Crypto PSA

[was thatguy]

Haven’t seen anyone post it, but the XRP lawsuit was apparently settled last week.
XRP is up 60% in 4 days, but is still only at 20% of ATH.
Other crypto started tracking up in anticipation of this long awaited announcement, and the major functionality coins are moving.
BCH is up 149% in the last 2-3 weeks.
Remember when everyone here laughed at bitcoin?
Saying how funny it would be if Bitcoin dipped under $16K?
Well, it’s been at $31K for a while now.
I got chastised here once for not “tipping” anyone off on these things.
Well, XRP is predicted to go to $1.32 (about 75 cents right now) next week then stall, then shoot by its ATH of about $3.85 or so.
Before the howls begin, consider how smart it is to laugh at 150% margins in a matter of weeks.

XRP

BCH (Bitcoin cash)

Bitcoin

 

[thmterry]

My kid made $10k on XRP the other day and he called me to say "I told you so"

 

[lbhsbz]

My kid made $10k on XRP the other day and he called me to say "I told you so"

As long as he realizes it very well could have gone the other direction....good for him.

It's still gambling.

 

[thmterry]

As long as he realizes it very well could have gone the other direction....good for him.

It's still gambling.

He knows, he has been playing the game for a couple years. He made a bunch on Doge coin too. I always tell him to take his initial investment out when they have these big run ups so then he is playing with house money. Just like gambling.

 

[napanutt]

A guy I used to work with would talk about all the XRP he was buying when it was pennies. He probably has at least a 100,000. We gave him a bad time when he didn't sell when it was 1.80ish in I think 2021. He knew for sure it was going to go through the roof. We thought he was a fool but he might actually get the last laugh.

 

[mjc]

My son still does a bunch of day trading of this stuff and makes a killing most days.

 

[was thatguy]

I don’t see any difference as far as “gambling” as buying any other stock. Not with the functional coins.
Meme coins? Yeah, they’ll either hit or not.
Last year I made 300% in 4 days on one position that had gone from $119 a share to $0.00008 or so overnight.
Morons that had all their net worth in one position literally were jumping from the rooftops.
I figured that was the time to fill the bags.
It rode along for months, then spiked for 48 hours or so.
I missed the peak, at 550%, but I laddered off and put a house down payment in the bank.
That $10k that thmterry’s kid made would be on a $20K outlay at 50%.
Not bad, very good in fact! And it’s not done.
I’m not an XRP fanboi, but I know a few guys that are.
This ruling is a big deal. It’s been in the works for years.
XRP ATH is nearly $4 a share. It’s not going away.
Like it or not digital currency is the future. Those cash and change games some play at Walmart registers are going to be eliminated. Maybe sooner, maybe later, but it is going to happen.
The only “gamble” is determining what digital currencies, and the functioning apps to use them, will be implemented by the treasury.
(Beta or VHS…lol)
Short term it’s not that hard to ladder off profit after purchase.
I pay 3% on purchases. Zero on sale and withdraw.
So once it’s over 3% it’s in the black.
Small or large, positive is positive.

But like any investing, putting all your eggs in one basket is suicide. I have about 20% of my net in crypto, and that’s split up into like 10 different positions.
Some are long term line BCH, Etherium, BTC etc, some are meme moonshots waiting for that stupid day where it skyrockets! Lol
I have a 401, a savings account, some equity already in my new house, a bunch of unused credit lines, and some other stuff.
Crypto should only be a part of one’s portfolio. Imo.
It isn’t a get rich quick scheme although they do exist and happen, fraud is rampant…but that’s usually on the architecture side, or from using a brokerage. That’s the users fault for not being diligent and serious about their own security.

Wences said it best in my opinion.
Basically, take what you would normally spend on a 4 day havasu weekend and buy Bitcoin for instance.
Then forget about it.
In 7 years check it. I either gave you bad advice and cost you a 4 day weekend, or you’ve named you grandkid after me for changing your life.

 

[was thatguy]

A guy I used to work with would talk about all the XRP he was buying when it was pennies. He probably has at least a 100,000. We gave him a bad time when he didn't sell when it was 1.80ish in I think 2021. He knew for sure it was going to go through the roof. We thought he was a fool but he might actually get the last laugh.

The guy that started me in crypto was 34 years old when I met him out in West Virginia a couple years ago.
At 32 he pulled his $110K 401 and put it all in crypto, primarily XRP and BTC. He has a lot of BCH as well and sold me on it too.
XRP required certain apps to buy it because of the lawsuit, it had to be bought through offshore apps (primarily the UK as far as I could tell), so I never bought any because of that.
He turned that $110K into over $5 million over 2 years.
Right now I’m sure he’s down at least 2-3 million in the last 2 years, but that’s still a couple million up.
It will come back and is coming back already.
I asked him if it was scary dumping $110K into crypto…he said “No…my wife is rich!”

 

[MR HARLEY]

Wtf did I just read.

 

[was thatguy]

Oh, btw, XRP is now 64%…another 6% since this morning
That spike line is from a few days ago when the lawsuit was won by ripple basically.

 

[OldSchoolBoats]

Haven’t seen anyone post it, but the XRP lawsuit was apparently settled last week.
XRP is up 60% in 4 days, but is still only at 20% of ATH.
Other crypto started tracking up in anticipation of this long awaited announcement, and the major functionality coins are moving.
BCH is up 149% in the last 2-3 weeks.
Remember when everyone here laughed at bitcoin?
Saying how funny it would be if Bitcoin dipped under $16K?
Well, it’s been at $31K for a while now.
I got chastised here once for not “tipping” anyone off on these things.
Well, XRP is predicted to go to $1.32 (about 75 cents right now) next week then stall, then shoot by its ATH of about $3.85 or so.
Before the howls begin, consider how smart it is to laugh at 150% margins in a matter of weeks.

XRP
View attachment 1253003

BCH (Bitcoin cash)
View attachment 1253004

Bitcoin
View attachment 1253005

Nice bull flag forming with BTC

 

[was thatguy]

Wtf did I just read.

I’ve read your posts.
You buy million dollar boats and stuff.
Here’s a recent Forbes article, featuring Larry Fink’s statements last week.
It’s better than I can say it.

‘Transcend’ The U.S. Dollar—BlackRock CEO Issues ‘Important’ Crypto Prediction After Huge Week For The Bitcoin, Ethereum And XRP Price

BlackRock's legendary chief executive Larry Fink has said he expects crypto to "transcend" traditional currencies, including the U.S. dollar...

www.forbes.com

 

[traquer]

@was thatguy is a smart guy. Thanks for sharing on here. I'm not a trader, I'm a long term investor, but I'm thinking to play around a bit with Ripple. BTC (and maybe XRP) is a big deal because everyone around the world agrees that it's good. That's not very common in this day and age. Americans, South Americans, Asians, Arabs, crypto nerd teens, normal guys, billionaires, bankers etc. You'd be unwise to not invest at least a few percentage of your net worth in some.

 

[was thatguy]

@was thatguy is a smart guy. Thanks for sharing on here. I'm not a trader, I'm a long term investor, but I'm thinking to play around a bit with Ripple. BTC (and maybe XRP) is a big deal because everyone around the world agrees that it's good. That's not very common in this day and age. Americans, South Americans, Asians, Arabs, crypto nerd teens, normal guys, billionaires, bankers etc. You'd be unwise to not invest at least a few percentage of your net worth in some.

Thanks.
I don’t always get the nomenclature right, because I’m not a baller, lol.
To me it’s a mistake to ignore the functionality and the future of digital currency.
Not the memes like Shiba and Doge etc, but the real ones that are being used in commerce today.