STR Giveaway to XRP/BTC Holders, June 27th.
Hey Fellow Steemians!
I am newer to Steemit and very new to cryptocurrency, but am educated in business/finance and love being able to use my education to navigate this space. At the same time, I'm definitely not a professional and do not have very much experience trading. The fact hat there are 725+ cryptocurrencies is hard to follow closely, but have noticed STR and XRP had a huge price increase over the weekend and are now seeing a major dump in price...
Why would you dump XRP when you will get free STR simply for holding XRP?
Stellar.org held 20% of their coins from their ICO. 20 billion? They had a previous giveaway, but have 16 billion STR left and want to give it away to BTC/XRP holders 16%/1%. So you get 1% of XRP you're holding in STR. So why the market dump?
Any experienced coiners here? Thoughts?
Despite losing 50%, I think I'm going to hold my XRP for the long haul in case there is a pump during the STR giveaway on June 27th to August 27th.
Why?
Well, BTC is hitting an all-time high and it's still going - price AND market capitalization. ALL coins are currently falling, even our beloved STEEM.
My thoughts are that BTC/ETH are "bottleneck coins" that are used to purchase others. If they are hitting all time prices and market cap, doesn't that mean the market will likely correct to the BTC once market cap from BTC is spread into other coins? I don't like the thoughts of market manipulation, but I'm also thinking there is a high chance that a pumper will come in and pump XRP & STR for the STR giveaway - they are all about capitalizing on opportunities - why wouldn't they buy and hold XRP, pump STR up pre-giveaway, and then collect on the exchange of STR for BTC?
Looking forward to your thoughts on this! Hoping my inferences are correct here...would not be fund to lose 50% for the long haul, but thinking XRP will take a turn for the better!
Well in crypto you get this common pump and dump kinda thing. So a coin will rise stratospherically and then it will crash. Quite a lot of holders try to sell when it is near the peak and rebuy when it crashes down. Of course some dont bother buying back and move on but that is how a lot of profit is made. Some of those sellers will have bought ripple when it was 0.005 pence. Sorry I dont know the equivalent in cents So by selling when it hits 20pence is like a forty fold increase in value!
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I’ve been eyeballing XRP and trying to time my entry in. I think the model makes sense and this will be the “big banks” entry onto the block chain. In the long term I see Ripple as an excellent complement to BTC and ETH. However, I‘m hesitant to jump on the bandwagon right now after this wild, crypto run-up of the last several weeks. One other thing I heard mentioned from a couple different sources is Clif High’s Web bot report in which he’s indicating “the language” does not fare well for Ripple in comparison to the other Cryptos. I have no idea what influence he’d have in the crypto community so take it for what it’s worth. Good Luck.
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I could do some technical research on it. Might be something i might be interested to follow.
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Hallo @crowdedmind, I am also new to Steemit. The Ripple hype/hate is an interesting subject. Please check my post on this: https://steemit.com/crypto/@greenfields/why-hate-ripple-xrp-the-fastest-cheapest-and-most-scalable-digital-asset
I will upvote you!
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Very good blog. I fully understand what you're talking about. Sell the coins that you know nothing about. Do proper research on any coin you buy. If the market falls at least you can hold your coins knowing they have a long term future. I found this amazing platform: https://www.coincheckup.com I'm really happy with this site that gives complete coin analysis for every single crypto. Check for example: https://www.coincheckup.com/coins/Ripple#analysis To see the: Ripple Investment research report.
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