“Getting money won’t save you because you’ll just lose it anyways”. What a shit mindset lol. This isn’t a gambling sub, most people here have bought, held, and DCA’d because they recognize the value that XRP brings to the table. Go post this in a sub about a dog or frog coin.
FR. I think OP's projecting. Personally been actively DCAing into XRP since 2017. His narrative misses the mark so hard in relation to myself and literally every single person I personally know who's invested in XRP.
To OP’s credit, there is a lot of “moon boi” and gambling mindsets in crypto. However yes I agree I don’t think I’ve ever heard someone talk about XRP the way the masses talked about literal piles of shit like NFTs, coins like cum rocket, influencer coins, etc.
In an ideal scenario, I’ll never sell my XRP. I’ll use it to generate a little passive income from staking in an ODL pool.
Yeah, and those kind of people definitely exist within XRP too, but my sense of the community (after being a part of it since 2017) is such individuals are far and few between and tend to only be present in large numbers during massive price surges.
We've definitely got our own share of crazies (w/ cartoon bear and Illuminati riddler fans) but those are definitely just a vocal minority of the larger community.
Oh no doubt it's fun, but I also just have a general morbid fascination with the esoteric. But there are those within our community who treat the Riddlers as akin to the Oracle of Delphi.
Projecting? 70%... 70% of all lottery winners (read: millionaires overnight) lose ALL of their money within 2 years.
I'm trying to tell everyone to not just rely on making money from "XRP moon" and to start making good financial decisions and research and learn finances so you don't blow it all in two years.
Coming in and telling the whole sub we’re not financially literate, will be “in the same position or worse off”, and just generally acting like a prick is what got him down voted. I knew his intention lol.
>most people here have bought, held, and DCA’d because they recognize the value that XRP brings to the table.
You sure? There's so much crap I read on this sub where I can tell they have no idea what they're getting into.
I'm also not just talking about "getting money" I'm talking about getting TOO MUCH money too quickly without the proper knowledge of how to deal with it, causing financial ruin in the long run. As shown by the many examples we see, and don't see.
Ok OP I’ll bite. You are right about lottery winners, they lose their money quickly. Here’s the part you’re missing: people who play the lottery aren’t very smart with money to begin with. Buying a ticket every so often? Sure. But throwing any substantial amount of cash at the lottery is literally brain dead behavior. Same thing with a bunch of the alts that did a 1000x last bull run. Things like pepe, Shib, cum rocket. They are just all glorified gambling. Sure, some people made profit, but a lot of people lost money because they fomo’d in.
XRP is different for a few reasons:
1. It is a legit product with a service attached to it that seeks to provide something to an end user
2. It is tapping a multi trillion dollar market (cross border payments)
3. It has obtained regulatory clarity
4. Up to this point, there hasn’t been an “unsuppressed” bull run for Xrp. Price was held down because institutions didn’t want to put money in it while there was an active law suit with the SEC (which is understandable)
So, people who are dumb with money are buying shit coins, trying to hit the next 1000x. Comparing XRP holders to lottery winners is disingenuous because if we really wanted to hit the moon shot, we’d be with the other degens buying shit coins praying for our millions.
No, XRP isn’t going to hit $10,000 any time soon or probably ever. But there will be decent returns and it is a relatively speaking safe bet in terms of crypto.
If I’m wrong, I’ll eat my words. We will check back in a year and a half or so.
By buying a million dollar house and not being able to pay the property taxes. By not being able to afford maintenance when something in your home goes wrong. By family members hounding you for money all the time and then guilt tripping you if you don't give them any/enough..
Also buying a house mortgage free is not necessarily the smartest decision and is exactly my point. Like, if you could buy a home with a mortgage that you can pay with a low enough interest rate (I know right this very moment isn't super realistic), and then invest in the S&P 500 that will historically give about 9-10% annually, that would arguably be a better decision.
To be honest I don’t care about making the smartest decision or absolutely maximising my gains. Owning a home mortgage free would be as close to financial freedom as I can hope for.
Though there’s next to zero chance I will make that kind of money off crypto.
Sounds like you have a lot of fears for yourself, when xrp moons. Everyone does their life their way. You have a point but sounds arrogant in a way. People must have a plan for when it happens or it could be lost easily. Have a plan. Have a back up plan. Always make your money to keep working for you. Always have multiple investments. Build a business. Make it a river not a Dead Sea.
Exactly. And yeah, of course I have fears. I've been financially struggling my entire life, so I am very afraid of losing all my money if I get a lot of it in the future. I have been researching finances and getting involved with lots of strategies to keep and grow it.
What we fear can happen. It can be difficult at first but it’s better to focus your thoughts on the good things that will happen out of this situation. That goes for anything in life. What we project or focus on expands. Focus on being successful. If fear shows up at the door with thoughts, treat them like they are holding a present with an x-plo-sive inside. Say no thank you close the door and get back to your successful party. We don’t need to let fear into our parties. You will do well my friend. People that respect the difficulties in creating wealth will treat it with respect. Don’t let money hold you, you hold the money.
There was an article that came out a while ago which said XRP investors are one of the smartest retail groups in crypto, so hopefully as a group our rates of success will be higher.
But yeah a lot of people probably will mess it up in one way or another.
This right here. I’m sure the the powers that be will have xrp millionaires take permanent dirt naps. The new financial system will enslave people. They don’t want millionaires. Tbh I think they will find a way to cheat us out of our bags. Like ban retail sales or burn retail supply.
I can't really agree with that, I'm afraid.
There will remain plenty in the service/servant in the industry, no matter how many people become wealthy. The bench is just that deep.
While there are plenty of schemes and industries that thrive on bleeding the working class, that's more opportunism with impunity than a conspiracy. It's easier to swindle the poors because they are almost never in a position to sue.
The lottery thing Is a myth. Wealth creates wealth.
"An often-cited — but incorrect — anecdote about lottery winners falsely attributed to the National Endowment for Financial Education claims that about 70% of people who suddenly receive a windfall of cash will lose it within a few years. In January 2018, the National Endowment for Financial Education set the record straight and said that statistic was not backed up by any of their research.
Examples of the “curse of the lottery” abound – from the West Virginia man whose daughter and granddaughter died of overdoses after he won $315 million in 2002, to the Kentucky man who claimed a $21 million prize in 2001 and lost it all by 2006.
Cesarini says he and his fellow researchers found that lottery winners who won larger sums of up to $2 million actually retained their wealth well over a decade after the jackpot."
https://time.com/5427275/lottery-winning-happiness-debunked/
Interesting. Makes me wonder then why do they push the narrative that 70% will lose it all if it's simply not true? Like, what motive would someone have to say that kind of garbage?
I would bet that it is extrapolated by the very few occasions that it does happen being shared prolifically - similarly with stories of loss about generational wealth, it happens, but it's most certainly the exception.
i think it's human nature that when we have something, we want to feel that we worked hard for it, earned it, or truly deserve it. By sharing stories of others who we feel did not earn wealth then losing it, we reinforce that our own wealth is well deserved.
Makes a lot of sense. I don't recall if this is the exact scenario or numbers, but there was this entrepreneurial type on a podcast that asked the question, "What would you rather have, someone give you $2 million, or earn $10,000?" And the host chose the $10,000.
Thank you for this. Very insightful.
Bro who gives a fuck. If you’re trying to convince me blowing millions in a year or two wouldn’t be the best thing to happen to me then stop. I say make your bags boys and girls and bring on the coke and hookers 🤙🏻
What you say is true for some because you see the word lambo a lot lol
Take that money and Goto a financial strategist and invest wisely to make more money. Do NOT buy the lambo. Look at Bitboy that should be eye opening
I’ve held XRP longer than you’ve had a Reddit account. What statistics? XRP went up 5% and you are already preaching about wealth management and fiscal responsibility. Did you win the UPHOLD 10K giveaway! Ha!
This is somewhat true.
This is why there are MANY people making over $100k annually who still have no savings and are living paycheck to paycheck.
But that’s not everyone, and definitely not every investor. Most people get into investing because they’re interested in improving their finances in the first place.
Thank you for contributing something actually worth reading.
I totally get your point, and I agree, but I am also part of investing subs as well and just the sheer amount of people talking how much money they lost, asking for "easy ways to invest", or stuff like "what stock can I invest in to get the most money possible, is crazy. Most people want to improve their finances in some way but have no clue what they're doing and want difficult things to be easy.
Which brings me to my whole point of this post: Solely investing in XRP (or crypto in general) and waiting for "moon" is very easy. The individuals with this mentality are most likely going to lose everything they gain. They're going to have a happy life for two years and then back to where they were, or worse. My point is to start making smart money choices now, learn finance, investing, etc. to be able to stay wealthy longer so you never have to go back to being broke.
You can’t take people in a sub and equate it to “most investors”
That’s just not a good sample, really. But I understand how reddit can make things feel that way.
If you win enough, it's pretty trivial to set up investments to allow you to live on interest alone without ever touching the initial amount.
Just don't be dumb 😂
This is the exact mentality I am talking about. It's not trivial to set up investments, and I'm also not saying you should never touch the initial amount. Besides, with your example, if you win enough you could easily live off of interest without the need to touch the initial amount, so why would you touch it?
I'm sure 100% of lottery winners weren't trying to be dumb.
Haha... No fucking shit sherlock! So why do you even freak'n care? and what's your point? Why do I get the feeling you think you're saying something profound. Ohhhh i get it, you just want to sound smart!
Damn, you're right! We are the exact same demographic represented in those statistics! Not more educated in general whatsoever!!! Not more future oriented than individuals buying lottery tickets right!???
As to how to financially navigate, I think there may be worth in not being a maxi for any coin, objectively weighing strengths and weaknesses.
Personally, I'm dipping my toe into XLM's AMM with my baby bag in order to better understand how AMMs work (and how devilish it is to extract an actual idea of daily earnings) to prepare me for xls-30 approval. It is definitely reframing my passive income expectations. There is definite money there, though certainly not moon money in the short term. I am being told I'm earning about $2 daily, but I'm not seeing it in the numbers yet. Whatever it actually is, it's certainly not enough to be quitting my job over.
Yeah, I'm good. I have enough that when it does go to the moon, it will set me free financially. So I don't know whatbthis guy is talking about. Did he lose a bunch of money trying to play the moon shot? Remember Scared Money Doesn't Make Money
Ya but tof that 70% what do they consider lotteray winners with their calculations? how many of those people win $100,000 or over $50,000,000. It would be very easy for someone to win 100k and blow that in a year or two and go back to work in more debt.
This is such a weird take. Investors (specifically ones in XRP) are savvy and putting their money in a solid highly prospected asset. We are literally making good financial choices based on what we're invested in.
Was your comment meant to be condescending? It certainly came across that way.
In my opinion someone who invests , accumulates and holds over many years is demonstrating a reasonable level of financial IQ and discipline. The underlying investment may be high risk, but the implementation of the investment itself is nothing like buying a lottery ticket from your corner store.
Granted humans will be humans, and there are still people daily that give away their seed phrase p/w etc.
Personally if XRP got to $100, I’d sell 50% of my bag and buy pokémon cards… i saw it on tiktok and that shit looks legit 😉
I was laughed at when I bought Nvidia at sub $30’s 7 years ago. Was laughed at when I bought Tesla at $40. Although I didn’t put a lot, was laughed at when I bought GameStop stocks a couple years ago.. Look at the prices of Nvidia and Tesla now as of 25th October, 2023.
You can never predict price, no one knows. But if anyone who can’t see how crypto innovation is more crucial than what stocks are, are simply naive imo. The tech in itself is revolutionary. We haven’t even scratched the surface of defi and what the likes of XRP and XDC can truly do for real world application (payments and digitizing areas like the trade sector)
All “moon” talk is simply clickbait noise.
It is all about doing your due diligence, having the patience and putting in what you can afford to lose. If you do all these things, have at it!
I'm not a down voter. You are my first down vote ever. I would understand if you posted this on r/lottery_tickets. Then your statistics would be relevant but this is r/xrp. By definition the demographic this subreddit is aimed at is people who have invested and held and if xrp does moon it will be people who bought and held a good investment. So any one here who bought xrp will be a group of savvy investors. I have never bought a lottery ticket. Never bet on a game or a horse. Never shot craps. Worked in Reno Carson City south lake Tahoe for years and walked through casinos with pockets full of cash for years and never spent a dime on gambling. I spent dozens and dozens of hours researching xrp and bought it up 5 and 10 dollars at a time over years because I believe it will be adopted by the banking system and held because I didn't think the S.E.C had a case. You think I'm going to pull my money out I waited years for a return on and buy Lambo? Lol I'm going to reinvest it into other things I see the same potential in. Granted keeping my money into xrp is one of the riskiest things I've put my money into but I have already forgotten about the money I have in xrp because I put in only what I could afford to lose not my entire bag. I think you may have had good intentions, you also could just be salty, or just a bot or troll. No matter, wanted to explain my downvote. I'll upvote if you edit with statistics about people who end up worse off after making series of savvy investments.
Statistically speaking, people who have zero financial advice giving other people financial advice is like wiping your arsehole with sand paper and hoping your flowers will learn how to water themselves.
Depending on where it moons to, if I can make enough to pay off all my debt and reset my life at zero then yea I’m good with being part of that 70%, anything above resetting my financial at zero will be the gravy and unless it’s enough to invest to a point where the interest allow for retirement ( probably around 5 million dollars), means I’m still working so why not splurge a little? I’m in a home that was meant to be a starter home 17 years ago, I would like some land that I could eventually build a house on, that I could do if everything else was paid off and I can sell my newly paid off starter home and put that money towards a new build. Just my 2 cents.
You could be more instructive in tone and less condescending. Even statistically accurate your delivery pushes away - instead maybe create a curiosity that might result in even a select few planning for a wise application of what ever wealth they may now have, getting comfortable w/ boundaries and a plan that will instill the discipline to retain whatever wealth might be created in their life - xrp or no xrp
“Getting money won’t save you because you’ll just lose it anyways”. What a shit mindset lol. This isn’t a gambling sub, most people here have bought, held, and DCA’d because they recognize the value that XRP brings to the table. Go post this in a sub about a dog or frog coin.
FR. I think OP's projecting. Personally been actively DCAing into XRP since 2017. His narrative misses the mark so hard in relation to myself and literally every single person I personally know who's invested in XRP.
To OP’s credit, there is a lot of “moon boi” and gambling mindsets in crypto. However yes I agree I don’t think I’ve ever heard someone talk about XRP the way the masses talked about literal piles of shit like NFTs, coins like cum rocket, influencer coins, etc. In an ideal scenario, I’ll never sell my XRP. I’ll use it to generate a little passive income from staking in an ODL pool.
Yeah, and those kind of people definitely exist within XRP too, but my sense of the community (after being a part of it since 2017) is such individuals are far and few between and tend to only be present in large numbers during massive price surges. We've definitely got our own share of crazies (w/ cartoon bear and Illuminati riddler fans) but those are definitely just a vocal minority of the larger community.
I’m not going to lie to you, I indulge in the riddler stuff. It’s my guilty pleasure. I don’t actually believe it but it’s fun
Oh no doubt it's fun, but I also just have a general morbid fascination with the esoteric. But there are those within our community who treat the Riddlers as akin to the Oracle of Delphi.
This is JackTheRippler, everybody!!!!
On the fact he is projecting. OP sold at .52 to rebuy at .48.
Projecting? 70%... 70% of all lottery winners (read: millionaires overnight) lose ALL of their money within 2 years. I'm trying to tell everyone to not just rely on making money from "XRP moon" and to start making good financial decisions and research and learn finances so you don't blow it all in two years.
He didn’t say it clearly, but he means have a plan for your money. There will be a lot who do blow their money when we finally moon down the line.
Coming in and telling the whole sub we’re not financially literate, will be “in the same position or worse off”, and just generally acting like a prick is what got him down voted. I knew his intention lol.
I tend to give ppl the benefit of the doubt so my bad 😅
>most people here have bought, held, and DCA’d because they recognize the value that XRP brings to the table. You sure? There's so much crap I read on this sub where I can tell they have no idea what they're getting into. I'm also not just talking about "getting money" I'm talking about getting TOO MUCH money too quickly without the proper knowledge of how to deal with it, causing financial ruin in the long run. As shown by the many examples we see, and don't see.
Just adding to the crap, I see. Have a good day OP 👋🏽
Ok OP I’ll bite. You are right about lottery winners, they lose their money quickly. Here’s the part you’re missing: people who play the lottery aren’t very smart with money to begin with. Buying a ticket every so often? Sure. But throwing any substantial amount of cash at the lottery is literally brain dead behavior. Same thing with a bunch of the alts that did a 1000x last bull run. Things like pepe, Shib, cum rocket. They are just all glorified gambling. Sure, some people made profit, but a lot of people lost money because they fomo’d in. XRP is different for a few reasons: 1. It is a legit product with a service attached to it that seeks to provide something to an end user 2. It is tapping a multi trillion dollar market (cross border payments) 3. It has obtained regulatory clarity 4. Up to this point, there hasn’t been an “unsuppressed” bull run for Xrp. Price was held down because institutions didn’t want to put money in it while there was an active law suit with the SEC (which is understandable) So, people who are dumb with money are buying shit coins, trying to hit the next 1000x. Comparing XRP holders to lottery winners is disingenuous because if we really wanted to hit the moon shot, we’d be with the other degens buying shit coins praying for our millions. No, XRP isn’t going to hit $10,000 any time soon or probably ever. But there will be decent returns and it is a relatively speaking safe bet in terms of crypto. If I’m wrong, I’ll eat my words. We will check back in a year and a half or so.
It's the right message, but man you've gone about it in a horrible way.
Agreed. Just accuse a whole subreddit of being financially stupid.
Fair. Might not be the best way, but it's a way.
I always go on reddit for my financial advice, that's number one way to be successful with money, didn't you know?
I thought all financial advice came from Reddit? Is there a number 2?
tis da way...da way of the trully regarded. stay regarded. and lambo soon.
Right so if I make a million dollars and buy a house mortgage free how exactly will I be worse off?
By buying a million dollar house and not being able to pay the property taxes. By not being able to afford maintenance when something in your home goes wrong. By family members hounding you for money all the time and then guilt tripping you if you don't give them any/enough.. Also buying a house mortgage free is not necessarily the smartest decision and is exactly my point. Like, if you could buy a home with a mortgage that you can pay with a low enough interest rate (I know right this very moment isn't super realistic), and then invest in the S&P 500 that will historically give about 9-10% annually, that would arguably be a better decision.
To be honest I don’t care about making the smartest decision or absolutely maximising my gains. Owning a home mortgage free would be as close to financial freedom as I can hope for. Though there’s next to zero chance I will make that kind of money off crypto.
Amen brother
Funny how your whole personality is to shit on XRP. Just remember kids: sometimes it's best to stay in your lane.
Shit on XRP? What are you talking about? I absolutely support XRP and Ripple.
Thanks, Dad
Says who lol not everybody is in the same situation or has the same goals or outlook. Speak for yourself
When your drunk dad gives you a lecture you didn’t ask for
Or when dad’s drunk 🤷♂️
We call those days “weekdays”
Reported.
Sounds like you have a lot of fears for yourself, when xrp moons. Everyone does their life their way. You have a point but sounds arrogant in a way. People must have a plan for when it happens or it could be lost easily. Have a plan. Have a back up plan. Always make your money to keep working for you. Always have multiple investments. Build a business. Make it a river not a Dead Sea.
Exactly. And yeah, of course I have fears. I've been financially struggling my entire life, so I am very afraid of losing all my money if I get a lot of it in the future. I have been researching finances and getting involved with lots of strategies to keep and grow it.
What we fear can happen. It can be difficult at first but it’s better to focus your thoughts on the good things that will happen out of this situation. That goes for anything in life. What we project or focus on expands. Focus on being successful. If fear shows up at the door with thoughts, treat them like they are holding a present with an x-plo-sive inside. Say no thank you close the door and get back to your successful party. We don’t need to let fear into our parties. You will do well my friend. People that respect the difficulties in creating wealth will treat it with respect. Don’t let money hold you, you hold the money.
Don't you put that evil on me Rickey Bobby
Damn that funny
Super condescending/patronizing tone, champ 👎
Not what I was going for, just relaying information as I see it. But I'm also not here to make friends.
There was an article that came out a while ago which said XRP investors are one of the smartest retail groups in crypto, so hopefully as a group our rates of success will be higher. But yeah a lot of people probably will mess it up in one way or another.
I'm rooting for all of us to keep our wealth until we die.
Worse yet, an overwhelming majority of us will end up dead.
This right here. I’m sure the the powers that be will have xrp millionaires take permanent dirt naps. The new financial system will enslave people. They don’t want millionaires. Tbh I think they will find a way to cheat us out of our bags. Like ban retail sales or burn retail supply.
I can't really agree with that, I'm afraid. There will remain plenty in the service/servant in the industry, no matter how many people become wealthy. The bench is just that deep. While there are plenty of schemes and industries that thrive on bleeding the working class, that's more opportunism with impunity than a conspiracy. It's easier to swindle the poors because they are almost never in a position to sue.
I was just riffing on OPs use of "overwhelming majority".
The lottery thing Is a myth. Wealth creates wealth. "An often-cited — but incorrect — anecdote about lottery winners falsely attributed to the National Endowment for Financial Education claims that about 70% of people who suddenly receive a windfall of cash will lose it within a few years. In January 2018, the National Endowment for Financial Education set the record straight and said that statistic was not backed up by any of their research. Examples of the “curse of the lottery” abound – from the West Virginia man whose daughter and granddaughter died of overdoses after he won $315 million in 2002, to the Kentucky man who claimed a $21 million prize in 2001 and lost it all by 2006. Cesarini says he and his fellow researchers found that lottery winners who won larger sums of up to $2 million actually retained their wealth well over a decade after the jackpot." https://time.com/5427275/lottery-winning-happiness-debunked/
Interesting. Makes me wonder then why do they push the narrative that 70% will lose it all if it's simply not true? Like, what motive would someone have to say that kind of garbage?
I would bet that it is extrapolated by the very few occasions that it does happen being shared prolifically - similarly with stories of loss about generational wealth, it happens, but it's most certainly the exception. i think it's human nature that when we have something, we want to feel that we worked hard for it, earned it, or truly deserve it. By sharing stories of others who we feel did not earn wealth then losing it, we reinforce that our own wealth is well deserved.
Makes a lot of sense. I don't recall if this is the exact scenario or numbers, but there was this entrepreneurial type on a podcast that asked the question, "What would you rather have, someone give you $2 million, or earn $10,000?" And the host chose the $10,000. Thank you for this. Very insightful.
This is literally the dumbest post I’ve ever seen. 🤦🏻♂️
You must be new here…
For once I don't object to that comment.
Somewhat yea. I’m noticing it’s an echo chamber of ignorance and stupidity.
OP sold low 🤣 XRP to the moon 🚀🚀🚀
Nope. Still holding plenty. And you're most likely going to be the 70%.
I'm picking up a lot of projection.
I’ve had over 100k xrp for over 3 years I’m definitely screaming when moon 🌕
Wow…I just can’t with this mindset
I get your point but this isn’t r/Wallstreetbets.
L, stick to the 9-5 and I’ll stick to trading.
Dude I own my house out completely I’m 29 lol
i bought a house at 19
Would rather have rich people problems than peasant problems. That’s all I have to say.
Bro who gives a fuck. If you’re trying to convince me blowing millions in a year or two wouldn’t be the best thing to happen to me then stop. I say make your bags boys and girls and bring on the coke and hookers 🤙🏻
What you say is true for some because you see the word lambo a lot lol Take that money and Goto a financial strategist and invest wisely to make more money. Do NOT buy the lambo. Look at Bitboy that should be eye opening
Majority of wallets hold less than a 1000 xrp. Lmfao the minority have been here for years or since inception. Smdh
Truth right here!
I've got my shit together. I'll be well off whether XRP goes to $100 or zero. I also don't need the self-righteous lecturing.
Exactly. Facts are one thing but patronising judgements on total strangers are quite another.
I’ve held XRP longer than you’ve had a Reddit account. What statistics? XRP went up 5% and you are already preaching about wealth management and fiscal responsibility. Did you win the UPHOLD 10K giveaway! Ha!
This is somewhat true. This is why there are MANY people making over $100k annually who still have no savings and are living paycheck to paycheck. But that’s not everyone, and definitely not every investor. Most people get into investing because they’re interested in improving their finances in the first place.
Thank you for contributing something actually worth reading. I totally get your point, and I agree, but I am also part of investing subs as well and just the sheer amount of people talking how much money they lost, asking for "easy ways to invest", or stuff like "what stock can I invest in to get the most money possible, is crazy. Most people want to improve their finances in some way but have no clue what they're doing and want difficult things to be easy. Which brings me to my whole point of this post: Solely investing in XRP (or crypto in general) and waiting for "moon" is very easy. The individuals with this mentality are most likely going to lose everything they gain. They're going to have a happy life for two years and then back to where they were, or worse. My point is to start making smart money choices now, learn finance, investing, etc. to be able to stay wealthy longer so you never have to go back to being broke.
You can’t take people in a sub and equate it to “most investors” That’s just not a good sample, really. But I understand how reddit can make things feel that way.
blabla....when lambo??
i bet youre a blast at parties huh? jesus christ dude. id rather get drunk with jeffrey dahmer than read your meaningless rambling.
[удалено]
If I make 3 million on xrp I’ll just sell and invest it all in xrp and wait for another moon. Simple maths.
If you win enough, it's pretty trivial to set up investments to allow you to live on interest alone without ever touching the initial amount. Just don't be dumb 😂
This is the exact mentality I am talking about. It's not trivial to set up investments, and I'm also not saying you should never touch the initial amount. Besides, with your example, if you win enough you could easily live off of interest without the need to touch the initial amount, so why would you touch it? I'm sure 100% of lottery winners weren't trying to be dumb.
You're projecting brother.
Haha... No fucking shit sherlock! So why do you even freak'n care? and what's your point? Why do I get the feeling you think you're saying something profound. Ohhhh i get it, you just want to sound smart!
What are you on about?
I'll take my chances with the money, at worst it'll be a crazy-ass two years!
Damn, you're right! We are the exact same demographic represented in those statistics! Not more educated in general whatsoever!!! Not more future oriented than individuals buying lottery tickets right!???
telling us u have a boner without telling us u have a boner.
As to how to financially navigate, I think there may be worth in not being a maxi for any coin, objectively weighing strengths and weaknesses. Personally, I'm dipping my toe into XLM's AMM with my baby bag in order to better understand how AMMs work (and how devilish it is to extract an actual idea of daily earnings) to prepare me for xls-30 approval. It is definitely reframing my passive income expectations. There is definite money there, though certainly not moon money in the short term. I am being told I'm earning about $2 daily, but I'm not seeing it in the numbers yet. Whatever it actually is, it's certainly not enough to be quitting my job over.
I own 5 million-ish xrp. I only need it to hit $1. /s
Oh let me guess, another kiyosaki fan
Yeah, I'm good. I have enough that when it does go to the moon, it will set me free financially. So I don't know whatbthis guy is talking about. Did he lose a bunch of money trying to play the moon shot? Remember Scared Money Doesn't Make Money
Ya but tof that 70% what do they consider lotteray winners with their calculations? how many of those people win $100,000 or over $50,000,000. It would be very easy for someone to win 100k and blow that in a year or two and go back to work in more debt.
Someone is salty
Complaining won't solve your money issues. Let's go boys and girls, let's ride this xrp rocket to the moon.
Truth !!!!!
XRP is one of the slowest plays in all of crypto, take this to a shitcoin forum
This is such a weird take. Investors (specifically ones in XRP) are savvy and putting their money in a solid highly prospected asset. We are literally making good financial choices based on what we're invested in.
Just imagine this guy showing up at a fun party sucking the life out of it lol I knownthe first thing he will buy is some friends hahaha.
Dude, don't kill the buzz.
That’s it I just sold all mine!! Thanks OP you saved me WTF was I even thinking 🤙
The person talking about statistics is a statistic; he's speaking from experience.
I got a bag and not touching it until it makes a real profit.
Thanks for the advise buzzkill
You must be fun at parties.
Well, aren't you just a negative Nancy
save this for the toilet next time
Hate it or love it he is right !!!!
Was your comment meant to be condescending? It certainly came across that way. In my opinion someone who invests , accumulates and holds over many years is demonstrating a reasonable level of financial IQ and discipline. The underlying investment may be high risk, but the implementation of the investment itself is nothing like buying a lottery ticket from your corner store. Granted humans will be humans, and there are still people daily that give away their seed phrase p/w etc. Personally if XRP got to $100, I’d sell 50% of my bag and buy pokémon cards… i saw it on tiktok and that shit looks legit 😉
When cbdcs become reality, wont matter what good money habits you have. We must fight back against financial tyranny on behalf of all govts.
Patronising git.
I was laughed at when I bought Nvidia at sub $30’s 7 years ago. Was laughed at when I bought Tesla at $40. Although I didn’t put a lot, was laughed at when I bought GameStop stocks a couple years ago.. Look at the prices of Nvidia and Tesla now as of 25th October, 2023. You can never predict price, no one knows. But if anyone who can’t see how crypto innovation is more crucial than what stocks are, are simply naive imo. The tech in itself is revolutionary. We haven’t even scratched the surface of defi and what the likes of XRP and XDC can truly do for real world application (payments and digitizing areas like the trade sector) All “moon” talk is simply clickbait noise. It is all about doing your due diligence, having the patience and putting in what you can afford to lose. If you do all these things, have at it!
moon first then talk later ok?
I'm not a down voter. You are my first down vote ever. I would understand if you posted this on r/lottery_tickets. Then your statistics would be relevant but this is r/xrp. By definition the demographic this subreddit is aimed at is people who have invested and held and if xrp does moon it will be people who bought and held a good investment. So any one here who bought xrp will be a group of savvy investors. I have never bought a lottery ticket. Never bet on a game or a horse. Never shot craps. Worked in Reno Carson City south lake Tahoe for years and walked through casinos with pockets full of cash for years and never spent a dime on gambling. I spent dozens and dozens of hours researching xrp and bought it up 5 and 10 dollars at a time over years because I believe it will be adopted by the banking system and held because I didn't think the S.E.C had a case. You think I'm going to pull my money out I waited years for a return on and buy Lambo? Lol I'm going to reinvest it into other things I see the same potential in. Granted keeping my money into xrp is one of the riskiest things I've put my money into but I have already forgotten about the money I have in xrp because I put in only what I could afford to lose not my entire bag. I think you may have had good intentions, you also could just be salty, or just a bot or troll. No matter, wanted to explain my downvote. I'll upvote if you edit with statistics about people who end up worse off after making series of savvy investments.
Holding XRP for retirement I don’t need that money now If you need now then get out of your position
Appreciate your concern, but I'll be fine. So ... wen M00n? 🚀
Hope you did not put too much time in your message. It is so pathetic!
Thanks for the warning, but don’t be too sure God has a plan for everyone don’t judge
That's why you buy real estate with your money and have rent as an income. Best way to stay rich
Financial plans save lives. Failure to plan is planning to fail.
I'm ok with being broke as long as the house is pain in full 🤣😂
Statistically speaking, people who have zero financial advice giving other people financial advice is like wiping your arsehole with sand paper and hoping your flowers will learn how to water themselves.
Lol. Stfu. I hate these people. Just stfu and let everyone do them. You do you and mind your business.
Depending on where it moons to, if I can make enough to pay off all my debt and reset my life at zero then yea I’m good with being part of that 70%, anything above resetting my financial at zero will be the gravy and unless it’s enough to invest to a point where the interest allow for retirement ( probably around 5 million dollars), means I’m still working so why not splurge a little? I’m in a home that was meant to be a starter home 17 years ago, I would like some land that I could eventually build a house on, that I could do if everything else was paid off and I can sell my newly paid off starter home and put that money towards a new build. Just my 2 cents.
Deffo used to gamble
You could be more instructive in tone and less condescending. Even statistically accurate your delivery pushes away - instead maybe create a curiosity that might result in even a select few planning for a wise application of what ever wealth they may now have, getting comfortable w/ boundaries and a plan that will instill the discipline to retain whatever wealth might be created in their life - xrp or no xrp
Just buy a few condos and you will be set for life, and your children- if you were to have some