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I was more concerned about cryptos holding gains through Wednesday morning when our latest loans locked in their prices. When those go into effect every two weeks, I of course get a lot of messages from CredEarn, but I must have missed that particular memo, so thanks for the heads up, MS. I will check it out. You are my Uphold/CredEarn guru, you know. Even though the original loan ladder was set after only six months, I have continued to add, making 5 or 6 transfers every two weeks. I do plan on giving it a rest after March 15th. That will conclude a year of steadily moving money.
Good luck to XRP (...and BCH and ETC and the rest...)
Dang, I almost averaged down the other day!
Still need a lot more than +70% (or even 300% from the recent low) to turn this green.
I did see the updated rates from CredEarn, yes, thanks, MS. The last time CredEarn lowered rates on our Uphold holdings, XRP was going up. Maybe this is a good sign, but any celebration might be premature. I think we have to make it through the holiday slump first. (Remember Trading Places? Apparently a lot of traders needed to sell their holdings so they could afford to buy their kids a GI Joe with Kung Fu grip.)
I was thinking I might mix in some gold and Bitcoin Cash once my money transfers go through. In the meantime, I can use the interest I collected on the 15th to pick up some more cheap XRP.
Also, did you see Uphold added some more currencies? CredEarn was already offering 4% interest on some of those and it looks like they just added OmiseGo (OMG). They did not have that set up before the 15th, much to my chagrin.
Mind if I quote the article europa7 posted?
"Pump and dump is a form of microcap fraud in which the price of an asset ... is manipulated by a group of coordinated actors through a series of high-volume purchases.
This artificially inflated demand triggers a dramatic increase in the price of the aforementioned asset, and is often accompanied by an influx of unknowing investors who are unaware of the manipulated nature of the spike. Often this phase is augmented through the proliferation of misleading positive statements or recommendations by experts, further driving casual traders to market.
Ultimately, the perpetrators dump their shares, flooding the market and overwhelming organic demand. At this point the share price of the asset plummets, leaving ordinary investors holding now heavily devalued shares."
Now replace every mention of investors and traders (i.e., "unknowing investors", "casual traders", "ordinary investors") with "greedy, suffering from FOMO types who were hoping to get rich quick chasing the latest hot thing going up fast."
You might feel less sympathy for said traders/investors... but still definitely feel some empathy. Indeed, after choosing my user name, I immediately regretted it, thinking I should have called myself FOMO MOFO instead. In other words, nobody put a gun to my head on this or any other investment. Not cryptos, not pinkies, not dividend paying blue chips, not volatility puts or DJIA calls. With every risk comes ... well, risk. Period. With education and experience, you might take enough good ones to make up for the bad ones.
Enjoy the holiday bargains! (XRP!)
Many coins on sale today, not just XRP. The year is almost over, with this being the second to last weekend before Xmas; that might have something to do with it. I would not know, as I was not in this space a year ago. I think my first crypto buy-in (elsewhere, not XRP) was on December 28.
Not to mention everything else: Fed holding steady, one trade deal on, with more to follow (possibly), Brexit on again... that last you might think would spur alternative currencies (has it not in the past?), but for some reason, the pound’s first move was to rally; maybe because now we have Brexit with decidedly less FUD. A short-lived rally? Perhaps. But I would not be surprised if these bargains* lasted for the rest of the year.
*if you believe in cryptos and in XRP, these are bargain prices, no?
Thought all cryptos were already emulating each other. By going down, that is.
Hashtag accumulation zone : - )
Based on the chart, buy low, sell high stills works here. Got some at the closing price; I will buy more if it goes lower. If it revisits the highs of the last five days, I will sell some more.
They couldn't wait another day for that announcement? Darn it, my options order was so close to executing. Oh well, we shall see if that was the bottom.
Curse me for not being among those flippers! Sure wish I had averaged down on this one. I would actually be up if I had. As it is, need a lot more positive momentum.
... or another dip...
Not to take away from XRP; buying more of that, too, at these low prices, but I should note for those using Uphold, like MS and yours truly, that they have a No Transaction Fee deal going for 24 hours if you want to buy a handful of new cryptos that they did not previously offer, including Stellar and this one I never heard of before called OmiseGo (OMG). Their usual fee is 1.4%.
Along with the XRP I am loaning out on December 15, I will loan out my newly purchased XLM at 4% from CredEarn. They do not offer any interest on OMG, but I just took a small flyer on it for fun.
So Julia Chatterley is on CNN now. Good news for her as that means she is now in HD. Used to watch her and the rest of the Squawk Box Europe crew on CNBC World. That business show out of London was my favorite excuse to stay up late, but that channel is not in HD, which was always kind of ironic and unfortunate, since all the most beautiful women on cable news were all on that one show.
I am not inclined to watch CNN, but will be interested in the interview. Go XRP and MGI!
IDGC's volume today was indeed better than average. Will need about 7 days in a row of such action to get it off the basement floor. Good luck.
Thanks to whoever opened the day paying 0138; that was more than my ask. Once in a while you get lucky with the OTC.
Those were just half of my flipping shares. I am not thinking about touching my core position until 4 cents, but with this sideways movement over the last couple of months... to avoid frustration, I had to get in on the action, especially the swings from 0.008 to 0.0115.
When I saw news of my good fortune, I immediately put in a buy order at 0.009 just for the remainder of the day, but nothing doing. Shall I put in a crazy low bid at 0.0072 for next week?
Enjoy the weekend, folks! : - )
MGI has been a good one to play since the Ripple news spike in June. You had to wait for the price to retreat; then we had fun playing it as it ground out a range in the low to mid twos (where it is now) for a month. Then it took off and kind of exceeded my expectations. Perhaps it raised everybody's expectations a little too much, and here we are again, after that 6-month ride. I think it is a good spot to play, maybe options, although I have to go out to February to find any with a strike price of 2.50.
I read that as meaning enough supply exists to satisfy current demand. Not as good as if there was enough demand to require up to another 1 billion in supply. Not as bad as a sharp poke in the eye.
As for my CredEarn loans, I rolled some two weeks ago and again on Sunday morning (or Saturday night, depending on your time zone). I did notice that the maturity dates only go out 3 months, and then I added new ones as well in a few different "currencies" with 6-month life-spans. The emphasis within the latter was on USD, since they made us that 12% offer we could not refuse.
Hey, MS, I stand corrected on CredEarn percentage for USD on Black Friday. It was 12%, not 7%. I guess they forgot they lowered their rate on our Uphold holdings to 5% two months ago, and went ahead and honored the 12% touted in their Black Friday promo.
I will take it... and the 9% they offer on the XRP I rolled over into another six-month loan.
I will take an increase in the price of XRP, too... after I buy more next week. : - )
Yeah, looks like my 0.0075's filled, too. OK, it can go up from here. I would not mind.
: - ) SNDD Long and Strong...
... but I might put in an order for 0.007 for the last half hour, just in case.
I just bought shares at less than that. I put in a limit order at the bid of 0.0075 first, but then I thought, maybe I would just slap the Ask of 0.008 ... y'know... just a little slap. But when I looked at how large the Ask was compared to the Bid, I thought, I could probably go lower, somewhere between 0.0075 and 0.008. Filled immediately.
I do not know about pennies last year, but for blue chips, December was a gift, better than any Santa brought you. Huge buying opportunity. Will history repeat? We can only enjoy playing the game and find out the score later.
I sure did see the email from CredEarn, thank you, MS. I have one transfer of dollars into Uphold still pending, but I went ahead and logged on and set up a loan with what I already had in there patiently waiting for Dec 1.
I should note they might be a little confused (and confusing) by putting up that big 12% teaser number. CredEarn’s rate on USD and the Euro was lowered from 10% to 5% last month, so the bonus 2% should just get us up to 7%. I will still take it.
Meanwhile, I rolled over a loan of XRP that I set up six months ago. Still getting 9% on that. Likewise rolling some LBA at 10%. Was kind of hoping that the value of those would be greater now, six months later, but so be it... the accumulation window remains open.
This is a good spot right here, MGI. Correct me if I am wrong, but the Ripple price is 4.10. And they are going through with their option to buy more (20 million on top of the original 50 million in June). This is still a pretty good range to trade.
The max XRP is 100 billion, not 500. Let’s get our FUD straight, folks. Half (50 billion XRP) is already in the marketplace. Current pace indicates over 15 years pass before the full 100 billion is out there supplying the demand.
As low as this has gone, I have not bought more this weekend, because I still have not been able to snag it at .225 or lower. And it always seems a little higher at Uphold than on the chart here. Making the transaction fee percentage closer to 2% than 1.4%. Oh, well, as long as it is consistently priced higher from CredEarn, then my six-month loans will get a slightly higher strike price every two weeks.
Do not forget food, water, heat and energy ... and protection for same. I mean, if we are talking about things failing and getting really bad. Financial investments are for a functioning, mostly peaceful, mostly lawful, world. Even that sage advice to buy when there is blood in the streets depends on things turning around for the better not long after.
XRP is just one of many cryptos, which in turn is just one of many investment choices. That sub-dollar price (now sub-quarter) suggests a lot of upside potential, but then how many coins are sub-penny? XRP seems to have a use case, a growing eco-system with a strong and active team working behind it, and potential longevity, i.e. it should out last many of the quick-buck coins. But frankly, because of that, I am not sure any moon shots are imminent.
In the meantime, you can trade it. The chart says we have had four small little upticks during this latest (crypto-wide) slide. Is this fifth upturn the real thing?
Need to keep something in mind about crypto: most people heard about crypto after the beginning of the current bull market (and a heck of a bull it has been). And for most of those people, it is still only Bitcoin.
I heard about Bitcoin in 2012. I only started looking for others this year. And the reason for that was because I think BTC has too much downside (you know, at 8k or whatever k), so I looked for something cheaper on the list, and hey, look at that, the third place coin is under 50 cents; that looked like a lot of room on the upside. I do not know how many times that scenario has played out: where someone who is looking for a coin that has yet to have the ridiculous gains of BTC, decided to go with one under a dollar and landed on XRP. I am sure I am not, and will not be, the only one.
But again, it is not 2012, let alone 2009. The stock market is looking toppy, even if another 10% gain before New Years still looks quite possible. The bull may be running out of gas. We have yet to experience what happens to cryptos during a bear market in the broader equities sector. XRP and BTC and everything else could easily go down (a lot) before they go up again.
Not to mention the holidays are coming. Last year they gave us a huge buying opportunity in the broader market. What will happen this time? We live to find out.
MGI kicked butt a couple of months ago. How quickly it turns. I was able to squeeze a little more juice out of some cash covered puts (expired worthless today); but the momentum that made November 5's profitable in September has faded completely. I still think MGI is very playable around this price.
Hmmm, that was my 1111, a partial fill on a larger order. I am trying to be amused by that, but mostly annoyed. At least I scored the high for the day. I had a partial fill at 0.016 last week, too.
(Before anyone bemoans my selling so cheaply, I will note I already have a core stake bought four months ago; these additional shares are for trading the churn -- in an account with no commissions ... or taxes.)
Oh, well, it could have been worse; the partial fill could have been on the B N G I shares I sold today. That would have been really annoying. Another four months in the dentist chair on that one.
This is too close to a third Friday of the month, darn it. Cannot get much premium on the November 2.50 puts... yet.
I believe Q1 escrow release was 700 million. That number went up to 900 million in Q2, and back down to 700 million in Q3, for an average of 255.556 million per month, meaning it is taking a third of the year to release a billion XRP.
This is good news/bad news. Good news they did not release the full billion, because that would be too much right now; the remaining 70% or more went back in for another 55 months. The bad news is there has only been demand for 23 to 30% of what is available from escrow every month. We have a ways to go before demand outstrips supply.
This has kept the price nearly unchanged since the beginning of the year, but within that time, there have been peaks and valleys... so, while the accumulation period continues, traders have also been able to trade.
Well, I moved my price up for you a couple of days ago. To 3.15. Hope that helps you all. It helped me, as now I am playing with the house's money again. Sure had my doubts once this became an R/S. This is the biggest smile of the day for me from this ever delightful market.
PS Thanks, bb, for the math. I guess 3.15 is equal to 0.0063 pre-split. I know my first buy-in months ago was 0.0058. And my average was lower. (Don't we all wish we had doubled up a few days ago; oh, well, I thought I was crazy enough when adding at 0.0026.)
I will also note the first time I sold (again, months ago), the price was 0.0082. That would be 4.10. I don't suppose any of us would mind seeing that on say... Monday.
As a buy the rumor/sell the fact guy, I am thinking the "fact" of Swell got us to 31 cents, and that might be it for now. If that is the case, then maybe there actually was a pre-Swell boost after all. My condolences to all who were hoping for more.
and so the accumulation period continues...
Been earning 9% on XRP for six months. I buy XRP with Uphold (transaction cost is 1.4%, btw), and then loan that out through CredEarn; have done the same with Lite, BCH, and even USD, getting anywhere from 5% to 10% depending on the “currency”. The rates can, and sometimes do, change every two weeks; the loans are initiated and consequently mature or rollover either on the 1st or the 15th of the month.
As with anything financial, caveat emptor, and don’t put all your eggs in one basket (or, if you do, watch that basket like a hawk).
I dreamt that I had 2 new messages this morning. I mean, in the dream, I could see the word Mailbox and the number in parentheses was exactly two more than I usually have (my baseline, as it were). And sure enough when I logged on this morning, the number beside the word Mailbox matched my dream perfectly. Now that either means my dreams provide me with future sight... or these boards are getting really predictable.
Especially this one for XRP.
Now if I could just have a vision of what will be up 90% on the hot boards tomorrow... hmmmm... make that Thursday.
I see we hit 30.4 cents again. All well-informed flippers should be out now, as that has been previously identified as XRP’s resistance point. Nothing more to see here; move along. Next month you can regale us with stories of how you deftly caught the bottom of the subsequent dip. Until then, happy trails.
While we wait for that, hmm... what next? I might take a flyer on the Dow with options, like calls with a strike price of 30k. Not that I am anyone’s financial advisor, but If you like breakout plays, that one has finally broken through the resistance at 27k.
Well, that was painful. Blue skies ahead? This is why warnings of a reverse split send them to the hills. Broker no longer knows my cost basis? Fabulous; luckily I do not hold this in a taxable account, so that is one less headache, but... dang! I guess I need to buy some more shares to average down. What d'ya think? Another 100K shares? Oh, wait ... yeah, no, not so much.
Chart hit $3 mark during a speculative spike. Surely nobody thought it would plateau there. You would have better luck resurrecting John Maynard Keynes than “stabilizing” this currency at any higher price, let alone three dollars. If the 55 billion XRP in escrow were in yearly accounts instead of monthly accounts, we probably would still be well under $3.*
I have no price targets or dates for this or any other cryptocurrency. I am accumulating with money that would otherwise be getting 2% at a bank. If I was trading XRP, I guess I would be upset with it loitering around 29 cents, since I would either be waiting for it to get to over 30 cents, so I can sell, or get back down to 27 cents, so I can buy; that seems to be our trading range, somewhere between 24 and 31 cents. If you are looking for a breakout, you can always try the major indexes. The Dow may have finally escaped resistance at 27k, which means 30k is in play before the next recession. That is just my opinion. (That is an experienced, although often indistinguishable from amateur, opinion.)
As with any investment, you can trade XRP in different ways. You can buy and hold (or HODL, as they say). You can buy low and sell high. Or you can wait and whine. Not sure doing so here makes any difference. XRP is not like a low float penny stock that can be pumped or dumped with a little extra bulletin board or social media action. But I will keep reading the posts. (OK, sometimes I just skim them.)
*Effectively the XRP is in quarterly or thirdly (thirdly?) accounts, as this year the amount released from escrow has been between 23 and 30% of what was available in the accounts; the rest went back to wait another 55 months.
Ouch! That earnings miss was seriously painful. But it could have been worse. I could have sold cash covered 4's yesterday. Phew! Dodged that bullet.
If the smart money sells on the news when it is good, should we be buying this bad news? Will reassess next week.
Yikes, that's my partial fill of 100 shares. And not with a broker that offers zero commission on pinkies. That is what I get for bid sitting on this low volume sucker.
To be clear, if your Uphold assets include BTC, BCH, or LBA, you can get 10% on those from CredEarn. You can get 9% on XRP, 8% on Lite, 6% on Ether, and 5% on the good ol' USD. The 10% "teaser" rate on USD is gone. I may be able to roll some of my older USD loans with that rate when they come around for renewal; I'm not sure. However any new dollars will only get 5%, not 10%.
Hate to be the bearer of bad news, MS, but you probably were already told (but forgot) that CredEarn cut its 2G2BT 10% interest rate on USD in half. Five percent is still good for USD, but I added some more XRP, so I can spread out my holdings more evenly over the next six months. Sadly that 10% on USD actually drew me away from my initial purpose of buying XRP through Uphold and I found myself simply keeping my transferred dollars in dollars and not changing them to XRP, except once in a while when I tried to time the dips.
The fact that CredEarn had lowered its rate on XRP from 9% also discouraged me. Was it all the way down to 3%? I forget; maybe it was 3.5%, but that is still less than the 3.57% I need to arbitrage my mortgage (after taxes). They brought that back up to 9% (even goosed us two weeks ago with a bonus 1%), and I am hoping that continues for another five and a half months as I will bank (with Uphold) the XRP from my first two loans, as those are the rungs of my six-month loan ladder heavy with XRP. I will spread that out evenly on any rungs that currently have no XRP on them. (Embarrassing to say, I know; some have Bitcoin Cash, LBA, or Lite on them, but no XRP. Indeed I bought one more BCH with my remaining USD, and will loan that out at 10%.)
What we know is that every month escrowed XRP is released (on the 1st of every month as far as I can tell) to the tune of 1 billion XRP. We also know from quarterly reports that in the first and third quarters, 23 and a third percent actually stayed out of escrow and the rest went back into escrow. In Q2, we got the Moneygram announcement and, perhaps because of that, a bit more came out of escrow, 30%. The rest goes back each month into an escrow account that will not come back around for another 55 months.
The market (the demand) seems to be able to handle the additional supply of XRP as the price is about the same as it was six months ago. I have only been accumulating XRP for that long, so references to a much higher all time high is no concern to me as that was obviously a speculative spike, which may not be repeated soon (with all due respect and sympathy to bag-holders). Still, for those who trade in and out of cryptos, XRP seems eminently tradable.
So again, from what I understand, the monthly release of XRP happens on the 1st of the month. But when does the monthly return to escrow happen? If, say, October’s effective influx was 233,333,333 XRP, did the remaining 766,666,667 XRP go back into escrow the same day? That is my assumption, but just wondering.
My own mini-escrow ladder with CredEarn comes back around in a couple days. I could just roll over that first rung of my loan ladder for another six months, but it has the majority of my XRP; I want to spread it out more evenly over the other 11 rungs of the ladder. This does mean taking a chance on where the XRP price will move in the next six months, but I am used to that now.
This thing is a cryptocurrency; it never closes. I would think anything over 30 cents would be a point on XRP’s current trading range where you would sell, not buy. Sell anything you got at a bargain in the mid-20’s. And then reload on the next dip. If you are a trader, that is. Me I am only buying (with Uphold) and then loaning out the XRP and other currencies (with CredEarn) every two weeks. So I have a few days remaining to decide if I add to my holdings before the 1st; I would like to, to the tune of a few thousand more.