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Owen1

An understanding of XRP price speculation market cap forecast for 2018

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3 hours ago, Owen1 said:

I wish Banks would make a statement officially regarding this - lol.

Sorry to be lazy and not post the link, I don't have it handy. I'm sure there is a screenshot somewhere on this forum, or you can go find it on Twitter, but...

The CEO (I think) of SBI Bank said something like "Forget Bitcoin, we're all in on XRP". 

There are other official statements of use/projects. 

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7 hours ago, Owen1 said:

So is there any merit to the FUD or is XRP really GOING to be used by the banks?

Look this is the risk aspect to the risk-reward scenario of Zerps. It is why we might make money while others will not, but we might not.

Look at it this way. Banks adopt Ripple's tech and not XRP first.

Ripple says, you know you're fully set up. If you use XRP you could save X dollars. At this point there are no switching costs or integration costs, maybe just a small cost taking that last step but big work has been done. Getting XRP is not a cost becaues it is like going from USD to EUR its still value just a different form. So buying Zerps is not like a bill.

Many of us think that it will be used as a bridging currency.

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As regulations hits this year.

Billions of dollars from dieing coins will pour in to other coins.

?????????

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On 1/4/2018 at 4:51 PM, DjemDiamond said:

As regulations hits this year.

Billions of dollars from dieing coins will pour in to other coins.

?????????

totally agree with this - by the end of 2018 there may be only a top 100 crptos actually having any real respect.

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On 1/4/2018 at 4:48 PM, Iconoclast said:

Look this is the risk aspect to the risk-reward scenario of Zerps. It is why we might make money while others will not, but we might not.

Look at it this way. Banks adopt Ripple's tech and not XRP first.

Ripple says, you know you're fully set up. If you use XRP you could save X dollars. At this point there are no switching costs or integration costs, maybe just a small cost taking that last step but big work has been done. Getting XRP is not a cost becaues it is like going from USD to EUR its still value just a different form. So buying Zerps is not like a bill.

Many of us think that it will be used as a bridging currency.

That is what I have believed in as well and continue to do so - I just find it slow to get to the day where banks widespread are using it ... patience! lol.

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On 1/4/2018 at 2:14 PM, Skunkape said:

Sorry to be lazy and not post the link, I don't have it handy. I'm sure there is a screenshot somewhere on this forum, or you can go find it on Twitter, but...

The CEO (I think) of SBI Bank said something like "Forget Bitcoin, we're all in on XRP". 

There are other official statements of use/projects. 

I saw this somewhere actually..... the FUD shout loudest when compared to the supporters I guess and drown their voices out.... but we just resort to standing there smirking... knowing what is coming and that the FUD squad will soon be buying last minute tickets for the spaceship! 

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The problem with Ripple is that there is too much of it.  That is the limiting factor to increasing in value.  With 100 billion XRP created you have, when BTC reaches its maximum of 21,000,000 mined, about 4700 times as much XRP.

The recent price jump is probably a function of the hedge funds getting into the game and all the speculation going on in BTC (especially in Korea where lots of people are getting slammed).  BTC, Ether, litecoin, dash and monero  have all tripled since September.  XRP, being very cheap at around 20 cents at that time, was an easy play for people to get lots of it with big hopes for BTC prices down the line.  Not happening.

Ripple’s technology re their blockchain certainly looks superior to BTC’s and that is a good thing.  The bad thing is that XRP the ‘coin’ is not tied to the use of the Ripple blockchain by the banks that are using it.  They don’t need XRP!

As long as these cryptocurrencies fluctuate the way that they do no bank is going to use it for settling transactions.  There’s too much uncertainty.

Yesterday’s New York Times had an article on the front page of the business section stating that, at recent XRP prices, Ripple founder Chris Larsen was worth more than Facebook’s Mark Zukerberg - $59 billion – making him the sixth wealthiest person in the world!!  Additionally Jed McCaleb, the co-founder is worth around $20 billion.  I’m all for entrepreneurs making big money but this is obscene.  I wouldn’t be surprised if the recent drop in price is due to those people doing some cashing out.  They’d be crazy not to.  If you have something with that kind of valuation, in something that could crash back to a fraction of that tomorrow, anyone with half a brain would sell enough to guarantee that if the bottom drops out tomorrow he walks away very wealthy.    

Government action in the crypto realm could easily cause a crash.

Ripple’s ‘escrowing’ of 55 billion XRP is a grandstand play.  There’s no demand for the 1 billion a month that gets released each month.  So what if XRP that is not sold goes back on the escrow ‘chain’ to be released in a future month.  The people on the inside, with huge amounts of XRP, know that flooding the market will reduce the value of what they have.  Years ago Bill Gates was selling 1 million Microsoft shares a month to ‘diversify’ his holdings.  The Ripple insiders are no doubt doing something similar.  Being worth billions today and worth a small fraction of that next week because you held on to it all would be the height of stupidity.  These are smart people, who are greedy given the huge amount that they allocated to themselves, but they realize that locking in lotto or powerball jackpot amounts of money that barely will dent their holdings just makes sense.

So XRP at $1000, $5000 or $10,000 is just a pipe dream.  Would I like to see it – sure – I’m playing the game but I can’t see any possible reason for it.

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Thanks to all of you for replying.  I am sorry i took so long to reply - but work gets in teh way of 24hour-crypto, stupid work!! lol

Thanks guys.

P.S. .. I don't know if you all follow JR BUSINESS on Twitter and look at the videos they post on Youtube?  Few days or weeks back they bought PacCoin at $200 for 100Million coins.  The exposure they may have generated may have pushed the price up OR they did some seriously good homework on it but the other day their $200 investment was worth $20,000.  What do you guys think of that sort of thing and are there any super cheap coins out there that have some potential?

Thanks.

Owen

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You have to realize that there is no logical reason for any of these crypto's having the values that they have.  No one is really buying anything with BTC or any other crypto.  They are just buying and selling the 'coins' among themselves.  With dozens of new crypto currencies now out there none have potential and they all have potential.  Practically no potential to ever be used for anything that would justify their value, which for most will drop to zero eventually, but potential to rise in the short term as people jump on the bandwagon.  You can play the game and maybe make money but, when the music stops, you don't want to be the one standing.  If you are invested in something, and you have a chance to cash out some of your investment at a price that will get your money back and leave you with a stake for free - that's not a bad thing to do.  Now you have nothing to lose.  They once asked Bernard Baruch how he made his millions - his reply was 'by selling too soon'.

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