/biz/ - Business & Finance

>>57824668
I spent the first year living off my credit card and making minimum payments out of money in my bank account, then the second year I started selling small amounts to cover expenses and maintain the credit card balance at near max. This is temporary of course, I just didn't want to sell bitcoin at $18k when I knew it would be worth $180k in a few years.

Long term I'll sell small amounts of my crypto stack to fund a frugal lifestyle in the range of $40k/yr, which is the amount you can sell without paying federal capital gains tax in the USA. I'll mainly keep my wealth in crypto, except I'm going to sell somewhere near the top this cycle with at least half my stack, and then buy back in somewhere lower for free extra bitcoin, and then ride out the rest of the bear market without worrying about it too much.

Look up some FIRE (Financially Independent Retired Early) blogs for example budgets and how people get by, and keep in mind that just because you're not waging, doesn't mean you can't hustle. I'm currently writing a book with plans for more, and if those get even slightly popular online that could be five figs coming in every year.

>>56586543
You think that now but once I made it I wound up spending all my time traveling (mainly to art museums). I was going to write a VN, write books, start businesses, etc... but damn I mean I already HAVE the money, so I just visited family for a bit and then hit the road.

Thankfully I'm starting to run out of art museums to visit so my next autistic quest will be dating as many women as possible until I find one to wife. Like, I think I can get up to 5 dates a day if I put my mind to it.

>>55748961

It doesn't really matter that much what they choose to back it with. Crypto and Gold are both equally useless. The question is can they convince the FX markets and other central banks to treat their currency as well backed by their assets. Gonna be a bit tricky as their counterparts clearly prefer gold but I guess it's better than nothing.

The realistic answer for why they might do that is: they've been secretly leasing out fort knox gold for years to suppress the gold price and prop up the dollar vs gold and other commodities, because they're short sighted retards who quintuple down on stupid plans rather than ever admitting error or changing course. See also: the Ukraine war 20 years in the making, brought to you by a bunch of East Euro diaspora psychos who would rather die in nuclear hellfire than get the fuck over their hatred of Russians.

Anyways, if countries start using gold for explicit currency backing again, they'll have to try to compete, and they can't use gold cause they sold it all to BRICS like retards so... they'll try a hail mary and back the dollar with some "digital gold" bullshit they made up after foreigners stopped buying their bonds and they realized the game was nearly over and they were cornered. Pretty clever attempt at digital alchemy I suppose, but like I said none of the big fish are really biting. Everybody who matters just wants to go back to gold.

Haha, whoopsie doodles... I wasn't supposed to say that last part, it's supposed to be a big secret. Forget I said anything.

>>55375782

Eventually yes.

Word of warning however: SPUT will be forced to sell by regulators if the price really runs up. Sell the instant the utilities go crying to the Feds.

>>54730086

Sadly, that is what happens to you, when you disregard the most important variable: money supply. This entire generation of investors has only ever known 'line go up' conditions and they've got no idea it's always been because of the exponential growth of M2.

Well now M2 ain't growing, actually it's shrinking. This is how you get a debt default spiral in a fiat system. People do not understand just how hard the brakes are being slammed. Bullishness under these conditions shows understandable but severe ignorance of the fundamentals.

'Dollar is dying' talk being mainstream is exactly when you should go long dollars because obviously the US is going to throw one last crybaby tantrum and try to cause a DXY spike to crush the world economy, even if it hurts us just as much or more.

Starting to move into TUA.

>>54626099

TLT sold off hard halfway thru march 2020. Recession = money printer = inflation coming in 2 years = rates longer than 2y go UP. Somebody big figured it out then and bailed. Short end did not do the same thing. Beware longer duration.

post you're /smg/ track
https://www.youtube.com/watch?v=rPkCK51yTLE