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Buy low, sell high: A GameStop horror story


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I came across this on Twitter. It's pretty heartbreaking. I know there are similar stories of people taking huge losses on the XRP 'pump' a few days ago too. This is why if there is only one golden ru

This highlights a massive problem with this generation. No personal responsibility. Always trying to blame someone else. This guy is 100 percent responsible for what happened, it's not the big bad hed

Are you a bot?  The weird communication and talking in circles doesn't get you trough the turing test imo. 

Just now, Seoulite said:

I agree it doesn't matter to him. But he's smart enough to know that it's a bad idea for all the people who follow his twitter and decide to buy BTC. If he'd put BTC in his bio at 3k then I would be behind it. But he put it there at 33k. 

You do not need to buy whole BTC, it becomes a vehicle where through: Revolut, Robinhood, Paypal etc. With ease access you put 100$ and expect to have 200 some time next decade. Store of value. Technology enablea macro investment if you want, ease access. So 1M people around the world every month can put 100$ to BTC, this is 100M$ this will buy entire supply from Miners at price of 33-35k

Now add all institutions hedge funds etc.

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4 minutes ago, Seoulite said:

What? I don't understand what you are saying. We are talking about people putting money in before this telegram pump nonsense.

Putting money at what time at what price? What year? I presume you meant the latest pump, that topped 0.73, this price will be catched up soon, if they cant wait or do not know that sometimes you need wait than its really their ignorance. One thing as of time, XRP is set to go to 1 USD and beyond.

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6 minutes ago, Seoulite said:

I agree with other stuff you said but this here is specifically why I said BTC. BTC doesn't solve any problem and is not useful in the real world. I don't think the value reflects the fundamentals at all in this case.

Digital gold, inflation hedge, inexpensive remittance, store of value for people in unstable countries - these seem like real uses. 

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5 minutes ago, xrp_sea said:

Digital gold, inflation hedge, inexpensive remittance, store of value for people in unstable countries - these seem like real uses. 

Digital gold - that's a slogan

Inflation hedge - that applies to anything that is not fiat

Inexpensive remittance - LOL. 15 bucks a transaction? Maybe that is inexpensive compared to flying a suitcase of money around on Brad's private jet but it is ridiculously expensive compared to basically every newer crypto. 

Store of value for people in unstable countries - that applies to every fixed cap coin

 

Can't believe I'm having this argument on an xrp forum.

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3 minutes ago, Seoulite said:

Digital gold - that's a slogan

Inflation hedge - that applies to anything that is not fiat

Inexpensive remittance - LOL. 15 bucks a transaction? Maybe that is inexpensive compared to flying a suitcase of money around on Brad's private jet but it is ridiculously expensive compared to basically every newer crypto. 

Store of value for people in unstable countries - that applies to every fixed cap coin

 

Can't believe I'm having this argument on an xrp forum.

You do not have argument, you have bias you want to strengthen.

Reality is:

2009 BTC free

2021 BTC 42000

Keep fighting reality.

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5 minutes ago, xrp-nuke said:

You do not have argument, you have bias you want to strengthen.

Reality is:

2009 BTC free

2021 BTC 42000

Keep fighting reality.

We've come full circle:

BTC price is not based on good fundamentals -> No BTC has good fundamentals! -> It really doesn't -> Yeah well the price is high so there!

Is the BTC price high? Yes. I don't disagree. Is BTC good tech in 2021? No, clearly not. 

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12 minutes ago, Seoulite said:

Digital gold - that's a slogan

Inflation hedge - that applies to anything that is not fiat

Inexpensive remittance - LOL. 15 bucks a transaction? Maybe that is inexpensive compared to flying a suitcase of money around on Brad's private jet but it is ridiculously expensive compared to basically every newer crypto. 

Store of value for people in unstable countries - that applies to every fixed cap coin

 

Can't believe I'm having this argument on an xrp forum.

Oh, is this the XRP is awesome and all other coins are stupid forum?

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Just now, Seoulite said:

We've come full circle:

BTC price is not based on good fundamentals -> No BTC has good fundamentals! -> It really doesn't -> Yeah well the price is high so there!

Is the BTC price high? Yes. I don't disagree. Is BTC good tech in 2021? No, clearly not. 

Again your bias went full circle 🤣🤣🤣

Ledger that runs publicly on thousands machine and flowlessly settles transactions for decade is not good tech 🤣🤣🤣

You are really not get tech than my friend.

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3 hours ago, Seoulite said:

Interesting. Out of curiosity why don't you sympathise?

I can empathize because I have also made bad investment decisions (Your jaw would hit the floor over my bumbling with just XRP) So, I relate to the embarrassment, anguish, worry and even shame he must be experiencing. 

I do not sympathize because this was all preventable and of his own making. He didn't flesh out a sound investment strategy with rules for entry, money management (e.g. position size) or exit ... and if he did, then he didn't have the discipline to stick with them. 

Perhaps I've learned to reserve sympathy for those who experience hardships through no real fault of their own .. like as a result of disease, natural disaster, limited opportunity, etc. 

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9 minutes ago, RobertHarpool said:

I can empathize because I have also made bad investment decisions (Your jaw would hit the floor over my bumbling with just XRP) So, I relate to the embarrassment, anguish, worry and even shame he must be experiencing. 

I do not sympathize because this was all preventable and of his own making. He didn't flesh out a sound investment strategy with rules for entry, money management (e.g. position size) or exit ... and if he did, then he didn't have the discipline to stick with them. 

Perhaps I've learned to reserve sympathy for those who experience hardships through no real fault of their own .. like as a result of disease, natural disaster, limited opportunity, etc. 

The biggest problem he has is he's blaming other people. 

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2 hours ago, 2ndtimearound said:

Well back to the OP, this redditor puts his whole life savings into GME and then blames other people when he's at a loss? Who even puts their entire life savings into ANYTHING?

Well, i for one, put all his life savings into XRP for the past few years in bear market.

But that's because i dont have a big net worth to begin with, this is only my 3rd year as a working adult, if things go south, the worse that can happen to me is to just rebuild my savings, and lost time.

BUT, if the asset did a repeat of 2017, i will break free from the rat race (aka work to death/retirement cycle), pretty tasty risk/reward if you ask me.
Also i am single and my family dont depend on me feeding them, i have the luxury of minimal responsibility to be able to be this "reckless".

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My issue with this is, the nob cheese dripping about losing all his money in the OP on GME states his money was 'stolen'. What a load of tripe.

Fundamentally, selling stocks, crypto etc is transferring your bag to someone else. Someone is always holding the bag and in return YOU have taken THEIR money.

In this instance he is on the opposite side of that transaction and he does not like that.

When we all sell our crypto, we are looking for that person/entity willing to give us the value we want for our bag. They then take up the mantle of holding the bag until they in return find someone else willing to repeat the cycle, and so on.

Fundamentally it is always a transfer of someone's wealth to you, so you are potentially taking someone's hard earned money. Now this lizard isn't happy because he was foolish and gave his wealth to someone else, yet it would have been ok for someone else to give their wealth to him? Get a grip. He screwed up, no-one marched to an Internet terminal and held a gun to his head. He freely did this and I have no sympathy. Any idiot can see that buying GME at $300+ was nuts.

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