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Are whales real or is it just an excuse we tell ourselve to feel better about not mooning?s

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1 hour ago, 10millionplus said:

And the loser of today is XRP again. Anyone feel happy to be invested in a losers coin? 

I see a trend with your latest comments, don’t be too hard on yourself, 👍

 

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2 hours ago, 10millionplus said:

And the loser of today is XRP again. Anyone feel happy to be invested in a losers coin? 

Log off, forget about your XRP investment and come back in 2 years. You might have doubled your money! 

....and put a few grand into BTC and collect big in a few months. 

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1 hour ago, Viggo said:

 

....and put a few grand into BTC and collect big in a few months. 

Feels dirty but that is what I’ve been doing, I’m here to make money at the end of the day🤞

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On 6/18/2019 at 5:59 PM, itcdominic said:

I will admit I don't fully understand why we don't experience positive movement with excellent new yet watch crapcoins start at .0002 and then settle up and around $6 on no news at all.

However, I not selling my bags and continue to buy when I can. I have no desire to unload before 5-10 years.  I also got in early 2017.

Double this! We are exactly similar here, I could’ve written this today. Feeling ambivalent about the situation - disappointed that we’re almost being ignored by the majority and Bitcoin is in the spotlights. But also extremely delighted and thrilled that we can keep accumulating XRP at a steep discount while all the good news is ALREADY rushing in. It’s an insane opportunity, but one can easily be blinded because it feels really awkward at the same time. 

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On 6/20/2019 at 8:42 AM, Tinyaccount said:

No one on the outside (at least to my knowledge) knows much about them.  The one thing we do know is that Ripple have said they will incentivise them to make market.  

So I read up about FX. Market makers offer selling and buying prices, bid and offer. That means they would end up holding positions in a fiat currencies as well as XRP. So they end up carrying all the risk of a dump in price of XRP, so saying the volatility doesn’t matter because people only have risk for a few seconds misses half then picture. The costs and risks of the volatility just get shifted to market makers who need bank sized capital and huge b@lls.

Or am I missing something? Please correct me if I am because this is complex stuff and I am not an expert.

 

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41 minutes ago, ZzZerper said:

Or am I missing something? Please correct me if I am because this is complex stuff and I am not an expert.

 

I’m not in a position to correct or confirm for you....  I don’t know much at all about Market Making.  The only snippet I can bring to the table is that Ripple have repeatedly said they would incentivise market making.

In fact if I read it correctly,  they are essentially guaranteeing ‘no volatility loss’ and ‘up to double bonus XRP’ to early Market Makers.  I believe they have been in the markets for at least a few years now but I haven’t heard that Ripple are stepping away for that support as yet.

So essentially if I understand it correctly,  they have piles of fiat and XRP on the exchange(s) they operate on and populate the order book on both sides with bids and offers (and possibly dark pools) so that if someone wants to move value through that nexus there is a second party no matter the direction.

The spreads (which is the profit to MMs) get tighter as competition increases and the volumes rise...  this makes the whole thing have less friction and encourages even more activity.  So the MM are always looking to scale upwards in volume.  That’s good for us retail folk too.

One thing to notice about all this is that if a MM needs more XRP and are getting it from Ripple they will be moved as an OTC sale from XRP II to the exchange.  That movement is often large and noticed by whale alerts which then sets off a new round of panicked people shouting about Ripple dumping and a price fall incoming.  In at least some of these instances it’s merely a MM doing their thing which actually benefits us all long term.  Sigh.

 

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Thanks! That sounds like a strong argument for keeping the price stable otherwise you get this situation (again correct me if math wrong)

XRP falls 10% in a day (which is can). MM with bit net pile of XRP lose a large pile in fiat terms. Ripple gives them some more XRP to fill the hole in their finances.

They sell XRP to make up dollar loss. Price gets more downward pressure. Unless Ripple makes up loss in dollars. i wander if DS will answer on Twitter or Quorum. He is great at explaining complex topics like this.

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But that isn’t sensible....   if the price drops 10% why do they need to sell to make it up?  

They simply keep making book and making a profit or taking a loss in the spread,  and if they need more xrp they buy it from Ripple or another MM or an Exchange (which are themselves MMs I suspect).  If they need more fiat they presumably borrow it.

So no, I don’t see that happening as you describe.

If Ripple are making up a loss they would simply do it in XRP...  they would be crazy to do it in dollars when they have a war chest of XRP.  And I definitely don’t think it’s an argument for keeping the price stable...  in fact they are highly motivated to do all they can to avoid drops and to encourage climbs...  a long term uptrend is what benefits them the most.

But I could be wrong... I’m just an amateur and only know what I read from others with more experience.

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This is definitely one for the Schwartz.

you cannot make up for a loss from a 10% or even a 5% swing from the spreads otherwise the spreads would so large that using XRP as a bridging currency would not be economic. According to wikipedia, the spreads in FX market that market makers (not Payments company or retail FX) are so narrow they measure them in something called Mips , each mip is 1/10,000th of a percentage point.

when the Swiss broke the link to the EUR is completely wiped out on major broker.

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On 6/30/2019 at 4:11 AM, 10millionplus said:

And the loser of today is XRP again. Anyone feel happy to be invested in a losers coin? 

Yes.  Just Join the Zerpening Club. The more it tanks, the more we buy the dip.

On 6/30/2019 at 8:14 AM, Trentsteel said:

Feels dirty but that is what I’ve been doing, I’m here to make money at the end of the day🤞

You need to be in it for the technology

 

 

 

 

Edited by Nouk

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1 hour ago, ZzZerper said:

you cannot make up for a loss from a 10% or even a 5% swing from the spreads otherwise the spreads would so large that using XRP as a bridging currency would not be economic.

I think you are looking at it wrong.  You are equating their initial buy price with their operating prices.  So long as over the long term it’s up then they are covered in the initial buy situation.  If they have losses then I believe Ripple will cover it at the moment. (A damn good business to be in then eh! )

But they make their money on the spread.  You sell them a Zerp at .31 and they sell it near immediately after that at .3105.  That spread was their profit.  If the thing trends up or down over the day they are buying and selling either side of the spread all though that time so they don’t have to ‘make up’ that 10% volatility.

But I guess I could be wrong because I don’t really know much about it all...  that’s just my amateur understanding of it.

 

One thing to consider is that if you were actually correct then we wouldn’t have any market makers....

 

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On 6/18/2019 at 11:48 AM, fero said:

Are whales real or is it just an excuse we tell ourselves to feel better about not mooning?

I think 🐳 are real. I think a lot of them are in China and possibly a little bit of every where. 

As far as needing to feel better about ourselves about not mooning...I think that’s only a matter of massive inertia via a huge network and market. Whale activity can only be effective so long. Eventually even whales thrashing about won’t even be able to make much of a ripple.

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