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Charting the course of XRP

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Posted (edited)
8 hours ago, mariusthegreat said:

I am just really intrigued on how these people / exchanges do this, how they simultaneously pump all coins together. It would take vast amounts of money OR exchanges are colluding and programming multiple fake trades.. ?

Love to hear someone explain how, because none of this is real..?

I think it’s a consequence of trading bots.  Many of them are based on the same theory of trading,  and the same assumptions about what’s a good store of value etc,  and indeed are often the exact same bot purchased by non coders for trading.

So that means that a sell signal somewhere results in bots everywhere executing their sells.  Which then begins a cascade.

Thats just my opinion.

 

EDIT:  actually on re-reading I see you asked about pumps.  I think that is again simply bots...   in general I believe they are coded to believe there is bitcoin and there is alts.  The alts will follow bitcoin.  So when they see a Bitcoin or an Alt buy signal they buy alts and each one does it’s buying on different alts with a net effect of a alt-wide pump.

Its like asking how a herd of sheep know when to turn...  they run looking at their immediate neighbours and turn in unison when one of them in the front does for some trifling reason.

 

Edited by Dogowner5
Elaborated

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Posted (edited)
5 hours ago, Dogowner5 said:

I think it’s a consequence of trading bots.  Many of them are based on the same theory of trading,  and the same assumptions about what’s a good store of value etc,  and indeed are often the exact same bot purchased by non coders for trading.

So that means that a sell signal somewhere results in bots everywhere executing their sells.  Which then begins a cascade.

Thats just my opinion.

 

EDIT:  actually on re-reading I see you asked about pumps.  I think that is again simply bots...   in general I believe they are coded to believe there is bitcoin and there is alts.  The alts will follow bitcoin.  So when they see a Bitcoin or an Alt buy signal they buy alts and each one does it’s buying on different alts with a net effect of a alt-wide pump.

Its like asking how a herd of sheep know when to turn...  they run looking at their immediate neighbours and turn in unison when one of them in the front does for some trifling reason.

 

Thank you for the answer. 

So people / exchanges buys these bots online somewhere? 
 

Sureky they should be regulated ? 

 

Edited by mariusthegreat

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39 minutes ago, mariusthegreat said:

So people / exchanges buys these bots online somewhere? 
 

Sureky they should be regulated ? 

Yeah there are people selling their trading bot which you can then tweak with your own preferences for risk and profit margin etc.

Regulated?  Well most exchanges are regulated to some extent,  but not all,  those that are regulated have varying degrees of rigour applied.  But as for Internet denizens selling their scripts/bots?   Not at all.

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3 hours ago, mariusthegreat said:

Thank you for the answer. 

So people / exchanges buys these bots online somewhere? 
 

Sureky they should be regulated ? 

 

I honestly wouldn’t bother trying to understand the inner workings of this market with regards to all of these bots, hundred of exchanges ran by god knows who, whales that own majority shares in every digital asset, etc.

 

The more I learn about all of that, it makes me question why I even trust my money to be in this market.

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Posted (edited)
50 minutes ago, LittleLordFauntleroy said:

Man, Molten deleted his account.  And Dr Ed has been MIA for months now as well...  True bummer.

But I can understand why.  The trolls in here are outrageous.  I hope they're getting paid well, just to tear down the well-intentioned work of others.

Ed, Molten, hope you're both doing great if you ever read this.  And **** the trolls.

I think they both gave up on the market. Molten tried to trade and I’m guessing got burned badly based on post history. Dr Ed made a big trade between Bitcoin and XRP right after saying he thought the market was going to bull mode and then left right after that.

I’m thinking they both got bold and lost big $$$. 
 

That’s how this market is. Most people leave eventually either after making big money or losing big money. Most don’t stick around. I saw this same thing with waves of people leaving a few years ago before the 2017 bull run. I can’t blame them.

I personally am no longer a fan of this market like I was before. It’s too much of a clown show at times. I rather invest extra money that I have in other assets now.

Edited by AlejoMoreno

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All the markets are silly clown shows right now indeed. Everyone is getting smacked everywhere. Quite a unique ongoing event.  I definitely still believe in the crypto market resurrecting, but no idea exactly when.  It's all going a lot faster than I thought though.  Liquidity is leaving the markets.  Right now and moving forward liquidity issues hitting real economies.  Next step after that should be liquidity re-entering markets once they've hit lows.  Having the patience to wait and not freak out is challenging for many, and rightfully so.   These are trying times to say the least.  Actually they're panicky times, okay.

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Posted (edited)
3 hours ago, LittleLordFauntleroy said:

Man, Molten deleted his account.  And Dr Ed has been MIA for months now as well...  True bummer.

But I can understand why.  The trolls in here are outrageous.  I hope they're getting paid well, just to tear down the well-intentioned work of others.

Ed, Molten, hope you're both doing great if you ever read this.  And **** the trolls.

Say it’s fud or not results don’t lie!

 

https://decrypt.co/25492/ripples-xrp-worst-performing-crypto-asset-this-year-report

126C61CA-0FC3-42F1-82C5-8E27A25F6BA8.jpeg

Edited by BravoTango

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Posted (edited)
14 hours ago, xrphilosophy said:

All the markets are silly clown shows right now indeed. Everyone is getting smacked everywhere. Quite a unique ongoing event.  I definitely still believe in the crypto market resurrecting, but no idea exactly when.  It's all going a lot faster than I thought though.  Liquidity is leaving the markets.  Right now and moving forward liquidity issues hitting real economies.  Next step after that should be liquidity re-entering markets once they've hit lows.  Having the patience to wait and not freak out is challenging for many, and rightfully so.   These are trying times to say the least.  Actually they're panicky times, okay.

Absolutely my view too.  Ripple/XRP/ODL has been building itself up very nicely in the very foundations of the markets it has targeted to disrupt.  Sometimes it has taken them longer, sometimes they have got it wrong, but always where there is a chink they see an opportunity, and in they flow with their solutions.  

I have as much, if not more faith in their management strategy now than a year ago, because they have been progressing and because it seems to me they have a common sense approach to business and clear goals.

The sadness of the Corona virus epidemic is playing into their strengths and speeding up the processes they are riding.

I think XRP could bottom out much lower than it is at present, because ODL vol are still very low.  but I feel my investment is safe in the long term and I I go on buying the dips

Edited by Julian_Williams

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56 minutes ago, Quaed said:

What are the most valued lessons have you learned from the previous bear and bull market? I entered the market in October 2017, but failed to sell as greed got the better part of me. Ever since we're on the train heading south, I've been holding and hoping that this market would turn around at some point. Patience is seriously being tested at this point, as XRP (as well as BTC) performs like shit and we're slowly working towards the third (!) bear market year.

What I probably dislike most about this market is the fact that logic and reason don't apply at all. Incredible news has zero effect on the price, while the hack of a 50-something largest exchange on the world causes a market wide meltdown. Meanwhile institutional investors have been entering the market for about two years now, but we see little to no effect on the price nor do we see a significant increase in trading volume. Man, I am missing the days when crypto still was exciting..

Looking forward to your answer.

I think you answered yourself.  At present good news is not registering, and there is no bottom because there are no fundamentals to support price at any given point.  Price is arbitrary and driven by sentiment, manipulation and greed. 

But institutional money will at some point move in and stabilise the market, and then push it up if the technology has potential to make real money

No one can prejudge what is going to happen in the next week or six months or year

If you believe digital money and XRP are the future, you pick an entry point and sit still and wait and wait and wait.  If you don't believe in digital money or XRP you keep out of this market because it obeys no rules and TA hardly works.

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46 minutes ago, Quaed said:

I used to have good hopes for institutional money entering this market, but man o man it's been a while since we've been hearing that tune. One starts to wonder if it is still going to happen..

Regarding the entry point, I've positioned myself a long time ago, but I am no longer buying for two reasons: I am content with my current stack and I want to see results (i.e. positive price action). As for Ripple, I am a believer in the vision of and the team of people behind Ripple, but I dislike their tactic to stay under the radar and not promote XRP in any way. I'd want to see Ripple make a public statement that they're officially considering to move their headquarters abroad to a more crypto-friendly country, in order for the legislative procedure to speed up. 

I guess it all boils down to patience, but after my third multi-month break from crypto and seeing that the market has still not entered a new bull phase, but instead is reaching for new lows, my interest in crypto is wearing off fast..

/Rant off

Think early years of mobile phones when almost no one owned one and they were the size of bricks....and then how mobile phones blossomed into iphones etc etc.  We are not even at the stage where a few very rich individuals own mobile phones the size of bricks and the potential is far far bigger than what happened in the mobile phone industry.  Cross border payments is bigger than World GDP and Ripple XRP are positioned to take a big slice of that market.

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1 hour ago, Quaed said:

I used to have good hopes for institutional money entering this market, but man o man it's been a while since we've been hearing that tune. One starts to wonder if it is still going to happen..

Regarding the entry point, I've positioned myself a long time ago, but I am no longer buying for two reasons: I am content with my current stack and I want to see results (i.e. positive price action). As for Ripple, I am a believer in the vision of and the team of people behind Ripple, but I dislike their tactic to stay under the radar and not promote XRP in any way. I'd want to see Ripple make a public statement that they're officially considering to move their headquarters abroad to a more crypto-friendly country, in order for the legislative procedure to speed up. 

I guess it all boils down to patience, but after my third multi-month break from crypto and seeing that the market has still not entered a new bull phase, but instead is reaching for new lows, my interest in crypto is wearing off fast..

/Rant off

If you are a hodler, what has changed?
If you trade, then there is still opportunity to trade.

A market this new and unregulated is always a gamble.

i also got in in late 2017. Added more in the bear.

Now just waiting for win or bust.

never gamble with money you cant afford to lose.

 

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Posted (edited)

Times like these are when you have to roll back into fundamentals. If you feel like it’s time to get out of crypto then I will not fault you, heck you might be the smartest one when it is all said and done. As for me I am hodling.

I quit my high paying job on February 27 (talk about timing right before this got out of hand) to go travel Europe on a 1,200 Eurorail pass for three months and when that couldn’t happen I met up unexpectedly with a blonde, blue-eyed los angeles girl I haven’t seen in 14 years since college. Make the most of life even in bad times as life is short and the grey hairs in my head are starting to explode.

Edited by ManBearPig

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