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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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