Maybe. But that's not saying much at all. 
  2. Like
    Crypto31 reacted to fatlever in The way I see it...   
    It's faith based investing.  I feel like most of crypto is faith based investing because unlike traditional stocks there are ZERO fundamentals.  You luck out or someone lucks out and gains big, this reaffirms their faith and zealots point to that as proof that people who held on were rewarded.  
  3. Like
    Crypto31 reacted to XRP_to_20dollars in The way I see it...   
    For me personally, this is the 2 things that have got me into this mess with XRP. Greed and Arrogance. 
  4. Like
    Crypto31 got a reaction from AlejoMoreno in The way I see it...   
    I don't feel that you explained how XRP is "elite". 
    It has actually been terrible as an investment vehicle unless you happened to buy very early/at the perfect time. 
    A large majority of people would have been a lot better off buying stock in Apple, Alibaba, etc. the past few years. 
    My investments in the stock market are doing a lot better than XRP. 
    So, it may have a lot of potential. But I don't see how it's elite. Elite compared to other "digital assets"? Maybe. But that's not saying much at all. 
  5. Like
    Crypto31 got a reaction from CryptoJym in The way I see it...   
    I don't feel that you explained how XRP is "elite". 
    It has actually been terrible as an investment vehicle unless you happened to buy very early/at the perfect time. 
    A large majority of people would have been a lot better off buying stock in Apple, Alibaba, etc. the past few years. 
    My investments in the stock market are doing a lot better than XRP. 
    So, it may have a lot of potential. But I don't see how it's elite. Elite compared to other "digital assets"? Maybe. But that's not saying much at all. 
  6. Like
    Crypto31 got a reaction from XRP_to_20dollars in The way I see it...   
    I don't feel that you explained how XRP is "elite". 
    It has actually been terrible as an investment vehicle unless you happened to buy very early/at the perfect time. 
    A large majority of people would have been a lot better off buying stock in Apple, Alibaba, etc. the past few years. 
    My investments in the stock market are doing a lot better than XRP. 
    So, it may have a lot of potential. But I don't see how it's elite. Elite compared to other "digital assets"? Maybe. But that's not saying much at all. 
  7. Like
    Crypto31 got a reaction from KevClem in The way I see it...   
    I don't feel that you explained how XRP is "elite". 
    It has actually been terrible as an investment vehicle unless you happened to buy very early/at the perfect time. 
    A large majority of people would have been a lot better off buying stock in Apple, Alibaba, etc. the past few years. 
    My investments in the stock market are doing a lot better than XRP. 
    So, it may have a lot of potential. But I don't see how it's elite. Elite compared to other "digital assets"? Maybe. But that's not saying much at all. 
  8. Like
    Crypto31 got a reaction from XRPboi in "Ripple-backed MoneyGram strikes deal with Visa"   
    Isn't what I posted in the OP an announcement of what you posted actually going live?
    They are both Visa Direct and MG hooking into that. 
  9. Thanks
    Crypto31 got a reaction from BBS in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  10. Thanks
    Crypto31 got a reaction from mathesmith in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  11. Like
    Crypto31 got a reaction from aavkk in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  12. Like
    Crypto31 got a reaction from SquaryBone in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  13. Like
    Crypto31 got a reaction from EcneitapLatnem in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  14. Like
    Crypto31 got a reaction from Esprxp in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  15. Like
    Crypto31 got a reaction from xrphilosophy in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  16. Thanks
    Crypto31 got a reaction from at3n in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  17. Thanks
    Crypto31 got a reaction from PsyFlux in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  18. Like
    Crypto31 got a reaction from XRPboi in "Ripple-backed MoneyGram strikes deal with Visa"   
    Although this isn't massive news, I thought it was pretty encouraging: https://finance.yahoo.com/news/ripple-backed-moneygram-strikes-deal-134648796.html
    https://www.prnewswire.com/news-releases/moneygram-announces-new-debit-card-deposit-service-in-partnership-with-visa-300914094.html
     
    "MoneyGram—the money transfer company that Ripple has a $30 million stake in—announced yesterday a new debit card deposit service with Visa. The service, which works with Visa’s real-time payments platform, Visa Direct, will make it possible for MoneyGram customers to transfer money to over a billion Visa cards using MoneyGram."
    "Ripple bought a $30 million stake in MoneyGram back in June. At the same time, MoneyGram committed to using its xRapid service which utilizes its much-vaunted asset XRP. MoneyGram CEO Alex Holmes said, in a recent earnings call, that the money transfer giant was already using the cryptocurrency to make cross-border payments and that it was highly effective. 
    But will the new service utilize XRP?
    Well, in the past, Visa has made partnerships with crypto debit card companies only to later leave them in the dustheap. This would suggest that it wants to steer clear of any money that has ties to cryptocurrency. But, its recent partnership with Coinbase—which now offers a Visa crypto debit card—suggests that it is becoming more open-minded. And on top of that, Visa is investigating its own blockchain-based offering."
     
    It seems to me that the transition from traditional money to an Internet based system is inevitable. Also, it makes sense that something like BTC won't replace the entire financial system (banks, VISA, etc.).
    Ripple is positioning itself as a sort of conduit between the two (traditional finance & internet based finance), designing tools that allow the big players to transition to the new tech and still maintain dominance.
    I know I'm not telling you guys something you don't already know, but I thought this was interesting. 
  19. Haha
    Crypto31 reacted to itcdominic in Whats the downside to locking up XRP on Crypto.com to earn interest?   
    UPDATE****** 2 hours later I received my transferred XRP.....now must wait 85 days to see how my 3 month interest bearing account works out.
  20. Like
    Crypto31 got a reaction from GiddyUp in The Poker Analogy   
    Yeah, agreed. In poker and investing you have to remain unemotional. 
    You have to "play the odds" and make the decision that is best, knowing that you might lose in the short term. 
    It's consistently making the right choices over a long period of time that eventually equate to success. 
    Expecting an investment to take off immediately is unreasonable. I'm sure most of Warren Buffet's investments took years to show significant gains. 
    You have to hold knowing the underlying value is there. That is normal for any good investment. 
  21. Like
    Crypto31 reacted to Molten in The Poker Analogy   
    Just wanted to take a moment to expound on an interesting analogy that was made in another thread about poker.  Credit to @Spekul8 for smartly making a very apt metaphor that I think deserves its own thread.
    Just a bit of background, I am a somewhat avid online poker player as a hobby in my downtime (read: I have a full time real job).  Ironically, online poker has provided the only real life use case for BTC that I have utilized, as this is the easiest way to get money in and out of poker sites for US players.  (For our international friends, the US has a silly law that allows you to play poker in casinos but not online, at least for most states).
    Anyway, the analogy was made of holding a pair of aces (pocket aces) in Texas Holdem.  At this point, before the flop (when the first 3 community cards are dealt), you know unequivocally that you hold the best hand.  This is a mathematical truth and thus you can feel very confident about betting aggressively.  In the example that was given, however, the first 3 cards came out Queen, Jack and Two.  It was suggested at this point that your aces are no longer any good and that you would be making a foolish error to continue betting.  This is where the analogy starts to become more applicable to our current situation.
    Mathematically, you are still highly likely to have the best hand.  In fact, if you are smart, you are praying that one of your opponents holds AQ or AJ and will stick around long enough to pay you off with a nice pot win.  However, doubt can creep in at this point because the flop didn't explicitly HELP you.  Maybe one of your opponents has QJ... maybe J2... maybe QQ.  You could allow fear of the worst case scenario to scare you out of acting on what is mathematically still a very favorable hand.
    The point is that it can be very difficult to continue to be confident in something when doubt sets in.  It would be easy to play the above hand with great confidence if the flop came 2 J A, giving you three of a kind (a "set" in poker parlance), but this rarely happens.  Instead, you have to understand mathematically the odds of winning are in your favor with the top pair and play accordingly until you get firm evidence to the contrary.  This directly applies to our situation.  I think we all got into XRP because we believed it was the best cryptoasset, but we haven't flopped our proverbial "set" yet and thus it is easy to doubt.  But all of the news, objectively, is positive.  XRP WILL be used in large quantities, this is certain, at least by Moneygram.  Ripple and the other companies that are championing XRP continue to work to build on existing use cases and find new ones.  We are backing the most professional team in the crypto space. 
    Nothing is guaranteed, risk is everywhere, but the potential is almost limitless.  I think we are holding pocket aces.
  22. Like
    Crypto31 got a reaction from Molten in Can XRP be a ponzi?   
    Dude they are selling in order to fund their company. 
    Ripple probably has overhead in excess of $10 million per month in salaries alone.
    In theory it's all worth it, as they support the expansion of the XRP ecosystem.
    If it works they will look like geniuses, having used an asset that they created to raise huge funds without dilluting their equity.
  23. Like
    Crypto31 got a reaction from Viggo in Have We Hit Rock Bottom?   
    Obviously trying to pick the bottom or the top of any investment is a very difficult, if not impossible task.

    I understand that many smart people choose to ignore timing by dollar cost averaging, etc.

    And, I am by no means a professional trader or someone who studies technical analysis.
    Having said that, I do believe in paying attention to the market and trends and capitalizing when you can by buying near the bottom. Even long term investors like Warren Buffet talk about "being greedy (buying) when others are fearful", i.e. buying when the market is down and making good value purchases.
    Looking at the charts it seems like BTC and XRP are near a baseline. 

    BTC hasn't been this low since September 2017 from what I can see. And, besides the equally low points earlier this year, XRP hasn't been this low since December 2017 before the big run up. 

    So, do you think we have reached bottom? Or do you believe it will go lower? Will it be flat for an indefinite period? 
    If it were possible to spot a bottom, is this it, in your estimation? Why or why not?
    My personal take is that this is the bottom or very close to the bottom. If it it's not, it would mean the crypto and XRP market will die and revert to 2016 and prior prices. Since I think the fundamental future of these assets is good and the general market size and sentiment will improve, I don't see how they could revert to those previously low levels. I could see a long flat period, though. 
    Thanks for your input. 


  24. Confused
    Crypto31 reacted to XRPKronk in US Banks are Getting Frantic   
    Alright guys, its been a hell of a week for Ripple and crypto in general. We are witnessing the beginning of a banking revolution- its only going to get crazier as we head into 2020.
     
    PART 1: Let me start this post by telling you a conversation I had with my mother, an executive loan officer and branch manager of a regional bank in the south:
    After the usual mother/son conversation, I asked her how her job was going since she just came back from family leave. APPARENTLY....
    "The top executives are freaking out. The projections for loan income are completely off due to the FED announcement."
    If you're not in the US, basically the central bank wants to lower interest rates next month. The effect? Here is an excerpt from a Yahoo Finance article:
    https://finance.yahoo.com/news/fed-interest-rate-cut-horizon-121512567.html
    So, US banks will be struggling to make the quota for this fiscal half because the banks projected the rate to actually increase rather than decline. This meant that many banks gave adjustable rate loans to borrowers in hopes that the prime rate would increase over time. 
     
    PART 2: Responses from other banks have ranged from nonchalant to panic
    As you can imagine, banks want to keep a lid on their panic state. Most have released statements that say they were prepared for the rate decline. Some are in denial and think the FED will call back on its majority vote to cut the rate
    https://www.cnbc.com/2019/06/20/one-major-bank-is-holding-the-line-saying-the-fed-wont-cut-rates-this-year.html
    Once Goldman Sachs executive went all the way to say smaller banks are screwed 
    https://www.bloomberg.com/news/articles/2019-06-20/goldman-sachs-executive-says-legacy-retail-banks-are-screwed
    Based of the conversation with my mother, I would agree that the banks are concerned and stand to lose a lot of money. 
     
    PART 3: ENTER CRYPTO- Libra is announced, and the Moneygram Move
    Okay so, unless you live under a rock, the news this week has been amazing. Facebook announces Libra under much criticism.
    The announcement had a few effects:
    Whether you love it or hate it, it has helped bring crypto into the spotlight this week. All press is good press for crypto, that much is true.  Regulators have sprung into action. Already making statements about the regulation of Libra and crypto in general. (See quotes below) https://www.apnews.com/ee872c2a79494a1183866bd1dc9c9083
    https://www.cnbc.com/2019/06/20/facebook-libra-cryptocurrency-faced-with-central-bank-warnings.html
    https://cryptonews.com/news/fatf-decides-to-tighten-crypto-regulation-report-4092.htm
    There are plenty of other quotes, but i think this suffices.
    A final effect is that banks will be looking for an alternative or an edge against their competitors. Ripple and Xrapid already exist and has gone through extensive trials over the past 5 years.  Brad Garlinghouse has already made the statement that Ripple has has a "record week" due to the Libra Announcement:
    BOOM- Thank you, Facebook.
    Ripple is also in the spotlight for the Moneygram Deal. MoneyGram's Stock rose over 150% and huge announcements for new corridors were made as moneygram is expanding their footprint in India. 
    Ripple is making other moves as SBI Remit and SCB Thailand are featured in their Paying Forward promo videos (check twitter, i'm too lazy at this point to embed them lol)
     
    Conclusion
    TLDR: Banks are hurting from the potential FED rate drop and crypto appears this week to banks as a way to cut costs. 
    The financial transformation is on the horizon and is approaching fast!
     
    If your read all that, congratulations. You're amazing!
     
  25. Like
    Crypto31 reacted to Valhalla_Guy in XRP NAME MEANING and should it be changed   
    My apologies, I was being conservative in my estimate. It was actually 11 months ago.
    July 6th, 2018: V- Guy said:
    My quess is RP (now) stands for “Rapid Payments”  Any others have an idea of what RP stands for?
    I do not know how to add a link to my original post, but it’s there.
    I will give you the “Extreme” portion (with proof) and then we can split royalties 33/67
    👌
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