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Brad Garlinghouse was right all this time..


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... being long on BTC 

Elon Musk has a lot of influence. But I don't fully understand him sometimes. First he was promoting Dogecoin... A coin that it's founder admitted years ago that it was a joke and that he hadn't worke

You do realize that Bitcoin is everything that XRP can only pretend to be? Bitcoin is not valuable because people say so... rather it is valuable because it is TRUSTLESS, DECENTRALIZED, NON INFLATIONA

He was smart on predicting that one: https://www.wsj.com/articles/tesla-buys-1-5-billion-in-bitcoin-11612791688. Tesla bought 1.5 billion in bitcoin.  Bitcoin may literally go to the moon, if not the moon maybe somewhere else in outer space.

Sucks for XRP holders, while Ripple dumped over a billion dollars of XRP on retail holders and is getting sued by the SEC.

Edited by wogojump
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Elon Musk has a lot of influence. But I don't fully understand him sometimes. First he was promoting Dogecoin... A coin that it's founder admitted years ago that it was a joke and that he hadn't worked on the project in a long time. I have friends that asked me about how to invest in it. I'm sure some people are making good money on it, but some people also lost. if I was Elon I'd stay out of it.

Then there is Bitcoin. I don't fully understand why he would promote it based on the tech and environmental impact.... Transaction Fees are beyond expensive. It's slow as hell. It has no throughput and the network can really back up. Mining is stupid and bad for the environment. Millions of CPUs are doing pointless work. They are taking a chunk of the recent transactions, hashing them together with a random number, and then counting the number of leading zeros on the hash trying to find one with approximately 18 zeros. This is such a waste of energy and its only going to get worse. Not to mention it's centralized. People buy into Bitcoin to make money. I think if they had a better understanding of how it works they would ask themselves "why would people use or want this?" It was a great proof of concept coin, but I think there are so many better ideas now.

Anyways, end rant. I've done my research, just mad it hasn't paid off:)

 

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28 minutes ago, fastfalcon94 said:

Elon Musk has a lot of influence. But I don't fully understand him sometimes. First he was promoting Dogecoin... A coin that it's founder admitted years ago that it was a joke and that he hadn't worked on the project in a long time. I have friends that asked me about how to invest in it. I'm sure some people are making good money on it, but some people also lost. if I was Elon I'd stay out of it.

Then there is Bitcoin. I don't fully understand why he would promote it based on the tech and environmental impact.... Transaction Fees are beyond expensive. It's slow as hell. It has no throughput and the network can really back up. Mining is stupid and bad for the environment. Millions of CPUs are doing pointless work. They are taking a chunk of the recent transactions, hashing them together with a random number, and then counting the number of leading zeros on the hash trying to find one with approximately 18 zeros. This is such a waste of energy and its only going to get worse. Not to mention it's centralized. People buy into Bitcoin to make money. I think if they had a better understanding of how it works they would ask themselves "why would people use or want this?" It was a great proof of concept coin, but I think there are so many better ideas now.

Anyways, end rant. I've done my research, just mad it hasn't paid off:)

 

You do realize that Bitcoin is everything that XRP can only pretend to be? Bitcoin is not valuable because people say so... rather it is valuable because it is TRUSTLESS, DECENTRALIZED, NON INFLATIONARY. XRP is none of these, in fact it is the exact opposite type of system, taken to the extreme limit.

Transaction speed is relative, meaning that on it’s slowest day, BTC will still settle multitudes faster than any legacy banking system ever could hope for. Sure XRP can settle faster than BTC, but it comes at the cost of being forced to trust a highly centralized system, completely controlled by a private company. Been stating this for years: NO serious investor or FI will ever trust XRP as long as it is 100% controlled by Ripple Labs. Just a simple fact— Econ 101. RL’s greed for wealth and power over XRP doomed the project from the start.

Moving on to the argument regarding the climate. This is superficial and baseless. I could list 10 valid reasons how BTC mining could save the environment, (provided one even believes the climate is in danger🙄) and they all will have just as much validity and proof as any reason you can list against it.

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11 minutes ago, RussianStandards said:

XRP is completely controlled by Ripple? 

YES.

Ripple own 54% (65%) of the total supply.

Ripple sells and buys back.

Ripple decides if it has to rain or the sun is allowed to shine.

Edited by JJJ2
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1 hour ago, RussianStandards said:

I assume you are being sarcastic. Ripple does not control XRP, or the XRPL. It has a majority holding on the tokens yes.

Conveniently with the large holdings one controls supply and in turn price. RL can turn off the lights anytime they wish. No one else can.

I feel that any other definition of control is meaningless in this context.

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7 minutes ago, Valhalla_Guy said:

Conveniently with the large holdings one controls supply and in turn price. RL can turn off the lights anytime they wish. No one else can.

I feel that any other definition of control is meaningless in this context.

The coins are placed in escrow.  They're limited in the amount that they can dump into the market.

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30 minutes ago, macropolo said:

The coins are placed in escrow.  They're limited in the amount that they can dump into the market.

Uh   no one is purchasing from the escrow. Easily each month they can more than halve the price of XRP.

Heck they can turn off the lights simply by announcing they were planning on dumping. 
 

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50 minutes ago, Valhalla_Guy said:

Uh   no one is purchasing from the escrow. Easily each month they can more than halve the price of XRP.

Heck they can turn off the lights simply by announcing they were planning on dumping. 
 

Point 1. No they can't

Point 2. Can you point to a single example of them explicitly doing this at any point through the history of the XRPL?  Also, why would they announce that they were dumping?

If we assume that the escrow release dates are defacto announcements of Ripple's intent to dump, why do the prices not drop massively on those dates?

 

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3 hours ago, macropolo said:

The coins are placed in escrow.  They're limited in the amount that they can dump into the market.

the monthly escrow is so big that they can place only 1/10 and you don't even know if this amount (100mln) are immediately bought by retail traders or stocked by MM and sold slowly during the next weeks/months.

Edited by JJJ2
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1 hour ago, macropolo said:

Point 1. No they can't

Point 2. Can you point to a single example of them explicitly doing this at any point through the history of the XRPL?  Also, why would they announce that they were dumping?

If we assume that the escrow release dates are defacto announcements of Ripple's intent to dump, why do the prices not drop massively on those dates?

 

They are continuously doing it. Haven't you realized that xrp is the only one not taking part to the party and if it increases value is this is only driven by throttling the dumping action?

It is in front of your face in the form of price chart.

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