NEET financial advice / crypto

BinaryMan
BinaryMan

tl;dr: Should I cash out my ETH and buy a house?

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?

Pic unrelated but fun.

Attached: op.jpg (2.79 MB, 2999x5588)

ZeroReborn
ZeroReborn

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

Boy_vs_Girl
Boy_vs_Girl

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

Inmate
Inmate

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.

Soft_member
Soft_member

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.)

LuckyDusty
LuckyDusty

gibs me dat jailhouse pucci

FastChef
FastChef

nice one user

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Ignoramus
Ignoramus

Rolleroo

idontknow
idontknow

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.

Poker_Star
Poker_Star

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.

Carnalpleasure
Carnalpleasure

Tldr; rollong

LuckyDusty
LuckyDusty

no niggers pls

BinaryMan
BinaryMan

roll

5mileys
5mileys

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.

Playboyize
Playboyize

roll

Methshot
Methshot

Gimme 37-39

CouchChiller
CouchChiller

roll

Evil_kitten
Evil_kitten

Also rollin

MPmaster
MPmaster

I got 23-24 last thread and we were already planning our wedding. I want her again!

Ignoramus
Ignoramus

crypto is a scam

Fried_Sushi
Fried_Sushi

I have around 300 ETH, not even close to considering cashing out now. Although I am upset about how much I lost recently.

happy_sad
happy_sad

This is actually sensible advice...but OP wants to move out asap

Methnerd
Methnerd

Yeah I'd hold. Also one good ICO and you can quintuple your money. Need to wait for boom market again tho

CouchChiller
CouchChiller

I'm just here for my waifu

Need_TLC
Need_TLC

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.

happy_sad
happy_sad

rolling for chenelle or jillian

Methshot
Methshot

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Evilember
Evilember

Also one good ICO and you can quintuple your money
It's not 2016/2017 anymore

SomethingNew
SomethingNew

3DPD THOTS BEGONE
REEEEEE

MPmaster
MPmaster

rollin'

w8t4u
w8t4u

nice
if only i had 5k to spare

Fuzzy_Logic
Fuzzy_Logic

ok

idontknow
idontknow

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.

Flameblow
Flameblow

fuck us for not selling in dec/jan

CodeBuns
CodeBuns

re-roll

CouchChiller
CouchChiller

Honestly, I'm bullish on the market and would hold. That's what I'm doing, anyway. Let it appreciate another year.

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FastChef
FastChef

rolling for orange jumpsuit pageant

Nojokur
Nojokur

russel

Gigastrength
Gigastrength

Please roll Rebekah and not Ronald

Evil_kitten
Evil_kitten

r-r-roll

Firespawn
Firespawn

post your portfolio brah

ZeroReborn
ZeroReborn

rolling

Sharpcharm
Sharpcharm

Rolling for russell