Reposting this for the evening crowd: I am a NEET. I lucked into (with hard work) what is now worth $100k in ETH this year (tl;dr: CryptoKitties). At its peak it was worth over 200k but I stupidly thought it would go up forever and I also didn't fully understand the tax situation so I was afraid to cash out, so I held. Now I realize that living in a modest paid off home in my local area may be a far better option than holding this volatile shit and worrying about the money I never realized is just sunk cost fallacy or something similar.
The cheapest non-beater house I see is listed for $65k. It's clearly a fixer upper but it's also very nice and doesn't appear to have major issues.
Should I cash out now, attempt to buy a cheap house, and be relatively set? I can easily get a minimum wage job and make up the utilities and even rent out the second bedroom. I could AirBnB it or whatever to help with bills. I assume property tax will run me a few thousand a year, and maintenance and improvements will cost something, but if it comes down to it I can probably get a loan from a family member because they'll be happy to see that I'm not a NEET anymore.
tl;dr: What should I do with this money in your opinions, kind Veeky Forumsraelis? What are the downsides? Should I stay in crypto and pray? Is there another option?
Hey senpai I'm the loser that rolled a 00 earlier and didnt bother to read the post I think you should share what country, I can hardly imagine a 65k house in mine btw how does one make 100k off cryptokitties, how much did you have before that? I also lucked into 300k, now 600k with ath of 1mil, I'm waiting for 2mil which is about what I need to be set for life I also looked into airbnb but I dont have the balls, search airbnb horror histories to see what I mean, there's so much people out there that are scum and you'd be opening your home to them, also they won't let you put a race filter i.e. only whites allowed
>I think you should share what country, I can hardly imagine a 65k house in mine US >btw how does one make 100k off cryptokitties, how much did you have before that? Just good at trading and spent most of my life playing video games so it worked out that way. Right place at the right time
>I also looked into airbnb but I dont have the balls, search airbnb horror histories to see what I mean, there's so much people out there that are scum and you'd be opening your home to them, also they won't let you put a race filter i.e. only whites allowed I figured I'd just buy a house and rent a room, you can discriminate a lot more when someone is a roommate
the best time to have done this was when ETH was 1.3k. if you don't care about what ETH will be in a year, just go for it. a house is a tangible asset.
you made it OP.
>the best time to have done this was when ETH was 1.3k Yeah, no kidding. I was just high on the high price at that point. Obviously I should have cashed out half then rather than cashing it all out now, but hindsight is 20-20. (Although it was fucking obvious at the time, too, heh.)
Hold onto to it for at least 2 more years. It should peak over $1000 at least once by then. Hell sell it at $800. Get a job for now and forget about it.
I don't understand what you want. It's your money, if you want a house you can buy it. You're going to need to find another source of income because 100k is not enough to setting you up for life, you seem to understand that. Again, it's your money, you can spend it, save it or try to use it to make more, you need to decide what life you want to live first. The one thing I will say is that loans from family usually end poorly other sources of credit may be more expensive but the contract is clearer, it can be complicated to find while unemployed but you should have some extra to keep you afloat at the start.
no niggers pls
Like most people in this thread are saying, buy a house because it's a tangible asset and if you buy it in a neighborhood that isn't Camden or Detroit, odds are it'll stay relatively above water. Become a landlord.
I got 23-24 last thread and we were already planning our wedding. I want her again!
crypto is a scam
I have around 300 ETH, not even close to considering cashing out now. Although I am upset about how much I lost recently.
This is actually sensible advice...but OP wants to move out asap
Yeah I'd hold. Also one good ICO and you can quintuple your money. Need to wait for boom market again tho
I'm just here for my waifu
Why the fuck would you hold crypto over a house? 99.9% of people would prefer to own a house over owning some meme coins.
>Also one good ICO and you can quintuple your money It's not 2016/2017 anymore
3DPD THOTS BEGONE REEEEEE
nice if only i had 5k to spare
I'm in a similar position. I'm not touching my folio because I believe in crypto long term and I'm not neet. I admit it would have been pretty sweet to time december perfectly and walk away with a house paid in cash, but I have no regrets. Still considering buying a house and getting a mortgage though, hoping that sometime in the future I can pay it off quickly, that's if it's 1/4 or less of my portfolio.
fuck us for not selling in dec/jan
Honestly, I'm bullish on the market and would hold. That's what I'm doing, anyway. Let it appreciate another year.