Sold My XRP Today - Here is why

[HandsomeBob]

1 minute ago, xrpwizard said:

Thanks for sharing your view and congratulations on the profits made. All the best!

Agree, I'm not sure why there is so much "bye" attitude here, happy for someone to have made some money, and upon feeling doubt about his investment, pulled out. While I personally believe that this is the best, most undervalued currency and I don't think I need to explain to all of you why, I also see the counterpoints as raised, and those are valid reasons to sell, or question the investment. Do NOT get emotionally attached to your investment. I sure as hell am not. (Have invested money in other currencies as well)

[Trickery]

Hmmm seems very strange that someone would buy XRP without already knowing the details of all the arguments a standard FUD spreader would use?? Very suspicious.

[The Knight of Ahhrrgg]

13 minutes ago, CryptoMaster1000 said:

So this will be a very unpopular post and I already know I will get some hate comments but it is what it is. I bought into ripple at .50 and sold today at 2.70 on Binance. I have been concerned about the huge run up on speculation and feel that I sold at a good time, and if not I still did well on my investment.

So why did I sell?

• XRP is way overvalued in my opinion. Technically 100 billion XRP exist due to XRP being pre-mined. In my opinion, pre-mined tokens should always be included in market cap calculations but for some reason everyone uses the 38 billion number that are "in circulation". This simply isn't accurate, 100 billion exist and they should be counted.
• The overall supply even at 38 billion is MASSIVE. Basic supply and demand economics say this is a big problem.
• The founders gave themselves BILLIONS of XRP on creation. Sorry but this is BS. Chris Larsen has 5.19 billion XRP and Jed has 5.13billion. This is a classic example of creating a currency and lining your pockets with free money that you created. This is no different than the fed printing billions of dollars and the executives pocketing billions because they printed it. I would understand if the company was super successful like google or apple but they are still in their infancy, this excessive compensation is ludacris.
• Centralized control, Ripple the company holds like 60 billion XRP to do with as they please within the confounds of their escrow plans which are pretty lenient. Enough said.
• Ripple vs XRP, I think ripple will succeed by selling their network/blockchain product but the banks don't really need the XRP tokens! Great they partnered with AMEX but AMEX has already mentioned they don't care about the token, they are only interested in the network.

I am pretty sure XRP will crash, it may go up to 20 dollars but it would be purely on speculation as I don't think the currency will be succesful. There are so many red flags with XRP it is not even funny. I enjoyed the ride up but know that the ride was all hype.

So you are out - who flocking cares? I know I don't.....

#showoffevenforthewrongreasons 

[battered_lifer]

I've heard this butt fudge time and again, at this point, from elementary school drop-outs that never learnt to read good.

Edited January 5, 2018 by battered_lifer

[knucklekneck]

please come back by at $25 and say hi!

13 minutes ago, CryptoMaster1000 said:

So this will be a very unpopular post and I already know I will get some hate comments but it is what it is. I bought into ripple at .50 and sold today at 2.70 on Binance. I have been concerned about the huge run up on speculation and feel that I sold at a good time, and if not I still did well on my investment.

So why did I sell?

• XRP is way overvalued in my opinion. Technically 100 billion XRP exist due to XRP being pre-mined. In my opinion, pre-mined tokens should always be included in market cap calculations but for some reason everyone uses the 38 billion number that are "in circulation". This simply isn't accurate, 100 billion exist and they should be counted.
• The overall supply even at 38 billion is MASSIVE. Basic supply and demand economics say this is a big problem.
• The founders gave themselves BILLIONS of XRP on creation. Sorry but this is BS. Chris Larsen has 5.19 billion XRP and Jed has 5.13billion. This is a classic example of creating a currency and lining your pockets with free money that you created. This is no different than the fed printing billions of dollars and the executives pocketing billions because they printed it. I would understand if the company was super successful like google or apple but they are still in their infancy, this excessive compensation is ludacris.
• Centralized control, Ripple the company holds like 60 billion XRP to do with as they please within the confounds of their escrow plans which are pretty lenient. Enough said.
• Ripple vs XRP, I think ripple will succeed by selling their network/blockchain product but the banks don't really need the XRP tokens! Great they partnered with AMEX but AMEX has already mentioned they don't care about the token, they are only interested in the network.

I am pretty sure XRP will crash, it may go up to 20 dollars but it would be purely on speculation as I don't think the currency will be succesful. There are so many red flags with XRP it is not even funny. I enjoyed the ride up but know that the ride was all hype.

you will love this zero hedge article. I am not one to completely dismiss a precipitous crash, I just think that if it does happen it will happen after all the new money gets through the bottle necks and the additional exchanges hold XRP and the price goes up to $50 - $100. https://www.zerohedge.com/news/2018-01-04/anatomy-crypto-nightmare-ripple-ceo-now-richer-zuckerberg   

[MooNMaN]

11 minutes ago, HandsomeBob said:

Agree, I'm not sure why there is so much "bye" attitude here, happy for someone to have made some money, and upon feeling doubt about his investment, pulled out. While I personally believe that this is the best, most undervalued currency and I don't think I need to explain to all of you why, I also see the counterpoints as raised, and those are valid reasons to sell, or question the investment. Do NOT get emotionally attached to your investment. I sure as hell am not. (Have invested money in other currencies as well)

Couldn't have said it better myself. Congrats on making some coin @CryptoMaster1000 best of luck on your next adventure!

[TinyRick]

28 minutes ago, CryptoMaster1000 said:

Ripple vs XRP, I think ripple will succeed by selling their network/blockchain product but the banks don't really need the XRP tokens! Great they partnered with AMEX but AMEX has already mentioned they don't care about the token, they are only interested in the network.

But you forgot to mention SBI Ripple Asia and their 61 bank consortium going live in March on xRapid along with the announcement that by October 2018 the major credit card companies in Japan are also going live on xRapid.

[invest2lose]

31 minutes ago, CryptoMaster1000 said:

• Ripple vs XRP, I think ripple will succeed by selling their network/blockchain product but the banks don't really need the XRP tokens! Great they partnered with AMEX but AMEX has already mentioned they don't care about the token, they are only interested in the network.

 

can you show me where amex said they don't care about xrp?

[bayarea510]

If you happen to have any xrp left I'll gladly buy them from you for half off or take a generous contribution.

[xrpsailor1]

16 minutes ago, HandsomeBob said:

Agree, I'm not sure why there is so much "bye" attitude here, happy for someone to have made some money, and upon feeling doubt about his investment, pulled out. While I personally believe that this is the best, most undervalued currency and I don't think I need to explain to all of you why, I also see the counterpoints as raised, and those are valid reasons to sell, or question the investment. Do NOT get emotionally attached to your investment. I sure as hell am not. (Have invested money in other currencies as well)

You all are nice, but it is the OP's attitude. What are his motivations for posting? Is he really trying to "help" us from our poor state of ignorance? or is he trying to tell us that he is better than the rest of us? I personally dont turn the other cheek too easily, and I think it is, at times, dangerous to have that mentality.

[charmaser]

To address one of your points, even Satoshi gave himself a million dollar purse is equal to 5% of the total Bitcoin distribution. Exact same as each of the founders of Ripple. Only difference is a large part of the wealth from the founders of Ripple was given to charity. I say this because there is very straight forward logic to counter each of your points of selling. Each point has been discussed and dissected. 

I would just hate for somebody to read your selling points and think that these are somehow logically valid. No offense to you of course but you did make it a point to open your logic for selling up for criticism.

[battered_lifer]

I may have been a bit harsh. If so, I apologize brother. Nothing personal intended, really.

I suggest you read more in detail about Ripple the company, their partners, and those who have bought in to, and back the ripple project,  ripple's progress to date, their team, their vision, the solutions they have created, in depth, and the specific role of xrp in that, in depth, and the problem that it is to solve. Then, make your own decision.

(-: All the best

Edited January 5, 2018 by battered_lifer

[xrp_moonjet]

37 minutes ago, CryptoMaster1000 said:

So this will be a very unpopular post and I already know I will get some hate comments but it is what it is. I bought into ripple at .50 and sold today at 2.70 on Binance. I have been concerned about the huge run up on speculation and feel that I sold at a good time, and if not I still did well on my investment.

So why did I sell?

• XRP is way overvalued in my opinion. Technically 100 billion XRP exist due to XRP being pre-mined. In my opinion, pre-mined tokens should always be included in market cap calculations but for some reason everyone uses the 38 billion number that are "in circulation". This simply isn't accurate, 100 billion exist and they should be counted.
• The overall supply even at 38 billion is MASSIVE. Basic supply and demand economics say this is a big problem.
• The founders gave themselves BILLIONS of XRP on creation. Sorry but this is BS. Chris Larsen has 5.19 billion XRP and Jed has 5.13billion. This is a classic example of creating a currency and lining your pockets with free money that you created. This is no different than the fed printing billions of dollars and the executives pocketing billions because they printed it. I would understand if the company was super successful like google or apple but they are still in their infancy, this excessive compensation is ludacris.
• Centralized control, Ripple the company holds like 60 billion XRP to do with as they please within the confounds of their escrow plans which are pretty lenient. Enough said.
• Ripple vs XRP, I think ripple will succeed by selling their network/blockchain product but the banks don't really need the XRP tokens! Great they partnered with AMEX but AMEX has already mentioned they don't care about the token, they are only interested in the network.

I am pretty sure XRP will crash, it may go up to 20 dollars but it would be purely on speculation as I don't think the currency will be succesful. There are so many red flags with XRP it is not even funny. I enjoyed the ride up but know that the ride was all hype.

Simply waste.. good bye..

[XRPisVELOCITY]

Just now, battered_lifer said:

I may have been a bit harsh. If so, I apologize brother. Nothing personal.

I suggest you read more in detail about Ripple the company, their partners and those who have bought in to and back ripple,  ripples progress, their vision, the solutions they have created, in detail, and the specific role of xrp in that, and the problem that it is to solve. Then, buy back in.

i disagree.....but then again i can be a di*k sometimes.  You were right the 1st time

[karlos]

All these concerns have already been discussed here:

https://www.xrpchat.com/faq/