Cryptocurrency market trends I

[Apollo]

I got in cheap when the case was filed and it dropped to 16 cents, so I win either way

So many coins went up 20-40x since then, so still lost opportunity costs by holding it. XRP is high risk with only medium reward compared to other cryptos.

 

[dr.leorio]

So many coins went up 20-40x since then, so still lost opportunity costs by holding it. XRP is high risk with only medium reward compared to other cryptos.

Do you have your apology letter written yet? I can't wait to read it whilst drinking tea and laughing my ass off and refreshing my portfolio

 

[Apollo]

Do you have your apology letter written yet? I can't wait to read it whilst drinking tea and laughing my ass off checking my portfolio.

Good luck with your gamble, but what I said above is true. It is the only coin that is being sued by the SEC.

The SEC won virtually every single lawsuit against crypto entities.

Basic logic:

- Many coins are outperforming XRP with no SEC risk.
- XRP has SEC risk.

There is no reason to invest in it besides loving to gamble.

 

[kickz]

So many coins went up 20-40x since then, so still lost opportunity costs by holding it. XRP is high risk with only medium reward compared to other cryptos.

At this rate it will 40X by this month from its low, but obviously you want to be diversified in all the big coins.

 

[dr.leorio]

Good luck with your gamble, but what I said above is true. It is the only coin that is being sued by the SEC.

The SEC won virtually every single lawsuit against crypto entities.

Basic logic:

- Many coins are outperforming XRP with no SEC risk.
- XRP has SEC risk.

There is no reason to invest in it besides loving to gamble.

In The Ripple Case, The SEC Is Now On Trial – And Knows It

Court-ordered discovery could present inconvenient facts about former Securities & Exchange Commission leaders and their motivation.

www.forbes.com

The case was a distraction from the start. If you did any research you would know Ripple has been meeting with the SEC regulators every week since it's inception (2012). They are working together. (But keep believing all the bullshit media narratives they feed you)

The only issue the SEC might have with Ripple is the 50 billion XRP in escrow. They can't let Ripple become richer then every central bank in the world so they'll most likely forfeit the escrowed XRP to the Fed or IMF before moontime. A very small price to pay in changing how money works forever.

Longterm wise BTC and all your favorite coins are shit. Banks will never truly trust unregulated coins. XRP will become the standard and the "gambling" you accused me of will be replaced by utter genius. Keep up the charades though and continue to not invest. I'll definitely be having the last laugh

 

[Apollo]

In The Ripple Case, The SEC Is Now On Trial – And Knows It

Court-ordered discovery could present inconvenient facts about former Securities & Exchange Commission leaders and their motivation.

www.forbes.com

The case was a distraction from the start. If you did your reseaech you would know Ripple has been meeting with the SEC regulators every week since it's inception (2012). They are working together. (But keep believing all the bullshit media narratives they feed you)

The only issue the SEC might have with Ripple is the 50 billion XRP in escrow. They can't let Ripple become richer then every central bank in the world so they'll most likely forfeit the escrowed XRP to the Fed or IMF before moontime. A very small price to pay in changing how money works forever.

Neither you nor I are legal experts, betting against the US government is not something I would advise young retail investors to do.

Longterm wise BTC and all your favorite coins are shit. XRP will become the standard and the "gambling" you accuse of will be replaced by utter genius. Keep up the charades though and continue to not invest. I'll definitely be having the last laugh

First of all, I don't hold any BTC, secondly I am agnostic on who will become the crypto winner long term.

Nevertheless, what I can certainly foresee is that there is zero chance that XRP will ever become the dominant #1 crypto. It is not even innovative. The guy who started it was a Magic The Gathering nerd who got inspired by bitcoin. Ripple Labs pays banks and financial services companies to try out their products yet virtually none of them actually use it and they often drop it after a few months.

 

[dr.leorio]

Neither you nor I are legal experts, betting against the US government is not something I would advise young retail investors to do.



First of all, I don't hold any BTC, secondly I am agnostic on who will become the crypto winner long term.

Nevertheless, what I can certainly foresee is that there is zero chance that XRP will ever become the dominant #1 crypto. It is not even innovative. The guy who started it was a Magic The Gathering nerd who got inspired by bitcoin. Ripple Labs pays banks and financial services companies to try out their products yet virtually none of them actually use it and they often drop it after a few months.

Y'know over time I've kinda grown fond of your ignorance Amun. Going back and forth paragraph after paragraph was enjoyable once. But this is just ridiculous now. I will not be holding back post XRP moon. I'll personally be ending your Somali spot career with the shame you're going to feel.

Goodluck and Godspeed

 

[Apollo]

Y'know over time I've kinda grown fond of your ignorance Amun. Going back and forth paragraph after paragraph was enjoyable once. But this is just ridiculous now. I will not be holding back post XRP moon. I'll personally be ending your Somali spot career with the shame you're going to feel.

Goodluck and Godspeed

Why would Somalis love XRP or would XRP dominance be good for Somalia? A centralized American entity controls 50% of it (probably even more). It would only enrich some silicon valley tech bros and increase global wealth inequality.

At least Bitcoin (BTC) and Ethereum (ETH) are held by people all over the world. There is nobody to sue there nor is there anybody who controls vast amounts of it. There is even some evidence that the Chinese government has been secretly accumulating BTC (according to Peter Thiel).

 

[Nak-Muay-Kru]

"I've been really getting into crypto lately, yeah, brought some XRP, I hear it's doing good" -My middle aged Jamaican barber. Looking forward to the sea of pink wojaks when it finally takes a collosal shit

 

[dr.leorio]

Why would Somalis love XRP or would XRP dominance be good for Somalia? A centralized American entity controls 50% of it (probably even more). It would only enrich some silicon valley tech bros and increase global wealth inequality.

At least Bitcoin (BTC) and Ethereum (ETH) are held by people all over the world. There is nobody to sue there nor is there anybody who controls vast amounts of it. There is even some evidence that the Chinese government has been secretly accumulating BTC (according to Peter Thiel).

The Inherently Decentralized Nature of XRP Ledger | Ripple

XRP Ledger is in many ways a more transactional, functional and decentralized ledger than either Bitcoin or Ethereum.

ripple.com

XRP Ledger Explorer - XRPSCAN

Explore XRP Ledger, accounts, addresses, balances, transactions, validators, nodes, amendments, metrics and charts.

xrpscan.com

XRP Charts

XRP Ledger Data Visualization.

xrpcharts.ripple.com

We've had this conversation before man. The XRP ledger is inherently decentralized with Ripple owning less than 20% of the validator nodes. That means if anything happens to Ripple the company or the US, XRP can and will still be used. The perfect example is how all the US exchanges have currently delisted XRP; but since 90% of Ripple’s customers are overseas (foreign banks), it hasn't affected the price. In fact, the XRP price has increased since the FUD lawsuit.

Speaking of decentralization, how is BTC decentralized when the Chinese Communist Party owns the majority of the bitcoin mining machines? How are Ether and Bitcoin practical for global adoption when the fees associated with transferring crypto are ludicrously high? And don't get me started on how slow the transfer speeds are too.

Somalia needs better leadership. I'm not sure why you randomly brought that up in this conversation. The point still stands. You have no valid reasons to not invest in XRP besides your ignorance.

And Walahi once the regulatory clarity comes into this space, it would be better to never have known about crypto instead of being a BTC maxi (or whatever else shitcoin you're invested in). You will hate yourself once I'm proven right. And I will be right.

 

[Apollo]

We've had this conversation before man. The XRP ledger is inherently decentralized with Ripple owning less than 20% of the validator nodes. That means if anything happens to Ripple the company or the US, XRP can and will still be used. The perfect example is how all the US exchanges have currently delisted XRP; but since 90% of Ripple’s customers are overseas (foreign banks), it hasn't affected the price. In fact, the XRP price has increased since the FUD lawsuit.

Ripple Labs and other XRP insiders own over 50% of the coins, that's centralized point blank. There were no mining rewards, no slow release over time, no proof of stake distribution, nada. XRPs were created instantly out of thin air and were hoarded by Jed McCaleb and subsequently by Ripple Labs. If you think this will be the future global reserve currency, then I have no words.

Speaking of decentralization, how is BTC decentralized when the Chinese Communist Party owns the majority of the bitcoin mining machines? How are Ether and Bitcoin practical for global adoption when the fees associated with transferring crypto are ludicrously high? And don't get me started on how slow the transfer speeds are too.

China's government doesn't own those miners. They are individual entrepreneurs who compete against each other. If there is any indication of a CCP take over of those miners then various algorithms and code can be changed through full node democracy and other methods. Most of the full nodes exist in Western countries. The developers are mostly Westerners.

As for the high fees and the slowness, they are currently building the liquid network which solves most of these issues. BTC is a store of value at the moment, not a payment system. Moreover, there is the Bitcoin Cash (BCH) fork which is relatively fast and cheap for payments and has the same fair launch and decentralization as BTC.

Somalia needs better leadership. I'm not sure why you randomly brought that up in this conversation. You and your ideas would not be accepted there anyway. The point still stands. You have no valid reasons to not invest in XRP besides your ignorance.

Because you are rooting for XRP to become the #1 crypto. This only enriches a handful of Silicon Valley Americans and pretty much nobody else. There are far more people in Africa, Latin America, and Asia who hold BTC & ETH than XRP.

XRP purchasers are only enriching fat cats like Jed McCaleb, Brad Garlinghouse et al.

I'd much rather have the current fiat system than enrich shady ass characters like Jed McCaleb.

And Walahi once the regulatory clarity comes into this space, it would be better to never have known about crypto instead of being a BTC maxi (or whatever else shitcoin you're invested in). You will hate yourself once I'm proven right. And I will be right.

I don't care what happens with the law suit. Good luck with your gambling and betting against the US government. 50% chance you will lose a lot of money instantly.

There are far better risk-reward plays out in the crypto space.

 

[Galool]

@dr.leorio you're making this way too tribal.


Many cryptos have 10x, 50x or 100x while XRP was hovering at 20-30 cents the past couple years.

XRP was my first crypto purchase 3 years ago but I quickly moved on. This was you 3 years ago at $1, it's $1.38 today.

No need to shill one for all these years, let's be rational and not make these cryptos into a religion.

 

[dr.leorio]

@Apollo
That's why I mentioned earlier that the 50billion XRP in escrow will be given to the Fed or IMF. That's what the SEC lawsuit is really about. Once the escrow transfer happens, please stop saying XRP is centralized. And btw even if Ripple "owns" the preallocated XRP in escrow and decided to turn off all their validator nodes today, XRP will still be transferrable fungible asset that still works. That is the definition of decentralization Amun.

Jed Mccalab was kicked out of Ripple labs because he had a different vision for crypto so he started XLM. He has been selling XRP for the past 2years and will be finished selling on June 2021 by the current rate. He was forced to sell his billions of XRP due to the lawsuit he had with Ripple. I'm not sure why you're conflating the two.

Africa's poor cannot use BTC and Ether due to the costs of transferring and energy consumption. Right now, Bitcoin uses more energy per year than the country of Switzerland. That's completely unsustainable and not practical. And the lightening liquid network bullshit developers have been working on for BTC has done nothing so far. The coin is a dinosaur.

Bitcoin had first movers advantage and I'm grateful for it. I've made a lot of money off the orange fool. But like Myspace, it will be irrelevant in the longterm.

Hahaha do you even understand how communism works? If China decides to pull the plug. They will kill that shit in less than 1 hour. No ifs ands or buts. And I don't believe most of BTC miners are entrepreneurs or outside the country. Please provide a source for your misinformation.

You call it gambling when I've done 3+ years of research on crypto and have been in the space since 2015. I honestly don't need to reply to your longwinded paragraphs anymore. It's an insult to even have to prove myself as your crypto upperclassman. But I do it so the Somalis on this site who have "internal sight" will be able to discern who is right and who is full of shit. Let the future prove the past. Goodluck Amun I gotta go study

 

[dr.leorio]

@dr.leorio you're making this way too tribal.


Many cryptos have 10x to even 50x while XRP was hovering at 20-30 cents the past couple years.

XRP was my first crypto purchase 3 years ago but I quickly moved on. This was you 3 years ago at $1, it's 1.38 today.
View attachment 179363

No need to shill one for all these years, let's be rational and not make these cryptos into a religion.

Sxb you're talking to a guy who bought XRP @ .006. Global adoption is around the corner for this coin. It will be the standard because I know and have done the research. Please remind me about my tribalism this time next year.

 

[Apollo]

@Apollo
That's why I mentioned earlier that the 50billion XRP in escrow will be given to the Fed or IMF. That's what the SEC lawsuit is really about. Once the escrow transfer happens, please stop saying XRP is centralized. And btw even if Ripple "owns" the preallocated XRP in escrow and decided to turn off all their validator nodes today, XRP will still be transferrable fungible asset that still works. That is the definition of decentralization Amun.

Zero evidence that this is going to happen, just wishful thinking on your part. The SEC is going after them because how centralized the Ripple/XRP system is and how it resembles an illegal unregistered security.

The Fed/IMF/SEC wanting their coins is some delusional Q-Anon level bullshit.

Jed Mccalab was kicked out of Ripple labs because he had a different vision for crypto so he started XLM. He has been selling XRP for the past 2years and will be finished selling on June 2021 by the current rate. He was forced to sell his billions of XRP due to the lawsuit he had with Ripple. I'm not sure why you're conflating the two.

XRP was not launched in a fair way and this already killed it from day one.

Africa's poor cannot use BTC and Ether due to the costs of transferring and energy consumption. Right now, Bitcoin uses more energy per year than the country of Switzerland. That's completely unsustainable and not practical. And the lightening liquid network bullshit developers have been working on for BTC has done nothing so far. The coin is a dinosaur.

Liquid network, Ethereum 2.0. As for the energy consumption, most miners are located near cheap energy sources like dams. It is a moot point.

Hahaha do you even understand how communism works? If China decides to pull the plug. They will kill that shit in less than 1 hour. No ifs ands or buts. And I don't believe most of BTC miners are entrepreneurs or outside the country. Please provide a source for your misinformation.

There are various ways they can prevent this. Google is your friend, I am not going to debate the technical nitty-gritty of BTC mining.

You call it gambling when I've done 3+ years of research on crypto and have been in the space since 2015. I honestly don't need to reply to your longwinded paragraphs anymore. It's an insult to even have to prove myself as your crypto upperclassman. But I do it so the Somalis on this site who have "internal sight" will be able to discern who is right and who is full of shit. Let the future prove the past. Goodluck Amun I gotta go study

You can't trade at all, that is why you are all-in XRP only. If you were a rational and good trader one would much rather own many of the other better performing and lower risk coins.

Gambling =/= Investing/Trading

 

[المهندس]

@Apollo
That's why I mentioned earlier that the 50billion XRP in escrow will be given to the Fed or IMF. That's what the SEC lawsuit is really about. Once the escrow transfer happens, please stop saying XRP is centralized. And btw even if Ripple "owns" the preallocated XRP in escrow and decided to turn off all their validator nodes today, XRP will still be transferrable fungible asset that still works. That is the definition of decentralization Amun.

Jed Mccalab was kicked out of Ripple labs because he had a different vision for crypto so he started XLM. He has been selling XRP for the past 2years and will be finished selling on June 2021 by the current rate. He was forced to sell his billions of XRP due to the lawsuit he had with Ripple. I'm not sure why you're conflating the two.

Africa's poor cannot use BTC and Ether due to the costs of transferring and energy consumption. Right now, Bitcoin uses more energy per year than the country of Switzerland. That's completely unsustainable and not practical. And the lightening liquid network bullshit developers have been working on for BTC has done nothing so far. The coin is a dinosaur.

Bitcoin had first movers advantage and I'm grateful for it. I've made a lot of money off the orange fool. But like Myspace, it will be irrelevant in the longterm.

Hahaha do you even understand how communism works? If China decides to pull the plug. They will kill that shit in less than 1 hour. No ifs ands or buts. And I don't believe most of BTC miners are entrepreneurs or outside the country. Please provide a source for your misinformation.

You call it gambling when I've done 3+ years of research on crypto and have been in the space since 2015. I honestly don't need to reply to your longwinded paragraphs anymore. It's an insult to even have to prove myself as your crypto upperclassman. But I do it so the Somalis on this site who have "internal sight" will be able to discern who is right and who is full of shit. Let the future prove the past. Goodluck Amun I gotta go study

Like Myspace

 

[Apollo]

Like Myspace

Money requires trust to build up over a long time, it took over a decade before Wall Street finally started investing large amounts into BTC and taking it seriously. It only really happened from 2020 onwards.

The comparisons to social networks is pretty stupid as the dynamics are totally different.

 

[Apollo]

It has crossed.

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But I think it will be a false positive this time, nevertheless I will keep an eye on market behavior next week.

 

[المهندس]

Settlement Is Most Likely Outcome in Ripple vs. SEC Case - Attorney

While XRP has muscled its way back into the top-four cryptoassets by market capitalization as Ripple scored an important victory in the court, the legal battle with the US Securities and Exchange Commission (SEC) is far from over and most likely will end with a settlement, per an attorney.

cryptonews.com

 

[Apollo]

Settlement Is Most Likely Outcome in Ripple vs. SEC Case - Attorney

While XRP has muscled its way back into the top-four cryptoassets by market capitalization as Ripple scored an important victory in the court, the legal battle with the US Securities and Exchange Commission (SEC) is far from over and most likely will end with a settlement, per an attorney.

cryptonews.com

We don't know that and Ripple Labs, Inc. is known to pay people to provide positive coverage for them. This company has been making billions of dollars in profit from selling their premined tokens. They can easily bribe people for PR.

Clinging on to XRP is pure gambling and hopium. It is a 50% / 50% coin flip.

Coins like Solana and VeChain have been mooning lately, no SEC risk. There is zero need to hold XRP. Not from a technological, fundamental, nor price perspective.