I have invested $10K on ripple. Purchased all at around 0.89 now its roughly sitting at 3K.
Is there other people around that is going through the same pain.
Any suggestions or chances it will come back soon.
Cheers
My Investment in Ripple Crypto
Mentallysick on 04/01/2021 - 10:30
Last edited 04/01/2021 - 10:55 by 1 other user
Last edited 04/01/2021 - 10:55 by 1 other user
Comments
hOdL
Surely this has got to be for LOLs…
The whole point of crypto-assets is that they circumnavigate the control of regulatory bodies who might otherwise impact their valuations through government control or measures such as QE and bail-outs, because they don't trust the system of traditional investments, right? So the investors in these assets want the same regulators whom they've been trying to avoid, to step in and save them once things go South?
How is this different to someone using Uber when it first launched as a service, then trying to sue the taxi industry regulator when their driver dropped them off in the wrong location? (Note I don't mean now, when Uber is legitimised and legal to use, but when it first launched, and was operating in a legal grey area)
The lawsuit is asking the SEC to stay out of it, not to regulate it.
Keep sitting on it. Crypto goes up and down with speculation, so just wait for the next cycle. If you sell now, you'll just lock in your loss.
getting 33% back is better than nothing, where are all the greater fools going to come from to bid it back up?
they're busy right now pushing bitcoin upto 40k
Look again. It’s at 50k
@jenkemjunkie: BTC is traded against the reserve currency. The spot price should always be quoted in USD. It's 38.6k at 20:00.
@whooah1979: Doesn't that just depend on the exchange? If you buy from an Australian exchange wouldn't you just be buying in aud?
Ripple is going to die, it's not like other crypto currencies. There's so much drama around it, I would get out while people are still pumping it up to sell.
This
Or if you are not in it for long term, put a sell GTT/VTC order with a slightly higher price. If at all it gets caught in big swing, you may recover your funds.
Any sugestions
Don't invest in crypto.
If you have an appetite then sit there on it….but its crypto so think twice before venturing out….Look at ETH today, its heading to $1k USD….
Its already surpassed this!
🚀🌚
HOOOOODL
I bought $1000 XRP which like you is now $300. But it's not life changing for me and happy to just sit on it.
Depends if the $3K investment you made is life changing for you or you can just let it sit there for a few years and forget about it.
I bought $500 worth of bitcoin cash at ATH. Now worth about $20. XRP earnings JUST made up for it. I'm still salty AF about it.
Being the dude who actually bought Bitcoin Cash instead of just buying Bitcoin prefork and getting the Bitcoin Cash bit for free. Wut.
It is purely gambling.
Gambling is when you spend money and either win or lose.
Investing is when you buy something (stocks, crypto) and watch it go up/down or remain steady.
It only becomes a gamble when you sell.Look at is as you will, most tell themselves there not gambling when they place money into shares/cyrtop/ Forex etc. Buying any of these is a gamble.
Gambling is when you take risk and are unsure of the result. The result can go anyway.@Arigato: Not sure what you could find scary about anything I wrote.. anyway if you do then good luck
Gambling is when you take risk and are unsure of the result
Hmm. Like putting money into Super. Or the bank. Or buying a house
Glad you cleared that up for usgambling when they place money into shares
I know a lot of traders do this. But buying shares in fundamentally strong companies for long-term wealth creation isn't gambling. It's called investing.
greatest investors of all time@Cyberninja: The greatest investors of all time just mean that they're old. Many of them didn't even see a used book salesman coming for their 🥪 and becoming the richest person in the world and his garage shop the biggest MNC by market cap. They also didn't see a car manufacturer go from an💡 to the launch of Falcon 1.
This is what happens when when people get old and is unable to learn new things. They miss opportunities to make gains.
"I don't worry about the things I miss that are outside my circle of competence of evaluating," said Buffett, who has been adverse to tech stocks (other than Apple). "I have missed things that were within my circle, and that's a terrible mistake. Those are my biggest mistakes. You haven't seen them. But … it's not a mistake because I miss Netscape or something like that." W.B
You don't invest in crypto, you speculate on it.
That's why it's gambling.
@bulldoglikeapproach: Laing Hancock and other pioneers speculated on land acquisition, but never gambled.
Not trying to take the higher ground here, but if you buy something & others are happy to buy that product at a higher price, then it’s not gambling. It’s investment.
Disclaimer: I do not buy (invest in) crypto
It is worst than gambling.
In gambling, player knows they win when dealer is busted (21) or a red shows (roulette). Player then take their money, move on and make a decision of whether to play another game.
In SOME so call investment, investor had no idea what they are buying, why the asset increase/lost in value, nor knows when to take-win / cut-loss.
Shouldn't people do their research before buying something? Especially when it comes to stocks or an investment?
Gambling is going in completely blind, not knowing if you can win or lose.
This is the mindset that makes you poor and will keep you poor.
Do you know why it is going down? You could have decided earlier since the charges are serious.
https://www.sec.gov/news/press-release/2020-338
https://www.forbes.com/sites/rogerhuang/2020/12/23/what-the-…
https://markets.businessinsider.com/currencies/news/xrp-deli…Ideally you should HODL now, not sure what's the bottom.
"invest" and crypto should never be used the same sentence
What if the word "don't" is involved?
Or preceded by "things you shouldn't do without proper research - "
That should just be life's moto
Bit like people who "invest" in lotto tickets.
portfolio expansion🤟
how about autism and crypto?
Dont even need to be, just do what's illegal in stock trading, all fair in crypto
https://hackernoon.com/meet-spoofy-how-a-single-entity-domin…
What is your definition of investing. Serious question. As nothing seems like a 100% sure thing including. Real estate, stocks,business etc.
Instead are you referring to personal fitness, education etc.
Investing is creating a profit based on risk vs reward. Don’t invest into anything you don’t understand fully or wouldn’t use yourself, there is always risk but if it good then risk is lower.
Crypto is garbage payment system, try to pay for something using Bitcoin yourself, seriously. Its painfully complicated CF, its expensive, slow just crap. No one would care about it if it wasn’t for the speculative numbers drawing in n00bs to the strip mined by whales. If it was a new car its be powered by Steam. On the trading side you’re trading against High Frequency trading supercomputers using illegal trading tactics, you have zero chance. Also you only make money when you cash out, doesn’t matter what your crypto wallet says because its always different.
What I think is investing, you pretty much answered it “Real estate, stocks, business etc.” Its all relative to timing and the market really. Some real garbage out there (eg Opal Towers) but gems to be found. Id say to anyone do your research (like months) paper trade then see if your long term ideas play out, dont be in a rush to lose your savings.
Ideas, I follow Galloway give you an ideas for investing, ie. know your market!
“2021 Predictions (Companies & Trends to Watch)”
https://youtu.be/Y7OAVZto0CQ
Didn't invest that much and got at a lower price but still down a lot. Be interesting to see how much the government crooks get away with. On the other hand XRP was marketed as the 'bankers coin' so maybe the whole SEC thing is just a scam to shake things out so the usual suspects can pick it up cheap and then profit? They did the same thing with gold back in the 30's or thereabouts but instead of an 'investigation' they simply tried to confiscate it.
That might be valid argument for btc but not for XRP(my view) because XRP is private.
XRP isn't a privacy coin, as best I'm aware. And I just spent the last 5 minutes trying to find anyone claiming it was and came up blank. You might be thinking of XMR.
Sorry not privacy coin, I meant owned/influenced by private entity as opposed to btc
DCA next time, why put such a big amount on something random you have no way of valuing?
If you start trying to value crypto then you're opening a can of worms. It has value because it's 'rare', but it has very little real world use, but it takes a lot of resources to produce.
And, unlike gold, which is also rare, has limited real world uses and takes a lot of resources to produce, it's also completely intangible. If I am going to speculate on something I'd much rather speculate on something tangible.
how to DCA crypto?
I see coinspot offer auto deposits now
I purchased some XRP at $1.1 so you aren't the only who is feeling the pain.
You must have been swimming in it with all the income from dividends.
If it makes you feel any better when I was in my 20s I lost more than 10k in a speccy oil company.
I now reflect back on it as money well “spent”. Gave me an education I could never ingrain in my brain though 100 other books or stories.
I suggest you cash out and remember your lesson.
I too lost 10k in my 20's to a speccy share. I've been chasing that lose back ever since and down just a bit over 100k.
oh wow. I'm kinda in the opposite position. I've learnt a lot from my loss and correct many of my "mistakes"
but bitcoin is going up ???
anybody know why it's up again ??
I could be wrong, but my best guess is that Bitcoin is treated as a safe haven like gold, holding cash is expensive, alot of assets are in a bubble at the moment, although people think Crypto isn't (I don't know much about crypto so i've made educated guess).
Sit on it. The SEC move is smoke 'n mirrors.
Like all crypto, it's only gonna moon if it gets heavily adopted.
I've always stayed away from XRP. Whole set up feels a bit off with me.
Agreed, same with Tether.
Even professional drivers crash once (or many time) in a while.
https://www.youtube.com/watch?v=f792gjdH-toGetting rekt is all part of the game.
*Geez.
I find accountants are actually really bad at investing their own money.
Agreed. I mean if they were really great. They wouldnt become accountants. Which is not a bad thing as many need accountants
but the rest of your portfolio should be doing well
Yeah I got a little bit too in December 2018 when it started to take off. Should have sold it in January 2018 when it hit its high.
But selling the time machine you used to do that surely must have been profitable?
Haha love it. 2019 ;)
username checks out 😆
rip OP is in penalty box..
Is that the punishment for investing in Ripple these days?
I think it’s because of the personal attack to spaceback a few comments earlier
Wait till it gets to .05 and go all in so you can watch a dead cat bounce?
Only gamble what you can afford to lose
At least you didn't buy in bitcoin cash at ATH (RIP me). XRP imo has an actual chance of bouncing back especially now coinbase is being sued. Might not be this year though.
XRP has never been a wise investment. It is not truly decentralised, which makes it almost entirely redundant in the world of cryptocurrency. Decentralisation is a core value of the cryptocurrency “movement” so it was only ever going to get traction if the attempts to achieve a viable decentralised solution failed, but it hasn’t.
It would be like selling an electric car that is unable to be powered by renewable sources. It’s a cheap imitation of the true product.
It was at the end of 2017 when I bought it at 30 cents and sold it for around $4
No sympathy for idiots who believe in fairies. Put it all on black 22 and get over it.
Basically you have confused the term "investing " with " speculating " ………..
Not an investment
The tuition fees for Experience are sometimes the lesson.
Investment in Crypto currency is little better then gambling but not a real investment. I would better buy Qantas or Virgin FF points at discount and use it for travel in future, atleast i know that i will get my value back when flights will start and there is some value behind this FF points. Investing in Cryptocurrency is goes with some demand n supply ( no one knows who is demanding and who is supplying). this currency is not respected since many people use this currency to move thier illegal cash and store their cash in form of some bit coins.
it would be better if you spend this money on your family n friends or gifting in charities atleast you will be remembered of your generosity then seeing them going down on screen without any recourse.
Oh the perils of greed
People can save money (Ozbargain) or create wealth using money (Wall Street) or both. Using both is better.
create wealth using money (Wall Street)
How many times do I have to watch Wall Street until I'm wealthy?
Watching something won't do anything. Get some skin in the game and go from there.
Noone knows