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RootSilent

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  1. I don't know who you're saying this for (other than yourself) but you strike me as angry and pessimistic. Thus far, you've insulted Molten, been rude to Caracappa and now you're implying that everyone here is an idiot. If you disagree with the trade analysis you're welcome to make your own chart and share it here. After all, if we're all so horribly in enthralled with Molten's posts like you say, it's your moral obligation to rescue us with good facts and trade analysis. Contrary to what you might think, we're not all hopeless optimists here. We do however try to have good manners πŸ™‚
  2. Hey TeeKay, it seems like you're new to this space so I wanted to give you some advice; I would avoid sites like this as they really aren't news sites. Things like 'newsbtc.com', 'u.today', 'beincrypto', dailyhodl etc are fake news (and I really do mean fake news). These sites are by and large actually owned by some individuals who got into the crypto space early, and their motivation is not altruism. *Tin foil hat on* My theory, at least from watching the trading view news feed, is that these articles (bullish or bearish) are used to lure inexperienced investors to do something with their money, usually at the wrong time. Eg. right before a large pump in a coin two articles will come out, one saying that an expert thinks the coin is about to go down and the other saying the coin is going to double in price. The investor then either sells too soon, or sells way too late. In any case that's my perspective based on two years of observation of the 'news' and what immediately happens after. *Tin foil hat off* Regardless, 'news' like that is very misleading and really isn't informative to the market. Usually it's late and at its best, it's meant to justify price action nobody really has an explanation for. You did a good thing coming here as really this is the best source of information I've found. Albeit a little biased towards the positive, no one here is making money from selling their opinion here. In fact, usually you'll hear something here days, weeks, or months in advance to it popping up in those sites I mentioned above. Really any site with titles like 'Two Seasoned Crypto Analysts Predict Tezos (XTZ) to Rise Soon' or 'Expert Claims that Bitcoin will Dump Soon' should be avoided. Youtube as well for the most part and stay away from Twitter for anything but general market sentiment (and usually you're better off just reading the reddit and taking note of how much people are complaining or mad at each other). Goodluck and welcome!
  3. Ironically, I don't think this forum is a place the xrparmy even frequents. Most people here are pretty level headed and you'll see a lot of the respected individuals here admitting they are diversified into other crypto assets, even bitcoin. Truthfully, I'm not even sure if the majority of the xrp army is even 'real people' or representative of the people who actually like xrp. Regardless, if you want a decent informed opinion on anything other then general sentiment it's better to steer clear of Twitter. That whole place is toxic imo. Anecdotally, as far as the name calling goes, I'm a member of various crypto groups and I occasionally lurk on the trading view chat when I'm bored; almost nobody likes xrp and if they express their enthusiasm they usually get torn apart by the people there. The best it gets is 'yeah xrp is a shitcoin but I've made x% from selling the pumps'. Bitcoin on the other hand gets treated ALOT better.
  4. Hah, whoops. So many people quoting each other and calling each other names here I got confused. Apologies Caracappa.
  5. I'd like to step in here - Tiny is not a troll or a fudster, more of a realist who contributes a lot here. In any case, no one knows where it'll go because it is a speculative asset. I hope it goes up.
  6. One thing I've noticed is that the crowd is often right in the direction it will go, just not the magnitude of the movement. It's made worse by those crappy crypto articles that show up in my trading view news feed which are meant to cause impulse buying & selling. Eg. News Article titled 'Prominent Analyst Thinks Bitcoin Will Fall to 5,000 Before Sellers Are Exhausted' pops up and I think, ok price is actually going to fall to ~5,700 and bounce off the resistance going back up to start a new uptrend (well at least bounce..) It's funny, but these expectations are exactly what screw bulls and bears over and gets them to enter or leave at the wrong time. Bears will see that article above and sell (rightfully) but not buy back in time because they expect it to go past 5.7k. Likewise, bulls who doubted the article and try to hold panic when price just barely wicks below the resistance of 5.7k (thinking the resistance broke and it's going to 5k) because they start to think the article could have actually been right all along but then are boxed out when the price suddenly snaps back up. Sorta like what happened on the 19th of October this year with BTC (I mean does that even look like natural price movement?) Long story short, I think we might have a bit of draw down here, maybe even to 14.6c or so, just enough to get people to panic sell before price snaps back up. I don't think capitulation has really occurred for XRP since the April-May run up - sure we're down 90% from the ATH, but I think we're going to need to lose a significant support before people (the long term holdlers) freak out, sell at the wrong time, and buy back in. Sorta what happened with BTC in bloody November last year. Just my .1 zerps anyway.
  7. Yeah, I've 'followed' him for quite some time. Sometimes he has something worthwhile to say. Most of the time he doesn't and he conveniently forgets all the wrong calls he makes. Not to mention the guy is 100% a scammer - if you do a bit of digging you'll see there are a lot of people mad at him (and his previous accounts) because he scammed them out of money... Not to mention the scams he did before crypto.. haha fun to read though🀷
  8. Thank you for providing this info! So, we're always talking about banks in these chats and whether or not they'll work with ripple - I thought it'd be an interesting exercise to see which of the top 10 biggest (by assets) banks in the world attended. Please note, while this info is for 2019, I've seen some variance in the top 10 lists throughout the interwebs (and please correct me if I'm wrong, I may have missed a subsidiary or an acronym for the bank name). Here's what I got: 10. Mitsubishi UFJ, Japan β€” $146 billion : aka MUFG, attended 9. HSBC Holdings, UK β€” $147 billion : did not attend 8. Citigroup, US β€” $158 billion : subsidiary attended (Citibank) 7. Wells Fargo, US β€” $168 billion : did not attend 6. Bank of America, US β€” $189 billion : did not attend 5. JPMorgan Chase, US β€” $209 billion : did not attend 4. Bank of China, China β€” $230 : did not attend 3. Agricultural Bank of China, China β€” $243 billion : did not attend 2. China Construction Bank, China β€” $287 billion : did not attend 1. ICBC, China β€” $338 billion : did not attend First thing's first - today I learned that the four biggest banks in the world are Chinese banks! I had no idea, but that was a fun little nugget of info. In any case, it's no surprise that Mitsubishi attended considering Ripple's presence in Japan; nothing to see here folks! However, it is cool to see that we have an North American bank attending who is in the top 10. In the trend of 'smallest comes first for competitive advantage' it's no surprise to me that Citibank is doing this while Wells Fargo, BoA & JPMorgan/Chase sit on their hands. Finally, I think it's a bit strange (and maybe telling) that none of the Chinese banks in the top 10 even attended despite the event occurring in Singapore! I really don't know what to say here other than it's possible China is looking into its own solution and simply isn't interested (I've heard rumblings of this elsewhere). All in all, I can't say I'm too surprised though we should keep in mind this breakdown could amount to nothing as attendance at a function isn't necessarily indicative of adoption or interest (eg. Some interested parties haven't felt the need to attend as they're already in talks with Ripple).
  9. Just wanted to say, I've been reading your posts for quite some time, and I appreciate that even though you have a long term 'long' position in the market, you make an effort of being objective, even contemplating a draw-down rather than 'moon moon moon' like I see 90% of everywhere else. Thank you.
  10. The real question is that, by being the one backing a solocoin, are you in any way required by law to hold a portion of that backing as xrp (similar to banks and πŸ™„ supposedly 'stablecoins' institutions like tether holding about 33% USD)? If so, this is really really good news (dependent on adoption ofc) as people holding xrp in order to back their solocoin would put upwards pressure on xrp. If not.... well then... nothing to see here folks.
  11. @CryptoCrusader what's your game? You seem like a troll from how you're speaking; Even though your first question was 'smart or dumb move?' you clearly aren't asking for any sort of advice or approval for a 10x leverage trade, considering how certain you sound and how you're talking down to people here in this post... only normally the trolls here aren't so obnoxiously bullish ? @ZzZerper / @Cooliozxrp / @Freaky is he one of yours ?
  12. @VegitaXRP - I actually disagree with the first point, provided the price-through-utility theory is correct; the more people need/choose to hold the asset, the higher the price floor will be. With that said, I think we're far, far, above what the price floor should currently be based on utility and are only holding this point due to speculation. In any case, the presence of a floor in no way protects an asset from manipulation - for example, if you look at the long term logarithmic scale of BTC you could see what appeared to be a strong bottom in 2018, which broke in November to take us down to the 3k range. Was the 3k range the true bottom, meaning the price was artificially high that whole time? Or was the ~6k range the real bottom, with the plunge to 3k due to mass manipulation. I think it's a moot point. The reason I asked the question I did, is because I don't think there's any way one could say with any confidence that xrp in particular is more manipulated than 'all other crypto-currencies' (I mean what about dogecoin or god forbid BSV lol?). That's the sort of blanket statement I'd like to stay away from when talking about this because I see people time and time again taking a strong speculative perspective to manipulation. With that said, I myself think the entirety of the crypto market is manipulated a great deal, but that's purely based on the fact that the TA I expect to occur sometimes goes straight out the goddamn window in many cases, with huge buy/sell walls appearing out of thin air for example. You are correct in that the ambiguous security status of cryptos allows for some funny business to occur. For instance, if xrp were to be considered a commodity, any laws regarding 'insider trading' would go right out the window. The same could be said for any other currency. The fact is, this is a (relatively) new space as far as regulation is concerned and the SEC has been caught with their pants down. I'd love them to clear some of this up so we could move along from this potential for manipulation, but it's probably going to take a little while longer I think as they don't want to do it wrong and set a bad precedent for future currencies.
  13. What makes you say that? What indicates that it is manipulated and if so, how do you know the manipulation is greater than any other crypto?
  14. ^ You can thank Coolioz for that, he's one of our neighborhood trolls. Checkout his post history, he loves stirring the pot. In any case, this is really cool news! I love seeing stuff like this, thanks for the share.
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