I love hearing about all the crypto investors whining about having to pay taxes. Most have never invested in anything that involves capital gains and now they’ve already spent their “winnings” and can’t pay their taxes. I believe there’s only one appropriate reaction:
Is ripple still da troof?
BTFD! lol we will see. As I said before, it’s lambos or bus passes brah
Haha that’s what I have currently. Nothing crazy but 2016 M235i Coupe. I’m almost 27. Gettin up there.
oh man… dnt know what to do… buy buy or just hodl?
you should listen to ohai and stl. diversify your asset classes. minimize your taxes (big fan of taking a yr off and cash in at lower rate), and get rid of the go for broke mentality. the binary approach is a terrible idea, a good investment is a slow come up that always lowers stds.
but anyways, respect… im too much of a pussy to ivnest in that quite honestly. but wow. investing in something like this must have been a crazy ride. the euphoric feeling, the pain and sufferring. i woulda enjoyed it.
If I had a ton of cash on the sidelines, I would be buying hand over fist. Still think as long as the domestic ECMs continue higher, crypto will too. ECMs are just cooling off some, prolly not done yet though. Maybe just hang out for a couple weeks until we see these dead cat bounces go away in crypto. Right now, the trend is not our friend.
Looking like bus passes it is…
LOL nah. I am pretty confident this is just a correction. Same thing with the stock market. We will probably see bitcoin in the high 5 low 6k range (worst case scenario) which will correspond to an XRP bottom of high mid 50 to low 60 cents, then it’ll be right back to 2-3 dollars. It’ll see those levels again by May.
Despite all the regulatory FUD, crypto is going to be fine, provided there isn’t some macro economic meltdown. Only time will tell.
^im curious when do you know when its time to sell?
damn dude you love ripple
When the story has changed for Ripple. Bitcoin has only done this like 15 times only to continue higher in each occurrence. I truly think that as long as the bull market in stocks continues, so will crypto. Regulation is good for crypto in the medium and long term. The criminals and short term speculators are being flushed out.
It isn’t a get rich quick proposition and the ones who are treating it that way are being burned very badly. The only people I feel sorry for in all of this are those who have done a ton of research and DD, firmly believe in blockchain and it’s future, and just unfortunately bought at December/January highs now left with a pretty significant emotional test.
I will now shave my balls with a straight razor if ripple sniffs 5
This combination of regulatory measures, bank actions and investor punishing volatility is resulting in permanent demand destruction. These are basic functions of supply and demand that any professional investor understands and will become a self-fulfilling prophecy. The further it drops, the more quickly regulatory bodies will move to protect their people. This whole laughable sham was only going to last at most until the first terrorist’s laptop was opened and found to have a crytpo account. Anybody involved in this should be moving to the exits before the real paper wealth is forced to confront the choice between liquidation and leasing a Kia until they retire, the marginal dollar is being eroded. The difference between this and equities is that when CF Industries goes to $30 I see my dividend yield rise to 4.5%, then 5% at $25 and ~6% at $20. Every quarter that cash is deposited in my account as long as the fundamentals remain. The evangelists really need to figure out who the sucker at the poker table is because if you can’t specifically enumerate who you’ll offload this to, it’s you. At least a portion of this market is populated by credit card backed purchases undertaken by rubes too inexperienced to comprehend capital gains taxes or their reasons for investing and weak hands that got involved through facebook ads. Just pause for a minute and let the implausibility of the fact that Nerdy is calling this a bad investment marinate in your mind.
One interesting thing is that these crypto currencies seem to have a very positive correlation with risk appetite, as we have seen what are probably very high beta moves during the equity sell off. So, when people say Bitcoin will be a gold replacement, it is difficult to defend that claim.
Anecdotally it seems bubbles do mirror risk appetite through time. Like during the tech boom, Beanie babies were also in a bubble. Seems euphoria oozes to other places when it occurs .
What I think is truly paradoxical though however, is that the majority of retail investors in crypto are really the bottom of the barrel in terms of possessing finance acumen when the concept of decentralized distributed ledger technology is nothing short of genius. And while I do agree, at this point in time, the majority of cryptos basically have a fundamental value of zero, there are several that are going to shake up their respective industries.
I also feel that the economic expansion has allowed tons of capital to go into the R & D of blockchain that would have not been otherwise possible, and it is a shame that will more than likely be put on hold or greatly curbed by greater macro forces (ie inflation, interest rates, etc) beyond this nascent market’s control.
In regard to credit card backed purchases, I think those are a blip to be honest in terms of sources for capital infusion. Most of those idiots have been flushed out over the past 6 weeks anyway. Regulation is a big issue near term that is scaring the shit out of everyone, but will be good in the long run. I am just so sick of seeing stuff like “TrumpCoin” for example that people are exchanging real US dollars for. That needs to stop for real.
To me, it makes sense though. crypto is not a store of value or an alternative to fiat currency in my opinion. They are like micro cap tech stocks. The reason I think these trade like insanely highly volatile instruments is because they have only been around for what 4-5 years most of them?
I don’t think it is out of the real of possibility that bitcoin could serve as a gold 2.0, but not when it is has only been around for 10 years vs gold’s thousands and thousands of years of existence. As everything grows, the volatility will become muted. Just going to take time.
You’re completely conflating these currencies with the technology. Make no mistake, at no point will your ripple position create some form of bridge to IPO access. There’s nothing in an IPO for the enterprise, it’s a capital light business and I simply don’t see the consortium loosening control with cash flush acquisitive backers like Google. With differentiated technologies capital needs are nearly always met through JV’s with entities bringing additional expertise or product leverage to the table. There’s also no reason to think that if Ripple wins the final technological application will involve the current beta coin in any way. The most comical part about this bubble collapsing is the sheer amount of delusion and poor logical linkage in an investor base of suckers that fundamentally do not understand the application of the technology, the broader tech industry or investing.
You’re essentially buying albums on iTunes in delusional anticipation of an iPhone IPO.
Wait a sec though. Regardless of bridge to IPO access by holding XRP, doesn’t Ripple have a huge incentive to increase the value of it? They own around 55 percent of the total supply and that amount is held in escrow released through smart contracts on a preset schedule…Also the backers that you have mentioned who are flush with cash like google have a vested equity interest in Ripple labs that amounted to a rounding error when compared to the total worth of XRP in circulation 30 days ago…basically, I do not think Ripple needs an IPO and will probably find a way to let VC’s exit by other means.
I understand that owning XRP isn’t a claim on Ripple’s cash flows, but merely a speculative bet that private companies and financial institutions will one day adopt it in a big way because they are offered really compelling cost savings to do so. IF this occurs the liquidity demands from said institutions will drive up the price. Am I missing something here?