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XRPInStillH2O

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  1. So Bitstamp, Poloniex, Binance, etc.. are going to start generating 1099s for each account? I don’t think so. Lucien you sound like a greenhorn if you are a lawyer. That’s coming from a fellow JD who is also in finance. Very literal interpretation of a very new tax law. There is no way the IRS is going to be able to track money going into Coinbase to purchase BTC or ETH, that is then sent to Binance to purchase XRP. Moreover, what if I purchase BTC with cash from an individual, that individual sends it to a wallet not linked to an exchange, I then transfer the BTC to Binance, convert it to ETH and then use the ETH to buy BTC?
  2. If we assume that numerous banks and corporations begin to use XRP this year, how long will 100,000,000,000 XRP last? I am also assuming (1) the price per XRP will go up as more and more XRP are burned, and (2) the fee structure will have to be adjusted to account for a dramatic increase in pricing. What is Ripple going to do to ensure that the number of XRPs in circulation do not dwindle down to 0? Thoughts....
  3. Can someone extrapolate on the main difference(s) between XRP and STR? Preferably @Hodor or @JoelKatz . For the record, I am long XRP. I've been aware of Bitcoin since the summer of 2012; I wish I would have invested then. Last November I found myself watching a Bitcoin documentary that rekindled my interest. My background is in finance and my career is focused on discovering promising investments. After watching the Bitcoin documentary, I fell down the online crypto rabbit hole. All in all, I spent about a week researching blockchain technology, Bitcoin, Ethereum and the Alt coin universe. My goal was to determine what to invest in that would provide the best return with the least amount of downside risk. XRP checked all of the boxes for me; utility, price, history of credible investors, company timeline, etc... XRP is responsible for me buying Bitcoin -- at the time, BTC was the easiest means for me to obtain XRP. Of all the proverbial boxes mentioned above, the competition box is the one I have always had circled. Stellar seems to have a similar utility to Ripple; noting that Stellar focuses on the consumer and Ripple does not... Even though I think that consumers will find utility in XRP as well. How can Stellar take market share from Ripple? How do they compete now? How will they compete in the foreseeable future? Why would one invest in Ripple over Stellar? I assume that if XRP eventually reaches parity with the USD, STR will not be far behind. Is this assumption flawed? Note that I am long STR as well but maintain a significantly smaller position than my position in XRP. My heart is with XRP; I just want to better educate myself and I assume there are other individuals in this space that would also appreciate and learn from any clarity provided on this subject.
  4. @slumdog79 Just sell your XRP now. Why sell it for a 66% discount to the current price? Your comments seem rather illogical. Also, correct me if I am wrong, but my understanding of Ripple's tech is that you need to have XRP in order to pay for their service. Lastly, if your vested interest in XRP is the equivalent of approximately $300, you should be spending your time somewhere other than this chat.
  5. cmbartley: The wealthiest individuals on this planet have amassed fortunes by investing diligently in potential. All great companies or investments are great ideas first. Take Facebook for example. In its infancy, what immediate utility did it have? Not much. But it had potential and people recognized that potential. The lucky ones were angel investors who got in early. Sure they were rolling the dice, but they saw enough evidence of potential utility that they made an investment. XRP is the same animal. What immediate utility does it have? Not as much as it could have. An investment in XRP is a calculated investment in potential utility. Trust me, once the utility becomes apparent, it will be far too late to make big profits. So the real question is how much will you pay for something that does not have significant utility now, but has an unbelievable amount of potential utility? The answer is you will pay a lot less than you will be paying once the potential utility becomes current utility. Nonetheless, I do respect your analytical and quantitative perspective.
  6. I 100% agree with this point gastownhero. I touched on this in my other post. We cannot view the XRP market cap in the same way we view the market cap of a publically traded company. XRP is a form of currency it is not a security. To state that XRP or BTC has a higher market cap than Amazon of Microsoft would be like saying that the USD or Mexican Peso has a higher market cap than Amazon or Microsoft. You cannot compare apples to oranges. One of the fallacies of the crypto world is that it uses the term market cap in the literal sense to quantify the overall value of a currency. People need reference points so it is understandable. However, the economic drivers behind the value of a crypto currency and the value of a company are different. Therefore, the economic factors behind the market cap of a crypto currency and the market cap of a company are different. Try googling the market cap of the US Dollar or the Mexican Peso and you will see what I mean. I can get into a deeper discussion of this if need be but for now this should do.
  7. XRP is revolutionary in that Ripple Labs created something for themselves that acts as both a security and a currency. Soon corporations will be issuing tokens or coins instead of shares of stock. In my opinion, people will also start using XRP to buy goods and services. While that was not Ripple's intent for XRP's utility, I would not be surprised if businesses or individuals begin to accept XRP as a form of payment. If the adoption of this technology goes as planned, the value per XRP will increase drastically in the next year or so. If only 38,000,000,000 XRP and change are available to the market at present -- commercial banks, investments banks, multinational corporations and hedge funds will buy up a majority of the available supply and drive up the price per XRP in the process. This will make it difficult for the average consumer to get their hands on any XRP. It will be a free for all when the specified amount of XRP held in escrow is released each month. If the utility is proven even in the slightest, the price will shoot up very fast; perhaps even faster than BTC or ETH. Think about it, if the technology is proven and can save banks millions if not billions of dollars a year, the institutions mentioned above are going to want to purchase as much XRP at as low of a price as possible. By doing so, it drastically reduces their cost basis over time. If you plan to use the asset for the foreseeable future, why pay exponentially more for the same asset two years from today if you can buy it at a reasonable price now? To compare the market cap of XRP to that of MSFT or any other large cap stock is like comparing apples to oranges. You cannot use shares of MSFT to convert your US Dollars into Yen. You cannot use shares of MSFT as a currency because they are traded in round lots. If you plan on buying XRP as an investment I would seriously consider getting some skin in the game as soon as possible. If you invested $6,500 in XRP back in 2016, you could have purchased approximately 1 million XRP. The value of that $6,500 investment is approximately $300,000 right now. If you invest the same $6,500 into XRP today, you will be able to purchase approximately 21,000 XRP. See the difference? A famous Chinese proverb... “The best time to plant a tree was 20 years ago. The second best time is now.” Soon $6,500 will buy you 6,500 XRP. Soon after $6,500 will buy you 130 XRP, and at that time the people who bought in now will be millionaires -- the people who bought in a few months ago will be retired. Most of you have $10,000 sitting in stock or in a fixed income account doing diddly squat. It is money that you feel warm and fuzzy about having at your disposal but in all reality, you will not end up touching it until you retire; if ever. Do yourself a favor, come to that realization and reposition it into XRP. You will look back on the transaction and thank yourself for having the courage to make an entrepreneurial investment.
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