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About LungiDevil

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  1. I remember Steve Mnuchin in one of his briefings welcomed the sort of innovations that Moneygram was doing with fintech partners, but advised to exercise caution against other cryptos. It was at that moment that I significantly increased my XRP holdings. I assumed that sort of meant the 'authorities' as a whole were aware/on board with Ripple.
  2. I have all my XRP on Bitstamp and never bothered to move it to a custodial wallet. With the impending Flare airdrop, I wanted to move it to Xumm and started setting it up. However, there was a pretty big disclaimer at the beginning saying it is still Beta and not to have more than a small amount of XRP. Can anyone weigh in on how reliable it is? I may have to otherwise think of other wallets and honestly they all seem too complicated to my thick skull.
  3. Yeah, I agree. The idea that Whales manipulate the market seems to be well agreed upon. I am thinking may be it is just Ripple trying to reduce the influence of whales in the market. I am also a bit nervous about them actively involved in XRP trading. Hope they are advised by a solid legal team.
  4. Ripple dump XRP in the market all the time. They are here to sell only RippleNet software and we are chumps paying for it. Oh wait... They're buying back XRP from the secondary market. Never mind.
  5. Ripple in the Q2 Report mentioned they are buying back XRP in the secondary market through a subsidiary. Experts on here: Is there a way to check if some of those newly added wallets are Ripple's? Either way, I am interpreting this as a pretty strong sign. I mean why would Ripple buy them back unless they strongly feel it is undervalued currently.
  6. Genuinely curious. How is Ripple stopping anyone from using XPRL for their use cases/benefit? Yes, and this is news because? If anyone is putting money in XRP thinking Ripple has an obligation to them, that's stupid. Identifying that Ripple has a huge incentive to foster XRP adoption and hence speculating on it is very different from thinking Ripple has a commitment towards holders. I doubt the more serious bag holders are in the later category.
  7. Edited for brevity. Your words man. You can't follow that up with: In response to my position that you think " XRP/XPRL is not the FIRST priority for Ripple" In response to if Ripple holding coins is a problem? What is your real position then?
  8. Sigh. I am bad at analogies, so at the risk of sounding stupid, here goes... It's bit like looking at a railways company and saying hey look - All their contracts are about laying tracks and collecting money for people using the tracks. And their tracks can support any manufacturer's train, why are customers going use our train????? Sure they make some money on the tracks currently, but I am happy they are the ones laying the tracks. They have 50B of those trains sitting in their garage too. Will those trains ever run on those tracks, I don't know. But will those trains ever run if there
  9. I agree with a lot of your insights, but not some of the conclusions. As someone mentioned before, Ripple has no advantage just being a enterprise software company. It's easy to play catch up in that arena, especially by incumbents. I doubt anyone who signed up for Ripple, had any illusions about the risks of what they are trying to achieve and in fact are more likely to jump ship the day Ripple makes that pivot. No one can predict, but things are definitely moving faster in the regulation sphere and so why would Ripple shift focus now? Ripple's actions are very much in alignment with wh
  10. I actually think the other way around. They hold 50Bn XRP. Everytime they 'sustainably' increase the value of XRP by $.01, their company becomes worth an additional $500Mn. They can't sell enough software to reach the value of XRP sustainably reaching let's say $5. RippleNet is a necessary and the biggest step towards building XRP adoption. If I were on Ripple's leadership team, I'd be razor focused on bringing utility to XRP, the first step of which is to bring RippleNet adoption. I can definitely see the side of the argument that, if XRP fails they still have RippleNet to fa
  11. Some verbal gymnastics there. The main use case for XRP should be using it in cross border payments and possibly as a store of value in the long run. For sure that use case is not yet realized, but that doesn't change the objective. Ripple are either on board and champions that idea or they are projecting that idea to mislead and sell XRP and make money. They are either a potential blockbuster or a well run scam. I don't see an 'in between' in this case.
  12. But why would they not want to sell them at a higher price? Are they really satisfied at selling the rest of their XRP for $.20 and only focus on the success of RippleNet solutions? Is that really more financially beneficial? Even if that is the case, don't they realize that they can't possibly sell 50Bn XRP for years just like that? If they don't show progress with the asset, surely people are going to stop buying and there's not much value to the tokens. XRP definitely has a higher ceiling that what it is today and so why wouldn't Ripple work towards that? Particularly when Ripple the c
  13. Moneygram were/are lagging very badly on their digital offers in general and losing market share. They've rolled out a new app and they are trying to improve customer experience, but they have a lot of catching up to do. Irrespective of the rails that they use to do the actual transfer, they need to just do business better to improve. Their app is one step, their partnerships and new services like direct to debit card services are others that are strengthening them. Still for a company that just got pumped with $50M to be valued at $140M in total shows how bad their execution curren
  14. Ripple was recently valued at $10B in its series C funding. But Ripple (even if in Escrow) has close to 50B XRP, then that alone should be close to 10B in value. So I don't think that figured in to the $10B valuation. If we assume it is the valuation of the business outside of their escrow holdings (don't know why they would value it like that), then when they go public in a year or so, we could assume that part of the business to be worth say $20-50B in total (a 2 to 5x growth from today). Best case scenario, they create $40B in value. Let's contrast that with the potential from the
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