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/biz/ - Business & Finance

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14385730 No.14385730 [Reply] [Original]

>tfw sold at the peak
Went from being a neet with 3,000$ in cash savings after putting my inheritance in btc to now having a net worth of 7.9$ million. I was going to sell when it peaked a few years ago but I decided not too and regretted it. This time I wasn't going to make the same mistake again. It's not worth gambling like that, I have more than enough to survive now.
Thank you /biz/. What a crazy ride it's been. I hope most of you who sold made some bank

>> No.14385743

>>14385730
dumb anime poster

>> No.14385753

>>14385730
also protip use Credit Suisse to cash out

>> No.14385760
File: 94 KB, 220x149, tenor.gif [View same] [iqdb] [saucenao] [google]
14385760

>>14385730
Congratulations anon

>> No.14385764

I missed the peak and I would have $44,000 if I sold the top. im only worth $200,000 right now and im 21, do I have any chance at all to make it?

>> No.14385781

>>14385730
>ITT: things that never happened

>> No.14385790

>>14385730
based
I have $8k now hopefully I will make it just as you did
I'll wait for it to drop some more and buy in

>> No.14385811

Power fantasy larp thread

>> No.14385829

>>14385730
i know it's a LARP but just wondered what non-gambling investments are you buying at the top of the market with your $7.9m ?

>> No.14385850

>>14385730
throw 200k at RLC and thank me EOY

>> No.14385868

>>14385730
Proof or Larp.

>> No.14385891

>>14385753
congrats anon. Can you elaborate why you used credit suisse?

>> No.14385933
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14385933

>>14385730
congrats based anime poster

>> No.14385942

>>14385891
Private banking, I guess?

>> No.14385954

>>14385730
see you again after 20k
and then at 100k
and then at 500k
and then at 1000k
and then at 10000k

my bags will be ready when you are friend

>> No.14385976

>>14385730
Post an account statement fucking larper

Keep the numbers reasonable on your next go around

>> No.14385982

>>14385942
All banks offer private banking if you're considered a high net individual. There has to be a better reason. HSBC offers private banking starting at 500k CHF.

>> No.14386025

>>14385730
You'll never be able to convert large sums to cash or the police will arrest you

>> No.14386075

>>14385730
And how the fuck are you going to get around taxes?

>> No.14386094

>>14386025
You can cash out large sums of money, you just have to not be a fucking retard about it. You tell your bank in advance that you're going to be getting large deposits of money soon and then explain to them how and why it's happening, probably with transaction reports from whatever exchange you used. Obviously if you just randomly dump 5 million into your bank account without any notice the bank is going to get suspicious.

>> No.14386112

>>14385764
Put half of that in a roth ira or a high interest savings account, then get a retail licence.

>> No.14386111

>>14386075
Just pay the taxes then file for your tax return, lmao.

>> No.14386126

>>14386075
just spend it a bit at a time, it's not that fucking hard. or just do what every other tax evader does and set up a modern artist to 'buy' his paintings

>> No.14386131

>>14385730
make sure u spend it real quick anon. dont wanna get stuck holding those bags when inflation fucks u and btc is the standard currency

>> No.14386244

>>14385730
proof or larp (PoL)

>> No.14386593
File: 109 KB, 1387x702, frog55.jpg [View same] [iqdb] [saucenao] [google]
14386593

>>14385730
That's a lot of money even after taxes.
Cool bananas fren!

>> No.14387217
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14387217

>>14385730
post your old wallet address you faggot larper

>> No.14387223

>>14386126
Why the fuck is "buy" in quotes here? I get the distinct feeling you have no idea how people launder money through art.

>> No.14387421
File: 499 KB, 500x377, applegate.gif [View same] [iqdb] [saucenao] [google]
14387421

>>14387223
Probably just another person confusing tax evasion and money laundering.

>> No.14387549

>>14387223
>he doesn't know the modern art laundering scheme.
>>14387421
>implying proper money laundering works with those amounts as a private citizen.
unless OP has some form of a spoof company, that money gets traced, you dip.

>> No.14387695

>thinking 13k was the peak
damn OP, for a millionaire you are dumb as fuck

>> No.14387767
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14387767

>>14385730
so you invested 2 million usd inheritance at bitcoin when 3000 after 90% decline sounds reasonable and believable so gongratulations enjoy nice retirement days :D

>> No.14387803

>>14386112
low iq advice detected

>> No.14387826

>>14387695
Let's be real here, 7.9 million is nothing to scoff at. Even if it doubles, he's still set for life with his stash.

>> No.14387854

>>14387826
Seriously, OP made a smart move. There's literally always gonna be a "what if?"... you need to take profits eventually.

>> No.14387905
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14387905

>>14385730
Buy 100k Chainlink before you go fren.

>> No.14387927

>>14385942
>>14385982
i need a quick rundown on private banking

>> No.14387961

>>14385976
it is not unreasonable to become a multi millionaire in crypto

>> No.14388069
File: 355 KB, 823x744, gabiriru.png [View same] [iqdb] [saucenao] [google]
14388069

>>14385730
>from 3000 to 7.9 mil
You would have had to buy bitcoin at around $7.00 and sold at the very top back in 2017. $7.00 bitcoin was Silk Road prices. kys Larper

>> No.14388119

>>14387826
This. There's no reason you'll ever actually need more than 7.9 million in your life unless you're an absolute retard. My exit number is 2 million but I'm still a long ways away.

>> No.14388164

>>14388069
>3,000$ in cash savings AFTER putting my inheritance in btc
He had $3,000 left after buying bitcoin.

>> No.14388170

>>14385730
So you were the one who dumped it? I HATE YOU.

>> No.14388223

>>14388119
even $500k savings is comfy as fuck. Take 5-10% of that and reinvest in shitcoin mooning prospects. Take another 30% and put it in a Treasury Bond or some other risk-free. Hodl the rest.

>> No.14388238

>>14388119
you'll never make it off 2 million lmao

i cashed out 2 mil in 2017 and i spent 1 on condo and car and it's just enough for anything

the comfylife begins at 5-15mm

>> No.14388248

>>14388223
spoken like a guy with no money lmao

>> No.14388251 [DELETED] 

>>14385730
When did you first buy in and how long have you held?

>> No.14388260
File: 980 KB, 500x375, applegate3.gif [View same] [iqdb] [saucenao] [google]
14388260

>>14387549
i'm saying that tax evaders don't use art purchases because that's not tax evasion. you said "or just do what every other tax evader does and set up a modern artist to 'buy' his paintings". dip.

>> No.14388281

>>14385730
>Posts anime
Stop lying

>> No.14388321
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14388321

>>14388248
>t. trust fund babby
enjoy walking onto the freeway after snorting coke

>> No.14388562
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14388562

>>14385730
Congratulations fren! You should buy some commercial property and a nice doggo. The dog will never betray you.

>> No.14388628

>>14388260
it can be used as such and should be when handling those amounts for a private individual, dip. maybe also try to understand what i wrote instead of just copy pasting it next time?

>> No.14388689

>>14388238
did you got bitcoin for like 2-3 usd?

>> No.14388701

>>14388238
>i cashed out 2 mil in 2017 and i spent 1 on condo and car
no wonder you can't make it, you spend money on stupid shit

>> No.14388707

>>14385730
like a true red dragon!
congrats my friend

>> No.14388926 [DELETED] 

>>14388562
And thank me later

https://imgur.com/Oufo6kI

>> No.14389079

>>14388238
That's your own fault retard

>> No.14389286

There's no way you held until $7.8 million.

Normal people would have sold at $1 million or even $100,000 profit.

I mean I bought bitcoin at $3000 in 2017 and sold a few months later at $11,000. I couldn't fathom holding until $7.8 million (lets assume that bitcoin goes to $7.8 million in the distant future). The stress of looking at the price everyday constantly wondering if I should sell.

That's just not how normal human brains work, maybe if you went into a coma and suddenly woke up years later and you had huge profits it would make sense.

>> No.14389337

>>14385730
>lol some animefag trying hard to cope with his mental illness and his alternative reality where he’s rich

>> No.14389399
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14389399

>>14385730
Just imagine if this would actually be true and OP gets arrested by feds for money laundry and tax evasion when he goes to bank to cash out

>> No.14389480

>>14389286
>t. weak handed high social preference nigger

>> No.14389532

>>14389286
You are really stupid and/or new. It's actually alot harder for people to sell the higher up they get because they become addicted to it. Especially in crypto where it's a portion of your life and there's a whole crypto scene. It's really hard for alot of people to leave crypto.

>> No.14389549

>>14389286
You just are a degenerate. I know many people that invested in Apple in the early 90’s and sold recently for a gigantic profit. Just because no one informed you about the value of holding doesn’t mean we are all financially illiterate.

>> No.14389619

>>14388238

You spent 1 million on a condo and a house. What did you spend the other 1 million on?

>> No.14389657

>>14388238
Should have invested the whole thing in an index fund and lived off a comfy $175K/year

>> No.14389668

>>14386111
larp

>> No.14389797

>>14389619
Taxes

>> No.14389804

>>14389668
You think making money and just doing your taxes and getting your tax return is a larp? If you make a lot of money in crypto, just to your ducking taxes. Then get your tax return the following year.

>> No.14389806

>>14389549
Apple is an actual company that produces revenue and profit and can grow its business.

Bitcoin is fundamentally only worth what someone will pay and it provides no income stream. There's no way of accurately valuing it, so if you own it you are just a greater fool.

I'm already close to a millionaire, with most of my wealth in Vanguard high dividend yielding ETFs paying me a passive income stream that allow me to retire in 2015. I literally haven't worked a day since the beginning of 2015.

I've also been holding a rare earth mining company shares since 2009 so I am capable of holding long term.

I bet all the people frothing at the mouth replying to me are desperados hoping their electronic fantasy coins will make them rich if they hold long enough. Sorry you missed the boat, all the big gains have already been realized by the early adopters.

But good luck with that plan, seriously.

>> No.14389852

>>14389804
Are you so poor you think everyone just gets a tax refund, no matter how much income they make in a year?

>> No.14389854

>>14389797

50% tax on gains? Damn that's rough.

>> No.14389891
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14389891

Can someone send me some bitcoin? I missed everything man I didn’t even know what crypto was it was that bad.

>> No.14389969

>>14389852
https://obamawhitehouse.archives.gov/blog/2016/04/15/president-obama-and-vice-president-bidens-2015-tax-returns

>> No.14389991

/biz/ rule of thumb: if timestamped bank extract aren't posted then it's a LARP

you guys should know better. if i were a millionaire i'd make sure to post a timestamped extract to shit on every single wagie here

>> No.14390009

>>14389991
return to /fit/ immidiately

>> No.14390124

>>14389806
yeah but where did your initial investing capital come from? some people here didnt have the luxury of starting off rich NEETs

>> No.14390225

>>14387421
>>14388260
Sauce on this pants parser?

>> No.14390873

>>14390124
I started with no money. I stayed living at my parents longer than what is socially acceptable. My parents were middle class, but only my father working. So not rich. I only payed for food, internet and other bills. No rent.

I saved and invested most of my wages until the passive income was more than enough to not have to work. Then moved to a country with a lower cost of living. The dividends that I don't spend I reinvest which grows my income so I'm always keeping ahead of inflation. I calculated on a spreadsheet that I can easily make it to 80 years old without having to sell any shares so I don't touch my principal investment. I didn't factor in any capital gains from the stock market going up in the future either.

>> No.14390937

what was your strategy?

>> No.14390955

>>14389969
What part of that made you think "refund" exactly? Was it the "paid in taxes"?

>> No.14391079

>>14390955
They did their tax return and got a tax refund, which is what I was talking about, despite making a lot of money for that year.

>> No.14391237

>>14388238
>Spent $1M on condo
>Didn't go to lower cost area

I think I see the problem...

>> No.14391300
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14391300

>>14389804
>ducking taxes

>> No.14391755

>>14391079
I really feel like I'm missing something here. A tax return is not the same thing as a tax refund. Just because you filed your taxes, doesn't mean you suddenly don't owe taxes. The Obama's donated $64,000 worth of exemptions, and still had to pay $81,000 in taxes.

>> No.14392000

My peak was 170k now I'm at like 55k.

Initial was 1500.

>> No.14392079

>>14385730
Congrats on the success!

>> No.14392197

Why don't anyone in these larp threads ever post their accounts and trade history? Why do they always post anime or frogs instead?
And why do so many gullible idiots accept it without question? This is what happens when /b/ no longer is the gateway