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XRP_Almighty_Q

What Is Your Exit Strategy?

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8 minutes ago, Babelly said:

Everyone will be gone by 50$.  If you won't be, then i think your stack is to small.

Not sure what you think the average stack is, but let's say you were just coming into the top 5% at around 10,000 XRP... that's only 1/2 million USD. Less tax etc, back in GDP that buys you a very average house in the UK...we not talking retiring money unless you much older.

My cash exit strategy... very boring. If the price is utility based, there should be no rush to "cash out", and even see steady growth over time.

I'll bring it back to cash when the rush is over...

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7 minutes ago, XRP-JAG said:

Not sure what you think the average stack is, but let's say you were just coming into the top 5% at around 10,000 XRP... that's only 1/2 million USD. Less tax etc, back in GDP that buys you a very average house in the UK...we not talking retiring money unless you much older.

My cash exit strategy... very boring. If the price is utility based, there should be no rush to "cash out", and even see steady growth over time.

I'll bring it back to cash when the rush is over...

umm your maths is slightly off there. OP said 1000 usd per xrp. 10,000 x 1000 usd = 10 million usd or 8.2 million GBP.

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3 minutes ago, baobeiiiii said:

umm your maths is slightly off there. OP said 1000 usd per xrp. 10,000 x 1000 usd = 10 million usd or 8.2 million GBP.

 

3 minutes ago, baobeiiiii said:

ah nevermind.. u meant at 50 usd. 

Yar, got me one dem new calcumerlators :crazy:

:biggrin:

 

I think I could consider giving up work at 8.2 million :D 

Be interesting to know what the average stack is to be honest. The early ones here could have some serious stacks for not a lot of cash. If you came in like me at ATH (d'oh)... then it's a lot of $$ investment to get retiring money at $50 USD.

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10 minutes ago, XRP-JAG said:

Not sure what you think the average stack is, but let's say you were just coming into the top 5% at around 10,000 XRP... that's only 1/2 million USD. Less tax etc, back in GDP that buys you a very average house in the UK...we not talking retiring money unless you much older.

My cash exit strategy... very boring. If the price is utility based, there should be no rush to "cash out", and even see steady growth over time.

I'll bring it back to cash when the rush is over...

I hear ya, but at some point the price will stabilize based on utility and from there speculation will drive price movements.  I guess what I'm saying is, or assuming, is that most members including myself will be out before XRP hits 50$.  However i will keep a few thousands XRP for the long haul just cause. Cheers from the USA.

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2 minutes ago, XRP-JAG said:

I think I could consider giving up work at 8.2 million :D 

Yeah that's def enough. Not enough if you rediculously change your lifestyle though. But that is def enough to live comfy and in luxury. 

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2 hours ago, XRP_Almighty_Q said:

Let's just keep it to how you're going to get your money and how you plan to store it.

OTC for cashing out.  If you have no ideas about what to do with your newly found pile of cash,  pick up a book on "harry browne permanent portfolio" and take it from there.  Here's a preview:  https://seekingalpha.com/article/4247711-enhancing-harry-brownes-permanent-portfolio

 

Edited by automatic
added overview link

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41 minutes ago, automatic said:

OTC for cashing out.  If you have no ideas about what to do with your newly found pile of cash,  pick up a book on "harry browne permanent portfolio" and take it from there.  Here's a preview:  https://seekingalpha.com/article/4247711-enhancing-harry-brownes-permanent-portfolio

 

That's actually sound advice. Wonder if there is a version of that for non-americans tho.

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5 hours ago, XRP_Almighty_Q said:

Ok.  Let's say you have 100k XRP and the price hits $1,000.  You move half (or whatever you like) of your XRP holding to a stable coin and you now have 50 MILLION DOLLARS USD! :D

First off, nobody - not one person - will do what you describe.

That being said, let's say I held my 100K XRP to $10 with the mind to cashing out.   I click "sell" at $10, now I have $1,000,000 USD in my Bitstamp account.  I'd have to transfer it to my bank account first of all, which would instantly make me liable to 20% capital gains tax (bank account in UK, UK citizen).  $800K left.  I'd put $500K into gold/silver and treat that as my savings account over the next 20 years.   I'd put $250K into other investments and leave $50K in the bank. 

To quote Max Keiser, only put as much money in a bank account as you're willing to lose.  I would minimise my exposure to fiat currency.  The end goal for governments is negative interest rates and the banning of cash.  If we know that's the goal (and it is), get ahead of the crowd. 

 

 

 

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14 hours ago, XRP_Almighty_Q said:

I'll keep this short and simple.

Ok.  Let's say you have 100k XRP and the price hits $1,000.  You move half (or whatever you like) of your XRP holding to a stable coin and you now have 50 MILLION DOLLARS USD! :D

What do you do?

Swiss bank account?  Ok... How?  I'd be so nervous that someone would try to cheat me.  First you have to get the money out of your wallet.

By that time, let's say that exchanges and digital wallets are transferring money using XRP so it's fast (I assume they don't do this today because the banks aren't using it).  Where do you put 50M?

Do you have to get 200 bank accounts? (250k FDIC insured)  Can you get 1 Swiss Bank Account or Cayman Islands account? (I have no idea about this)

What would this look like?  Are there higher interest bearing accounts for people with that kind of money?

 

This isn't about price, so please no "XRP will never hit $1000".  Let's just keep it to how you're going to get your money and how you plan to store it.

 

Let's take a break from the usual daily contention and DREAM a bit! :lol:

 I just would swap my xrp for btc and then sell it on bitonic for euro's. And i live in holland, so here i pay about 1% tax on the profits i made,

and that's all the irs is going to get, ha!:yahoo:

And 50 million? I would already be happy with 5 million, because that would be enough for a not to big house near the water, a half million dollar

yacht moored in my backyard, 2 jetski's on the side, 2 nice cars and a motorbike in the garage, and then still have 3-3,5 million left to live on

for the rest of my life. And my house would be somewhere where the weather is 90% sunshine and the sea is clear as tapwater and warm al year round, 

and then never ever work again, and i would have a very small closet for my clothes, because all i need is swimshorts, t-shirts and flipflops.

And every few months a new girlfriend, because when you keep them longer, they might demand half your s**t,  and we can't have that,

so "trade" them in for another fine specimen. :JC_doubleup:

 

 

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