Hello all. So I put a considerable amount of money into ripple yesterday because I got caught up in the hype. After reading some of these posts that say that it all may be a scam, I wish to get them back to BTC. I have sold my ripple but they are still 'stuck' as BTC in ripple's snapswap. I realize that I'm an idiot, but is there a way that I can get my coins back to my BTC wallet?
don't think anybody knows why the price of XRP surged over the past few days. It is almost axiomatic that it can drop just as quickly and nobody really know why.
Assuming you are not a straight up crook (which is hard to do circa late-2014), do you realize how naive you are?
(1) The XRP market is totally dominated by insider whales. They know exactly what will happen and why.
Even a sophisticated outsider will get constantly blind-sided by insiders.
(2) The 2 months I traded XRP daily there did not appear to be any fees. Markets where certain
participants pay no fees or minimal fees have inflated and meaningless volume.
(3) XRP is trading at << 50% of mid-2013 levels in terms of BTC. It's been a horrific "investment"...
except of course for insider whales.
(4) Ripple Labs is an extremely secretive and disingenuous company. You can assume everything
is some kind of misdirection. All that hooey about "helping migrant African laborers" is baloney.
And I don't trust any of the numbers on Ripple Charts. They go back only 3 days for a reason.