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Jed McCaleb sales reach new all-time high amid XRP volume increase


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On 8/18/2020 at 7:53 AM, Dogowner5 said:

Nah I don’t think so.  I think @LetHerRip has been doing exactly as he says.  Which makes his voluminous negativity (that he spreads at every opportunity) look awfully like trying to push sentiment, and therefore the price,  down.

Personally I doubt sentiment on here can push in any direction at all,  but it certainly makes his endless negativity look like it is self serving.

1st rule in trading, the trend is your friend never bet against the trend.

2nd is don't get attached to your position.

Step 3: Profit

The internet is full of delusional Ripple/XRP dot connecting nut cases trying to twist every negative to a positive but they still cant move the market or go against the trend, its not a couple of realists like me that can either.

The difference from me to them is I don't fight it, it is what it is, I have been long, I have been short, I will be long again if the opportunity arises. I'm here for Step 3 only, not to please Ripple management or to defend 2018 underwater top buyers.

I'm not negative or positive, that is an other mistake you make. I'm completely neutral but realistic... or even bullish biased, Id much rather prefer bullish action, but it is what it is.  

 

Edited by LetHerRip
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For the record, I am still very much an XRP bull!  Just, as old timers will recall, I am and have always been a *Ripple Founders* and initial distribution sceptic, as well as how they for a long t

https://www.xrparcade.com/news/jed-mccaleb-sales-reach-new-all-time-high-amid-xrp-volume-increase/

Not necessarily. I would say volume is more important to him, as the greater the volume, the more he can sell. Crypto is still a risk. He's probably of the mindset of 'sell it while I can'. Shoul

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7 hours ago, LetHerRip said:

1st rule in trading, the trend is your friend never bet against the trend.

2nd is don't get attached to your position.

Step 3: Profit

This the internet is full of delusional Ripple/XRP dot connecting nut cases trying to twist every negative to a positive but they still cant move the market or go against the trend, its not a couple of realists like me that can either.

The difference from me to them is I don't fight it, it is what it is, I have been long I have been short I will be long again if the opportunity arises. I'm here for Step 3 only, not to please Ripple management or to defend 2018 underwater top buyers.

I'm not negative or positive, that is an other mistake you make. I'm completely neutral but realistic... or even bullish biased, Id much rather prefer bullish action, but it is what it is.  

 

Then why didn't you go long or at least close your position when XRP broke out of it's downtrend, or when it did a reversal pattern of higher lows and testing higher resistances each time. Or after it doubled in 5 months. Especially when going short usually incurs a cost of interest on the cash borrowed. 

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  • 2 weeks later...
On 8/18/2020 at 8:47 AM, LetHerRip said:

1st rule in trading, the trend is your friend never bet against the trend.

2nd is don't get attached to your position.

Step 3: Profit

The internet is full of delusional Ripple/XRP dot connecting nut cases trying to twist every negative to a positive but they still cant move the market or go against the trend, its not a couple of realists like me that can either.

The difference from me to them is I don't fight it, it is what it is, I have been long, I have been short, I will be long again if the opportunity arises. I'm here for Step 3 only, not to please Ripple management or to defend 2018 underwater top buyers.

I'm not negative or positive, that is an other mistake you make. I'm completely neutral but realistic... or even bullish biased, Id much rather prefer bullish action, but it is what it is.  

 

Perhaps this is a more appropriate thread to delve into this.  @LetHerRip here in this thread a couple weeks ago how you mentioned you've been shorting XRP "since 2018".  Do you mind sharing some more details?  Are you still short or have you seen any broader market changes that would warrant a change of course on XRP?  I believe our low was .11 or .12 during the March meltdown.  I was lucky enough to grab a bunch at .15.  I'm not an expert on trading and curious how you execute a short trade years ago and leave it open?  If you did and thats still open do you expect XRP to find new lows?  I'd love to know your exact stance on your holdings of XRP.  I'm curious what your DCA is on the XRP you hold as well as your plan on eventual exit?  Also, zooming out what, if any, digital assets have your attention in terms of long-term value and why?  From your post history it seems like you are bearish on even the long-term value of XRP and not just frustrated with the current price.  I'd love to know what else out there has you excited for the future?  Surely you must be positive and excited about something?

Edited by aavkk
clarity on thoughts and some grammar.
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1 minute ago, aavkk said:

Perhaps this is a more appropriate thread to delve into this.  @LetHerRip here in this thread a couple weeks ago how you mentioned you've been shorting XRP "since 2018".  Do you mind sharing some more details?  Are you still short or have you seen any broader market changes that would warrant a change of course on XRP?  I believe our low was .11 or .12 during the March meltdown.  I was lucky enough to grab a bunch at .15.  I'm not an expert on trading and curious how you execute a short trade years ago and leave it open?  If you did and thats still open do you expect XRP to find new lows?  I'd love to know your exact stance on your holdings of XRP.  I'm curious what your DCA is on the XRP you hold as well as your plan on eventual exit?  Also, zooming out what, if any, other digital assets have your attention in terms of long-term value and why?  

If I recall correctly you have been hater of what I have had to say over the years... Now you asking me for personal information and trading advice?!

My first reaction was to blow you off on the other thread, but since you did post some personal information I couldn't make out if your where being serious or just trolling.

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Just now, LetHerRip said:

If I recall correctly you have been hater of what I have had to say over the years... Now you asking me for personal information and trading advice?!

My first reaction was to blow you off on the other thread, but since you did post some personal information I couldn't make out if your where being serious or just trolling.

Absolutely not trolling.  I take the Ray Dalio position of asking people from all different backgrounds and opinions to try and see all angles.   I would say the one thing I actually do well is remove emotion from the various investments I own, whether it be private seed money in startups, XRP, residential RE or otherwise.  It really doesn't bother me one bit that you openly disparage XRP and Ripple and I'm just trying to understand your view on this.  I don't care to know how much XRP you have long or short just your stance and position in general.  I am making the assumption that because you spend a lot of time here that the digital asset market is of great interest to you.  Aside from your specific exposure to XRP, whether long or short, what else out there are you excited about the long-term value of?  Or is it nothing and you just trade?  I'm curious.  Finally, I think you have me confused with someone else as I've never once said anything bad or negative about any member on this forum our elsewhere.  I'd encourage you to check my post history.  Life is too short and beautiful to be pissed off and I try and learn and grow every day.  That's all.  

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  • 2 months later...

Jed would dump all his XRP for XLM if he was allowed to. XLM has a much better position to recognize gains since they burnt half their tokens. Jed can’t exchange all his XRP because he is being limited as Ripple has custody of Jed's XRP and the rate of release is subject to a contractual agreement between Ripple and Jed. The details of this are public and he is limited to how much he can dump per month. Otherwise he would tank whatever value is left of XRP.

Edited by Scout
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Little bit of anecdotal history for you youngens... :D

Back in the Olden Days on Ye Olde XRPtalk, there was a (now infamous) thread, the "sales incoming" one – which grew into a debate on the forums about whether Jed's sudden sales (WHAT a week that was!) should be stopped (by exchanges and/or Ripple) or if it were better to just let it happen and take the pain and bid up all the cheap zerps. Many of us were ready for the beating, even foaming at the mouth eagerly, to scoop up very (VERY) cheap XRPs should it get bloody and nasty.

I think the low was ~0.003 or something (I could check Coingecko but can't be bothered right now!) but it might have gone waaaaaaaaaaaaa.... aaaaayyyy lower had such an idea been allowed to occur. Maybe we were all in a temporary drunken stupor, and some of us just didn't want Jed to benefit long term from his own brazen disregard, but many of us did seriously consider the idea that Jed could just empty out his wallets at disgusting prices like 0.00000001 or something. (It also might have forever killed XRP, but who knows...) 

Anyway, just a bit of fun history! (Huruken, where are you?!)

Edited by thinlyspread
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1 hour ago, thinlyspread said:

Anyway, just a bit of fun history!

Always good to hear from you.   Yes I’ve often thought that leaving him to dump might have actually had the best result.  Hindsight is 20/20.
 

I didn’t know about XRP back then though...  I had heard of Bitcoin, was tempted to invest a small amount,  but was too lazy to go through the rigamarole that was needed back then.

I try not to compare myself too much to others,  but I must admit how jealous I am of you guys that got in way early.  More power to ya...  hope someone says that about me someday.  :)    (It’s not likely I suppose... but it is possible)

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15 minutes ago, kanaas said:

You mean Hurukan? The one who happened to run XRPTALK (predecessor of this board)?

I'm pretty sure he means: hadouken literally meaning "wave motion fist" or "fist of surge" We are all waiting for the BIG BANG and yesterday's price action was nothing more than a wet fart!

Edited by Scout
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