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Molten

Charting the course of XRP

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1 hour ago, JASCoder said:

I find it fascinating SBI  appears to share your sentiment.

Ripple stakeholder Japanese bank consortium SBI is opening up a giant BTC mining farm in Texas. They've a goal to manage 30% of the network’s hash rate, their stated goal to bring more stability and institutional confidence into the Crypto space overall.

Crypto Eri covered this news in her video yesterday.

The crypto space’s reliance on BTC kind of reminds me of how the early Internet was hugely dependent upon the unix servers made by Sun Microsystems (now defunct).

My understanding is that Kitao is scared of the Chinese 51% control over BTC.  It is preventative of a huge scandal in cryptospace that would destroy all his plans.

It is pretty impressive that this guy can be involved with a project to take 30% of BTC to America, and it is only a sideshow.  He is on the board of Ripple and Ripple/XRP seems to be his biggest passion in business. 

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2 hours ago, Tinyaccount said:

Thanks for that detailed reply.  I too didn’t agree with everything he said

If I didn't appreciate your response it would make my post hypocritical :) so thanks

re PE you are right that it is used to value companies. But in that case it is based on one year of earnings and it is reasonable to factor future years. It also considers projects in progress that will increase revenue. I would also argue some PE multipliers do take value and then add a speculative element, sometimes they go crazy.

Re the 5 trillion I concede that when I re read it, he was stating the size of the pie. 

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4 hours ago, invest2lose said:

Thats why im in both. But i believe if btc fails, no other coin will survive. Not even xrp.

Even Brad Garlinghouse is long on bitcoin.

There are things I like & dislike with both XRP and Bitcoin. I don’t mind people shilling or dilling about a digital asset as long as they can rationally look at it from both ends of the spectrum. They do not compete with each other’s use cases, but rather just with people’s money which fundamentally wont let a tokenized asset sustain value for long. 
 

There are several other cryptos competing for my fiat, not counting other traditional investments.

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On 1/9/2020 at 5:32 PM, Julian_Williams said:

My understanding is that Kitao is scared of the Chinese 51% control over BTC.  It is preventative of a huge scandal in cryptospace that would destroy all his plans.

It is pretty impressive that this guy can be involved with a project to take 30% of BTC to America, and it is only a sideshow.  He is on the board of Ripple and Ripple/XRP seems to be his biggest passion in business. 

You could argue that this is extremely bullish for Bitcoin. He wouldn’t be investing that kind of cash in Bitcoin mining if he thought it was going to zero any time soon. 

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On 1/9/2020 at 7:57 PM, Molten said:

XRPUSD forming a pretty convincing cup and handle formation, currently finishing off the handle in a falling wedge.  If this pattern is valid, we should see some upward movement in the next day or so.

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So far, so good.  The wedge has broken upward as expected but still looking for a much larger move than this.  If the cup and handle pattern is correct, we should eventually see a move up to $0.24-0.25 in the next week or so.wPUPbHCS

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On 1/9/2020 at 8:01 PM, Molten said:

BTC is testing an important newfound support around $7800 and is currently chopping around in the resistance zone depicted in red.  Would expect that it continues to chop here between $7800-$8300 for a while before making a definitive move.

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BTC is chopping in the red zone as expected.  Probably will bounce around here for a while.

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VET is about to run into the upper resistance zone if it's falling wedge.  My guess is that its not ready to break out yet and will drop, which would be an excellent entry point for those looking to get in or add more to their stack.

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This guy should be good for a $0.01 cent break (hopefully upwards as part of a continuation pattern) and should make its move by this evening (around 6:30 pm EST).  If that happens, then my prediction of $0.225 by Sunday close would also be fulfilled.  Let us see how the day goes....

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Interesting... looks like the triangle broke downward but ran into support at the 0.5 fib level and has held it so far.  If this continues to hold, I would take that as a good sign that we have established a floor beneath us.  Another interpretation, of course, is that the triangle pattern was invalid in the first place, but that's no fun :D

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