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Cashing Out

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8 hours ago, Eric123 said:

@mariusthegreat what are you basing 7 years on?

In Dec 2017 the price of XRP moved from .22 to $3.30 in the span of 3 weeks, and it started the year at .005.  This isn't really a gradual mover.  Also, to succeed as a bridge currency the price of XRP will have to increase dramatically to create the necessary liquidity.  If that doesn't happen soon it will probably just fail as something else will move into the space.  I'd think movements are going to have to be dramatic and within a year or two at the latest if XRP is too succeed at all.

Totally agree, if Ripple do not get this baby off the ground price wise soon, it aint gunna happen...2 years absolute max...

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3 hours ago, tony71 said:

What  annuity  would you recommend ?

I am definitely not a financial advisor and I've only just started looking into these types of policies, but I've been looking at joint life annuities, possibly with a guaranteed term. The annuity covers me for the full length of my life, and the "joint" passes the income to my wife seemlessly if I pass, to the end of her life. The guaranteed term just ensures that if both my wife and I die before the selected term, our selected beneficiary recieves a portion of the remaining principle back. We would just have to decide whether the decrease in annual income and the risks associated deem it sensible to go with the guaranteed term. The nice thing about an unregistered annuity (an annuity purchased with your own "unregistered" investment gains), at least in Canada, is that you only pay income taxes on interest portion of the payments you recieve. For instance, if you purchase a $1,000,000 annuity in Canada at 55 right now you will recieve approx. $47,000/yr pre-tax and almost $45,000/yr after tax... obviously because you've already paid capital gains tax when you cashed out, which in Canada works out to probably be about 20-25%.

With annuities you do leave a bit of money on the table, but for me, I might be fine with giving up a bit to gain certainty for the rest of my life and my wifes. I've been self employed for well over 20 years so there's no company pension coming my way and who knows if CPP (social security) will be there for me when I come of age.

Edited by MrVH

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15 hours ago, XRPboi said:

@Eric123 nobody seems to know what drove the market in 2017 (or what subsequently crashed it),

Really?? Do you get your info from CNBC cause those limp d*&ks don't know anything.  I'll tell you exactly what happened in 2017. 

In anticipation of the futures market (cash settled only which is really just gambling with leverage, as this doesn't touch the block chain or exchanges) People with no bitcoin and a lot of $$ bought bitcoin on the exchanges driving up the price, CNBC picked up the price spikes and NOOBs FOMO'ed and piled in driving the price even higher. 

Once the futures markets were open the big players went short with leverage on the futures markets then started to dump the bitcoins they bought on the exchanges to drive the price down.  They took advantage of the leverage the futures markets provided and they cleaned up.

The above notwithstanding, the price spikes and crashes are basically a characteristic of the crypto markets and they help drive awareness, adoption and innovation.  So honestly it is going to happen again probably at least another two times. (This sentence is just my opinion but I'll bet an OMG payable in 2022 that I'm right. At that time it should be worth about $1,000)

 

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4 minutes ago, Eric123 said:

This sentence is just my opinion but I'll bet an OMG payable in 2022 that I'm right. At that time it should be worth about $1,000)

What do you think one xrp is worth in 2022?

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52 minutes ago, Eric123 said:

Really?? Do you get your info from CNBC cause those limp d*&ks don't know anything.  I'll tell you exactly what happened in 2017. 

In anticipation of the futures market (cash settled only which is really just gambling with leverage, as this doesn't touch the block chain or exchanges) People with no bitcoin and a lot of $$ bought bitcoin on the exchanges driving up the price, CNBC picked up the price spikes and NOOBs FOMO'ed and piled in driving the price even higher. 

Once the futures markets were open the big players went short with leverage on the futures markets then started to dump the bitcoins they bought on the exchanges to drive the price down.  They took advantage of the leverage the futures markets provided and they cleaned up.

The above notwithstanding, the price spikes and crashes are basically a characteristic of the crypto markets and they help drive awareness, adoption and innovation.  So honestly it is going to happen again probably at least another two times. (This sentence is just my opinion but I'll bet an OMG payable in 2022 that I'm right. At that time it should be worth about $1,000)

 

The draconian regulations in S. Korea that ended the zillions of people there trying to arbitrage cryptos was probably part of it too, in my view. But I agree with you 100% on the effect of futures trading.

And I wouldn't argue with your prediction either. But I hope to be out by very early in 2022, which I predict to be a very bad year for most markets...not sure about cryptos, but probably them too at some point that year.

Idle speculation, of course. Anything can happen.

Edited by dr_ed

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4 minutes ago, dr_ed said:

The draconian regulations in S. Korea that ended the zillions of people there trying to arbitrage cryptos was probably part of it too, in my view. But I agree with you 100% on the effect of futures trading.

And I wouldn't ague with your prediction either. But I hope to be out by very early in 2022, which I predict to be a very bad year for most markets...not sure about cryptos, but probably them too at some point that year.

Idle speculation, of course. Anything can happen.

2022 XRP will be number 1 and be worth at least 1k usd. 

Had an interview with a hedge fund last week and they are setting up a crypto fund in Malta this year summer.

They asked me if I knew anything about crypto currencies. I mentioned bitcoin and of course XRP. They then asked me if I understood the fundamentals behind BTC and also XRP, to be fair I struggled with BTC as I believe it is a case of who ever wants to pay more for it etc and that drives the price, no utility in the real economy etc. that said I knew a lot about XRP, they did remark that they see that as the major coinbwith intrinsic value and it’s crosse i’s and dotted t’s and technology wise the major disruptor. 

True story, I mention this as the interview was last Friday and haven’t heard from them so don’t think I got it? Also haven’t signed an NDA LOL 😬

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10 minutes ago, dr_ed said:

That's exciting.

And it points up the major problem with XRP, which is how do you value it. I couldn't see most funds going big on cryptos they can't value. 

Personally I think that funds will be more interested in Ripple stock at the minute.

They will probably hedge using the coins in the crypto coin market. I predict in about 10 years all the current crypto exchanges (bar CoinBase),  where we operate will be banned and only regulated (IMF, sovereign) exchanges will function. The current exchanges aren’t reliable enough and almost ;if not all, are fraudulent. With exchanges, I feel the writing is already on the wall.

The coin is more attractive for moving funds. The more reliable and valuable in monetary the tech / XRP, the more attractive the stock. That is how I look at it. 

 

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17 minutes ago, mariusthegreat said:

2022 XRP will be number 1 and be worth at least 1k usd. 

Had an interview with a hedge fund last week and they are setting up a crypto fund in Malta this year summer.

They asked me if I knew anything about crypto currencies. I mentioned bitcoin and of course XRP. They then asked me if I understood the fundamentals behind BTC and also XRP, to be fair I struggled with BTC as I believe it is a case of who ever wants to pay more for it etc and that drives the price, no utility in the real economy etc. that said I knew a lot about XRP, they did remark that they see that as the major coinbwith intrinsic value and it’s crosse i’s and dotted t’s and technology wise the major disruptor. 

True story, I mention this as the interview was last Friday and haven’t heard from them so don’t think I got it? Also haven’t signed an NDA LOL 😬

you should give them some links to Galitron's blogs about Bitcoin

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21 hours ago, mariusthegreat said:

It’s 0.43 lol 

save those pipe dreams for at least 7 years imo 

dude

26 minutes ago, mariusthegreat said:

2022 XRP will be number 1 and be worth at least 1k usd. 

@mariusthegreat not to be a stickler for consistency, but c'mon man.

 

@VanHasen I pretty confident we will break $10 in the next bull run which I see happening in 2020, with $30-$40 being possible. Honestly, I've heard some huge numbers being thrown around like $100 or $1,000 and who knows maybe that can happen, I certainly hope so.$$$

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15 minutes ago, mariusthegreat said:

Personally I think that funds will be more interested in Ripple stock at the minute.

They will probably hedge using the coins in the crypto coin market. I predict in about 10 years all the current crypto exchanges (bar CoinBase),  where we operate will be banned and only regulated (IMF, sovereign) exchanges will function. The current exchanges aren’t reliable enough and almost ;if not all, are fraudulent. With exchanges, I feel the writing is already on the wall.

The coin is more attractive for moving funds. The more reliable and valuable in monetary the tech / XRP, the more attractive the stock. That is how I look at it. 

 

I use XRP to move funds. Why wouldn't the bigger players see the benefit of using XRP as their go-to?  It's blazing fast. Definitely my choice for putting money on any exchange that has an XRP pair. I think that this is a real utility that has nothing to do with banks.

Interesting take on the future of exchanges. I do expect the regulators will weigh in with a heavy hand at some point. Maybe that's good.

Ripple stock is priceless in my view. I wish I owned some. Can it be bought by the big private money guys you're talking about? How does that work for a private company? Not something I know much about.

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Just now, dr_ed said:

I use XRP to move funds. Why wouldn't the bigger players see the benefit of using XRP as their go-to?  It's blazing fast

Agreed.  Just recently I had to clear out my bittrex account onto Nano so I was moving several different coins.  Nothing moves as fast as XRP.

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