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So did you learn nothing(https://news.ycombinator.com/item?id=16309263 https://news.ycombinator.com/item?id=16309263) from your post 2 years ago? If not, why s

So did you learn nothing(https://news.ycombinator.com/item?id=16309263 https://news.ycombinator.com/item?id=16309263) from your post 2 years ago? If not, why should we care now?

happytoexplain 6y ago
Aside from the unnecessarily spiteful tone of this post, this should indeed serve as a wake-up call. OP, you need to do both of: 1. Don't risk money that would "ruin" you if lost. 2. Realize that there is no such thing as really being "ruined", on a personal level. You'll survive, both literally and, eventually, financially - and you'll have a lesson.
panarky 6y ago
I would advise anyone with a get-rich-quick mindset to stay away from crypto. In the short term, people with this mindset can lose a lot. The get-rich-quick cohort is too quick to sell. They sell after 2x or 3x to "lock in gains" and then sit on the sidelines for the 20x. And then they buy at the top when the hype is at max volume. Then sell after a 50% drawdown to protect what remains of their capital. However, those with extraordinary patience can do very well. Buy the leaders that are technically sound, with high decentralization, widely accepted with deep liquidity. Then withdraw it offline, out of exchanges, to a hardware wallet. Stop checking the price every five minutes. Maybe once a quarter check the market, read the news, and ensure you remember your pin or seed and that your tokens are still there. Never trade. When it doubles or triples, don't sell. When it drops 30% or 70%, don't sell. Just hold 5 or 10 years. I've never been a fan of the centralized Ripple model, but if I was in your place, I'd examine my motivations. If I need the money now, if I'm looking for a quick buck, then I'd sell to stop the stress. But if I can take a very long-term perspective, then I'd trade what's left for BTC or ETH and salt it away offline until 2026+ and see what happens.
- 3545345345 6y ago
  None of these coins do anything or have any widespread adoption beyond being a speculative collectable. BTC at least once functioned as an alternative currency, accepted by Steam and Dell, among others. But it got too expensive and took too long to process, so most merchants that accepted it dropped it.
ricc 6y ago
Now this is suspicious... Looks like OP is just trolling...

So did you learn nothing(https://news.ycombinator.com/item?id=16309263 https://news.ycombinator.com/item?id=16309263) from your post 2 years ago? If not, why should we care now?

happytoexplain 6y ago

Aside from the unnecessarily spiteful tone of this post, this should indeed serve as a wake-up call. OP, you need to do both of: 1. Don't risk money that would "ruin" you if lost. 2. Realize that there is no such thing as really being "ruined", on a personal level. You'll survive, both literally and, eventually, financially - and you'll have a lesson.

panarky 6y ago

I would advise anyone with a get-rich-quick mindset to stay away from crypto. In the short term, people with this mindset can lose a lot. The get-rich-quick cohort is too quick to sell. They sell after 2x or 3x to "lock in gains" and then sit on the sidelines for the 20x. And then they buy at the top when the hype is at max volume. Then sell after a 50% drawdown to protect what remains of their capital. However, those with extraordinary patience can do very well. Buy the leaders that are technically sound, with high decentralization, widely accepted with deep liquidity. Then withdraw it offline, out of exchanges, to a hardware wallet. Stop checking the price every five minutes. Maybe once a quarter check the market, read the news, and ensure you remember your pin or seed and that your tokens are still there. Never trade. When it doubles or triples, don't sell. When it drops 30% or 70%, don't sell. Just hold 5 or 10 years. I've never been a fan of the centralized Ripple model, but if I was in your place, I'd examine my motivations. If I need the money now, if I'm looking for a quick buck, then I'd sell to stop the stress. But if I can take a very long-term perspective, then I'd trade what's left for BTC or ETH and salt it away offline until 2026+ and see what happens.

3545345345 6y ago
None of these coins do anything or have any widespread adoption beyond being a speculative collectable. BTC at least once functioned as an alternative currency, accepted by Steam and Dell, among others. But it got too expensive and took too long to process, so most merchants that accepted it dropped it.

ricc 6y ago

Now this is suspicious... Looks like OP is just trolling...