Thread 60805203

What are you supposed to do if, during an alt cycle, your portfolio rises to $500k? You'd need to cash out everything to have a (minimum) life changing amount of money, but you'd probably kill yourself if the market continues to go crazy and you realize you denied yourself millions by selling early. Selling half seems like the worst of both worlds, denying you huge gains if you're early and not enough for comfort if you're right on time.
Is this what you guys mean by six-figure hell?

>>60805203 (OP)
hard as it is, the only thing you can do is not worry about it
if you sell and it keeps going up, don't newton back in, a potential loss isn't a real loss

>>60805209
Wrong
>>60805203 (OP)
In a scenario like that, OP, the logical step is to kill yourself. So PRAY, that you time the top.

>>60805203 (OP)
And that’s BEFORE taxes

Sell in portions across the cycle top altseason, for BTC.

Then start paying yourself a monthly salary in dollars.
With the dollars, do whatever you did if you didn't know about crypto. Invest in funds, banks, your health, start gathering some for real estate etc.

Slowly DCA your brain out of this gambling world

The only life-changing money is the amount that covers your expenses so you can have 24 hours a day to chase whatever you dream of.

Everything else is just measured against consuming products and things you don't need. Quoting John D. Rockefeller - "How much money is enough? A little bit more."
meaning there is never an amount that is life-changing, life-changing is getting yourself out of the loop.

>>60805203 (OP)
>market go up
sell
>market go down
buy
it's literally that shrimple

>>60805203 (OP)
you sell, take the 500k and then DCA them back into Crypto blue chips over the coming Dumps. then when it pumps again in a couple years you go 10x with that bag and repeat again.
its really simple

>>60805603
In what world would you ever sell ALL of your crypto? Imagine how many people from the early days have cucked themselves out of being a millionaire just because they didn't hang on to 10 BTC just in case.

>>60805203 (OP)
I'm literally in this situation right now. It is 6fig hell.
I'm most BTC/ETH and I sold 5 eth yesterday, around 22k or about 4% of my portfolio, just to lock in some profit for this cycle. I don't think I could handle roundtripping 80% down again and walking away with $0 profit.
Maybe eth will still 4x and that will cost me 90k in lost gains, but fuck it, I've locked in some gains at least.
>>60805264
I was calculating out the taxes and it pisses me off so much, I'd owe 100k minimum if I sold everything today, and 300k if it went to 1m and I sold.
The worst part about it is as a leaf, if I'm working the same year I sell 1m, I'm paying way more taxes than if I had just quit my job. All the working adds up to below minimum wage when you look at the after-tax and ignore the crypto gains. Ideally I'd get laid off, enjoy my several month severance, and everything would peak January 1st so I could reduce my tax burden substantially.
>>60806431
>In what world would you ever sell ALL of your crypto?
Yeah that's my thinking, I'd feel like the biggest retard if I sold all my crypto after holding it 8 years and it went up another 10x over the next decade.
I intend to hold 1 BTC, 5 ETH, and 1200 staked LINK forever, then sell everything else when it's enough to reach my retirement number and move it into index funds.
Problem is holding this crypto doesn't generate much yield, so it means I have to increase my retirement number so I can afford to sit through a downturn, which means I might not make it this cycle.
Everything would be so much easier if crypto just went to 2x my retirement number overnight, that way I could sell for more than what I need in retirement, taxes wouldn't be a big deal, and I could use the cash flow from index funds to easily cover my cost of living comfortably and continually DCA back into crypto, but I'm just hopium posting now.

>>60805203 (OP)
Take profits, buy land or property, forget about it. Period. Check BTC price every now and then, when you see bear market BTC -65-75% and ALTS 90% down it's time to buy back, sell you lands or property with profits, and buy back. No bear market at all? No problem you have got some nice assets