Crypto Starter Kit
DISCLAIMER: THIS DOCUMENT IS NOT INVESTMENT ADVICE AND I AM NOT AN INVESTMENT ADVISOR
The Content is for informational purposes only and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. I am a crypto enthusiast sharing my research.
Ripple Board of Advisors:
Why should you be so confident that a Silicon Valley startup crypto currency company has the ability to completely change and be at the center of the future of global finance? Like anything in life, it's all about who you know.
Governments and Central Banks all working together to update the global financial system:
(Take the intro and outro with a grain of salt. This video is not about anything biblical, and it is not "culty" like the intro makes it sound. Also note that the narrator does not have any insider info, he is just making predictions based on research)
Central Bank Deep Dive
Why does the global financial system need to change?
What is XRP:
Ripple CTO Presentation - “Enabling the Internet of Value”, UNCHAIN Convention
https://www.youtube.com/watch?v=DoSW3zfFOwM
(from Everis Presentation linked below)
Ripple CEO w/ Economic Club of New York
ECNY Highlights - Illustrates calibur of speakers (pay attention to 5:12. Why would the ECNY put the CEO of Ripple, a Silicon Valley startup, in this highlight reel, beside past presidents and global leaders?)
The Swiss National Bank Conference Pitch
(May, 2019)
The CNN Pitch
(Feb, 2020)
(Sept, 2019)
The CNBC Pitch
(Jun, 2020)
The Fortune Magazine Pitch
(Oct, 2019)
(Jun, 2019)
The Bloomberg Pitch
(Mar, 2018)
Pay particularly close attention to this one, to Brad's answer to the question asked at 0:55. Compare his answer to what Brian Brooks says in the video linked in the "US OCC Brian Brooks CNN Interview" section below.
The Plan
Christine Lagarde, Mark Carney, Judy Shelton Quotes
(2 min video clip)
https://twitter.com/Bigity3/status/1281028759454433282?s=09
R3 Cords Explainer
Digital Asset Paradigm Shift
Highlights from this video:
24 months from March, 2019 is March, 2021. Benoit Couvre, Head of the BIS, predicted the IMF would use Cryptocurrencies as part of their toolkit for crisis management by March, 2021.
The End Game
https://twitter.com/Paisan26849860/status/1097227777684713472?s=19
Bitcoin Stock to Flow Model
https://twitter.com/100trillionUSD/status/1283014740567044096?s=19
NTT Data: The Awakening of the Banking Industry
Why XRP is the most misunderstood cryptocurrency
https://panos.writeas.com/why-xrp-is-the-most-misunderstood-cryptocurrency
Regulatory Clarity
Banks Allowed to Custody Stable Coins
https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-125.html
Analysis by Crypto Eri
Summary: Banks are now allowed to Custody Cryptocurrencies and Stablecoins, per recent OCC regulation and clarification. Banks will likely begin using Stablecoins such as a US Dollar Stablecoin. Some of these Stablecoins may be backed by xrp and can be transacted on the xrp ledger. This increases the demand for and value of the xrp that is being used to facilitate these payments and liquidity between assets. The OCC has now provided all the regulatory clarity banks need to transact using Stablecoins backed by xrp.
David Schwartz Stablecoin Proposal
ECB Crypto Assets Task Force White Paper on Stablecoins
Banks Allowed to Custody Cryptocurrencies
US OCC Brian Brooks CNN Interview
Pay special attention to his response to Julia's question at 4:45. Does his response sound at all familiar to this Ripple commercial released in 2018?
https://twitter.com/Ripple/status/1057302054606012417?s=20
Brian Brooks Payments Rail Disruption
https://twitter.com/boy_xrp/status/1292304113284403201?s=09
Brian Brooks and Jay Clayton "Unleash the Private Sector into the Market… Start with the easy, low hanging fruit of Stablecoin Powered Payment Systems"
https://twitter.com/boy_xrp/status/1311746097430302723?s=19
https://ledgerinsights.com/sec-chair-stocks-become-blockchain-tokens/
Push for Digital US Dollar
https://www.digitaldollarproject.org/
Note Accenture is a project partner. Keep in mind they are a Ripple investor, and remember their relationship with R3 (Cords settles using XRP), explained in the SPQR "Central Bank Deep Dive" video linked above.
SEC Chairman Jay Clayton on "Digitization of Our Financial System" Dec, 2019
https://twitter.com/AssetsDaily/status/1204466197732954113?s=19
Judy Shelton on Digital Rival Currencies
https://twitter.com/boy_xrp/status/1311783263615225858?s=19
https://youtu.be/b2Bnje_xpgY Chris Giancarlo, Former CFTC (Commodities Futures and Trading Commission) Chairman
Harvard and MIT, Digital Currency Wars: National Security Crisis Simulation
(Oh by the way…
Blockchain Bill in Congress
https://soto.house.gov/media/press-releases/soto-blockchain-bills-pass-house
Advocacy Group Giving $50 Bitcoin Contribution to Each Member of Congress
https://twitter.com/DigitalChamber/status/1313071439201759233?s=19
Congress Urges Use of Blockchain for Stimulus
IMF on Crypto, Feb 2020
https://twitter.com/IMFNews/status/1227585749480091650?s=19
Ripple Committing to Carbon Neutral by 2030
https://twitter.com/bgarlinghouse/status/1311338790233931776?s=19
Compare this to Bitcoin's electricity usage.
XRPL Foundation Launch
https://twitter.com/JoelKatz/status/1309147388586659845?s=19
Ripple is officially no longer the primary driver of XRPL code changes. Instead, a foundation with multiple stakeholders will continue XRPL development. This further decentralizes the ledger and further separates Ripple from XRP, to more clearly illustrate the decentralized nature of XRP as a currency.
Major Financial Institution Involvement:
Jim Cramer
At about 40 mins, Cramer boards the crypto train. You know once Cramer is on board, he's going to turn around and start selling the American people on CNBC. At the 1hr mark of that video, Cramer literally says, "I'm gonna take action. And I'm gonna take action right after this video"
"Big engagement from the Core Infrastructure Players, Credit Card Players, Messaging Architecture Players in the financial ecosystem"
https://twitter.com/XrpYoyo/status/1310229038502490114?s=19
This is David Treat, Senior Managing Director of Accenture. Pay very close attention to the words he uses (quoted in headline above). Could SWIFT be the messaging architecture player he's referring to? David is on the home page of the Digital Dollar Project webpage.
MicroStrategy
https://www.google.com/amp/s/www.coindesk.com/microstrategy-buys-more-bitcoin%3famp=1
Who is MicroStrategy?
Alibaba and IBM
Nasdaq https://www.nasdaq.com/solutions/digital-assets-marketplaces
Fidelity https://www.fidelitydigitalassets.com/overview
https://twitter.com/DigitalAssets/status/1310635793858342915?s=19
https://www.coindesk.com/fidelity-international-doubles-stake-in-bitcoin-mining-firm-hut-8
InterContinental Exchange (Owner of New York Stock Exchange NYSE)
TD Ameritrade https://www.tdameritrade.com/investment-products/cryptocurrency-trading.page
ErisX https://www.erisx.com/ | https://www.erisx.com/about/investors/
JP Morgan https://www.jpmorgan.com/global/news/digital-coin-payments
State Street https://fortune.com/2019/10/02/bank-blockchain-state-street-digital-assets/
https://youtu.be/AiESdyHXodg State St Rep on Fortune Magazine "Balancing the Ledger"
"Trickle trickle trickle.... and then we believe there'll be a FLOOD… when it happens, I would look at historic precedent" @1:35 into the video
https://fortune.com/2019/10/02/bank-blockchain-state-street-digital-assets/ Illustrates Balancing the Ledger Interview occured Oct, 2019
Fidelity, Vanguard, and Schwab
Deloitte
https://youtu.be/jTw0byWS19M (Notice the different currencies shown 3-5 seconds in)
Grayscale
https://grayscale.co/digital-asset-investment-report/
https://money.cnn.com/quote/shareholders/shareholders.html?symb=GBTC&subView=institutional
HYPERLEDGER
https://www.hyperledger.org/about/members
Who runs on Ripple?
https://www.publish0x.com/xrp-community/full-list-of-ripple-customers-20192020-update-xmjwkg
SBI Holdings (Largest Banking Conglomerate in Japan) https://www.sbigroup.co.jp/english/company/group/sbirippleasia.php
R3 Corda Settler - R3 is an enterprise blockchain software firm https://www.r3.com/press-media/r3-launches-universal-corda-settler-application/
“Of the four platforms, only R3 Corda was identified as meeting NIST standards and therefore being able to be implemented in federal government projects.”
Deutsche Bank https://t.co/SUmgdYuXMi?amp=1 (CNTL+F Ripple and XRP)
Temenos - enterprise software for banks and financial services (CNTL+F Ripple and XRP) https://www.temenos.com/wp-content/uploads/2019/08/Blockchain-Reality-whitepaper-2019-Aug-21.pdf
Everis/NTT Data (CNTL+F Ripple and XRP) https://cofinaeventos.pt/wp-content/uploads/2017/09/Blockchain-Technology-Adoption-in-Finance-Isaac.pdf
PayPal
CME Group
https://youtu.be/fjnovGRQrRE (video released by CME Group)
https://youtu.be/LKrJ_HpbR-w (video released by CME Group)
https://youtu.be/341CiPi6y2k (original video released by cme group)
Ripple Net - Subscription platform marketed directly to banks https://ripple.com/
Note their board of directors https://ripple.com/company/board-of-directors/
The Ripple Mafia Article
Is XRP Usage/Liquidity Increasing?
https://twitter.com/LiquidityB
Bloomberg Report
https://data.bloomberglp.com/professional/sites/10/Bloomberg-Crypto-Outlook-April-2020.pdf
Global Leader Involvement:
Ripple CEO w/ IMF
https://youtu.be/1innphU7Kog Ripple CEO presenting to IMF Conference
https://youtu.be/ON6nOWmsCdY Ripple CEO presenting with IMF General Counsel
IMF
https://youtu.be/zG4IUHVN7bM - Christine Lagard Apr, 2019
https://blogs.imf.org/2019/12/12/central-bank-digital-currencies-4-questions-and-answers/ IMF CBDC Q&A
https://xrprightnow.com/imf-and-ripple-what-is-going-on/ Brad Garlinghouse and Christine Lagard in IMF "Family Photo"
https://twitter.com/HamidRowaihy/status/1205994773112381440?s=19
Christine Lagarde Epic Speech, Feb 2019
Mark Carney
IMF to Reassess SDR Basket Oct-Nov 2020
https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR
IMF Announces Postponement of SDR Review to July 31, 2022
(Thanks to @thebearablebull for this info)
Source: https://youtu.be/6D75SvW9Uog @6:40
Big Finance Execs / US Regulators
https://youtu.be/QS4d9HylZpA Glenn Hutchins on Crypto
https://youtu.be/1eKTZaBawXs Ripple Investor Glenn Hutchins, SEC Jay Clayton, Gary Cohn, State of Our Securities Markets
https://youtu.be/cAYW6LXP_nA What is Bitcoin? What is Blockchain? – Fidelity Labs
https://twitter.com/AssetsDaily/status/1204466197732954113?s=09 Jay Clayton (SEC Chairman) at SEC Hearing 10DEC,2019
https://twitter.com/DiepSanh/status/1037655707917537280?s=19 IMF Representative
Global Leader Docs:
Congress 3rd Party Research Doc
https://crsreports.congress.gov/product/details?prodcode=R45427
IMF CBDC Policy Maker Toolkit
Sheila Warren, Platform Head – Blockchain and Distributed Ledger Technology, World Economic Forum, USA
Shown on pg 4 of the Toolkit. Happens to be a Keynote Speaker at the 2020 Ripple Swell Conference.
IMF 2020 Financial Sector Assessment
Credit: @NewCreationCap on Twitter
US FATF (Financial Action Task Force)
Credit: @XRPCryptoQuebec on Twitter
"Pay close ATTENTION to Paragraph 25. Sure sounds like XRP.
G20 Insights May 2020
Notice the paragraph titles:
"Dawn of a new banking model"
"Approaching a new Bretton Woods moment"
BIS CBDCs
OMFIF/IBM CBDCs
US Digital Dollar Yahoo
Banking for All Bill Digital USD Bill
Crypto Valuation Models
Susan Athey & Robert Mitchnick (Stanford Economics Professor and MBA Candidate)
(See People In Important Roles below… Robert is now Vice President of BlackRock)
Crypto YouTubers
Researchers
Jungle Inc https://www.youtube.com/channel/UC9t0DRLy5_dQEpb8nPKAiQA
Thinking Crypto https://www.youtube.com/channel/UCjpkwsuHgYx9fBE0ojsJ_-w
The Digital Asset Investor https://www.youtube.com/channel/UCtQycmSrKdJ0zE0bWumO4vA
Crypto Eri https://www.youtube.com/user/erichanintokyo
To The Lifeboats https://www.youtube.com/channel/UCsJw8h9p26lU7Nea2eHdOsw
The Bearable Bull https://www.youtube.com/channel/UCX4VQG8mqhJeTJRNl69TOrg
King Solomon https://www.youtube.com/channel/UCYXvemxnjwbQ64y6Q12ytnw
Kevin Cage https://www.youtube.com/c/KevinCage
Mr. B XRP https://www.youtube.com/channel/UCqAw1B53hfuDtJU93PQw--A
Working Money Channel https://youtu.be/tdwhPIWg2Ps
Brad Kimes https://www.youtube.com/user/bradboomboom
https://twitter.com/BakkupBradley/status/1299423366751883266?s=09
Cryptonairs Documentary - Brad Kimes / Community Funded & Produced
https://youtu.be/WypmYTXTznE?si=owvDa-H2fA91zbeY
Technical Analysis / Charts
Blockchain Backer https://www.youtube.com/channel/UCia6oYbLKo8fLOguATpACmA
Deep Dive Researchers - This is the long/heavy stuff. But this is where a great deal of the info dug up derives from.
Bank XRP https://www.youtube.com/channel/UCpVfAYSJFk2UoLG-vz9Xy4g
Darren Moore https://www.youtube.com/results?search_query=darren+moore+jr
SPQR https://www.youtube.com/channel/UCjzG_D5P6MFC4mbzQIwCDyg
“XRPArcade” XRP News Archive https://www.xrparcade.com/
Crypto Documentaries
The Crypto Bear - Crypto / Ripple / XRP Documentary https://www.youtube.com/watch?v=nnbgLDKml0Y&list=PLxqm1gZcf1hvC9HAJK-MvHfRBfwBsDvWP&index=20 Start with Ep. #1 and work your way through to #20. Probably 30 hrs worth of documentary.
Love for Crypto Documentary - Also can be a little abrasive. Can seem a little tin-foil-hatty. Just another data point. Make your own assessment.
https://www.youtube.com/watch?v=Wbgvd239MJ8&t=4152s
Cold Fusion - Tech Documentaries. Has a number of them on crypto. Chronologically listed below. https://www.youtube.com/playlist?list=PL0iVR8sl9TiX5HUjgRRz94tlct5Upgm9E
6/11/17 Who controls all of our money
7/23/17 Bitcoin vs Normal Currency
9/8/17 Blockchain matters more than you think
12/14/17 How big is Bitcoin
4/17/18 How Blockchain is already taking over
4/25/18 Blockchains biggest losers
5/16/19 Libra cryptocurrency
6/8/2020 How is money created?
8/25/2020 Blockchain is Now mainstream
The Banking Digital Arms Race is Here
This is an interesting one. It looks like most of this youtubers videos contain extremely controversial material, however, I see a lot of truth in this particular video. I trust in everyone's ability to do their own research and decide for themselves what information and sources are credible.
This is by no mean an exhaustive list of the invaluable Crypto Content Creators. If I’ve left you off of this list, please do not be offended. This is nothing more than a consolidated “jumping-off point”. Know that your content is valuable and appreciated!
Important Screenshots
People in Important Roles
This section shows a number of important people in the crypto space that have notable roles in non-crypto finance. Look closely at each of these people’s current roles, and their previous roles. See the cross pollination taking place between crypto and non-crypto finance. Many of them start off in non-crypto, then move into crypto… or vice versa.
DAI lays out all the connections listed below in more detail
https://youtu.be/BcOlqJLY6nQ, He also lays out more connections in the video link above in the “Ripple Board of Advisors” section of this document (if you haven’t watched that one yet).
https://youtu.be/9eqNClCrNvI Even more connections m, courtesy of DAI. Promontory Financial Group, IBM, R3, and Ripple
Former Ripple, Now Federal Reserve
Former Coinbase, Now OCC
Now Ripple Legal Counsel, Former CIT Group Counsel (while Steve Mnuchin was also an executive at CIT Group)
Current US Treasury Secretary - Notice his missing Experience while he was at CIT Group (detailed in CIT SEC Filings). Typically company executives know each other… and keep in contact over the course of their careers.
Current Ripple Advisor (via Wilkie Farr) and Co-founder of the Digital Dollar Foundation, Former CFTC Chairman
Current Interstellar CEO, Former founder of Zelle
VP of BlackRock, Former Ripple Strategy and Product Marketing
Matthew Mellon
Blockchain Job Postings from Major Financial Players
This section illustrates screenshots of Big Finance Players posting job requisitions for crypto and blockchain roles.
Goldman Sachs
JP Morgan
Amazon
The Charts
https://primexbt.com/blog/ripple-price-prediction-forecast/
Days Since Last XRP ATH $3.84
https://www.tickcounter.com/clone/countup/179999
(Compare to 821 days and 974 days - The length of the last two XRP bear markets, depicted in the chart above)
The second bear market (947 days) was 126 days longer than the first (821 days). This is 15.3% longer.
Non-Financial Advice Timing Predictions, Using Historical Data, assuming timeline repeats:
If we extrapolate this trend, using just the number of days (126 days), we can expect the 3rd bear market to last 1,073 days, ending on Dec 11, 2020.
If we extrapolate this trend, using the percentage increase (15.3%), we can expect the 3rd bear market to last 1,092 days, ending on Dec 30, 2020.
Crypto Exchange Tips
- Have accounts on multiple exchanges. When a bull run goes exponential, the traffic of people trying to cash out can cause “traffic jams” on exchanges. Servers can go down, preventing you from logging in. Exchanges may take multiple days to release your funds to you due to “AML/KYC” (Anti Money Laundering / Know Your Customer) strict banking regulations.
- Have your exchange accounts “verified” on the exchange. This is a higher level of security where you provide the exchange with more “know your customer” information so they can verify your identity. Since they have better identification of you, and know you aren't a terrorist/criminal, they can permit you to have a higher withdrawal limit. This when, when the day comes that you want to withdraw your million dollars, you won't be limited to $10k per day. Keep in mind that the last exponential bull run only took 3 weeks to go exponential. If you run into any issues withdrawing your funds, which can slow you down by days, that can cost you massive gains and make you miss your opportunity.
- Some exchanges have lower withdrawal fees than others. Some exchanges have lower fees for limit trades from crypto to USD. Knowing these rules for each of your exchanges can save you a considerable amount of fees when you cash out.
- Know that EVERY…. YES, EVERY…. I SAY AGAIN, EVERY… crypto trade is a taxable event. In other words, if you invest $1,000 in Bitcoin, then that grows 10x to $100,000 before XRP moves from $0.20, do think you can just trade that $100,000 into BTC without it being a taxable event. The IRS will not have mercy on you if you convert that $100,000 BTC to XRP, if XRP never goes up, and if Bitcoin goes back down by 90%. You will essentially be back to the $1,000 you started with, but the IRS will hand you a massive tax bill. If you held that BTC for less than 1 year, the short term capital gains rate would be ~50%. If you held for more than 1 year, the long term capital gains rate would be your standard income tax bracket, based on your annual income (we’ll use 30% as an example). Having said that, at the end of that tax year, even though you are back at $1,000 due to poor luck/trading, you will receive a $50,000 or $30,000 short term or long term tax bill respectively. Having said that, the smart move would be to store the taxable portion of any trade you make “in the green”. For example, if my $1,000 BTC investment 10x’d and became $100,000… If I wanted to trade that $100,000 into XRP, the tax-smart decision would be to withdraw and store $50,000 (if short term gains) of that $100,000 in a savings account named “crypto taxes”, then trade the remaining $50,000 into XRP. This bit a lot of people in theirs butts in 2017. Don’t let that happen to you.
- Crypto Taxes - I recommend https://cointracking.info/ to do you crypto taxes. It is a $100/yr service, but if your investment does what you’re hoping it will, this will be a drop in the bucket. This tracks all of your trades throughout the year, and gives you a FIFO (or whatever accounting method you want to use) total gains/losses tax report with the itemized trade information.
- Exchanges to Consider - Just a handful of “more well known” exchanges
- Coinbase
- Coinbase Pro - more complicated, but lower fees
- Uphold
- Binance.us
- Kraken
- Bitrue - Lots of Altcoins. Smaller exchange could mean greater risk.
- Ledger Nano S / Ledger Live App - I would recommend storing no more than 90% of your crypto on the exchanges. I would recommend cold storage on a Ledger Nano S. The ledger nano S is like a hard drive that holds the keys to your crypto. Your crypto will never leave the blockchain, but the keys to your crypto are either stored on the exchange or on your ledger nano s. Think of it like parking your car then either giving your keys to the valet, or keeping them in your possession. Which makes you feel more secure? There are pros and cons to both. Leaving them on the exchange means the exchange can be hacked, or they can go out of business and not make you whole with your assets. Keeping them in your possession means your ledger is at risk of theft or loss due to fire/water damage/natural disaster, etc. There is a way to backup your ledger nano S, using a 20 word security seed. If you do this, that seed should not be written on paper, it should be etched onto a steel plate (find them on amazon) and stores somewhere separate from your ledger nano. I know all of this sounds archaic - welcome to being early to the technology party. As this technology matures, financial institutions will offer crypto custody services, where they store your crypto for you and insure it. Keep in mind, there is still some degree of risk in this. Some would say, “not your keys, not your crypto”... aka, he who holds the keys, can decide not to give you your assets. Again, does this sound archaic? Well there is a technology solution in the works for that too. It is called a multi-signature smart contract. Aka, if the custody provider is holding your assets, they cannot steal your assets without your digital signature. This means they are storing your assets, but you don't have the risk of them being confiscated.
- Crypto Dedicated Bank Accounts - Keep in mind, crypto is a technology that is disruptive to the existing banking paradigm. Some banks are not keen on this, and they may try to make your life miserable if they know you are using cryptocurrencies. In the 2017 bull run, some people withdrew their funds from their crypto exchange accounts into their Chase, Wells Fargo, etc. bank accounts, and their banks froze and closed their accounts. Imagine this happened to the account where all of your auto pay accounts and direct deposit with your employer are set up. This would create a massive hassle. I would recommend opening a bank account with a crypto friendly bank. Some examples of crypto friendly banks are USAA, Ally, Simple, Marcus (Goldman Sachs). Note, if you currently bank with USAA, choose a different bank for your crypto funds to be withdrawn to.
- Since writing this paragraph, Kraken has been named as the first Crypto Exchange to be awarded a US Bank Charter. Just something of note.
Tax-Free Crypto Investing
Want to avoid all of the tax and custody headaches I just spoke about?
https://cointelegraph.com/news/could-tax-free-bitcoin-be-one-of-2020s-hottest-trends
https://m.benzinga.com/article/16537548
Gains made in a Roth IRA are tax-free as long as no funds are removed until the age of 59 ½. Funds can still be traded within the IRA from crypto to US Dollars.
For example, you could open an account with $1,000 and convert that all to XRP. If XRP goes to $0, you just lost $1,000. If it does what it did in 2018 and goes up by 50,000%, you just bought a house. $1,000 x 500 = $500,000. That $500,000 can then be traded back to US Dollars and either held in dollars, or traded into Gold. It can also be transferred from your iTrustCapital IRA to another IRA broker so that you can reinvest that $500,000 into stocks, bonds, ETFs, etc. All of these actions would be non-taxable as long as you do not make any withdrawal until age 59 ½. If you’re sitting on a $500,000 IRA, you may even decide it is worth it to withdraw some before age 60, meaning you would pay your 25% tax plus 10% penalty. Or you could continue to live off of your employer salary, knowing full well that your retirement account just took a massive dose of adrenaline. There is still risk, like with any investment, however the risk reward ratio of risk $1,000 to potentially earn $500,000 is difficult to ignore.
As far as custody goes, are you afraid it’s a big scam and iTrust will run away with your $1,000? iTrustCapitol does not actually custody your $1,000. At no point do they ever even touch your $1,000. Your $1,000 check is sent to Sunwest Trust Inc, a self-directed IRA custodian who has been in business for over two decades. Your crypto assets will be costodied by Curv, an Institutional Grade Digital Asset Custodian. Custodians like Curv are the future of digital assets and represent the future of banking technology.
(web page screenshots on next page)
If you are intrested in Tax Free Crypto Investing with iTrustCapital, please consider using my referral link below. It rewards each of us with $30 in value. Feel free to reach out to me with questions regarding investing with iTrust.
PS. I am personally using this platform and give it high ratings so far.
Customer Referral Program:
Invite your friends and family to create an account with your referral code and both of you will get one month of account fees waived. Save ~$30 each.
Your Referral Code : ghr1zr
Your Referral Link : https://www.itrustcapital.com?referralcode=ghr1zr
Simulated Cash Out Strategy:
NOT INVESTMENT ADVICE! I’M NOT A FINANCIAL ADVISOR!
Cash out a percentage of your holdings at certain targets. This allows you to keep skin in the game for further gains, while consistently taking profits off the table.
Example 1: Continuously Increasing % Withdrawn
Note the “cumulative” withdrawn column is cumulative. So the $1,082 USD you’ve realized at your $2 exit point includes the $298 and $100 from your last two exit points.
Example 2: Rebalancing Portfolio to 50/50 After Reaching 1st “Price Target”
This example identifies $32 and $128 as “price targets”, based on the Trading View Technical Analysis depicted in “The Charts” section above. This strategy has the holder cashing out larger amounts sooner than in Example 1. It is “safer” for a holder who is not willing to risk XRP reaching prices above $100. This strategy has % Withdrawn increasing each time XRP prices doubles, until XRP hits the first “target” of $32. At $32, the XRP to Cash portfolio is balanced to 50/50. Each time XRP doubles, the XRP to Cash portfolio is again rebalanced to 50/50. This strategy may be better suited for someone who believes in XRPs potential to reach prices far beyond $100.
Note: Cashing out at the early price targets ($1,2,4,etc.) also enables dip buying with profits. Keep in mind there are tax consequences to doing this. Set aside funds to pay taxes before reinvesting profits, just in case the market drops after you have re-invested your profits.
Additionally, @BCBacker has mentioned his use of a zone target method. This would mean, instead of assuming all the risk that XRP will move 100% from $8 to $16, you can take the 20%
that you planned to cash out at $16, and divide it up into 4 Buy Targets. For example, cash out 5% at targets at 70% ($13.60), 80% ($14.40), 90% ($15.20), 100% ($16). These 4 targets
total the 20% you planned to cash out at $16, but help protect you from the market dropping significantly just before it reaches one of your target prices. This strategy does have
a small negative impact on Total Cumulative $ Withdrawn. You can apply this strategy at each price target. This effectively gives you four times as many price targets, with less risk between targets. It’s a bit more complicated to manage but likely safer against market downturns.
Bitcoin
Did he really make it this far in a "Crypto Starter Kit" with so few mentions of Bitcoin?
I believe Bitcoin will succeed as a digital store of value - Digital Gold. I believe Bitcoin still has some obstacles to overcome, mainly it's environmental impact and scalability. Having said that, I believe there are enough "big players" invested that it will be “forced” to succeed (“big players” never lose), though I expect it to evolve from what it is today, to address the two big issues I mentioned above.
Technical analysis July 23, 2021
https://twitter.com/misconfig_exe/status/1408544229173858305?s=19
Fidelity
https://twitter.com/DigitalAssets/status/1310635793858342915?s=19
Microstrategy
https://www.google.com/amp/s/www.coindesk.com/microstrategy-buys-more-bitcoin%3famp=1
Jim Cramer
At about 40 mins, Cramer boards the crypto train. You know once Cramer is on board, he's going to turn around and start selling the American people on CNBC. At the 1hr mark of that video, Cramer literally says, "I'm gonna take action. And I'm gonna take action right after this video"
Tom Lee - CryptoCompare Digital Asset Summit
Bitcoin Market Cycles
https://hackernoon.com/marketcycle-4e5407d0c68
Bitcoin Scarcity Visualization
https://www.blockchaincenter.net/bitcoin-supply/
Conclusion
Finally, I know a lot of the things I just mentioned sound daunting. Just remember, many cryptocurrencies increased by 20x - 500x last bull run. That is 2,000% and 50,000% respectively. No pain, no gain.
Crypto is highly volatile, it is not a get rich scheme. Invest only what you can afford to lose for 2-5 years, if not permanently. Many economists (including a yale one) have recommended everyone have at least 5% of their net worth allocated to crypto. That is a number that if lost forever, would be a loss, but not so significant that it ruins your life. That is also a number, that if it achieves 20x - 500x gains, would change your life forever.
Thanks for the shout-out DAI! @8:18 😉👌
Official DAI Title Announcement @21:12 😂👌
Every Army needs MEDEVAC support... I got the XRP Army covered!
