/biz/ - Business & Finance

No clue but im happy locking in gains and hitting 7 figs next run in X years instead.

250k out, 100k in play

>>28572841
I’m thinking about cashing out too. Zoom out to the 6 month chart and it really seems like we are close to the top. There still probably will be one last spike but it isn’t worth trying to catch it.

>>28572841
I don't think we will ever see a bear market again. We'll still have impulse moves, but there are too many big investors getting into crypto for BTC to make a 90% drop again.

How do you cash out without getting fucked by uncle Sam

Is USDC stable during btc crash

>>28573126
I pay my taxes. Not a burger. My crypto taxes here in Europe are like 20%

you're no supposed to sell ever because crypto is the new new monayyyysssss lmao

>>28573126
Paying tax is better than losing 70% to the crash

>>28573165
>>28573473
is USDC stable and reliable during a crash or not faggots?

Another stimmy coming
Halfing not till August
Evictions and student loans not till September

I'm thinking I'll cash out in May if I haven't been wiped out

>>28572992
This is what I reckon too

>>28573517
Pls answer would rather shuffle funds to a crashproof coin and then reinvest at bottom than lose money cashing out and have to buy back in

>>28573642
>>28573517
Crypto-to-Crypto is a taxable event in my country. Cashing out to a stablecoin would be the same as cashing out to FIAT. I simply don't do such trades.

>>28573165
burger here. short term gain tax rate 46%

>>28573126
doesn't matter, you have to pay taxes on conversions too

Markets are in a huge bubble right now.
That gamestop mania was a classic sign.
Nobody can time the top, but when it ends the downdraft will be swift.
Just because "big investors" are in bitcoin, doesn't mean it can't drop 90%.

Yes. I had 30,000 chainlink. Sold at20 bucks and INSTEAD spread a ton of the 640000 between different tokens

>>28574328
Smart.

>>28574251
2 weeks ago portfolio broke 1 million, sold 250k
Portfolio broke 1 million ago, sold 300k

Portfolio was down to 600k, next day it is back to 700k

How long this can continue? I've already decided that I cash out some every time I hit 1 million in portfolio

>>28572841
You guys are paranoid as fuck. The bull run hasn't even started yet. Tesla just bought 1.5bil of BTC, we're already at 1.5 trillion total market cap when 1.0 trillion felt like it was just yesterday, Mastercard just announced they will be accepting crypto payments in their network this year, and this is just the start. More institutions will jump on board and you guys think it's over because of retarded "when ur mam mentions crypto it's time to sell!" memes.
Just hold for a while longer or you'll regret it.

>>28574381
Imagine not holding a make it stack of link though.

>>28574459
Good strategy desu. What do you reinvest your cash into?

>>28574554
Well I got scared, I admit it.

Now that I think of it again, the markets are bound for a heavy correction, but the bullish sentiment will continue towards end of this year.

It could be a crazy summer.

>>28574557
Already made it.

>>28572841
bro today is that start of the lunar new year. it is literally the year of the golden bull. you have until the end of september to tether your gains.

>>28574695
At the moment I am buying a small property. I live in rural Europe/rural side of the country, the houses are kinda cheap around here because it is basically middle of nowhere. Max $150k will get you a good house. I hope to exit crypto in the next 5 years, I don't like this kind of lifestyle.

I cash out shitcoin profits to Bitcoin. When I get fresh money from my job I put that directly into shitcoins. Rinse and repeat. Long term I only care about growing my BTC stack.

For how long did you "gamble"?
I guess bitcoin made you rich, right?

>>28573517
They dont know.

>>28575556
Never bought Bitcoin

Link at 10 cents, that's another story

>>28575205
Yeah I'm thinking of a similar approach. Are you thinking of just holding btc, even in a crash?

>>28574732
I definitely think we're due for a heavy correction soon as well, but yeah crypto is gonna be exploding this year.

>>28572972
this is my concern. my stupid ass has avoided crypto since 2018 and just came back a few days ago. noticing every shitcoin has been pumping since about september and all look primed for a dump. i'm just happy I caught GRT at the end

>>28575722
not the anon from before but yes. BTC in the long run is the shit that will grow into funds large enough to pay for boats/homes/your childrens' college/retirement

>>28572841
>doesn’t know when the bull market is going to end
>claims to have over 1 million dollars

Nice larp

>>28572841
How is that safe? Now you owe $200k on taxes and if youre lucky you can use the $300k to get back your inital stack.

>>28575205
not a bad strategy at all

>>28575722
Yes, my thesis is that the next Bitcoin crash won't be as significant as the last one. So it won't be worth it to try to time the top. When I need cash I'll just borrow against my BTC on blockfi and never sell, or realize a capital gain ever.

>>28573517
Yes

>>28572841
>>28572953
Imagine cashing out during this generational wealth building once in a lifetime opportunity

Yea. I started in Nov and I turned 2k into 10k. I know its peanuts but I did it through bluechips mostly - I’m a poor college student. Call me a pussy /biz/

>>28573689
So my question is how does anyone know? Say you have whatever balance in metamask and convert it to USDC. That’s not associated with your name or bank in any way. Couldn’t you leave it there or in a hardware wallet and slowly cash out over time? Relative newfag here so please correct me if I’m wrong

>>28574459
How much did you initially invest and how long ago?

>>28572992
This. We are unironically in the institutional phase of the "meme bubble chart". Anons just don't understand how blessed they have been with early leaks here on /biz about the future of finance and how crypto will play into it. Face it everyone, we are early money and the crypto index funds aren't even running yet. Get your moon suits on.

>>28573517
Yes. USDC is backed 1:1 by regularly-audited reserves. It's really just DAI that you have to worry about losing its peg during periods of high volatility.

>>28574554
My concern isn’t that we enter a bear market, those always happen eventually. My concern with institutions jumping in is the excess regulation that follows. Why wouldn’t megabanks try to buy up as much as possible to control supply? If they control supply they can lobby for laws and we’re back to the start where the average person gets fucked by the system.

>>28572841
>Corporate FOMO just getting started because of Tesla
>Insane QE with no end in sight
>Low interest rates leads to free money flowing into stocks/crypto, and JPOW proclaiming they'll be kept low

I've been in crypto since the bullrun in 2013 so obviously I have already cashed out enough to live a comfy life, but I still keep 30% of my net worth in crypto, and I have never been more bullish than I am right now. There will be large corrections, but this bullrun could last for many more months. Possibly even until Oct/Nov.

>>28572841
congrats I guess

>>28577809
Tesla bought a while ago. And institutions bought in 2017 too

>>28577809
These are my thoughts as well. I have to think that people are in disbelief by the current gains and think it's too good to be true, because they're still so used to the brutal bear market that lasted from 2018-2020. Right now reminds me of when BTC was $3k in early in 2017. A large part of it is that a lot of us knew this post-halving bull run was coming, and so we've had our bags packed since the bottom of the market. That colors our perceptions and we forget that most people who are/will be participating in this bull run have only started getting in relatively recently. And even those guys will still make decent gains (just not life-changing like those of us who were in beforehand)

I'm still thinking the top will be Q4, at least 100k (but potentially upwards of 200k). I can almost guarantee the top is not a mere 50k, a 2.5x from the last peak. Not to say that significant pullbacks won't happen, like the bear trap we all saw just a month ago. There will be plenty more like that to shake people out.

>>28572841
if you've made this much good job, nothing wrong with cashing out and yes it will crash. however, i believe we are in a weird hybrid of disbelief and media attention. the big players were in the know this cycle and got in earlier than last hence the early media coverage.

>>28572992
people said this in early 2018 as well...

>>28573517
Hahahahahhahhahahaa!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

>>28578226
I'm not talking about Tesla pumping the price. Thousands of large corporations around the world attempts to copycat whatever Tesla does, because they believe Tesla sits on the magic formula to inflate the price of their own stock. They will follow Tesla into this, and this will create corporate FOMO.

Institutions weren't anywhere near as involved as today. BlackRock, the largest asset manager in the world with $8 trillion AUM, endorsed Bitcoin. JP Morgan, which has historically been ultra bearish, acknowledged that Bitcoin is now a serious competitor against gold as an inflationary hedge.
Institutional involvement is on a completely different scale this time around. Bitcoin is no longer a joke to these people like it was in 2017.

>>28578607
interesting thanks for sharing fren

>>28574554
This.

Also Parsiq will release Ncase and iQProtocol with all the big players (projects and exchanges)

>>28574251
That chart looks so bullish I would buy that chart. Looks like we are going to new highs baby

>>28578274
>Right now reminds me of when BTC was $3k in early in 2017.
That's exactly the same kind of feeling I'm getting.

>>28578384
That's actually exactly why these super-cycles happen. The reason they pump so high is that people realize that BTC is a solid long-term investment and the best performing asset over the last decade, and so people FOMO in trying to front-run each other, thus driving up the price. Then, because everyone realizes that BTC price only ever goes up long-term, they just keep piling in, not caring how ridiculous the price is skyrocketing, because worst case scenario they'll just sit on it for 3-4 years and continue from there. This all causes a positive feedback loop of price action until eventually people start having serious doubts about the possibility of bitcoin long-term ever being able to reach this point again, and then the selloff triggers. Just think of all the bobos we had to listen to throughout 2018-2020 saying that it would never ever ever reach 20k again, and that 2017 was a one-time fluke and not part of a larger pattern.

Point being this attitude is exactly why it occurs, and why it's necessary. People realize it's the best possible long term hold, they fomo in, the price overshoots eventually, and then crashes before pushing even further in 3-4 years.

>>28572972
>>28572992
so which is it? i want to buy in now but i feel like that would be fomoing cuz everything is super high today. should i wait for a drop in the market or say fuck it and buy in now?

I'm planning my sells on the idea that crypto will bubble and crash again and the economic devastation will be on the level of the dotcom crash in the early 2000s. There will be a few Amazons and Apples that will survive and thrive, but 99% of the coins out there will go to zero. Cue another round of bailouts, and so it goes.
The dotcom crash destroyed about 20 trillion dollars of "value", so accounting for 20 years of inflation since then, I'm not planning on making any big sales until the collective crypto market cap hits 40 trillion or so. I do have some small sales planned at various multiples to take profit. Example: I got a 20x on VGX, so I sold 5%. Everything else in that bag is house money now. But you do you, boo.

>>28579070
>Point being this attitude is exactly why it occurs, and why it's necessary. People realize it's the best possible long term hold, they fomo in, the price overshoots eventually, and then crashes before pushing even further in 3-4 years.

But can we really talk of cycles as some sort of established truth when the crypto market is barely 10 years old (and this is just counting when Bitcoin started)

>>28572841
I cashed out 25% hours before Musk pumped the market further. I feel like we're not going to really significantly crash until the stock market bubble does, and the fed is doing everything it can to stop that.

>>28572841
This is my personal hell right now. If I exited all crypto, I could net around 500k after long-term cap gains which is not even half of what I need to escape the wage cage. Yet, I could pay off the mortgage for 100k, pay myself 50k a year for at least 2 years, and still have a 300k warchest to jump back in during a big dip. The hell of the matter is how much will the dip be. If it's a 30%, I'm fucked and will likely get priced out. If it's a 60-80% full nuke, then I'm set: follow indicators, be a little conservative, and get back into the market with what I had and probably more. The killer is the thought of not punching out, it's a full nuke, and then I'm stuck in wagie hell for another 3 years while sirgay sorts out staking and moneyskelly unfucks 2.0. Fucking 6-figure hell is the weirdest shit ever

>>28579916
I don't know what projects you are invested in. I still have $700k worth of Chainlink. I cashed out that much because I just want to buy a house and live there for like 5 years. If Chainlink has not delivered something astronomical in terms of prices and adoption by 2025, that's fine with me. I'm a huge bull on it still, been holding since 2017. Some may now question why did I cash out if I am bullish, but if this project does not deliver: whole crypto and DeFI itself will fail.

>>28572841
nocoin mode till next crash

>>28572841
170k in 2/3 months

>>28579070
It's pretty funny because it's already happened like 5 times now

>hyperinflation confirmed for the next 5-10 years
>0 or negative interest rates confirmed for at least the next 5 years

Why would you sell any assets knowing that?

>>28573126
Xmr sold for cash. If it's over 50k just pay the taxes

>>28572841
Im gonna be full out when btc crosses 150k

>>28572841
I'm 50/50 tether and BTC. I don't trust the musk pump into the high 40's. seems super superficial to me. I'll never sell below my suicide BTC stack though, because who knows.

I just bought bitcoin. I hope to god someone will buy them off me at a higher price in the future. Because all I have right now is a number in my bitcoin wallet.
Maybe I should have invested in dividend stocks or real estate so I can get an income while holding and not have to worry about the price as much.
Please, please god make someone buy these electronic coins off me at a much higher price. Please!!!
.

>>28577542
o fug

>>28580088
Checked. I stuck to the holy trinity BTC/ETH/LINK (.5 BTC [lol], 150 ETH, and 14000 LINK). Was going to stake most of the ETH until I found out converting to the 2.0 chain is taxable (get fucked), so that's either long wait for the 1.0 chain to get incorporated into 2.0 or I sell the 1.0 and buy back in later. Meanwhile I'm super bullish on LINK but know it's going to get dickpunched when BTC corrects and waiting years for captain hamburger to get things straight is harrowing.

>>28580314
>fuds not answering this question

Looks like you’re all just FOMOing out instead of making decisions based on the reality of these economic and monetary conditions that we are living in and will continue living in for the remainder of this decade

>>28572841
Took BTC 12 months from hitting the last ATH to dump. BTC hit the last ATH in december 2020. Some people say july because of time since the halvening.

>>28580650
Is this bait? It makes me want to sell my pinkies

>>28580945
because BTC isn't a typical asset. Its purely speculative, its valuation doesn't behave like a house.

>>28572992
retarded faggot, what goes up must come down and in crypto 40-60% corrections are the norm. Prepare to miss out on all of your gains

>>28572841
How did cashing out for you go down, was there any issue with your bank? What exchange did you use

Personally I'm gonna take profits when we hit 5 trillion totalmcap prob

>>28581163
based.

>>28581152
You’re right, but you’re wrong.

A house has poor liquidity and is an asset that can only be sold to people locally, BTC can be bought and sold to anyone, anywhere in the world.

This is why Bitcoin has increased on average 200% year on year and housing has increased on average 10% year on year.

>>28581293
I have to visit bank in person, provide documents to them of my original bank transfers and sign some papers (there is a document here in my country like regularized document called "The Origin of Funds", which is basically to ensure you are not getting money from some terrorist organizations/cartel money) it is a standardized process and the bank clerks have been helpful filling out the docs correctly. Never had problem

>>28577199
same story. good story, plz dont slave long

>>28577370
Transactions on the blockchain are public. If you sent ETH to your wallet from an exchange that knows who you are, especially if you've done so multiple times, that wallet can be identified as yours if the government really wants to. If you bought everything from non-KYC exchanges, used a VPN when doing so, etc. you might be OK.

>>28581577
>send internet money to friend from exchange
>government thinks friend’s wallet is yours
>arrests you for transactions your friend made

ETH/BTC pair still has a long way to go (2-3x) before the alt season rally is finished. we are weeks away from the altcoin top

>>28572841
You don't play it safe, if you haven't paid your capital income tax on whatever you cashed out. OP I hope that you did not commit tax fraud.