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Everything posted by dr_ed

  1. I saw this and agree it's an interesting development. I'm grateful for those like Galgitron (and Jenna) who track this stuff. Thanks so much for posting.
  2. When I was his age I was back in school after a drop-out stint that lasted a couple of years. I made a union wage, which at that time was a whopping $7 an hour, lol. I had to consider whether to leave the relative security of a retirement plan from a big corporation and good medical bennies....I thank my lucky stars that working with molten metal in a foundry that was well over 100 degrees F did not become my life's work. I make more money in a year than my father made in 20 years doing what I might have done. It's funny how things work out. While I worship entrepreneurship just like you do, and hustle, and hard work...the truth is that those who do invest in XRP at 25 are liable to do just fine, maybe without working quite as hard as you did, or I did. I went to school until I was over 32 (and already had my first two kids) and then I bootstrapped my way to a decent level starting with absolutely nothing. I even had a 20K student loan which seemed huge at the time. And I'm proud of what I did. But on investing to earn passive income, I started pretty late. By starting early, these young guys are going to do better than I did.....IF...and only if, they can set these excellent goals I hear them making and stick to them. That's the hard part.
  3. If you keep plugging the way you're doing at 25, you will succeed beyond your wildest dreams. Just do what you're already doing, and do a little more when you start to be a little better off. Most people your age fail for the wrong reasons.....frustration and impatience are easy to give in to. People spend their nest egg on something they DON'T need. Car, trip to Timbuktu, etc. Or other pitfalls. Divorce and substance addiction run high among even the smartest people. Learn to meditate. Do Yoga. Baka, I want to write a book about investing that says some things I've never read in any book. One principle that I have discovered, that I never read in any of the dozens of money books I ever looked at.....is a very simple principle that I think is very important. "People who invest in something (almost anything) tend to do much better financially in life than people who don't." Most people wait...for the good job that flows the extra money....for the company that will fund the 401K...for just the right opportunity.....and as they go through life doing nothing to prepare for their old age.....and depending on the kindness of strangers, more or less......they develop a long string of excuses about why other people are rich and they are still poor. Most of them become socialists these days, and die broke. (That's meant to be a joke, except it's true. LOL.) And don't worry so much about missing out on LTC or anything else. Even at my age and with my slightly higher budget, I still feel the same way you do....... like I see opportunities I could take advantage of if I just had a LITTLE more money to invest. But you can't buy 'em all. We do have to save a little for dinner and practical things. There is a balance.
  4. I read about this. Very interesting, especially the way they're trying to spin it as a good thing...an act of good governance by "the management". Run, run way fast....lol.
  5. Which is certainly the most rational way to assess the long term value of these coins, for sure. And I really wouldn't buy all the coins on that list.....I know they aren't all great projects .BUT....it could be argued that most of them are beaten down price-wise even worse than XRP, and for the same reason.....total supply. I won't buy DogeCoin, but I do own Cardano, which is looking better all the time, although the pace of development is a bit slower than I'd like. When I look at HOW Cardano operates, and the vision of their team, I tend to think they'll rule the world someday. The supply numbers won't matter. VeChain is also connecting all the dots. Tron? Well, I see plusses and minuses there...but I do expect them to succeed. Holo will probably moon, because it's so cheap and it's an interesting outlier. Everybody's favorite lottery ticket. I don't own it for the same reason I don't buy lottery tickets. Pundi X? Looked interesting until Mr. Modhi declared war on cryptos. They pay a lot for staking, I believe. Stellar...three little letters....IBM...that makes it interesting to a lot of people. Bittorrent is a real wild card. I would not buy it either, but it could become the world's most widely used utility token. The others aren't even on my radar..... The thing I was getting at is that you can sometimes successfully arbitrage a small position into a large position by understanding exactly what you said. What is the use case? And.....if there is a great use case, and the coin is dirt cheap because if some other thing, like a perception (probably wrong anyway) of oversupply, then you have a unique opportunity to use your good information, which is not acknowledged by market price, to buy in at what will ultimately be a huge discount. This is a part of the calculus that led me to make XRP my first substantial position in the crypto space, and why it remains nearly 45% at the moment. And it's part of why I own ADA, VET, TRX, and even little BTT (okay I got it for free in the airdrops, lol).
  6. Everyone is entitled to his or her opinion. Right now it looks to me like LTC might possibly break out.. I like to watch breakouts the way some people like to watch football games. It'll be fun to see if it happens. Useless? Less important to a hodlr like me than it is to a trader, for sure, but far from useless.
  7. Leaving is probably premature. Reconsider after the beers and some R&R. Lovely view. Enjoy your fishing, regardless. I keep intending to buy a damn fishing license. You don't get any do-overs in this life . At least I'm getting the boat painted...although I'm waiting on paint. I was hoping it would arrive before the weekend, but looks like no.
  8. Twitter is a sewer, but my only impression comes from this thread. I'm sure you felt justified, but to the causal observer (me) you sounded like a troll. I doubt you furthered your cause much. Social media, generally speaking, is a recipe for groupthink, as you seem to have found out. It's a blight on the land.
  9. We certainly COULD, but I'm not sure we're even headed down. The last couple of days the charts have been pretty much in uncertain territory, just going sideways without much volume most of the time. Shaky ground.
  10. Friday afternoon low volume melt-ups on LTC and BTC are making me nervous in the service. If we get some volume from somewhere we could start another good run...but it looks bearish to me.
  11. An obvious market niche that has yet to be filled. Probably a security token, I'm thinking.
  12. Dollar cost averaging is also proven to be inferior to inheriting vast sums of money from a dead relative. But SAYING that I dollar cost average makes me feel better about not HAVING a lump sum. And buying sub-penny alt coins makes me feel like I'm investing a big lump sum every week or two.
  13. Hell yeah. I'm staking a sh*t ton of TRX. I have a Strength Node on VeChain too. (Very junior in the Node World, I know.) But I would never stoop to buying XLM. (Unless, of course, I get more money.)
  14. Good to know you had a point. I was wondering. I'm not on Twitter, and there is a reason for that. I do follow Galgitron sporadically, but he's the only guy, or gal, or ( insert gender neutral-non-specific pronoun of your choice) I follow on ANY social media. Forums are Web 1.0, or were until they started adding like buttons, which was a mistake. I apologize to Ms.Hayden for my insensitive remarks. Not having followed her ever, I only knew of her by her reputation, which seemed to be, as they say, a mixed bag. This thread has made me form a higher opinion than I had before. And I was out of line with my sophomoric brohan remarks. I was just kidding around. I do that a lot. Forums often bore me, and I try to use humor to lighten up some of these threads where people take everything way too seriously. But no excuse, and I'm truly sorry. I never expected TF to even read my remarks. Not the first time I've put my foot in my mouth, and probably won't be the last. Doctor , in my eyes you've failed to make ANY point I can see.......other than that you don't like @TiffanyHayden and aren't afraid of being considered a troll. I've formed an opinion of you too, and it is that you are a hater. Peace indeed.
  15. Just kidding. I'm only 63, and I'm still a bad*ss. But thank you for your kindness to us Old People. We're heavily discriminated against.
  16. Good for your "elderly" friend.... Sixty-one......I've got ties older than that.
  17. Susie Crew is a friend of mine. FYI, she made an infamous video predicting that XRP could (potentially) move to $334 in a single trade. People around here who think they know a lot like to take her analysis apart. @2ndtimearound was making a joke. The truth is that pre-mined coins have huge supply by their design. This is/was done on purpose to avoid the pitfalls of mining, which has the problem of being completely unsustainable, due to the wasted energy involved in the process. Another unforeseen consequence of mining is that as it has evolved, it has clearly led to centralization, even though the concept of mining was supposed to do just the opposite, to PREVENT centralization. Most 3rd generation cryptos are "pre-mined". XRP was pre-mined. There are some consequences there too. One consequence is a price of 30 odd cents at the moment. Another consequence is that almost all the supply is owned by a very small number of people. Rough numbers..... 100B total supply. 55B held in escrow by Ripple, being sold off monthly in increments 45B non-escrowed, with the stats indicating that more than 75% of it is in just 100 wallets. Some of those few whales have more than one of those giant wallets. The problem with market cap as a guideline to price is that when you compare pre-mined coins to mined coins, you're not comparing apples to apples. Premined coins are very new, and no existing valuation tools...NONE....are known to give a good estimate of their value. People who trot out the "too much supply" argument are both right and wrong, in my view. Right, because so many people in the financial world, most of whom understand stocks and how supply works in the world of stocks, want to use market cap as their main tool. It amounts to a self-fulfilling prophecy. Wrong, because XRP and other pre-mined coins are NOT securities...but rather currencies. In currency trading, most, if not all the major sovereign monies out there have a long history, and a giant liquid market, and their prices are completely driven by market forces and macro forces. It is a market driven by supply and demand. Some currencies, like the US dollar for instance, have huge supply and yet they strangely command a high price. To explain this takes a book, or at least a long magazine article. But it is the way it is. By looking primarily at market cap, there is a real risk of an asset like XRP (or any other pre-mined coin) being substantially mispriced. This is the real heart of the arguments made by people like my friend Susie, regardless of whether their analysis might be flawed and subject to criticism. They do see some pertinent information that needs to be considered.
  18. You're looking at XRP and thinking it might fall to get more in line with the other pre-mined "high supply" coins.....I think you might consider that there is a reason people like me own at least four of the other coins you listed. I should probably start positions in the others.
  19. Thank you. I gave her the info on Coil. I truly hope she will try it. She assured me that she would. I hope to report back. Also thinking about using Coil for my own humble crypto blog, which has been homeless and neglected for a few weeks now. I won't charge anything, of course, for my rants. We're sort of a Lake Wobegon family. The women are strong, the men are good looking, and all the children are above average.
  20. She's my youngest, but actually 28 now and sporting a brand new Masters from Queens College of Music. Hard to find a gig now in NYC, but she is playing the Red Room this next week, for anyone local to NYC. I expect she will be performing more now that grad school is behind her. Austin's loss is NY's gain. https://www.karentennison.com/calendar Con permiso, here's one more for the road. This is Karen backing up rapper Sean Millions. There used to be video on tube that was shot in Austin. Not sure what happened with that, but here's the audio. Rated R for language. Thanks very much for the nice words. I'll shut up now and return you to your regularly scheduled Hodor. Forgive me for going OT. I do that a lot, I know. I'll delete this if it bothers Hodor or anybody else around here. My son and his wife are visual artists (in Chicago). They need to do some serious monetizing too. Can Coil help with that, Hodor?
  21. She is a good entrepreneur too. She still books other jazz acts here in Austin, her home town. My one kid (of four)who got the money gene. From her mother, maybe. Not sure where the music talent comes from. It apparently skips generations. Allow me to act like a proud father. Her book is almost all standards. I'm a great fan of Hoagy Carmicheal. Enjoy. https://www.karentennison.com/music
  22. How does your test work on 2 coin systems like VeChain and Factom and the others like that?
  23. My daughter is a working jazz musician in NYC who also works a service job at the Village Vanguard (where even the bartenders are jazz musicians). I'm sending her a link to your blog. She needs to know about this. Thanks, as usual.
  24. I haven't yet watched your video, but I've been an amateur student of money for 30 years, and I agree on just about everything you're saying. Finally, somebody who gets it. Can't wait to watch. I'm at work a the moment. This part I quoted above is the sticky part imho. The part about bank support and especially support from the treasury of the country that has the franchise for the world's reserve currency. I think non-sovereign money is still considered total heresy by a fair number of people who matter, and right now we're watching in real time as the dinosaurs in banking are being persuaded by the younger contingent that it's a good idea. I don't think it IS clear YET that XRP is NOT a danger to sovereign fiat. So we can assume that part of the hold-up in regulatory clarity is that this "problem" is being dealt with in a way that's guaranteed not to shift power from what is essentially the strongest cartel in human history. As you probably know, we have this positive feedback loop in play in this country whereby the US government and the banking cartel collude. One (the banks) get a license to print the money. The other (the US legislative body) gets to spend unlimited money. It's a sweet deal, if you have access. For us regular citizens, not so much. The same thing is going on in all the modern Western economies and Japan, but it's very important to the US powers that be that the reserve currency status of the USD has to be protected against attacks, which are already coming from all sides. So we wait. Looking forward to your video and further insights.
  25. If XRP keeps acting fairly bullish, I think it could rise pretty fast just in the wake of BTC, more or less. With the rising market in general anyway. If it gets to a decent level of a buck or more I expect the shorts to pile on. Because XRP is XRP, the coin the Maximalist Whales love to hate. And lots of people are fairly contrarian on XRP because of the supply. I just think there will be a sort of perfect storm at some point. Price of maybe $2 or a little more at that point. Several months from now. Multiple catalysts of regulatory clarity and tax guidelines spark bank buying, and mainstream online trading apps all listing cryptos.....will give the whole market a new level of volume. For a while nothing happens and then things happen at nearly the same time. Suddenly there are lots of buyers and supply dries up to nothing. All those big short positions will have to cover. I really don't know how much it could spike. A lot. Shorts are still down now, but the more the market goes up, the more the short positions will go up. I expect lots of volatility for quite a while longer.
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