Jump to content

Delusions and madness of the crowd


Recommended Posts

  • Replies 27
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

TLDR: If you’re a lazy reader, take a look at the first and last paragraph. If you find them interesting, you’re welcome to read the rest as well.   For the past few months, even when XRP wa

1) Nobody knows how much XRP is needed on the market. This is basically a true statement for any asset out there.   Look at gold for example. The entire supply of gold is at about 190k tons,

At sub $ .10 cents XRP is an insane deal. Not often do we come across such once in a lifetime opportunities. We are truly blessed.

6 hours ago, FarangKiNok said:

At sub $ .10 cents XRP is an insane deal. Not often do we come across such once in a lifetime opportunities. We are truly blessed.

the once in a life time was when btc was like few cents, not xrp at 10c, you need to get your facts right before posting things like this to misleading others

Link to post
Share on other sites
9 minutes ago, ripplewaytogo said:

the once in a life time was when btc was like few cents, not xrp at 10c, you need to get your facts right before posting things like this to misleading others

Actually, he could be right.

XRP going from .1 to $10 or even $5 is very much life changing for many people depending on the amount invested. If XRP went to ATH right now I'd be debt free and have a very large chunk of cash to spare. That's life changing for me.

What's to say it won't again? Simply since the price has been depreciating for no reason? 

Who's misleading who

Link to post
Share on other sites
34 minutes ago, ripplewaytogo said:

the once in a life time was when btc was like few cents, not xrp at 10c, you need to get your facts right before posting things like this to misleading others

Yes, don't mislead people by talking positively about an asset with good fundamentals that is currently sitting at -95% of its ATH.

It's much better to wait for a bull market and tell all your friends how much money people made on crypto after price shot up 3000%, so they get FOMO and invest at the top.

 

Unless you believe crypto market is going to die completely, answer this: does -95% of an ATH (across the entire market) tell you we are close to a top of a cycle or close to a bottom of one?

 

Link to post
Share on other sites
1 hour ago, Ramforinkas said:

Actually, he could be right.

XRP going from .1 to $10 or even $5 is very much life changing for many people depending on the amount invested. If XRP went to ATH right now I'd be debt free and have a very large chunk of cash to spare. That's life changing for me.

What's to say it won't again? Simply since the price has been depreciating for no reason? 

Who's misleading who

for sure and when we all watched XRP crest over $3, $10 sure seemed close. 

Link to post
Share on other sites
2 minutes ago, Dario_o said:

the scary part here is the chance that whole 2017 rally was just a one-shot Tether pump

There has been some speculation that the Great Crypto Spike was triggered by the actions of a single whale's actions.

Combined with holiday family discussions and most of the exchanges closing down new signups, or taking weeks to process - which triggered even more FOMO.

Since we're still in the dev stage of the tech's deployment, hindsight makes it painfully clear massive corrections were inevitable. 

We'd all love to send ourselves an email message back in time heh.

Link to post
Share on other sites
1 minute ago, Dario_o said:

the scary part here is the chance that whole 2017 rally was just a one-shot Tether pump

 

This is a video from someone live streaming a Bitcoin flashcrash in 2011, it goes from 5 USD to less than 0.01 USD in minutes on Mt Gox:

Imagine going through this in 2011, when no one knew about Bitcoin and no infrastructure whatsoever existed. Crypto survived this. It survived the 2013 ATH and crash. It will survive the 2017 bubble as well.

Link to post
Share on other sites
3 hours ago, Dario_o said:

This for sure, but it's not what I said

Yes, sorry, I was not specific enough in my answer. I was referring to your calls in other topics that we may see 0.03 USD/XRP. Although I do not know where the true bottom is, I personally don't think we would be able to reach that number, simply based on the buying pressure and sellers unwilling to spend enough XRP on sell orders to reach 0.03 XRP/USD, except maybe a weird wick down, if someone accidentally clears all buy orders, but that would likely happen on one of the illiquid exchanges, not across the entire market.

 

If we actually lingered at that price for a while, I would consider crypto market dead, because it would take several years to dig out of a depression that deep, meaning it would be wiser to spend your investment in basically any other asset on the planet.

 

Again, I am feeling like the opposite of late December 2017 is happening - I never thought 100 USD/XRP was possible in that bull run, but 5 USD/XRP seemed very close when we reached over 3 USD/XRP in a matter of 2 weeks, so I didn't sell at the top.

Now, many are calling for absurd numbers under 0.10 USD and even under 0.01 USD. Obviously, the price might fall down from here, but just like in late 2017, when there was not enough USD thrown into the market to realistically reach 100 USD/XRP, I don't believe there is enough XRP available at under 0.10 USD/XRP to reach extremes like 0.03 USD/XRP for an extended period of time.

 

EDIT: apology, I just checked and it was not you calling for 0.03 USD/XRP, so my answer is obviously meant for a different user. Disregard the message above, but I will leave it in its original form nonetheless :)

I see now I accidentally confused your account with @Javim777 , so I might as well tag him here.

Edited by QWE
Apology
Link to post
Share on other sites

The answer is painfully obvious to me - xrp, for the time being, is hamstrung by regulatory uncertainty. Even the CEO of MoneyGram basically said that they couldn't hold xrp because of the lack of regulatory clarity. SBI in Japan, in it's latest company report, specifically addressed this issue with their details of ramping up in anticipation of regulations going into effect sometime in March or April 2020. (I believe the regs were passed in July or August, and are just waiting to go into effect.) Once holding xrp is no longer limited to exchanges and MM's, I believe that we'll see some significant price appreciation due to the rapid "absorption" of any excess of xrp. When combined with more open corridors (coming SOON!) this will be the turning point where xrp dissociates from bitcoin and appreciates primarily on its own merits. Just look at it this way - when a financial player wants to move large amounts of money, they're now limited by the available liquidity within a specific corridor, whereas, if they were able to hold xrp in sufficient amounts, they could transact much more freely with whomever, whenever.   

Link to post
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


×
×
  • 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.