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About Tovey79948

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  1. Hey, Thanks for creating this thread, I have enjoyed reading through it. Just a quick question. I noticed that you took a short position on face book on March the 14th. That was a great desicion as the stock went into freefall 2 days later on the 16th. Can you outline what information led you to take this short position. The negative story regarding use of users information by facebook wasn't public until the 16th. Thanks. And keep up the good work.
  2. @Coin_Hound I Have, you are right. Please add a definition for me
  3. From my extensive 6 months experience in the cryptocurrency world / sarcasm . Whilst the price remains relatively stable over the last few days I thought it might be fun to outline the new words that 6 months ago I had no idea existed and that over the last 6 months I have come to understand in new and different ways. OP - Original Poster. The guy who started the thread you are reading. Moon - Represents a significant increase in value. If used more that twice in same sentence, or paired with lambo, then block OP. Lambo - Lamborghini, Used by seasoned investors, in jest, to represent something nice they would like to buy when their investment matures. Also can be encountered used by 14 year olds who believe that their small investment can rise exponentially in 2 days. ATH - All Time High. The highest price that a coin has reached in its history. FUD - Fear, Uncertainty and doubt. Negative information spread about an asset purely to scare investors into closing their position. Spread about XRP by just about everyone involved in any other cryptocurrency. Last seen in action in early January whilst XRP rose to its new ATH. Market Cap - Possibly the most misunderstood number in crypotcurrency and an often quoted concept when trying to FUD XRP. In essence nothing more than the mathematical equation of multiplying the current market value and the amount of coins available. Shill - Basicaly about half of everyone who says anything about cryptocurrency on twitter. Shills will promote an investment they have in hope of increasing the price to make a quick profit. FOMO - The fear of missing out on a rise in value. First encountered by new investors around month 3 when they see a sure fire opportunity to sell and buy back in the dip. The sheer panic felt after selling and seeing anything green, grass, peas, mountain due, especially green candles, which causes you to buy back at a loss. Also the motivating factor behind investors that switch coins when they see any large percentage gains. TA - Techincal analaysis. Mostly just guess work in the cryptocurrency world. Usually encountered with phrases such as, ascending triangles, cup and handle, Fibonacci level and golden ratio. I don't think anyone really understands what these things mean. Whale - A person or comapany who holds a large amount of a particular asset. Used in conspiracy theory's to explain any bad performance of a chosen investment. Fiat - The enemy if you are on team Bitcoin. Realistically what we all cash out into. Government issued currency. HODL - This one took me a while. Often misquoted as "hold on for dear life". But in reality a meme from a misspelled attempt at typing the word hold. That's about it. It has been fun encountering these new concepts. Please add anymore that i have missed.
  4. @cuber I think if Crypto and XRP play out the way we want them to then there will be some big business available for tax accountants. Would be interested if anyone is aware of an accountancy firm that show some interest or specialise in cryptocurrency and its implications for capital gains tax.
  5. @jeromem75 Hey man thanks for the reply. I have only had a quick look at the capital gains tax implications here in the UK. If i understand correctly then i can make a profit of £11500 year tax year on my investments without having to pay capital gains tax. After that amount i pay tax at the rate i pay income tax. Not sure if this is correct mind, its just my understanding. I hope your plan works out for you man My only worry would be that if XRP hit say $40 i would be sat on a small fortune. It would be hard for me not to take some of that profit to achieve my real world goals. I believe in XRP and its potential but am also aware that it has many hurdles.
  6. This is mainly aimed at the guys and girls that invested around late December in the rush. Guys have a plan. HODL is great and i can see why in this market that it makes a lot of sense. Over time we have seen the vast majority of coins increase in value. But, i have also seen a lot of comments saying not to try to time the market. If this holds true on a micro scale,day to day trading, then it also holds true on a macro scale. What do i mean by this? Let's take an example. If you plan to hold until XRP reaches $20 then sell all. In this example if XRP reaches $19 and then corrects back down to $10 you never made your target. There is no guarantee that XRP will ever make that $19 again. Corrections are expected, and, overtime we have seen the price work its way back up. I believe that this is what we have seen this January. XRP is backed by a great team and solves a real world problem. This is why after a lot of research i believe that XRP is a great investment . But there is no guarantee that this all works out the way we want it to. You must do your own research and make up your own mind. I believe that a better way to form a plan around this investment is to have fixed price points where your sell a small percentage of your holdings to lock in profit. For example, 8% at $2.6 9% at $6.2 9% at $13.4 12% at $22.6 And so on........ These are just arbitrary numbers but i have in place a similar plan with my holdings. This plan should be continually reassessed, but assessed on the basis of news and company fundamentals, not on price. This selling on the way up plan also allows you to structure and capital gains tax obligations to better take advantage of tax free allowances. Each country treat capital gains tax differently but here in the UK you have a tax free allowance per year on your capital gains tax obligations. Any how just my 2 ripples, be interested to hear what you all think? Just wanted to say that this plan made the last few weeks much easier on me. I reassessed my plan and there was no bad news, nothing about the fundamentals of the company ripple (or XRP) had changed so I didn't make any rash decisions based on price alone. Go easy on me its my first post. Been lurking here since July so just wanted to say thanks for all the info and support since July 2017.
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