Jump to content

Charting the course of XRP


Guest
 Share

Recommended Posts

45 minutes ago, brianwalden said:

It's not magic. On one side you've got people putting up collateral and paying to borrow against it. That gives them access to stablecoins without having to sell their assets that they hope will appreciate over time. On the other side, you've got depositors depositing funds for the borrowers to borrow. The fees that the borrowers pay are used to pay out the interest that the depositors earn.

To me, that's a lot more trustworthy than banks who have totally given up on reserves and just make up magic money out of thin air. The only advantage banks have is that if they screw up, the government will make up more magic money to pay you back. With DeFi, you're working without a safety net in a caveat emptor environment.

Frankly I think @Troote is closer to being right here. Most of the high yield products are

- Backed by assets that are re-hypothecated several times over (which is what caused 2008 financial crash, except with houses)

OR

- From those who are taking the risk of putting up fiat and hoping the crypto they hold will go higher (which will fail in a bear market)

OR

- Funded by those who want to launder money through voluntary liquidations. Community is left holding the crypto and and launderers get away with Fiat. 

There is a valid case where getting rid of banks and other middlemen does free up more yield but that’s may be low to mid single digits. Not double digits.

Link to comment
Share on other sites

1 hour ago, brianwalden said:

It's not magic. On one side you've got people putting up collateral and paying to borrow against it. That gives them access to stablecoins without having to sell their assets that they hope will appreciate over time. On the other side, you've got depositors depositing funds for the borrowers to borrow. The fees that the borrowers pay are used to pay out the interest that the depositors earn.

To me, that's a lot more trustworthy than banks who have totally given up on reserves and just make up magic money out of thin air. The only advantage banks have is that if they screw up, the government will make up more magic money to pay you back. With DeFi, you're working without a safety net in a caveat emptor environment.

You probably describe the only case I can trust, but to be honest that's not really DeFi. I can lend USD on an exchange such as FTX without requiring any crypto of any sort. 

Now read the gobbledygook here: https://docs.convexfinance.com/convexfinance and tell me in 50 words or less where the money comes from so as to sustain 50%+ APY?

Hint: don't waste your time, I have massive trust issues when it comes to crypto anyway.

Link to comment
Share on other sites

2 hours ago, brianwalden said:

It's not magic. On one side you've got people putting up collateral and paying to borrow against it. That gives them access to stablecoins without having to sell their assets that they hope will appreciate over time. On the other side, you've got depositors depositing funds for the borrowers to borrow. The fees that the borrowers pay are used to pay out the interest that the depositors earn.

To me, that's a lot more trustworthy than banks who have totally given up on reserves and just make up magic money out of thin air. The only advantage banks have is that if they screw up, the government will make up more magic money to pay you back. With DeFi, you're working without a safety net in a caveat emptor environment.

The most conservative and promising DeFi product I’ve seen is Probity/Trustline on Songbird/Flare.

If you are in the US, unfortunately you will need to be an accredited investor under current regulations. Accreditation not needed if you are outside the US. KYC is mandatory to participate in Probity.

And they are sensitive to Usury laws in the US (https://www.upcounsel.com/lectl-state-interest-rates-and-usury-limits)

When there is high demand for loans, yield goes up to attract depositors. When there are too many depositors, yield goes down to attract those who want to take loans. Simple. Backed by Flare/Songbird. Adding XRPL post lawsuit clarity. Additions through governance.

No fancy tokenomics. Strictly adherent to regulations. Will provide an inflation resistant stablecoin (USD2020).

Stablecoins can be trustlessly moved to XRPL and will likely support direct withdrawal through supported banks. 

It’s the DeFi product I’m looking forward to the most. 
 

FYI @Troote, in case you are interested.

Link to comment
Share on other sites

4 hours ago, Troote said:

You probably describe the only case I can trust, but to be honest that's not really DeFi. I can lend USD on an exchange such as FTX without requiring any crypto of any sort. 

Now read the gobbledygook here: https://docs.convexfinance.com/convexfinance and tell me in 50 words or less where the money comes from so as to sustain 50%+ APY?

Hint: don't waste your time, I have massive trust issues when it comes to crypto anyway.

I just told you where the money for 19.5% APY on Anchor comes from. It's certainly DeFi.

I'm not an expert on Convex because I'm allergic to Ethereum's fees. But here's my best go. Convex is able to pay those staking fees because it owns a ton of Curve that's locked up for 4 years giving it maximum staking returns and voting rights. This allows it take bribes from other protocols who need liquidity for their tokens. Also, it's paying out those staking rewards in its own token that it made up out of thin air.

You bring up another good point about composability. Convex, for example, is able to build a whole ecosystem on top of Curve. This ability to combine different financial products in new ways isn't available to ordinary people in TradFi.

Link to comment
Share on other sites

It feels like a relief to see XRP back in the .60s and almost unbelievable we revisited the .50s again.  Two lines of thought -

Blockchain backer:  we saw a double bottom and alt season will begin sometime soon (maybe still six weeks away)

Coinskid; The BTC correction is not in yet and we will see some dramatic new lows which could see BTC go down to 28k and bounce - followed by a dramatic bounce and continuation of the bull run.  This would see XRP down to .27 again.

both are long term bullish and saying not need to panic. 

I suppose a third point of view is that BTC will go on slipping into a crypto winter and we will not see much alt season at all.

I am mostly committed and sitting still.  What will be will be.  Hopefully SEC will settel with Ripple and that will impact positively on XRP price regardless of what BTC is doing.

Edited by Julian_Williams
Link to comment
Share on other sites

Barring a bad outcome to the case, (which is possible but doesn't seem to be the path this is going) I also see XRP as a good horse to bet on. It has a good chance to perform well in any retracement and potentially even be combined with a settlement to really launch it high. Or... there could be no retracement and it could flounder until settlement/case ends. In this case, eventual settlement or a win in the case could still cause a solid run for it. 

 

For me, I've got price targets I expect and I will sell on them even if the case is still hanging overhead. If it settles/ends and does not reach the price targets, there is a strong likelihood I will unload a bunch on that news either way. 

I like my odds. 

Link to comment
Share on other sites

5 minutes ago, Pterolycus said:

Barring a bad outcome to the case, (which is possible but doesn't seem to be the path this is going) I also see XRP as a good horse to bet on. It has a good chance to perform well in any retracement and potentially even be combined with a settlement to really launch it high. Or... there could be no retracement and it could flounder until settlement/case ends. In this case, eventual settlement or a win in the case could still cause a solid run for it. 

 

For me, I've got price targets I expect and I will sell on them even if the case is still hanging overhead. If it settles/ends and does not reach the price targets, there is a strong likelihood I will unload a bunch on that news either way. 

I like my odds. 

I have price targets for withdrawing a useful sum, the rest I will either hold long or play it by gut feelings.  I really expected to reach a new ATH by now and have been disappointed not to have more money out by now.

Like you I am very confident about XRP long term prospects.  (In fact in my mind I have always classified my XRP investment as low risk)

Link to comment
Share on other sites

37 minutes ago, Julian_Williams said:

It feels like a relief to see XRP back in the .60s and almost unbelievable we revisited the .50s again.  Two lines of thought -

Blockchain backer:  we saw a double bottom and alt season will begin sometime soon (maybe still six weeks away)

Coinskid; The BTC correction is not in yet and we will see some dramatic new lows which could see BTC go down to 28k and bounce - followed by a dramatic bounce and continuation of the bull run.  This would see XRP down to .27 again.

both are long term bullish and saying not need to panic. 

I suppose a third point of view is that BTC will go on slipping into a crypto winter and we will not see much alt season at all.

I am mostly committed and sitting still.  What will be will be.  Hopefully SEC will settel with Ripple and that will impact positively on XRP price regardless of what BTC is doing.

Keen to share my thoughts on this. I am brand new as a member but have been following posts on here for a while now as I am a true XRP believer :)

I agree with Coinskid's point of view on this, I still think we are yet to see a bigger drop from Bitcoin first (thus dragging XRP with it) before an increase in price. I think the last drop to the 30-40k area was too slow and not sudden enough for a bounce. I have a small pot ready to one side for pending XRP orders down to 0.30 just in case it drops and improves my DCA.

 

Been in XRP since 2018 so happy to wait however long it takes, could see September (based on J Hogan's timeline update) for a settlement or drastic change in the case. 

 

Excited to see what happens in the coming weeks!

Link to comment
Share on other sites

Just now, Julian_Williams said:

I have price targets for withdrawing a useful sum, the rest I will either hold long or play it by gut feelings.  I really expected to reach a new ATH by now and have been disappointed not to have more money out by now.

Like you I am very confident about XRP long term prospects.  (In fact in my mind I have always classified my XRP investment as low risk)

Absolutely. All of my price targets are at/over ATH. 

Link to comment
Share on other sites

2 minutes ago, themeatcleaver3 said:

Keen to share my thoughts on this. I am brand new as a member but have been following posts on here for a while now as I am a true XRP believer :)

I agree with Coinskid's point of view on this, I still think we are yet to see a bigger drop from Bitcoin first (thus dragging XRP with it) before an increase in price. I think the last drop to the 30-40k area was too slow and not sudden enough for a bounce. I have a small pot ready to one side for pending XRP orders down to 0.30 just in case it drops and improves my DCA.

 

Been in XRP since 2018 so happy to wait however long it takes, could see September (based on J Hogan's timeline update) for a settlement or drastic change in the case. 

 

Excited to see what happens in the coming weeks!

Welcome :) I like your approach.  I cannot choose between Coinskid and BCB, both are extremely sensible in their analysis but only one is right.

Link to comment
Share on other sites

25 minutes ago, Julian_Williams said:

Welcome :) I like your approach.  I cannot choose between Coinskid and BCB, both are extremely sensible in their analysis but only one is right.

Thanks :)

Yeah I agree both are sensible and have good analysis/reasoning and in reality we will never know when. I feel with XRP it is a certainty it will rise in price but not certain or sure of the timing of it, is it 6 months? 1 year? 3 years? I agree with you I see XRP as low risk long term but I am not sure when the price rise would actually happen

Link to comment
Share on other sites

22 minutes ago, Julian_Williams said:

I really expected to reach a new ATH by now

I remember on the run up to 2 dollar last April a lot of chartists saying XRP needs to retest its breakout zone in the 0,50-0,70 range before going to ATH -- well we retested this area now for the second time. This has to mean something, right -- Lets see...

33 minutes ago, themeatcleaver3 said:

Coinskid; The BTC correction is not in yet and we will see some dramatic new lows which could see BTC go down to 28k and bounce - followed by a dramatic bounce and continuation of the bull run.  This would see XRP down to .27 again.

After falling down the 2017/2018 top xrp didnt manage to break through/stay above the level (which got retested now twice) for more than 3 years (mainly hovering in the 0,30 cents range) -- ironically, few months after the SEC bomb fell on us XRP broke out of this range (and stayed above for almost a year now) and launched to 2 dollar within weeks -- XRP falling back down to 0,27 would be very bad technically IMO (at least short- midterm)

As for BTC I believe BCBacker is right and the top is already in. Generally I think BCBacker is very reasonable in his assertions and he called the top of BTC a while ago. I think he`s right on Bitcoin and we will see a relief rally now after the recent drop and I hope he is right on the altcoins and we will see altseason soon.

BCBacker has a way of explaining how price movements effects our minds and why most retail investors buy into green candles and hype instead low prices.

 

Link to comment
Share on other sites

On 1/24/2022 at 12:17 PM, xrp-nuke said:

Anyhow, mid week expect some relief to 0.65, and BTC to 38k. 🤣

Ok we got 38k and we are at 0.63

From here, fomo on FOMC and shoot 41-43k BTC and 0.69-0.72 XRP. Than need to observe but more likely to retest, 38k and 0.65 or so.

Or

Get back to 33k and 0.58

 

Yours annoying

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.