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Alluvial

IOTA passes XRP in market cap

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In all likelihood, unless there is a crash, then the crypto total market cap will be between £400 and $500 billion around Christmas. If the desired stable price of around $0.25 to $0.27 for XRP is achieved, then we had better get used to the fact that even 5th place may only be for a short time until the pendulum swings our way in 2018

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17 minutes ago, Lumpy said:

Hello,

Ripple is Internet of Value, which is different from IOT from my point of view ;)

I can see a slight difference between the two, but nothing to justify why the Internet of Things would be valued higher than the Internet of Value.

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23 minutes ago, Alluvial said:

Ripple has been around since 2012.  IOTA, if I recall, is a couple of years old and has been trading for only months.  And yet, IOTA (the Internet of Things - which is also what Ripple claims to be doing), as of today, has just passed XRP in market cap.  XRP is now in 5th. 

https://finance.yahoo.com/cryptocurrencies

Is anyone else dumbfounded by this?

Given where the companies are in their progress and accomplishments, I would expect XRP to have a market cap of 10X that of IOTA.  Just trying to wrap my head around this, and I just can't seem to do it even factoring in the Microsoft news.  Any ideas behind why IOTA has forged ahead of Ripple? 

1 billion dollars of iota pump came from bitfinix today 700 mill of that from tether alone considering daily volume was only 1.2 billion thats looking a bit suss

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2 minutes ago, Bluedelablue said:

The pump is from bitfinex, where tether plays a major role. 

^this

My worry about IOTA is that in the last 24hrs, 80% of its volume is from Bitfinex

Those tether find their way to all other coins. IOTA was an easy pump once the microsoft news came out. If bitfinex and tether fall then i wouldnt want to be in BTC, IOTA, EOS

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1 minute ago, Alluvial said:

I can see a slight difference between the two, but nothing to justify why the Internet of Things would be valued higher than the Internet of Value.

You are right, above all when you think that the Internet of Value should be the next version of the Internet, which is now the Internet of Things.

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1 minute ago, Alluvial said:

I can see a slight difference between the two, but nothing to justify why the Internet of Things would be valued higher than the Internet of Value.

At the end of the day it all comes down to demand - if there are more people wanting to buy IOTA than there are sellers - the price increases, fair enough. We are still in speculation stage - both have some nice ideas, both are yet to prove those ideas. Before that it's pure speculation - and in case of XRP it seems that good news are constantly suppressed by huge sellers - Jed, whales or whoever wants to keep the price down. There are handful of people with a lot, and I mean a lot of XRPs - enough to do with the price whatever they want. Hopefully some day this will change.

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5 minutes ago, Cryptoarob said:

Irrational exuberance.  I thought IOTA had some issues with code...

 

Yes, I recall a lot of negative comments about IOTA as well, but I take them with a grain of salt because I recall a lot of negative comments about Ripple as well (more so in the early days of Ripple).  By his tweet, it seems that Miguel agrees with some of the negative comments, which, for me, gives the negative comments about IOTA more weight.  

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