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So in December 2017 I invested all my savings in XRP. I opened a SELL  position a few hours after COINBIAS announced they wouldn't list ripple; by that time it already went down 20-30%. I then panicked as the price started going back up since people where saying it's just a bluff and changed it to a BUY position;  now I have come back a year later and i'm down 96%, DAFUQ :(

 

P.S. It's BIG BUCKS! Which makes it all the more painful; now I could really do with the cash. 

Edited by BigFish
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Hey @BigFish You're not alone. Others bought near ATH early January 2018. You're right, this bear market really sucks and it lasts longer than most of us would have thought, at least much longer than

@BigFish This downtrend is nearing its end.  If you sell now you will be selling to me. Cause I'm buying.

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2 minutes ago, BigFish said:

So in December 2017 I invested all my savings in XRP. I opened a SELL  position a few hours after COINBIAS announced they would list ripple; by that time it already went down 20-30%. I then panicked as the price started going back up since people where saying it's just a bluff; now I have come back a year later and i'm down 96%, DAFUQ :(

Hey @BigFish You're not alone. Others bought near ATH early January 2018. You're right, this bear market really sucks and it lasts longer than most of us would have thought, at least much longer than I ever would have thought. Of course I don't know how much longer it will last, but I hope that in a few years time we will be glad that we didn't sell at the current price level.

Guess no one knows how the crypto market will develop, however I think that last year many organizations, FI's and enterprises invested in the crypto infrastructure. These things take time, a lot of time ... there's one thing though that those developments indicate: crypto is NOT DED.

Take care!

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21 minutes ago, BigFish said:

So in December 2017 I invested all my savings in XRP. I opened a SELL  position a few hours after COINBIAS announced they wouldn't list ripple; by that time it already went down 20-30%. I then panicked as the price started going back up since people where saying it's just a bluff and changed it to a BUY position;  now I have come back a year later and i'm down 96%, DAFUQ :(

 

P.S. It's BIG BUCKS! Which makes it all the more painful; now I could really do with the cash. 

As hard as it is to see the 96% loss, it's all the more important to not sell your 4% value that remains. You must have really believed in your investment when you put your hard-earned cash into it a year ago. If so, then aside from the current price per XRP the progress made by Ripple in laying the foundation for XRP adoption over the past year has been incredible, and you should believe in your investment even more today. Big players are building the infrastructure. You have no reason to sell what you bought a year ago. The 4% value seems worthless, but the potential and likelihood for success is much bigger today than when you bought it. The wait may indeed be a couple more years, but what have you got to lose at this point? I too wish I could have bought all of my XRP at current prices or lower, but I'm still very grateful to have a bag full. I still believe tremendously in this investment and this opportunity to positively change my life. Take heart, and embrace your decision of a year ago. I believe one day you'll be glad you did!

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If your investment is down 96% and you invested a significant chunk of your money, it's probably too late to use my advise from last May. Nonetheless read the post. For me personally nothing has changed since May and I am very sorry to hear how you feel.

 

Edited by Lamberth
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33 minutes ago, BigFish said:

So in December 2017 I invested all my savings in XRP. I opened a SELL  position a few hours after COINBIAS announced they wouldn't list ripple; by that time it already went down 20-30%. I then panicked as the price started going back up since people where saying it's just a bluff and changed it to a BUY position;  now I have come back a year later and i'm down 96%, DAFUQ :(

 

P.S. It's BIG BUCKS! Which makes it all the more painful; now I could really do with the cash. 

Wait, let me get this straight... so you invested all of your savings into something and then came back a year later to find out your down 96%?  So you put your money into something, looked away for a year and didn't follow ALL OF YOUR SAVINGS to see what happens with it. Sounds either very irresponsible or completely made up.  

EDIT: You wouldn't be freaking out if you had followed the incredible news this past year and see where crypto is heading in general...

Edited by XRPLearner
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31 minutes ago, BigFish said:

So in December 2017 I invested all my savings in XRP. I opened a SELL  position a few hours after COINBIAS announced they wouldn't list ripple; by that time it already went down 20-30%. I then panicked as the price started going back up since people where saying it's just a bluff and changed it to a BUY position;  now I have come back a year later and i'm down 96%, DAFUQ :(

 

P.S. It's BIG BUCKS! Which makes it all the more painful; now I could really do with the cash. 

You were too early.  But that doesn't mean you were wrong.  Hold on to it.  Consider it like a piece of artwork.  The market will come back, and when it does you possess something valuable which many don't! The day will come, we know this because the market is being invested in heavily as we speak.

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3 minutes ago, XRPLearner said:

Wait, let me get this straight... so you invested all of your savings into something and then came back a year later to find out your down 96%?  So you put your money into something, looked away for a year and didn't follow ALL OF YOUR SAVINGS to see what happens with it. Sounds either very irresponsible or completely made up.  

EDIT: You wouldn't be freaking out if you had followed the incredible news this past year and see where crypto is heading in general...

Irresponsible - that's what you get when you mix aspergers with depression and a sprinkling of other personality disorders :-) yeah of course i'm not going to sell it; it just makes me feel better when I have a supportive community around me. So thanks for all the comments guys. 

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2 minutes ago, BigFish said:

Irresponsible - that's what you get when you mix aspergers with depression and a sprinkling of other personality disorders :-) yeah of course i'm not going to sell it; it just makes me feel better when I have a supportive community around me. So thanks for all the comments guys. 

Listen man, just look at market cycles and the history of BTC thus far, with crypto adoption and acceptance starting to take place, we should breeze past the previous ATH, I'm sure most of us are in the red but we know what we have and whats to come. Just HODL and don't look at day to day prices. Set an SMS alert for $2 and go enjoy your life or at least follow the amazing news along the way to help boost your confidence

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Despite the fact that there are numerous logical fallacies being abused here, the advise to keep holding is likely worth it. The only time you should cash out is if you expect the price to never increase again (or at least not for a period of time you're comfortable with) or if you absolutely need the money now for critical or guaranteed investment returns... in which case you'd get that return and then get some back into crypto.

You can certainly also consider a selling point to exit that you're comfortable with. So, if you got in around $2/each average, you may want to get out at $0.66 and accept a 2/3 loss. Personally, I think I'd zero out everything I have in before I consider losing more than like 15%.

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