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Charting the course of XRP


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Posted (edited)
5 hours ago, YngwieJ said:

No XRP will never be a million dollars per coin because if it is $1 million will be Zimbabwean n nature and next to useless. 

Not sure why this Quincy fella (who seems knowledgeable) is being treated as a cult like hero. He talks the talk but there have been others before him.

 

In Zimbabwe they needed wheel barrow loads of fiat to buy a loaf of bread. If XRP reached a thousand or a million it would be the opposite to "Zimbabwean in nature"  Quincy's valid point was that if XRP took over the derivatives market the value of XRP would rise to an unknowably high level.   His words were something along the lines of "a thousand, ten thousand or a million". some years ago Susan Ahearn of Ripple did a study where she calculated expected value of XRP if ODL replaced SWIFT.  Her expectations were that in those circumstances XRP would be valued in the multi hundreds.  The Derivatives market is many times bigger than FX.   I repeat the eventual price of XRP will be related to utility and is an unknowable.

Quincy is a cult hero?  Absolutely can see that happening.  He represents something important to XRP ecosystem; he is very young, intelligent, knowledgeable of blockchain tech, enthusiastic, open and comes from and ethnic minority community.  He carries a symbolic message about the purpose is XRP which is to break down barriers between the old world and future. He has got off to a cracking start, he came out of nowhere and I hope he succeeds

Edited by Julian_Williams
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On 7/5/2021 at 6:32 AM, Julian_Williams said:

I disagree.  I think there is plenty of institutional and retail money to come into crypto if the circumstances are correct.  As Quincy so succinctly put it the price of XRP will be determined by the value of the assets in the XRPecosystem, including debt. And the eventual price of XRP is a complete unknowable.  Even a million dollar valuation cannot be discounted (estimating future price is just speculation and really any figure chosen is as good as any other).

The problem is that at the moment the money coming into crypto is not being directed to crypto with utility.  Investors value Doge coin as having better prospects for adoption in the real world of business than XRP and XDC, and they believe in BTC being a Store of Value even though there is not enough energy on the World grid to maintain the BTC ecosystem of their proposed future.  There is nothing new about this state of affairs, it is no more surprising behaviour than that of the medieval Church that prosecuted Copernicus of telling them that the Earth went around the Sun, rather than the Churches  heliocentrist beliefs that the Sun went around the Earth. 

Reality will trump foolishness, but foolish men will forever go on being foolish.  At the moment being foolish in crypto makes good money, and investing in common sense makes a lot less. So what, the world was ever so.

It's weird, I don't get the logic. Your hero Quincy comes to the conclusion that Bitcoin is unsustainable by thinking linearly, but that same linear logic would also prove why XRP can never be a million dollars and still represent any real value.

What's wrong with Doge? It's brought more people into crypto than XRP has. Everything has its place, including meme coins. There are probably more people who think XRP is what's wrong with crypto than those who think it's great, should we get rid of XRP too?

Copernicus was never prosecuted by the Church. His book was only mildly controversial until decades after he wrote it.

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3 hours ago, Julian_Williams said:

In Zimbabwe they needed wheel barrow loads of fiat to buy a loaf of bread. If XRP reached a thousand or a million it would be the opposite to "Zimbabwean in nature"

I believe his argument was that XRP could only be a million dollars if US dollars became like Zimbabwe dollars. There's no real way that one XRP could be worth a million 2021 dollars.

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8 hours ago, YngwieJ said:

Not sure why this Quincy fella (who seems knowledgeable) is being treated as a cult like hero. He talks the talk but there have been others before him.

I agree with you. He's entertaining and has a unique perspective. I get why people want to listen to him. I like him in the, "oh, that's interesting sense," but I don't think he's some sage truthteller. I don't get why he's being thrown into the spotlight. It feels manufactured rather than organic.

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7 minutes ago, brianwalden said:

I agree with you. He's entertaining and has a unique perspective. I get why people want to listen to him. I like him in the, "oh, that's interesting sense," but I don't think he's some sage truthteller. I don't get why he's being thrown into the spotlight. It feels manufactured rather than organic.

Lost me when he started talking about governments confiscating XRP lol. But fun to listen to nonetheless. 

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Posted (edited)
1 hour ago, brianwalden said:

It's weird, I don't get the logic. Your hero Quincy comes to the conclusion that Bitcoin is unsustainable by thinking linearly, but that same linear logic would also prove why XRP can never be a million dollars and still represent any real value.

What's wrong with Doge? It's brought more people into crypto than XRP has. Everything has its place, including meme coins. There are probably more people who think XRP is what's wrong with crypto than those who think it's great, should we get rid of XRP too?

Copernicus was never prosecuted by the Church. His book was only mildly controversial until decades after he wrote it.

When Quincy posited a million dollar valuation he was obviously taking us into an extravagant fantasy land.  The point really is that if significant proportions of derivatives markets in things like commodities and land were traded through XRP on smart contract tech software like Corda settler then the assets under XRP jurisdiction might be worth many tens of trillions.  Then it is sort of possible to imagine XRP going up into super high valuations......maybe even to a million.  Personally I am satisfied if it gets to ten dollars in the next year or two, and 30 dollars in the next decade

 

Quote

I agree with you. He's entertaining and has a unique perspective. I get why people want to listen to him. I like him in the, "oh, that's interesting sense," but I don't think he's some sage truthteller. I don't get why he's being thrown into the spotlight. It feels manufactured rather than organic.

About Quincy being a "hero".  This is a word used by another poster, not my word for him.  I used it when responding.  I would choose the word phenomenon, icon or celeb to describe Quincy.  I think Quincy might be a significant figure around which the XRP meme develops.  His personality happens to fit the moment, and I think he is one of the catalysts that will stimulate your beloved Doge coin subscribers to migrate across to XRP and XDC.   I think his knowledge is fairly limited and like you said there are plenty more like him with much more experience.

But Quincy has the personality to move things on for XRP (I think).  I find him very interesting, newsworthy and worth following.

Edited by Julian_Williams
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Quincy is picking up steam because he tells people what they want to hear. BG123 and others have done this before. Hell even Bob Way came in and made people think really great about their investment for a while too.

He has substance for sure, maybe he will be correct in the end. People should never get their hopes up because of any influencer and that goes for Brad, David, or anyone else.

 

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19 minutes ago, Trentsteel said:

1 million per XRP :rofl: C’mon that’s just plain stupid. 

Surely it must have been his signal to the OG XRP holders that he's just doing his part to manufacture interest from new buyers. He seems too smart to believe some of the things he says. 

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14 minutes ago, xrp-nuke said:

Wen 589,589,589.589589589?

It's funny you asked that...  I just used my tax software app (Koinly) to pull down my GateHub history (via API) which apparently uses the XRPL for all my transactions of both tokens and fiat.

So I'm viewing the results with some shock, as it's citing some $787,000,000,000 "unrealized gains" in my history, due to a "deposit" of 325 million BTC (see pic).

ROTFL - and yeah, I shouldn't have received more than 18m, IKR !

So, like I guess I'll be keeping my 15 year old economy car for now, sigh... 

Screen Shot 2021-07-06 at 12.12.14 PM.png

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6 hours ago, Julian_Williams said:

When Quincy posited a million dollar valuation he was obviously taking us into an extravagant fantasy land.  The point really is that if significant proportions of derivatives markets in things like commodities and land were traded through XRP on smart contract tech software like Corda settler then the assets under XRP jurisdiction might be worth many tens of trillions.  Then it is sort of possible to imagine XRP going up into super high valuations......maybe even to a million.  Personally I am satisfied if it gets to ten dollars in the next year or two, and 30 dollars in the next decade

 

About Quincy being a "hero".  This is a word used by another poster, not my word for him.  I used it when responding.  I would choose the word phenomenon, icon or celeb to describe Quincy.  I think Quincy might be a significant figure around which the XRP meme develops.  His personality happens to fit the moment, and I think he is one of the catalysts that will stimulate your beloved Doge coin subscribers to migrate across to XRP and XDC.   I think his knowledge is fairly limited and like you said there are plenty more like him with much more experience.

But Quincy has the personality to move things on for XRP (I think).  I find him very interesting, newsworthy and worth following.

I listened to his chat with Hammertoe on Ripplex, hes full of fluff, it confirmed for me what I thought. He's full of crap. Big ideas with no idea how he is going to implement them. 

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14 hours ago, Neurotoxin said:

Actually, ODL is still in use, specially in Asia. It’s obviously been hindered in the USA, but that’s not the only market in the world.

But the USA are a huge market. I am starting to think XRP might lose this battle. If/when it becomes established that cryptos will be used by widely financial institutions for remittance, derivatives, CBDC and whatnot, will they go for Ripple/XRP? In 2017 I would have answered yes. Nowadays I am no longer so sure. There are other assets out there that do the job with communities of developers, liquidity and institutional uptake (and I am not going to name them otherwise people will say I am a shill). With none of the baggage, drama and downright big issues that Ripple has. I think Ripple had a window of opportunity to literally take over the world and grab the lion's share. The longer adoption goes on, the more that window closes and the less market share they will grab. The ODL rails that have been destroyed because of the lawsuit will take time to be rebuilt, even if one assumes Ripple will get out of the lawsuit relatively unscathed.

So... yeah. One can find reasons to be optimistic, but this SEC mess is still terrible news.

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9 minutes ago, Troote said:

But the USA are a huge market. I am starting to think XRP might lose this battle. If/when it becomes established that cryptos will be used by widely financial institutions for remittance, derivatives, CBDC and whatnot, will they go for Ripple/XRP? In 2017 I would have answered yes. Nowadays I am no longer so sure. There are other assets out there that do the job with communities of developers, liquidity and institutional uptake (and I am not going to name them otherwise people will say I am a shill). With none of the baggage, drama and downright big issues that Ripple has. I think Ripple had a window of opportunity to literally take over the world and grab the lion's share. The longer adoption goes on, the more that window closes and the less market share they will grab. The ODL rails that have been destroyed because of the lawsuit will take time to be rebuilt, even if one assumes Ripple will get out of the lawsuit relatively unscathed.

So... yeah. One can find reasons to be optimistic, but this SEC mess is still terrible news.

Sad but it feels like this is the case, atleast for now. 

I can't believe the SEC is getting away with suppressing the XRP market. It's clear the SEC and some of the officials were in the wrong, yet here we are.

How can they support Ether after having a public and video recorded giveaway of ether tokens by the Ethereum Foundation, while receiving millions on the back end like Hinman? 

They activately suppress the XRP market because exchanges in the US are afraid to list XRP, developers are unsure whether to develop new platforms onto the ecosystem without clarity and business don't want to get involved either. 

I really hope the judges end this soon. The fact that J Clayton left this mess and left his post earlier than expected just shows how one-sided the SECs position is.

They don't care about retail investors. If they did, this would have been resolved within the eight years the SEC had to inform themselves and provide a framework to work within. 

From a legal perspective, they've already been ridiculed and proved incompetent and on the world stage, regardless of how the judges decide at this point.

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