I actually sold off all my ETH at about 88 for XRP, so that the conversion was ~$.385. I guess it was a really really terrible move. I feel quite awful about it now, as having done a bit more research it seems like more consensus is that holding long term isn't actually going to produce the gains I thought. At the time everyone was hyping "it's heading to $1!", now I feel foolish
Lots of stories like this I am sure.
every person that has hodled long term btc,eth,xrp is very happy....what do regard as long term hodlin, a few weeks?
you should forget what everyone is hyping, concentrate on the fundamentals, dev team and tech, you will be happy and not feel foolish.
i hold btc for 5yrs lol, eth for almost 2yrs lol ive only had XRP for 2months
gd luck m8 in any decision you make
The tech seems good, team seems alright, but people keep pointing out that XRP is not needed for the ripple org, and that banks can easily create their own means that hypers were previously attributing to XRPs capabilities?
I did quite well with XRP. I sold all the way up and am still holding a decent amount, but as I was buying XRP under 0.00001000 the issue that Ripple network can operate without XRP was what stopped me from loading up even more and risking too much. Plus there is a massive amount of XRP out there. For it to go to 1$ it's market cap would be insane but possible. No one know the future so let's see how XRP story plays out.
In any market, all else equal, an increase in supply increases quantity demanded and lowers the market price. So 100B xrp in existence probably means that xrp will never have a market price as high as if there were only 10B xrp in existence. 100B is a big number, depending on what you're counting. If you're counting grains of sand on the beach 100B probably wouldn't "seem" huge, for atoms, it would seem tiny, but try to put 100B elephant seals on that beach and it would almost certainly be too many. I think 100B xrp is somewhere in the middle. It is definitely a big number, but not so big as to be ridiculous. There are ~7B people in the world, so there are only 14xrp per person. There are ~14,000 banks in the world, so there are 7M xrp per bank. There are a lot of ways to look at it.
That said, I don't really think it matters how many xrp there are. The decimal point could be moved left or right and it wouldn't really change anything. Instead of 10,000xrp, I could say I have 100,000xrp10ths, or 1,000tenxrps. One aspect of the total supply that matters, or at least the unit of that total supply that we use as the standard, is how people understand big and small numbers and their relative sizes. It's much easier to understand a price of 15.75 than it is to understand a price of .000001575, or 15,750,000,00,000,000. This really only matters if the supply is for a currency used for everyday transactions. if xrp is only used for bridging business to business cross border payments, software involved won't have an issue with leading or trailing zeros.
I think the most important thing to recognize about xrp is that the market cap is already very big. It is ~$13,000,000,000. It doesn't matter how many xrp there are, but it does matter how much you have to pay for given size share of the total. In that respect, xrp is not even close to "cheap as dirt." It is one of the three or four most expensive crypto currencies already. Can the price of xrp go up, even when there are so many xrp in existence and the market cap is already Billions of dollars? Sure, it might. The more volume in cross border payments go through xrp, velocity equal, the more xrp will be worth, and cross border payments are in the trillions per year.
100B is a really big number if you're counting elephant seals on a beach, but not so big if you're counting grains of sand on that beach. If you're counting xrp, it's somewhere in the middle, and hopefully right in the goldilocks zone for the trillions of dollars of annual cross border payments. Keep in mind there are only 14 xrp per person on the planet. in the end the number of xrp doesn't really matter, what matters is how much a share of the total costs, and a share of xrp is already not exactly cheap.
If you compare Ripple with the largest market cap cryptos of Bitcoin and Ethereum (now ripple) -- you have market caps of ~ 32 Billion USD and ~11 Billion USD respectively. Ripple is at ~13 Billion USD. When you compare that to say the amount of ACH payments that are processed on average in a day (136 Billion USD or 41 Trillion a year according to the ACH Trade group) or the nightly settlement of US Govt. Securities (roughly 2 to 3 Trillion a day) -- these numbers seem pretty small. The total pool of XRP's is roughly 100 Billion. At $1 per token that's 100 Billion USD in market Cap or roughly up to 4 times the current market cap of Bitcoin -- but that would still be small relative to the amount of liquidity that moves thru the world economy every day. Bank Settlements, payments, etc. in Europe are like 3 Trillion Euro's a day.
"Not only is there a finite amount of XRP — just as with Bitcoin — XRP is actually a deflationary cryptocurrency, which means that a tiny amount of XRP is permanently shredded after each transaction. It’s the opposite of unlimited supply. As time goes on, the supply of Bitcoin remains the same while the supply of XRP will actually shrink, making it even more valuable with each passing day."
(
http://www.huffingtonpost.com/entry/591cb3bee4b0b28a33f62915 -- I dont know if this is true or not, didn't read it anywhere else)
I think XRP will go up in the next years up to 50$ or more (in my opinion), no one knows thats all always speculation. Even if more Banks use XRP for international payments and if it is true that after any transaction XRP is permanently shredded and the supply will shrink, then it wouldn't take a long time that XRP goes up
lols