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Eric123

Epic Pennant on BTC Chart

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25 minutes ago, AlejoMoreno said:

I agree with you 100% Thank you for the reminder.

The good thing is that Ripple claims to be reducing programmatic sales. So hopefully that helps. I really think they should stop programmatic sales and only do their sales OTC. They shouldn’t “have” to do these programmatic sales.

We can’t do anything with the whales but hopefully the bottom does remain a bottom and not become another top.

I thought Ripple said they stopped OTC sales but not programmatic sales.  BTC has mining and sale of new coins.   Peroanally I do not think the programmatic sales have much more direct impact on prices than BTC mining.   Ripple do need funding to expand the XRP ecosystem, and the money is largely reinvested into  projects that will have long term positive impact on XRP prices.

Edited by Julian_Williams

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@RootSilent for a few reasons. 100 billion tokens were created by one entity at no cost and billions have been distributed again for no cost to whales that now dump it on the public. It is pure profit for xrp whales at any price so there is no floor to price.. 

@Cooliozxrp the sketchy truth behind xrp is enough no conspiracy theory is necessary. Basically Ripple found a way to sell equity shares without giving away any actual equity. INGENIOUS. 

But whales will eventually pump price again.

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52 minutes ago, Julian_Williams said:

I thought Ripple said they stopped OTC sales but not programmatic sales.  BTC has mining and sale of new coins.   Peroanally I do not think the programmatic sales have much more direct impact on prices than BTC mining.   Ripple do need funding to expand the XRP ecosystem, and the money is largely reinvested into  projects that will have long term positive impact on XRP prices.

 Yes the stock the flow ratios from escrow releases are no more disadvantageous than bitcoin mining currently.  Brad Garlinghouse said it a while back and I’ve seen an article out there somewhere that crunch the numbers to prove it .  Like Dr. Ed said, the impact is more likely the big poppa bag holders releasing them zerps.

Now wouldn’t it be interesting if they did maximum monthly escrow releases halvings every so often?

Edited by ManBearPig

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1 hour ago, VegitaXRP said:

@RootSilent for a few reasons. 100 billion tokens were created by one entity at no cost and billions have been distributed again for no cost to whales that now dump it on the public. It is pure profit for xrp whales at any price so there is no floor to price.. 

@Cooliozxrp the sketchy truth behind xrp is enough no conspiracy theory is necessary. Basically Ripple found a way to sell equity shares without giving away any actual equity. INGENIOUS. 

But whales will eventually pump price again.

What is the statistic?  97% of BTC owned by 2% of the BTC community - something along those lines.  Much more uneven distribution than XRP.  Those BTC whales bought their BTC when prices were less than a few dollars.  BTC whales dump on the BTC market just like XRP whales do.  BTC has still managed to climb in price. 

The biggest XRP whales is acting responsibly, having locked 55 billion in escrow and harnessed Jed's allowable sales.  Ther eare some big whales like Clover Coin who bought a billion of XRP for very low prices, and from what I understand they sell about a million XRP a day.  The money from Ripple sales are used constructively for developing the XRP ecosystem, whilst money made by BTC whales goes into paying electricity bills and the pockets of anonymous whales.

I know which system makes sense to me as an investor and which system looks like a suspiciously unfair market.

Edited by Julian_Williams

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Why does it always descend into an 'either or ' conversation? Most ordinary guys are investing in whatever crypto that they hope will make them a few $$$.

Maybe the whole thing has become a scam, miles away  from the early days of good intentions of non-government controlled currancy, to the news of multiple times profit.

Most regular folks are the same in the Crypto market. They just want to earn a profit above bank interest rates, with a slight hope that they may be lucky and collect Big.

This isn't a post to anyone in particular. I just think we should all wish each other all the best in what we choose to collect

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16 minutes ago, WarChest said:

Why does it always descend into an 'either or ' conversation? Most ordinary guys are investing in whatever crypto that they hope will make them a few $$$.

Maybe the whole thing has become a scam, miles away  from the early days of good intentions of non-government controlled currancy, to the news of multiple times profit.

Most regular folks are the same in the Crypto market. They just want to earn a profit above bank interest rates, with a slight hope that they may be lucky and collect Big.

This isn't a post to anyone in particular. I just think we should all wish each other all the best in what we choose to collect

The host of this thread, Eric 123, has demonstrated that BTC still has good investment potential and we all know that investors who sold their XRP for BTC in Jan have done very very well..  My view is that long term BTC is high risk and XRP is medium/low risk.

Edited by Julian_Williams

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3 hours ago, VegitaXRP said:

@RootSilent for a few reasons. 100 billion tokens were created by one entity at no cost and billions have been distributed again for no cost to whales that now dump it on the public. It is pure profit for xrp whales at any price so there is no floor to price.. 

@VegitaXRP - I actually disagree with the first point, provided the price-through-utility theory is correct; the more people need/choose to hold the asset, the higher the price floor will be. With that said, I think we're far, far, above what the price floor should currently be based on utility and are only holding this point due to speculation. In any case, the presence of a floor in no way protects an asset from manipulation - for example, if you look at the long term logarithmic scale of BTC you could see what appeared to be a strong bottom in 2018, which broke in November to take us down to the 3k range. Was the 3k range the true bottom, meaning the price was artificially high that whole time? Or was the ~6k range the real bottom, with the plunge to 3k due to mass manipulation. I think it's a moot point. 

The reason I asked the question I did, is because I don't think there's any way one could say with any confidence that xrp in particular is more manipulated than 'all other crypto-currencies' (I mean what about dogecoin or god forbid BSV lol?). That's the sort of blanket statement I'd like to stay away from when talking about this because I see people time and time again taking a strong speculative perspective to manipulation.

With that said, I myself think the entirety of the crypto market is manipulated a great deal, but that's purely based on the fact that the TA I expect to occur sometimes goes straight out the goddamn window in many cases, with huge buy/sell walls appearing out of thin air for example. You are correct in that the ambiguous security status of cryptos allows for some funny business to occur. For instance, if xrp were to be considered a commodity, any laws regarding 'insider trading' would go right out the window. The same could be said for any other currency. The fact is, this is a (relatively) new space as far as regulation is concerned and the SEC has been caught with their pants down. I'd love them to clear some of this up so we could move along from this potential for manipulation, but it's probably going to take a little while longer I think as they don't want to do it wrong and set a bad precedent for future currencies. 

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10 hours ago, Julian_Williams said:

I thought Ripple said they stopped OTC sales but not programmatic sales.  BTC has mining and sale of new coins.   Peroanally I do not think the programmatic sales have much more direct impact on prices than BTC mining.   Ripple do need funding to expand the XRP ecosystem, and the money is largely reinvested into  projects that will have long term positive impact on XRP prices.

They are reducing programmatic sales based on bad volume metrics from coin market cap website. They are reducing OTC sales as well but not completely eliminating them, forget all of the details they gave, I'm sure someone else will chime in.

There is a lot more demand for Bitcoin so the market is able to soak up whatever Bitcoin is sold on the market from mining generation. Programmatic sales have a much larger effect on XRP price as a result than mining. I know Ripple has been defending their sales (obviously as any company would) but I disagree about the effect on market price.

Ripple obviously second guessed themselves a few times on that effect as well since they had to bring the topic  with different explanations many times and ultimately decided they were using bad volume metrics and needed to reduce their sales immediately.

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XRP broke through, the short term downtrend  - looking at the long term chart this is really insignificant though.  SWELL is happening in less than a month - November 7-8 - I don't expect any positive price movement around SWELL as usually the contrary occurs but I doubt we fall this year as the price is already in the toilet.

Bitcoin keeps moving toward the end of this pattern which will occur at the end of the month if not sooner.  

10 14 19 bitcoin.png

10 14 19 XRP.png

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2 hours ago, Eric123 said:

I don't expect any positive price movement around SWELL as usually the contrary occurs but I doubt we fall this year as the price is already in the toilet.

I understand the sentiment, but cynicism isn't really a good predictor of price movement. 

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