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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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52932315 No.52932315 [Reply] [Original]

Give it to me straight. I'm $5k in debt and I have $0. Right now if I were to consolidate and liquidate all of my crypto, I'd be able to cash out with approximately $5k and pay off my debt. But my portfolio consists of long-held top coins (BTC, ETH, LTC, LINK) and I'd be selling at a huge loss. I thought I was going to make it, but I'm just not sure anymore. I'm living alone in a 1 bedroom apartment and my rent is $2k per month. What do I do?

>> No.52932325

Btw my portfolio was worth $15k in 2021 and I thought it was going to be worth $100k in a few years.

>> No.52932329

>>52932315
>I'm living alone in a 1 bedroom apartment and my rent is $2k per month
What the fuck

>> No.52932343

>>52932329
How long have you been asleep anon? Did you just wake up from a coma? The world is ending.

>> No.52932346

>>52932315
Keep your crypto and go bankrupt, move to cheaper aparment

>> No.52932354
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52932354

>>52932346
>move to cheaper aparment

>> No.52932355

>>52932315
go out in a blaze of glory and take out as many zogbots as you can, also livestream it
post links here, then rip through some zogbots apart

>> No.52932385

I'll be honest anons, I'm considering selling my crypto and then just buying some video game consoles or a sex doll or something and just ignoring my debt. The voice in my head telling me not to is getting smaller and smaller by the week. That I even created this thread instead of hurling myself off a cliff a miracle.

>> No.52932396

>>52932385
your life is dogshit, even if you had money it would still be dogshit

do the right thing and exterminate the zog

>> No.52932437

>>52932315
whatever you do.. do not sell. looks like youre moving back in with your parents my man. either that, or you get a job literally today.

>> No.52932496

>>52932315
move it all to monero and store on a cold wallet, claim it was stolen

one month later file for bankruptcy then trade the monero for whatever on a dex

>> No.52932507

>>52932315
>he doesn’t know about the 40% cap gains tax

>> No.52933333
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52933333

>>52932315
>I'm $5k in debt
Just don't pay. Take the debt red pill.
https://www.youtube.com/watch?v=oD2gXY4piF4
https://www.youtube.com/watch?v=tk5VmlSts1A
>>52932507
>40% cap gains tax
>40%
No its not. The long term capital gain tax is maxed out at 20% and both short and long term capital gains are taxed at different levels depending on your income and he wouldn't be taxed at all if hes selling at a loss.

>> No.52934667

>>52932315
This entire thread revolves around literal chump change. Do whatever it doesn't fucking matter. Lemme put it another way... You're nikel and diming your self and you pay rent to some Jew..imagine caring about 5k when you pay 2k per month to some random person and get nothing in return. That's the problem. 5k is actual change. Spent more than that in like 5 seconds at the club or casino.

>> No.52934808

>>52934667
Give me $5k then.

>> No.52934811

>>52932315
Do you have a job? Where are you from?

>> No.52934861

>>52933333
Checked
Just know that once your debtors give up and write off your debt as "bad debt", it'll be counted as income on your taxes.
I got Chase to drop like 8k in credit card debt from when I was an addict, and a few years later I got a letter from the IRS saying I owed like 3k in back taxes from it.
Don't try to fuck around on your taxes like you would any other debtor.
That's a recipe for jail

>> No.52934972

>>52932315
Unironically become a truck driver
The big company’s pay for your schooling be a truck driver. For 1-3 years get paid no rent and. Start your life over

>> No.52935304
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52935304

>>52932315
>I'm living alone in a 1 bedroom apartment and my rent is $2k per month

>> No.52935547
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52935547

>>52934861
>Just know that once your debtors give up and write off your debt as "bad debt", it'll be counted as income on your taxes.
Very true good to keep in mind and don't mess with the IRS thankfully it could take years for the debt buyer to write off OP's debt.
>>52935304
At least we can heat our homes during the winter unlike europoors

>> No.52935584
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52935584

>>52932354
it's called roommates or the forest.