David Schwartz says those worthless tokens include TIX, DICE, FLASH, VEZT, AMP, SIG and more.
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Ripple CTO, David Schwartz, says he has a significant amount of funds invested in some cryptos usually referred to as shitcoins.He said this in a recent post on Quora , while responding to a generic question asking whether anyone has lost funds trading cryptos.
The Ripple CTO further disclosed that the crypto is not worth buying, “Absolutely.Not as much as I’ve made.But yeah, I’ve bought quite a few cryptocurrencies that turned out to be disasters.
My total losses, just on tokens that become completely worthless, is just over $300,000.”
Schwartz, who is one of the original designers of the XRP Ledger, said those worthless tokens include TIX, DICE, FLASH, VEZT, AMP, SIG, BEE, KIND, PRYZE, KUDOS, and NRN.
A shitcoin is a crypto with little to no value or a digital asset that has no immediate or useful purpose.The term is often used to describe cryptos developed after BTC rose to its prominence.
Recall about a month ago Nairametrics exposed the odd transactions made by Ripple’s Chief Technology Officer, David Schwartz, who had regrets on making bad decisions for their crypto portfolio in 2012 – resulting in the eight-figures worth of missed profit at current prices.
In a series of tweets released by Ripple’s CTO, he sold some Bitcoins for $750, and 40,000 Ether (ETH) for $1 each back then – a stash that would be worth more than $15.5 million in today’s prices.Olumide Adesina
Olumide Adesina is a France-born Nigerian.He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading.
Featured Financial Market Analysis for a Fortune Global 500 Company.Member of the Chartered Financial Analyst Society.Follow Olumide on Twitter @tokunboadesina or email [email protected] Click to comment Your email address will not be published.Comment Unknown person conveys $307 million worth of Bitcoin
Data retrieved from BTC Bitcoin Block Bot revealed Someone moved 19,961 BTC ($307M) in block 656,351
Published Olumide Adesina
Large entities in recent times have steadily increased the manner at which they transfer the world’s flagship crypto, Bitcoin, as its price hovers above $15,000.These are triggered by crypto traders and investors rushing to have a stake in this fast-changing crypto asset.
Data retrieved from an advanced crypto track BTC Bitcoin Block Bot revealed someone moved 19,961 BTC ($307M) in block 656,351.
As BTC whales accumulate BTCs, Bitcoin’s circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in.Meaning that over time, it’s possible that as BTC approaches its fixed supply of 21 million, the price of BTC will go up, with BTC’s present demand factored in.
Statistics obtained from BitcoinCharts revealed that Bitcoin whale addresses actually control a much higher 7,902,469 BTC, or 42% of the total supply.That brings an affirmative bias that the movements of these large entities are trajectory to price movements at unprecedented levels.This is an indication that more high net worth individuals are entering the space to invest in Bitcoin, in expectation of $BTC price appreciation.
Bitcoin accumulation has been on a constant upwards trend for months.2.6M $BTC (14% of supply) are currently held in accumulation addresses.
What this means
Nairametrics believes the increased buying pressures by notable institutional brands are partly responsible for the non-dilutable crypto recent highs.While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.
What this means from a macro level is that the increase in the number of these large entities can be considered bullish.Cryptocurrency U.S Central Bank plans Crypto U.S dollar
President of the Dallas Federal Reserve hinted that it was time for the US Federal Reserve to begin work on a crypto dollar.
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