5 ms·

We had three stories about Ripple appearing in front page in 3 days. What’s going on?

Kiro 9y ago
Just read the headline of this article and you'll realize why the current Ripple psychosis is newsworthy. What has happened the last week is historical and scary.
- adventured 9y ago
  It's the signal the mania stage is nearing an end. See: Yasumitsu Shigeta They're playing musical chairs right before the implosion. Ripple might be worth a couple billion dollars as a dangerous speculation. PayPal, an actual, real, live, huge, global, payment & money transfer system, is worth $92 billion. Some people say you can't place a value on something like Ripple. Sure you can, treat it as an actual business, measure its prospects over the next 3, 5, 10 years. What are those business prospects for the next few years? Not much, less than that of Square and Stripe. Ripple is just this bubble's CMGI or Internet Capital Group. Bitcoin is this bubble's Cisco or AOL (if it's lucky). The junk ICOs are DrKoop.com or TheGlobe. There's nothing unique about what's going on, history is rhyming as it so often does. It's a likely indication the global liquidity asset bubble party - spurred on by so many central banks pumping crazy levels of liquidity into the global economy for a decade - is reaching toward a climax, again.
  - tedeh 9y ago
    Can you explain the Yasumitsu Shigeta reference? I tried Googling but I don't get it.
    - stock_toaster 9y ago
      From what I gather, the founder and chairman of Hikari Tsushin Inc. Once among the world's richest people, until Hikari Tsushin lost 99% of its stock value in 2000. EDIT: found this[1] [1]: https://www.theguardian.com/technology/2000/nov/25/internetnews.business https://www.theguardian.com/technology/2000/nov/25/internetn...
QML 9y ago
News articles => Increase in Price => News articles...
- jeron 9y ago
  As someone holding ripple, I'm okay with this vicious cycle
  - EGreg 9y ago
    Someone should start a hedge fund finding ICOs with really well-connected teams, such as Tron (Alibaba connections) to predict the next wave of stories => rise => stories => rise. I for one would put $$ into that hedge fund.
    - kosei 9y ago
      Just as long as they get the money out before the musical chairs stop.
jlgaddis 9y ago
Pump and dump. Lather, rinse, repeat.
RandomInteger4 9y ago
People are obsessed with cheap shit, because they took one logical step and said "if this goes up $1, I make more than if Bitcoin goes up $1", but then they leaped over the next step ignoring it completely, which says that there are 100billion XRP, so the likelihood it will go up in price by $1 is rather low. Granted, enough people bought into the flawed logical to see it happen a couple times over, not realizing that there's no reason for XRP's existence.
- 3cham 9y ago
  Could you please elaborate more on the point that there's no reason for XRP's existence?

Kiro 9y ago

Just read the headline of this article and you'll realize why the current Ripple psychosis is newsworthy. What has happened the last week is historical and scary.

adventured 9y ago
It's the signal the mania stage is nearing an end. See: Yasumitsu Shigeta They're playing musical chairs right before the implosion. Ripple might be worth a couple billion dollars as a dangerous speculation. PayPal, an actual, real, live, huge, global, payment & money transfer system, is worth $92 billion. Some people say you can't place a value on something like Ripple. Sure you can, treat it as an actual business, measure its prospects over the next 3, 5, 10 years. What are those business prospects for the next few years? Not much, less than that of Square and Stripe. Ripple is just this bubble's CMGI or Internet Capital Group. Bitcoin is this bubble's Cisco or AOL (if it's lucky). The junk ICOs are DrKoop.com or TheGlobe. There's nothing unique about what's going on, history is rhyming as it so often does. It's a likely indication the global liquidity asset bubble party - spurred on by so many central banks pumping crazy levels of liquidity into the global economy for a decade - is reaching toward a climax, again.
- tedeh 9y ago
  Can you explain the Yasumitsu Shigeta reference? I tried Googling but I don't get it.
  - stock_toaster 9y ago
    From what I gather, the founder and chairman of Hikari Tsushin Inc. Once among the world's richest people, until Hikari Tsushin lost 99% of its stock value in 2000. EDIT: found this[1] [1]: https://www.theguardian.com/technology/2000/nov/25/internetnews.business https://www.theguardian.com/technology/2000/nov/25/internetn...

QML 9y ago

News articles => Increase in Price => News articles...

jeron 9y ago
As someone holding ripple, I'm okay with this vicious cycle
- EGreg 9y ago
  Someone should start a hedge fund finding ICOs with really well-connected teams, such as Tron (Alibaba connections) to predict the next wave of stories => rise => stories => rise. I for one would put $$ into that hedge fund.
  - kosei 9y ago
    Just as long as they get the money out before the musical chairs stop.

jlgaddis 9y ago

Pump and dump. Lather, rinse, repeat.

RandomInteger4 9y ago

People are obsessed with cheap shit, because they took one logical step and said "if this goes up $1, I make more than if Bitcoin goes up $1", but then they leaped over the next step ignoring it completely, which says that there are 100billion XRP, so the likelihood it will go up in price by $1 is rather low. Granted, enough people bought into the flawed logical to see it happen a couple times over, not realizing that there's no reason for XRP's existence.

3cham 9y ago
Could you please elaborate more on the point that there's no reason for XRP's existence?