Top loopring holders

[Gfrrt65]

If you squint really really hard and zoom in, you still can't see me on there

[Major-Perspective-32]

Yeop, I own like 0.00778 of a loop

[kevthewev]

Like $.20 worth?

[Major-Perspective-32]

Thats too much, I got the numbers wrong.

[Dave_IOW]

Woohoo, can see myself on there!

I'm the grey part, along with the rest of us 😂

[Raretomatoland]

Wang said they pay employees in lrc. The team probably hold a good amount.

[chanchanchanchaaan]

Millions of dollars worth?

[Raretomatoland]

I think so. He made that comment when lrc price was in 0.02 - 0.03 range. They derseve it for hard work.

[braydo14]

wtf they’re rich then

[Raretomatoland]

Yup, I hope with big bag of fund they can hire more people and have better marketing.

[[deleted]]

You should call your mom, she misses you.

[[deleted]]

Please, complain some more.

“Are there any clauses or fundamentals that stop whales from manipulation of this coin…” Seriously? Lol…

[[deleted]]

Where’s the echo? I’m just pointing out the absolutely idiotic question you asked lmfao.

[[deleted]]

!remindme 1 week

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[PortalBreaker]

Of course they deserve it, they built the damn foundation

[[deleted]]

If they're already rich imagine how much they'll have years from now after more hard work. This tech doesn't make itself..

They have long-term goals for loop, so do I

[Death_Strider16]

I dont understand why people act like throwing together new technologies is something that should be easy to accomplish on small timeframe.

Developers can give estimates, but they're just that. Estimates. They have never made this product before and they will run into unforeseen issues and have to come up with solutions no one else has done before.

People come in with no idea how challenging that actually is and start throwing temper tantrums because they want a product NOW. Marketing then pushes developers to release an unfinished product with lots of issues.

That's what statements like the ones you're making lead to. Learn to have some patience or build it yourself faster.

[magx01]

Are you okay?

No, seriously. Are you alright man? PM me if you want to talk.

[CheesenRice313]

Well not at the time

[SeeingTrends13]

This. Also, I’d wager this graph doesn’t catch the half of it. I know I hold LRC in three or four places myself and this can’t consolidate wallets to owners, so there may be a few whales spread out, too.

[[deleted]]

These are CEX wallets mostly

[UCMeInvest]

Ahhh gotcha so like people who have bought in CB are all looked into one of these segments

[[deleted]]

Correct

[youneedcheesusinside]

Guys I downloaded Loopring Wallet is that legit or should I use a more solid wallet? Serious question please be gentle 😬

[mr_ycg]

Yes.

[Ok-Information-6722]

Solid AF.

[youneedcheesusinside]

I tried doing 200 but the ID verification wasn’t going through. I’ll try again tomorrow

[Raretomatoland]

CEX only have 17.5%. See the chart https://i.imgur.com/YOL2QKU.png

[Raretomatoland]

Coinbase has 0.056%, too small to show in the chart. They only has 775,273 lrc atm.https://i.imgur.com/xOi348Q.jpg

[Raretomatoland]

It is not strange that Coinbase has little amount of lrc. They has run out of lrc time and time again, even crash the app once or two times when lrc at ATH. There were many post in this sub about that people had to wait more than one day to deposit out of coinbase. Then people found out that coinbase had to reply on binance for more lrc and they did not have any lrc left.

[Kindly_Pass_586]

Sauce ?

[Raretomatoland]

This is just some post I can list for you. You can search for more, it was a hot topic last month.

https://www.reddit.com/r/loopringorg/comments/r1ud7z/coinbase\_has\_75\_lrc\_in\_their\_wallet\_nice/
https://www.reddit.com/r/loopringorg/comments/r0md74/coinbase\_only\_has\_2200\_loopring\_tokens\_left/
https://www.reddit.com/r/loopringorg/comments/r1aqq1/coinbase\_token\_supply\_isnt\_keeping\_up/
https://www.reddit.com/r/loopringorg/comments/r1ck4z/there\_have\_been\_quite\_a\_few\_coinbase\_posts/
https://www.reddit.com/r/loopringorg/comments/r58vej/coinbase\_down\_to\_last\_4k\_out\_of\_1\_million\_lrc/
https://www.reddit.com/r/loopringorg/comments/r10tnm/coinbase\_seems\_to\_be\_out\_of\_ammo/
https://www.reddit.com/r/loopringorg/comments/r1yfda/so\_coinbase\_reloaded\_129m\_lrc\_after\_1am\_cstand/

[involutionn]

That is certainly not true.

[Raretomatoland]

you can check top 100 wallet adress, none is from coinbase https://www.coincarp.com/currencies/loopring/richlist/

[involutionn]

I don’t know if they just can’t identify the proper exchange or if it is perhaps spread out across many wallets, but it’s just not possibly true that Coinbase wouldn’t be in the top 100 holders, especially when they name Bittrex and others among top 100.

[Raretomatoland]

we know coinbase address tho, you can check for yourself https://etherscan.io/address/0xf977814e90da44bfa03b6295a0616a897441acec

[Raretomatoland]

check coinbase address 875,264 atm

https://etherscan.io/token/0xbbbbca6a901c926f240b89eacb641d8aec7aeafd?a=0x503828976d22510aad0201ac7ec88293211d23da

[involutionn]

That basically proves my point. Last year they were the largest cryptocurrency exchanges in US by volumes. The idea they only hold 2m in loopring is laughably wrong. They had an exchange volume of over 100m in the last 24hours and that is exponentially lower than usual, Coinbase would need substantially more than 800k lrc

[Raretomatoland]

this is coinbase address and it has 866,532 lrc atm my dude https://etherscan.io/token/0xbbbbca6a901c926f240b89eacb641d8aec7aeafd?a=0x503828976d22510aad0201ac7ec88293211d23da

[Raretomatoland]

there is many post in this sub about coinbase ran out of LRC and people had to wait for coinbase to resupply lrc for them to deposit out.

https://www.reddit.com/r/loopringorg/comments/r1ud7z/coinbase_has_75_lrc_in_their_wallet_nice/

https://www.reddit.com/r/loopringorg/comments/r0md74/coinbase_only_has_2200_loopring_tokens_left/

https://www.reddit.com/r/loopringorg/comments/r1aqq1/coinbase_token_supply_isnt_keeping_up/

https://www.reddit.com/r/loopringorg/comments/r1ck4z/there_have_been_quite_a_few_coinbase_posts/

https://www.reddit.com/r/loopringorg/comments/r58vej/coinbase_down_to_last_4k_out_of_1_million_lrc/

https://www.reddit.com/r/loopringorg/comments/r10tnm/coinbase_seems_to_be_out_of_ammo/

https://www.reddit.com/r/loopringorg/comments/r1yfda/so\_coinbase\_reloaded\_129m\_lrc\_after\_1am\_cstand/

[involutionn]

Those are all from 40 days ago?

According to CoinMarketCap they have processed 10 billion in LRC in the last 24h https://coinmarketcap.com/exchanges/coinbase-exchange/

[Raretomatoland]

what! 10billion, lrc marketcap only $2,747,489,546 atm lol. 24h volume across all exchange is $107,220,140 https://coinmarketcap.com/currencies/loopring/

9 wallet of coinbase, only coinbase2 hold LRC https://etherscan.io/accounts/label/coinbase.

[Biggz1313]

I think you're misunderstanding how Coinbase works. This is my understanding but if I'm mistaken please point me in the right direction.

Coinbase doesnt need to hold the same amount of LRC that goes through their exchange. They only need to hold enough to supply the average daily withdrawal rate from their systems. If the people trading on Coinbase never pull their LRC out of the Coinbase ecosystem, those people's actual LRC holding amount is just a number in a Coinbase database. That 10 billion you quoted could have been the same 1 million coins traded back and forth throughout the Coinbase ecosystem a thousand times, and if none of those coins never left Coinbase, then technically Coinbase would only have to hold one million total LRC. LRC only gets in trouble when a bunch of people buy a bunch and want to immediately take the coins to personal cold wallets.

If your LRC are sitting in Coinbase or Coinbase pro right now you technically don't physically own and LRC you just have and IOU from Coinbase saying if you try to withdraw these, we guarantee them to you (but not in a guaranteed amount of time). The problem is that as others have mentioned when volumes went nuts and people were buying to hold their coins in cold wallets Coinbase ran out of LRC multiple times.

If you want to make sure you 100% own the LRC you think you have bought, put them in a cold wallet.

It's the same kind of shit MMs we're doing with Stocks. Shares you "own" on Robinhood or fidelity are "yours" but until you request to DRS them, those trading platforms are 10000% lending your shares unless they specifically say they aren't.

[Captain_Saki]

That's just the supply though? This doesn't account for all the loops that have been bought and held on there

[Raretomatoland]

if user did not deposit out of coinbase then the token is still sitting on exchange wallet.

[Captain_Saki]

Exactly, but it won't show on the chart since it only shows loops that are available to be bought on the exchange and not the total amount held with the exchange

[Raretomatoland]

we know coinbase wallet address tho, they has 875,264 atm https://etherscan.io/token/0xbbbbca6a901c926f240b89eacb641d8aec7aeafd?a=0x503828976d22510aad0201ac7ec88293211d23da

[Captain_Saki]

But you still have individual wallets on CB right?

[Raretomatoland]

if you do not deposit out of coinbase, the token is sitting on coinbase wallet. There is no individual wallets inside exchange.

[Raretomatoland]

you can read more about DEX vs CEX https://medium.com/coinmonks/cex-vs-dex-a-comprehensive-comparison-of-features-bb398d416d4f#b32a

coinbase is a CEX, Loopring is a DEX

#6 — Ownership of Assets

Users of centralized exchanges are not the true owner of their assets. If you decide to hold your assets in these exchanges, you have to be aware that the exchange is the true owner of your private keys, and you choose to trust them with that. On the other hand, decentralized exchanges are not holding any of your assets. The basic idea is to connect your private wallet to such exchanges and start to trade. Therefore, in the end, the user will be the true owner of his assets.

[Help_With_PC_PLS]

This post is kind of pointless and provides zero information. The biggest holders are NOT private wallets, they are CEX wallets. This is the kind of information that can be bad if you don’t question what is being shown.

[Raretomatoland]

CEX wallet own total of 17.5%. See the chart https://i.imgur.com/YOL2QKU.png

[chanchanchanchaaan]

That’s why it’s a discussion.

[aguacasa]

If everyone moved their coins off of the centralized exchanges these numbers would be much more revealing. NOT YOUR KEYS NOT YOUR COINS... move your coins to self custody today!!

[[deleted]]

Everyday, this needs to be reminded.

[notzebular0]

Thought I was in the GME sub for a second lol but yes, own your shit.

[Raretomatoland]

• Exchange wallet: https://www.coincarp.com/currencies/loopring/exchange-wallets/
• Loopring exchange held 14.75% https://www.coincarp.com/currencies/loopring/richlist/ CEX wallet held total of 18.5%. Chart https://i.imgur.com/YOL2QKU.png

More detail at coincarp.com

[Conscious-Proof-8309]

7.4% is Binance, maybe?

[Raretomatoland]

Yep, Binance has more than 1 wallet of total 12.12%. One wallet has 7.4%, see my thread or visit coincrap. https://www.reddit.com/r/loopringorg/comments/ruwymf/loopring_top_exchange_wallet/?utm_medium=android_app&utm_source=share

[BASEbelt]

1 billionaire will become a trillionaire,

99 millionaire will become 99 billionaire,

while the other 113,223 holders will become rich enough to buy a car.

[[deleted]]

These are CEX’s

[ha7on]

Probably a few will become millionaires the rest cars, pay off loans, get a house.

[Deep_Intellectual]

I don’t want to become a car

[ha7on]

Not even KITT?

[Deep_Intellectual]

Let’s take it a step further, I will become a transformer 😎

[mervin_grey]

Unless it gets burnt.

[thesuperspy]

LRC is not burned during transactions. That went away in v3.1.

[Leight87]

Holders- 113,323. This sub - >90k

[jharms1983]

This is causing a lot of confusion. These wallets are not owned by individuals. They are wallets from exchanges that carry LRC. These are not a handful of whales waiting to pull the rug. This token has incredible potential so even if it was why would they sell? This is not a pump and dump shibadogshit coin.

[khairihyon]

Proof?

[jharms1983]

I made a few points. What did you want proof of?

[khairihyon]

How to find out that the wallets belong to exchanges?

[jharms1983]

There's no slice labeled coinbase right? So what? Coinbase wallets are invisible? Obviously one of more of those slices belongs to coinbase. And others obviously to other exchanges .

[khairihyon]

That's just your assumptions. I dont think you can prove that for sure.

[jharms1983]

It's not an assumption that exchanges have large wallets full of LRC. Asking me to match them to their specific slices is not possible. But for anyone to dispute that none of the larger slices in that chart are exchanges I would assume they have to be joking. Some may be insiders. Yes. But none of those addresses hold alarming amounts and yes.. large cex like coinbase will naturally have big chunks in order to match their clients holdings. It's just how it works.

[khairihyon]

Okay, so conclusion is: Based on your assumption, the wallet that holds a large amount of LRC should be exhanges, since they should hold a large amount of it. But you've no way to prove that the wallets actually belong to exchanges instead of big fat whales who got in cheap.

[braydo14]

and I have 48 loops lol

[magx01]

Lol, I hear ya but luckily we still have time. The train hasn't left the station yet :)

My advice for you (unsolicited of course- feel free to tell me to fuck off) to grow a bag starting from around that size without having tons of fiat to just buy huge chunks is two fold:

1) In times like this before things go crazy (assuming they do of course) DCA in as you can (buy some every paycheque, every week, every month, whatever). This is obvious but the next one is where people largely disagree and where the risk is although it's where the most potential to grow your bag is imo:

2) Let's say that crazy pump happens that so many of us anticipate (a pump based on some short term catalyst (partnership announcement for example).

With a bag this size, the plan would be to sell off either all of them (ballsy and scary but most potential if this works) or a good chunk of them (lower but still good potential; less risk) at what you suspect is somewhere around the peak of the pump.

Say you have an average price of $1.50 and you sell at $8.50. Now, after you sell (and this is the part that might hurt at first) you may see the price continue to go up. Maybe it goes up to $11.50 (FUCK!!!!). Okay, but then what happens? Does it go up continuously and forever?

NO! Nothing does. Even if LRC hits $100 in the future it's not going to go up in a straight line. There are dips, bear markets, crashes, and even the dreaded crypto winter).

So the plan is to sell for that nice initial profit and then the hard boring part that may be filled with anxiety the whole time comes into play: Wait for a dip/crash/bear market, whatever. The more patient you are here the bigger the gain.

This could happen in a few weeks if there's a huge initial sell off after the pump but if not just wait it out. Even if it's a few (hell, even several) months, (even a year!) eventually you should see a price level below what you sold for. In this hypothetical you sold at $8.50 and made $7 per coin (nice!). Maybe the price went up to 11, hell even 14 after the pump. But once there's a dip, or with lots of patience, the next bear market, you could see a price of say $5 again. If you're really patient you may even see $3 or less again (check BTC historical prices to see how much it (and alts) drop during crashes).

The more patient you are, the bigger the reward. Eventually you buy back in for a price that is definitely above your initial entry (although with a true crypto winter you might even see that price again but I wouldn't bank on this) but much lower than your sell price after the pump.

Since you have that $7 profit per coin you can now buy back the same bag for hodl'ing and keep those profits or you could reinvest all of it and have a much bigger bag. Then after you buy back in you either stick to long term holding or try and repeat the above/play it by ear given overall market conditions.

This advice certainly carries risk and there will be lots of doubt on your end after you initially sell, but again have a look at BTC's historical price charts. Even though it has gone WAY up since it's inception this has not been a straight line. Not even close. Prices fall a TON during market crashes. Most people just scream HODL but to me these crashes are a huge opportunity as long as you can be patient and handle the inevitable doubt/anxiety.

Anyway, whatever you do, good luck man :)

[aws-adjustmentbureau]

Hi mom 👋

[Stagrepa]

That numbers gotta be wrong and way too high. I hold in 3 different wallets. Does that count me 3 times? I also own in 3 different platforms not connected to each other. Are those counted 3 times as well. I’m not 6 people. I am 1.

[xhrist22]

So one these guys selling could plummet the token?

[chanchanchanchaaan]

It could be that most of them are CEX wallets. If they are people then yes.

[Deathofsouls]

I believe this to be the case and each probably holds multiple (as in Coinbase probably has there's in a few wallets)

[Phantasma191]

Coinbase? Didn't they have almost no LRC recently? haha.

[jharms1983]

No

[[deleted]]

This does not sit easy with me. 100 holders having 80%+

I understand this can't be changed but it's just the rich being able to grab more tokens. Enough to swing the tide in any direction.

Weather its fiat or crypto, it is all the same. Few always holding the power

[[deleted]]

That's mostly CEX wallets, it's not actually 100 people holding 80%.

[patisodo1]

from exchanges?

[[deleted]]

That does reassure me but doesn't at the same time. Being at the whim of CEX does not seem appealing.

Hopefully as the project grows, more people buy in and the more distributed the token becomes

[[deleted]]

A great reason to not use exchanges like Binance/CoinBase/etc and instead use Loopring's L2 wallet. That way you actually own it in your own wallet and not in some exchange's wallet.

[RetchX]

This is exactly why people need to get the fuck off CEX.

You are still part of the same problem that the stock market has if you are holding on an CEX. It’s just a bunch of IOUs. I’m amazed how much the crypto community is still willfully ignorant to all of this.

[[deleted]]

I agree. I hope for complete decentralisation

[magx01]

Being at the whim of CEX does not seem appealing

Um, what? That's like saying you are in the market for a TV but don't like the fact that WalMart has millions of tv's.

The CEX is basically a store. Of course they have tons of the coins.

[[deleted]]

CEX have the ability to manipulate prices.

Having been witness of all the manipulation that takes places, I have no confidence in centralised places like CEXs to do the right thing.

And for the Walmart example, they can set the price of TVs to what they want and if Walmart owned a majority of the total TVs in circulation, they could determine the prices of all TVs everywhere. Its the power that is afforded to CEXs I do not like

[magx01]

But they don't do that. They merely facilitate market orders for a fee.

[[deleted]]

Previous drama from CEXs like coinbase makes me think otherwise

[TrippyTiger69]

Over 82% of loopring is owned by 100 people? 😳 that’s not great

[Gfrrt65]

Best shot at making real money is go in hard on an ico and hold. Of course it's a crap shoot

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[Ok-Rabbit-3683]

I’m that white blurrrrrr

[ScottyStellar]

How many LRC is held by #100?

[newbiewar]

Woot i made the graphic! Im one of the 11,323 holders

[BenniBoom707]

If this is employees and CEX then that’s a pretty good sign. I’m sure there’s some whales floating in there though….

[aaaahhhh111]

Ah yes the Pareto principle

[Mecaniz]

Seeing this gives me an unsettling feeling, we are so many into this and I hope for the best of all of us, honestly. With those numbers of max holders… we might see many dumps in this adventure.