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bbearchell

Just hopped on XRP with a $1k investment! What have I gotten myself into!

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16 hours ago, bbearchell said:

I did $1k

I thought 1000 XRP - sorry - drunk brain I have sometimes - well 5000 XRP is even better !!! (I definitely can not afford to purchase this much - but if I could - I would of done it faster than a fox can catch a rabbit) :hunter:

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10 hours ago, robertbruce said:

yerr nahh, people say "only spend what you can afford to loose"! I say "spend twice as much as you can afford to lose and be prepared to sell". Thus, 1k is not enough. Double it up and move to a 5 figure hodl, that way you'll really "feel it".

Get on Bitstamp, and buy as much as you can with your credit card...It'll pay off...

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19 hours ago, bbearchell said:

For real though. Did a bit of research and had some expendable income so I threw some XRP's way. What do I have to look forward to? Should I invest more?

You can do 4 things IMO

1. Do your research and invest in your TA

2. Stay in Fiat (nothing wrong on doing this) 

3. Hold your XRP

4. Invest in XRP and speculate (Sell after the Escrow) 

Regards

 

Edited by Winteriscomming

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23 hours ago, bbearchell said:

Couple questions.

1. What in the world is Fiat? I don't understand what Google is telling me it is. 

2. How does taxation work with cashing out large gains?

 

 

1.) Fiat is a brand of a ****** car...but on this sub It is a currency without intrinsic value established as money. So bank notes... has value because you can spend them. Make sense or still too vague? If you see FIAT as bank dollars or euro's that might be the easiest way. 

2.) All depends on your passport and home address ;)

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On 15/11/2017 at 1:10 PM, bbearchell said:

1. What in the world is Fiat? I don't understand what Google is telling me it is.

The only 'real money' is Gold and Silver.

Fiat is a form of currency be it £, $, Euro .....  It has no value and is only an IOU or promise to pay the bearer X amount, which used to be linked to the amount of gold held by the issuing country.  Google gold standard, for more information.  However governments were not able to manipulate currency linked to gold, as they can with fiat.

If a government wanted to print more money they had to buy more gold. They all got rid of the gold standard because it was hard to print money to pay for war and during times of war people were exchanging paper money for gold in the banks, thus depleting the gold held in banks. That is why the UK stopped the gold standard.  

In the USA the founding fathers knew this and linked the USD to gold so that it was never to be used to remove wealth from the people in order to serve the government.  However this too was stopped.

As fiat currency is not linked to anything and only represents the trust people/governments place on it, governments all around the world can print lots of money, to transfer wealth from the people to the government.  By printing and spending the money, they eventually lower the value of that currency and if you hold it, your buying power decreases, thus value has been transferred from the people to the government. That is why Bitcoin has been seen as a new store of value.

Money printing is also known as Quantitative Easing, which can lead to hyper inflation, where $1,000,0000 can only buy a loaf of bread, when $1 was sufficient in the past.

Hope this helps.

 

 

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On 14/11/2017 at 5:52 PM, bbearchell said:

For real though. Did a bit of research and had some expendable income so I threw some XRP's way. What do I have to look forward to? Should I invest more?

@bbearchell I too have purchased some XRP, as it is a cheap investment that could offer good returns.

I have to take a vaired view on how much XRP will be worth in the future.  From my own research these are the possibilities;

5,000 XRP purchased for £0.16 /($0.21) costing £800  /($1,050)

Lowest estimate £1.60 per XRP = £8,000   /($ 2.11 per XRP = $10,550)
Possible top end £22 per XRP = £110,000 /($30 per XRP = $150,000)

Optimistic valuation £91 per XRP = £455,000 /($120 per XRP = $600,000)

@Gourlay, with 50,000 you would have between £80,000 /($105,500) and £4,550,000 /($6,000,000) from your initial investment of around £8,000 /($10,500).

We all wish XRP will hit the higher valuation, but you have to consider all options to make sure your investment is worth holding.  From these figures XRP is a safe investment compared to other Cryptos and has the ability to create real wealth.

Here are other comparisons using conservative figures, from Coincheckup.com  (they seem to have fairly accurate figures)

1 Bitcoin at £5,870 /($7,757) could earn you between £54,000 /($71,000) and £768,000 /($1,015,236)

1 Etherium at £251 /($332) could earn you between £2300 /($3,100) and £33,000 /($44,000)

1 Litecoin at £51 /($67) could earn you between £470 /($625) and £6,700 /($8,894)

1 Dash at £343 /($453)  could earn you between £3,100 /($4,100)  and £44,000 /($58,000)

1 Monero at £94 /($125) could earn you between £884 /($1,170)  and £12,000 /($16,000)

1 IOTA at £0.60 /($0.80) could earn you between £5 /($7)  and £79 /($105)

1 NEO at £32 /($43) could earn you between £272 /($360)  and £3,800 /($5,100)

This is where it pays to diversify your portfolio so that you are covered.

Personally I also hold almost 1000 IOTA, which I purchased at £0.30 /($0.40) and now it has increased 100%,

I plan to hold a mixture of the above and see what happens in the future. Below is my strategy based on investing £500 per currency;

Best performers based on highest price;
1. Litecoin = 10 potential is £4,700 - £67,000
2. Monero = 5.31 potential is £4,700 - £66,890
3. Ripple = 2918 potential is £4,668 - £66,228
4. Etherium = 2 potential is £4,600 - £66,000
5. IOTA = 833 potential is £4,166 - £65,800
6. Bitcoin = 0.08550 potential is £4,621 - £65,689
7. Dash = 1.44 potential is £4,500 - £64,000
8. NEO = 15.625 potential is £4,250 - £60,510

Most likely to achieve price;
1. Ripple = 2918 potential is £4,668 - £66,228
2. IOTA = 833 potential is £4,166 - £65,800
3. NEO = 15.625 potential is £4,250 - £60,510
4. Monero = 5.31 potential is £4,700 - £66,890
5. Litecoin = 10 potential is £4,700 - £67,000
6. Bitcoin = 0.08550 potential is £4,621 - £65,689
7. Dash = 1.44 potential is £4,500 - £64,000
8. Etherium = 2 potential is £4,600 - £66,000

What do you all think?

 

Edited by reas

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On 18.11.2017 at 12:04 PM, reas said:

@bbearchell I too have purchased some XRP, as it is a cheap investment that could offer good returns.

I have to take a vaired view on how much XRP will be worth in the future.  From my own research these are the possibilities;

5,000 XRP purchased for £0.16 /($0.21) costing £800  /($1,050)

Lowest estimate £1.60 per XRP = £8,000   /($ 2.11 per XRP = $10,550)
Possible top end £22 per XRP = £110,000 /($30 per XRP = $150,000)

Optimistic valuation £91 per XRP = £455,000 /($120 per XRP = $600,000)

@Gourlay, with 50,000 you would have between £80,000 /($105,500) and £4,550,000 /($6,000,000) from your initial investment of around £8,000 /($10,500).

We all wish XRP will hit the higher valuation, but you have to consider all options to make sure your investment is worth holding.  From these figures XRP is a safe investment compared to other Cryptos and has the ability to create real wealth.

Here are other comparisons using conservative figures, from Coincheckup.com  (they seem to have fairly accurate figures)

1 Bitcoin at £5,870 /($7,757) could earn you between £54,000 /($71,000) and £768,000 /($1,015,236)

1 Etherium at £251 /($332) could earn you between £2300 /($3,100) and £33,000 /($44,000)

1 Litecoin at £51 /($67) could earn you between £470 /($625) and £6,700 /($8,894)

1 Dash at £343 /($453)  could earn you between £3,100 /($4,100)  and £44,000 /($58,000)

1 Monero at £94 /($125) could earn you between £884 /($1,170)  and £12,000 /($16,000)

1 IOTA at £0.60 /($0.80) could earn you between £5 /($7)  and £79 /($105)

1 NEO at £32 /($43) could earn you between £272 /($360)  and £3,800 /($5,100)

This is where it pays to diversify your portfolio so that you are covered.

Personally I also hold almost 1000 IOTA, which I purchased at £0.30 /($0.40) and now it has increased 100%,

I plan to hold a mixture of the above and see what happens in the future. Below is my strategy based on investing £500 per currency;

Best performers based on highest price;
1. Litecoin = 10 potential is £4,700 - £67,000
2. Monero = 5.31 potential is £4,700 - £66,890
3. Ripple = 2918 potential is £4,668 - £66,228
4. Etherium = 2 potential is £4,600 - £66,000
5. IOTA = 833 potential is £4,166 - £65,800
6. Bitcoin = 0.08550 potential is £4,621 - £65,689
7. Dash = 1.44 potential is £4,500 - £64,000
8. NEO = 15.625 potential is £4,250 - £60,510

Most likely to achieve price;
1. Ripple = 2918 potential is £4,668 - £66,228
2. IOTA = 833 potential is £4,166 - £65,800
3. NEO = 15.625 potential is £4,250 - £60,510
4. Monero = 5.31 potential is £4,700 - £66,890
5. Litecoin = 10 potential is £4,700 - £67,000
6. Bitcoin = 0.08550 potential is £4,621 - £65,689
7. Dash = 1.44 potential is £4,500 - £64,000
8. Etherium = 2 potential is £4,600 - £66,000

What do you all think?

 

 

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