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Charting the course of XRP


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5 minutes ago, Troote said:

The other thing to keep in mind is that the SEC is just getting started. On December 23rd when they sued Ripple, they also settled with Tierion (TNT) for what was probably a similar lawsuit. It killed the coin completely, by the way, Tierion will not do anything with it anymore. That proves that they are not going after Ripple alone. I would not be surprised if, in the coming weeks/months, we see a few more lawsuits and/or settlements appearing. This is a market-wide action from the SEC. It is frustrating to take the heat, but what if you buy XLM and in 2 weeks time the SEC does exactly the same with the XLM Foundation? You'd lose your money not once but twice for the exact same reason.

I may be completely idiotic and I might be trying to make excuses to justify holding XRP, but it is not completely clear to me whether jumping in another coin to catch green candles minimizes the risk or actually increases it... :\ It is a sh*tty position to be in, that's for sure.

To me , BTC and ETH are the safest . ofc price can/will go down sometimes , but long term I can see ETH easily at 3K , BTC at 80+K.

XRP? I can see it from 0.01 to 0.4$ atm , quite pessimist about it 

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Here’s why I’m not too worried yet, even with XRP. At the end of the day, scalable utility is what matters. Not popularity. We are still really at the beginning of the blockchain revolution. Regulation will fall in place.

The price movements that we see now are not representative of whether those projects succeed in the long term. BTC, ETH, XRP, XLM, LINK, ADA... it does not matter. What matters is utility and none of them have any significant amounts of it with the exception of ETH (which has its own issues but is still ahead of the pack at this moment, in my mind).

Any company/project/investor can make money in a bubble market. It will crash. I’m not sure how many of you were around during the dot com bubble of 1999/2000, and the housing bubble of 2007/2008. Giants fell, their knees cut off in an instant. 

Valuations without utility will always come crashing down. Don’t be the greater fool. 

Edit: I’m comfortable saying I don’t have investments in any proof of work or proof of stake networks. Both eventually lead to centralisation. The only centralisation I’m personally okay with tolerating is with national CBDC blockchains (closed systems by design). I do own stablecoins issued on Ethereum. 

Edited by Ripley
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24 minutes ago, Baka said:

To me , BTC and ETH are the safest . ofc price can/will go down sometimes , but long term I can see ETH easily at 3K , BTC at 80+K.

XRP? I can see it from 0.01 to 0.4$ atm , quite pessimist about it 

I get it but I don't think chasing a 2x return is worth the risk. If doubling my money was my target, I would have given up long ago.

I don't see XRP going to 0.01 all by itself. First because if that were to happen, there will almost certainly need to be a catastrophic black swan event. And it is almost unbelievable in my eyes that XRP would be alone to take the hit. I do not see how jumping on another crypto could provide protection against something like this. If XRP dies, other coins die. Same as if BTC dies, the entire market would suffer immensely.

Second, because even if Ripple loses the lawsuit and XRP is deemed to be a security, it could actually turn out to be the best thing that could happen to XRP. Sure, ODL would no longer be a viable product in the US. But the XRPL Foundation would just get more wind in its sails. It would also mean that XRP become the first a fully regulated product that receives the stamp of approval from the US government. It would be the first crypto-currency to inherit all the legal protections that come with securities. That might actually attract a lot of elaborate investors who still see crypto as a joke (which it is). I mean, I buy securities all the time and what's the problem with that?

So yeah... XRP is riskier than BTC and ETH. Sure. There is an opportunity cost. Yes. That said, I still see the opportunity and the risk increase makes the opportunity even more appealing to me (albeit more stressful, I admit). I think I may just be more risk tolerant than most. Or crazier. It may very well be the wrong decision, but at least I know what I am getting into.

Edited by Troote
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2 minutes ago, Troote said:

I get it but I don't think chasing a 2x return is worth the risk. If that was truly my prices target, I'd be long gone.

I don't see XRP going to 0.01 all by itself. First because if that were to happen, there will almost certainly need to be a catastrophic black swan event. And it is almost unbelievable in my eyes that XRP would be alone to take the hit. I do not see how jumping on another crypto could provide protection against something like this. If XRP dies, other coins die. Same as if BTC dies, the entire market will suffer immensely.

Second, because even if XRP is deemed to be a security, it could actually turn out to be the best thing that could happen to XRP. Sure, ODL would no longer be a viable product in the US. But it would also mean that XRP become the first a fully regulated product that receives the stamp of approval from the US government. It would be the first crypto-currency to inherit all the legal protections that come with securities. That might actually attract a lot of elaborate investors who still see crypto as a joke (which it is). I mean, I buy securities all the time and what's the problem with that?

So yeah... XRP is riskier than BTC and ETH. Sure. There is an opportunity cost. Yes. I still see the opportunity and the risk increase makes the opportunity even more appealing to me (albeit more stressful, I admit). I think I may just be more risk tolerant than most. Or crazier.

I'd prefer making 3x my investment money (90% chance)  than having (1%) chance of 10x it but I guess everyone's different.
I already have ETH and BTC or I would have switched already .

What annoys me the most is that I've been holding this coin for 4 years , and to think to sell at those price is really frustrating.

 

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Just now, Baka said:

I'd prefer making 3x my investment money (90% chance)  than having (1%) chance of 10x it but I guess everyone's different.
I already have ETH and BTC or I would have switched already .

What annoys me the most is that I've been holding this coin for 4 years , and to think to sell at those price is really frustrating.

 

Yeah. Sunk cost fallacy. If you want to exit, it will feel absolutely horrible but ignore that, bite the bullet and exit.

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2 minutes ago, Troote said:

 

Second, because even if Ripple loses the lawsuit and XRP is deemed to be a security, it could actually turn out to be the best thing that could happen to XRP. Sure, ODL would no longer be a viable product in the US. But people outside Ripple would step up. It would also mean that XRP become the first a fully regulated product that receives the stamp of approval from the US government. It would be the first crypto-currency to inherit all the legal protections that come with securities.

 

Sorry, but if XRP is deemed a security, Ripple as a company is dead. The US is a seriously large market for ODL. Ripple cannot afford to lose it. 
 

That said, I personally prefer to stay with XRP than BTC. There is so much FUD it is crazy. I agree with your sentiment, but not with that specific portion of your reasoning.

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1 minute ago, Troote said:

To be honest though, the utility of XRP is seriously undermined (at least in the US).

Chicken and egg problem. Can’t push utility without regulation. I’m hopeful that it’ll be resolved. History (usually but not always) rewards those who take bets that others don’t dare to. 

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7 minutes ago, Ripley said:

Sorry, but if XRP is deemed a security, Ripple as a company is dead. The US is a seriously large market for ODL. Ripple cannot afford to lose it. 
 

That said, I personally prefer to stay with XRP than BTC. There is so much FUD it is crazy. I agree with your sentiment, but not with that specific portion of your reasoning.

I suggest you read these threads. Your view is the conventional one, and you may very well be right. I find the contrarian opinion quite interesting and even though I don't know who is right, I wouldn't rule it out.

https://twitter.com/benmickcom/status/1343891565954162688

https://twitter.com/benmickcom/status/1350156675089629186

Some people also argue that even if XRP is a security, it could still be used by ODL AND offer legal protection on top. Best of both worlds.

https://twitter.com/JoeSmo05464358/status/1327426886058733569

 

Edited by Troote
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2 minutes ago, Ripley said:

Chicken and egg problem. Can’t push utility without regulation. I’m hopeful that it’ll be resolved. History (usually but not always) rewards those who take bets that others don’t dare to. 

Those who invested in BTC are the true winners compared to us , XRP holders.

BTC is the less risky crypto , but if you had hold since 3-4 years like I did with XRP , I would have made much much more.

 

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1 hour ago, Troote said:

Kraken is halting XRP trading in the US. We might be in for another leg down! Or maybe the mini-dump 30min ago was it.

https://blog.kraken.com/post/7450/kraken-to-halt-xrp-trading-for-u-s-residents/

WOW im ******. i should have sold at .36

kraken is the last US exchange right? i need to dump this shit NOW

Edited by patriot420
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1 minute ago, patriot420 said:

WOW im ******. i should have sold at .36

kraken is the last US exchange right? i need to dumb this shit NOW

No it's not the last one. There is still Uphold, Gatehub (who said they would not stop) and probably others.

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5 minutes ago, patriot420 said:

WOW im ******. i should have sold at .36

kraken is the last US exchange right? i need to dump this shit NOW

Made me laugh I don't know why :')

I guess I would have panicked too if I was from US , I would not feel safe having big bags of XRP and knowing that exchanges are halting/delisting XRP.

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6 minutes ago, Troote said:

No it's not the last one. There is still Uphold, Gatehub (who said they would not stop) and probably others.

i was under the impression kraken could still sell XRP even if it lost and got listed as a security. wtf is going on?

Edited by patriot420
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Just now, patriot420 said:

i was under the impression kraken could still sell XRP even if it lost and hot listed as a security. wtf is going on?

Was thinking about this too , not sure what happened. 

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