No1butsum1 reacted to easysunday in my 0.2 XRP why 1 XRP will be worth $100+ EOY. Your opinion?
So first of all, english is not my mother language and secondly filling out tax forms or even thinking about taxes are 100% horror.
But, none the less I wanted to share my opinion and would love to hear yours.
So here is my statement: XRP will be worth $100 or even $589 by the end on the year because of the FACTA Tax regulations in the USA starting on January the 1st!!
"In 2014, the IRS released guidance on virtual currencies (i.e. cryptocurrencies). Some highlights include:
Cryptocurrencies are treated as personal property (not currency) and are therefore taxed as capital assets
Capital gains from selling cryptocurrency for fiat currency (e.g. USD) or using cryptocurrency to purchase goods or services are subject to capital gains tax
Cryptocurrencies that are obtained from mining are taxable as income at their fair market value at the time they are received"
that means: All US citizens and also those abroad will have to pay 30% tax on these capital gains!
https://www.goldinglawyers.com/fbar-bitcoin-2017-2018-important-cryptocurrency-reporting-tips/ stated here: the reason for these capital gains taxes are that the cryptocurrencies are NOT finite as gold is.
So here come XRP in. Its an asset, its not mined, and its finite! So therefore it must be seen as gold!
There is already an open letter signed as IRS has to decide soon. To be more specific:
"Finally, the lawmakers gave the IRS until October 17, 2018, to respond with an update on its effort to issue the comprehensive guideline and a timeline for its release."
Also interesting: https://moneymorning.com/2018/03/28/crypto-taxes-are-a-mess-heres-what-the-irs-needs-to-fix-before-2019/
So what happens it bitcoin gets dethroned and all starts to buy premined cryptos? What if premined will also be not excluded and only XRP as never mined will survive this tax issue?
Your opinions please
P.S. looking in my crystal ball again, I see Citygroup and Alipay merging Q1 2019 and using xrp to handle transactions
No1butsum1 reacted to instacharisma in XRP medium-term price analysis
That's very understandable and a shake-out can be very explosive with extreme prices albeit probably for a very short time. Do not forget that a lot of people will regard upper 20s a premium price and will get in, so I wouldn't worry about it too much.
It is better to think ahead what you will do when the price reaches $1 or above. You don't want to sell in panic when you see big red candles, but you don't want to sell in greed when you see big green candles either.
Therefore it is of the utmost importance that you plan your trade in advance and then trade your plan along the way.
No1butsum1 reacted to XRPto50dollars in Charts - How To's
i havent done a chart in a while.. this is what im looking at:
its all about volume. volume often times precedes price increases. notice before the $3 run there was a major spike in volume (in the redish box).
then notice the next three consecutive attempts to move higher did indeed move up in price, but there was barely any volume.
now notice the current increase (second green check mark)... huge volume.
its very possible we close around $1 or more by the end of the year.
..all a guess.
not like i have a time machine or anything.
No1butsum1 reacted to Seoulite in Coinbase exploring the addition of new assests results in XRP price spike
With respect I think you guys are too focused on the North American market. It's understandable because this is an English language forum and most of the users are going to be from NA, and Ripple is an American company. But I see this a lot, even with well-known American intellectuals who say "the world" when what they really mean is "the West" or "America". It's worth checking yourself that you are not tunnel-visioned.
Look at the xrp volume and how much of it is coming out of Asia. There are countless millions of people here who are wealthy and at least as tech-savvy as the average American. These people have their own exchanges and have never even heard the name coinbase.
Things to get excited about the growth of XRP are the fundamentals. For the wider crypto market, get excited about institutional money. Stop looking for retail investors from one country in the world to come and boost XRP. Zoom out. The world is changing. East Asia is not anymore some benighted land where people look in awe at the US. I'm talking in terms of infrastructure, lifestyle, wealth, and yes technology. The global leader in supercomputers is China. Go ride the train in Japan. You might be surprised how far things have developed in the wider world.
No1butsum1 reacted to XRPto50dollars in Avocado Tree Time Machine
literally... my tree grew an inch over night.
so apparently @Flintstone knows what hes talking about. although it freaked me out to cut my 9"+ tree in half several weeks ago, it seems to be paying off. instead of a thin, lanky tall tree with leaves only on top, i now have a 'top' forming with several branches forming.
This is what it looked like before the cut...
No1butsum1 reacted to Chewiecoin in I Have Been Wrong This Entire Time. Sell Your XRP Now Whilst You Still Have a Chance!
It's Time to Sell
After reading some excellent posts on XRPChat and Twitter and reviewing some YouTube videos and watching CNBC I have finally come to the conclusion that I have been wrong this entire time. XRP is a terrible investment, it will most likely fail, along with the whole crypto market and blockchain tech.
Ripple and XRP are the Same
Ripple has created its token called XRP but they control most it. They say its ledger, the ILP, will be fully decentralised by the end of the year but can you trust them? Don't believe the reports you hear about BTC being under control (greater than 50%) of Chinese miners so therefore it is more centralised than XRP that is just not true.
We know Ripple and XRP are the same thing. Its always been called Ripple. Ripple is XRP and XRP is Ripple.
Ok so maybe they are different? I still don't buy it.
xCurrent Partnerships are Dubious
Ripple created xCurrent so that FI's could transfer money within seconds around the World and say that they have nearly 200 customers. And sure Asheesh Birla SVP of Product @ Ripple, says Ripple aims to have 1,000 customers by the end of next year but that's pie in the sky. Go one give me something concrete:
And yes I have seen the video of Asheesh saying that Ripple has "50% of the market, either signed or in the pipeline" in India but what does that mean? India is not a very big country and doesn't do much global trading? Does it?
What about other countries/regions. I don't hear any discussion about Ripple doing anything outside India. Ok well, there is this Vision 2020 thing in the Gulf States/UAE but again nothing concrete yet, I don't see XRP's price moving because of it.
And don't believe the International Monetary Fund when they say that Central Banks should be working towards a digital reserve currency, what would they know?
Sure, ok but Central Banks won't work with Ripple!
That's only a few Central Banks though!
No One is Using xRapid
Don't get me started on xRapid! xRapid is supposed to be Ripple's tool for FI's to send XRP i.e transferring value to each via cross-border payments in seconds at a fraction of the cost. I hear there is supposed to be 40% to 70% savings to the FI's and the potential to remove up to $20 Trillion in dormant capital laying around in nostro/vostro accounts. Please!! No FI's are actually using xRapid are they? Can anyone actually name all the supposed partners testing or using xRapid and xCurrent, no they can't? Oh well ok, there is this:
So maybe a couple of FI's are using xRapid and xCurrent?
XRP on Exchanges
XRP is not on Coinbase so therefore no one is ever going to buy it. No exchanges will want to list it. Yes, I know about SBIVC (Japan) DX.Exhange EU, The Crypto Exchange (Australia) and Unodax (India) but they won't bring any new customers in. If you wanted to buy XRP you would have done so already.
The Cryptomarket and BlockChain is Dead
The crypto market and XRP are dead. Don't look at the charts showing BTC going from cents in the dollar to $20,000 in 7 years or Ethereum going from cents to $1,000 in two years or XRP jumping 56,000% in 2017. This won't happen again, ever.
Anyway, blockchain tech is dead it won't lead to anything. Hedge funds will never invest in it:
Hmmm ok maybe it will but I'm still going to ignore all of this and state very stubbornly that XRP is still going to fail
And yes in case you were wondering I do sometimes indulge in the lowest form of wit!
No1butsum1 reacted to Merxy in I Have Been Wrong This Entire Time. Sell Your XRP Now Whilst You Still Have a Chance!
Not sure why you like to keep making these kind of posts for the last few weeks,feels like you're just trying to comfort yourself whenever the price is tanking
No1butsum1 reacted to Arrowfletch in Evidence that todays (and last years action ) is almost completely bitcoin related
Lots of people have been saying "dont worry , this is just bitcoin effect" but I haven't seen supporting data.
Here is evidence
This is a graph of the relative daily price changes for BTC,LTC,XRP,Stellar.
If there is no correlation than most days there should just be a blur of color around the X axis.
If there is complete correlation than only one line will be observed.
I will leave the analysis to the reader
No1butsum1 reacted to Eric123 in Cup & Handle Bitcoin Daily Chart
Alright I'm going to be the first to make this call (that I know of anyway). I've seen articles about bitcoin making a "reverse head and shoulders" no, the first drop was too low - it would be a reverse head and shoulders if someone suffered a severe auto accident. (anyway the result is going to be the same) We are looking at the beginning of the upward slope of a "cup & handle". What do I base this on? Several things, studying the bitcoin chart history mainly - but it is also based on - Astrology, Numerology, Trigonometry, Geology, Archaeology, Scientology, an Apology I once received when someone bumped into me at the supermarket - as well as a dream I had. Yeah have a laugh, insult me if you must - but remember you heard it here first.
Now that's for bitcoin - what does that mean for XRP - I'd say probably a dramatic move preceding the bitcoin move (I bet we move first). I would not be comfortable being on the sidelines right now. I suspect the move will take place in the next two weeks - again based on all the above. If this works out and you feel compelled to send a tribute - it would be nice if you bought a star and named it Eric123.
No1butsum1 reacted to XRPto50dollars in Avocado Tree Time Machine
Avocado Seed update
Now with only 247 weeks remaining, the avocado seed is rapidly growing! Check out the growth from today compared to just six days ago (scroll up)..
Live Countdown: https://www.timeanddate.com/countdown/generic?iso=20230204T00&p0=%3A&ud=1&font=cursive
No1butsum1 reacted to KarlHungus in XRP & Derivatives, we are invested in a sleeping giant.
It’s more than half empty, but it isn’t his cup.
No1butsum1 reacted to rainbowhunter in UK Crypto Tax
If you create a trust with a value in excess of the Nil Rate Band (currently £325k) then anything in excess is subject to an immediate 20% tax charge. Lots of ways to manage IHT, not least gifting, outright gifts are unlimited and not subject to IHT if you survive 7 years