/biz/ - Business & Finance

Aside from all the shitcoins, lambos, women and coke, has /biz/ ever wondered about the meaning of life? If reality really is a simulation as some people say, then we don’t really have free will do we? We’re all just NPCs in someone’s MMORPG

I made my millions in cryptocurrencies in 2016 and cashed out everything. Yeah I know I missed out on x100 gains in 2017, but I don't really care about that. Anyway, at the time it was one of the most stressful experiences of my life. My bank basically thought I was doing something illegal like money laundering because I was just a normal college student before studying computer science. Despite lawyering up and hiring an accountancy firm, I was still visited by IRS agents and was forced to show them my entire life history. After several weeks of being anal probed by the government and banks I was finally allowed to withdraw my money. I was extremely lucky to only be taxed only on the capital gains and not income thanks to my accountant. Luckily I never made any transactions to buy illicit goods from the darknet with my crypto, otherwise I'm pretty sure I would be in prison right now...

Anyway, after that I opened several new bank accounts and stored about $250k in them so that they are all covered by the FDIC insurance scheme incase any bank goes bust. Then I diversified into real estate and started to earn 5 figure income through freeholds and rent. I also effectively gave away a couple of hundred grand to my parents, cousins, aunts and uncles to avoid potential resentment and envy. I don't really care what they do with the money but thankfully they were and still are grateful. Some even gave away the money to charity because they didn't need it. Honestly was surprised by the reaction, but I guess I can't complain.

Anyway, I eventually moved out of my parents and bought a small modest apartment in the city next to my college because I didn't want to show off my wealth.

First big mistake.

(1/3)

I made my millions in cryptocurrencies in 2016 and cashed out everything. Yeah I know I missed out on x100 gains in 2017, but I don't really care about that. Anyway, at the time it was one of the most stressful experiences of my life. My bank basically thought I was doing something illegal like money laundering because I was just a normal college student before studying computer science. Despite lawyering up and hiring an accountancy firm, I was still visited by IRS agents and was forced to show them my entire life history. After several weeks of being anal probed by the government and banks I was finally allowed to withdraw my money. I was extremely lucky to only be taxed only on the capital gains and not income thanks to my accountant. Luckily I never made any transactions to buy illicit goods from the darknet with my crypto, otherwise I'm pretty sure I would be in prison right now...

Anyway, after that I opened several new bank accounts and stored about $250k in them so that they are all covered by the FDIC insurance scheme incase any bank goes bust. Then I diversified into real estate and started to earn 5 figure income through freeholds and rent. I also effectively gave away a couple of hundred grand to my parents, cousins, aunts and uncles to avoid potential resentment and envy. I don't really care what they do with the money but thankfully they were and still are grateful. Some even gave away the money to charity because they didn't need it. Honestly was surprised by the reaction, but I guess I can't complain.

Anyway, I eventually moved out of my parents and bought a small modest apartment in the city next to my college because I didn't want to show off my wealth.

First big mistake.

(1/3)