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Official BGOL Crypto Currency Thread ★★★★★

3rd__Optic said:
Have you been watching this news about Ripple and xRapid? I'm grabbing more Ripple next week just to have in case this thing blows up.

click here >> Ripple / xRapid << click here

Source: Unsplash

Opinion: Recently, the XRP Community is divided among the lines of those who believe in a theory and those who don’t. The theory in question is whether XRP will reach $589 in price before the end of the year. Perpetuated by a party known as Bearableguy123, this prediction has divided the previously united XRP Community over arguments of whether it will happen or not..........
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Day_Carver said:
:eek2::eek:Man listen...............
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darius_janus said:
Damn that's crazy!
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https://ambcrypto.com/xrp-surges-by...ious-wallet-movement-hints-at-xrapid-testing/
XRP surges by 59% with 10x volume increase; suspicious wallet movement hints at xRapid testing
IMG_0781-80x80.jpg



Published

2 days ago
on

September 21, 2018
By

Anirudh VK
iyan-kurnia-539716-unsplash-e1537513691549.jpg

Source: Unsplash


Opinion: The price of XRP has been on a tear ever since Ripple announced that xRapid is slated to launch next month. However, a closer look at the XRP Ledger reveals details that may be indicative of xRapid testing.

Over the past 24 hours, the price of XRP has gone up by a whopping 59% accompanied by a rise in the volume over the week from around the $300 million to over $2.6 billion to mark a 10x increase.

There is a very tight correlation between the trading volume and the price, and the former seems to be leading the latter. The market capitalization of XRP is also drawing closer to Ethereum’s, with a mere $2 billion difference between the two.

Screenshot_2018-09-21-Live-Coin-Watch1-1.png

7-day XRP price graph | Source: LiveCoinWatch

The rally began with the news of xRapid going live next month as mentioned by Sagar Sarbhai, an executive at Ripple. To understand what xRapid going live means for XRP, it is important to take a deeper look into how it works.

xRapid is Ripple’s offering that allows for real-time cross-border settlement by utilizing XRP as a bridge currency. For example, in a transfer worth $100 million from Japanese Yen [JPY] to US Dollar [USD], the sender’s funds are sent to an exchange.

There, the $100 million is exchanged for XRP at market price and then sent on the XRP Ledger to a wallet belonging to an exchange on the receiver’s end. XRP is sold for $100 million and then sent on local payment rails to the receiver.

In this transaction, the reflected market volume for XRP will be $200 million, as the $100 million is sent and received on each of the exchanges.

The entire process takes anywhere from 3-7 minutes, depending on the local payment rails of the sending and receiving parties. The part of the transaction that takes place on the XRP Ledger occurs in 4 seconds, eliminating almost all volatility risk of holding XRP.

Interestingly, there has been a lot of movement in exchange wallets on the XRP Ledger for transfers above 10 million XRP. This movement observed a sharp spike that correlates with the rise in the price of XRP. It is worth noting that these wallets also engaged in the accumulation of XRP prior to big movement.

Screenshot_2018-09-21-Untitled-spreadsheet-e1537513262664.png

Wallet Movement

XRP II, Ripple’s registered Money Service Business [MSB] for selling XRP to financial institutions, also features in some of these transactions. Most of the volume is also coming from Japanese exchanges such as Coincheck, Bitbank, and Coinone. Also notable is Binance’s transfer of 52 million XRP to another wallet in their possession.

The combined trading volume of these trades is 295 million over just two days. Whereas big transfers do occur on a constant basis on the XRP Ledger, a concentrated and constant movement is rarely observed. This comes up to around $100 million if the price of XRP is only $0.35, 7 cents below its current trading price.

This might be indicative of test runs for xRapid. While Ripple themselves have not revealed any news, the transparency of the XRP Ledger reveals more about xRapid than they would want to.
 
If it drops down to $0.45 I'll make a play. All this $500 is crazy talk though. People aren't doing the basic math on those numbers. Once they do they'll come down to reality. I'll be glad to make some money of the 2017 like fever though and get out before it goes to shit again. If this does launch, XRP at $1-3 quite possible. We've seen those numbers before so that's a safe call. at $100 that would put XRP's market cap alone at $3.9 Trillion! What are these muthfuckas smoking? I want some of that shit! Even with XRP's burned a 1/3 of their coins it still would be crazy

Now let's look at more realistic play like ahhh...........WGR. :D

WGR would be at $5 with just a $1Billion marketcap. Global gambling market is $500Billion and sports betting is 30-40% of that. WGR could be $50 with just 5%($10B) of the sports betting market. $1billion market cap last December was maybe putting you in the Top 50 on CMC. Think about that...

Average daily trade volume since WGR betting launched has been about$50K per day. For all of August it avg $20K per day. Trajectory is going up and the bets available are only couple a day. Yall can wait for XRP hit, but I'm putting more on my WGR bag especially with these bets.
Oh, Arsenal and Lyon wins got me looking good for today. I might put something that NE vs DET game too. :money:
 
Hey Julian! said:
If it drops down to $0.45 I'll make a play. All this $500 is crazy talk though. People aren't doing the basic math on those numbers. Once they do they'll come down to reality. I'll be glad to make some money of the 2017 like fever though and get out before it goes to shit again. If this does launch, XRP at $1-3 quite possible. We've seen those numbers before so that's a safe call. at $100 that would put XRP's market cap alone at $3.9 Trillion! What are these muthfuckas smoking? I want some of that shit! Even with XRP's burned a 1/3 of their coins it still would be crazy

Now let's look at more realistic play like ahhh...........WGR. :D

WGR would be at $5 with just a $1Billion marketcap. Global gambling market is $500Billion and sports betting is 30-40% of that. WGR could be $50 with just 5%($10B) of the sports betting market. $1billion market cap last December was maybe putting you in the Top 50 on CMC. Think about that...

Average daily trade volume since WGR betting launched has been about$50K per day. For all of August it avg $20K per day. Trajectory is going up and the bets available are only couple a day. Yall can wait for XRP hit, but I'm putting more on my WGR bag especially with these bets.
Oh, Arsenal and Lyon wins got me looking good for today. I might put something that NE vs DET game too. :money:
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so in order for wagerr to rise we need more people betting
 
Supersav said:
so in order for wagerr to rise we need more people betting
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We're already at 1.5M WGR bets placed. Remember it only reached 1M WGR bets placed on Saturday. That's another 500K WGRs bet before the weekend is even over. The volume of bets are increasing for sure.
 
Supersav said:
so in order for wagerr to rise we need more people betting
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Yes but not necessarily. The price will rise when more people buy it right? Like all other cryptos.

But the deflationary economy or value coupling they do is intended to burn a certain amount of WGR based on volume: Half of the fees are burned, if the price goes down too fast the burn rate speeds up and if the price goes up too quickly the burn rate slows down. Hence, less supply, the higher the price. However, there is a certain amount of WGR that gets minted though but as long as the burn rate continues to outpace daily minting the math will work out. Its an ingenious protocol on the blockchain if you ask me.

But evidently we need more volume (buying and betting) for the price to shoot up. At the rate we're going it will go up in due time but there isn't a huge demand for the coin right now.

 
Confucius said:
Just got my payout from Wagerr betting. I won in the NE vs DET over under. I bet under 53pts. A 50 WGR bet payed out 97 WGR
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Good for you bruh. I thought I was betting safe on the Pats and boy was I wrong.
HeathCliff said:
Yes but not necessarily. The price will rise when more people buy it right? Like all other cryptos.

But the deflationary economy or value coupling they do is intended to burn a certain amount of WGR based on volume: Half of the fees are burned, if the price goes down too fast the burn rate speeds up and if the price goes up too quickly the burn rate slows down. Hence, less supply, the higher the price. However, there is a certain amount of WGR that gets minted though but as long as the burn rate continues to outpace daily minting the math will work out. Its an ingenious protocol on the blockchain if you ask me.

But evidently we need more volume (buying and betting) for the price to shoot up. At the rate we're going it will go up in due time but there isn't a huge demand for the coin right now.

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Volume is steadily increasing. I'm watching these daily trade volumes and it's double since last weekend. first week. Weekend bet totals were about 20% higher than the first weekend.
 
Confucius said:
Just got my payout from Wagerr betting. I won in the NE vs DET over under. I bet under 53pts. A 50 WGR bet payed out 97 WGR
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I was so close to taking that triple money bet on Detroit once they ruled Gordon out. After getting lucky with the Browns and A&M +26, luck ran out last night with the Pats. Fucking wagerr wallet keep calling me. :eek: "Open me up! Come check out the action! You know Fitz can't do 3 weeks in a row! Easy money. I got you. Come on. Don't be a pussy."

I think they need to grow slowly while working out any kinks. This shit could take off way too fast if they start listing too much action. Have to get decentralization down first.
 
gene cisco said:
I was so close to taking that triple money bet on Detroit once they ruled Gordon out. After getting lucky with the Browns and A&M +26, luck ran out last night with the Pats. Fucking wagerr wallet keep calling me. :eek: "Open me up! Come check out the action! You know Fitz can't do 3 weeks in a row! Easy money. I got you. Come on. Don't be a pussy."

I think they need to grow slowly while working out any kinks. This shit could take off way too fast if they start listing too much action. Have to get decentralization down first.
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Well, it happens to be they can’t list too much action right now because they say the QT wallet, current wallet, has its limitations. The HTML5 wallet next up in the development will allow you to do all kinds of shit. No date delivery yet but its significantly better.
 
gene cisco said:
I was so close to taking that triple money bet on Detroit once they ruled Gordon out. After getting lucky with the Browns and A&M +26, luck ran out last night with the Pats. Fucking wagerr wallet keep calling me. :eek: "Open me up! Come check out the action! You know Fitz can't do 3 weeks in a row! Easy money. I got you. Come on. Don't be a pussy."

I think they need to grow slowly while working out any kinks. This shit could take off way too fast if they start listing too much action. Have to get decentralization down first.
Click to expand...
True, I think it's going to be an organic growth though, which is good. Slow and steady is the best kind of growth. The enthusiasm in Telegram and Discord for the current limited bets we can do is high. People are happy with the quick payouts and I haven't read anyone running into any hiccups with betting on the wallet. I would try the mobile wallet, but I'm IOS. I was doing some light research on API specifically for betting. I honest don't know shit about setting up an API, so I hoping the devs are currently testing API and suggesting API for Oracle masternodes. My guess is they will run a testnet for Oracle MN to run API results.
 
HeathCliff said:
Well, it happens to be they can’t list too much action right now because they say the QT wallet, current wallet, has its limitations. The HTML5 wallet next up in the development will allow you to do all kinds of shit. No date delivery yet but its significantly better.
Click to expand...

Hey Julian! said:
True, I think it's going to be an organic growth though, which is good. Slow and steady is the best kind of growth. The enthusiasm in Telegram and Discord for the current limited bets we can do is high. People are happy with the quick payouts and I haven't read anyone running into any hiccups with betting on the wallet. I would try the mobile wallet, but I'm IOS. I was doing some light research on API specifically for betting. I honest don't know shit about setting up an API, so I hoping the devs are currently testing API and suggesting API for Oracle masternodes. My guess is they will run a testnet for Oracle MN to run API results.
Click to expand...

Just seen they aren't trying to pursue exchanges and are talking about exchanges coming to them. :smh: We all know that ain't how this game works.
 
gene cisco said:
Just seen they aren't trying to pursue exchanges and are talking about exchanges coming to them. :smh: We all know that ain't how this game works.
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They are currently in negotions with a few exchanges but they’re trying to lay the groundwork with being on many many smaller exchanges to make themselves more attactive to larger ones. I’m not selling anytime soon so I’m not pressed to get on a big exchange and sell just yet.
 
gene cisco said:
Just seen they aren't trying to pursue exchanges and are talking about exchanges coming to them. :smh: We all know that ain't how this game works.
Click to expand...

HeathCliff said:
They are currently in negotions with a few exchanges but they’re trying to lay the groundwork with being on many many smaller exchanges to make themselves more attactive to larger ones. I’m not selling anytime soon so I’m not pressed to get on a big exchange and sell just yet.
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I agree with @HeathCliff on this one. Exchanges got real out of pocket with the listing fees last year because they could and it seems they're still trying to milk projects for millions to list a coin. That's more than the cost to list a stock on Wall Street which is ridiculous. Let the growth continue organically and the project get some more steam and improve. I think we can crack Top 100 on CMC and then people will take notice. That's only WGR at $0.30, not too hard based what I see. If I was a dev and I'd be telling these high fee exchange to fuck off for now too. What's the sense in spending that much of their dev budget on listing a coin unless these exchanges can guarantee a certain sustained price. It's a benefit for the exchanges too when a coin is popular so shit is two way street. I know ICO's ain't popping now so they need to humble themselves and come down on those fees. Just my two cents. Shit the most popular exchange for WGR right is Crex24 and the team didn't even request to be added there. They just added Wagerr themselves after mainnet launch.
 
HeathCliff said:
They are currently in negotions with a few exchanges but they’re trying to lay the groundwork with being on many many smaller exchanges to make themselves more attactive to larger ones. I’m not selling anytime soon so I’m not pressed to get on a big exchange and sell just yet.
Click to expand...

Hey Julian! said:
I agree with @HeathCliff on this one. Exchanges got real out of pocket with the listing fees last year because they could and it seems they're still trying to milk projects for millions to list a coin. That's more than the cost to list a stock on Wall Street which is ridiculous. Let the growth continue organically and the project get some more steam and improve. I think we can crack Top 100 on CMC and then people will take notice. That's only WGR at $0.30, not too hard based what I see. If I was a dev and I'd be telling these high fee exchange to fuck off for now too. What's the sense in spending that much of their dev budget on listing a coin unless these exchanges can guarantee a certain sustained price. It's a benefit for the exchanges too when a coin is popular so shit is two way street. I know ICO's ain't popping now so they need to humble themselves and come down on those fees. Just my two cents. Shit the most popular exchange for WGR right is Crex24 and the team didn't even request to be added there. They just added Wagerr themselves after mainnet launch.
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I don't plan on selling. Shit. I need to create a wallet for the ol' lady and transfer my shit to her so I stop gambling from the stack.

My concern is more about folks getting their hands on it so wagerr can be used. Maybe site like localbitcoins, but in an unregulated jurisdiction where folks can buy and sell wagerr. Malta anyone? lol

This is an underground token.
 
The damn Rams to win odds suck. Can't fuck with that O/U.

praetor said:
Didn't see anyone mention it yet, the SEC could postpone its decision until February.

https://www.coindesk.com/sec-seeks-more-input-as-it-weighs-vaneck-solidx-bitcoin-etf/

https://ethereumworldnews.com/breaking-news-sec-decision-on-cboes-btc-etf-postponed/
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That's was to be expected. It's clear that what's left of this will be pushed overseas. Seems like they just determined to purge the market just to prove a point. By the time they come with clear guidelines, private chains will be pushing a lot of cryptos out. :smh:
 
gene cisco said:
The damn Rams to win odds suck. Can't fuck with that O/U.


That's was to be expected. It's clear that what's left of this will be pushed overseas. Seems like they just determined to purge the market just to prove a point. By the time they come with clear guidelines, private chains will be pushing a lot of cryptos out. :smh:
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That's a tough one. I have money on USA vs EUR for the Ryder cup. I bet on USA even though they are faves. I have been tempted to try and flip this odd 9k Wagerr into another Masternode
 
Confucius said:
That's a tough one. I have money on USA vs EUR for the Ryder cup. I bet on USA even though they are faves. I have been tempted to try and flip this odd 9k Wagerr into another Masternode
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I don't know much about that Ryder cup. I'm hoping they give me the OSU game this weekend.

I just made a fun bet for a few shekels on Vikings to win. Just to keep me interested. One CB is out and the other has a fucked calf.
 
gene cisco said:
I don't know much about that Ryder cup. I'm hoping they give me the OSU game this weekend.

I just made a fun bet for a few shekels on Vikings to win. Just to keep me interested. One CB is out and the other has a fucked calf.
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I feel you on OSU. I think until they get the HTML5 wallet up and running, they won't be putting too many designer games up where the house has a huge advantage because people will be walking off like bandits. Last week they only allowed the spread of the Bama v A&M game. Just imagine if you're able to bet every Saturday that Bama will win. Sheeeiiiiiiiitttttt :itsawrap:

I'm looking forward to basketball season now. See how many games I can bet on the Warriors. lol
 

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