Charting the course of XRP

[Troote]

2 hours ago, DD_XRP said:

My USD are still sitting in an exchange and I would like to take a decision in the next few weeks : get the fiat back to my bank account, or buy back in..

So at this moment I have 0 cryptomoneyz.

In a nutshell, where are we now?
What would the guys who follow the scene on a daily base do?

What a grand idea! As it happens, that's exactly where I was at. Until FTX decided to stop withdrawals. 100% write-off.

Either you buy crypto and transfer them to your own cold wallet, or you store your money in an FDIC-insured bank. Do not leave anything on an exchange, however trustworthy you think it might be. Make that decision and take action today.

Edited November 20, 2022 by Troote

[DD_XRP]

2 hours ago, Troote said:

What a grand idea! As it happens, that's exactly where I was at. Until FTX decided to stop withdrawals. 100% write-off.

Either you buy crypto and transfer them to your own cold wallet, or you store your money in an FDIC-insured bank. Do not leave anything on an exchange, however trustworthy you think it might be. Make that decision and take action today.

Decision taken, action taken

All-in again at .373, all zerps in cold storage.

Let's do this!

[DannyRipple]

1 hour ago, DD_XRP said:

Decision taken, action taken

All-in again at .373, all zerps in cold storage.

Let's do this!

Let’s Goooooooooooooo!!!

[xrp-nuke]

3 hours ago, DD_XRP said:

Decision taken, action taken

All-in again at .373, all zerps in cold storage.

Let's do this!

Not smart imho.

[DD_XRP]

27 minutes ago, xrp-nuke said:

Not smart imho.

Wel. The fiat was in the exchange for almost a year. So i can miss it. And i have time. 
time will tell 😉

[Zerosh]

How many more damage / crash do we still need to suffer? Right now it's about FTX hacker dumping ETH which is also affecting altcoin market, as we know market move together most of the time. 

We're not getting a break at this. 

[Guest]

Just now, Zerosh said:

How many more damage / crash do we still need to suffer? Right now it's about FTX hacker dumping ETH which is also affecting altcoin market, as we know market move together most of the time. 

We're not getting a break at this. 

We are closer to the beginning than the end.

Lots of fraud still left to be flushed out. 

[QuestionMark]

Well, it definitely looks like the beginning of the end. There seems to be absolutely nothing genuine in crypto anymore, if there ever was, and whatever feeble retail interest there has been is gone for good now.  If this goes on for much longer there will be nothing left for the governments to regulate. Let's see how much longer can those "genuine" crypto projects last now that the well of get rich quick greedy gullible stupidity of retail speculators has run dry. 

[JJJ2]

54 minutes ago, QuestionMark said:

Well, it definitely looks like the beginning of the end. There seems to be absolutely nothing genuine in crypto anymore, if there ever was, and whatever feeble retail interest there has been is gone for good now.  If this goes on for much longer there will be nothing left for the governments to regulate. Let's see how much longer can those "genuine" crypto projects last now that the well of get rich quick greedy gullible stupidity of retail speculators has run dry. 

There could not be anything genuine: crypto is not regulated, coins are not currencies, few hold most of the coins and therefore can prompt any kind of speculation. Crypto is something that built on belief of poor small investors hoping to make a lot of money by investing just the small capital they have.

That said, it is not necessary the end, but who knows? maybe one has to wait 10-20 years before these "coins" will reach significative levels of use and gain money. As we see by now real use does not seem to represent any meaning for their value. By now all is moving with BTC and BTC makes the good and the bad weather. There are still too many of these coins not yet released and slowly coming to the market and dumping the price of the rest. So, I mean I have a lot of money invested in crypto, but when I did it I decided to forget this money and just play the roulette. If one thinks he can build a financial position by investing in crypto then he should better buy a huge agricultural ground and become farmer...Maybe he will win, and maybe not. It is simply a roulette, just don't make it a russian roulette...

[QuestionMark]

3 minutes ago, JJJ2 said:

There could not be anything genuine: crypto is not regulated, coins are not currencies, few hold most of the coins and therefore can prompt any kind of speculation. Crypto is something that built on belief of poor small investors hoping to make a lot of money by investing just the small capital they have.

That said, it is not necessary the end, but who knows? maybe one has to wait 10-20 years before these "coins" will reach significative levels of use and gain money. As we see by now real use does not seem to represent any meaning for their value. By now all is moving with BTC and BTC makes the good and the bad weather. There are still too many of these coins not yet released and slowly coming to the market and dumping the price of the rest. So, I mean I have a lot of money invested in crypto, but when I did it I decided to forget this money and just play the roulette. If one thinks he can build a financial position by investing in crypto then he should better buy a huge agricultural ground and become farmer...Maybe he will win, and maybe not. It is simply a roulette, just don't make it a russian roulette...

So much for the future of finance narrative

[JJJ2]

But what this time I do not like, is that BTC is going lower than its old ATH (at around 20000). In the past waves BTC has always reached new ATH and then fell back to the old one. Now it is going really lower. I have read predictions speaking of 7K to 11K, anyway this is not a good sign to me, : the ratio of the new ATH to the old one is diminishing at every cycle and the retracement is happening to relatively (to the last ATH) smaller prices. It looks like the high and low of the cycle are stabilizing and the coin will not increase its value much above the last ATH. As consequence, also ALTs will not appreciate much in the next cycle. Le'ts see... 

[Guest]

13 minutes ago, QuestionMark said:

So much for the future of finance narrative

It will be a big part of the future. The cycle of technology is always the same. Has been for at least three centuries. 

Irruption -> Frenzy -> Synergy -> Maturity

Bubbles (Frenzy) are natural when there are disruptive technologies (Irruption). Bubbles must crash for the ecosystem to evolve. Crashes lead to regulation. Regulation leads to more efficient deployment of capital. 

 

[QuestionMark]

6 minutes ago, Ripley said:

It will be a big part of the future.

No doubt. However I do sincerely doubt any of the currently existing shitcoins, BTC included, will have anything to do with it. The big boys will do their own thing and retail will be hung out to dry, and that will be that.

[Guest]

6 minutes ago, QuestionMark said:

No doubt. However I do sincerely doubt any of the currently existing shitcoins, BTC included, will have anything to do with it. The big boys will do their own thing and retail will be hung out to dry, and that will be that.

I do expect that XRP will continue to chug on, but I agree about most tokens including BTC. Who knows, it might include XRP too. We will find out in a couple of years.

Retail access to crypto will remain. I’m not worried about that. 

[QuestionMark]

4 minutes ago, Ripley said:

I do expect that XRP will continue to chug on, but I agree about most tokens including BTC. Who knows, it might include XRP too. We will find out in a couple of years.

Retail access to crypto will remain. I’m not worried about that. 

I am 100% convinced the impending regulation will NOT be designed to give retail an edge. Quite the opposite. I also imagine we'll get something akin to the "accredited investor" bullshit going on elsewhere in finance. Retail may not be completely locked out but it will be completely neutered. 

As for XRP, there is no way in hell banks and FIs will be buying XRP off the hands of retail investors, neither will they be ever exposed to retail and/or whales and manipulators swinging the price in whichever way suits them. IF, and that's an if as big as Texas, they will EVER use XRP in any capacity retail will be locked out of it.