589 EOY could actually be possible.

[dontsellmeadog 270]

3 hours ago, PickleRick said:

I find it hard to believe that people find it hard to believe that $589 is possible.

From January 2017 to January 2018 XRP went up like over 50,000%....

The same jump this year could put it at well over $300, the biggest difference is that we'll finally have real world utility. So it's more than possible it will happen.

Swift doesn't want to become some forgotten part of financial history. They really have no choice but to join up with Ripple.

 

Well, because at some point it is no longer sustainable.  Just because of an early 50,000% increase doesn't automatically make it possible to do it again.  At some point, it can't.  And when it does hit $589, why not another 50,000% increase? If not, why not, and why isn't that same logic applied to those who "find it hard to believe that $589 is possible" right now?

[Seoulite 927]

8 hours ago, HenrySeldom said:

Well, wouldn't the surge to nearly $5 billion in trading volume last week be the start of that?

No because these institutions don't just buy in one huge chunk that causes the price to massive increase, because now they have to buy at double the price they did before. Institutions and well-moneyed individuals accumulate slowly so as not to affect the price too much until they are ready for it to go, then they might give it a spike and let other factors take over. If anything, this is likely to be the end of the buying phase, not the beginning. 

[Raiden 240]

Lmao... This is the fun part about being in XRP.. My rational self would say you're full of... well... **** ! 

 

But the truth is in this new market, nobody has a clue what the value of XRP can be. I dont think its going to be something insane like 589. But 3 years ago i would have said the same thing about 0.50...

 

Thank god my Nasdaq stocks are acting like expected. 

[TinyRick 3,504]

2 hours ago, dontsellmeadog said:

Well, because at some point it is no longer sustainable.  Just because of an early 50,000% increase doesn't automatically make it possible to do it again.  At some point, it can't.  And when it does hit $589, why not another 50,000% increase? If not, why not, and why isn't that same logic applied to those who "find it hard to believe that $589 is possible" right now?

Sure, at some point it is no longer sustainable. Whenever that point is, it's sure as **** not now or anytime soon.

This is the beginning of a new era of digital assets being used to move money. How much money? Take a look at the chart below yourself. Will it happen overnight? Nope. But it WILL happen.

So who's to say we cannot get from .50 to $500? From $500 to $10,000? 

[OzAlphaWolf 11,591]

5 hours ago, zerpdigger said:

please, please, please can we stop this utter madness and stupidity about a random made up figure once and for all?

The figure was neither random nor made-up. IMO, it has a double meaning. One is as signifier for an arbitrarily high number. The second is as an informational marker, an identity pointer to something beyond itself that holds the key as to why the high number will exist, or perhaps, is necessary.

So no, I cannot agree that it's madness or stupidity. While I was once an absolute skeptic about BG123, I'm not any longer. There reaches a point where a string of coincidences can no longer be merely coincidence.

Do I think XRP will be at some astronomical price by EOY? I reserve judgment on that. I think it will happen but I don't know when. But I do also think that something is going to happen this year that will produce an absurd price spike.

[Kpuff 717]

Dude even after this doesn't happen people will still be saying 589 next year. It's a phenomenon. I guess we might as well try to have fun with it

[BibleChronologyXRP 286]

1 hour ago, PickleRick said:

Will it happen overnight? Nope.

No, it will happen overnight !!?

[Guest]

56 minutes ago, OzAlphaWolf said:

The figure was neither random nor made-up. IMO, it has a double meaning. One is as signifier for an arbitrarily high number. The second is as an informational marker, an identity pointer to something beyond itself that holds the key as to why the high number will exist, or perhaps, is necessary.

So no, I cannot agree that it's madness or stupidity. While I was once an absolute skeptic about BG123, I'm not any longer. There reaches a point where a string of coincidences can no longer be merely coincidence.

Do I think XRP will be at some astronomical price by EOY? I reserve judgment on that. I think it will happen but I don't know when. But I do also think that something is going to happen this year that will produce an absurd price spike.

You’ve come around.....EXCELLENT...

[2ndtimearound 6,969]

7 hours ago, AllinXRP said:

It also means that Ripple would have a street value of somewhere around $25 T. 

Or somewhere around 25x the largest company currently. 

?

Many have explained that market cap is not wealth.  NO, it is not "street value" - market cap can never be liquidated.  Market cap is created from the margins - the most recent buy and sell activity determines market cap.  100Bn total circulation of XRP,  and the sale of well under 1% of that total supply determines the price of the entire 100%  of the total circulation.  That's how it works both ways - XRP has had $10Bn wiped off its market cap in the last 4 days or so - all from the margins.  I'm so tired to say this, but I'll say it again - if you try to liquidate the entire circulation to get that so-called "street value" that you mention, the average sale price of each XRP would be substantially lower than the initial XRP price when the first sale went through - I mean like....perhaps 90%+ lower (depends how it's sold, how the market reacts). You can never, ever - EVER - realise market cap - not even CLOSE to realising it.  Same with the housing market or any market.  You honestly think that if the UK housing market was worth say £20Trn, then every single home owner put up their house for sale....you think the average house price would just remain the same? LOL.  There would be a humungous house price crash because it would become a buyer's market overnight.  If just ONE person learns something from this comment, then I guess it's worth it.

Edited September 25, 2018 by 2ndtimearound

[2ndtimearound 6,969]

13 hours ago, Chris_Reeves said:

Only someone who doesn't know enough about how markets work doesn't want to pay attention to market cap. No private enterprise, Ripple specifically, will be allowed to hold that much value whether we like it or not.

There is no "allowed" here.  You realise that market cap is a wholly theoretical evaluation....it's a rough metric to determine the value of an asset.  It is not wealth.  It is not "street value".  It cannot be liquidated.  It cannot be realised in any way, shape or form.  XRP lost $10Bn in its market cap in the last 4 days.  Where did that value go? Who spent it? Is it behind the sofa? It's theoretical. This might blow your mind but...  it didn't exist in the first place!

Edited September 25, 2018 by 2ndtimearound

[Flintstone 7,438]

@Chris_Reeves As above, purely theoretical. If I had 100 pebbles and sold you 1 for $1 then my pebble market cap is $100.

P.s I sold the previous 99 for $0.01

So my pebbles have a market cap of $100 with only $1.99 invested.

[Chris_Reeves 848]

6 hours ago, 2ndtimearound said:

There is no "allowed" here.  You realise that market cap is a wholly theoretical evaluation....it's a rough metric to determine the value of an asset.  It is not wealth.  It is not "street value".  It cannot be liquidated.  It cannot be realised in any way, shape or form.  XRP lost $10Bn in its market cap in the last 4 days.  Where did that value go? Who spent it? Is it behind the sofa? It's theoretical. This might blow your mind but...  it didn't exist in the first place!

I"m sorry but if you don't see the problem in an enterprise controlling that much "value", then we probably aren't on similar enough wavelengths to have a discussion.

[Chris_Reeves 848]

I appreciate the thoughtful discussion here even though I may disagree with a few of you. At the end of the day, it doesn't necessarily matter I guess. I'm still holding XRP and hope for an eventual price rise from the utility of the coin over other digital assets, like I assume most of us are.

[Guest]

3 minutes ago, Chris_Reeves said:

I"m sorry but if you don't see the problem in an enterprise controlling that much "value", then we probably aren't on similar enough wavelengths to have a discussion.

But that's the problem. You say that the market cap is a real value added to the coin. He says that market cap is artificial value added to the coin.

That's why market cap doesn't matter.

Many people bought at $0.04 per XRP, others bought at $0.50 and at $2. It's impossible to count the real value added to a cryptocurrency. Market cap is only the last transaction price on an exchange multiplied by the circulating supply. 

[RipplePiercing 1,130]

6 hours ago, Flintstone said:

@Chris_Reeves As above, purely theoretical. If I had 100 pebbles and sold you 1 for $1 then my pebble market cap is $100.

P.s I sold the previous 99 for $0.01

So my pebbles have a market cap of $100 with only $1.99 invested.

This is honestly the best 'idiot proof' explanation I have seen on this topic...

*Tip's hat*

Please accept my sincere thanks ?