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About jamesroguski

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  1. Looks like the bottom fell out... https://www.worldcoinindex.com/coin/ripple Only a couple of people here seem to be in touch with their psychic powers - Way to go: @StillSteel @Leo
  2. About one year ago, Ripple was granted only the second New York State cryptocurrency license. June 13, 2016 http://www.coindesk.com/new-york-bitlicense-ripple/ June 14, 2016 http://www.livebitcoinnews.com/ripple-labs-receives-the-ny-bitlicense/ I believe that this gives XRP a BIG advantage over other cryptocurrencies.
  3. It seems like a channel has developed with resistance below at $0.27 and resistance above at $0.30. Since this is posted under "speculation", I invite others to offer their opinions as to which direction they think the XRP price may "breakout" (above $0.30 or below $0.27), when they think this "breakout" will occur, and why. SOURCE: https://www.worldcoinindex.com/coin/ripple
  4. @pucksterpete No, the shirt got shredded from wearing it so much. @Dennis Thanks. If you come across a good article that I missed, please email it to me - James.Roguski@gmail.com
  5. I also recently purchased using a debit card. However, if you are patient, you can verify your bank account and only pay 1.49% by transferring money via ACH. It takes 3-5 days. Coinbase has a referral program too... https://www.coinbase.com/join/59246f764cf3700d2ed600df
  6. @pyskell I am certainly not a money supply expert. The point I was hoping to make is that the term "market capitalization" refers to the value of a company's stock. Referring to a cryptocurrency's "market cap" confuses the issus. Cryptocurrencies may be considered assets by the IRS (subject to capital gains), but they are more similar to dollars and euros than Apple or Alphabet stock. The value of cryptocurrencies is still in the $BILLIONS. The value of dollars and other fiat currencies in the money supply is in the $TRILLIONS.
  7. Interesting study from Purdue University regarding privacy issues. http://www.livebitcoinnews.com/ripples-transactions-can-fully-anonymous/ https://www.cs.purdue.edu/homes/pmorenos/public/pathshuffle.pdf https://www.cs.purdue.edu/homes/pmorenos/public/poster-cosn.pdf
  8. In my opinion, it is unfortunate that the cryptocurrency community has chosen to improperly use the term “market cap”. If Ripple corporate ever went public, then you would be able to calculate Ripple Inc.'s market cap, but to use that term the way it is currently being used in the cryptocurrency community seems very improper to me. The generally accepted definition of the term "market cap" is clear: "Market capitalization" refers the total dollar market value of a company's outstanding SHARES. Commonly referred to as "market cap," it is calculated by multiplying a company's outstanding SHARES by the current market price of one SHARE. The investment community uses this figure to determine a company's size, as opposed to using sales or total asset figures. http://www.investopedia.com/terms/m/marketcapitalization.asp It would be far better (in my humble opinion) if the cryptocurrency community would start referring to the total amount of a cryptocurrency in terms that relate to its actual function as a segment of the world’s supply of money. That would be more in keeping with the way in which fiat currency, bank accounts, and other financial instruments are discussed by the old school financial community. Please see the attached image from this Wikipedia entry: https://en.wikipedia.org/wiki/Money_supply The money supply is traditionally referred to using the following categories: M0: Notes and coins in circulation. M1: A measure of the money supply of a country and includes physical money — both paper and coin — as well as checking accounts, demand deposits and negotiable order of withdrawal (NOW) accounts. The most liquid portions of the money supply are measured by M1 because it contains currency and assets that can be converted to cash quickly. http://www.investopedia.com/terms/m/m1.asp M2: A measure of the money supply that includes all elements of M1 PLUS savings deposits, money market securities, mutual funds and other time deposits. These assets are less liquid than M1 and not as suitable as exchange mediums, but they can be quickly converted into cash or checking deposits. http://www.investopedia.com/terms/m/m2.asp M3: A measure of the money supply that includes M2 as well as large time deposits, institutional money market funds, short-term repurchase agreements and other larger liquid assets. The M3 measurement includes assets that are less liquid than other components of the money supply that are more closely related to the finances of larger financial institutions and corporations than to those of small businesses and individuals. http://www.investopedia.com/terms/m/m3.asp I wish the cryptocurrency community would start using the following: MX(NAME): The total value of an individual cryptocurrency calculated by the last sale price of the cryptocurrency multiplied by the number of units currently available to the general public. MX(TOTAL): The total value all of the many available cryptocurrencies. but I am not going to hold my breath waiting for them to do so! Full disclosure: The above article is from my website... http://www.thetruthaboutdigitalmoney.com/market-capitalization.html
  9. @Mark555 Mark, thanks for the question - The reason is that the only form of USD deposit that GateHub, BitStamp, Kraken and BitSane accept are bank wire transfers. Those wire transfers are COSTLY and SLOW. Until a U.S. exchange (such as Coinbase) supports direct purchases of XRP, the process is too complicated for the average consumer. The reason that Bitcoin is booming in Japan and South Korea is because it is easy for the average consumer to dive in. Your question is exactly my question - Why can't U.S. residents buy XRP directly with USD? I believe that when that does happen (hint, hint, nudge, nudge Coinbase!) the demand for XRP will skyrocket. I hope to have as much XRP as I can BEFORE it becomes easy for the average consumer to obtain. Ripple posted this video months ago, but I believe that it is merely a concept video at this point. I do not believe that such simple payment systems are yet available. It shows the promise of Ripple/XRP. https://www.youtube.com/embed/ZckgnFDUOU8 @HanaumaPaul You used a phrase: "You can cut right to the Chase" (I added the capital "C") -- that makes my point. My questions center around what businesses in the Ripple sphere of influence are doing to bring the promise into reality. We know that Ripple is building associations with banks. It would be a powerful innovation if Chase made Ripple available through my bank account so that I could make payments globally with XRP as easily as I can make them domestically with Chase Quick Pay. I agree that most of these cryptocurrencies are running on venture capital. I am still hoping that someone here on XRPChat can address the 10 questions (requests for data) in my original post with some DATA.
  10. @Hodor Thanks for the reply - I am glad to hear that we share the same goal. Here is a link to money supply info: http://www.investopedia.com/terms/m/m1.asp I don't really want to go down that rabbit hole, this forum isn't really the place for monetary policy. The question is really about how much money is moving in and out of cryptocurrencies versus fiat currencies. You wrote... I think what you're asking about specifically is the inflow and outflow, right? From my understanding, that is much more difficult. For XRP, you would need to do this analysis only at the points of entry and exit into fiat, which means collecting hard data from the exchanges." Exactly. I know that data is not easy to obtain. I was wondering if anyone has knowledge of any such data. The chart from the Wall Street Journal today at least addressed the issue (sort of). It seemed to show that A LOT of money was pouring in from Japan, but that money had stopped flowing in from China. However, it just gave percentages, not real, hard numbers. I'm not big on trading one cryptocurrency against the other. That's just my personal preference. I am trying to find out if anyone really knows what is REALLY happening within Ripple's sphere of influence. Is Ripple corporate giving away money to new exchanges? Do exchanges get a pile of free XRP as an incentive to open for business? Do exchanges need to provide the cash to purchase XRP like the rest of us prior to their startup? Does Ripple provide them with enough XRP to guarantee liquidity? Does their entry into the marketplace put pressure on prices (up or down)? When will the billion XRP/month releases begin? The questions for Ripple go on and on. Without some fundamental data, all that anyone can do is "speculate." I prefer to invest wisely, from an informed position, thus all the questions.
  11. 10 QUESTIONS BELOW... This post is a request for help from the members of the XRPChat community to share whatever DATA and INFORMATION you may be able to find that can help shine more light on the XRP marketplace. I hope that this post will increase the sharing of INFORMATION that may currently be hidden or ignored, and stimulate some true analysis of that DATA, rather than just generate a lot of speculation and predictions that are based on hopes, dreams and emotions. Below are a few of my observations, questions and opinions. ******************** OBSERVATIONS ABOUT FOCUSING ON CHART FLUCTUATIONS: ALL of the “volume” being traded on Poloniex is based on a simple, often overlooked fact: All of the cryptocurrencies being traded on Poloniex were obtained by first converting fiat currency into one or more of the many different cryptocurrencies. All (100%) of the trading on Poloniex is occurring among traders who have fundamentally bet that the cryptocurrency market, as a whole, is a better place to invest than stocks, bonds, real estate or any other investment that is based on fiat currency. All of the action on Poloniex is just a debate over which cryptocurrency is likely to be favored over all the others (my coin can beat up your coin). A rising tide will lift all boats, but an ebbing tide does just the opposite. Traders on exchanges like Poloniex are battling over a slice of the crypto pie. The size of that pie, how fast it is growing, and who is making it grow is VERY important information, but that information is difficult to obtain. ******************** The above observations lead me to the first seven(7) questions (requests for DATA). QUESTIONS: (1) When you focus on your chosen cryptocurrency in relation to the other half of your trading pair, what if the entire collection of cryptocurrencies are dropping in relation to fiat currencies in general? Are you really coming out ahead if you gain against another cryptocurrency if all of those currencies are dropping against fiat currencies? Are you trading CRYPTO/CRYPTO and ignoring CRYPTO/FIAT? (2) I would like to see DATA regarding cash flows into and out of Poloniex as a whole, as well as every other exchange and gateway. Hedge funds often report similar data. Does anyone know how to obtain this type of DATA for overall inflow/outflow in cryptocurrencies? (3) At any given moment, are investors and speculators around the world betting on cryptocurrencies as a category and pumping their money INTO cryptos and AWAY from fiat currency (or equities or bonds)? Or, as a group, are they cashing out of cryptocurrencies and returning their funds to fiat money? I have a guess as to what the trend is, but does anyone have access to any DATA regarding these money flows? Does anyone know of cryptocurrency DATA that is analogous to “money supply” DATA similar to this: See the attached graphic from Saturday, May 27, 2017 Wall Street Journal and this: http://data360.org/temp/dsg2052_500_350.jpg (4) How much money (from banks, payment processors, individual investors) is actually seeking out XRP and parking/holding it there for the long term? (5) When exchanges like CoinOne(Korea), BtcXIndia, etc. initially make XRP available to their customers (as they have done in recent weeks), WHERE DO THEY GET THEIR INITIAL SUPPLY OF XRP? Do they have to obtain it like most of us do (from the existing marketplaces)? Or does Ripple corporate provide them with millions or billions of XRP as an enticement to get them to support XRP? - that might explain some of the upward pressure on prices! Do they pay for their XRP or is it a “part of the deal?” A number of exchanges recently started supporting XRP. Is that why prices spiked upward in April and May? More transparency about this process might be very enlightening! What might happen if Coinbase started making XRP readily available, or Jaxx started supporting XRP? (6) If an investor’s intent is to buy and hold (as opposed to a speculator), shouldn’t that investor always make their purchase on a legitimate exchange that offers the lowest price? You can always move it to a higher priced exchange when you decide to convert to some other currency. (7) Does anyone know how much and what percentage of XRP is held in Ripple wallets (mostly people just holding XRP) as compared to the amount of XRP held in the wallets that are controlled by the exchanges (mostly speculators) and Ripple founders? I know we can access information to Ripple wallets, but is there a public list of Ripple wallets controlled by each exchange? Is there a public list of Ripple wallets held by the founders and principals of the Ripple corporation? ******************** OBSERVATIONS ABOUT THE DIFFICULTY OF OBTAINING XRP: Ripple has talked about making the cost of transferring money easier, faster and less expensive, but XRP is very difficult and expensive to obtain, especially if you do not already hold some other cryptocurrency. Obtaining XRP is absolutely a pain in the @$$ for an average U.S. citizen who does NOT already hold Bitcoin or Etherium that they can exchange for XRP. To my knowledge, only GateHub hosts a dedicated Ripple wallet. All the other exchanges hold their customers’ XRP in the Ripple wallet that is controlled by the exchange and only offer IOUs for XRP to their customers. Only GateHub, BitStamp, Kraken and BitSane directly accept USD, but only via international wire transfer, which is crazy slow and crazy expensive. Having just gone through the process, it seems like the least expensive, least “techie” and simplest way to obtain XRP in the U.S. is to do the following: STEP 1: Start by taking a handful of “patience” pills (don’t be in a rush - this is gonna take some time). STEP 2: Open a GateHub account in order to obtain a dedicated and activated Ripple wallet in which to store your XRP. STEP 3: Add trust to the BTC or ETH gateway. STEP 4: Submit your information in order to verify your account (Know Your Customer - KYC) STEP 5: Expect to wait about a week for GateHub to verify your account. In the meantime… STEP 6: Open a Coinbase account. STEP 7: Submit your information in order to verify your account (Know Your Customer - KYC) STEP 8: Submit your bank account information (ACH) (1.49%), or credit card info (4% surcharge) STEP 9: Place an order for at least $200 worth of Bitcoin. STEP 10: Send your Bitcoin from Coinbase to your Bitcoin wallet on GateHub (pay their send fee). STEP 11: Exchange (or trade) your Bitcoin for XRP on GateHub (pay 0.2% fee). STEP 12: Keep your XRP in your GateHub wallet or move it to a desktop wallet or LedgerWallet. ******************** The above observations led me to the following three(3) questions: QUESTIONS: (8) Does anyone know of an easier, faster, cheaper way to obtain XRP than the steps listed above for someone who doesn’t already have Bitcoin or Etherium? (9) I am aware of the benefits of desktop wallets and LedgerWallet - for this question, let’s just accept that they may be too “techie” or too expensive for the average person who is just getting started in cryptocurrencies: Is GateHub the only exchange that offers an dedicated online Ripple wallet, as opposed to exchanges that store everyone’s XRP in their wallet and only provide the equivalent of an IOU? (10) Does anyone know of any U.S. based exchange or gateway that makes XRP available directly via a simple bank transfer (ACH), or credit/debit card (as opposed to wire transfer or cryptocurrency transfer)? If it is possible to obtain other cryptocurrencies with lower costs and greater speed, why are we not able to obtain XRP more easily? ******************** MY OPINION: As long as obtaining XRP is difficult, time-consuming and expensive for U.S. citizens, relatively few people will bother to convert their fiat currency into XRP. HOWEVER, once developers like Jaxx and exchanges like Coinbase (and others) take steps to make it easier, quicker and less expensive to obtain XRP, then we might really begin to see some serious upward pressure on the price of XRP. MY GOAL: I want to have as much XRP as possible stored away in my wallets BEFORE new developments makes it faster, cheaper and easier for the masses to obtain XRP. FULL DISCLOSURE: I am the webmaster/owner of http://www.TheTruthAboutDigitalMoney.com I have a very modest amount of XRP and I am working to help myself and others understand Ripple and XRP. Hopefully my efforts will make it easier for people to obtain, hold and benefit from XRP. I don’t think that I am “pumping” XRP, but I am trying to demystify it, which will hopefully increase its popularity and increase the likelihood that it may be adopted by the masses. If you find the information on my website to be helpful, please feel free to donate to support my efforts. James Roguski ********************
  12. That works in the "exchange" area. I was referring to the "trade" area. The two areas are different, that is what was confusing me. McRip 's advice helped a lot. Thanks again.
  13. Also, Ripple will be releasing 1 billion XRP per month every month for 55 months, so the ratio will probably go in the other direction in large steps. However, you do have a valid point about the ongoing disappearance of XRP over time. At some point far off in the future, I hope to be holding the last available XRP in existence!
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