They Say XRP Is A Shit Coin (But They're Wrong And/Or Stupid. Also, It's Irrelevant.)
There's a large contingent in the crypto world that do not like Ripple's XRP coin.
And by 'do not like' I mean 'hate'. They call it a shit coin. They claim it is controlled by the banks.
They make up funny stories about how banks are going to get all the bitcoin by tricking you into buying XRP (lol wut?)
Everybody's welcome to their opinion, great.
But here's the thing. It doesn't matter.
It doesn't matter if XRP is a shitcoin, or controlled by the banks, or a solid quality coin with real world use solving real world problems for a trillion dollar industry.
It doesn't even matter if these people are wrong (or right), or whether they're stupid or not (they'll have other problems in life from being stupid.
THE TWO WAYS OF INVESTING IN CRYPTO
There are two modalities of investing in the crypto market.
- Emotionally
- Like a professional
Believing a coin to be a shitcoin and having arguments about it on the internet is a sign that that person is, at best an emotional trader.
Feeling something about a coin, getting mad that others do/don't buy it, arguing with random strangers about a coin's pro's or con's, etc, just mean that you are emotionally attached to a coin.
Professionals don't get attached to any particular coin. They don't argue with random strangers on the internet about the qualities of a coin. They don't "HODL!".
The watch the charts. They assess all the factors involved with a coin (like how many emotional newbies and/or idiots are clamoring about that coin. They place their bets.
On 1-8-2017, xrp flash crashed from $2.50ish to $1.70ish. It dropped right to the long term trend line.
Some people made BANK! They sold at $3 or higher (after a massive surger in price) and then they placed their bets down much lower....like the long term trend line area.
Those people, for instance, sold at $3, rebought at $1.70, and then sold half or all after the immediate return to $2.50.
Those people were the professionals (or should I say, people that were trading professionally not emotionally).
The emotional people:
A. bought at the top after XRP went up 200% in less than a week.
B. They held while XRP dropped from $4+ to $2.50.
C. They didn't have any orders in around the long term support line.
D. They probably did some panic selling for a loss in there somewhere.
E. Cried and worried and complained while the professionals raked in the profits.
Whether you think XRP is a shit coin or not, whether you believe XRP is a 'traitor' to the values of 'real crypto' or not, it's irrelevant.
XRP is a coin, like all coins. It happens to trade at huge volume. You will intereact with it or you won't (more power to you).
But if you're an emotional gambler in this market, you'll save a LOT of money, and you'll make a LOT of money, if you admit that to yourself, grow up, and start trading more professionally.