Topic: Speculation Rule: buy when others are irrationally pessimistic or too cautious - page 15. (Read 36099 times)

There is something very strange going on with Ripple. Its features are entirely incompatible with sound banking. So it can't be for banking. Whereas LN on Litecoin will be compatible with sound private fractional reserves in alignment with Nash's ideal money concept (with the failure mode being long-term when Bitcoin becomes controlled by one whale due to concentrating effect of fungible finance).

I wonder if Ripple is a bet on corrupt fiat system finding a way to force all public funds and banks into a system which self-destructs? Some people seem to think Ripple is more compatible with governments and laws?

I really can't find any logic in it at all except that speculators will buy anything that the other dumb speculators will associate progress even though it isn't.

I'd be very wary of holding Ripple as it appears to me to be an extremely volatile greater fool speculation (raping) tool. Ripple is having its 2nd hump adoption (similar chart pattern to LTC).

And I think that is the utility of Ripple. It is way to separate more fools from their capital. So get on board and join the musical chairs raping party. Just pray you get out in time.

Ripple Consensus Ledger (RCL) is not difficult to understand.

- RCL is about trustlines and IOUs
- Every account on RCL can issue an IOU. E.g. I can issue USD.roborovskii or EUR.roborovskii or XAU.roborovskii, basically anything except XRP which is the reserved native token.
- Another person may also issue IOUs, but theirs would be seen as USD.anotherperson, EUR.anotherperson, CNY.anotherperson, etc.
- Note that on RCL you may not see USD.anotherperson, but the actual account address (USD.rxxxxxxxxxxxxxxxxxxxxx)

- Nobody needs to trust anyone blindly. This is where trustlines come in. Trustlines are simply how much you are willing to trust another party holding an IOU for you.
- E.g. You deposit 1000 USD into bitstamp through the usual banking transaction. You NEED to set a trustline to bitstamp on RCL for at least 1000 USD, or bitstamp will not be able to credit 1000 USD.bitstamp to your RCL account.
- Once you do that, bitstamp can then send 1000 USD.bitstamp to you.
- It is a common problem that new users forget (or do not know how) to set the trustlines. They deposit the money, and wonder why they have not yet received it on RCL.

- The main misunderstanding (or ignorance) in that written piece of garbage, is that you could receive anyone's IOU (e.g. USD.scammer). This is not possible if you do not have a trustline setup to trust 'scammer'.
- E.g. If you had the 1000 USD.bitstamp deposited earlier, and you want to pay your friend through RCL 10 USD, you will NOT be able to send him the 10 USD.bitstamp if he does not have a trustline setup to bitstamp.
- Maybe he only has a trustline setup to gatehub. In this case he can ONLY receive USD.gatehub

So this problem of sending your friend USD who has a different trusted gateway; is where the magic of rippling occurs:
- On RCL there are market makers, there would be a currency (or IOU) pair that trades between USD.bitstamp and USD.gatehub.
- Ideally this would be 1:1 being the same currency, but not always. For the following example, let's say it's an ideal 1:1
- When you send your friend 10 USD.bitstamp on RCL, he would receive 10 USD.gatehub through the rippling process that the market makers help to bridge.
- If you had a friend in Japan who only trusted JPY.MrRipple, sending him 10 USD.gatehub would bring out an option for him to receive 1115 JPY.MrRipple.
- This again is bridged by market-makers trading the pair USD.gatehub : JPY.MrRipple

To sum it up, you cannot receive an IOU that you do not have a trustline setup to. What the sender CAN see are the available routes and IOUs that you can receive (that you have existing trustlines with).

The written piece is by someone who is ignorant of how RCL works, and criticizes through his boneheadedness. This is a common trait of "bitcoiners" you see on Polo and elsewhere.

Apologies for the noise. I decided to reverse this trade. I see that LTC has a wedge pattern that is rapidly closing so it should breakout to the upside. Also on study of the ETH chart, I don't like the current pattern. Its very difficult to determine at what level the firm support is for ETH.

I need to ignore the discouraging discussion with the redditards and stay focused on the economics of what I had discovered.

That cost me ~$250. Fuck.

Lesson learned. Don't waste time talking to Redditards.

My asic scrypt miners are on double rent out rates these days, a good sign that there is faith in a price rise.

Do you have no problem buying into coins that have already risen considerably?  I find that I look at LTC or XPM now and think, that has gone up and could come back down.
The way the market is now, I tend to look for what hasn't gone up recently, buy, wait and then sell.  It is obviously a game of luck, but as basically every coin has been pumped in the last few days, it is working well (primecoin was the last one for me, shame I woke up 2h after the big rise)

I guess my problem is that I am not a fan of any alts. I will happily trade them, but I don't see any true value in them.  Bitcoin on the other hand...

Apologies for the noise. I decided to reverse this trade. I see that LTC has a wedge pattern that is rapidly closing so it should breakout to the upside. Also on study of the ETH chart, I don't like the current pattern. Its very difficult to determine at what level the firm support is for ETH.

I need to ignore the discouraging discussion with the redditards and stay focused on the economics of what I had discovered.

That cost me ~$250. Fuck.

Lesson learned. Don't waste time talking to Redditards.

That cost me ~$250. Fuck.

Lesson learned. Don't waste time talking to Redditards.

Apologies for the noise. I decided to reverse this trade. I see that LTC has a wedge pattern that is rapidly closing so it should breakout to the upside. Also on study of the ETH chart, I don't like the current pattern. Its very difficult to determine at what level the firm support is for ETH.

Apologies for the noise. I decided to reverse this trade. I see that LTC has a wedge pattern that is rapidly closing so it should breakout to the upside. Also on study of the ETH chart, I don't like the current pattern. Its very difficult to determine at what level the firm support is for ETH.

I need to ignore the discouraging discussion with the redditards and stay focused on the economics of what I had discovered.

That cost me ~$250. Fuck.

Lesson learned. Don't waste time talking to Redditards.

Apologies for the noise. I decided to reverse this trade. I see that LTC has a wedge pattern that is rapidly closing so it should breakout to the upside. Also on study of the ETH chart, I don't like the current pattern. Its very difficult to determine at what level the firm support is for ETH.

I need to ignore the discouraging discussion with the redditards and stay focused on the economics of what I had discovered.

That cost me ~$250. Fuck.

Lesson learned. Don't waste time talking to Redditards.

I sold 40% of my LTC at a profit and traded back into ETH which is on significant dip. Again my thesis is Bitcoin is locked into a range below $1150ish (maybe $1200) for the time being so the wave will rotate back to ETH next. Then once ETH gets news such as the Raiden LN clone, then ETH will make a huge jump.

Waiting for more clarity on LTC. The hornet's nest of dissonance and manipulation per my prior post makes me think the rise in LTC may be quite volatile. I'll wait for clarity and potentially a better entry price. If it runs away from me, I still have a significant holding.

They changed the description of Litecoin on this community Reddit such that it no longer makes the incorrect technological claim.

ltc is actually making me emotional recently, its obviously undervalued but not exempt from manipulation.

Uh oh:

https://www.reddit.com/r/litecoin/comments/631ffe/pools_that_block_litecoin_development/dfr3weo/

Seems some people might not understand capital, game theory, economics, etc.

@dinofelis, I cited our upthread discussion in the Litecoin community. I also explained there that as a PoW coin matures it becomes much more intractable to gain consensus for significant protocol changes. Bitcoin being the dominant reserve could finance the change to the protocol of a lesser chain, if the quorum whales of Bitcoin who have any vested interest have a consensus to do such an attack. So I guess that is a clarification of my upthread claim that only the dominant PoW could be immutable. The lesser PoW chains are less immutable but the immutability game theory is still somewhat favorable.

The generative essence is that politics is a clusterfuck of inaction when it requires agreement on a single action. The only way politics functions is via debt and giving everyone everything at the same time, with no actual consensus. This was Satoshi's clever insight on how to attain immutability.

You only registered in 2016. It is quite easy to make money while bull trend lasts.

If you abided by your own advice during bear market, that is in 2013-15, you would go bankrupt. I should know, I did go bankrupt at that time.

You are a trader. I am a value investor (with a very strong technological slant).

If I disappear from speculation discussion, you'll know it is because I am head in sand on my primary vocation, although I notice I am finding it too tempting lately to go off on too many polymath-like tangents. I really need to discipline myself asap. For example, I was tempted to go off and research Ripple right now to get to the essence of it, but I decided not to.

i have been kicking myself repeatedly since trading 4 figures at 3.90 into BTC & it hasnt stopped rising!!

The Bitfinex hack overreaction was another buying opportunity.