Sold My XRP Today - Here is why

[CryptoMaster1000]

1 minute ago, elias said:

I head lightning was going to do quadrillions tps, have they run into problems?

I haven't read anything about quadrillions TPS. The source I quoted for the millions to billions TPS statement is: https://lightning.network/

[XRPisVELOCITY]

1 minute ago, Troublemecca said:

So you sold your xrp... You got some money... You want a cookie now too?

 

Classic 

[xrpreston]

7 minutes ago, Wizann said:

I just don't get why you would announce that you sold coin at a .70 loss. Don't get me wrong, I've made lot's of bad decisions regarding timing so I get it. I'm just not going to tell anyone the specifics like when I forgot to hit the buy button on Kraken and ended selling a truckload of coin at a loss Oops.

Anyway, I agree with the above statement because this rapid and recent decline is prelude to a ginormous jump soon.

now thats funny, i thought it was just me that does that. accidentally bought 500 shares of the wrong stock due to typing the ticker incorrectly . what a freak out that was.

happy ending , i held till it went up

[Ripple-n-Time]

1 hour 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.

 

 

Folks this post reads like an old Max Entropy post. Let me translate it for you.  If we are to believe this post, then noobie CryptoMaster1000 bought in at .50 cents....a price it never really sat at historically as it made a parabolic move from the 20's to the 70's.  Now, his post translates to the following......."I bought, made a very nice profit....which no one can argue with.....however, the investment has now soured and the actual idea of XRP itself will never make it for the following reasons....."

The game has now gotten real as posts like this will try to spread fear and uncertainty and attempt to shake weak hands from their XRP.  They post at times when an asset will pull back and make people question their investment.  Then, several other brand new members will come it and validate their boiler room comments on the thread.  This is how the game works people.  Hold strong and believe I your investment, or sell quietly and best of luck.  Truth be told, I know cryptomaster1000 NEVER bought and sold at .50 and 2.70.  But he'll have you believe it.  And were to respect his views as contrarian?  They're FUD, packaged with a bow on it.  Send it back.  

[TigeeForce]

T

Edited January 7, 2018 by TigeeForce

[CryptoMaster1000]

1 minute ago, Troublemecca said:

So you sold your xrp... You got some money... You want a cookie now too?

I have my hang ups about hodling... And if I express them it's because I'm seeking reassurance, or perhaps an explanation for something I don't understand.

Once you have sold, you really have no reason to be here... Unless you hope to buy more... Or are just setting yourself up for the "I told you so!" on the inevitable dips... Either way kind of a jerk move.
 

I'm not opposed to get back in on a large dip. I like this forum and enjoy reading others thoughts on why XRP is a good investment. This forum is a good source of information on other coins as well. I am definitely going to be keeping an eye on XRP and may re-enter on news/announcements or possibly on a large correction. There is always a new opportunity and if I sold at 2.70 and can get back in at 1.70 or lower then it was a great move. If it runs up to 10 then I guess I missed out but there are other investment opportunities I can always capitalize on.

[Squofis]

I wish I would have sold when it was over $3 and then buy more when it’s under $2.50.

[manifestxrpdestiny]

I'm not opposed to get back in on a large dip. I like this forum and enjoy reading others thoughts on why XRP is a good investment. This forum is a good source of information on other coins as well. I am definitely going to be keeping an eye on XRP and may re-enter on news/announcements or possibly on a large correction. There is always a new opportunity and if I sold at 2.70 and can get back in at 1.70 or lower then it was a great move. If it runs up to 10 then I guess I missed out but there are other investment opportunities I can always capitalize on.

So xrp is bullsh*t, but you'll hop back on at 1.70?

Gtfoh.

[Ripple-n-Time]

Yes it's BS but it "could" go to 20$, but the fundamentals are all wrong.......I mean honestly.  I could be knitting.  

[CryptoMaster1000]

1 minute ago, Troublemecca said:

So xrp is bullsh*t, but you'll hop back on at 1.70?

I never said XRP is ********. I said I thought it would crash and that it is overpriced and that it is BS that the founders gave themselves so much. Sure Sotashi Nakamoto has 1 billion BTC but he mined it to earn that BTC. There weren't many miners to start with and someone had to help support the network so he did what he needed to in order to support the network until it could support itself.

[Powder888]

CryptoMaster1000...hmmm, seems a little bit of a misguided name there mate. You could try SellOut2000? That has a ring to it.

Edited January 5, 2018 by Powder888

[manifestxrpdestiny]

Yes it's BS but it "could" go to 20$, but the fundamentals are all wrong.......I mean honestly.  I could be knitting.  

The fundamentals? It's the only coin listed that even approaches anything that could be described with business terminology.

I'm done with this. HODLNG.

[CurrencyGuy]

Obvious psy-op.   Not even JV level.  Glaring insincerity.  It doesn't matter.  Nothing can stop what's coming. 

[Francis]

Haha! the only way I would believe this story is if I saw it on the ledger. I'm pretty sure it's not there.

[Sharkey]

39 minutes ago, Trippy said:

They're filthy rich and to be honest I don't care. In that Zero Hedge article it says that it's a "nightmare" that the CEO of Ripple is richer than Mark Zuckerberg. I actually think it's awesome! I can't stand Facebook.

Agree 1,000%.  The Ripple founders have MORE THAN EARNED whatever they have.  There's no comparison between them and the hoodie-clad kid who got lucky "borrowing" the idea of FB to peddle to the masses.  PFFTT!