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Charting the course of XRP


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23 minutes ago, Troote said:

It is purely down to personality and character. Many wealthy people are rather clever, understand lifestyle creep and very actively fight it.

Agreed, it’s all about the individual, not the money. Having all the money in the world just allows you to be who you are without having to worry about what anybody else thinks. If that’s a raging ******* then that’s what you’ll be. If you’re just a cool dude though, you’ll just continue being a cool dude, and perhaps even cooler because now you’ll be able to do things your budget previously did not allow. 
 

12 hours ago, retep said:

Hell, i have so much hobbies, that i would need an extra 100 years to live, so i would never ever get bored, and then status and power is a thing that wouldn't even come to my mind, because i love to be left alone

We seem to be very alike in very specific ways, and very different in others! I also don’t care about any of that and LOVE being left alone. I also have way too many hobbies, I’m always tinkering with something or learning new things. I also don’t care about power and status, and honestly, even with all that money, sure I’d get a VERY nice house but, I wouldn’t want it to be too big, because I like keeping everything clean, and the bigger the house, the more I have to clean and no, I won’t have maids because I don’t like anyone wandering around my house or touching my stuff or moving anything around. People think being rich automatically makes you into an a hole with incontrollable spending habits and that you’ll lose it all buying a big house and flashy cars, spending too much on traveling and flashy clothes and this and that. Sure, most of that applies to the average person, but I am anything but average. I’m pretty much a hermit that likes to be left alone most of the time and doesn’t like attention, so I don’t need any of that flashy or fancy stuff. I have a small group of friends who are very loyal and have been the same since I was a child. We’ll most likely die being friends, still having our simple and fun gatherings like we always do.  I do like gadgets though, and they tend to be expensive but I’ve been able to buy every gadget/tool I’ve wanted with my own income and still have zero debt, so I sure as hell wouldn’t mess up with extra “crypto moonshot” money. 
 

TLDR: More money will only have a positive impact in my life and it certainly won’t “change me” like people think it does. 

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4 hours ago, Elysium2030 said:

Money does not change everything, but it changes a lot, because every form of expression of your wealth also changes your environment.

Let's say you are a normal dude with a medium income and all your friends are also normal dudes with medium incomes. Now you suddenly have a few million dollars and you spend a little more money than usual. Your house gets a little bigger, the furnishings more luxurious, the TV bigger, whatever, maybe a convertible, the food gets higher quality, the vacations a little more expensive, the free time a little more.

All of that has an effect - on you, and on your dudes, too. Some of them will be envious, others will feel that you're out of touch, or that they're "not good enough" anymore, etc.
You yourself will no longer be able to imagine eating the cheap cheese from the supermarket, your own demands will inevitably rise.

Everything we do changes us and changes our environment.
If everything is to remain as it is, do nothing, but then you don't need several million, because you don't use them anyway.

My text sounds very negative now, but of course it can also develop in a completely different direction. You will become a much better person, your intercourse will be better, you will get new friends who are better people than your old ones and so on.

 

 

Wise words.  I moved from a two bedroom flat in London to a 4 acre mansion in West Wales, and it is as you say.

I think if you spend your money to buy an Aston Martin because you think your deserve to look better than others.  If you travel business or first class because you think you deserve a better seat than others on the plane.  If you believe you should be privileged above others, then you have lost your humility and you are ruined.

Money opens doors.  It brings you opportunities to blossom, broaden your horizons and give richly with out worrying about where the money will come from, that's all.  It does not make you better than other people.

Edited by Julian_Williams
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24 minutes ago, Neurotoxin said:

Agreed, it’s all about the individual, not the money. Having all the money in the world just allows you to be who you are without having to worry about what anybody else thinks. If that’s a raging ******* then that’s what you’ll be. If you’re just a cool dude though, you’ll just continue being a cool dude, and perhaps even cooler because now you’ll be able to do things your budget previously did not allow. 
 

We seem to be very alike in very specific ways, and very different in others! I also don’t care about any of that and LOVE being left alone. I also have way too many hobbies, I’m always tinkering with something or learning new things. I also don’t care about power and status, and honestly, even with all that money, sure I’d get a VERY nice house but, I wouldn’t want it to be too big, because I like keeping everything clean, and the bigger the house, the more I have to clean and no, I won’t have maids because I don’t like anyone wandering around my house or touching my stuff or moving anything around. People think being rich automatically makes you into an a hole with incontrollable spending habits and that you’ll lose it all buying a big house and flashy cars, spending too much on traveling and flashy clothes and this and that. Sure, most of that applies to the average person, but I am anything but average. I’m pretty much a hermit that likes to be left alone most of the time and doesn’t like attention, so I don’t need any of that flashy or fancy stuff. I have a small group of friends who are very loyal and have been the same since I was a child. We’ll most likely die being friends, still having our simple and fun gatherings like we always do.  I do like gadgets though, and they tend to be expensive but I’ve been able to buy every gadget/tool I’ve wanted with my own income and still have zero debt, so I sure as hell wouldn’t mess up with extra “crypto moonshot” money. 
 

TLDR: More money will only have a positive impact in my life and it certainly won’t “change me” like people think it does. 

Like i said earlier, i would already be happy with 50k a year after taxes, because then i don't have to work anymore and can even buy a better home and lead a little above normal life, and i would be very happy with that, and when there would be more money, well then i could buy more toys and gadgets that make me even more happier, but 50k would be fine for me to start with.

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On 7/30/2021 at 10:41 AM, Neurotoxin said:

Nope, and anybody who claims to know for certain is bs-ing you. 

Well when i look at the long term, then i see that we are in an upward trent for about 2 weeks now, and we didn't see that since the second ath, so it sure looks like a new bull run is in the making ( i hope)

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2 hours ago, retep said:

Well when i look at the long term, then i see that we are in an upward trent for about 2 weeks now, and we didn't see that since the second ath, so it sure looks like a new bull run is in the making ( i hope)

Or dead cat bounce 🤣🤣🤣

Sincerely yours

Nuke

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3 hours ago, xrp-nuke said:

Or dead cat bounce

We're close to the critical area that you often mentioned (about 42k if I remember well). What's your idea? Are we still under that threshold?

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Disclaimer: This is not investment advice. Consider it risk-mitigation advice.

Most of you know I’m long XRP and Ripple. That said, I’d like to reiterate some unsolicited advice. Regulations are coming and it will be very ugly before it gets better.

This is about crypto in general and not XRP-specific. Hundreds and thousands are likely to get rekt in the next few months. We will see exchanges collapse.

  • Get out of USDT. 
  • Get out of leverage trades. Especially USDT powered.
  • If you took loans off our crypto, be ready to pay them back at short notice.
  • Take your crypto off of centralised  exchanges into your own wallets at a minimum.
  • Don’t spend money on obscure tokens.
  • If you have life changing amounts, use every opportunity to book profits and consider getting out of crypto. You’ll get a chance to get back in during second half of 2022. 
  • If you are in the US, do not try to sneak around rules by using VPN and stuff. It is not worth it. There are plenty of good, supported tokens.
  • Consider not using Binance to hold your funds.

I don’t plan on doing anything with XRP until the lawsuit reaches a conclusion - one way or another.

I don’t plan on selling my TZERO position. 

I have a small equity exposure to crypto, which I plan on selling off in the next few weeks.

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22 minutes ago, Ripley said:

Disclaimer: This is not investment advice. Consider it risk-mitigation advice.

Most of you know I’m long XRP and Ripple. That said, I’d like to reiterate some unsolicited advice. Regulations are coming and it will be very ugly before it gets better.

This is about crypto in general and not XRP-specific. Hundreds and thousands are likely to get rekt in the next few months. We will see exchanges collapse.

  • Get out of USDT. 
  • Get out of leverage trades. Especially USDT powered.
  • If you took loans off our crypto, be ready to pay them back at short notice.
  • Take your crypto off of centralised  exchanges into your own wallets at a minimum.
  • Don’t spend money on obscure tokens.
  • If you have life changing amounts, use every opportunity to book profits and consider getting out of crypto. You’ll get a chance to get back in during second half of 2022. 
  • If you are in the US, do not try to sneak around rules by using VPN and stuff. It is not worth it. There are plenty of good, supported tokens.
  • Consider not using Binance to hold your funds.

I don’t plan on doing anything with XRP until the lawsuit reaches a conclusion - one way or another.

I don’t plan on selling my TZERO position. 

I have a small equity exposure to crypto, which I plan on selling off in the next few weeks.

I presume this is relating to Gensler and the US regulatory plans?   When do you think this event is going to hit and how much do we know about their plans?

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7 minutes ago, Julian_Williams said:

I presume this is relating to Gensler and the US regulatory plans?   When do you think this event is going to hit and how much do we know about their plans?

Not Gensler. Much bigger.

Feds have been calling out USDT explicitly. A lot of crypto is propped up by Binance + highly leverage USDT liquidity. Even a little bit of action there will crumple the whole thing. Actions against Binance are on going and a new DOJ investigation is likely under way around possible bank fraud in early days of tether.

Other regulatory changes around AML/KYC, even for DeFi is inevitable.

I am much less worried about the impact on crypto markets from Warren/Gensler stuff. 

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