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We Are Witnessing The Paradigm Shift of Crypto. XRP Will Prevail

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7 minutes ago, tartankiwi said:

Craig white is single handedly destroying the credibility of PoW - and it's hilarious to watch as his ego consumes him. 

How is he able to do this? Do he own lots of bitcoin?

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11 minutes ago, strikerjax said:

How is he able to do this? Do he own lots of bitcoin?

Why is he in the news? 

Because he has influence in the crypto space, and is associated heavily with the development of bitcoin and BCH.  

Would there be such a bloodbath if the BCH fork hadn't happened?  

He's turning the crypto space into a laughing stock. 

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Stop with the McCaleb nonsense... Every time this happens someone throws Jed into the mix. Do your research, actually... Read the research others have done for you on these forums and stop blaming Jed for every price drop.

If anything, Ripple's programmatic sales hurt the market significantly more than Jed does.

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31 minutes ago, strikerjax said:

How is he able to do this? Do he own lots of bitcoin?

In 2013 he and Dave Kleiman had mined 1 million Bitcoin

Short bitcoin, drop it on the market and the price falls. He does not lose any money but because of the enormous fall in prices, BCHABC minning is becoming more and more expensive, and his goal is to financially destroy BCHABC. The losses that he himself suffers with BCHSV are compensated by the sales of Bitcoin

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2 hours ago, spiras said:

I think what is happening is WAR.  

BTC whales/powers that be know that xRapid is ramping up.  So they are selling down BTC to try to sabotage XRP and the use case.  If they can put solid downward pressure on the price, xRapid becomes less cost efficient.  I believe they are hedged with short futures on BTC, so they don't lose too much in the process.  All the FUD campaigns, the bashing of XRP, the price manipulation, etc.. I think the actual war has now begun.

This is a systematic sell down.  This is NOT what we're used to seeing in dramatic price jumps.  This is a sustained downward pressure on price.  This is probably a worse case scenario for xRapid.

However, I believe that Ripple is trying to balance the risk to FIs by supplementing the process with additional XRP and possibly fiat so the FIs don't lose money.  I believe thisnwas stated tonbe  the original plan anyway.

 

It's a game of chicken between BTC and Ripple. 

Who will win?  How long will Ripple have to subsidize the xRapid process?  If they can get the market moving the other direction, then the system could snowball allowing xRapid to show greater cost savings, forcing the FIs to choose the xRapid button over the xCurrent button.  With each xRapid transaction, of course, the liquidity grows, further increasing the value of using xRapid.

 

What I think could happen is that the BTC whales push the BTC price down enough that institutional investors jump in and push the price back up.  This would be a double hit on the whales because they would lose out of buying back in, plus they would be on the wrong side of the futures.  This would effectively destroy the power of the whales and put it in the hands of the institutional buyers. BTC would then likely become a real store of value and much more valuable, in my opinion.

Another thing that could happen is a couple of the BTC whales break ranks and start buying back.  They would end up with more BTC at the end, but screw their fellow whales.

Watch for a sharp bounce back in BTC.  I wouldn't trade right now.

Of course, with $1.3 billion a day being transacted (500 mil in xrp/Fiat)  the cost to Ripple could get very expensive.  How committed are they to pushing this through now.  Do they back off and shut it down or downscale?

It's going to be an interesting week.

 

Disclaimer: I always reserve the right to be completely wrong in my line of thinking.  Bash me if you want, I don't care.

 

@spiras Excellent analysis. I completely agree, the war has just begun. We need institutional and enterprise users/investors to break the back of these BTC whales. If the whales are gone then BTC can go back to being the first mover value coin. There is enough business for all coins with solid usecases. These attacks and price swings are created by ‘idiots at the wheel’. It is hurting all coins.

Edited by cryptoxrp

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Jed can sell each day 0,75% of day before's volume at max.

That said, he could make a small effect on price with his sales only if yesterday was a very high volume day, and today is a very low volume day

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BTW at the time of the deal Jed said that he donated about 2 billion XRP to charities such as MIRI, Literacy Bridge, Give Directly, Mission Bit and others.

Did those charities sell already? What do we know about their holdings?

 

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1 hour ago, Dario_o said:

BTW at the time of the deal Jed said that he donated about 2 billion XRP to charities such as MIRI, Literacy Bridge, Give Directly, Mission Bit and others.

Did those charities sell already? What do we know about their holdings?

 

Damn charities! Selling their XRP! Put them out of business I say!

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