So having you money locked up in coins who's value continues to go up is great and all but what is your exit strategy? It's not like these coins are paying dividends or you can live off of them like you can with certain stocks.
So when you finally say "ok now I want my money back"? What metrics do you use to measure how close you are getting to that point?
>bump 4 interest
Once you have > 1 mil, take out 100k per year to live on, and let the rest ride. Obviously.
when I'm buying something that's like 2k plus, I will sell some coins for btc, send btc to coinbase, then sell btc and have money deposited to my bank account.
If I'm going out for a night and want like $500 I'll hit a btc atm and just pay the 10% fee plus 5% exchange rate bs.
And how do you report that to the IRS
>So when you finally say "ok now I want my money back"?
the plan is to hold until we're using crypto instead of fiat
imo no point cashing out until you have enough that you can never work again
there are so many uninformed virgin faggot chicken tendies eating niggers on this forum I feel like I'm on Veeky Forums...
oh..
...
...
sauce?
i own 1/500.000 of all Bitcoin. I am not going to give them my stake in the new currency
Stratis
My etheroll DICE tokens will pay me dividends of about $20,000 worth of ETH every year at current projections
Im doing this. But with 500k MYR (local currency)
BLACKED (srs)
welp, I remember now. It's Elsa Jean. I thought that she looked familiar. Thanks bros
>grow my $50k in crypto to $5 million (should happen by the end of the year easily)
>take out $1.5 million
>begrudgingly pay the tax man
>buy a $1 million apartment in new york city
>have $50 million in crypto by the end of next year
>take out another million to buy a country house and build a runway
>take out half a million to buy a small private plane
>learn to fly
>spend the rest of my days flying around the country for fun
>what's your take on what to invest and why?
>mfw normies buy lottery tickets so they can dream about 'making it' even though their odds are hundreds of millions to one
>mfw if they had just put that money into crypto they would have made it guaranteed
You'll probably live more than 10 years after you reach 1 mil, what then?
Maintanance costs will kill you when bear market comes.
as capital gains, how else would I report it?
and yet normies think "at least i got a chance with lottery tickets"
>things that if posted in another board would be completely unbelievable but since its on biz and about shitcoins its probably true
Take out only as little as you need. Fiat currency is losing its value, the central banks are losing control of the economies and the currency they issue. Cryptocurrencies may be a leading indicator for hyperinflation. Gold and silver usually are but the prices have been suppressed with paper derivatives.
If you pull money out make sure you buy hard assets
BURST assets like burstocean pay great dividends
When the global recession hits people will be looking for an exit strategy... not from crypto but away from fiat. Going into crypto IS the exit strategy.
This guy fucks
how much dice is that?
for any third worlder with no income tax
>localbitcoin.com
for americans, just make enough to move to a good 2nd world country with no income tax.
>>>/reddit/
>Whats the exit strat?
Crypto is the exit strategy bro.
What part of inflation dont u understand?
These guys get it
Yeah but when do you think this level inflation will hit that people will need to make the shift? In the meantime I need to continue being a wageslave for these stupid student loans. It's aweful.
in the next recession
just 5 years ago no one used the itnernet for elections and with trump we memeed one into office.
>In the meantime I need to continue being a wageslave for these stupid student loans. It's aweful.
I know that feel dude
Hang in there, hold your cryptos and when the storm passes we will live like kings
>You'll probably live more than 10 years after you reach 1 mil, what then?
He said let it ride numbnuts. The return on crypto is easily enough to live off of the interest of $900,000 your whole life.
When crypto reaches 500 billion market cap things will probably go parabolic insane.
Hope you have invested an amount in decent crypto, not only memecoins.
you could live off 1% intrest if you had that much. so just throw 10% of your coins into poloniex lending and you are good
>just 5 years ago no one used the itnernet for elections and with trump we memeed one into office.
What about milions of Americans that doesn't know what Veeky Forums is and were simply fed up with democrats bullshit? Ever though about them?
>He said let it ride numbnuts.
Shit right, my bad.
>The return on crypto is easily enough to live off of the interest of $900,000 your whole life.
What makes you think it will stay that way? What would you do if bull market ends?
>What would you do if bull market ends?
if it truly ends for decades i would kms
im going to be dumb and give an honest answer
i have no idea
i put five grand in ETH months ago and now it's 30000 grand. that's not a life changing amount of money for me but it could pay off a chunk of my mortgage, a new car, a nice long vacation, five years of ROTH contributions
when i put that money in, i let it go, i assummed it was lost, there was one week where it micro crashed and my resolve wavered, but i held (hodled) and here i am with 600% gains in 3 months
so to answer your question, if ETH really is as important as people think it could possibly be, there is no logical reason to ever sell the ETH, it should be a lifetime investment, barring some GOX level calamity
so i have no exit strategy, holding for life. maybe it'll make me a millionaire, maybe i'll lose it all, in my heart it's the same
>have invested an amount in decent crypto, not only memecoins.
I can't afford much so I got:
ETH (my main investment)
BTC (just a little)
Sia
Ripple
Digibyte
I bought a few on a whim but I'm going to start doing a little more research into other altcoins with solid business plans & products.
Also bumping for interest.
This is my current portfolio.
The remaining money is in eth ~ 7k.
Im really bullish about RLC and UBQ.
Also, meme coins can give you exponential results in short time. I personally dont like investing in them.
When I hit $1mil I will take a quater out and buy some property.
Will any of you pull out Cypto and put it into traditional stocks?
lmao no
Obviously.
probably not me. it would require learning a whole new game, and once the crypto run is over -- assuming it goes anything like we're hoping -- im eager to move on, not spend my days watching a different set of markets.
I've got 50k to invest. Are you doing low sat high volume coin trading?
holding should be enough for 10x
>cashing out
Game plan is: this IS the new cash.
Good money drives out bad.
>What would you do if bull market ends?
By the time this happens I'll probably have at least $1mil principle if not more and I can coast by on stocks.
if I suddenly had enough money to buy a house tomorrow, I'd take it all out through kraken and say fuck the banks and not get a loan.
But that's not going to happen.
I will have to get a loan, and probably I'd make more money with crypto gains than by paying the loan more quickly anyways. I'll keep as much as I can in crypto, until I can use it.
> It's not like these coins are paying dividend
Some do, but I understand your point. Once you sell, you ate your cake.
Its already hitting in a few countries, why do you think Venezuelans are going into crypto so hard?
Word, less capital gains tax that way, long term holdings instead of short.
About 7000
>It's not like these coins are paying dividends or you can live off of them like you can with certain stocks.
>what is staking
Oh, and here is my plan OP:
> Wait for stock market crash
> Crypto raises as hedge
> Sell crypto
> Buy stocks with my Bitcoin VISA card
> be rich as fuck
When I have acquired enough to stop working and use my safe-but-slow Forex strategy for the long term.