Ripple update: Patience Is A Virtue
This post is an anecdote to hopefully prepare some of you for a ride you may not be expecting. I believe many within the cryptocurrency sphere are simply waiting for “the next bullrun to the moon” and I see it on this subreddit as well.
The summer of 2014 a buddy of mine and I decided to put a couple grand into penny stocks, weed stocks to be precise, it was the hot topic at the time much like cryptos are today. We quickly got incredibly lucky and turned that $2,000 into nearly $90k within about a month. Over the next two months we kept trading…and trading…and trading… our way down to $30k.
At this point we found a company called Tweed, they were going to IPO onto the Canadian stock exchange, were one of 8 marijuana growers and distributors to be licensed by Canada. They were working hand in hand with regulators, had audited financials, and followed all the rules. We bought in with our $30k at about $3 a share. For a month or two the stock dragged down and sideways while all the other penny stocks were making gains of 50,100, 200% some days.
We wanted that action we sold everything and got back to trading eventually losing our way to about $5k.
It’s been 4 years since that summer, Tweed is now listed on the nasdaq as Canopy Growth Corp. sitting at a healthy $61.52 a share. We missed the opportunity of a lifetime due to impatience, being young, not understanding the value of a solid business plan versus false promises.
XRP is my personal second chance to not fuck up. A digital asset with several use cases, backed by several organizations whose sole goal is to see it succeed, working with regulators, a solid business plan, and goals for several years to come.
I will not lose patience, 2-4 years is a drop in the bucket if XRP does what I believe it will do. Take the time to understand your investment, understand that “moon eoy” is not the goal, utility and use case are. XRapid, Coil, Codius, will more than likely **NOT** take us to the moon anytime in the next 6 months. I believe we will see slow but steady growth once XRapid is announced, there may be fomo due to the speculators but utility will drive the price one day. I believe we hold a digital asset that will change the world, in time, and one day the patience and and investment will be worth it.
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: UnderstandingNow
Score: 113
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