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Looks like this thing reverted to the form it had in the middle of last week. If so, enter a low bid and see if it gets whacked in the last half hour. Fun experiment. Worth taking a flyer on GCAN with some mad money. Hope saying it out loud doesn't jinx it. ; - )
Oh, dear, what happened to the time value on my November 5's? This last month killed them. Oh, well, got some money off the table with the cash covered puts I sold; those 4's expired worthless a few days ago. At least we options players have more strikes to play with; 2.50 and 5 were the only game in town a few months ago.
Ah, I was itching for a Q3 report. Thanks for the scratch.
After the Q1 report, where 2.3 billion of the 3 billion XRP released went back into escrow, I figured at that pace, it would take over 15 years, and closer to 20 for the original 55 XRP escrow accounts to be completely exhausted. (Indeed, it has taken nearly 2 years for 55 billion escrowed XRP to be reduced, as of last week, to 50 billion.) So we are looking at an increase to the overall XRP supply of less than half a percent per month or 5.4 % a year, with that percentage of “dilution” going down every time as Ripple would be adding to an ever growing circulating supply (with demand keeping pace and then some, a long-term XRP holder would hope).
Then in Q2, the pace accelerated, with 30% of the 3 billion quarterly XRP escrow release remaining out of escrow. At that pace, it would take less than 15 years to get through the XRP locked up in escrow. But wait! What if the pace accelerated every quarter, with more XRP released in Q3, and even more in Q4, surpassing the 1 billion per quarter mark? It would be mathematically possible, if unlikely, for us to be scraping the bottom of the escrow barrel in 7 years.
Now, with this Q3 report, we are back down to 23.3%, meaning these 55 escrow accounts may yet last over 17 and a half years. That is plenty of time for Ripple to build the ecosystem. I hope they do not get bored with their steady progress.
GCAN is eminently trade-able, that is for sure. Problem is, as soon as you figure out the pattern, it changes. We had that buy-in-the-last-minute thing nailed the last couple of days, but today, the dip under 7 cents was early in the day.
Big move or big spread I should say. Dare I try to bottom feed only to get a fraction of my order filled?
Fidelity wants more information to trade this. So much for trying to avoid paying a commission on a partial fill, like I did a few months ago when I wanted to lower my DOMR average.
Am I to understand the SEC and/or OTC have tightened things up? You can't just buy anything any more? What's a poor bag-holder to do?
Hmm... another broker is saying the bid is 0.0031, which is higher than the last quoted sale. Does that qualify as thin? Again, ask is much higher at 0.015 as I type, but not much doing here. Sometimes thin just means no volume, no momentum. Nothing to see (yet)... move along. I need green days to be consecutive. And some hopeful speculation on what this ticker is going to be when it grows up.
Bought a measly thousand shares six months ago with what little cash I had on hand at the time and I have been meaning to increase that to a Big-Boy-sized position ever since. Today was the day to finally get some more (he said hopefully, full of hope). Needless to say, I brought my average down more than a few cents.
Cannabis? Like I need another CBD stock.
Does every old stock symbol that starts with M or C have to be remade into a hemp company? Seriously, don't we have enough MJ and CBD tickers already?
What will the new name for CWNR be? Maybe ...
Cannabis Worldwide Natural Resources
Hmm... actually that's not bad. I should buy more on the next dip.
The last time CWNR spiked, it double-topped. That was 3 months ago as you can see by the chart. I should note that the top (intraday) was closer to 5 cents, rather than the 3 cents suggested by these daily and monthly charts. That is one reason I thought it could easily get close to 4 cents on Friday. But 'twas not to be; it was more of a Sell on the Spike/Get out before the Weekend kind of day. Or maybe bag-holders needed to finally pay their taxes. Extension deadline is Tuesday.
Gotcha; my goal is to pay a million in taxes next year. : - )
On the other hand, I like to keep my Schedule D simple; hence my aversion to wash sales. So far, I have only been buying XRP, not selling. If Grayscale had a trust for it, like it does with BTC, ETC, and ETH*, then I could play it, even occasionally day trade it, in my Roth IRA. I did take advantage of Ripple’s interest in Moneygram by buying and selling options on MGI, sometimes even holding the stock; indeed I may get more “put” to me next week. So far that has been the closest I have come to “trading XRP” using a traditional broker. Meanwhile, I earn interest on my XRP, initiating six-month loans every 1st and 15th of the month with CredEarn. That will end up on a Schedule B.
That is another point of government-generated annoyance: the fact that they raise the Social Security threshold every year, but the Schedule B requirement has not been raised from $1500. I would expect to meet that higher threshold—at least I would try—but still, the fact that COLA’s and inflation only apply some places sometimes is a reminder of how arbitrary it all is. They occasionally raise the IRA limits, yet education accounts for your kid are still stuck at 2k, which makes no sense, since inflation impacts higher education as much as anything.
*Glad I did not touch that one when it came out ... ouch!
Have been trading fiat for crypto all year. Occasionally I have traded it back, sometimes regretting doing that too soon, in the case of BTC (by way of GBTC), and sometimes regretting not doing enough of that sooner in the case of Ethereum Classic (by way of ETCG), although I did flip my latest averaging-down lot for a modest gain. (I will pay taxes on the Bitcoin, none on the ETC.)
For XRP, it has been a one-way street, moving USD into Uphold $500 a day (for a limit of six days a month... once my funding bank clued me in to the bank regulations, that is—oops!). That was mostly to take advantage of the interest that could be earned from CredEarn, even while we wait for appreciation of XRP*. Those loans have six-month terms, so my first will mature November 1, making Tuesday the 15th the date I will add the last rung to complete my loan ladder... before starting all over again, rolling and adding to the rungs.
I must admit, after front loading that ladder with XRP, I have thrown in a little Bitcoin Cash and Litecoin, and LBA (CredEarn’s own token), and sadly, counter to the original point of opening an account with Uphold, I have also been skipping the crypto’s altogether and just loaning out USD, since CredEarn has been offering 10% on that. ‘Too good to be true” finally materialized as “too good to last” as the 10% offered on USD will be cut in half after Tuesday.
Note to Mindless Self: CredEarn is offering to bump the 9% they offer on XRP to 10% for the October 15 strike. That puts me at cross purposes, and makes me regret not yet setting up Plaid, which should speed up the transfers, and also increase my daily transfer limit to $2500 (which should be plenty).
*MS has been my guru on that.
Fiat better than gold? Mass-murder casualties might disagree.
The power to tax is the power to destroy and in the case of our country, you might note we got the IRS and the Fed at the same time (and no doubt in anticipation of World War I).
Of course, there were wars before the closing of the gold window, not to mention before the introduction of paper money. Still, having at its disposal a central bank and an entity empowered to confiscate a large portion of your income, a country can that much more easily go to war ... and STAY AT WAR. Now we have wars going all the time.
To the guy who wants to not pay taxes on his crypto trades, good luck and more power to you. I am thinking maybe do that in a self-directed IRA; I have yet to figure out exactly how to set that up.
Remember when one of the criticisms of Bitcoin was that it facilitated illicit behavior on the—oooooh, scary—“Dark Web”? I had to laugh. All the bitcoin (and now Ether, XRP, and the rest) that has traded hands cannot hold a candle to the drug deals, human trafficking, and death funded by the US dollar (not to mention the rest of the fiat currencies).
At least they honored orders put in earlier in the week. Had a partial fill on BNGI yesterday and completed the rest of the order today with no commission.
That is one I am hoping will get going again. We got a boost from the addition of Matthew Knowles (Beyonce's dad), but it has not moved for weeks. Need him out their selling.
Too good to be true for zero commissions on penny stock trades, that is, too good too last in the case of some brokers who introduced zero commissions this week. Let's look at four of the larger brokers: E*Trade, Fidelity, TD Ameritrade, and Schwab.
As far as penny stocks go, the zero commission deal no longer applies at E*Trade, and may never have applied at TD Ameritrade.
E*Trade: $3.95 (maybe 2.95 for IRAs, your mileage may vary)
TD Ameritrade: 6.95 (Yikes! That rate seems like it is from a previous century, doesn't it?)
As for Fidelity and Schwab, they still seem to be honoring zero commissions on penny trades as of today.
Even better day today for CWNR, G Street. I am glad I re-loaded once I cleared the wash sale period a couple of months ago. That is, I will be happy if CWNR continues to the high 3's tomorrow. It went to 5 cents a few months ago, and prospects should be at least that good if this latest run means anything. I have a core stake with a beautiful green percentage next to it that I will continue to hold for the promised moon, but I will play with my newer flipping shares. Give somebody else a chance to ride the wind (Crosswind, that is).
I noticed that DOMR was also up today, too, but I need a lot more out of that one.
On a side note: darn broker notification today: "Hope you enjoyed zero commissions on your pinkies this week. That ends tomorrow." Oh, well.
Been in this six months since reinstatement news. Paid off three months ago so everything is frosting from here on. Took the cherry on top and got back in a couple months ago (still playing with house money), and now this beautiful move today makes me glad I did. Last time I took profits was between 4 and 5 cents. Mid to high 3's tomorrow should be a piece of cake if this is for real.
Unfortunately now 185 million on Ask, no Bid for CYBL. That is another 55 million, probably from more bag-holders willing to get anything back.
Like I said before, there seems to be no hurry on this one. Others on the hot boards getting the buyers; none here.
We gotta pulse, Gare! We got a pulse!
Now I just need 4 more days like this (percentage-wise, not tick-wise)
Here I am again regretting not buying on the eve of the eve of the day when Uphold customers can lend out their holdings through CredEarn. I guess because tomorrow being the 1st also means more shiz dump XRP FUD. Oh, well, all my other crypto holdings are also up today; and what are the odds that will last?
As for XRP being a security, all I know is that XRP is not stock in Ripple. Sometimes I wish it were. Looks like they continue to do what they do, building business for themselves (and maybe our little token/coin that just might be a use case stud muffin to beat all others, one of these days).
Closing at 0003 is nothing to celebrate either. More 2's would have been acceptable. Returning to 4 ... even better. Being stuck at 3 for two weeks (or has it been three?) does nobody any good.
Partially filled 2's on third of my order. Ugh, come on, it is Friday, time to sell cheap, you day traders; you do not want to be holding the bag over the weekend, do you? Unload your cheapies!
Exactly; where can I buy at that price? Heck, I would get more APYP if I could buy it at 0.000001. Ha! Still watching the Ask. Still over 137 million sitting there. Does not seem to be in a hurry.
Sell on the News much? Bakkt, Binance.US, this all happened in the last week, right?
I mean, long term may be looking good for some alts, like XRP and other use case darlings, but doesn't adding more traders mean adding more sellers? ... if you know what I mean. Making crypto easier to trade for retail customers means less HODL and more buying and selling ... and short selling. Options, futures, all that stuff. Heck, I would been buying puts on bitcoin in anticipation of all "the News" if that had been an option.
That is what I am saying regarding CYBL. No bid. And Ask is increasing, because... what?
Bag-holders ready to pass the bag. Looks like some were happy to bail at rock bottom. I'd like to know where you can trade at 0.000004 or 0.000001, because being a bag-holder (elsewhere) and seeing I am up 9900% on the day, because it came back up to 0.0001 does me little good. And is just annoying.
They say volume precedes price, but... need another ten days of volume like this to clear the Ask, no? Unless some bag-holders change their minds and decide to hold out for more.
Might be a little early yet on CYBL, guys. There were 120 million on Ask. And now that number is up to 138. How many on the Bid? Five million... if that. Actually if Bid and Ask are both 0.0001, then ... there ain't no Bid, is there?
Maybe check back tomorrow to see if that 138 comes down.
Maybe should have bought puts before selling them. Hmm... Oh, well, MGI is now close to what I call the Ripple price ... $4.10, that is. If it languishes around 4, that will be fun for options players. It would also be way too easy. What are the odds that there is support so perfectly placed?
Donated 5% of my BNGI profits to charity for disaster relief in the Bahamas. I know, five percent may not seem like that much, but I have not actually secured those profits yet. When I do, I will donate an additional 5% to another charity helping hurricane victims. Here’s hoping that profit-taking comes soon, before another part of the world needs the relief more than the Bahamas.
Hey, G Street, did you notice your CWNR nicely green today? I only just saw the +22.6% at the end of the day. Don't suppose you know anything more than the same thing we have known for the last 5 1/2 months, that it is a reinstatement play.
Pleasant surprise while checking end of day numbers. CWNR percentage up even better than SNDD today, hooray! I bought back in a month ago (after waiting for a month to pass since my last profit-taking). Wish I had waited until this bottomed below a penny before getting back in, but I will definitely take today's up day. Makes every CWNR lot green. It would be nice to know there was a good (and new) reason for the run-up. Be even nicer if we found out over the weekend.
Go, CWNR, you little reinstatement play, you, go!
How does XRP dumping compare to FRN dumping? I cannot help but wonder, if Stellar Jed was able to sell all his XRP this week AND if all the billion XRP released from escrow this month STAYED OUT of escrow, would that not pale in comparison to what the Fed has done in the last 3 days?
Note for the record: this year so far it has been less than a half a billion XRP that has remained out of each month's escrow. Q1 saw an average of 233.33 million per month, and Q2 was an average of 300 million. Just think, in about a month's time, we will know the official Q3 numbers. Time has been flying on XRP this year; has everyone been having fun?
OK, I still love cryptocoley and CrytoCasey, but my new Crypto Crush is Breanne Madigan.
Go XRP! Good luck holding onto spikes from world turmoil and other black swans, but maybe every day use case with a little help from Coinbase might let us retain some of the gain*. At least MS and I got a little piece of this 20% on Sunday morning when our XRP loans went out through CredEarn.
*Hey, that was almost like poetry (go XRP!)
PS Sounds like the NY Fed is going to do that repo thing again tomorrow
Dang, instead of posting my long overdue apology on Thursday, I should have doubled my position. I don't suppose any of those knuckleheads (i.e., people who wisely sold in April) are back now.
Let's go, BBUCQ! I could use another 150%, but I will take six cents. On the other hand, I do not want to put even a percentage of my holdings up for sale, unless someone wants to quote how thin the L2 is and let me know where I can set my price without messing it up... you know, like a knucklehead would.
: - )
If you do not have any XRP yet, and you want be diversified in crypto, you could probably risk buying here between 25 and 26 cents. Depending on where you buy it, you can even earn rent on it, that is lend it out for interest like MS and I do using Uphold and CredEarn; current rate is 9%, which would make it a no-brainer, but I should note that rate has swung from 9% to 3.5% and back in the last four months.
As for XRP seeing 7 dollars, or even 5, that is not likely to happen any time soon. When it gets to $5, that would mean it multiplied by 20 from where we are now. Latest BTC run multiplied that by what... three and a half times? A lot less than 20. Most people here would be happy with XRP breaking a buck. Some were hoping for, maybe even counting on, 5 by end of the year. I think it will take 5 years, maybe 10, to see the multi-bucks predicted by various chartists. Since I am still accumulating, that works for me. Quick buck plays are elsewhere.
Darn, just missed my price on the dip. The high for the day on a September MGI 5 put was 32 cents, just shy by 3 cents for my limit order. I tried to price it perfectly for another 40 cent dip, but I "missed it by that much!" Oh, well, calls looking good again.
Heads up on options, Neb, no longer such a wide gap (2.50) between strikes. MGI has 4’s, 6’s, and 9’s available. Oh, boy, I could get in a lot of trouble now.
Any chance the good news is priced in? Including projections of future success and growth? I mean, this has been a slow and steady climber month over month and then it flew up 300% in just one. The last few weeks have seen that gain slimmed to 200%. The beauty is, with VSTR, that feels like a correction, not the dump after a pump, because this just is not a pump candidate. Too much of a real business here.
I sold enough near last month’s top to be playing with house money now, but I may risk diving back in if this slides further to 1 cent. I assume all the true longs here have in mind an initial target of 3 cents at the very least.
Shucks, I was hoping to play MGI again next week while it was taking a breather from its steady climb over 5, but I expect it will be back to green numbers on Monday.
Meanwhile, I was supposed to buy more XRP at the end of this week, so I could loan that much more of it out tonight with CredEarn (now that they have upped their interest rate to 9% again). I was looking for the dip it has had the last two weeks to repeat. I should have been satisfied with yesterday’s low 25 handle.
So ... basically, nobody is crazy enough to buy BNGI at 0.0003 ... or sell it at 0.0003. That makes a certain amount of sense, especially after this week.
Would not mind seeing 0.0005 next week, but if I see 0.0002...
And volume. Wouldn’t it be nice if DD Amanda posted an “It’s easy to spot these winners ahead of time” spreadsheet about a week from now? Might be a tall order for BBUCQ. : - )
Any apologies should be self-explanatory, I would think, when it come to BBUCQ. If you look at the board posts five months ago, we all got excited and started guessing how high it would go, quoting a thin L2 and so forth, and I got caught up in that, going so far as to post a “What are people doing selling so low?!?!?” type comment. That was embarrassing and an apology was overdue, as in I meant to post that months ago, shortly after the buzz died down.
It was me who was the knucklehead, not taking profits. Every day it went up I kept raising my price, the price I would first take some or most of my money off the table, like any sensible trader should do. The price kept going up, but would miss my exit price, and eventually that left me and a few others bag-holding and wishing they had done some more DD.
Just a reminder, that even stocks like BBUCQ that burn bright for only a few days can make for profitable trades, leaving you with a happy memory and the confidence that you actually know what you are doing ... but only if you book your profits.
As for why I finally posted my overdue apology yesterday, I guess I was feeling good about a couple other pinkies, like SNDD and BNGI; yesterday was a good profit-taking day for both of those. It is pure co-incidence that today has seen a bump with BBUCQ; nothing to do with me. Like I said, as long as you buy low and sell high, you can think of a ticker fondly. Some of us need it to go much higher before we can smile about it again.
PS. Hey, G Street! Note: I think Gary was my guru on this one, but make no mistake, the failure to sell and leave myself with free shares, was all mine.
This is about 5 months over due, but...
My apologies to the knuckleheads who sold.
DYODD! . . . Lesson learned