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BigFish

$1 million stash...what to do?

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So my total crypto net worth currently stands at around $1,100,000 which is impressive considering I entered the market with $50,000 inheritance money in 2011. My crypto loot peaked at 5 million although I lost a large chunk of that thanks to VERY bad trading decision the latest 'crashes'. Anway...I currently hold 50% Bitcoin (i'm an early investor since 2011 which is how i made most profit), 20% ethereum, 15% XRP, 10% Litecoin and 5% NAGA (my only  TOKEN investment but it seems to be one of the only companies with a solid history). So the reason i'm posting on XRP chat rather than a bitcoin chat is i'm thinking of switching my 50% BTC stake into a majority XRP stake e.g. 50% XRP, 25% BTC and the rest in whatever. I'm really tempted to just sell everything and finally buy my own house since i only have 50k in fiat savings although I still remain quite positive. But back to my point, the main reason I am thinking of making XRP a majority stake is because of all this talk about regulation etc. I know most of you guys can't give investment advice, legally or morally, but i'd appreciate some feedback since i'm sitting on a considerable amount of money and don't want to squander it all away. 

Edited by BigFish

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Honestly, I don’t think you should value the opinions of strangers on the Internet. Continue to do your research/homework, evaluate your risk tolerance, identify your financial goals, talk to your inner circle of family/friends, and then go with what feels right. Only you can know that.

Personally, I remain bullish on XRP over all other cryptos and am comfortable with focusing just on it. Others, obviously, have adopted more diversified strategies. 

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5 minutes ago, BigFish said:

So my total crypto net worth currently stands at around $1,100,000 which is impressive considering I entered the market with $50,000 inheritance money in 2011. My cyrpto loot peaked at 5 million although I lost a large chunk of that thanks to bad trading decision. Anway...I currently hold 50% Bitcoin (i'm an early investor since 2011 which is how i made most profit), 20% ethereum, 15% XRP, 10% Litecoin and 5% NAGA (my old TOKEN investment but it seems to be one of the only companies with a history). So the reason i'm posting on XRP chat rather than a bitcoin chat is i'm thinking of switching my 50% BTC stake into a majority XRP stake e.g. 50% XRP, 25% BTC and the rest in whatever. I'm really tempted to just sell everything and finally buy my own house since i only have 50k in fiat savings although I still remain quite positive. But back to my point, the main reason I am thinking of making XRP a majority stake is because of all this talk about regulation etc. I know most of you guys can't give investment advice, legally or morally, but i'd appreciate some feedback since i'm sitting on a considerable amount of money and don't want to squander it all away. 

Why not buy your house and  in the same time start over with $100 000 to $ 200 000 in XRP?

I guess you will send a similar question about new investment for your $10 to 20 million in a few year :)

 

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26 minutes ago, BigFish said:

So my total crypto net worth currently stands at around $1,100,000 which is impressive considering I entered the market with $50,000 inheritance money in 2011. My crypto loot peaked at 5 million although I lost a large chunk of that thanks to VERY bad trading decision the latest 'crashes'. Anway...I currently hold 50% Bitcoin (i'm an early investor since 2011 which is how i made most profit), 20% ethereum, 15% XRP, 10% Litecoin and 5% NAGA (my only  TOKEN investment but it seems to be one of the only companies with a solid history). So the reason i'm posting on XRP chat rather than a bitcoin chat is i'm thinking of switching my 50% BTC stake into a majority XRP stake e.g. 50% XRP, 25% BTC and the rest in whatever. I'm really tempted to just sell everything and finally buy my own house since i only have 50k in fiat savings although I still remain quite positive. But back to my point, the main reason I am thinking of making XRP a majority stake is because of all this talk about regulation etc. I know most of you guys can't give investment advice, legally or morally, but i'd appreciate some feedback since i'm sitting on a considerable amount of money and don't want to squander it all away. 

Well done - your feet seem to be on the ground compared to the pie-in-the-sky types that infest this forum.  50% Bitcoin would make me very nervous as there is plenty of air to be let out of that pig.

Also, what is your tax exposure?

Edited by D_B_Cooper

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13 minutes ago, BigFish said:

So my total crypto net worth currently stands at around $1,100,000 which is impressive considering I entered the market with $50,000 inheritance money in 2011. My crypto loot peaked at 5 million although I lost a large chunk of that thanks to VERY bad trading decision the latest 'crashes'. Anway...I currently hold 50% Bitcoin (i'm an early investor since 2011 which is how i made most profit), 20% ethereum, 15% XRP, 10% Litecoin and 5% NAGA (my only  TOKEN investment but it seems to be one of the only companies with a solid history). So the reason i'm posting on XRP chat rather than a bitcoin chat is i'm thinking of switching my 50% BTC stake into a majority XRP stake e.g. 50% XRP, 25% BTC and the rest in whatever. I'm really tempted to just sell everything and finally buy my own house since i only have 50k in fiat savings although I still remain quite positive. But back to my point, the main reason I am thinking of making XRP a majority stake is because of all this talk about regulation etc. I know most of you guys can't give investment advice, legally or morally, but i'd appreciate some feedback since i'm sitting on a considerable amount of money and don't want to squander it all away. 

Congrats, you've done really well, just forget about the lost profits and focus on how much you've made, which is 20x.

If I was in your situation, I'd probably sell about 600-800k worth, and leave the rest in crypto, distributing a few more from BTC to XRP and LTC. I'd definitely hold a reasonable amount of BTC though. In the short term (next few weeks) a lot of people are expecting a further downturn, with the best guess around BTC at around 5000. But in the long term, most people seem bullish on crypto, bullish on BTC. Maybe then re-evaluate your position at the end of the year.

The other argument is that we've seem quite a lot of price depreciation recently, so you may want to HODL everything. For me, that's an unneccessary risk given the gains you've already made. I'd definitely want to cash out some of my 20x profits.

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To me, there are 3 cryptos with big potential upside right now - XRP, Verge and Stellar. Verge throws me off with their hype (or bait) machine but they have a lot of upside potential right now. 

 

 

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...oh and to answer your question, I think I would cash out $500k and play with the rest. If you lose it all, you can still say you made a 10 bagger with a 50k investment. And that remaining 500k has then potential to make you millions. 

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54 minutes ago, BigFish said:

So my total crypto net worth currently stands at around $1,100,000 which is impressive considering I entered the market with $50,000 inheritance money in 2011. My crypto loot peaked at 5 million although I lost a large chunk of that thanks to VERY bad trading decision the latest 'crashes'. Anway...I currently hold 50% Bitcoin (i'm an early investor since 2011 which is how i made most profit), 20% ethereum, 15% XRP, 10% Litecoin and 5% NAGA (my only  TOKEN investment but it seems to be one of the only companies with a solid history). So the reason i'm posting on XRP chat rather than a bitcoin chat is i'm thinking of switching my 50% BTC stake into a majority XRP stake e.g. 50% XRP, 25% BTC and the rest in whatever. I'm really tempted to just sell everything and finally buy my own house since i only have 50k in fiat savings although I still remain quite positive. But back to my point, the main reason I am thinking of making XRP a majority stake is because of all this talk about regulation etc. I know most of you guys can't give investment advice, legally or morally, but i'd appreciate some feedback since i'm sitting on a considerable amount of money and don't want to squander it all away. 

big money is coming to BTC and XRP for sure. ETH is speculative since I think XRP can replace it, but LTC still has some major fanfare. I don't know NAGA but if you like it, keep a small amount.

I wouldn't dump any of these, but I'd likely adjust holdings a bit to favor XRP, personally. 

XRP to $3 is a 6 x's return. do you think that XRP back to its ATH is more or less likely than BTC to $42k? I think both will happen but I think XRP will gain more than BTC.

I'd probably switch my holdings to like 25% BTC, 40% XRP, 15% ETH/LTC, 5% NAGA (although I don't know this one at all)

However that's just a precursory glance. My personal holdings are about 95% XRP and 5% BTC.

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37 minutes ago, lucid99 said:

...oh and to answer your question, I think I would cash out $500k and play with the rest. If you lose it all, you can still say you made a 10 bagger with a 50k investment. And that remaining 500k has then potential to make you millions. 

If anything I might cash out a substantial down payment on the house if you can afford the monthly payments, or just HODL through 2018 then buy the house. Real Estate prices will likely go up, but if real estate goes up 15% and Crypto goes up 1000% which would you rather be holding? buying some real estate with a good down payment though is a nice conservative way to hedge your bets and enjoy some of your profits now.

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I would pay the house off now, throw at least a large amount into XRP, and then consider doing another profit taking of 2 million once (if) your portfolio hits 4 million again (do account for taxes though).  

That way you have a paid off house and 60k a year at an inflation adjusted 3% withdrawal rate, which should last you forever (read up on 4% withdrawal math and such).  The rest of your portfolio is what could make you 'rich'.  I'd say financial security should take the utmost priority over greed.  10 million would be nice, but one in the hand is better than two in the bush.

I'd also consider NOT buying the house unless you are 100% sure that you want to live in that location for quite some time.  Renting + investing often wins long term.  The benefit of a paid off house is shorter term security and cash flow though.

Edited by mrhat75

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Ignore this Regal Chicken character - he tried to fob off the most idiotic 'theory' about Chinese New Year that had the dimmer bulbs around here

jumping up and down for weeks.  Also, he presides over a 'club' called the Zerpening that features women on bikes with titties bouncing, adolescent

videos and cartoons - hardly anyone you would want to listen to.

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