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About bachmanity

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  1. Im not saying that I want to be the first one to put all my money on the line with Uphold/Cred but it seems to be a gross exaggeration to call it a ponzi scheme Celsius is doing similar things. They dont require a lock up period but their interest rates are lower https://celsius.network/earn-interest-on-your-crypto/ Both Celsius and Cred offer crypto loans. I would guess this is where a lot of the interest comes from. If you read about both they make borrowers be overcollaeratized on their loans. Cred has up to 50% LTV ratio, meaning that if you have $10K in XRP then you can borrow up to $5K while they lock up your $10K worth of XRP as collateral, if it ever drops below a specified LTV ratio then you get a margin call and can either put up more crypto to keep your loan active or pay up. Celsius is the same, the more overcollaterlized you are, the better your interest rate on the loan is. Celsius also states that they loan out to exchanges for leverage, but that should work the same, the crypto exchanges require you to be overcollateralized to borrow on leverage. Im not sure if Cred loans out to exchanges but I would imagine that they do. Again, im not saying that I want to go all i and be the first to discover a problem but both places make a lot of sense of the surface.
  2. I have traded in and out of XLM at different times during the last year. I don't currently hold any. During a bull market its good to diversify, during a bear market its good to consolidate. I think stellar has some interesting potential but they really just have one big thing going for them which is IBM. All the other uses seem to be small and more focused on stellar protocol rather than XLM. Even with IBM they seem more interested in the stellar protocol. I only ever hear about Jessie Lund being bullish on XLM and he has been unashamedly anti Ripple. The biggest reason I dislike XLM is because of its low volume and the mass amounts of undistributed, still growing number of lumens. Every time XRP pumps, XLM follows. This tells me that the low volume of XLM is manipulated. So like most other coins there is no real utility going through it for now I think XRP seems to be the only coin right now that could break free from BTC as XRP utility increases from xRapid use. I fully expect a further fall from BTC so I want to be in the one coin which I think has potential to stand on its own in this bear market.
  3. Extremely unlikely The deadline for comments is tomorrow but the deadline for a decision later in December. Then they can delay that postpone it till late February, that's when they're out of delays and must make a ruling. Its anyones guess if they'll do it before then
  4. I hope just as much as anyone that it is that simple but from what im reading from people who seem to be impartial attorneys, this is not the case. This ruling means that "My Big Coin" can be prosecuted by the CTFC, but it won't stop a different judge from allowing the SEC to prosecute some other crypto for being an unregistered security. It will be interesting when xyz crypto is getting sued by the SEC and tries to use the argument that they are a commodity based on the my big coin ruling. FinCEN ruled that XRP was a currency several years ago when they settled a suit against Ripple, it very specifically said in that settlement that it does not bind any other government agency. Any US government agency will try to call crytpo something different to benefit themselves and the US law is so ambiguous for cryptos at the moment that for now judges take them on a case by case basis. Sorry to cause a schism in the echo chamber but just throwing the info out there.
  5. Read this thread The ruling is not as significant as the headlines make it sound. The ruling only applies to this case. It does not mean that other cryptos are not securites
  6. It doesnt necessarily increase the price below a certain threshold/volume but there are several reasons why its very likely to increase. In order that I see it happening: 1: speculation. Too many attempts at valuation dont mention anything about the frenzy that will come from speculators 2: scarcity. Yes i know there are almost 40 billion XRP circulating but its likely there is a much smaller percent actually available for trade at any one time. If daily volumes start to get into the 10, 20, 30... billion per day day then XRP will become scare if the price is low enough 3: Jevons paradox. The more volume that starts to run through XRP and the more people using it, the more uses that will be added or invented for it Anyone think of more reasons?
  7. https://ripple.com/insights/swell-2018-kicks-off-tomorrow/ Here's the link from Ripple themselves
  8. I think his opinion was that it doesn't really mean much. Its a catchy headline for crypto websites but it might not be as significant as people make it out to be. The US is a mess on crypto: CFTC says commodity FinCEN called XRP a currency in their settlement several years ago IRS taxes it as property SEC says maybe security, maybe not, maybe it is a security until it transitions to not being a security Buffet says its rat poison
  9. This guys is an attorney who commonly works on defense cases against the SEC
  10. bachmanity

    Do NOT diversify

    Didn't Warren Buffet famously say "diversification is protection against ignorance. It makes little sense if you know what you're doing"
  11. Amazon wasnt even compared to wallmart or the big retailers until much later in its life. It was initially laughed at because barnes and noble or borders bookstores were just going to ramp up their own internet sites and that would be the death of tiny amazon. Sounds pretty similar, swift or some bank are just going to copy Ripple and XRP and that will be the death of us. I think too many people under estimate what Ripple has already accomplished and cant see how difficult it will be for banks or swift to hire and steal away some of the smartest and brightest minds in crypto and make up for 5-6 years of lost time. I just dont see that happening
  12. The bottom is definitely close but I have the feeling that the upcoming VanEck Bitcoin ETF decision may have a big impact on whether we have seen the bottom or not
  13. Yes true, was just pointing out that i think XRP charts will be a better source of info than CMC (and i refuse to use CMC anymore after what they did back in January with pulling all of the korean data without telling anyone) As I know SBIs VCTrade doesnt have public APIs. A lot of people were expecting them to become a giant of an exchange but i think were all still kind of in the dark as far as knowing how SBIs exchange has been doing.
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