After a tough couple of days we finally were able to breath a little and watch most of our cryptocurrecies recover some of it's previous value. Searching carefully through Coin Market Cap I can see that even when almost every coin in this list gained some value in the las 24 hours, there are two coins with bigger gains among the TOP 20: XRP and TRX.
I'm not going to lie guys, these two aren't my favorite projects/coins (not even close) in this whole crypto environment and here is why:
TRX
What would you tell me if I told you that I'm going to solve world hunger and poverty through the benefits of blockchain technology? I'm sure you would think that it sounds like a noble idea, but at same time that it's completely out of touch with reality. What would you tell me then, if I told you that I'm going to end with online fraud using blockchain? Maybe you would say that this sounds much more believable than the first case but still, you would ask me "how exactly is this going to work?".Here is the thing, I can try to imagine a hundred examples like that until I find the right balance between that "great idea" kind of impact and making you think "that's kind of achievable, even if I don't know how". And that's how you can build a platform based on an atractive premise so you can convince people to invest in your idea.
I know, descentralized internet it's a big thing (particularly in this crypto world) but when you offer something great without being able to explain how you're going to do it, or you kind of explain it in an incomplete and PLAGIARIZED white paper, then I have to think that you are kind of lying. And then, when you go all "we are in talks with this big company and we are in talks with that great company, we are going to be HUGE very soon" like Justin Sun (Tron Founder) is doing on social networks, then I have to think that your pumping your own coin beyond it's real value just so you can dump it later. That's just what I think.
XRP
So here you have a couple of facts:- The XRP price grew more than 30,000% in 2017, and the main reason behind it's the announcement of the inclusion of some really big banks and companies among their clients
- XRP is 100% pre-mined coin
- Only about 40% of those pre-mined coins are currently in circulation. That means that the other 60% is in the Ripple company's (and its founders) hands
Now a couple of questions:
- If most of these coins are still under Ripple's control, why wouldn't they pump it's price?
- With all those XRP in their hands, wouldn't they be able to give some (say 1 billion) coins to a few of these "clients" just for saying that they are in talks to implement it, effectively pumping up XRP's price and then selling most if not all of their coins
I know, some of this ideas may seem a little far fetched to most of you but considering that some of these Ripple's clients are the same banks that played their part in the last world economy colapse, and being just a couple of days after Bitconnect's implotion I guess that my levels of distrust are on an all time high right now.
Anyway, beware of were you put your money guys
Do your own research
Take care
Far fetched? Not really....
I don’t know if I think they are planning on scamming everyone to the degree that they don’t have a plan and it’s all just s show, but I do believe they’re both “fake it til you make it” in some aspects, and kind of business as usual in that they’ll use cheap tricks if they think they can get away with it. I’m not rooting for either of these companies...if I invest in either it’s for a quick buck to later put into Steem, substratum, EOS etc.
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What does this precisely mean?
He paid money for promotion
I was hoping to read an explanation for the xrp&trx price increases. But I didn't see it 😥
About xrp&trx I know for sure that that 1 (former) CEO (Chris) has 5bln XRP. So the maximum free available amount is only 33bln assuming this guy won't sell. If we also assume that other high placed ripple employees have 13bln XRP, there is only 20bln freely Circulating.
The smaller the free float is, the higher the volatility. Could this be an explanation for the latest strong price increase?
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My predictions if Ripple will be $100 or $1000 one day! Also, don't forget, that you can be easily rapped by Ripple!
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Thank you for sharing. Vincent B. Upvote!
hello there nice post...i am upvoting you and following..please do the same for me and do let me know by replying...go vincentb
I think that what you wrote about TRON is right. What is scary is that a "project" like TRON (some would call it a scam), can rise to a few billions worth of value in a very short period of time in the crypto-sphere.
I think everyone has the same questions about XRP. I do think they have a real technology. I don't like that it's centralized (running counter to the whole heart of cryptos). I don't see a way they can "pump" their coins value, but everyone's fear is of them diluting its value. However, they have apparently placed the remainder of the XRP they own in an escrow account.
All good measures. I'm invested in XRP (since $0.18) and do believe that the tech vision is there, not to mention the size of the market they want to service.