For those of you planning on gaming the SOLO XRP drop (Luminous and I think Abe).
I think you are going to get absolutely wrecked. You are not going to be faster than the whales who are going to dump their SOLO milliseconds after the snap shot.
Do you guys still believe you are going to get 5:1 on your solo and 1:5 on your XRP? Better read the fine print, because thats NOT what is says.
Anyway, best of luck to you.
Quoting: KingSideCastle The bots will absolutely be programmed to the millisecond. Did you see the flare snapshot? It was just like that.
The fine print explains the formula and it is not 5:1. The formula is based on the SOLO/XRP at the time of the snapshot. Create the exchange minutes before and exchange back minutes after. I'll be sharper than that.
If I get wrecked in the matter of minutes then so be it. If I didn't see how Flare worked on 2020 I'd be less confident.
I appreciate your comments and those of everyone. Thank you, hearing tough words is important considering investing needs to be emotionless.
ETA: For anyone worried about getting rekt, you can simply connect a trustline to your cold storage, never move anything and receive whatever comes to you. No harm no foul. It's not like all these other airdrops bombed people out. Just saying.
LO, if you plan on swapping xrp for solo the day of the snapshot, solo price could be in the 4-5 dollar range by then and I could see many people who’ve loaded up selling before the snapshot for huge gains then buying whatever solo they wanted post snapshot.
I think we could see a big sell off immediately and then a slower drain off before the distribution. I originally calculated the fallout based on hard numbers and figured I could withstand a drop back to 10 cents (that’s higher than it was a month ago) and still come out ahead if I was guaranteed the drop figures. My concern is I’ll only get a fraction of what is being talked about due to the limited supply and that changes the ratio and my confidence in the numbers. I’m talking about trading into solo.
This isn’t an issue for folks setting up trust lines. Whether you get .2 solo or .002 solo, they were free, we can’t bitch too much about it.
If you are exchanging your xrp for solo and then back after the snapshot, I do see the potential for disaster. I’m glad you’re considering all options. I’m not trying FUD you up here, I just don’t want to see xrp holders get borked.
If I moved fasted and could have gotten into solo for under a dollar and this would be less of a concern. We’re already well past ATH and at these prices without a guaranteed number for distribution, I’ll only dip my toes so far.
I hope you kick ass with your transactions and make a boat load!
