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Hello this is Matt on the moon Lambo Channel I'm going to share with you a Story that is a little bit crazy here's The headline from the Crypt basic Bitcoin traders's father liquidates $800,000 home to buy xrp that's right a Man sells his $800,000 home to put it into xrp now Here's the thing I'm obviously Pro xrp I Am Mr xrp Bull if I had to guess if this Is if this really happened if he's Really doing this and he puts his money Into xrp I I'm willing to bet that in at Some unknown point in the future if it's Held sufficiently long that will prove To pay off like in a life-changing way That would be my forefun guess but There's another side to this can we talk About the other side too which is that This is crazy because there's such a Thing as unreasonable Risk you sold your home like Cryptocurrency I love xrp yes I you know Honestly I'm just being for real it if Held sufficiently long I'd be willing to Bet it'll be worth way more in the Future yes I believe that that is Probable but my God because think about It so like I've been in crypto over six Years you know I I believed even back Then that if I took my entire net worth And if I had from from then up to this Point only invested in cryptocurrency Which is not what I did because I
Believe diversification is rational Smart the right way to go when it comes To investing but if I D I even believed Back then if I put everything into Crypto because I believe that crypto is Going to be the best performing asset Clash for the next decade I say it today I was saying it back in 2017 if I had Done that yes uh knowing how history has Unfolded and I believed it back then I Would have an insane amount of money Right now Absolutely absurd I recognize that but Was I willing to take on that level of Risk no I took on way more risk than uh Many people would think is reasonable I Certainly did that but that's subjective But that's why for me like this is a Little out there even for me like I put In a fair bit like I put a to what me to Subjectively it's a ton of money into Xrp but whoa so look I'm going to run Through this I'm going to tell you Exactly what's known about this as well As another story along the same lines Having to do with investing in a maybe Not so responsible manner just in crypto In general and I would really love to Hear what your perspectives are and Because there's no perfect answer like Again it's totally subjective but my God I just well we'll get into it before we Go further though I do want to be clear I do not have a financial background of
Any kind I am not offering Financial Advice and you definitely should not buy Or sell anything because of anything I Say or right I'm just an Enthusiast who Enjoy is making YouTube videos about Crypto related topics but just as a Hobby and just for fun all right into This we go and again I hope it works out For this guy I genuinely do and I could I if I had to guess for fun probably What if you hold a sufficient amount of Time but whoa Anyway a prominent Bitcoin Trader Disclosed how his millionaire dad Liquidated his house for $800,000 to acquire xrp urging the Community to draw inspiration from the Move recently a Bitcoin day trader with The ex user named Miles G investments Called attention to a bold move his Father undertook regarding xrp that Illustrates their confidence in the Future potential of Xrp specifically miles disclosed that His dad sold his residential property For $800,000 and allocated the proceeds to Purchase xrp and I'll pause to note here Although it was sold for that dollar Amount um I it's not said anywhere that I've seen anyway whether or not there Was uh a mortgage on this home so I Don't know that that means $800,000 is directly going in I mean if
You took out the mortgage like a year or Two ago there's not going to be that Much equity in the home so don't know For sure but we're led to believe that It's a very large dollar figure going in Let's just say that anyway pce continues Furthermore the Bitcoin Trader Underscored his father's extensive Experience in the investment landscape In particular he revealed that his Father has been actively investing and Trading for over five decades per the Revelation the veteran trader Acknowledged that his audacious decision To sell a residential property for xrp Would be the most consequential home run Of his career okay so I'll just pause to Say this if you're going to do something As ridiculous in insanely risky is this And that's my my opinion I think it's Ridiculously risky doing something like That unless this is a tiny percentage of His net worth and he's like oh this is My little This Is My Summer home I don't Care about this I've got $30 million BL Okay fine that's different we're not led To believe that is indeed the case even If the guy's wealthy right but uh I I Would just say if if someone's going to Do something like this it better be the Case that you're not putting into a Freaking meme coin you know what I'm Saying if you're trying to find a micro Cap that's going to quote unquote make
It so at least at least if the guy's Doing this at least it's a large cap Coin xrp reputable actual utility been Around functioning for over a decade Tried and true at least it's Xrp you know because my God if it were Anything that's not a large cap I'd just Be like oh I'd be panicking for that Person H and so here's the actual post For Miles D Investments my dad sold his $800,000 house to buy xrp he's been Investing and trading for over 50 plus Years he said this is going to to be the Biggest home run he's ever made don't Fade my dad he got into Bitcoin at $7,000 and eth at $200 okay so folks fair enough and if if The guy's really doing this like that Takes some guts you got to be real bold To do something like That Uh it still just seems like a bit too Out there again it's subjective it's From person to person it just depends But at least it's xrp where it's Reasonable to suppose that it's probably Going to be here for a pretty damn long Time and that it's been so suppressed For so long that when it finally goes it Actually will melt faces so the guy does Seem to believe that is indeed the case Like I think the confidence in xrp I Think obviously that's properly placed For sure so nobody twist my words here
Like I am not doubting that it's just Like even though like like I said at the Outside of the video Even though I Believed in 2017 that what would Financially probably result in the best Uh end for me would just be to take all Of my net worth and everything I'm going To earn there from that point just put It in the crypto xrp bunch of other Stuff and do nothing but that and I'll Probably be better off but did I think That was wise no it wasn't wise and now You could look back in hindsight and see Like well you idiot you should have done Well that's dumb as hell though it's Just as stupid as saying oh well you Know I I'm an idiot for not picking last Week's winning lottery numbers it's just As stupid as that because you don't have The power to see into the future you Don't know for sure and risk is a very Very very real thing here so even though I would have been right in 2017 to put Everything into crypto and then i' just Be like yeah just you Know that is true that is true and I Thought that was true back then it Doesn't mean I'm willing to assume that Risk though totally different things I Think most of you get that and there's Going to be like five people that watch This video that are just not going to Get it and they're just just going to Disagree and just that's fine have fun
In the comment section have fun down There it's a good time for all have some Conversations but this isn't the only Example of something like this here's a Headline this one's just I'm just Highlighting another example for fun Because there have been a lot of people That have made some silly ass really Risky decisions and it doesn't always Pan out here's an article from the Sun Tanks a million T an k s tanks a million I lost my life savings on crypto and Even took out 30,000 pound loan to buy More I'd be a millionaire if I just kept It a Trader has allegedly lost their Entire life savings and took out 30,000 In loans to buy more crypto after the Currency Market plummeted now pause it Recognize here this article is from December 14th 2021 you know that Bitcoin topped in November that year 2021 so that's a thing I don't know let Let me just go through this uh users Were asked to recount their horror Stories of investing in the volatile Crypto market and a bid to expose its Dangers it's the law of nature that There can't be astronomical gains Without astronomical losses so what Gives the thread starts let's be a Little bit more transparent in the space And also educate the youngsters newbies And Boomers that it is not all sunshine
And Roses flamy Lamy chimed in claiming They invested their entire savings into Crypto in November 2017 right before the Peak of the 20177 2018 Bull Run and Watched it double before the market Crashed the Reddit user who described Themselves as a person who doesn't Normally take Financial risks claimed They were gripped by crypto and kept on Plowing money in I guess it's plowing Money in p l o u g h i n g i don't is is That like a is that a British UK thing Like what I'm not familiar with this Word anyway um and by the way as far as It being gripping yes exit liquidity Comes in which is just new people come In that's the exit liquidity this is What happens it's human nature humans Are not going to stop having human Nature we don't have to worry about this It is part of my investment strategy That there will always be people that Are willing to fomo in buy tops all that Crap and yeah I'm going to bet against Them they're betting against me and We're all adults that's how it works and I will view them as my exit liquidity And I'll think that they're making poor Decisions and they will think that They're making the right decision and They'll think that I'm wrong if I'm Selling at that point fine we're just Betting against each other we'll see Who's right but cycle after cycle after
Cycle shows what happens here but yes People get gripped by this and yes it's Going to be coming back like in terms of Pure Euphoria that's my supposition Anyway peace continues I actually took Out two loans $20,000 which is 15,000 Each time which I used to buy more on The way down throughout 2018 but it all Kept dropping they wrote eventually my Portfolio value was around 5% of the Entire money I'd put into it including Loan money in December 2018 right as the Market was bottoming out I basically Capitulated and said I'm already down This much may as well take some risks And ended up losing everything in a Series of margin traded margin trades With leverage oh my God Folks I Just I I don't wish to some people but They're doing it to themselves like take Taking first of all taking out a loan to Jump into the most volatile acid class On the planet bad idea I don't think That's responsible I don't think that's A good idea lots of people have done it In history a lot of people end up just Getting destroyed by it for some people It has worked I think it's a horrendous Idea and then once you're down to be Like well let's let's make even more Terrible decisions let's use Leverage What I don't say it's it's it's Not exclusively like I'm not trying to
Just make fun of this person but let it Be a lesson Legend like Le you're Talking about the most volatile asset Class on the entire planet which is the Appeal of it that's how you get in Crazy Multiplier effect for coins when when The Market's in Euphoria it goes that's The point and I'm sorry the hundreds or Thousands of percent gains that's not Enough you need to apply leverage to it Are you freaking insane that is absurd Completely absurd but that is what Happened here peace continues margin Trading is incredibly risky it's when an Investor buys more stock than they can Afford and you could end up having to Pay back a lot more than you put in it Is also never advisable to take out a Loan to invest with you should only look At investing if you have cash savings And never invest more than you can Afford okay so pause note that is Sage Wisdom there you will do whatever the Hell you want but my God I I have only Put money into crypto that I'm willing To lose in case I'm wrong I've always Acknowledged I could be wrong from the Very beginning despite my very strong Convictions about the crypto asset class And specifically xrp but that that's Part of the reason I didn't put Everything I have and destroy my life Because if I'm wrong it's just you know Starting over at that age like no I mean
Yeah I was 34 and I jumped into crypto I'm 40 now that would be that would be Devastating just just Like my entire retirement put it all on Red like come on man like That's no no no no I'm not the type that Would ever be willing to do something as Irresponsible as that there's just not a Freaking chance because what I have now Even though though I haven't cashed out Into USD that already is incredibly Meaningful and life-changing to me and I Did it without putting at risk my Retirement separate from that and so yes This could be way greater than my Retirement especially um after like way More way more consequential to me by the Time this is all said and done whenever I do finally decide to sell great if That happen like that's that's kind of What you hope for right but man I I just I always needed to make sure that in Case I'm wrong about this everything Else is still Okay anyway peace continues flamy Lamy Continued in the end I lost it all held Zero crypto had very little money left In the bank and had committed to Spending the next 2.5 years making loone Repayments that I had nothing to show For they claimed they spent the next Couple of years making repayments on Loans that was roughly equal to renting A small apartment there have been lots
Of warnings about investing in Cryptocurrencies like traditional Investments they are not regulated and That means if something goes wrong you Have no way to make a complaint I'm not Even going to get into that argument for The purpose of the video about the Regulatory state of things especially Not back in 2021 when this article came Out but Anyway um also the markets are extremely Volatile and you should be prepared to Lose all your money but to flamy Lamey Losing his life savings wasn't the worst Aspect of his foray into crypto trading And check this out folks the worst part The crypto that I took out those loans To buy ended up going 100x from the Bottom in the more recent crypto bull Run this year and I fully intended to Buy more of it while it was down but I Couldn't buy anywhere near as much as I Liked because I was still making loan Repayments folks think about this if he Hadn't made these terrible decisions I Mean the loan in the first place is Absurd but the leverage on top of That that's like 100x from there if That's true That that is equivalent to winning the Lottery are you kidding me that is Like a string of mistakes a string of Mistakes I don't know or or maybe maybe It would have been a little bit less
Because like he said it was higher Before he bought it and that's when he Put the bigger dollar figures in so it Went down but from the bottom still a 100x that would have been something my God it still would have been incredibly Appealing and he didn't get that so Either Way and and he didn't have the money to Dollar cost average so check this out if I'd never taken out the those loans and Instead just dollar cost averaging at Regular intervals while the market was Down which I fully intended to do I'd be A multi-millionaire now how's that for a Horror story that's his quote that's Right if you're responsible and you Don't get too greedy and think that the Thousands of percentage gains that are Possible in crypto that's not enough you Got to up up the ante throw some Leverage on that we need some Leverage on that now right on that if you just maybe don't do that be A sane person and then just dollar cost A yes that makes way more sense you put A reasonable amount in and then then if You lose it you lose it in case you're Wrong or something goes wrong with Whatever cryptocurrencies you're Purchasing it's a rug Pole or there's a Hole in the code and it actually just Glitches out and then find out it's not Useful it all goes here just in case and
So you just put in what you're willing To lose and buy throughout bare markets Yes that's how you get life-changing Wealth in crypto it is not more complex Than that it really isn't it's not about Getting in and out of positions I know This firsthand I've been doing it for Over six years there's a reason I don't Have a to sell well first of all I'm not In a TA but even if I were like the Truth is for the typical person it's Better to dollar cost average and then Just sit on it like if I sold the course That would that's it I'm giving it to You for free that's you buy stuff if you Believe in it and then you don't touch It until it's you're enticed to sell That there that's the course you got an A on it good job it's Free oh my God this is just how it is this is what People do it's silly AF is what it is so I hope that with the guy who sold his House to buy a metric f word ton of xrp I do hope it pans out very genuinely Mean that let me know what you think Please in the comment section below oh Sorry cough comes right at the end of The video you're welcome for me turning Right away from the the Microphone I'm not a financial adviser You should not buy your sell anything Because of anything I say or right that Would be a very very very bad idea until
Next time to the Moon Lambo
