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BeSeriousXRP

Still nothing?

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No work, no cred.

There could be another dip. But savvy traders like yourself (#sarcasm) must acknowledge that steadily rising volume for the last month is a sign that that the market is turning. 

Traders are made in two ways, in my experience. They either learn from somebody at a professional trading desk, or they get into it after their silly speculating puts them underwater. The second way is the hard way, and that's how I learned. When you learn to trade it tends to make you into a smug SOB. Resist the temptation.

Traders tend to miss out on big trends because trading requires one to take a set-up and take the profits when they happen. Those who manage to identify major bottoms, buy in, and hold until market tops tend to beat traders over the long run. Especially because of the way swing trades are taxed, for one thing.. Not sure where you are, but here I have to pay taxes on short term gains.

Occasionally, maybe once a decade, a unique opportunity to buy and hold and make real bank comes along. If you can find bottoms and ride them up, you can prosper with far less work than a trader puts in. The reason I don't trade more is simply because I'm lazy, and because I already have a job that pays me well. Nothing against trading for a living, but it's work.

The Porsche pic is a tell, btw. Some people make owning a Lambo their goal. My goal is to make work of any kind optional for the rest of my life, trading included. 

 

 

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XRP seems to be slowly morphing into a kind of stable coin as, besides following the BTC price moves, there appears to be correlation forming between XRP and some stable coins. I would say that it may be a blessing in disguise, as XRP is not backed by anything, except its utility (hope of utility at this time, which is essentially zero), but still it's resistant and stable. I would prefer XRP to be a stable and slow-growing asset over it being a swinger. That stability would be the best way of de-coupling from BTC and the market in general.

BUT, the relative stability of XRP also describes one condition specific to XRP and not characteristic to other cryptos. There are no significant parties interested in XRP price rising, instead there are significant parties interested in XRP price discovery. I was fuming about this for quite some time, now I take this condition, that helps keeping stability, as a silver lining to the cloud, for I can venture from XRP into speculative things and then return, knowing that XRP is still there.

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Posted (edited)
49 minutes ago, rom said:

XRP seems to be slowly morphing into a kind of stable coin as, besides following the BTC price moves, there appears to be correlation forming between XRP and some stable coins. I would say that it may be a blessing in disguise, as XRP is not backed by anything, except its utility (hope of utility at this time, which is essentially zero), but still it's resistant and stable. I would prefer XRP to be a stable and slow-growing asset over it being a swinger. That stability would be the best way of de-coupling from BTC and the market in general.

BUT, the relative stability of XRP also describes one condition specific to XRP and not characteristic to other cryptos. There are no significant parties interested in XRP price rising, instead there are significant parties interested in XRP price discovery. I was fuming about this for quite some time, now I take this condition, that helps keeping stability, as a silver lining to the cloud, for I can venture from XRP into speculative things and then return, knowing that XRP is still there.

I think this is fairly profound and you might be 100% correct. But please do remember that about last October when I started reading seriously about cryptos....that was a popular saying about BTC, that it had become a stablecoin.

My argument against your take is just that XRP is still correlated to BTC, like it or not (and I don't, but it's a thing). This whole market space has nowhere to go but up, and until good metrics are established for evaluating cryptos (and more especially pre-mined coins) that FOMO is a huge factor. Like right now, if we suddenly got some regulatory clarity and a half dozen ETF's sprang up, XRP would be bought, and bigly. That matters.

But in general I tend to agree with your take as a long term thing....I am trying myself to establish better criteria. I have played with Susan Athey's app ad nauseum and I think it's a start, but not the whole picture, perhaps.

Right now, I'm trying to explore....like comparing the 100B XRP to known supplies of currencies....like (for instance) the M1 money supply. (US and Europe together equals more than 10 Trillion currently). Asking questions like "Of that 10 Trillion, how much could be captured by a fast, trusted digital asset?" I don't have answers, but I think these are interesting questions. Perhaps I am behind the learning curve and my betters here can school me. That is why I come here,

I do like the arguments that are centered around how known quantities of related market trade could affect price.......like the dollar volume of SWIFT and the dollar volume of Forex and so forth. I don't mind mentioning that Susie Crew is a friend of mine, and we argue about something almost every day. 

Thanks for your insight.

Edited by dr_ed

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1 hour ago, dr_ed said:

I think this is fairly profound and you might be 100% correct. But please do remember that about last October when I started reading seriously about cryptos....that was a popular saying about BTC, that it had become a stablecoin.

Thanks for your thoughtful response! Of course XRP swings with BTC like IDK what, like every other crypto. But BTC cannot be a stablecoin in the near future, because there are too many significant parties interested in its price growing AND capable of initiating market reactions. BTC price just cannot stabilise until such parties leave the market. On the other hand, Ripple has told countless times, that they are interested in XRP price growing, but they are not doing anything to promote this directly in the market. And there is no one else around. Basically Ripple are interested to find out market's long term opinion on the price, which is based on utility and community sentiment. Notice, I did not write market sentiment (FOMO). So we have an actual un-backed stablecoin candidate.

And one more thing: "Share of voice = share of mind". Ripple is finally building its share of voice. I wish them the best in this. So, sooner or later XRP will break free.

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Nice discussion, but the question is: Is there significant utility by now as Brad promised us, or is there no (real) utility yet which means things are delayed or even cancelled.

Also it is very strange that Ripple isn't really promoting XRP. They hardly mention XRP in Tweets and YouTube videos....that's strange ...isn't it?

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27 minutes ago, BeSeriousXRP said:

Nice discussion, but the question is: Is there significant utility by now as Brad promised us, or is there no (real) utility yet which means things are delayed or even cancelled.

Also it is very strange that Ripple isn't really promoting XRP. They hardly mention XRP in Tweets and YouTube videos....that's strange ...isn't it?

Another good point. I don't think the use case for XRP with Ripple has gotten past baby steps. But "significant utility" is not the same as "significant adoption". And I see tons of progress. I think you have to give it more time. The big wallet transfers that have been going on might be reason for some optimism. Not my area of expertise either, but I take it as evidence things are going on behind the scenes. I think tons of XRP is going to exchanges now, and that should be an upward force on price.

Bankers are notoriously secretive, and Ripple has to deal with that whole paradigm..I do expect they have their hands tied to some extent....they're trying to make money, not promote XRP, or drive the price of XRP higher. They have to worry about the SEC until we get some better guidance too. They benefit from distancing themselves from places like this. That's why having Bob drop in is such a cool happening. He doesn't have to worry about that (I hope.)

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On 11 March 2019 at 7:47 PM, JannaOneTrick said:

I know everyone has been calling out this triangle for weeks now and that a breakout is around the corner.

I don't want to crush anyone's hopes but I will say a few things about this.

  1. The 0.8$ surge was experienced by XRP only, and was not an overall market behavior, it was due to tests being performed for 5 consecutive days between 1pm - 5pm GMT. The price has been slowly readjusting to the actual price it should have been without the September spike.
  2. Bitcoin is still leading the market.
  3. We still have a good 6 months before the consolidation phase ends.

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1. How do you know the spike was due to tests being performed? It's been widely speculated yet, as far as I'm aware, not yet proven

2. Agreed

3. In your opinion. There's lots of sparks that could wake the Whales up from their self imposed Crypto Winter before then. For example a Bitcoin ETF announcement or BAKKT or Fidelity going live.

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I have been waiting for 2 years now listening to the "specialists of nothing" to give opinions about pricing, adoption and so on, and here we are now...... Been at 0.30 cents and still having the same "specialists" saying the same things while proven the opposite. 

 

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4 minutes ago, stallion81 said:

I have been waiting for 2 years now listening to the "specialists of nothing" to give opinions about pricing, adoption and so on, and here we are now...... Been at 0.30 cents and still having the same "specialists" saying the same things while proven the opposite. 

 

Even Hodor stopped his longgggg blog posts.

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42 minutes ago, BeSeriousXRP said:

Even Hodor stopped his longgggg blog posts.

You guys should seriously consider selling all your XRP as soon as possible. If you don't believe in something, NEVER EVER INVEST IN IT!

Stop whining dammit. Sounding like my grandma who spilled tea on her new carpet.

Hodor has NOT stopped he's blog posts. If you don't even know this then probably you don't know much about XRP either (and that's not trying to be nasty). Here is Hodor's blog:   https://xrpcommunity.blog/author/hodor/ Notice the dates of the posts. It's an eye opener.

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On 3/11/2019 at 2:47 PM, JannaOneTrick said:
  • The 0.8$ surge was experienced by XRP only, and was not an overall market behavior, it was due to tests being performed for 5 consecutive days between 1pm - 5pm GMT. The price has been slowly readjusting to the actual price it should have been without the September spike.
  •  

 

What evidence is there that the price action was due to some kind of RippleNet testing and not just a short squeeze?

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On 13. mars 2019 at 8:37 AM, BeSeriousXRP said:

Even Hodor stopped his longgggg blog posts.

Yes, XRP looks more and more like a bust!!

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On 3/13/2019 at 9:25 AM, RipplingAlong said:

You guys should seriously consider selling all your XRP as soon as possible. If you don't believe in something, NEVER EVER INVEST IN IT!

Stop whining dammit. Sounding like my grandma who spilled tea on her new carpet.

Hodor has NOT stopped he's blog posts. If you don't even know this then probably you don't know much about XRP either (and that's not trying to be nasty). Here is Hodor's blog:   https://xrpcommunity.blog/author/hodor/ Notice the dates of the posts. It's an eye opener.

But fact remain that XRP doesn't move on her own. It's 100% coupled to Bitcoin, has no utility whatsoever and no significant bank is using it. Actually nobody actually uses XRP otherwise we would have seen some volume by now.

BTW: I own more XRP than the majority here.

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Posted (edited)
22 hours ago, BeSeriousXRP said:

But fact remain that XRP doesn't move on her own. It's 100% coupled to Bitcoin, has no utility whatsoever and no significant bank is using it. Actually nobody actually uses XRP otherwise we would have seen some volume by now.

BTW: I own more XRP than the majority here.

Coupled with BTC. Check.

Until it isn't. It will not always be so.

No Utility?  That's simply wrong. The real genius IS in the utility. Don't focus in so much on Ripple and xRapid.

No significant bank using it? No, can't agree there either. At this point, each new Ripple customer is important for Ripple's success. That's good for XRP hodlrs.

No volume? It's very early. Give it some time.

Position size is a personal thing. I probably own more than some people but less than some others here. My view is that if you own too little you're limiting your upside, but that if you own XRP exclusively, that you might give up some great gains if XRP lags a little in the next up leg.....it's a more long term holding in my view. These days there is no shortage of good cryptos to buy.  I'm taking advantage of the market bottom to fill out my portfolio, now that I have what I consider a  right-sized position in XRP.  

The good thing about the XRP chart is that it has held the channel we're in for quite a while, in spite of the low volume manips. It could be way worse.

Patience.

 

Edited by dr_ed

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