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RE: Why Cryptocurrency is Important to Me
I've just heard that the founder of ripple is one of the most richest men in the world now; where did he get all his money from? I'm beginning to lose heart in crypto
Yes, he is. That's real strange too because XRP is cheap. That means, in order for it to be third in market cap, they've had to sell a lot of crypto. Mostly on speculation. I'm guessing he's made a lot of money on other cryptocurrencies, probably Bitcoin. But he's done fairly well with Ripple too. I just think it's strange because banks, the customers they target, don't seem all that interested.
These last months I've made one choice after another that was not in my best interests: I sold xrp, ada, neo, stellar and bought holo; holo then went down and the others went up high and I lost out there. I keep doing this over and over. Yesterday I sold my tron and bought into stellar and tron carried on going up and stellar went down. Binance delisted bnp so I had to sell that and lost three quarters of my stake in that. And to cap it all, I've only got less than I started with last year. I could still make a profit if it all goes up at end of year, or at least get my money back, but I'm thinking it is so manipulated now that there is little chance of that....
That's why I don't do short-term trades. It's easy to lose. I'm betting the markets will go up long term. It doesn't matter what you hold (for the most part), long-term, the market will go up. Maybe not like last year, but they'll go up for a long time. I see mass adoption in my lifetime. Maybe even national digital currencies among the majority of G20 nations. If that happens and crypto earns legitimacy, you'll see viable trading markets that are protected by regulation. So I'm HODLer. Buy and hold. It's much easier than timing the market.
You could be right