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corak

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Everything posted by corak

  1. "I feel like I almost have to give a trigger warning here, if there are any Bitcoin maximalists who've gone into this room, this material may be a bit triggering for them... just a heads up"
  2. securities and derivatives have to be traded against the nation's currency (the nation where the assets are traded). XRP never had a shot at directly trading for ANY equities or bonds, regulations would never allow it.
  3. I don't agree with your opening statement. Also, consider https://coinmarketcap.com/rankings/exchanges/ Bitconbase aren't even a relevant factor It's a drop in the bucket compared to just binance alone. Seriously, give it a rest already.
  4. There is another account with 4.4M left (rMwhLJ8VvvZq2PsfC9PBigZY5UWDj5jpHr) But it is almost over with. Took much longer than I anticipated.
  5. What does it even mean for the number of coins to be 'enough' or 'not enough'? It's a denomination. XRP is transacted in a unit called 'drops', there are 10**17 drops (1 XRP is one million drops). Prices for other things can be quoted quite accurately in drops. The burn rate is unrelated and is such a small factor that it can be completely ignored. It won't go under 99B XRP in our lifetimes. Should the system be in such massive use that somehow pricing in drops is no longer accurate enough, the ledger could be patched to increase the number of decimal places (i.e. 1 old drop = 1 bill
  6. Not all opinions or outcomes are created equal, some are significantly more out of touch with reality than others Case in point, expecting a heavily traded, well known crypto that's been around for several years to increase 1000 fold in valuation in like a couple of months, because reasons. Hint: your optimistic scenarios are part baked into the price already, which is why it's trading at $0.56 now rather than something like $0.006.
  7. I remember him advising others to sell when it was around $2 "if they made a life-changing amount of money from it" or something to that effect, on a discord channel. Life-changing or not, I really wish I followed the leader on that one.
  8. I don't think we can get B O G G E D down under 20c again without some actual XRP specific, or whole industry (regulations-related) bad news. Even a spontaneous flight of capital from BTC, down to say $3k, won't do it at this point. The people who can sell XRP profitably under 20c aren't interested in dumping, and there aren't _that many_ of them.
  9. I do see it as a speculative pump: many swing traders trying to get in before it takes off. Seems crypto traders were always reluctant to hold XRP, so they always had to pile in whenever their fears grew about it overtaking other cryptos, and only at the last possible moment (May 2017 and Dec 2017 pumps are both great examples of this). I think that is why this coin goes so vertical when it starts rallying. BTC and ETH don't behave like this nearly as much.
  10. I registered to Coil as well, no invite tho, I'm on the waiting list
  11. I imagine it will take a long time before you'd see Coil mentioned anywhere on a site on the scale of youtube. Whether Coil payments are that horrible hack or properly integrated is beside the point I think - it's just such an esoteric payment form that they won't bother telling users about it. I think it's pretty awesome that Coil finds these hacky ways to become relevant faster. Think how long it took CC companies to be taken seriously as a payment method - decades.
  12. Not that we should complain much if it levels off from here, consider we were at half the price a couple days back...
  13. Well that's fantastic. A really smart decision, young man. We can put that check in a money market mutual fund, then we'll re-invest the earnings into foreign currency accounts with compounding interest XRP aaaand it's gone.
  14. Would be a bit of a surprise if it gets through 20c, but if we get full B O G G E D (Crasheet)... well, there is always the multi-year support at .006
  15. Unfortunately, at the current rate it would take more than a lifetime to get through 60B XRP. Just saying.
  16. Eh, that's somewhat flawed reasoning. XRP tanked from 0.05 to something around 0.003 at some point. It didn't fail, but it sure looked like it did back then. If it went to $0.06 our bags will be near wiped out from ATH values, and Ripple would probably have to re-evaluate their distribution strategy, but otherwise very little would actually change. XRP would be valued $6 billion (let's face it, that's still a whole lot of money given the state of its real-world adoption). If the network's adoption grew, the price would go right back up. For practical use, i.e. for bridging, no one cares
  17. "miners are not profitable below this price" is not really an argument. People invest in all kinds of things, including mining hardware, and some of them can lose out on their investment. The shipping industry circa 2008 had this issue where a temporary increase in demand for raw materials by China has spiked not only their spot prices but also the price of transportation (by ship). At some point there were ships on contracts that pay out something like $200,000 a day. This collapsed spectacularly of course and a lot of shipping companies got stuck with orders for building more ships that
  18. yes, and it's much more likely to be around 60 cents than any of your dream price targets. Anything above $5 is straight up insane, I'd say above $2 is delusional, $1+ is a very ambitious and bullish mindset to have, and by the way it could end the year down from 60 cents easily.
  19. 61 cents, sorry 57 cents is not fud, it's just facts. Don't like it? that's your own damn problem.
  20. yes, there are issues with CBDC's and it will take a very long time to evaluate them, CBs are even more slow-moving than banks are. It is, at this point, little more than a theoretical concern
  21. It's one thing to use a country's fiat as reserve and another to use it to bridge payments. Just like XRP can be used as a bridge with xRapid, one could also use a CBDC from the U.S Federal Reserve to fill this specific role. Fiat would have astronomical liquidity under such a system. Stocks and bonds are trading for fiat and compared to the volumes in those markets, crypto is a drop in the bucket. But who knows really, a lot can change in 10 years, and it will easily take that much time to deploy such networks
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