Jump to content
MungerMore

My move: 80% XRP to ERC-20

Recommended Posts

14 minutes ago, MungerMore said:

I wish I cash out at $3.4.

Greedy made me lose my mind and I did nothing. 

Plenty of opportunities to make millions from that time till now, if you really are good at predicting markets. 

Share this post


Link to post
Share on other sites
8 minutes ago, Deeznutz said:

Ripple has been working with the SEC for months, asking questions and offering advice. They are the only adults in the room, if you will. I’m not selling temporarily because when I bought back in, I would probably own less XRP than I do now.

 

You are right , that is the risk my move should take.

Share this post


Link to post
Share on other sites
2 hours ago, MungerMore said:

Yeah, I hold through $3.4 (8x profit, not cash out) and now regret. And convert 80% XRP to ERC-20 tokens, then convert back after coinbase pro announcement & SEC verdict XRP is not security.

Regarding the news, it sounds good and safe. And you said that you’re looking to be back on XRP once we get the SEC decision.

Can’t believe that someone critizice you because they are Ripple purist and not open minded...

a good investor react with facts, not with heart

Share this post


Link to post
Share on other sites
1 minute ago, Thomas666 said:

Regarding the news, it sounds good and safe. And you said that you’re looking to be back on XRP once we get the SEC decision.

Can’t believe that someone critizice you because they are Ripple purist and not open minded...

a good investor react with facts, not with heart

Yeah, my etc-20 tokens(BAT/REQ) are green while other are red ;

I just can't believe greedy is horrible.

When $3+, I tell my self it will go above $5, and I will cash out at $4.9. When it down to $2, I tell my self, I will go back to $3. Just can not understand why I did not cash out at ATH.

Share this post


Link to post
Share on other sites
4 minutes ago, BeSeriousXRP said:

"Be Fearful When Others Are Greedy and Greedy When Others Are Fearful" ... Everybody is so fearful now...it makes me very greedy ?

I am greedy all the times. "Greedy is good" and "crypto is a bi*ch that never sleeps". See you on the moon, buddy.

Share this post


Link to post
Share on other sites
39 minutes ago, MungerMore said:

Yeah, my etc-20 tokens(BAT/REQ) are green while other are red ;

I just can't believe greedy is horrible.

When $3+, I tell my self it will go above $5, and I will cash out at $4.9. When it down to $2, I tell my self, I will go back to $3. Just can not understand why I did not cash out at ATH.

I was like you.

Night was horrible.

My wife was telling me to sell asap.

It tooks me 6 months to feel better and not guilty. I was too greedy...then I understood : no heart, just finance.

I’m a CPA, I have a good life, perfect family. I do not need Lambo because I already realise my dreem. I was looking for a performance, something to be proud...

I truely believe un Ripple and XRP is far away my favorite coin and concept.

But lesson learned, that time I invest to earn. My goal are far less important that my last one. I hold because I like the fact to wait and be happy. 

I’m with you with the fact that XRP isn’t as safe as it was regarding the recent news. Of course; it’ll bounce back in the future. But I’ll be too disappointed that time if it plunge due to SEC.

 

Share this post


Link to post
Share on other sites
7 hours ago, MungerMore said:

First, XRP may be classified as security; Second, this move is for short term, and I will convert back to XRP at end of June.

 

 

XRP was not issued by the ripple the company, the founders created XRP, and donated most of their XRP to the company  to be managed.

Ripple is a payments company and happens to be great at cryptography and Blockchain, all their future products will work flawlessly with XRP at its core. Codius is more efficient with XRP despite interledger as smart contracts should be instantaneous for extremely time critical parameters.

ERC-20 tokens the majority of them do not have a real use case within the Blockchain. (P.S I’am long on Augur ).

You are better of diversifying into Ethereum if you are worried about regulatory uncertainty. However i’am Taking advantage of all the FUD around XRP.. I remember when XRP hit $3 and I told myself I wish I would have bought more around .50 cents.. here I’am and my wish has been granted.

RIpple does not sell XRP to retail investors as a security,  it sells them to Banks, Exchanges and HedgeFunds to be utilised for payments or sale.

XRP is supercharged with Codius, as it opens the floodgates of Institutional investment. Though i’am Pro diversification going 80% into ERC-20 tokens is a great way of loosing money because of the very reason you are investing in them.

(This is not investment advise, it’s you money and you are solely responsible for your profits and losses)

 

 

 

 

Share this post


Link to post
Share on other sites
21 hours ago, MungerMore said:

Yeah, I hold through $3.4 (8x profit, not cash out) and now regret. And convert 80% XRP to ERC-20 tokens, then convert back after coinbase pro announcement & SEC verdict XRP is not security.

Last time around during the ATH lots and lots of people missed the ride primarily because liquidity dried up and exchanges were not allowing new customers. There are a lot of assumptions baked into your strategy

1. ERC20 tokens will go up first

2. You will know exactly when to liquidate and move it to XRP.

 

The more likely scenario is :

1. ERC20 tokens do not go up  like you think because these are bear markets and with no new money people just don't care.

2. Meanwhile you start regreting your decision to get out of XRP .

3. SBI comes out , xRapid goes live next month and Xrp jumps 150% overnight

4. You panic and buy XRP again at a higher price.

 

Share this post


Link to post
Share on other sites
4 minutes ago, goldstar111 said:

Last time around during the ATH lots and lots of people missed the ride primarily because liquidity dried up and exchanges were not allowing new customers. There are a lot of assumptions baked into your strategy

1. ERC20 tokens will go up first

2. You will know exactly when to liquidate and move it to XRP.

 

The more likely scenario is :

1. ERC20 tokens do not go up  like you think because these are bear markets and with no new money people just don't care.

2. Meanwhile you start regreting your decision to get out of XRP .

3. SBI comes out , xRapid goes live next month and Xrp jumps 150% overnight

4. You panic and buy XRP again at a higher price.

 

LOL.

After converted REQ yesterday, if I convert back to XRP now, 15 % more XRP earned. (checked the CMC, REQ up 18% in two days while XRP down).

I will update my result here after my move finished.

Share this post


Link to post
Share on other sites

Yes it's a good decision that you moved out. Ppl who doesn't understand or believe in xrp should definitely consider selling xrp and buy erc20 token.. like our friend pointed out they will get listed in coinbase.. great utility to be listed on coinbase right.. Go for it.

But I like to add some points.

One wrong trade in crypto will erase your years of gain in minutes or hours or in day.

Don't buy or sell in panic

Stay invested in projects that you believe in. Don't keep jumping around.

Remember that in next 3-5 years, lot of institution buyers will be in market and they will pick a quality one and with real usecase. Xrp will definitely be a major chunk of their portfolio.

But if you can't handle all the fud about xrp, better sell it.

Sec took action on bitconnect .. so do you think that SEC doesn't know about xrp ? Ripple's team is always working with regulations. If xrp is going to be deemed as a security, sec would have done it already. Ppl are using their silent to spread fud.. sec can't go behind all the 1500 crypto project and say if they are security or not. But I am happy to see all the weak hands and ppl who doesn't understand the future behind xrp leave.. 

I wish all the strong believer and holder make the best of xrp in the future run. 

 

 

Share this post


Link to post
Share on other sites
On 6/16/2018 at 1:49 PM, MungerMore said:

Yeah, I will convert  back to XRP before $1, just to triple my holding by convert to etc-20 temporarily.

Pick your exchanges wisely. Some will take extra charges for ERC20.

Might be best to switch to ETH if you are going to do this.

BTW, I think XRP being a security is a good thing.

Think of the pension funds that could buy it. Not just as an investment, but also as a way of keeping costs down for fund holders with internationally divested portfolios.

Share this post


Link to post
Share on other sites

×
×
  • Create New...