Ripple update: New take on the cliche we always hear, an idea for a possible “win-win” scenario in the security-or-not discussion, and a thought on motivating factors uniting early XRP/crypto adopters
Long time lurker here. Just wanted to share what I believe is an intriguing thought, and curious if anyone else has had something similar cross their mind.
By now, the phrase, “Only invest what you are prepared to lose” has become so ubiquitous, it is nearly a cliche. A very wise phrase, but now very common.
It just struck me as I was looking at my new beverage glassware, that, to me, “what I can afford to lose” is much, much higher than most people could comfortably accept. As in, does anyone else here not like to discuss crypto with friends because they know those friends would question your sanity? And yet would you be fairly unaffected if your crypto holdings became worthless?
I put nearly all of my spare funds in XRP back in november ’17. Still have a few ETH from 2016 too. If XRP is made illegal, Ill kick myself for not selling in January, but Ill stay a minimalist, and Ill survive without changing my life much. But if it hits $5… holy crap, that’s life changing money.
I say “illegal” since thats the only status that would crush the value of XRP. In the extremely unlikely case XRP is made a security, I believe thats no big deal, over the right time-frame. Ill just sit back and wait for the dividends from Ripple to come in.
Theyre so pro-regulatory, they’d probably toss out small dividends just to remain in the good graces of the feds, and so innovative that theyd probably find a way to make it profitable for themselves. Thats one business Id love to have some securities from. And I bet a lot of other, huge, institutional players would too.
Anyway, to put in context how comfortable I am with losing a huge sum of money, I wish I could put in a picture of the glassware that inspired this post.
That “glassware” is actually a few washed out wide-mouth salsa containers. Which are sitting on the scratched counter in my tiny, furniture devoid apartment, one of many factors allowing me to save/invest over 60% of each paycheck. Advantage of being raised poor I suppose. If you want to be hardcore, you do hardcore things.
“If you aren’t happy with less, youll never be happy with more” is another cliche I believe is appropriate here.
And I still dump nearly all my remaining money into XRP on payday.
(Now for the hedging. This is still a measured risk, so I have a small emergency fund, and I will diversify my portfolio as I get older. But til Im 30, being 99% crypto-allocated is a risk I can stomach.)
As for the motivation behind such risk-taking, does anyone else here (particularly fellow millenials,) still have a massive distrust of the finance and housing sector, or of traditional investing in general? Its part of why I like the idea of a decentralized financial structure.
Sorry for all the questions, and the wall of text. Theres not much else to do but chat while we wait for the world to find out what its missing, and I like learning about new or shared perspectives.
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: TiredOfRatRacing
Score: 10
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