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We all got fooled again.


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8 hours ago, KaaKaRmA said:

As much as your YouTubers, Bear fuzzies, Twitter prophecies, etc want you to beleive this is a “cant miss” time and ships about to take off, they’re selling you on their channel and message and not XRP and Ripple. We’re years away from mass utikity adaption and even that is unknown. No, this isn’t FUD. It’s real talk that hopium junkies don’t want to admit. There is no utility yet. All increases move with the market or are based on speculation.  Everyone and their brother knew yesterday was a pump and if you were smart, you’d have sold some and bought back in at the dip. Yes, holding long term will make money. However, there’s no reason not to make money in short term on pump and dumps based on speculation. 

I anticipate a lot of those pump and dump actions as they are becoming more and more obvious. But my only worry is about the tax man. Don't you have to pay taxes everytime you trade?? Thats the only thing thats keeping me away from swing or day trading.

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Good news came out yesterday with the R3 and Swift partnership, we all got excited so the day traders used that as a time to do a 14% pump and dump.  24 hours later right back at the 30 cent range and

I don't know what you want other people to say.  If you feel like all the Ripple partnerships are somehow "scams", then surely you want nothing to do with XRP (if that's what you want someone to say).

You can always buy bitcoin. I've heard it's a 'store of value', whatever that may mean.

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I do also have some skepticism and worries at times.  But as long as my optimism overshadows my skepticism, im holding. As long as there are more good news than bad news, im holding. As long as we continue to grow, however smaller incrementally, im holding. As long as there is progress being made, im holding. Once the balance tips, or we get some really detrimental news, or a better technology emerges, or Ripple's vision no longer aligns with mine or makes sense, then i will sell.  Other than that, i will pass this stash to my kids and their kids and their kids's kids :)

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6 hours ago, WuWei said:

What a bunch of impatient whiners! What Ripple has managed to accomplish since their inception only a few years back is actually quite remarkable, and to equate a briefly stagnate xrp price with a lack of success, is either outright FUD or willful ignorance. The release of 1 billion xrp from escrow each month tempers the price appreciation enormously; like it or not; however, the genius behind their objective is clear. Ripple isn't going after some small-time nickel and dimes market, but is looking to position itself as THE major player in the the world-wide IoV. This necessarily requires such an enormous supply of xrp, to carry even just a modest percentage of that load. Like it or not, in the beginning especially, it's going to hold the price of xrp back. Even at "only" twenty or thirty cents, the price appreciation of xrp has been phenomenal as compared to 0.006 of only a short time ago - chill out people! If you don't believe in what the Ripple Team is already well on their way to accomplishing, then go elsewhere, do your homework, and see if you can find any other company that's as well thought out and is executing their plan as well as they are. This "when Lambo" mentality is so short-sighted as to be comical. Nothing in business or life is guaranteed, and I full well expect that Ripple will experience both set backs and failures along their way, but I'm also confident that their successes, over time, will eclipse these as they literally re-write the history of instantaneous money transfer as they establish the IoV. As always, time will tell.....   

Is this timing flip for real? 

Edited by Guest
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9 hours ago, Greeny said:

Good news came out yesterday with the R3 and Swift partnership, we all got excited so the day traders used that as a time to do a 14% pump and dump.  24 hours later right back at the 30 cent range and probably about to fall into the upper 20s.  I will admit that article  about all of ripples partners been scams, was a bit unnerving to me .  I have been around this firm for a long time and was a serious believer in Ripple,  but admit that I am starting to have doubts about their future.

 

I hope I can be helpful here rather than sarcastic and condescending. The partnerships aren’t fake and the ones that seem small are for the FUDsters to say “it’s just a small insignificant partner”.  From my perspective, XRapid will be ideal for remittance companies and eventually corporations. These are just starting to kick off now. The big banks that everyone is waiting on will eventually hold XRP. Once they can figure out custodial solutions, I believe they will hold also for large transfers. That will probably start this year if Brad is correct in saying that 2019 is the year banks begin holding XRP. Once they hold it themselves I’m not sure XRapid is required and R3 may be more in play to use XRP for settlement globally. Last, SBI formed joint ventures with both R3 and Ripple. SBI owns 60% of each. They didn’t do this to promote xcurrent and think XRP wouldn’t work. Xcurrent isn’t a huge advantage over Swift GPI. The end game is to use corda settler for cross border transfers and settle with XRP ultimately once banks hold directly. XRapid remains valid through remittance companies and alternate use cases. 

My 2 cents and mostly educated guessing but a lot of companies throwing money and infrastructure at this. I say follow the money. 

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28 minutes ago, Trickery said:

So you took a loss to offset your gains? That sounds dumb.

Any XRP bought in 2018 that was higher than EOY price, sell and take tax deductions.  Buy back XRP then at start of new tax year.  You're paying taxes on gains regardless so you might as well tax deductions on losses purchased at higher given how the system works.  A good CPA can help you navigate.

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1 hour ago, kryptoroi said:

I anticipate a lot of those pump and dump actions as they are becoming more and more obvious. But my only worry is about the tax man. Don't you have to pay taxes everytime you trade?? Thats the only thing thats keeping me away from swing or day trading.

You only pay taxes on total gains. Just means you need to keep track of what you put in and come tax time if the value of what you've accumulated is more than what you put in from your own pocket, pay taxes on it. If it's too high to cover out of your pocket just sell off some of the crypto to cover it. That's what you're supposed to do.

The only way people wind up in trouble is when they cash out and then spend that money without putting any aside for taxes.

U.S. anyway. Not a tax attorney, could have it wrong, but this is how I understand it to be.

Edited by gamedev368
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2 hours ago, KaaKaRmA said:

I wouldn’t worry about taxes. You’ll come out ahead. I sold a lot of XRP at eoy to take a loss and then bought back in Jan 1st. Have to be smart and strategic when you can. 

I believe that’s a wash sale and not eligible to take a loss on 

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Yesterday was just a pump because people assumed that SWIFT was automatically use XRP in their settlement(they are not). Most of the people in the know probably already knew that wasn't the case and SWIFT published some documentation saying they were going to settle n fiat rails with corporate banks a while later. Whales knew that it didn't mean any giant rise in XRP so they just pumped the price on the hopium because the XRParmy is for the most part, a bunch of gullible kids that will believe in just about anything good about XRP. Then they dumped and we are going back to 28.5 cents or so.

For this of us that are in it for 3-5 years investment time, this is nothing to be worried about.

Edited by Archbob
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14 hours ago, Greeny said:

Good news came out yesterday with the R3 and Swift partnership, we all got excited so the day traders used that as a time to do a 14% pump and dump.  24 hours later right back at the 30 cent range and probably about to fall into the upper 20s.  I will admit that article  about all of ripples partners been scams, was a bit unnerving to me .  I have been around this firm for a long time and was a serious believer in Ripple,  but admit that I am starting to have doubts about their future.

 

Here are the previous pump and dumps of XRP/USD:

  1. Time Traveler's Post-mortem pump & dump [bear market begins]
  2. Greedy Gobs Beating
  3. Whappy The Whale Flappy take down
  4. Riddler's Enema
  5. Chinese Hopium Spring
  6. Summer Tricky Man
  7. Screw The Fish in the barrel letdown
  8. Apathy Andy's Kidney Sale Run up
  9. Swell Moon Bamboozle
  10. Willy The Whale's Shenanigan
  11. The Bear Whale's Last Dump
  12. Lagarde's Lizard Disco Squash [Yesterday's pump & dump]

Welcome to the crypto bear market.

2019-02-01 06_19_01-XRP-USD Interactive Stock Chart _ Ripple USD Stock - Yahoo Finance.png

Edited by hallwaymonitor
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