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Charting the course of XRP


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I was participating undercover :).  The trolls became too overwhelming while XRP was in the dumps, I figure its safe to come out again.

There are actually several lawyers in the crypto space who have analysed the case extremely closely explaining how the case will likely play out. Given that these lawyers are either BTC or ETH maxis a

These threads are being derailed by childish banter, could you please keep things on topic and move your chit chat elsewhere. The forum is becoming less interesting for many of us.

10 minutes ago, Reco said:

I have buy orders just above 1 usd to buy back a big slice of the xrp I sold just below 1.9 usd

It was meant as profit taking which eased digesting the pullback. But at almost half the price I sold, I gladly buy back. Not sure, if it will go that low though. 

And this is the conundrum, We Where Supposed To Cash Out...and buy that medium priced treat rather than A Good Meal W/ A Submit Button For Desert... arrggghhhh, when will it ever end, the hunger, the buybacks... lol...

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1 hour ago, w1s said:

Don’t read this and think I’ve panicked. I sold all of my xrp and invested in other crpyptos. I don’t see it recovering for a long time. I’ll buy back later with the profit I’ve made elsewhere. Time is money right :D

 

why I sold all? Cmon it’s xrp. Shit coins go up. We ge down down. Stay down. Maybe someday. Maybe. Was fun!

And here lies a big part of the problem with crypto and crypto advice givers (not necessarily with you but those that jump from coin to coin). In countries like Australia and I believe the USA, every move from one coin to another other creates a capital gain/loss event that should be reported. So many "investors" who bounce around from coin to coin fit into one of three types, those that...

1. Declare gains and pay tax on them.

2. Haven't got a clue that they need to.

3. Know that they have to pay tax but don't declare it.

Any legitimate investors (type 1 above) would have to figure this into their sums and then HODLing becomes far more attractive as an option (especially since many countries give discounts on gains if an asset is held over 12 months)... and I honestly don't think there are many coins you want to be into for extended periods of time. As Brad G has said on many occasions most of what is out there is a science experiment, probably just as true now as when he said it. (BTC, ETH and XRP should be part of any portfolio). (And FLR since we're getting it for free). 

PS. Sure diversify but the main stayers should probably be the biggest percentage of any portfolio. 

PPS. I have never understood the all in or all out attitude that seems to plague crypto. I bought XRP (along with other coins) in April 2017 @ $0.008 - yes UNDER 1 cent sold a quarter in the first week of Jan 2018 at ATH  (paid the TAX)...certainly has made the ups and downs more tolerable (and fun to watch).

 

NOT INVESTMENT ADVICE. I DO RECOMMEND CHECKING WITH YOUR TAX AUTHORITY TO SEE WHAT NEEDS YO BE DECLARED. THE LAST THING YOU WANT TO HAPPEN IS WORK HARD TO MAKE GAINS AND LOOSE THEM IN FINES.

 

Edited by Mars
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Reasons I think the BTC bull run might be over:

1. We are way, way above the previous ATH. Anyone buying BTC right now is buying at a premium. Smart money doesn't buy at the top. It is only a matter of time before they sell.

2. Each break above a new high has been getting shorter before pulling back. This is not the sign of an energetic bull.

3. BTC spent two weeks getting above 60k, and when it finally did the first thing it does is fall right back down. If the chart breaks above a level it should at least consolidate in that new range before moving on. Instead, BTC is right back in the range it spent the last few weeks in. 

4. People talk about market cycles. Any cycle in BTC has happened like 2 or 3 times? This is hardly an ironclad law of the market. Get back to me when BTC has followed that pattern for a hundred years. There is nothing magic about drawing a fib on the chart and saying 'this is the target'. 

5. Thanks to Doge, the idea that crypto is just fake internet money is back in people's minds. Sooner or later people are going to expect crypto projects to actually, you know, do something. Maybe that is happening as we speak?

I don't think XRP is done. I don't think alts are done. But maybe BTC is done for now. Either a long decline or going sideways for a long time. I think the era of new highs every week is over for now on BTC. 

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17 minutes ago, Seoulite said:

Nice sell! Working out well for you. Yeah I don't know if those orders will get triggered, but at least you have the money in your pocket!

I don't care that much for the buy orders. I thought a retest of 1 usd was far fetched but here we are. 

The sell was planned months ago to take out my initial investment. If it went up I would be happy (still have 80% of my stash), if it went down I would have felt I made the correct call. It was a win win situation. I can only advise it to everybody here. Especially the ones on here caring to the extreme about their investments, panicking about every dip/crash. 

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8 minutes ago, robertbruce said:

And this is the conundrum, We Where Supposed To Cash Out...and buy that medium priced treat rather than A Good Meal W/ A Submit Button For Desert... arrggghhhh, when will it ever end, the hunger, the buybacks... lol...

I'm only buying back with 30% of the cash I got from selling. The other 70% is going to my bank account. 

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16 minutes ago, Seoulite said:

People talk about market cycles. Any cycle in BTC has happened like 2 or 3 times? This is hardly an ironclad law of the market. Get back to me when BTC has followed that pattern for a hundred years. There is nothing magic about drawing

Depending on your TA religion, one can  count 8 tops in 2017, but yeah keep drama 🤣🤣🤣

 

Edited by xrp-nuke
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19 minutes ago, Seoulite said:

BTC spent two weeks getting above 60k, and when it finally did the first thing it does is fall right back down. If the chart breaks above a level it should at least consolidate in that new range before moving on. Instead, BTC is right back in the range it spent the last few weeks in. 

Similarity with summer 2017

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47 minutes ago, Seoulite said:

Reasons I think the BTC bull run might be over:

1. We are way, way above the previous ATH. Anyone buying BTC right now is buying at a premium. Smart money doesn't buy at the top. It is only a matter of time before they sell.

2. Each break above a new high has been getting shorter before pulling back. This is not the sign of an energetic bull.

3. BTC spent two weeks getting above 60k, and when it finally did the first thing it does is fall right back down. If the chart breaks above a level it should at least consolidate in that new range before moving on. Instead, BTC is right back in the range it spent the last few weeks in. 

4. People talk about market cycles. Any cycle in BTC has happened like 2 or 3 times? This is hardly an ironclad law of the market. Get back to me when BTC has followed that pattern for a hundred years. There is nothing magic about drawing a fib on the chart and saying 'this is the target'. 

5. Thanks to Doge, the idea that crypto is just fake internet money is back in people's minds. Sooner or later people are going to expect crypto projects to actually, you know, do something. Maybe that is happening as we speak?

I don't think XRP is done. I don't think alts are done. But maybe BTC is done for now. Either a long decline or going sideways for a long time. I think the era of new highs every week is over for now on BTC. 

Meh. I just bought more BTC at 53k. 

Edited by HenrySeldom
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58 minutes ago, Seoulite said:

I don't think XRP is done. I don't think alts are done. But maybe BTC is done for now. Either a long decline or going sideways for a long time. I think the era of new highs every week is over for now on BTC. 

I would love to have BTC stay at current level for the next few weeks, just sit at 55k! People who sell BTC for profit will then invest on ALT coins that will move! Then we get a chance to come back to where we should be.

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1 hour ago, Mars said:

And here lies a big part of the problem with crypto and crypto advice givers (not necessarily with you but those that jump from coin to coin). In countries like Australia and I believe the USA, every move from one coin to another other creates a capital gain/loss event that should be reported. So many "investors" who bounce around from coin to coin fit into one of three types, those that...

1. Declare gains and pay tax on them.

2. Haven't got a clue that they need to.

3. Know that they have to pay tax but don't declare it.

Any legitimate investors (type 1 above) would have to figure this into their sums and then HODLing becomes far more attractive as an option (especially since many countries give discounts on gains if an asset is held over 12 months)... and I honestly don't think there are many coins you want to be into for extended periods of time. As Brad G has said on many occasions most of what is out there is a science experiment, probably just as true now as when he said it. (BTC, ETH and XRP should be part of any portfolio). (And FLR since we're getting it for free). 

PS. Sure diversify but the main stayers should probably be the biggest percentage of any portfolio. 

PPS. I have never understood the all in or all out attitude that seems to plague crypto. I bought XRP (along with other coins) in April 2017 @ $0.008 - yes UNDER 1 cent sold a quarter in the first week of Jan 2018 at ATH  (paid the TAX)...certainly has made the ups and downs more tolerable (and fun to watch).

 

NOT INVESTMENT ADVICE. I DO RECOMMEND CHECKING WITH YOUR TAX AUTHORITY TO SEE WHAT NEEDS YO BE DECLARED. THE LAST THING YOU WANT TO HAPPEN IS WORK HARD TO MAKE GAINS AND LOOSE THEM IN FINES.

 

My shit country can’t see what I have on bitstamp. So I really don’t care. Nor will I pay tax, nor do I have anything on my name. Can’t take anything if I don’t own it. I would LOVE to pay tax. But here even the DOCTORS steal money (they log in to work, but they are at home). And noone is in jail. Total shit country. So **** them. Tax is mine. 

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