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JimmyTXRP

If you could go back in time, would you sell at $3.50 if you couldn't reinvest??

Cash Out or HODL???  

203 members have voted

  1. 1. If you could go back in time, would you sell at $3.50 if you couldn't reinvest??

    • Yes
      78
    • No
      125


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Hard to say. Some days I am confident and happy I held and some days I think I was stupid for holding. The thing is that you will never be able to  time the market. Same as I could have sold back in December, I could have sold a few weeks before and have missed the rally. 

Edited by AlvaroXRP

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Hell yes!

This year the SEC came in and threw a major wrench in the adoption rate of public retail cryptos except for Bitcoin and Ethereum and similar cryptos (situation is significantly worse for regulatory ambiguous cryptos), same goes for IRS.

The SEC scared people -institutional investors are more scared than we are - with regulatory ambiguity for non-pure cryptos mostly, and the IRS just decided to tax the sh*t out of all cryptos ASAP, applied retroactively, regardless of type of crypto, rather than allow for more sensible delayed taxation in this emerging, unregulated market.

Edited by enrique11

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No because I've been able to accumulate so much more during this bear market. Even if it only goes to $5, I now have 10x what I did at $3.50. 

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To me, XRP is the generational opportunity to get in early on something.  I want to see how the value of XRP is effected when the daily volume is regularly in the billions or more.  At that point, I think we'll have a better idea of its intrinsic value assuming XRapid at a minimum is up and going.  I wouldn't be able to live myself if I ended up in a similar scenario as the guy that bought pizza with Bitcoin way too early.

Either going to the moon or down with the ship.

 

 

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It's a very personal decision really. Being able to pay off your debts including mortgage would be fantastic. What you have to weight up is your feelings on the up and down side.

You could have done that, never did, and it does to zero - how do you feel?
You could have done that, did, and it goes to $5, $10, $50 or $589 - how do you feel then?

Somebody posted on here a while back along the lines of you have to accept you'll never buy at the all time low, or sell at the all time high - and it's so true!

I think the only sensible thing to do is have a goal in mind, and have graduated sales to that point above your DCA. You hoping for $5, so have sale points from $3.50 through to $8 kind of thing. 5% of your stack at a time or whatever.

 

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Tough to answer. I watched $850k slowly dwindle to fractions since then. While i still have faith in the company and it's native currency, there still exists a strong possibility that a single piece of news could send us back to where i first bought in at. Hell, we still don't know who Satoshi is and he alone could tack on another few years of depression for the whole market.

I know that no matter what happens I'll still be able to look back at 2017 as one hell of a positive year for me. ETH bought my first house and XRP helped my sister buy her own. 2017 will forever be remembered as the year where money was plentiful as your account would casually double or more every couple months so long as you diversified well enough. 

To answer the OPs question, if i had a time machine and used it right now then, yes, i would sell based on my future selfs fears. $850k would be more than enough to help my mom retire and i could've invested a small portion into stocks or something else.

That being said, i didn't sell and have spent these bear months learning to trade and taking advantage of the pumps. It's just a bit more unpredictable compared to the 6 months of bouncing between $0.20 and $0.30, talk about accumulation when you KNOW it's going back to $0.20 from $0.30 lol.

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2 hours ago, enrique11 said:

Hell yes!

This year the SEC came in and threw a major wrench in the adoption rate of public retail cryptos except for Bitcoin and Ethereum and similar cryptos (situation is significantly worse for regulatory ambiguous cryptos), same goes for IRS.

The SEC scared people -institutional investors are more scared than we are - with regulatory ambiguity for non-pure cryptos mostly, and the IRS just decided to tax the sh*t out of all cryptos ASAP, applied retroactively, regardless of type of crypto, rather than allow for more sensible delayed taxation in this emerging, unregulated market.

Do you have a link to the IRS guidance on cryptos??  Thanks. 

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No I would not sell with that condition.  The bear market was hard at first but now it is a fact of life that let me buy more XRP at very low prices, I am feeling positive with what happened.

Concerning your position - 40% of your families saving was a brave investment.  It would have been sensible to sell 5% of your stake on the way up to make sure that everything you invested had been returned to the family savings pot, but that is easy to say with hindsight.  I am pretty sure you will be very rich in the not too distant future and that all your friends will be envious of your wisdom and courage. Good Luck to you and all your family.

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14 hours ago, KickingHorse said:

Do you have a link to the IRS guidance on cryptos??  Thanks. 

Not financial/tax advice, just my opinion about crypto taxes in the US:

I found this: https://www.irs.gov/newsroom/irs-virtual-currency-guidance

, but it's not even accurate...lol...the IRS hasn't updated their own stuff...what a joke!

It's just a news release, maybe the correct, updated info in is some other section.

The IRS declared cryptos as property, but there was a potential real-property loophole called like-kind exchange (section 1031(a)(1) of the IRS tax code) which the Trump administration closed at the beginning of this tax year when Trump signed a new tax bill into law that included a declaration about all cryptos being virtual property...I haven't checked on it since the beginning of this year, but that's the most current info I have about it.

See, here's the problem.  If you want to invest in Bitcoin, you buy it, say it goes up in price, and then you decide to cash out.  If you cash out within a year or less, you pay higher short-term capital gains tax, if you cash out after a year you pay a lower long-term capital gains tax.

But, let's say you have no interest in Bitcoin, and want to purchase an altcoin, then you quickly realize there are very few fiat-to-altcoin pairs for lesser known altcoins....none that I think of off the top of my head.  So, then you are forced to buy Bitcoin, Ethereum, etc. with fiat to get the right crypto to allow you access to the altcoin market that you want, and if Bitcoin's price appreciates while you're waiting for the right moment to purchase your altcoin, then you have to pay short term capital gains tax on any profit made from buying and selling your Bitcoin - you have no choice, unless you wait one year to get taxed at a lower rate - and who wants to wait one year to get their altcoin?  The point is I feel we're being taken advantage of intentionally or otherwise by the IRS whenever we want to buy an altcoin and hold it, then cash out in fiat, by first selling it back for BTC, and then selling the BTC for cash, and BTC profits are realized and/or because of the extra tax reporting work involved for altcoins, but not if we just want to buy BTC and hold it, then eventually cash out to fiat. There's so much work involved keeping track of prices used to trade into and out of altcoins, but not as much with fiat/crypto pairs like USD/BTC for example 'cause we're used to working with fiat and we can  buy it directly with fiat, so it's a one-step process, unlike for altcoins in general which typically require a two-step process to purchase and you have the extra burden of juggling non-fiat prices for taxing purposes.

If BTC's price increases exponentially in the coming years and many altcoin prices decline, we can partially thank the IRS for that, IMO, as well as the SEC.  How many years until the SEC decides about other cryptos not being securities?

Edited by enrique11

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It’s good to learn from the past and consider your trade plan if certain scenarios fall into place.

unfortunately we cannot go back in time and fortunately it is not a real scenario that if you did choose to sell at 3.5 or any other price, that you couldn’t reinvest, so that latter scenario is not worth considering.

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I will only sell when it is life changing... Like paying off my mortage. In that way you'll never can be mad at yourself if it hits higher levels. A friend of my dad had 1500 btc at one point and a load of ethereum. He sold everything to buy two Rolex watches. Then he was the man, but at this moment he has trouble to keep his business up. The guy could be a millionaire but sold everything. 

 

That's the lesson he learned me, never sell before its live changing. 3.80 would be nice... Almost life changing. But not enough to look back the rest of my life and laugh my balls of

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