Hows Everyone Going with XRP?

GeorgeTropos on 20/07/2023 - 16:02

Hey guys, just came to say that I am happy we proved the haters wrong and now XRP will rise and rise,
I am fortunate that I put money into XRP when it was 0.68 cents and now have quite a bit of profit and expect it to rise dramatically especially with the banks and institutions looking to adopt Ripple payment processing system.

How are you guys going and did you guys manage to hold all this time or is their new people here.
Either way XRP is going to go high and is the new standard going forward.

Don't say how much XRP you have due to obvious reasons but say what sort of range you put and what sort of profits so we can get a idea of how the ozbargain community is going to be rich and lets just say people will be saying
"From rags to riches."

Financial Cryptocurrency

Comments

  • TheBilly on 20/07/2023 - 16:05
    +3

    There is nothing special about XRP as a project. The entire crypto market is up almost 100% since January. XRP just caught up.

      • TheBilly on 20/07/2023 - 16:15
        +6

        Read the Reserve Bank of Australias white paper on eAUD. Literally every reserve bank in the world is currently working on a CBDC to do exactly what Ripple does. I believe the use case for a technology like this is valid, but whether it's going to be Ripple over the other platforms that will enter the space, or are already in the space, is a long shot.

        I'm not anti crypto, I am heavily invested in crypto (pretty much my entire net worth) BUT one thing to learn is that the entire crypto market is correlated - meaning that unless bitcoin pumps, nothing else pumps. Crypto is not at the point yet where there will be a massive divergence and coins like XRP will out perform Bitcoin and Ethereum in growth.

        • Switchblade88 on 20/07/2023 - 17:27
          +3

          Osko instant transfers are used nationwide, easily understood by everyone, trustworthy and reliable. I'm a believer in blockchain as a technology but in reality, we Aussies are basically living out the dream of both reserve banks as well as the crypto proponents on a daily basis.

          (I also don't have to stress about CGT events on every single transaction…)

          • plmko on 20/07/2023 - 21:30

            @Switchblade88: Lol did you just compare Osko with Crpyto/CBDC?

            • Switchblade88 on 20/07/2023 - 22:00
              +3

              @plmko: Yes, I did compare them - your powers of deduction must be hard at work

              The fundamentals might be different but the outcome is the same for the bulk of end users. Any real world benefits of crypto for sending me funds are well met by the New Payments Platform.

              I've done more tax and KYC work for my various exchanges than I ever have for a bank account, I have less difficulty accessing my funds, and any alleged benefits of decentralisation are rather overshadowed by governments seeing everything on the blochchains anyway.

          • TheBilly on 21/07/2023 - 11:53
            -1

            @Switchblade88: I've been buying and selling crypto since 2017. The thing that bugs me about the XRP tragics is that they have been saying the exact identical same thing since 2017 / 2018. You would expect that the developers of ripple would have made progress in that time, pending the court case, but everything has been stagnant. The only thing the court case provided was clarity on their position within the market, but there was nothing stopping them from developing their technology. People who fall into the hype of XRP are just exit liquidity for the smart money. There is nothing special or outstanding about XRP that will diverge it from the rest of the crypto market or make it outperform every other shit coin 1 shit coin 2 shit coin 3 and 4.

      • vodamerc on 20/07/2023 - 19:16
        +3

        That was their spiel in 2017 and what has happened in 6 years?

        • plmko on 20/07/2023 - 21:31
          +1

          What happened is a cross-border payment company adopted it and reduced transaction costs by 70%, a major Japanese company adopted it, they beat the US regulator to redefine what crypto is.

          Yeah nothing much.

          • vodamerc on 20/07/2023 - 22:09
            +2

            @plmko: I sold xrp at $4 in 2017 so yeah, not doing much.

  • Nitrollparty on 20/07/2023 - 16:24
    +6

    its a shitcoin mate, far better projects to invest in to x100 than this crap

    • EightImmortals on 20/07/2023 - 17:10
      +1

      And yet you forgot to tell us which ones?

      • Nitrollparty on 20/07/2023 - 19:24
        -3

        id love too, but this space you need to fend for yourself

      • TheBilly on 21/07/2023 - 11:56

        If he told you, would you go and buy? Crypto is PVP. Somebody has to hold the bag when the market dumps at the top. So why would somebody divulge your crypto projects during an accumulation phase while everything is cheap.

        • EightImmortals on 21/07/2023 - 13:23
          -1

          Cos they were decent human beings?

          They must be out there somewhere right?

  • NinjaGamer on 20/07/2023 - 17:14
    +1

    Just started investing a little bit in xrp on the weekend.

  • Jimothy Wongingtons on 20/07/2023 - 17:20
    +3

    now have quite a bit of profit

    on paper yes…

  • soan papdi on 20/07/2023 - 17:39
    +1

    Anyone invested in ADA? 3rd largest market cap at one time, not sure if it will ever recover.

    • Jimothy Wongingtons on 20/07/2023 - 18:05

      Dodged a bullet with ada but got rekt by ETH, at least ETH has a chance of recovering…

    • Xistn on 21/07/2023 - 12:36

      Hold.

  • pegaxs on 20/07/2023 - 18:01
    +2

    Woooo! Bought in at $0.40 and it's currently at $1.20 :D To the moon! It's either Lamborghini or noodles…

    • brendanm on 20/07/2023 - 21:05
      +1

      Better start picking your lambo colour now

    • plmko on 20/07/2023 - 21:33

      Interesting, I think I know who you are…. :)

  • JIMB0 on 20/07/2023 - 18:11
    +3

    I'm two thirds of the way to being filthy stinking rich. It's the last part that's the hardest.

  • We Out Here on 20/07/2023 - 18:27
    +1

    waiting for the inevitable dump

    • vodamerc on 20/07/2023 - 19:18
      +1

      xrp has a track record of quickly returning to where it started lol

  • brendanm on 20/07/2023 - 21:04
    +7

    especially with the banks and institutions looking to adopt Ripple payment processing system

    Lol, they've been saying this since I had xrp 10 or so years ago.

  • ssfps on 21/07/2023 - 00:52
    +3

    It was nice when crypto tanked and crabbed and all the gamblers stopped trying to pump their shitcoins.
    Now that there has been a few small upward trends i'm starting to see more idiots POOMPing again.

    • techlead on 21/07/2023 - 20:07
      +1

      You see this mentality in other asset classes too, like shares and properties. When prices fall, no one talks about it, when it pumps, everyone is crowing about their gains.

      Crypto is no different.

  • EightImmortals on 21/07/2023 - 07:42
    -1

    Just looking through my records and I bought back in 2017 for 30c then some more in 2018 at 45c then some later on that year for 5c lols. Just dribs and drabs though, should have bought in similar quantities to all my duds.

  • Benno007 on 21/07/2023 - 08:23

    I bought some at 33c, not enough to make heaps of money off but wow didn’t know it was over $1 again lol

  • isthatallyougot on 21/07/2023 - 09:11
    +3

    "Expect it to rise dramatically especially with the banks and institutions looking to adopt Ripple payment processing system."

    The BS people spout when talking about XRP. Why would the price of a sh!tcoin increase if banks adopt the Ripple as payment processing system ?

    Its like saying that SWIFT gains value everytime a bank sends a payment instruction out.

    XRP is nothing a but a crapcoin owned by a company looking to do payment transfers via blockchain.

    The beauty of blockchain is that any bank can form a consortium and create their own payment system. Why would they want to use Ripple ?

    Case in point " https://www.forbes.com/sites/emilymason/2022/10/11/jp-morgan…

    • Ghost47 on 21/07/2023 - 17:14
      +1

      The BS people spout when talking about XRP crypto.

      FTFY.

      It's all just a huge scam. Look at any alt coin chart and they all look exactly the same, i.e. price is low for a while then spikes massively (due to obvious pump and dump after some marketing campaigns) then crashes massively. Every single coin.

      And as you mentioned, it's the tech behind it not the currency itself that is valuable.

      No one even knows who created Bitcoin (Satoshi Nakamoto is a pseudonym), what other inventions exist out there that changed the world that no one knows the identity of who created it?

      • techlead on 21/07/2023 - 20:13
        +1

        No one even knows who created Bitcoin (Satoshi Nakamoto is a pseudonym), what other inventions exist out there that changed the world that no one knows the identity of who created it?

        There are plenty, especially in the world of academia, research and computer code. Just because Satoshi Nakamoto hasn't been unmasked yet, doesn't mean he/she do not exist, it could even be a group of people.

        We have many other examples of unknown people with great ideas in the world of academia, where at the time of their ground breaking discovery or invention, they choose to remain in the shadows.
        For example, the person who developed the t-test and t distribution used in statistics published his work under the name "Student". It was revealed to be William Sealy Gosset later on.

        Just because Satoshi wants to remain in the shadows doesn't make Bitcoin bad. Bitcoin's code is open source, anyone can check it out at any time, its the ultimate transparency, that's why people trust it, there's no back door which creates Bitcoins, we can easily verify the limit, everything is out in the open.

        It's all just a huge scam

        Please elaborate on this "scam"

        And as you mentioned, it's the tech behind it not the currency itself that is valuable.

        This is incorrect, what makes Bitcoin valuable, are the developers and the trust its users have in the network. You can create a Bitcoin clone right now in under 10 mins, but you cannot clone the thousands of developers working on the BItcoin network and the millions of people who trust it. No one is going to trust your Bitcoin clone, hence it has no value, you can mine millions of your clone BTC, no one will accept it. When they do, it will start to have value, like the very first BTC transaction, 10k BTC for 2 pizzas. That's the first recorded BTC transaction, that's when it started having value.

        • ssfps on 21/07/2023 - 20:35

          Please elaborate on this "scam"

          ez
          1) zero-sum
          2) mania phases linked to marketing
          3) the technology is complex enough that it serves to obfuscate the truth from the majority of "investors"
          4) (almost) zero actual utility after 10 years of being mainstream, and no real prospect of ever becoming useful for anything

          cue responses of either
          - you're wrong <my shitcoin> is going to revolutionise <x>
          or
          - yeah but who cares it's digital gold and i made big gains on dogbonkcoin420x

          • techlead on 21/07/2023 - 20:43
            +1

            @ssfps: 1) Spot crypto is no more zero sum than the share or property market. Already extensively discussed in my other posts about Bitcoin.
            2) Who is responsible for marketing Bitcoin? This is true of some of the alts, but not true of the entire crypto market. ETH isn't marketed very extensively now, they have become big enough.
            3) It may be complex to you, but its not to thousands even millions. I've read the whitepaper from Satoshi and I fully understand how Bitcoin works. Bitcoin code is open source, smarter people than me have gone over it and didn't find any back doors or malicious sections of code.
            4) Another topic extensively discussed in my other posts, Bitcoin is a godsend for some countries with crazy inflation and unstable currencies. You can read about what it means for those people here, https://bitcoinmagazine.com/check-your-financial-privilege. Check your financial privilege, just because we have the luxury of a stable political system and currency, doesn't mean crypto is not useful for other people in the world

            You missed some other debunked talking points so I have added them for you:
            5) Used by criminals - criminals are gonna crime. Drug trade still predominantly uses cash. So ban cash?
            6) Ponzi scheme - Who's at the tippy top of the pyramid? Satoshi? He hasn't moved his coins at all, this is a weird Ponzi lol.

            • ssfps on 21/07/2023 - 22:10
              +1

              @techlead: All your posts are huge copes.
              I remember you posting at the last crypto uptick a few months ago that it was about to go on a huge bull run again (with a massive tl;dr of analysis backing it up), then it crabbed for 3 months. you've got NFI and gamble like everybody else, but you go on these long rants trying to obfuscate the bullshit.

              It may be complex to you, but its not to thousands even millions.

              I didn't say it was complex to me, but the majority of "investors" are not programmers nor mathematically inclined. Even if they were (which they aren't), none of them understand the application (as there are none, aside tautologically as an inefficient ledger for currency).

              • techlead on 21/07/2023 - 22:21
                +1

                @ssfps:

                I remember you posting at the last crypto uptick a few months ago that it was about to go on a huge bull run again (with a massive tl;dr of analysis backing it up)

                The next bull run will occur, there's no doubt about it. It may line up with the Bitcoin halvening in 2024, of course if I knew the future, I'd be richer than Elon.

                I didn't say it was complex to me, but the majority of "investors" are not programmers nor mathematically inclined

                This goes for any asset class, it doesn't make it a scam. There are so many people who have no idea how mortgages work and are "surprised" when their mortgage payments have doubled in 12 months. Does that make property as an asset class a scam? Just because some people may not be financially, mathematically, programmatically inclined, doesn't make the asset class a "scam".

                • ssfps on 21/07/2023 - 22:34

                  @techlead:

                  The next bull run will occur, there's no doubt about it.

                  Haha, of course it will, but it didn't happen when you said it was going to. (You said it was happening as part of that uptick).

                  This goes for any asset class

                  No, it doesn't. Conflating the core reality of the "asset" with the finer points of managing it is bullshit. Crypto is easily the most complex - the vast majority of investors have no idea how blockchain works - or even what it does - beyond slick graphics and a few abstract talking points. It's all completely abstract and ungrounded. They may as well be watching swordfish.
                  OTOH, everybody knows what land is, what a house is, what stocks are, what tulips are, etc.

        • Ghost47 on 21/07/2023 - 21:04

          We have many other examples of unknown people with great ideas in the world of academia, where at the time of their ground breaking discovery or invention, they choose to remain in the shadows.

          If I google "Who invented the nuclear bomb?" or " Who invented the television?" or "Who invented the light bulb?" I will be easily able to determine who the inventor is. These inventions have all had a profound impact on humanity. Bitcoin is no different in terms of its reach, ask 100 people on the street and the majority will probably have heard of it. The fact that the creators of Bitcoin haven't released any statement simply advising why they choose to be anonymous (e.g. they don't want to be hassled with the fame) is strange behaviour.

          For example, the person who developed the t-test and t distribution used in statistics published his work under the name "Student". It was revealed to be William Sealy Gosset later on.

          If you go out and survey 100 people and ask them if they know what the t-test is, I would say many people won't or haven't heard of it. I don't deny that the t-test and t-distribution and statistics have changed the world, but my point was related to more commonly known inventions like what I mentioned above. I should say "mainstream" inventions.

          Please elaborate on this "scam"

          What do the all-time charts have in common for all these coins (you may need to click "All)?

          https://coinmarketcap.com/currencies/kadena/
          https://coinmarketcap.com/currencies/ethereum/
          https://coinmarketcap.com/currencies/bitcoin/
          https://coinmarketcap.com/currencies/dogecoin/
          https://coinmarketcap.com/currencies/shiba-inu/
          https://coinmarketcap.com/currencies/kava/
          https://coinmarketcap.com/currencies/loopring/

          They all follow a very similar (if not the exact same) trend, the price starts off low and then suddenly out of nowhere there's a massive spike and then crash, i.e. they reflect a typical pump and dump chart. I don't think you can deny that crypto in general is extremely shady when the charts are all so similar. This is just a handful of crytocurrencies too, look up more and they'll most likely show the same long term trend. It makes absolutely no sense why they would look the same except for the fact that they are actually just scams.

          No one is going to trust your Bitcoin clone, hence it has no value, you can mine millions of your clone BTC, no one will accept it.

          Yet there are so many alt coins out there that seemingly have value? That's the modus operandi of alt coin creators, they create their crypto (whether a Bitcoin clone or not), pump it through word of mouth and then dump it when it moons. I would actually say that the success rate is pretty high of scamming people by creating a cryptocurrency. Just look at all the alt coins out there.

          When they do, it will start to have value, like the very first BTC transaction, 10k BTC for 2 pizzas.

          I guess this point goes back to the question of "what is value?" If I had a pink feather (which was of no value to me) and the pizza guy wanted a pink feather as it was valuable to him, I could trade that pink feather for a pizza. In that case it's a win-win situation as we both get something we value. In the case of crypto, people trade their fiat money (which they trade their time and skills for) for cryptocurrency because they think it's valuable (although let's just admit they really just want to get rich quick) and that they'll be able to sell it later down the track for 1000x what they bought it for (funnily enough back to fiat money). The thing is, they're on the wrong side of the trade. What you want to do is be on the other side, selling your crypto to people and taking their money (i.e. scamming them).

          Either way, my stance on crypto being a scam won't change. If Bitcoin or crypto in general become mainstream and people start using it to buy goods and services I'll happily eat my words. You can come back to this comment and make fun of me too, I won't mind. I'll be blown away at how wrong I was and probably kick myself for being so silly at not believing in crypto that's for sure.

          • techlead on 21/07/2023 - 22:25

            @Ghost47: The creator of Bitcoin do not matter, there is absolute transparency with Bitcoin, the code is all open source, out in the open. Also, developers have been making changes to the Bitcoin code and network, it is not the same as the one launched in 2009 by Satoshi. So the fact that we don't know his/her true identity, doesn't matter, its a decentralised network, improvements have been implemented with consensus from all participants.

            As for your own views, it really doesn't affect me one way or the other. I just enjoy sharing my journey, which started with me thinking exactly the same as you back in 2009. I thought it was a scam, its never going to work, but I looked further into it and changed my mind in 2013. I'm very happy I did, I can now retire from that decision. I don't care about crazy property prices or inflation, I can buy properties outright with no mortgage, no need to ask a bank for permission and Bitcoin and other cryptos enabled me to be in this position.

            • Ghost47 on 21/07/2023 - 23:22

              @techlead: Well if you’ve made money off it I’m not surprised you’d spruik it. Good for you, but a lot of people who make money off crypto have made their wealth by essentially taking people’s money by giving them worthless assets in return.

              • techlead on 22/07/2023 - 00:35

                @Ghost47: Worthless is relative. $30k USD is worthless?

                Or did you mean worth less, in which case most assets are in the same boat. Tesla, Amazon, most shares fell since their highs. Even property, those who bought in 2021 and 2022 would have a property that is worth less right now. What's your point?

                • Ghost47 on 22/07/2023 - 02:28
                  +1

                  @techlead: $30k USD isn't worthless because it's fiat money. Bitcoin isn't fiat money. If I had to choose between $30k USD worth of gold bars (i.e. precious metal) or crypto I would take the gold bars. If I had to choose between $30k USD worth of shares (i.e. part ownership of companies) and $30k USD worth of Bitcoin I would choose shares. Both gold and shares are seen worldwide as valuable. Bitcoin may be seen as valuable, whether it is objectively is another question.

                  The bitcoin.org website says this:

                  Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.

                  I interpret this as saying "Bitcoin miners collect new bitcoins by processing transactions and securing the network". So bitcoins are essentially just receipts/rewards for a processed transaction on the blockchain (correct me if I'm wrong). Uh, is that it? How does that make them worth anything? Is my PDF invoice from Catch of the Day worth anything?

                  The bitcoin.org website also says this:

                  Why do bitcoins have value?

                  Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Bitcoin is backed by mathematics. With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment.

                  Sounds like someone who doesn't know much about Bitcoin wrote some pretty sales-y stuff to try and spruik it and tried to apply fundamentals of money to Bitcoin. It's quite laughable how absurdly simple the text is, especially compared to the descriptions of alt coins I've read. It reads like a 16 year old wrote it. Note the last line in particular:

                  bitcoin's value comes only and directly from people willing to accept them as payment.

                  This is why crypto bros always say "fiat money is obsolete!" because they're trying to push mass adoption of Bitcoin which would make it valuable.

                  If the world overnight stopped using all fiat money and only a small population (let's say millions of people because the world population is in the billions) held Bitcoin there's no way in hell governments across the world would approve Bitcoin as the official global currency (unless of course the politicians held the majority).

                  I would say that humans are quite gullible and when it comes to building wealth, psychology has a large part to play. I mean, there was a time when Beanie Babies were selling for thousands of dollars. Also tulip mania (obvious one). It's funny what people do in the pursuit to get rich quick. Anyway, the reality is that you like Bitcoin so much is because you bought it when it was 1/1000th of the price it is now (guessing). It's made you rich, of course you like it even though it's all mumbo jumbo. You don't really need to convince yourself it's worth anything, you won't convince me but I don't doubt there's a fool out there willing to buy it from you.

  • AlienC on 21/07/2023 - 19:44

    (profanity) crypto unless it's in dmz

  • tomclancy on 23/07/2023 - 09:42
    +1

    Hey OP, thanks for writing this post signalling the top. I've made a killing shorting XRP after you posted this. Should send some profits your way to thank you. Have a great Sunday, I know I will!!!

    • TheBilly on 25/07/2023 - 17:29
      +1

      LOL

    • tomclancy on 03/08/2023 - 22:28

      Update: closed my short position today. USD0.84 to USD0.66 with 50x leverage = 1300% profit. Many thanks again OP!

  • IMadeYouReadThis on 26/07/2023 - 11:21

    I bought them in 2017 when they were 35 cents (AUD) and sold most of them at $3.90 in 2018. I have a small amount now and not looking to sell - just HODL and die with it I guess lol

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