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Saying what we dont want to hear..

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53 minutes ago, RegalChicken said:

Do you ever ask yourself why we all pick a round number and if that is the most prudent way to be?

I've been questioning that lately myself.  why is it $1million or $100k that is the sweet spot?   Like maybe I'd be better off or just as well off if I cashed out a small portion at like $85k or $765,000 instead of a million and let myself hedge against a crash or something. 

I agree - was just responding to the original post which mentioned one mil. I'd be just as happy with £976,427.16 or thereabouts.

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13 minutes ago, Eric123 said:

I'd feel worse about missing out on $20mill than losing $1mill.

Nice ... your optimization criterion is to minimize  the maximum amount of regret. For others, it's to consider all of the worst possible outcomes and then pick the best of those, and still for others it's somewhere in between. This is classic decision theory in action.

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This is why I plan on selling around ~50% as soon as that amount gets me to a half decent retirement.  Hell maybe even 75%, hard to tell what my emotions will be telling me once I literally have that much money on paper.  I've been super logical and haven't let emotions get to me this whole time, but that could be another ballpark.

I'd like to hold some long term because living a little higher on the hog and being able to help out my close family more would be awesome.  But at the end of the day, if I can't be happy on like 1.5 million, 10 million isn't going to help.  I'd kick myself way harder by losing from being greedy, than not holding long enough though.

Edited by mrhat75

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4 hours ago, Captain_Marbles said:

I don't care much what XRP does now, only that Ripple makes

a positive difference in the world.

Sure, I want to financially free and buy myself the precious commodity of time.  Thats the priority but secondary to that I want to make a positive impact in the world.  To do that I recognize I need capital and I see XRP as a likely vehicle to get me to that destination.  

To address the OP, my exit number for 95% of my XRP stack is $136.  I've invested an amount that would certainly suck to lose but that won't change my day-to-day life for me and my family if it was lost.  For that reason I'm patiently waiting until that # hits.  Now, if it shoots up to that # faster and more dramatically than expected I'd be lying if I said it would be hard not to hold out and see how far past the # it gets.  We shall see.  

Edited by aavkk

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2 hours ago, bayarea510 said:

There's going to be a lot of people trying to sell at $100. Let's up there's enough buyers lol jk.

its going to be interesting. this falls into another Topic somewhere on how exactly do you get said cash once you sell. sure, you just sold and have $1.2 million in your exchange / Nano / etc..

but how difficult is it to correctly and legally get that money into your bank. then you have to ask.. will a standard bank even accept that amount of money? will the government track your deposits... YES.

although the future looks somewhat bright for XRP.. its also going to be a major headache.

queue people saying, "I cant wait to have a headache because im a millionaire" 

youre not a millionaire until you actually have that cash in your pocket

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27 minutes ago, XRPto50dollars said:

 

its going to be interesting. this falls into another Topic somewhere on how exactly do you get said cash once you sell. sure, you just sold and have $1.2 million in your exchange / Nano / etc..

but how difficult is it to correctly and legally get that money into your bank. then you have to ask.. will a standard bank even accept that amount of money? will the government track your deposits... YES.

although the future looks somewhat bright for XRP.. its also going to be a major headache.

queue people saying, "I cant wait to have a headache because im a millionaire" 

youre not a millionaire until you actually have that cash in your pocket

Yeah I completely agree with everything you said. It's going to be interesting figuring out how to actually transfer such large amounts of money from exchanges to your bank. Figuring out the cost basis and reporting to IRS is a whole different game which most people, myself included, are still somewhat confused about. But then again I'm sure there's a ton of bitcoin/crypto millionaires out there so hopefully banks are developing a framework to make the transition smooth. 

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I think this year and maybe next will be key. It will depend of how fast XRP reaches, say $10, if there is real adoption, how many banks/business are using it, new use cases, etc.

If this goes smoothly, as we believe, I would think of selling every year only what I would need for living according to my way of life.

Of course there are many personal factors like peace of mind, debts, buying a house or just investing in another kind of assets. But if you can sort out all this, it may be a good idea to hodl for many many years, XRP could easily be the investment of the century.

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37 minutes ago, VaR said:

Creo que este año y quizás el próximo será la clave. Dependerá de cuán rápido alcance XRP, digamos $ 10, si hay adopción real, cuántos bancos / empresas la usan, nuevos casos de uso, etc.

Si esto funciona sin problemas, como creemos, pensaría en vender cada año solo lo que necesitaría para vivir de acuerdo con mi forma de vida.

Por supuesto, hay muchos factores personales como tranquilidad, deudas, comprar una casa o simplemente invertir en otro tipo de activos. Pero si puede resolver todo esto, puede ser una buena idea hodl durante muchos años, XRP podría ser la inversión del siglo.

Pienso exactamente lo mismo ;)

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5 hours ago, bayarea510 said:

There's going to be a lot of people trying to sell at $100. Let's up there's enough buyers lol jk.

I know you are joking but just to clarify...   If it gets to $100 then it's probably happened because of widespread adoption of XRapid and perhaps other developments with XRP.  In that case the sells will be bought by the software transferring value around the world.  There will of course be human buyers but the bulk of buys will be transactional software.

So there is really no need to be concerned about whether there will be buyers at that price.

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7 minutes ago, Tinyaccount said:

I know you are joking but just to clarify...   If it gets to $100 then it's probably happened because of widespread adoption of XRapid and perhaps other developments with XRP.  In that case the sells will be bought by the software transferring value around the world.  There will of course be human buyers but the bulk of buys will be transactional software.

So there is really no need to be concerned about whether there will be buyers at that price.

I agree. There's still going to be demand at that price range and above as chances are by then we'll have a price based on actual use and widespread adoption as you mentioned. Btc, eth, etc reached triple and quadruple digit prices and people continue to buy them. Thanks for replying! ? 

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4 hours ago, XRPto50dollars said:

youre not a millionaire until you actually have that cash in your pocket

You and my wife have that view in common.   She is always chipping me when I say...  "Hey we made money this week with the price rise."

Instant reply:  "You made nothing unless it's in the bank....  ".    Sigh.    :) . Yeah ok,  that's true I suppose,  but I enjoy it more when I just think about 'profit' and not the actual sale.  Especially if I factor in tax.....   Sigh.     :) 

Edited by Tinyaccount

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