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Sold My XRP Today - Here is why


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Good luck! If you don't believe in the asset then selling is the right move. You have to do your own research and make a decision you can live with. Looks like you made a nice profit so kudos. One que

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

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Your first post on this forum is a post to tell us you have sold your XRP? With FUD arguments that have not changed since you have bought in and have also been discussed everywhere?

I hope you will just sell and move on, and not keep on flooding the forum with FUD. Good luck to you.

 

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6 hours ago, CryptoMaster1000 said:

Haha thank you, I am getting reemed for sharing a bearish viewpoint on an XRP fans website! lol. It's all good. I do have some bullish thoughts on XRP that I did not share which are pluses for the currency but I just feel the cons outweigh the pros at this time.

? ISH? , most of what you wrote was bullsh!t. 

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6 hours ago, CryptoMaster1000 said:

Haha thank you, I am getting reemed for sharing a bearish viewpoint on an XRP fans website! lol. It's all good. I do have some bullish thoughts on XRP that I did not share which are pluses for the currency but I just feel the cons outweigh the pros at this time.

So you shared your doubts, but not your bullish thoughts. Wow, thanks. 

And you shared your doubts with your beloved community after you sold.

I hope you treat your beloved ones differently. 

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1 minute ago, Ripple-Stiltskin said:

So you shared your doubts, but not your bullish thoughts. Wow, thanks.

This says it all! It is quite clear what his goals are.

I find people that sell their coins and afterwards go bash on forums thinking they can talk the price down kind of naive.

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7 hours 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.

6 out of the current top 10 coins are non mineable, (a much more appropriate term, how can something be pre-mined if it can't be mined in the first place) look at the total supply of Tron & Stellar, Tron has 65 billion already in circulation stellar has total supply larger than XRP. Go and sit back and watch Bitcoin's market dominance continue to be eroded by the so called centralized coins with real use cases.

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2 hours ago, XRPto50dollars said:

years ago, an annoying coworker kept buggin me @ 7am, so i said,  "I see my assassin failed.."

his response.. "hahahaha...wait what??"

i walked away and kept looking over my shoulder as i pretended to talk on my phone :lol:

office war tactics at their best :JC_doubleup:

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9 hours ago, CryptoMaster1000 said:
  • The overall supply even at 38 billion is MASSIVE. Basic supply and demand economics say this is a big problem.

You lost me here. Basic supply and demand economics? You can't just look at a number and say that because it is so big, 'basic supply and demand economics' means that there is too much to go around. The US produces around 75 billion eggs every year. By your logic, basic supply and demand says that this is a big problem.

Try to remember that the absolute number of units has nothing to do with supply and demand, it is always the number of units supplied relative to the number of units in demand.

Regardless, no hate and congrats on your profits.

DISCLAIMER: please do not short the US egg market on this advice.

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I get bothered by the fact that everyone is starting to complain about how much money Chris Larson and other originals to the company now have. Since when has making money because of innovation a bad thing? Creating something that could possibly change the world forever going forward should be rewarded. 

This just gets rediculous in our society today and it is fueled by nothing more than envy. It is like when someone finally hits the Powerball. Everyone else who plays says to themselves .. "what a *********.. hopefully he blows it all". For some reason our society hates seeing people succeed and be rewarded for their hard work or luck in that example. 

An article comes out this week about how much their potential net worth is now and NOW all of a sudden people have a problem with it. What about when XRP was worth $0.15? Didn't hear anyone complaining about how much XRP they owned back then even though anyone with a brain knew what the potential was. 

It doesn't bother me one bit. I don't care if they become trillionaires. You know why? Because we will all be a hell of a lot richer too. It just really grinds my gears haha

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1 minute ago, FixnUrPowerline said:

I get bothered by the fact that everyone is starting to complain about how much money Chris Larson and other originals to the company now have. Since when has making money because of innovation a bad thing? Creating something that could possibly change the world forever going forward should be rewarded. 

This just gets rediculous in our society today and it is fueled by nothing more than envy. It is like when someone finally hits the Powerball. Everyone else who plays says to themselves .. "what a *********.. hopefully he blows it all". For some reason our society hates seeing people succeed and be rewarded for their hard work. An article comes out this week about how much their potential net worth is now and NOW all of a sudden people have a problem with it. What about when XRP was worth $0.15? Didn't hear anyone complaining about how much XRP they owned back then even though anyone with a brain knew what the potential was. 

It doesn't bother me one bit. I don't care if they become trillionaires. You know why? Because we will all be a hell of a lot richer too. It just really grinds my gears haha

Actually, there were a lot of discussions about how much they owned back then. Back when we were at $0.15, and back when it was $0.006, and during ArmaJEDdon when it was $0.004. I've been around back then so I know. The 20% assignment to founders was always a point of contention. It's just that now it's worth billions so it spilled over into the media, that's the only difference.

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3 hours ago, mrenne_17 said:

This says it all! It is quite clear what his goals are.

I find people that sell their coins and afterwards go bash on forums thinking they can talk the price down kind of naive.

I think it is less trying to talk the price down but rather trying to validate his thoughts and help himself cope with a tough decision. Kind of a way to convince yourself you made the correct one. I do it all the time lol 

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