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thekiyote

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  1. I wouldn't read too much into this. I work for a major consulting firm. The one and only goal is to sell to clients. Outside of that, everyone kind of does their own thing and it's leadership's job to kind of wrangle cats and somehow present it all as if it were all under a single umbrella. So, unless you happen to see that the same name of the engagement lead on both projects, I wouldn't expect these to be related in any sort of way. The two teams might have a passing knowledge of each other at best. To put things into perspective, our group develops software. There is at lea
  2. It looks that an objection was filed on the Zakinov v Ripple Labs case on Aug 4th (https://www.courtlistener.com/docket/8150354/zakinov-v-ripple-labs-inc/) Is there a copy of that objection floating around anywhere?
  3. Yeah, as much as I want it to happen, I doubt it will. I do think it's coming, but every token they released in this batch has been an ethereum-based token with a fairly small market cap, which are probably easier to implement. With the size of the XRP community, I can see them releasing other non-ethereum based currencies first, before braving the rush. What could make me eat my words is if Coinbase decides to make XRP an example of listening to the larger crypto community, and earn back some goodwill from a bad track record of that.
  4. You can even make it less of a conspiracy than that: you've made a statement that you're going to list small market cap coins, but now you're getting thousands of requests, a good percentage of which are scams. Which ones do you list first? Well, the ones recommended by people you've had a good working relationship with in the past. I don't understand Coinbase's hatred of XRP. But when you're talking about listing small cap cryptos, this isn't that outlandish.
  5. The stock market is predictable over the long haul, at around 7% per year. Yeah, if you put a $100k in this week, it could crash next week and take a decade to recover, like it did after the first tech stock boom, but if you invest a small amount per pay period, your cost basis will even out over the long haul. Generally, though, the younger you are, the higher your risk tolerance is. If you're in your early 20s, you can potentially say screw it to your 401(k), and go after a more risky investment, like cryptos or founding a tech startup, because even if it doesn't go anywhere, you have
  6. There could be a coincidence of needs, but I doubt that both the buyers are sellers are acting completely independent of the public exchange information. And everything is managed by the brokerage firm. From everything I've seen, if you don't have the coincidence of needs, the OTC firm acts as a money maker, in order to guarantee a quick sale. Look at it this way, if I go to an OTC firm, looking to buy $1 million of XRP, I might be willing to pay up to around $0.50 per XRP, or about a 5% premium. Maybe $0.55-0.60, if the FOMO is hitting really hard. But if somebody starts quoting me
  7. Yeah, but you're still describing a risk tolerance scenario. A lot of people (probably most) wouldn't risk 6 million in order to potentially gain 50 million, but some would. But a higher risk tolerance isn't stupid, making bets without being aware of the risks is. When you see people who say "If I make $X dollars, I'll sell Y%, to lock in my gains," they all think that they have the 'right' answer, but there are just as many opinions on what X and Y should be as there are investors, all bickering over the values. The reason why nobody can agree is because the moving variable is ev
  8. This is a special case. Because the founders of Ripple gifted themselves a bunch of XRP at the creation of the ledger, they signed a contract with Ripple to prevent dumping it and crashing the market. Jed got in trouble and sued because he tried to circumvent that contract. Likewise, similar contracts exist for OTC sales ripple does when institutionally selling XRP. If a whale tried to dump their billions of XRP they got on an exchange, ripple couldn't do anything about it, because they don't have any relationship with that person. If merely holding the cryptocurrency created tha
  9. OTC prices are set to market prices, plus a premium. Market makers charge these premiums because they take on additional risks, and it's how they make money. People looking to buy/sell a lot accept that premium, because they know that they're limited to how quickly they can sell via exchanges, by either withdraw caps or potentially crashing exchange prices. OTC firms are not hiding prices. What they're doing is hiding trade volume. If volume is large, but equal through buyers and sellers, market makers really don't need to go onto exchanges to buy and sell their cryptos to restock.
  10. I'd counterpoint by saying that portfolio balancing is not a money gaining strategy, it's a risk mitigation one. If you engage in risky investments, you are going to quickly become unbalanced. Whether or not that's a bad thing depends on a lot of other factors that play into your risk tolerance. If that $6.2 million is all the money you have to live on for the foreseeable future, I agree. It's super foolish to keep that high of a balance of XRP. You'd want to sell the majority of it, and balance the remainder between stocks and bonds, to guarantee money to live off of. However, i
  11. Heh, I just brought this up in the XRP millionaire thread. People kept talking about their exchange strategies when they hit it big, but that's the point of OTC companies. Big buyer/sellers want to be able to make trades without either driving the price against them while in the middle of their trades. Also, it allows you to move money out quicker than what is allowed by most exchanges. Flip side of that is that exchange volume is probably the smaller of the two volumes, with OTC volumes being largely hidden.
  12. To follow up on this, I feel like a lot of the diversification strategies that people bring up were created for the stock market. There it makes sense, where you are protecting yourself for moderate increases or decreases. I don't think it applies quite as well to high risk, highly variable assets, where success/failure isn't measured by a swings of 5-10%, but by swings of 80%, and more, and where failures amount to $0, and wins through the moon. In those situations, you're probably better thinking in terms of bankrolls, or your initial cash outlay, and cashing out not to diversify, but if
  13. I'll show my cards: During the height of the pump, I was at around $250k, all of my XRP bought throughout the previous nine months, with a cost basis of around $0.23/XRP. That amount of money would have been enough to pay off my mortgage, with a very healthy percentage left over. I didn't sell any of it. Prior to the pump, I developed an exit strategy. I figured that that with just the single use case of remittances, significant progress from Ripple would lead to a minimum XRP value of around $44, while a resounding success would be above $100. There's also a very good chanc
  14. Alright, let's get some things clear: The IRS treats virtual currencies as property, so is reported as capital assets, and does not have an as-like clause. All exchanges of virtual currency count as taxable events. This includes XRP to Fiat, XRP to BTC, or XRP for some other good or service You can deduct any amount of capital losses against losses of the same type (short term gains/losses, long term gains losses), but can only deduct up to $3,000 of a loss against the other type The IRS has a wash rule, which means you have to wait 31 days before buying the same secu
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