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Milly238

lol - bull run soon.

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I don't think it's that easy. Before the last bull run there was a genuine interest from the general public and the mainstream, and it was not because of FUD. It was simply because of the price moving up

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13 minutes ago, captainjack said:

and it was not because of FUD. It was simply because of the price moving up

i think OP was talking about the sentiment before the price moved up

1 hour ago, Milly238 said:

the exact thing happened before the last bullrun.  People thought it was going to 0, and to jump ship.

 

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Posted (edited)
2 hours ago, Milly238 said:

I have to post this because it's almost ridiculous.  We are almost at full FUD force, the exact thing happened before the last bullrun.  People thought it was going to 0, and to jump ship.  well, this gives me hope and i just smile.  have some patients bros.

I keep hearing the same thing but people don't seem to understand the context around which things happened.  Korea started doing 50% of XRP trading volume and the youth were FOMOing into XRP.  I have to post this because it is absolutely ridiculous that people keep posting like we're on the launchpad of of another bullrun when there is no indication of such an scenario taking place.  For any bullrun to take place, you need lots of new money coming in.  Where do you see new money flowing in from?  Check Korean exchanges, Upbit, Bithumb,Coinone where XRP was pretty much #1 through Dec - January 2017/18, it's #4 or #7 now.  

 

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The Asians have discovered a new cryptocurrency you've probably never heard of.

Ripple (XRP), a top five cryptocurrency with a whopping $46.2 billion market cap, is up 57.2% on Thursday, beating every major crypto coin out there and surpassing $1 for the first time, based on Coin Market Cap data.

"Asians are going mad for Ripple," says Alexey Ivanov, CEO and co-founder of Polynom Crypto Capital, a Moscow-based cryptocurrency and blockchain investment fund manager.

https://www.forbes.com/sites/kenrapoza/2017/12/21/asians-going-mad-for-ripple-coin/#1bccbca36422

 

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The South Korean cryptocurrency market accounts for a relatively small percentage of global Bitcoin trades, but has nonetheless played a crucial role in bringing RIpple’s market capitalization from $40 billion to $88 billion. Ripple was one of the best-performing crypto assets of 2017, boasting a 360x increase in value. Exactly one year ago, on January 1, 2017, a single Ripple sold just six-tenths of a cent. Today, a single token is worth $2.29.

https://cointelegraph.com/news/south-korea-more-than-doubled-ripples-price-in-single-week

 

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Edited by fatlever

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19 minutes ago, zerocool said:

Traditional institutions starting crypto trading desks / buying exchanges

  • E-Trade is planning on offering Bitcoin and Ethereum soon
  • Ameritrade is offering Bitcoin soon
  • Fidelity is going to be offering Bitcoin in October

Ameritrade I think is adding Bitcoin then Ethereum and Fidelity is adding Bitcoin and then Litecoin until the Ethereum POS upgrade.  Traditional institutions are wary of offering something like XRP so I don't see any big inflows into XRP before it hits Bitcoin which is only being rolled out slowly.  

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17 minutes ago, fatlever said:

I have to post this because it is absolutely ridiculous that people keep posting like we're on the launchpad of of another bullrun when there is no indication of such an scenario taking place.

was there one before the last bullrun? the general public interest picked up when prices already started to increase - led to bigger up moves what caused more FOMO

28 minutes ago, fatlever said:

For any bullrun to take place, you need lots of new money coming in.

it wouldnt make sense to invest into the cryptomarket long term when you dont believe new money coming in

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5 minutes ago, fatlever said:
  • E-Trade is planning on offering Bitcoin and Ethereum soon
  • Ameritrade is offering Bitcoin soon
  • Fidelity is going to be offering Bitcoin in October

oh hey, those are big doors soon opened for new money coming into the market -- not that bad for the beginning

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Posted (edited)
43 minutes ago, fatlever said:

I keep hearing the same thing but people don't seem to understand the context around which things happened.  Korea started doing 50% of XRP trading volume and the youth were FOMOing into XRP.  I have to post this because it is absolutely ridiculous that people keep posting like we're on the launchpad of of another bullrun when there is no indication of such an scenario taking place.  For any bullrun to take place, you need lots of new money coming in.  Where do you see new money flowing in from?  Check Korean exchanges, Upbit, Bithumb,Coinone where XRP was pretty much #1 through Dec - January 2017/18, it's #4 or #7 now.  

Boy, weren't those youth taken for a ride and disillusioned!? This answers why XRP is where it is – in a position of a cowboy nicknamed the Invincible Joe – not because he was indeed invincible, but because not a single person, not even eager-women-earning-in-the-streets, had any interest in him. Entirely Ripple's strategy.

As to new money – nearest new money may be from oil country elites again, but, contrary to autumn 2017, there is no indication they are at all considering XRP to park their funds.

Edited by rom
grammar

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12 minutes ago, rom said:

Boy, weren't those youth taken for a ride and disillusioned!?

 

I lurked a lot in Korean exchange chat room is 2017/18 running Google translate, I forgot what they call XRP but they almost exclusively talked about XRP or whatever they called Ripple.  I kept reading in mid-2017 the prototypical Mrs. Kim was investing in Bitcoin but the youth were into XRP because it was penny crypto.

Quote

Cryptocurrency trading in South Korea is a lucrative venture. An estimated 11% of people aged 15 to 29 are unemployed in the country, and the lump-sum deposit for an apartment skyrocketed by 73% from 2007 to 2016, according to government officials.

 

When I visited their chatrooms, they weren't really investing but sounded like degenerate gamblers.  And this was the result:

 

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"Just lost 45% and shattered the monitor," one person said.

5a5f8fa4f42149ab008b55d9-750-416.jpg

 

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This person said they hit a door with a chair. "Should I just commit suicide?" they said.

5a5fcb8428eecc110f8b558d-750-750.png

 

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This person said he felt bad and went to wash his face only to find himself breaking his faucet.

5a5fd2fcf4214929008b575f-960-714.jpg

 

https://www.businessinsider.com/cryptocurrency-traders-in-korea-react-to-bitcoin-bloodbath-2018-1#dont-bother-me-said-one-trader-who-lost-about-75000-i-will-kill-you-all-10

 

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Posted (edited)

Plenty of people get burned but the % that are even aware or put money into crypto is tiny. Saying that because a bunch of Koreans got burned means that no other people from Korea will have a go next time is a bit short sighted. Never mind the rest of the world who will buy in. People are predictable and greedy, if there is a chance they will do it. Maybe the signs aren’t there yet, but it will happen I’m 99% sure

Edited by LiquidGoat

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