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I exchanged majority of my XRP for BTC


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On, or around april 28 2019 (3-4 months ago) I made decision to exchange majority of altcoins for BTC

The largest part of my altcoin was XRP. I exchanged 80% of XRP for BTC

Why I did this?

1: i saw pattern repeating for a few months, where BTC was gaining dominance, bitcoin go up, bitcoin stops and do a bit of side movement, then all alts partially follows, bitcoin drops a bit, altcoins go up a bit partially (not all), bitcoin then falls a lot, altcoins follows a lot more. As result btc got to over 5k$ at that time, while xrp got to nowhere.

2: Tip of ice for me was eye opener when some dude from Ripple (everyone knows who i am talking about) sold a lot of his XRP-s and when I mentioned this here I got messages like "you should not speak about that here, thats Joel Katz private thing". I found that alarming, not the fact he was selling, but def reaction of this community, like please noone speak about that. Someone might mention as example Bezos selling his share in Amazon, amazon is doing awesome, but i doubt it cant go up 100% in 2 years and Bezos invested money somewhere where he think he will get more in %. Now imagine people would be prohibited speaking about Bezos selling his stake in Amazon.

3: I dont thing selling (on top selling under price) is good thing, def will say it good on long term to bring adoption in..BS.

4: Ripple si doing good I think, but xrp is doing capital BAD, compared to BTC, and I think that ratio will just increase in favor of BTC

3 months passed, so far I am happy with my decision, perhaps with time all the sudden xrp will spike and i will be sorry, but every new month I am so far happy with my decisions. I see pattern more or less keeps repeating.

I better not think what would happen with XRP if BTC now all the sudden start falling to 6, 5, 4k. Disaster for XRP if you ask me

If i look into Sep 2019 and on, I see possibility for XRP to go below 25 cents for longer period of time, even if that does not happen I am quite sure BTC will go up a lot more then XRP, just like it keeps doing this during 2019. 

 

Just telling what I did, time will tell if i made mistake or not.

Edited by Riseup
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I see it completely different. For me it makes no sense to invest in anything other than xrp. When Utility starts I want to be part of that with my investment. If it never starts, the money is gone an

I exchanged a majority of my BTC for xrp last summer. In theory it was a good move as xrp was relative stable compared to bitcoin chopping in half. In reality I was still losing money.  Then I al

You sold your XRP at a multi-year low and then bought into BTC at a relatively high price. Buy high sell low. Interesting strategy. 

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1 hour ago, Riseup said:

On, or around april 28 2019 (3-4 months ago) I made decision to exchange majority of altcoins for BTC

The largest part of my altcoin was XRP. I exchanged 80% of XRP for BTC

Why I did this?

1: i saw pattern repeating for a few months, where BTC was gaining dominance, bitcoin go up, bitcoin stops and do a bit of side movement, then all alts partially follows, bitcoin drops a bit, altcoins go up a bit partially (not all), bitcoin then falls a lot, altcoins follows a lot more. As result btc got to over 5k$ at that time, while xrp got to nowhere.

2: Tip of ice for me was eye opener when some dude from Ripple (everyone knows who i am talking about) sold a lot of his XRP-s and when I mentioned this here I got messages like "you should not speak about that here, thats Joel Katz private thing". I found that alarming, not the fact he was selling, but def reaction of this community, like please noone speak about that. Someone might mention as example Bezos selling his share in Amazon, amazon is doing awesome, but i doubt it cant go up 100% in 2 years and Bezos invested money somewhere where he think he will get more in %. Now imagine people would be prohibited speaking about Bezos selling his stake in Amazon.

3: I dont thing selling (on top selling under price) is good thing, def will say it good on long term to bring adoption in..BS.

4: Ripple si doing good I think, but xrp is doing capital BAD, compared to BTC, and I think that ratio will just increase in favor of BTC

3 months passed, so far I am happy with my decision, perhaps with time all the sudden xrp will spike and i will be sorry, but every new month I am so far happy with my decisions. I see pattern more or less keeps repeating.

I better not think what would happen with XRP if BTC now all the sudden start falling to 6, 5, 4k. Disaster for XRP if you ask me

If i look into Sep 2019 and on, I see possibility for XRP to go below 25 cents for longer period of time, even if that does not happen I am quite sure BTC will go up a lot more then XRP, just like it keeps doing this during 2019. 

 

Just telling what I did, time will tell if i made mistake or not.

I see it completely different. For me it makes no sense to invest in anything other than xrp. When Utility starts I want to be part of that with my investment. If it never starts, the money is gone and I can handle it. Nevertheless, I respect your decision much more than those who constantly complain and still do not sell. You behaved mature and rational unlike the majority of people who are extremely annoying and getting worse and worse with time instead of investing in something else.All the best! 

 

 

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5 hours ago, Riseup said:

whenI mentioned this here I got messages like "you should not speak about that here, thats Joel Katz private thing".

I recall this getting quite a good airing in discussions.  I think some of it went beyond the bounds of good manners and got personal so people were chipped for that. There’s a big difference between a critical but constructive discussion and being rude. 

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I exchanged a majority of my BTC for xrp last summer. In theory it was a good move as xrp was relative stable compared to bitcoin chopping in half. In reality I was still losing money. 

Then I allocated some money back into bitcoin as well as some other alts earlier this spring. It looked great a few months ago, now I have to eat cat food for dinner everynight.

The point is, you can get some good deals on catfood on Amazon Prime.

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1 hour ago, 2ndtimearound said:

Maybe we can have a thread for every buy or sell decision each member makes?

Yes, but only 3-4 months after it happened, at least if the market conditions then confirm it was a good choice. We don’t want to look stupid, do we?🙄

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