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Reply to: Cryptocurrency

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Previously on "Cryptocurrency"

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  • TheGreenBastard
    replied
    The point is a "currency" has no intrinsic value, beyond the guarantee of face value, hence $25 won't happen, I'd even argue "can't" happen. The reason for value right now is actually because it's not really a currency with utility, it's a speculative asset.

    XRP will never be a SWIFT replacement whilst slippage can occur in the XX% range. To be even considered a replacement outside of proof-of-concept trades, XRP would have to be pegged, perhaps to a bucket of currencies (US Inc. wouldn't allow that), and at this point we have come full circle regarding "market cap".

    Leave a comment:


  • Jog On
    replied
    Originally posted by TheGreenBastard View Post

    I'm not sure why you think that. There's no intrinsic value in "currencies".

    Right now there's a circulating supply of $2.10td USD. In a hypothetical scenario of XRP becoming the currency of the US, can you argue why total value wouldn't coalesce at $2.10tn?
    Not sure how familiar you are with XRP/Ripple but points of note are:
    1. Ripple is currently defending a lawsuit from the SEC who are trying to deem XRP as a security as opposed to a currency. This is suppressing the price of XRP and if Ripple win and XRP is deemed a currency that will be very very good for Ripple/XRP. When you said "XRP is a currency" I thought you might have some insider information on the lawsuit...
    2. There's no notion of XRP replacing the USD, even if it did I'm sure there is more than 100 billion (max supply of XRP) USD in circulation
    3. Ripple and XRP are targeting cross border payments (FX transactions) so the price predictions people are coming up with are based on 'if XRP takes [x]% of SWIFT volume it will be valued at...'
    4. XRP is one of the ISO20022 cryptos which is coming into implementation pretty soon (November this year). ISO2022 is worth reading about as it's essentially money 2.0, cross border payments, CBDCs and lots of institutional/governmental implementation of blockchain tech.

    Leave a comment:


  • TheGreenBastard
    replied
    Originally posted by Jog On View Post
    If that gets proven XRP will moon further than $25
    I'm not sure why you think that. There's no intrinsic value in "currencies".

    Right now there's a circulating supply of $2.10td USD. In a hypothetical scenario of XRP becoming the currency of the US, can you argue why total value wouldn't coalesce at $2.10tn?

    Leave a comment:


  • Jog On
    replied
    Originally posted by TheGreenBastard View Post

    Even got the selling of his Edinburgh flat wrong, would have made a pretty penny renting it out and riding the property appreciation of the last few years.

    The praise he gets is merely "copium" bag holders dreaming of "x100" returns, so they promote the message.



    Can you explain / justify $25 predictions? XRP is a currency; consider the fact the circulating supply of USD is $2.10tn. A private cryptocurrency will not replace SWIFT in my opinion; it's a proof of concept of what might come, but not a replacement. Numbers do not compute, irrespective of momentary "breakout".
    If that gets proven XRP will moon further than $25

    Leave a comment:


  • TheGreenBastard
    replied
    Originally posted by Whorty View Post

    I think it's pretty clear he's not the multi-millionaire he claimed to be if he's trying to scam $100 out of gullible suckers. Given his attitude and arrogance his contracting reputation is likely shot hence why he tried trading.

    I'd feel sorry for him if it wasn't for the fact he's trying to lull others into his crap trading predictions.
    Even got the selling of his Edinburgh flat wrong, would have made a pretty penny renting it out and riding the property appreciation of the last few years.

    The praise he gets is merely "copium" bag holders dreaming of "x100" returns, so they promote the message.

    Originally posted by Jog On View Post
    Pure TA in this macro environment doesn't mean much. Recent breakout on XRP is interesting though, it's more fundamentally driven than anything else. Re the MC, a lot of people are basing it on whether it replaces SWIFT or even part of it which BTC will never do but XRP is being touted to underpin cross border payments. SEC case is getting interesting and looking like it might develop further - unless the SEC manage to delay and stall even longer. Would be interesting to look on chain and see who's buying XRP to cause it to break out like this. Is it retail or smart money?... CBA to look myself.
    Can you explain / justify $25 predictions? XRP is a currency; consider the fact the circulating supply of USD is $2.10tn. A private cryptocurrency will not replace SWIFT in my opinion; it's a proof of concept of what might come, but not a replacement. Numbers do not compute, irrespective of momentary "breakout".

    Leave a comment:


  • Jog On
    replied
    Originally posted by TheGreenBastard View Post

    Here he suggests XRP to $25: https://www.tradingview.com/chart/XR...P-going-to-25/

    That would give XRP a "market cap" of $1.2tn. Contrast that with the fact these cryptocurrencies are "coupled", i.e. if you look at the last YTD of both BTC and XRP the movements are broadly aligned. So what does $1.2tn market cap of XRP mean for BTC? Assuming the same multiplier that's $20tn+ market cap for Bitcoin. Just where is all that capital coming from at a time like this? I suspect even the US gov going all in on BTC as a currency wouldn't make it reach $20tn.
    Pure TA in this macro environment doesn't mean much. Recent breakout on XRP is interesting though, it's more fundamentally driven than anything else. Re the MC, a lot of people are basing it on whether it replaces SWIFT or even part of it which BTC will never do but XRP is being touted to underpin cross border payments. SEC case is getting interesting and looking like it might develop further - unless the SEC manage to delay and stall even longer. Would be interesting to look on chain and see who's buying XRP to cause it to break out like this. Is it retail or smart money?... CBA to look myself.

    Leave a comment:


  • Whorty
    replied
    Originally posted by TheGreenBastard View Post

    Here he suggests XRP to $25: https://www.tradingview.com/chart/XR...P-going-to-25/

    That would give XRP a "market cap" of $1.2tn. Contrast that with the fact these cryptocurrencies are "coupled", i.e. if you look at the last YTD of both BTC and XRP the movements are broadly aligned. So what does $1.2tn market cap of XRP mean for BTC? Assuming the same multiplier that's $20tn+ market cap for Bitcoin. Just where is all that capital coming from at a time like this? I suspect even the US gov going all in on BTC as a currency wouldn't make it reach $20tn.
    Just been reading some comments on his AMD prediction and he just hasn't changed. The arrogance is astonishing. I pity anyone who falls for his scamming. People like him on the internet are dangerous.

    Leave a comment:


  • Whorty
    replied
    Originally posted by TheGreenBastard View Post
    I wonder if he's still slaving away for a day rate, there's no way he trades on what he publishes, it's an objective fact you'd be ruined.
    I think it's pretty clear he's not the multi-millionaire he claimed to be if he's trying to scam $100 out of gullible suckers. Given his attitude and arrogance his contracting reputation is likely shot hence why he tried trading.

    I'd feel sorry for him if it wasn't for the fact he's trying to lull others into his crap trading predictions.

    Leave a comment:


  • Whorty
    replied
    Originally posted by TheGreenBastard View Post

    Here he suggests XRP to $25: https://www.tradingview.com/chart/XR...P-going-to-25/

    That would give XRP a "market cap" of $1.2tn. Contrast that with the fact these cryptocurrencies are "coupled", i.e. if you look at the last YTD of both BTC and XRP the movements are broadly aligned. So what does $1.2tn market cap of XRP mean for BTC? Assuming the same multiplier that's $20tn+ market cap for Bitcoin. Just where is all that capital coming from at a time like this? I suspect even the US gov going all in on BTC as a currency wouldn't make it reach $20tn.
    Yeah, but was does the crayon line on the graph say?

    Leave a comment:


  • TheGreenBastard
    replied
    Originally posted by northernladuk View Post
    I had a quick look at this ages ago. No idea what price was then but he didn't hit one single of his 'hit 10 billion by January' like no where near. On the actual price I believe it went up somewhat and then down a lot then way after he had gone it was more and now not. So technically his predictions on growth we right... but they were wrong. Depends on what timeframe. I'm sure the person he is he'll be shouting it from the roof tops when it broke above his prediction and making excuses and more predictions when it was down. All utter useless and pointless.
    Here he suggests XRP to $25: https://www.tradingview.com/chart/XR...P-going-to-25/

    That would give XRP a "market cap" of $1.2tn. Contrast that with the fact these cryptocurrencies are "coupled", i.e. if you look at the last YTD of both BTC and XRP the movements are broadly aligned. So what does $1.2tn market cap of XRP mean for BTC? Assuming the same multiplier that's $20tn+ market cap for Bitcoin. Just where is all that capital coming from at a time like this? I suspect even the US gov going all in on BTC as a currency wouldn't make it reach $20tn.

    Leave a comment:


  • northernladuk
    replied
    Originally posted by DealorNoDeal View Post
    I wonder if Scooty keeps a journal of all his predictions and how they panned out.
    I had a quick look at this ages ago. No idea what price was then but he didn't hit one single of his 'hit 10 billion by January' like no where near. On the actual price I believe it went up somewhat and then down a lot then way after he had gone it was more and now not. So technically his predictions on growth we right... but they were wrong. Depends on what timeframe. I'm sure the person he is he'll be shouting it from the roof tops when it broke above his prediction and making excuses and more predictions when it was down. All utter useless and pointless.

    Leave a comment:


  • jamesbrown
    replied
    Originally posted by TheGreenBastard View Post
    I wonder if he's still slaving away for a day rate, there's no way he trades on what he publishes, it's an objective fact you'd be ruined.
    Scootie's like all scammers, they learn quickly that the money is in fake "investment advice" and selling pap to fellow morons, not trades.

    Leave a comment:


  • TheGreenBastard
    replied
    I wonder if he's still slaving away for a day rate, there's no way he trades on what he publishes, it's an objective fact you'd be ruined.

    Leave a comment:


  • Whorty
    replied
    Originally posted by DealorNoDeal View Post

    That worked out well. Current price $19k. Highest it's been since Scooty made this prediction in July is $25k.

    https://bitcoincharts.com/charts/bit...Czm1g200zm2g25

    I miss Scooty and his predictions. He used to brighten my day, always good for a laugh.

    But as a multi-millionaire who sells bits of fluff for £100 he must be doing really well for himself

    Leave a comment:


  • DealorNoDeal
    replied
    Originally posted by AtW View Post
    "Is Bitcoin about to rally to $110-120k ??

    Very probable. In the next 6 to 9 months.

    a rally to the $48k level before September
    That worked out well. Current price $19k. Highest it's been since Scooty made this prediction in July is $25k.

    https://bitcoincharts.com/charts/bit...Czm1g200zm2g25

    Leave a comment:

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