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DanielT

Report: XRP Market Cap Could Be Overestimated By Billions

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I hope so! I don’t care what happens, I won’t be selling until I hit the moon haha... but i think it is important to hear pros and cons to be better informed 

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41 minutes ago, DanielT said:

I hope so! I don’t care what happens, I won’t be selling until I hit the moon haha... but i think it is important to hear pros and cons to be better informed 

Messari, con sounds about right. 

Edited by LordVetinari

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46 minutes ago, Pointbreak said:

community should be hanging head in shame

No, the individual or individuals committing the crime should be arrested. There is no other guilty party. Don't try to pin this on anyone else like Ryan is trying to do. Ripple didn't put anyone up to anything and neither did "community" whoever that includes. Ryan calling for some kind of rebuke is misguided. He contacted the FBI. Excellent! First, get the piece of crap who is responsible, then publicly shame the living hell out of the individual. He is dragging innocent people into it. NOT COOL!

Edited by LordVetinari

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15 minutes ago, LordVetinari said:

No, the individual or individuals committing the crime should be arrested. There is no other guilty party. Don't try to pin this on anyone else. Ripple didn't put anyone up to anything and neither did "community" whoever that includes. Ryan calling for some kind of rebuke is misguided. He contacted the FBI. Excellent! Get the piece of crap who is responsible.

Yes I agree that the people over stepping that line and personally attacking, particular clear threats towards the family and offline communications should be locked up.

I do not see any endorsements or encouragement from the community and clearly not from Ripple, IMO it is defiantly not Ripples place to engage in any way to discourage these people to stop, they are not responsible for my actions or anyway in which I personally work with the xrp ledger and communicate my opinions and have no place in telling me what to do. Frankly I hardly expect that these morons would pay any attention.

Honestly though I personally get a dirty feeling with the response from the broader "community", not the above referenced trash but the people that are providing fairly negative responses to the research. It doesnt strike me as intelligent or elegant counter arguments.

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@Pointbreak His research into marketcap and with my knowledge of his previous articles regarding XRP and Ripple, I don't feel he deserves much more of a response than what I wrote earlier. He and his Twitter-bot hunting buddy are not on the up-and-up.

Edited by LordVetinari

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There's always a section in a community that act this way, the trolls, the keyboard warriors, the extremists - part of the human condition imo, you can't have a community without a section of miscreants (although I wish we could!) - a shame for the level headed folks who are then tarnished with the same brush as the nutters.

I'm just desperate for the whole thing to mature so we can replace these headlines with more balanced ones. So and so says XRP market cap is too high because of their XRP short position, so and so replies with verbal threats because they've remortgaged their home and put it all into XRP - wears you down!

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If I understand correctly the main argument of the author is that a certain (large) amount of XRP in under selling restrictions.

IMHO this argument is flawed as selling restrictions shouldn't be part of the definition of 'circulating supply' ... you think Central Banks are free to sell their gold supply anytime they like? How much money on bank accounts is subject to restrictions?

In my opinion the circulating supply is app. 99.991.xxx.xxx XRP, being the maximum amount of 100B minus the burned amount. The escrow of 55B XRP was a free choice made by the owner of the XRP, i.e. Ripple, itself.

Edited by Rey

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16 minutes ago, LordVetinari said:

@Rey  Actually, the main argument from the author is that Ripple is a company committing fraud or trying to cheat investors. 

That's your interpretation of the article ... though I admit that I also question the intentions of the author (and that's really an understatement) ...

I fear we will see even more and even worse FUD arise this year as Ripple and XRP gain more traction. That's clearly a big threat to some people/organizations ...

Edited by Rey

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2 minutes ago, Rey said:

That's your interpretation of the article ... though I admit that I also question the intentions of the author (and that's really an understatement) ...

Count me as super cynical...  Aren't these the same shorts that said XRP was "too fast" - after their original short theses and PR stunts flopped? :rolleyes:

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Just because a holder is under "selling restrictions", doesn't necessarily mean they are bound or will abide by them.  This persons methodology also doesn't account for what would happen if those "restricted" funds were hacked.  If $6 billion was shaved off the market cap, and then the biggest hack of all time dumped all those "sales-restricted" XRP back into the circulating supply again would the market cap have to be changed again?  What the hacker came out afterward and said "don't worry, I'm not going to sell any, I just don't want to, ever!" - would they be taken out of "circulation" again based on trust on the hackers intentions - because that's essentially the authors reasoning in the first case?

Further, I don't see any such arguments being made for the various similar cases that exist for virtually all other crypto.  Satoshi's BTC have never moved - why are they included?  Doesn't seem like they're in "circulation".  Does Vitalik intend to dump all his ETH?  Probably not, should we ask him how much he intends to sell and when, before re-computing Ethers market cap?  How often should we ask?

Personally I think 100B minus burned is the true "in circulating" supply, but given the escrowed amounts are on-ledger, and as such, bound by the rules that define XRP itself, I'm comfortable with circulating excluding perpetually-escrowed amounts.  Anything beyond that is a pretty hard "sell" to me.

All that said, anything that reduces the market cap also reduces the "glass-ceiling" the market cap imposes on most peoples perception of potential value.  If it was to drop by $6 billion, I think many would just see it as a buying opportunity and it would shoot back up to where it was again... most crypto investors don't appear to understand market cap, what it represents, what (little) it's useful for and why we have it.  It's become a game of "win the race", and endless garbage headlines claiming "$20 billion was added/removed to/from the markets today!".  No, it wasn't.  You need to look at the much lower trade volumes figure to determine that, and you need to remove an unhealthily large section of those trades for a variety of reasons to get anywhere near what was actually added or removed; likely a small fraction.

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10 minutes ago, Rey said:

That's your interpretation of the article

No, that my interpretation of the author. It was kind of a joke. You had said :

"If I understand correctly the main argument of the author is that a certain (large) amount of XRP in under selling restrictions." 

As far as the article or report about marketcap, that's not a metric I'm really concerned with. I agree his methodology is flawed, but it does really matter to me. The marketcap today or tomorrow won't mean anything 6 months from now. It like counting" likes" as far as I'm concerned. 

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