I told you all the story of how I got rid of all my Ripple (XRP) in order to fund my account here.
But did I make a good call?
I had sold out of all my XRP back in November of 2020. It was up and I dumped it!
So today I see XRP hitting $1.36 and it is time to take a look back and see if I did the right thing.
I even got rid of it at its peak, at the time, which was around $0.70 for the XRP
Now I see XRP sitting at $1.36 and wonder if I had made a good call.
Let's take a look at what I did.
On the second week of November last year, I dumped 27,000 XRP to buy a little over 164,000 Hive
The value of the XRP was 0.70 x 27,000 = $19,000
- $19,000 buys 164,000 Hive at 0.11
- Today 164k Hive is worth $111,000
If I had held until today?
The value of the XRP was 1.36 x 27,000 = $36,720
- $36,720 buys 54,000 Hive at $0.68
- Today 54k Hive is worth $36,720
(only 0.611 BTC)
- Today 54k Hive is worth $36,720
No. I didn't sell my XRP too early or miss out on anything.
But what if you had sold it into BTC ?
Same argument.
27,000 XRP at $0.70 is $19,000
- $19,000 would have bought 1.21 BTC at $15,600
- Today 1.21 BTC would fetch $72,000
Of all that I could have done.
I had made the right choice.
Sunday is a great day to take a close look at what you have done in the past. Check if it came out the way that you thought it would.
What were you thinking at the time?
See if you were right.
I remember holding the XRP with the intention of getting rid of it. I do not like the coin. It is centralized. I did not even remember having any until it came up in the news. But I did hold it in order for the right timing.
When my coin is up, and the coin I want is in a deep dip, that is my chance to do well!
The dollars price for a currency is not a good measure to trade on.
The figures are rounded for the most part for simplicity. There is no way to buy, sell or transfer quantities all at once without KYC and I do not play that game.
Posted Using LeoFinance Beta
I got rid of all my XRP as well though at a much different quantity lol. I was still up 2.5x on the initial investment so that was good but this stuff is a tough call. You made a solid choice with hive and the cool part is the 164,000 hive grows each day with voting and posting where things like XRP don’t. My litecoin investment into hive (Steem is when I bought it) has gone from an initial investment of 650$ to now a value of roughly 8k depending on how the market moves. I will take this over others given the ability to do multiple things to earn more of it but it’s some cool stuff.
Now if I can just find some more time to look into some tokens again. Lol
I love the way you're thinking and the analysis that compares any thinkable possibility. This is the only way to assess your decisions.
Looks like you made the right choice and now you can enjoy the benefits. Not to mention that HIVE is nowhere near its potential. Well done!
Posted Using LeoFinance Beta
Thanks for the vote of confidence! When you question yourself, your thinking process will always improve.
That is very true!
Posted Using LeoFinance Beta
Do you think, XRP will move more? Your trading thoughts are encouraging
It is strange that everyone was worried about the price a month or so ago as they were being looked at by the SEC. It was way down. To me, a visit from the SEC usually means more advertising and attention from traders for the coin.
People that want a centralized coin to invest in will buy it and it will go up for a time. For me, I could not get rid of it fast enough.
Posted Using LeoFinance Beta
ok, thank you for your good advice.
Truth is, sometimes our preference is hardly determinant on prices. I decided not to hold coins like doge not because I want gain but because I simply didn't trust it, we miss a lot of money sometimes by forgoing one choice over the other but then the fact that hive bad more Utility than XRP is why I think it was a good choice, I might be wrong but then sometimes these things happen we eventually forgo a coin for another coin.
Posted Using LeoFinance Beta
You have to trust the coins you invest in.
Exactly true because it's the main reason I would have bought it in the first place
I had already decided to dump Ripple back in 2013. As far as trust goes, I only put $20 into Ripple at the time. It was just enough to cover transaction fees on the platform. Then the platform proved unusable.
I agree. I will not put any quantity of money into something that I do not trust. I am also very hard line about storing and caring for my own keys. I am looking to buy more Hive. When do you think would be the right time to grab some?
Probably not now, im guessing you'll have to wait a little bit at least, but I feel there would still be 1 or 2$ soon, so probably you could during the bear market, but well its your choice, I believe i'll buy hive anytime, if for nothing then the curation rewards.
Yes, I think you made the right choice!
If you committed to HIVE, check this out:
You could wait a bit!
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