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27340023 No.27340023 [Reply] [Original]

let's hypothetically say that my friend is a 2nd world student from a mid-class family that has 6.000.000$ in crypto after fucking around for few years mostly duo to pure luck
that would potentially be a life-changing amount of money for him that he'd probably never be able to reach normally, what should he do with it?
selling everything seems like a waste, would make futher huge gains impossible and would surely attract some attention, not mentioning the fact that 23% of that would be taxed
but at the same time he's nervous that if somehow shit goes down, he'd lose everything and be back to square one, with a life-time opportunity wasted
how would one make sure that his future is set without the money just rotting away on bank account?
purely theoretical question

>> No.27340045

Nigger

>> No.27340201

he can keep a good amount of his crypto as some stablecoin, have some amount of it for shitcoin roulette, and cash out what he needs when he needs it

>> No.27340624

tell your hypothetical friend to take out 1M and let the rest ride in crypto

>> No.27340840

Why not take out 50%, pay your taxes, live life as a rich nigger and forget about the other 50% in crypto for a year of 5. If it's gone, it's gone and youll have 3m in the bank (and hopefully invested this in some smart and stable ways). But most likely your 3M in crypto has grown too. Pick smart long term projects with actual use cases to stash them in.

>> No.27341065

>>27340023
take it out dummy. I was in your boat in 2017 and basically lost it all because greedy faggot.
take it out, pay your taxes, get a good wife and live the good life. maybe leave 10 - 20% in btc /eth/xrp and forget about it.

Take it out. pay your taxes. buy a house. you can lose 23% in a day in crypto, the tax aint that bad. just pay it.

>> No.27341253

>>27341065
Shoulda hodled

>> No.27341369

Always follow the 80-20 rule. Take out 80%, leave the rest in. PAY YOUR FUCKING TAXES

>> No.27341655
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27341655

>>27341253
yes I should have. it fucking torture my soul.