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Just a short message to fellow hodlers. I have been accumulating some XRP since 2017, still scraping in the lower 1% of things ;-). I saw the extreme rise, and during the crypto winter the extreme drop. The Ripple idea seems good, but the truth is I'm having severe doubt of what Ripple is telling us. From clients to ODL, From SEC to Garlinhouse/Larson, from Escrow to Jed, from Hodor to all of us here. I no longer (or maybe have never known) know what is true and cannot believe the info we are getting. This recent situation made me think a lot and have a good look at my options.

Today I would like to share with you that I have jumped the fences and have sold half of my XRP dream and moved the cash to ADA. When things get better I'll be more then happy to get back on board and buy some more XRP again but for now damage control my way to handle this situation.

Hang in there and do what yo think is best!

 

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There are simply other assets that will significantly outperform XRP for the time being, no real point being invested if you live in a country with no capital gains tax and can freely move in and out :)

My 10k XRP contribution still stands with @tulo as a fund to decentralized the network further by removing or reducing founder and Ripple XRP allocation. The fact that there is no community that is willing to invest (time, money or technical resources) in creating a developing this segregation between XRP and Ripple really solidifies that there is little community that cares for anything other then price appreciation. If a similar issue occurred in say Etherum a dev solution would like be developed and suggested within a weeks time of the announcement.

 

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Quote

The way to become rich is to put all your eggs in one basket and then watch that basket.

-Andrew Carnegie

This is similar to the "know what you hold" hashtag floating around in the ether.

Not so much that Carnegie meant to make stupid bets risking it all on a long shot, but rather to really do all the research, know the tech, know the markets, where it's likely to go then make your decision with full commitment. Strong hands lift heavy hammers.

Personally, as far as cryptos go I have 0% diversification, 100% XRP. Sure, I could have 3-4x'd my money since August if I had moved it all into BTC. But I'm here for moon. If I wanted 2-3x I could just gamble at a casino. Diversification comes later, at least where I'm at in life.

I read up on all the stuff Cardano has been doing with ADA too, I respect Hoskinson and how they've been doing things over there. ADA was in my shortlist of cryptos, along with BTC, XRP and a couple others, before I took the XRP plunge.

But I'm still ride or die on XRP after all I've learned.

Edited by jetbrzzz
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2 hours ago, elppir said:

Just a short message to fellow hodlers. I have been accumulating some XRP since 2017, still scraping in the lower 1% of things ;-). I saw the extreme rise, and during the crypto winter the extreme drop. The Ripple idea seems good, but the truth is I'm having severe doubt of what Ripple is telling us. From clients to ODL, From SEC to Garlinhouse/Larson, from Escrow to Jed, from Hodor to all of us here. I no longer (or maybe have never known) know what is true and cannot believe the info we are getting. This recent situation made me think a lot and have a good look at my options.

Today I would like to share with you that I have jumped the fences and have sold half of my XRP dream and moved the cash to ADA. When things get better I'll be more then happy to get back on board and buy some more XRP again but for now damage control my way to handle this situation.

Hang in there and do what yo think is best!

 

Remember to stake the ADA bought so you can earn some nice interest - cool thing is you can stake right from your Cardano wallet (and even a nano ledger hardware wallet if I remember correctly), plus your coins aren't even locked up once staked.

Edited by Teslaza
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12 minutes ago, Teslaza said:

Remember to stake the ADA bought so you can earn some nice interest - cool thing is you can stake right from your Cardano wallet (and even a nano ledger hardware wallet if I remember correctly), plus your coins aren't even locked up once staked.

Got a link that explains this?

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40 minutes ago, Teslaza said:

Remember to stake the ADA bought so you can earn some nice interest - cool thing is you can stake right from your Cardano wallet (and even a nano ledger hardware wallet if I remember correctly), plus your coins aren't even locked up once staked.

I'll look into that, thanx!

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1 hour ago, Troote said:

The whole staking thing, what it is and how to do it. I have some ADA but just holding, not doing anything with it.

Staking via the Cardano software wallet is probably going to be easiest for you.

You can just google or search youtube for 'staking ada with daedalus',
but a quick summary from the top of my head:

-Download and install daedalus wallet from https://daedaluswallet.io/en/download/.
-Wait for blockchain to sync (takes a while the first time).
-Create new wallet (remember to store password/seeds offline etc)
-Transfer ada to your new wallet (pick one of the receive addresses under the 'receive' tab on the wallet screen)
-Click on delegation center (2nd icon top left), and then click on 'delegate' on your wallet which should be listed below.
-Follow the on screen steps and select your pool - there are various to choose from, so you will need to search around for ones you would like to stake to. You can check adafolio.com or adapools.org for the full list of pools and their saturation levels, otherwise if you don't want to go through all that hassle, you can just stake to BLOOM SIX for now - just paste this id : pool13crd2ljx87988umk22er6ynwadfwdqupdpcq6prc6v59z62kxse into the daedalus wallet search bar on the screen where you choose the pool and it should bring it up that pool and then you can select it - note I have no affiliation to this pool, just believe the pool is a solid choice and it is also not saturated at the moment. Note also there is a very small once of fee when staking to a new pool of like 0.2 ADA or something.)
-After you've staked your wallet, it will take 2-3 epochs (10-15 days) and then you will start earning rewards which will be automatically deposited into you wallet every 5 days (one epoch). 

Feel free to DM me if you get stuck, but you can also get tutorials, links, read up on the latest happening etc at the Cardano reddit pagehttps://www.reddit.com/r/cardano

Hope this helps

PS: Those looking to stake with their ledger hardware wallets should look into Adalite / Yoroi.

 

Edited by Teslaza
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1 hour ago, Teslaza said:

Denken Sie daran, den gekauften ADA zu setzen, damit Sie ein gutes Interesse verdienen können - cool ist, dass Sie direkt aus Ihrer Cardano-Brieftasche (und sogar einer Nano-Ledger-Hardware-Brieftasche, wenn ich mich richtig erinnere) stecken können und Ihre Münzen nicht einmal nach dem Einsatz eingesperrt sind .

This is true! (Daedalus Mainnet)

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15 hours ago, elppir said:

Just a short message to fellow hodlers. I have been accumulating some XRP since 2017, still scraping in the lower 1% of things ;-). I saw the extreme rise, and during the crypto winter the extreme drop. The Ripple idea seems good, but the truth is I'm having severe doubt of what Ripple is telling us. From clients to ODL, From SEC to Garlinhouse/Larson, from Escrow to Jed, from Hodor to all of us here. I no longer (or maybe have never known) know what is true and cannot believe the info we are getting. This recent situation made me think a lot and have a good look at my options.

Today I would like to share with you that I have jumped the fences and have sold half of my XRP dream and moved the cash to ADA. When things get better I'll be more then happy to get back on board and buy some more XRP again but for now damage control my way to handle this situation.

Hang in there and do what yo think is best!

 

I think that was a sensible move, spread your risk when the circumstances around you change.  I did the same (ADA + XRP almost 50 50 - I have a few XTZ and EOS) It was difficult and I hesitated much too long, having done it I do not regret it.

Before SECs action XRP was a certainty, and it seemed to be managed and run by good and honest people.  Both these impressions have been damaged by recent events. 

I think XRP will do well, like ADA will do well.  We have to make decisions and for me this was the right decision in current circumstances

Edited by Julian_Williams
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