Jump to content

ManBearPig

Member
  • Content Count

    141
  • Joined

  • Last visited

1 Follower

About ManBearPig

  • Rank
    Regular

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. You have a better chance of striking a conversation with someone to be an advocate of who makes the best designer socks versus supporting that darn drug dealing crypto gambling!
  2. After you pay off your high interest revolving debts... After you have a 3-6 month emergency fund set up in your savings account... Extra money up to 0, it's okay most of us have been there, find a way to make more income. Extra money up to 10K = 50% of your liquid investable assets after revolving debts paid off and emergency fund established ($5,000 USD = 15,000 xrp) Extra money up to 50K = 33% of your liquid investable assets after revolving debts paid off and emergency fund established ($16,500 USD = 49,500 xrp) Extra money up to 100K = 25% of your liquid investable assets after revolving debts paid off and emergency fund established ($25,000 USD = 100,000 xrp) Extra money up to 250K = 20% of your liquid investable assets after revolving debts paid off and emergency fund established ($50,000 USD = 150,000 xrp) Extra money up to 500k = 15% of your liquid investable assets after revolving debts paid off and emergency fund established ($75,000 USD = 225,000 xrp) Extra money up to 1 mil = 10% of your liquid investable assets after revolving debts paid off and emergency fund established ($100,000 USD = 300,000 xrp) Considerations: If profits are being reinvested from past bull runs, the percentages can slide higher than portrayed above. The above example hypothetically goes all-in on xrp. Investing all-in on a single asset within an asset class is never wise. Not one size fits all. Risk tolerances, marital statuses, age, opportunity costs, experience with crypto, and socio-economic conditions all affect how much you can afford to speculate with. These are only opinions, not financial advise.
  3. @dr_ed Are you a fan of owning gold related investment vehicles, such as ETF's, or is a more direct ownership of gold preferable?
  4. Not to sound argumentative, but if someone came up to me and wanted a significant amount of money after telling me most of their liquid savings is tied to crypto, I would not want give them any money either. The crypto markets are still too immature, underdeveloped, and volatile to be held in the same regard as traditional assets. Perhaps that can change in the future.
  5. Can’t afford to take my day job off, so no but would definitely experiment with a smaller stash just like you are doing if i had the time.
  6. I am at a net loss on crypto on what I have sold so far, and could have wrote off some losses for a higher refund but still didn't decide to report it. Everything I have made gains from I am still Hodling.From what I have read, there is no penalty to pay if you do not report something in which the IRS owes you money. I have dozens upon dozens of dollar cost average purchases during a year long bear market utilizing multiple exchanges and converting different crypto pairs back and forth has left me with an accounting nightmare in which I decided to kick the can down the road. I have no intention of hiding any future gains. I would try to come up with a cost basis of each crypto which would be much easier if the Tokenization Act would pass congress eliminating the tax event of exchanging a digital asset for a digital asset, similar to that of trading stocks.
  7. I would recommend setting up both Uphold and Coinbase, those are the two most user friendly. Get Verified. You want to have multiple ways to buy XRP as well as have multiple ways to sell XRP. Add in Bittrex later when you have time. Set up Dual Factor Authentication and make sure you save your recovery seed in a secure place. Get a Nano Ledger S only direct from the nano ledger S website, and when it arrives it will probably take you a couple hours at the computer to figure out how to set it up and familiarize yourself. Once you have everything set up, just download the Uphold or Coinbase Apps as well as the Nano Ledger Apps to your phone. You can transfer your XRP from the exchange to cold storage easily within seconds anywhere you go (I say its easy but I remember it is stressful the first time you do it, so watch a youtube video). If you want to do it the other way around and withdraw it out of your cold storage Nano Ledger back onto the exchange to sell, you will need to have the ledger device plugged in and unlocked to do so. Good luck. Edit: Speaking as an American.
  8. There is another late Cold Front moving across Canada and the tides of England and Wales in the Severn Estuary remain calm leaving inconclusive evidence of a premature bull run. While the winter wheat crop success in Australia could be a game-changer for the blockchain industry, a reversal from capitulation will not emerge until the roosters are crowing and the cows are spinning circles in the pastures.
  9. Hodor's Blogs = The no FUD Zone. There have been so many wild goose hunts recently trying to decipher what news is real concerning XRP. Reading these blogs has become a routine fact check of my own brain to make sure I am not believing something that was completely fabricated. I was disappointed to find out that the buy a taco - get 10 XRP free deal at Chipotle wasn't real. Did I read that on Twitter or Reddit? Maybe I just dreamed it.
  10. I don't disagree with you, but what is safe anymore? Equities are coming off their longest bull run in history and have been artificially inflated due to government policy's intervention. Big Tech stocks are shakier than anyone could have imagined a year ago. The US Dollar can't hold up against unsustainable unfunded liabilities, debt, and interest rates forever. That leaves tangible assets such as real estate and gold, and only one of those is inversely related to economic downturns (gold). Why not hedge a well diversified portfolio with a few percent of the digital version of gold, along with some high potential cryptos which are currently fresh off a deep correction. If mainstream investment portfolios reallocated just a tiny portion of their balances into crypto, possibly coming at the nudge of another recession, that would turn me bullish.
  11. I agree with you in the vision that Cryptos become a sort of safe haven for the deflationary properties of a finite asset, similar to gold in the event of a financial meltdown. I have heard an argument that In a contracting economy there will not be as much money available to invest in cryptos so the crypto market will tether with the equities (stock) market. While that may be true for the average joe retail investor, I can see some reallocation of high net worth individual’s portfolios begin to get some exposure into cryptos that would spike demand. The inverted yield curve has predicted every recession in the past 50 years, which historically has it following 10-30 months from today. The SEC is likely not protecting conventional equities markets, but certainly at the hands of the federal reserve by controlling the money supply through interest rates who just recetly announced there will be no more increases this year signaling they fear a slowing economy. They have also artificially inflated the economy the past decade through treasury buybacks (quantitive easing) during Obama’s presidency. Trump and Congress are temporarily pumping money into the economy with the tax cuts and you better believe republicans will do anything they can tod continue to inflate things with an election year coming (Democrats would do the exact same thing). When the recession does inevitably come, it is going to especially hurt due to the fact that unlike credit bubble of 2008, the USA can’t afford to spend their way out this time without major consequences towards inflation and unsustainable debt levels.
×
×
  • Create New...