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MegaR80

How much is enough

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1 hour ago, nomad_z said:

I think the issue at the moment is that a lot of people have very high dreams. Not saying they aren't possible, but they must be tempered. It's taken 5 years before I could even think of achieving a dream. I've been through a lot of loss positions, before things turned, so be prepared to go through bad times.

Agree with this. I think it’s fine to dream high, but the number of people who get there by luck alone are very small. Most people who get to the heights worked damn hard to get there. In other words, very few people win the lottery but plenty of people rise to comfort and wealth through hard work. Of course we are looking to get lucky to a certain extent, and we might. But to expect massive amounts of luck in life is risky. 

That said, to OP, a thousand xrp at fifty bucks will give you fifty grand. Not enough to retire to a yacht in the Caribbean, but a damn nice helping hand to get started in life that many young people in the West would kill for right now. 

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8 minutes ago, Seoulite said:

Agree with this. I think it’s fine to dream high, but the number of people who get there by luck alone are very small. Most people who get to the heights worked damn hard to get there. In other words, very few people win the lottery but plenty of people rise to comfort and wealth through hard work. Of course we are looking to get lucky to a certain extent, and we might. But to expect massive amounts of luck in life is risky. 

That said, to OP, a thousand xrp at fifty bucks will give you fifty grand. Not enough to retire to a yacht in the Caribbean, but a damn nice helping hand to get started in life that many young people in the West would kill for right now. 

50$ is just so far away when we are at .62 maybe in a decade.

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1 hour ago, jasil said:

50$ is just so far away when we are at .62 maybe in a decade.

It always seems that way however just over a year and 3 months ago on Jan 9th ETH was just over 9bucks. It won't take long once the ball starts rolling.

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6 hours ago, Seoulite said:

Honestly I think this is the wrong way to approach this. Notice you said: Do I need to be in the top 1% to be able to cash out six figures in a couple of years or is the top 10% enough? You are starting from the assumption that it will moon. In my opinion it's better to start from the assumption that you will lose everything. Or if that's too pessimistic, the assumption that you will basically come out even in a few years time.

Then you ask yourself how much you can live without. I put in a nice chunk last year, and am fine with losing that money. It won't destroy my life or cause me any financial difficulty. Think of the psychological cost of always being afraid of the price. It might not be worth any potential gains in the end. 

Also you said you don't have much cash to start with. That leads me to assume you are fairly young (late teens, early 20s). In that case, remember that money invested now (in a traditional way) can build up big over time. Or say 500 bucks spent on a coding crash course could end up making you back tens of thousands of dollars over your working life. 

tldr: don't assume an XRP moon run is a done deal. It's not. 

Thanks for this well thought out input.

You’re correct, I’m assuming that the price will moon. And that’s possibly a flawed assumption. But I’m also prepared to lose my investment. Sure, I can invest a lot more and even lose it all without it actually destroying my life. But in that case I would still feel bad for losing that money. At this point I’m not afraid if the price goes down. I’m happy because I can get more cheap  XRP. And that’s perhaps my personal sweet spot right there. I sleep well at night and if XRP goes to the moon I get a nice pile of cash. 

Cheers

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9 hours ago, Lak5h said:

The jump from $0.62 to $50 is the same % jump as $0.006 (last March) to $0.48

Except it took  a lot less $$ and volume to move it back then and the mania is gone now to drive ANY coin to new ATH. Without volume nothing will move!! Just flippening and daytrades for the last 7 weeks.

It will take 10's of billions from FI to move any of this substantially and  without a insured, backed, and regulated exchanges big money will not flow in (if ever).

50-70 billion daily crypto volume moved xrp to 3+ do you have any idea how much sustained volume to ever hit $50 in 1 year........maybe in 10 years is a much better timeframe.

Edited by jasil

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21 hours ago, MegaR80 said:

That’s true guys, no one knows. And good to always remember not to invest more than you can afford to lose.  

My rationale for this post was that maybe it’s more useful to look at percentiles rather than speculate on X$ per XRP. Looking at the bitcoin rich list, if I were a 10%er I couldn’t have bought a Lambo. But maybe a 10%er from the early days of bitcoin is loaded today (assuming that the number of coins per percentile is decreasing as adoption gets more widespread). So maybe in a few years time I can have my Lambo with my 10th percentile XRP stack. 

PS my personal “Lambo” or “moon” is paying off my mortgage. Just trying to stick with the crypto lingo... :)

Lol i think the number of people actually using the term lambo for a literal lambo are the real 1%ers. I dont even have a driving license lol. 

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17 minutes ago, Qasim_786 said:

Lol i think the number of people actually using the term lambo for a literal lambo are the real 1%ers. I dont even have a driving license lol. 

Lol that would be the perfect crypto billionaire. Have Lambos need license :)

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2 hours ago, jasil said:

Except it took  a lot less $$ and volume to move it back then and the mania is gone now to drive ANY coin to new ATH. Without volume nothing will move!! Just flippening and daytrades for the last 7 weeks.

People dont understand How much harder it is and more money it takes to make the same percentage jump a second time. The move from a penny to a dollar is not nearly as difficult as from a dollar to $100.

Edited by ringer2

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my invests in cryptos are 17% of my fin invests
my invests in XRP are 75% of my porfolio (as i 'm convinced and confident)
my HODL is 85% of my XRPs, as i can suddenly trade 15% if necessary

I'm at a good place in the XRP-rich-list and i climb this lader every week, even if i don't buy anymore, because we can observe a dilution since few months as newbies are entering the market with low levels because the XRP is more "expensive" on dec to feb than before. For now i'm green despite the general situation.

I accept to lose these risky invests
I accept to win too, and so, I prepare this and don't stay inactive

SO....

I have an accurate reading of the situation as i spend 80% of my (little) brain on XRP. And so, i've my personal conviction about the future scenario for 2018. And if you simulate XRP through 2018-19 and modelize which are the levels where you will be able to 'stay in' or 'go out', you need a lot XRP to release at least at several different times, while you stay Holder

of course it's not a rule as it depends of your personal situation, but i think that too many people just think they Hold and will sell when it's ATH at moon. And i think that's not realistic unless you're already billionary or more. in case forget your XRP for few years, and go back to the swimming pool.

But if you're common people trying to increase significantly your belongings (>X000% is significant enough ?), you have to do an accurate work concerning not only your market entry, but how to get out with satisfaction... (because XRP uptrend will go on after you left)

 

so i said that, but i said nothing, 5555

Edited by mike13

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4 hours ago, MegaR80 said:
4 hours ago, Qasim_786 said:

Lol i think the number of people actually using the term lambo for a literal lambo are the real 1%ers. I dont even have a driving license lol. 

Lol that would be the perfect crypto billionaire. Have Lambos need license :)

"chauffeur" is the word you're looking for :lol:

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21 hours ago, nomad_z said:

 

Thanks for that. So you only need 75,000 XRP to be in the top 1%. That's dropped from beginning of February then.

 

Untitled.jpg

lol so i am in the 1% range

Edited by Dutch

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