Official Bitcoin Thread

[onthenephs]

I think it’s just a lot of experience to write down, not being. Cryptic. There hundreds of pages many of them discussing xrp.

put simply, there are billions of xrp coins. (Market cap) Supply and demand, which is what drives up the price, will favour coins that have less supply. Unless a run so major happens that demand for xrp shoots through the roof.

a few problems with that is- the ex ceo holding millions of coins, his contract that stated he had to hold is up and he will be selling them a long the way. This can suppress demand and therefore keep price low.

 

[wr]

Only reason I'm interested in XRP is the interledger protocol.

Everyone spends too much time talking about price action. People on youtube doing daily videos on the price of their favorite coin for years. That's why there thousands of videos to soft through and hard to find any relevant information. Everyone is a fan of their favorite project but have no idea about the protocols and the utility.

Yes the founder of stellar has lots of Xrp and so does the ripple foundation. But it's designed to be burned with every transaction. But the people who all work/worked on Xrp were early bitcoin developers and the people that went on to start their own projects that focused on linking with the Xrp ledger.

Former Ripple Employees/ Collaborators

Vitalik Buterin- Ethereum
Justin Sun- Tron
Charles Hoskinson - Cardano
Jed McCaleb - Stellar
David Schwartz -Ripple CTO and early distributed computing patent holder and early bitcoin developer.


I wonder what they all learned at ripple that made them all go off and start their own projects that would link with Xrp ledger?

Also spark is an ethereum side chain of Xrp.

A lot of the Xrp hate comes from early bitcoin maximalist that we're all about using bitcoin to replace the financial system. Xrp was seen as a bankers coin because ripple the company sought out banks as it's first customers for remittance instead of anarchist on the deepweb market place. Remember occupy wall street and the 08 collapse? BTC was supposedly born out of that era. Now the same people are excited that wall street has a way to sell bitcoin and mainstream adoption. Total 180 but the distrust and anti establishment sentiment is still very much present.

Interledger Protocol for Financial Access | Ripple

Interledger Protocol (ILP) issues payments across global networks efficiently. Discover unlimited scalability, complete transaction privacy, and more now.

ripple.com

ISO 20022: Shaping the Future of Cross-Border Payments | Ripple

Ripple is the leading provider of crypto solutions for businesses. Learn how we're helping organizations of all sizes drive impact with the power of crypto.

ripple.com

 

[itshlittt]

I think it’s just a lot of experience to write down, not being. Cryptic. There hundreds of pages many of them discussing xrp.

put simply, there are billions of xrp coins. (Market cap) Supply and demand, which is what drives up the price, will favour coins that have less supply. Unless a run so major happens that demand for xrp shoots through the roof.

a few problems with that is- the ex ceo holding millions of coins, his contract that stated he had to hold is up and he will be selling them a long the way. This can suppress demand and therefore keep price low.

Fair enough, it has underperformed the past few years after reaching its ath. I can understand why people have ill feelings towards using that pov. So you think after Jed is selling is when well see price appreciation? **** that could take years

This is an entirely new asset class which regulations haven't been made clear yet. OCC said 6-8 weeks so let's see how that affects the overall space.

Excited for VET personally since that looks like it has a promising use case.

 

[wr]

Fair enough, it has underperformed the past few years after reaching its ath. I can understand why people have ill feelings towards using that pov. So you think after Jed is selling is when well see price appreciation? **** that could take years

This is an entirely new asset class which regulations haven't been made clear yet. OCC said 6-8 weeks so let's see how that affects the overall space.

Excited for VET personally since that looks like it has a promising use case.

Behind the scenes they have agreements set to liquidate his portion.
People also forget the owned Mt. Gox as well. This dude low key a secret billionaire. He also created Edonkey for the early p2p days.

The entire banking system will move from account based to wallet based. Can anyone look at the news and think of a reason why emergency regulation is set to take place in 6-8 weeks?
This supposed treasury hacks happened back this summer.

 

[itshlittt]

Only reason I'm interested in XRP is the interledger protocol.

Everyone spends too much time talking about price action. People on youtube doing daily videos on the price of their favorite coin for years. That's why there thousands of videos to soft through and hard to find any relevant information. Everyone is a fan of their favorite project but have no idea about the protocols and the utility.

Yes the founder of stellar has lots of Xrp and so does the ripple foundation. But it's designed to be burned with every transaction. But the people who all work/worked on Xrp were early bitcoin developers and the people that went on to start their own projects that focused on linking with the Xrp ledger.

Former Ripple Employees/ Collaborators

Vitalik Buterin- Ethereum
Justin Sun- Tron
Charles Hoskinson - Cardano
Jed McCaleb - Stellar
David Schwartz -Ripple CTO and early distributed computing patent holder and early bitcoin developer.


I wonder what they all learned at ripple that made them all go off and start their own projects that would link with Xrp ledger?

Also spark is an ethereum side chain of Xrp.

A lot of the Xrp hate comes from early bitcoin maximalist that we're all about using bitcoin to replace the financial system. Xrp was seen as a bankers coin because ripple the company sought out banks as it's first customers for remittance instead of anarchist on the deepweb market place. Remember occupy wall street and the 08 collapse? BTC was supposedly born out of that era. Now the same people are excited that wall street has a way to sell bitcoin and mainstream adoption. Total 180 but the distrust and anti establishment sentiment is still very much present.

Interledger Protocol for Financial Access | Ripple

Interledger Protocol (ILP) issues payments across global networks efficiently. Discover unlimited scalability, complete transaction privacy, and more now.

ripple.com

ISO 20022: Shaping the Future of Cross-Border Payments | Ripple

Ripple is the leading provider of crypto solutions for businesses. Learn how we're helping organizations of all sizes drive impact with the power of crypto.

ripple.com

I think I read somewhere that Jed selling does t affect the market like we think either. Its interesting that xrp is still holding the No.3 spot after all this negativity.

Like you said and as I earlier, it's exciting and worrisome knowing the US is now working on regulations for crypto currency. Prices are still based off speculation and the dollar losing its value. Let's see what happens when utility kicks in for these crypto currencies not named Bitcoin.

 

[wr]

Let's see what happens when utility kicks in for these crypto currencies not named Bitcoin.

Bingo. This market is all speculation and manipulation til utility kicks in.
Honestly I think it has behind the scenes.

The Xrp price keeps on glitching in the thousands of dollars on multiple exchanges. Even a couple weeks ago when it to .91 on coinbase and .78 everywhere else.

Now if you can't see the type of gains made going from .18 to .91 cents and waiting on btc to go over 20k.....

 

[itshlittt]

Behind the scenes they have agreements set to liquidate his portion.
People also forget the owned Mt. Gox as well. This dude low key a secret billionaire. He also created Edonkey for the early p2p days.

The entire banking system will move from account based to wallet based. Can anyone look at the news and think of a reason why emergency regulation is set to take place in 6-8 weeks?
This supposed treasury hacks happened back this summer.

Certainly seems like its all being rushed now. Remember when the OCC allowed banks to custody crypto back in July then we saw paypal follow that soon after.

Also when the big banks all over the world are also coming out with their own custodial services just in the past month or so, its hard to ignore that something big is in the works.

There's a lot of money to be made in the entire space, unless regulations Fs that up for a lot of these coins.

 

[itshlittt]

Choose who you listen to wisely.

Putting thousands of dollars into btc which is up 170%
Vs putting thousands of dollars into XRP which is up 128%.

Now which one makes more cents????? Lol

I initially misunderstood what you were saying here. Let's not forget xrp outperformed bitcoin during the last bull run.

 

[wr]

All good.

 

[2163O1baller90]

Just lost 500 trying to convert a coin from my coinbase wallet back into coinbase smh

 

[itshlittt]

Just lost 500 trying to convert a coin from my coinbase wallet back into coinbase smh

this is why there still isn't a lot of ppl in this space. It's still too 'complicated'.

Banks being able to custody will help with adoption into the space.

Already happening with paypal.

 

[ksteezy]

Just lost 500 trying to convert a coin from my coinbase wallet back into coinbase smh

I straight up HATE Coinbase and their fees man...**** makes no sense

 

[smedroc]

Just lost 500 trying to convert a coin from my coinbase wallet back into coinbase smh

Coinbase wallet back into coinbase?

 

[smedroc]

No lie. Everyone who is jumping back in always mentions XRP if it’s not Bitcoin . Friends, Family etc. unlike the last bull run I’m telling them to go look at YouTube.

XRP is a big cap with a low price.

Think a lot of people first coming into crypto would rather shoot for the moon and buy 1000 xrp with their $500 opposed to 0.025btc

 

[johnnyredstorm]

XRP is a big cap with a low price.

Think a lot of people first coming into crypto would rather shoot for the moon and buy 1000 xrp with their $500 opposed to 0.025btc

Ironically that $500 will be worth 10s of thousands in 10 years

 

[johnnyredstorm]

Choose who you listen to wisely.

Putting thousands of dollars into btc which is up 170%
Vs putting thousands of dollars into XRP which is up 128%.

Now which one makes more cents????? Lol

one has the smartest and richest investors in the world accumulating, the other has videos on YouTube.

 

[wr]

one has the smartest and richest investors in the world accumulating, the other has videos on YouTube.

This is the type of tribalism that's weird in the crypto space to me. If you want, one has a actual corporate structure and experienced professionals, one is a mysterious riddle with an anonymous founder. Majority of btc mining control is in China. The other is a decentralized protocol. The other has a legacy of magic internet money with first movers advantage.

Honestly buy both if you can. You don't hear about this kinda of tribalism with people buying stocks. It's funny to me.

 

[johnnyredstorm]

XRP as a trading vehicle I agree with. XRP as a $10,000 asset adopted by the IMF is stupidity.

 

[wr]

Xrp was designed for the $100 trillion dollar fx / derivatives market. And it's in the IMF documents for sure as a digital currency side by side with JP Morgan coin. I think a more reasonable price for Xrp is $50. But that's all up in the air on price.

 

[itshlittt]

This is the type of tribalism that's weird in the crypto space to me. If you want, one has a actual corporate structure and experienced professionals, one is a mysterious riddle with an anonymous founder. Majority of btc mining control is in China. The other is a decentralized protocol. The other has a legacy of magic internet money with first movers advantage.

Honestly buy both if you can. You don't hear about this kinda of tribalism with people buying stocks. It's funny to me.

its east coast vs west coast in crypto lol.

 

[sohi 23]

Xrp to $50???

Pass that.

 

[johnnyredstorm]

basic economics guys. that supply alone destroys its value. if you want a moonshot that's cheap, just look at AMP instead

 

[wr]

basic economics guys. that supply alone destroys its value. if you want a moonshot that's cheap, just look at AMP instead

How can you apply basic economics to a new asset class during a time of permanent quantative easing. Fundamentals are out the window.

People are still out her saying Xrp will never be a dollar when it was almost 4 at one point.

The tribalism is blinding.

What do you think will happen to POW tokens like bitcoin that has become one of the single most environmentally dirty and expensive forms of currency in the the current climate talks?

Even ethereum is moving away from pow and mining.

Funny how bitcoin maximalist went from down with banks to being happy about btc mainstream adoption.

What is btc you guys? Went from being a revolution and down with the banks to "store of value".

Btc is expensive, slow and not anonymous.

When crypto goes mainstream the average consumer won't know the difference.

We are all early. No one is gonna be sending money from wallet to wallet like us directly. Their banks will be the custody holder for their private keys.

 

[JL415]

How can you apply basic economics to a new asset class during a time of permanent quantative easing. Fundamentals are out the window.

People are still out her saying Xrp will never be a dollar when it was almost 4 at one point.

The tribalism is blinding.

What do you think will happen to POW tokens like bitcoin that has become one of the single most environmentally dirty and expensive forms of currency in the the current climate talks?

Even ethereum is moving away from pow and mining.

Funny how bitcoin maximalist went from down with banks to being happy about btc mainstream adoption.

What is btc you guys? Went from being a revolution and down with the banks to "store of value".

Btc is expensive, slow and not anonymous.

When crypto goes mainstream the average consumer won't know the difference.

We are all early. No one is gonna be sending money from wallet to wallet like us directly. Their banks will be the custody holder for their private keys.

Please read this. And if you still want to pump XRP, by all means.



And this:



Most of the general public fails to realize the value props BTC offers that no sh-coin does: decentralization and provable scarcity. But go ahead and own something the owners have majority stake in and no transparency around.
If your only goal is to make money, then sure, XRP will pump when BTC pumps. But I'd recommend people look at the % back to their ATH today and compare it to BTC's. Same cycle will happen to these useless coins in the next bear market.

 

[itshlittt]

Regulations coming in.