Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
I don't think enough people realize how important the circulating supply is when investing. If a coin has over a billion in supply it should be treated as nothing but a pump and dump. So let's take a coin like Doge which has a supply of over 109billion, this coin is really cheap but you should never expect it ever hit $1 strictly because that would put its market cap at over 109billion making it more valuable than Bitcoin which is currently at only 32billion,hell that make them as valuable as Google.
So just be careful when investing in cheap coins and temper your expectations.
So just be careful when investing in cheap coins and temper your expectations.
That shit is just like damn Litecoin and that segwit shit aint shit pump. The FOMO and FUD thats pushed on the trollbox and twitter is pointless to follow. I aint no expert never claimed to be but I can say shit I held from January moved and shit I got 23 BTC of bullshit emc2. So all that shit coins will move this week and that week nah miss me with that shit. Buy low and sell high plain and simple...
I'm glad I cashed out some when I did....but I bought in when it was like .005 so I still wish I had bought more.
And Im keep it an extra buck with you. I bought DGB at .00000017 and sold a majority of the shit to leave me with about 20k so shit anything I get from it now is just gravy. So yeah buy now and hold it will be fruitful in the future is all im saying...
The consensus is Banks aren't using it. The recent high was due to one of the founders dumping and honestly should be treated as a pump and dump and not the long term hold we envisioned
?????????????????????
the "recent" consensus is banks don't have to use it...not necessarily that they won't...and if you're talking about mccaleb...again it's already been discussed that legally he could not just dump all his XRP like that...all of this has been discussed months back and for w/e reason is being recycled in this thread as "recent" news or developments
So when are you dumping your XRP ?
After the June lock up
It will be interesting to hear @Mr. Wyckoff take on this tomorrow. I'm more optimistic XRP will take off but then again I bought in really low. And I don't think Ledger would add support if it XRP is just a pump and dump.
Also look at it from Ripple's point of view. They are trying hard to convince Banks to use XRP (or they were) how much do you think they'd allow XRP to grow all the while being attractive to bank that has NO obligation to use it. It would be in ripple's best interest to keep the price as low as possible. Remember it's centralized.
I expect a boost after the lock up but after that I'm out.
I expect a boost after the lock up but after that I'm out.
When you say take off, where do you as an investor see XRP landing price wise?
right...the sky is falling rhetoric in here is literally coming from ppl who sold off far too early before it hit its run or those who missed jumping in @ 'ground zero' and now feel 'vindicated'...I'll admit the little run heightened/quickened expectations...but from what was discussed earlier in the thread as far as realistic expectations go...it is still on course
I'm about as green as it gets when it comes to investing but do you meab price wise this year? Next year? Or 3 years
What June lock up?
of the XRP (around 60 billion) owned by ripple
Yeah, what's the highest price you see XRP reaching?
If that's the same $14B 55B XRP lockup that was confirmed by Brad Garlinghouse, then the ECD is by the end of the year.
I have not read anything about it happening in June.
Garlinghouse said by the end of the year. I can not find an interview/quote where he specified a date.
Unless you bought some at the end of April until now I think everyone profited majorly with XRP. I think now it's about holding or not
Then whenever that date is. I admit I'm a lil confused about the supply. If it's not the circulating supply, that would mind if bother me.
no worries.In my opinion, the lock up should not affect the price as it has nothing to do with market capitalization for it does not affect the already circulating supply of 38B XRP (I've discussed this the thread the day this story dropped).
However, what it should do is quell the concerns of investors who worried that Ripple would dump billions of XRP onto the market. Whatever their end goal was to roll all this out before Consensus, seems to not hold much weight if you ask the skeptics.
I do think it will be over a dollar at some point. Sooner rather than later.
In my opinion, the lock up should not affect the price as it has nothing to do with market capitalization for it does not affect the already circulating supply of 38B XRP (I've discussed this the thread the day this story dropped).
However, what it should do is quell the concerns of investors who worried that Ripple would dump billions of XRP onto the market. Whatever their end goal was to roll all this out before Consensus, seems to not hold much weight if you ask the skeptics.
I suspect the official announcement of the lockup may have turned ppl off from XRP bcuz one of the main debates we had in here much earlier was what was ripples intention w/ the XRP reserve they had...was it to make themselves billionaires in the end if the value of XRP went up or was it to control the circulating supply...I don't think dumping an excessive amount of ripple into the circulating supply was a sincere fear bcuz that would hurt them as was almost the case when mccaleb threatened to dump his XRP which they fought in court...announcing the lockup makes it 1000% clear what their intentions are = ripple > XRP meaning they're behind the system more so than the currency...there was enough info to point to that prior to the lockout but now there is absolutely no question of it
I'm noticing this as well. Most of us got in when it was under a penny so we are still way up as far as profit. I was on xrp chat earlier and noticed the same vibes. It seems to be a alot of "xrp is done" talk going on. I really think it's the folks that bought high but who knows this is a crazy market but I'm holding.
Shit a dollar would be great for most of us
it all depends on folks plan...so everyone will feel differently about it...some are looking to pay bills...some are looking to generate college tuition for their children...some are looking to get rich...then you have to factor in how much $$$ ppl are playing w/ so everyone is gonna have their take on how to get to their end goal and if continuing w/ XRP is the best chance @ doing so
there are about 38 billion XRP circulating that can be used right now...ripple has about an additional 60 billion XRP that they are currently sitting on...ppl were wondering why...were they gonna cash in on that supply...flood the market w/ it to suppress the price etc...ripple announced that they are contractually going to lock down the XRP in their possession...and they can release specified amounts into the circulating supply @ specific intervals to build "trust" and alleviate fears that they'd flood the market w/ XRP which was an irrational fear imo...this also shows that they're not hoarding XRP for profit and the price of XRP is irrelevant to them...it's about the ripple system...and I can honestly see how that could turn ppl off from XRP
Recovery Nears
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860 Total shares
In a period of seven days, Bitcoin price surged from $1,900 to $2,700. In some regions such as South Korea, Bitcoin was being traded at around $4,000. Analysts predicted that a bubble was imminent and that a correction would have to occur.
On May 27, Bitcoin price declined by $500 from $2,500 to $2,000, recording its first sharp since the beginning of May. The next day, it continued to fall.
Over the past month, Bitcoin investors and traders have enjoyed the meteoric rise in Bitcoin price. Based on global average price provided by several cryptocurrency market data providers, Bitcoin price increased twice: from the $1,300 region to $2,700 at its peak. On a monthly basis, Bitcoin has recorded a 35 percent gain.
Based on various measures, including demand from investors, trading volume, an irregular increase in price and search trends, analysts including angel Bitcoin investor Trace Mayer predicted Bitcoin’s fourth bubble earlier this week.
James Wang, an analyst at ARK Invest and former researcher at Nvidia, also raised a similar point to Mayer, expressing his concern over a bubble building up in the global cryptocurrency market.
Wang explained that Bitcoin’s recent price surge to the $2,500 region also led to 10x gains for alternative cryptocurrencies (altcoins), which encouraged casual traders and investors to enter the cryptocurrency market.
Early sellers
Wang explained:
“Seeing that Bitcoin has crossed $2,500 and other tokens have gone up 10x, every aunt, uncle, and teenager rushes in, pushing total crypto market valuation over $100 bln. As optimism reaches fever pitch, the smart money exits. With new buyers exhausted, the markets unravel faster than non-nitrous oxide establish foam.”
However, Wang’s description of early sellers of Bitcoin as “smart money” is inaccurate. As Koji Higashi, a Japan-based analyst and IndieSquare co-founder previously explained, “not-so-smart” money has fueled both Bitcoin and altcoins in Japan, South Korea and other regions.
Altcoin bubble
Investors who have entered the cryptocurrency market for short-term gains shouldn’t necessarily be described as “smart money” and smart investors.
“Newly entering Japanese investors are driving this great altcoin bubble and not-so-smart money is flowing into space especially into some altcoins at a rather concerning rate,” said Higashi.
As it did in 2013 and during three other bubbles, Bitcoin price will likely recover soon. In 2013, it took a period of five to six days for Bitcoin to recover
27103 Total views
860 Total shares
In a period of seven days, Bitcoin price surged from $1,900 to $2,700. In some regions such as South Korea, Bitcoin was being traded at around $4,000. Analysts predicted that a bubble was imminent and that a correction would have to occur.
On May 27, Bitcoin price declined by $500 from $2,500 to $2,000, recording its first sharp since the beginning of May. The next day, it continued to fall.
Over the past month, Bitcoin investors and traders have enjoyed the meteoric rise in Bitcoin price. Based on global average price provided by several cryptocurrency market data providers, Bitcoin price increased twice: from the $1,300 region to $2,700 at its peak. On a monthly basis, Bitcoin has recorded a 35 percent gain.
Based on various measures, including demand from investors, trading volume, an irregular increase in price and search trends, analysts including angel Bitcoin investor Trace Mayer predicted Bitcoin’s fourth bubble earlier this week.
James Wang, an analyst at ARK Invest and former researcher at Nvidia, also raised a similar point to Mayer, expressing his concern over a bubble building up in the global cryptocurrency market.
Wang explained that Bitcoin’s recent price surge to the $2,500 region also led to 10x gains for alternative cryptocurrencies (altcoins), which encouraged casual traders and investors to enter the cryptocurrency market.
Early sellers
Wang explained:
“Seeing that Bitcoin has crossed $2,500 and other tokens have gone up 10x, every aunt, uncle, and teenager rushes in, pushing total crypto market valuation over $100 bln. As optimism reaches fever pitch, the smart money exits. With new buyers exhausted, the markets unravel faster than non-nitrous oxide establish foam.”
However, Wang’s description of early sellers of Bitcoin as “smart money” is inaccurate. As Koji Higashi, a Japan-based analyst and IndieSquare co-founder previously explained, “not-so-smart” money has fueled both Bitcoin and altcoins in Japan, South Korea and other regions.
Altcoin bubble
Investors who have entered the cryptocurrency market for short-term gains shouldn’t necessarily be described as “smart money” and smart investors.
“Newly entering Japanese investors are driving this great altcoin bubble and not-so-smart money is flowing into space especially into some altcoins at a rather concerning rate,” said Higashi.
As it did in 2013 and during three other bubbles, Bitcoin price will likely recover soon. In 2013, it took a period of five to six days for Bitcoin to recover
ahhhhhh ok cool....I'm trying to get my buy on with this crypto game but gawdammmmm fam...between coinbase, bitstamp, bittrex they got a brotha waiting for fucking forever to get access so I can do something......Silver lining is that XRP has fallen so I will "hopefully" get a better deal by the time I can actually make a purchase...
Anyone ever move STEEM from Polo to Bittrex. It looks very confusing, on Bittrex it looks like the memo is where the address should be?
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