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Eric123

Epic Pennant on BTC Chart

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The bitcoin chart, like an old man that has taken viagra, is firming up. I'd say a close above $7,500 or so confirms a double bottom reversal pattern and a close above $8,500 breaks us above the downtrend we have been in since July.   

 

12 29 19.png

Edited by Eric123

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hey @Eric123 , when do you think the price will start to go up ? 

You thought it would be November 2019,  do you think may 2020 can be ?

I've got some cash and not sure I want to invest more atm 

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53 minutes ago, Baka said:

You thought it would be November 2019,  do you think may 2020 can be ?

I think 2020 will be better than 2019 but that really shouldn't be that hard to do as 2019 wasn't a good year.

I buy bitcoin is small amounts when we get dips. 

XRP might be a better buy, but I'm not sure how I feel about XRP.  I did not like that Ripple invited YouTubers (that frankly aren't very good) to the Swell conference, that move kinda gave me a Bitconnect vibe.  I'm not selling my XRP but I lost some confidence in the project. 

I think the market can start moving up at any time, but probably not before the New Year.

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1 minute ago, Eric123 said:

I think 2020 will be better than 2019 but that really shouldn't be that hard to do as 2019 wasn't a good year.

I buy bitcoin is small amounts when we get dips. 

XRP might be a better buy, but I'm not sure how I feel about XRP.  I did not like that Ripple invited YouTubers (that frankly aren't very good) to the Swell conference, that move kinda gave me a Bitconnect vibe.  I'm not selling my XRP but I lost some confidence in the project. 

I think the market can start moving up at any time, but probably not before the New Year.

Ripple should burn their escrows. They can get funding as we have seen. 

There is no need for another 50B XRP.

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3 minutes ago, Xill said:

Ripple should burn their escrows. They can get funding as we have seen. 

There are downsides to that.

Per terms of the escrow Ripple can only access 1 billion per month.  So even if they chose to burn it it would take about 4.5 years to accomplish it.  Also, if Ripple burns the escrow they are no longer the entity that would benefit most from XRP going up in value.  Why would Ripple even care about XRP after they burned the escrow? I would think if they burn the escrow they would probably abandon XRP entirely shortly thereafter.

  

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27 minutes ago, Eric123 said:

There are downsides to that.

Per terms of the escrow Ripple can only access 1 billion per month.  So even if they chose to burn it it would take about 4.5 years to accomplish it.  Also, if Ripple burns the escrow they are no longer the entity that would benefit most from XRP going up in value.  Why would Ripple even care about XRP after they burned the escrow? I would think if they burn the escrow they would probably abandon XRP entirely shortly thereafter.

  

XRP can stand for itself. It doesnt need Ripple. The only thing it needs is value, value from what it was made to be. Therefore if it become adopted escrow is not needed. If not adopted escrow won't help anyway.

 

Escrow is just another way to print money, exactly what the fed do with the USD. 

Edited by Xill

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26 minutes ago, Xill said:

XRP can stand for itself. It doesnt need Ripple

Correct me if I'm wrong   - but basically XRP presently has two funcions.

1. To facilitate cross border transactions.

2. A funding vehicle for Ripple.

So far it has been used almost exclusively for #2.  If Ripple abandons XRP it would no longer be used for either. 

Tell me - what would XRP be used for without Ripple. 

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48 minutes ago, Eric123 said:

Correct me if I'm wrong   - but basically XRP presently has two funcions.

1. To facilitate cross border transactions.

2. A funding vehicle for Ripple.

So far it has been used almost exclusively for #2.  If Ripple abandons XRP it would no longer be used for either. 

Tell me - what would XRP be used for without Ripple. 

1. It can achieve this as it is now. It can achieve it also with only 1b in circulation.

 

2. As we have seen they just got 200m funding.

 

Escrow is printing money for them. They should burn it as Stellar did.

Edited by Xill

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2 hours ago, Xill said:

XRP can stand for itself. It doesnt need Ripple

Outside using XRP to finance their operation - Ripple doesn't need XRP

But you wrote that XRP doesn't need Ripple.  How so?  Who would use XRP and what would they use it for if Ripple abandons XRP.

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52 minutes ago, Xill said:

Escrow is printing money for them. They should burn it as Stellar did.

Nope. That would be the worst possible decision for Ripple. If that happened I would sell my bag soon after. Short term there will be a small pump, long term  it would mean that Ripple admits that XRP is pretty useless. If he had the hope to find any use for XLM you think Jed would burn it like he did? :spinlol:

Nobody in his right mind will destroy something of utility just like that. IF (and that is a big IF) Ripple succeeds the 100B XRP won't be enough for this world. 

Edited by Panopticon

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1 hour ago, Xill said:

1. It (XRP) can achieve this (cross border remittance) as it is now. It can achieve it also with only 1b in circulation.

Well so far we have seen little to no interest by banks and FI's to utilize XRP on their own. Any progress XRP has made towards facilitating cross border remittances has been the direct result of Ripple. I'm fairly confident with out Ripple backing it, XRP would just become another useless crypto currency.

Ripple doesn't need XRP, but XRP definitely needs Ripple, or at least some sort of well organized, funded, and connected organization, to see it reach it's potential.

Edited by Zerpple

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