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Sold My XRP Today - Here is why

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36 minutes ago, cmbartley said:

Depending on your entry price, level confidence, how badly you need the fiat right then, and your time horizon, selling even as it downtrend might not be for everyone. Buffett works the power of compound gains by not selling so he can't avoid taxes. The taxes can be brutal and really chip away at your opportunity for even larger gains down the road. Again, depends on your entry price, needs, and level of confidence. He was not so confident.

Taxes are exactly why I don’t try to trade.  Even if I did gues right on timing I may lose out to the government in the end.  I’m hoping that I only have to ever sell once, or never at all.

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5 hours ago, Kalarie said:

Taxes are exactly why I don’t try to trade.  Even if I did gues right on timing I may lose out to the government in the end.  I’m hoping that I only have to ever sell once, or never at all.

well what you can do is if you see profit you don't have to cash out but what you can do is exchange back to BTC and hold it in your ledger nano then when xrp drops again you can have re buy it back 

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4 hours ago, kenrino said:

trade between crypto is not taxed in a lot of countries

The last IRS guidance (USA) I saw said that every transaction, even between cryptos was a taxable event.  Isn't that why they asked Coinbase to turn over the history of every account with $10,000+ in it?

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Well, I spent some of my spare time today reading this entire thread. While he was selling I was peaved because I couldn’t get in. I had been trying since early December and was SO mad that I couldn’t get approved on any exchange. Now my DCA is somewhere right around $.45 so I am feeling pretty good. 

With refernce to the article, he did take a ton of criticism where none was needed....BUT, he did keep after it and become more annoying. It was highly overbought and was full-on-hype.  He also sold at the perfect time.  Looking back through the thread I can’t believe that people wouldn’t listen AT ALL. 

The great thing? Human nature doesn’t change. This will happen again....to a much higher degree. And then likely again. And maybe even again. I, for one, plan to take advantage of it and ra.pe the crap out of this market, right to retirement. 

Edited by AllinXRP

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35 minutes ago, AllinXRP said:

This will happen again....to a much higher degree.

absolutely. the run to $3 then down to .20 will be repeated endlessly. this is how investing works.

up to $10, down to $4
up to $50, down to $10
up to $100, down to $50

the only question is how long an investor is willing/is able to hold through the emotional turmoil the ups and downs create

Edited by XRPto50dollars

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13 hours ago, Kalarie said:

Taxes are exactly why I don’t try to trade.  Even if I did gues right on timing I may lose out to the government in the end.  I’m hoping that I only have to ever sell once, or never at all.

good point. there really is no need to flip XRP. for every one person who gains a few hundred XRP by flipping, there are 100+ who did it wrong end up losing.

the problem is, we only hear from the successful people bragging while those who made the mistake wont admit it publicly out of embarrassment. 

Edited by XRPto50dollars

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21 hours ago, XRPto50dollars said:

absolutely. the run to $3 then down to .20 will be repeated endlessly. this is how investing works.

up to $10, down to $4
up to $50, down to $10
up to $100, down to $50

the only question is how long an investor is willing/is able to hold through the emotional turmoil the ups and downs create

hopefully I can take advantage of this

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On 11/5/2018 at 2:52 PM, Kalarie said:

The last IRS guidance (USA) I saw said that every transaction, even between cryptos was a taxable event.  Isn't that why they asked Coinbase to turn over the history of every account with $10,000+ in it?

They "asked" for ALL customer trading information from 2013 to 2015. What the court decided they could receive was customer info for all accounts that traded greater than $20,000 in "any one transaction type (buy, sell, send, or receive) in any one year from 2013 to 2015".

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1 hour ago, bloodhound said:

What the court decided they could receive was customer info for all accounts that traded greater than $20,000 in "any one transaction type (buy, sell, send, or receive) in any one year from 2013 to 2015".

Extremely interesting and very surgical detail.   I do hope this kind of precision filtering becomes common in other countries to "help" us little fish just trying to get some extra income.

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On 11/6/2018 at 3:36 AM, XRPto50dollars said:

good point. there really is no need to flip XRP. for every one person who gains a few hundred XRP by flipping, there are 100+ who did it wrong end up losing.

the problem is, we only hear from the successful people bragging while those who made the mistake wont admit it publicly out of embarrassment. 

Oh i'll admit doing it.... and when u dont have a big stack to start with its very painful!

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I was one of the ones originally telling the OP he/she was an idiot at the beginning of this thread. I guess he/she knew a thing or two. 

I bought in the $.20's in 11/17. I have not been buying anything substantial until today. It feels good to buy more. I have more cash if we go lower, but I am happy to be buying. I feel the trade is asymmetric to the upside right now. Ripple has stopped announcing partnerships for months, it seems there could be some big announcements coming into the market over the next six months, all the ground work has been done, now the market just needs to utilize the technology. It feels like a dam that still seems structurally sound, but careful observers have noticed a leak, and the leak will grow, until in bursts. When all hell breaks loose, speculation will drive this thing nuts. I should buy more. 

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1 hour ago, xrpsailor1 said:

careful observers have noticed a leak, and the leak will grow, until in bursts. When all hell breaks loose, speculation will drive this thing nuts.

WILL YOU PUHLLLEEEAASEE STOP TEASING!!!   

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9 hours ago, xrpsailor1 said:

I was one of the ones originally telling the OP he/she was an idiot at the beginning of this thread. I guess he/she knew a thing or two. 

I bought in the $.20's in 11/17. I have not been buying anything substantial until today. It feels good to buy more. I have more cash if we go lower, but I am happy to be buying. I feel the trade is asymmetric to the upside right now. Ripple has stopped announcing partnerships for months, it seems there could be some big announcements coming into the market over the next six months, all the ground work has been done, now the market just needs to utilize the technology. It feels like a dam that still seems structurally sound, but careful observers have noticed a leak, and the leak will grow, until in bursts. When all hell breaks loose, speculation will drive this thing nuts. I should buy more. 

The volume does not support this. Ripple can release PR after PR after PR after PR, but usage will be defined in volume.

No sustained volume no real usage.

Edited by pumpndump

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