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Novogratz Recent Interview on Bloomberg re Institutional Money Timeline

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I heard the name but I never seen the guy in action before. Great interview indeed! It was surprising to hear a bullish prediction for EOS. Maybe it’s just me not trusting tokens without real products..

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"Dec 2017 was cryptos 1996 internet boom, not the 1999 internet:"

From August 2017:

https://www.marketwatch.com/story/heres-how-bitcoin-is-dwarfing-housing-and-dot-com-bubbles-2017-08-30

Remember THIS chart was published in August... Never mind the December run-up which blows through the roof.

 

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Edited by jag216

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14 minutes ago, elias said:

He says 'none of the blockchains are fast enough'.

What about XRPL?

It's like he has never heard of Ripple - or he's being paid to keep his mouth shut.

When a bull talks like this and pumps EOS, you know he's still buying the crap out of XRP.

ACCUMULATE.... ACCUMULATE... ACCUMULATE...

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Edited by jag216

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Michael Novogratz was a very successful hedge fund manager; he was the first noteworthy Wall Street exec to leave Wall Street years ago and enter the crypto space. He dealt with "what is bitcoin?" and "what the heck are you doing?" from all his contemporaries on Wall Street.

Everyone thought he was crazy at the time, but he's been a good ambassador for this space to the institutional investors. I assure you, most institutional investors talked to him personally before they made a move.

However, he is heavy bitcoin and personally involved with Ethereum - he's definitely on that side of the tracks.  He shorted XRP in the December run up. He's pretty much an Eth pumper now.

Edited by Francis

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There isn't going to be a bull run until regulations are in place and institutions can buy at similar cheap prices we are seeing today.  That's just a fact.  You think prices are going to blow up for retail investors only given the machinations underway to accommodate institutional investors (custodial accounts, huge capacity of crypto exchanges being prepared)? Not a chance.  That would be mighty awkward if institutional investors somehow had to join in 80% into a bull-run - how undignified.  No, they will all be there at the starting gates when the market is massively oversold and the daily RSI on most cryptos is sub 20, volume low, everything looking dead.  Nothing less than that will satisfy institutions.  No way will they be treated as second class citizens.

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46 minutes ago, 2ndtimearound said:

There isn't going to be a bull run until regulations are in place and institutions can buy at similar cheap prices we are seeing today.  That's just a fact.  You think prices are going to blow up for retail investors only given the machinations underway to accommodate institutional investors (custodial accounts, huge capacity of crypto exchanges being prepared)? Not a chance.  That would be mighty awkward if institutional investors somehow had to join in 80% into a bull-run - how undignified.  No, they will all be there at the starting gates when the market is massively oversold and the daily RSI on most cryptos is sub 20, volume low, everything looking dead.  Nothing less than that will satisfy institutions.  No way will they be treated as second class citizens.

Been thinking along the same lines for the past month.  Having just bought more XRP the other day I'm betting that this is considered "Cheap" by the insto's.  That being said I wouldn't be surprised to see them manufacture another dip before jumping in.  He mentioned 3-6 months before custody will be finalized, it would be great if a final and decisive security/not security decision is in place before the first wave of insto money floods in.  I also found it interesting how confident he was that our current situation is akin to 96' and not 99'.  He mentioned he wouldn't be surprised to see the real bubble burst when the space is at 20T Mkt cap.  That does make sense.  I just hope XRP is a market leader through utility if/when that occurs.  

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His über example is terrible, this guy seems to fundamentally misunderstand blockchain.  A better example would be to explain how the driver gets paid immediately AND it saves money, without a centralized authority taking a cut.  He had some good points but he seems sort of like a goober.

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3 hours ago, 2ndtimearound said:

There isn't going to be a bull run until regulations are in place and institutions can buy at similar cheap prices we are seeing today.  That's just a fact.  You think prices are going to blow up for retail investors only given the machinations underway to accommodate institutional investors (custodial accounts, huge capacity of crypto exchanges being prepared)? Not a chance.  That would be mighty awkward if institutional investors somehow had to join in 80% into a bull-run - how undignified.  No, they will all be there at the starting gates when the market is massively oversold and the daily RSI on most cryptos is sub 20, volume low, everything looking dead.  Nothing less than that will satisfy institutions.  No way will they be treated as second class citizens.

This works for me and anyone else that isn't in a position of needing an exponentially exploding valuation tomorrow. While I could sit on my current stack and be perfectly content, as long as XRP is sitting in the $0.60s or lower, I'm just going to keep gobbling up chunks until it does go wild or I hit my hard stop fiat cap.

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I'm wondering why he never mentioned Ripple/XRP in a good way. He only spoke about the hype in January...

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