I've made 600k in Crypto - When to call it quits

[600kcrypto]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

[1714499703]

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[1714499703]

1714499703

[1714499703]

1714499703

[1714499703]

1714499703

[Cardan0]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

You are a newby in the forum yet you´ve made a small fortune in crypto? Ok, let´s assume that´s true and thus my advice is sell half and keep playing with the other half.

[BitcoinNewsMagazine]

Sell, pay your taxes call it quits.

[exstasie]

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing.

[.....]

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.

What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

Are you saying you've never taken profit to USD? You've been actively trading altcoins.... what is your tax situation? How do you plan to deal with the capital gains?

Raiblocks has already seen phenomenal growth. Sure, another double is possible, but the idea of not taking some profit off the table seems certifiably insane to me.

Your portfolio is not well-diversified. I would stop thinking about buying people houses and start thinking about better diversification and overall exit plan. You especially need to craft a tax plan that considers short term vs. long term gains and maximizes the capital you can reinvest. Remember, none of this is real until you have some of that USD value stashed in real bank accounts. It's prudent to put some gains away for taxes and a few years of living expenses, while reinvesting profits from your remaining capital investments.

[LastJedi]

For some reason this sounds like that trevon james character from his portfolio (the oyster coin gave it away cause he was wondering to buy some or not in one of his recent yt videos) and he just posted a video 3 hours ago saying the same thing essentially:
I am going to sell all my crypto/bitcoin!

[player514]

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing.

[.....]

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.

What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

Are you saying you've never taken profit to USD? You've been actively trading altcoins.... what is your tax situation? How do you plan to deal with the capital gains?

Raiblocks has already seen phenomenal growth. Sure, another double is possible, but the idea of not taking some profit off the table seems certifiably insane to me.

Your portfolio is not well-diversified. I would stop thinking about buying people houses and start thinking about better diversification and overall exit plan. You especially need to craft a tax plan that considers short term vs. long term gains and maximizes the capital you can reinvest. Remember, none of this is real until you have some of that USD value stashed in real bank accounts. It's prudent to put some gains away for taxes and a few years of living expenses, while reinvesting profits from your remaining capital investments.

I think OP can definitely diversify his portfolio more, but he's definitely gotten to the point where if he grabs even just some of his gains and brings it out, he can put it into long term investments like mutual funds/stocks and make even more a bit more safely. OP, I suggest you take some out (not all in case your predictions are true), and make sure you keep enough in so that any profits you make will still be relevant. Regardless, you always want to look to come out positive and remember that with crypto trading (and trading in general), you haven't made any money until you convert it to fiat.

[jontata]

Why not Monero?
Forget your friends, keep Hodling!

[CryptoProfy]

Very very strange portfolio 

[13abyknight]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

Damn that's some profit you made there with a very unique portfolio. Every single coin mentioned has a bright future, so you could just hold onto everything and wait till it grows to $1M or just sell half of it and play around with the other half. Either ways, your majority investments being XRB and PRL is just crazy as both have high potential for growing.

[NeverSop]

With 600k it's a huge amount so you can invest. Your portfolio is quite good with strong peers, so I just wonder why you only invest in bitcoins with a very small amount, since normally you should keep more bitcoins. For you DCA coin drops, that's about your backup. I think you should keep yourself more bitcoin, that's my advice.

[nhanhzam]

 
You are the same as me, if i have 1000000 $ i would feel so empty because i dont know what to do with it, and i don't want people to look at me as a rich guy.

[aveon]

If you do not want to earn more, take some cash out and buy a house or a car or you may organize you own business in real life. Othewise, just have some fun. And remember not to keep all eggs in one basket.

[chemvidswoot]

600Kcrypto - I'm roughly 15 years older than you - 40. The time is going to rush by for you - 26 today - 45 tomorrow.

I make my living as a vulture investor -always looking for what is underpriced and cheap. But also I only buy things which produce flows of cash through time. Cryptocurrency by definition is not an investment - it is a speculation (a bet on the future price of an asset). A key point to remember is that if you overpay a little for an investment you will most likely still make money in the long run because it produces cash every day/quarter/year. Reinvested cash, over and over - will make you insanely rich over the years.

I buy stocks, commercial real estate (apartment complexes, mobile home parks) - and now for some diversification I am looking at putting maybe 1-2% of my portfolio in a small crypto mine (I have a commercial building sitting on land I own with great electricity prices in a cold climate). But I would never gamble my entire net worth on any one asset - once you are rich (and you are at the beginning stages of being rich) it is not worth it.

$600K is a sum large enough to almost guarantee you will become truly rich over the years - and it is a sum you may have a very hard time saving up if you don't take steps to protect it NOW. Time is your friend - make 10-15% per year from now on out on that nest egg and you will be stupid rich while you are still young enough to enjoy it.

You have done an amazing thing - accumulated a significant nest egg at a young age. My best advice to you would be to take your money off the table at this point. Find a nice mix of value stocks - or if you want something more active that can yield higher returns over time - get into commercial real estate. Find some underpriced small apartment complex or mobile home park around $1M in value, buy it with your $600K and then rapidly pay off the debt (should be 5 years if you buy correctly).

When the debt is paid you should have yourself a multiunit building or trailer park of 50 lots or more which gives you a cash flow of greater than $100,000 USD per year for the REST OF YOUR GODDAMN LIFE.

And you will be only 31 years old my friend.

The beauty is you can go back to school maybe - or just keep working - in the mean time your money works for you. You will be 31 - prime of your life young man. You'll have a full time income from your job PLUS $100,000 per YEAR to REINVEST in a wide variety of cash producing assets - more apartments with higher leverage ('cause it's your second deal you can borrow more), value stocks, etc.

You'll easily have $10M in today's money by age 50 - maybe 40 if you really hustle.

But get your money out of crypto - you are WAYYYYYYYY too concentrated in an extremely speculative asset class.

Get back in after a crash. Or at least reduce it to 10% or less of your holdings. Buy some mining gear at good prices if you like so you're actually producing the asset not just purchasing and speculating.

With this plan you are almost guaranteed to become very very rich in life. If you stay in crypto at this point you are gambling with your money. You have a $600K nest egg - a GIGANTIC head start in the wealth game. Use it wisely.

Also more advice:

-STOP TALKING RIGHT NOW ABOUT YOUR GODDAMN WEALTH TO YOUR FRIENDS. NO GOOD CAN COME OF THAT.
-Get educated - if you do not yet understand and are educated about modern portfolio theory and behavioral finance, economics and statistics - make it your biz to learn. For the record I don't believe MPT holds water but you need to know it because it underpins almost all financial advice given by pros (again I think they're wrong - I'm a value fan of Ben Graham and W Buffett). You MUST understand discounted cash flows, time value of money, net present value, internal rate of return and other core finance topics because they are the foundation of all wealth building and investment analysis - take a course at your local jr. college if you have to

Best of luck - remember the #1 rule of investing is DON'T LOSE MONEY.

The #2 rule is - SEE RULE 1.

[chemvidswoot]

Also - your friends are financial idiots - I can tell that by what you said about them. If they are telling you to buy a house, a car and "live a nice lifestyle" - they don't have money and don't know how much capital it really takes to "live a nice lifestyle." You can't do that on your returns safely until you hit low 8 figures (which you can at your age with your nest egg) net worth.

Do not buy a house - buy a multiunit building - live in one unit, rent the rest. Thereby you both get a great cash producing investment and you also eliminate your housing expense completely - accelerating the race to more wealth.

[Wipro]

With 600k it's a huge amount so you can invest. Your portfolio is quite good with strong peers, so I just wonder why you only invest in bitcoins with a very small amount, since normally you should keep more bitcoins. For you DCA coin drops, that's about your backup. I think you should keep yourself more bitcoin, that's my advice.

Last few hours bitcoin value seems reduced in the price chart so you can check and invest with the complete 600k USD or with the half of the fund in ethereum and bitcoin splitted each other. There are many people turns to altcoins so you can invest on bitcoin and I think your investment will boost the price for some little cost at least in the price chart. So wait for sometime.

[lhfly5201314]

Lucky dog!!
I think you already have the answer,you say the XRB and PRL can double easily.
So, I think you should hold them without doubt.And the other,you can sell a half to get
more cash!If the whole market goes down,you can get more coins,on the other side,if
the market keep bull,you also can earn pretty much profit with XRB and PRL.
Above is my opinion!Finally,you have to make a decision by yourself.

[alfs75]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

Will ,everyone of us here  have a different opinion,but if you ask me now my opinion what should i do,if that  lucky things happen to me, will im not giving up my trading,but i withdraw some of my investment to buy all what i want and  buy a house and lot for my siblings shelter,and providing all that there needs,because all of this graces given from heaven,so i want  to share it to my family,and give some few things to the orphanage foundation and church donation.all this things planning i want to do this,if that happen to me in the future Gods grace given to me.

[koryu]

Hi Guys

I've been in the crypto scene for many years now, first time post here over a dilemma I am facing.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing. But friends close to me think I am an idiot for not selling yet, and if it were to collapse to zero, I would never forgive myself. But they don't know the market like I do, and I do believe that it is only the beginning. They say I should sell 95% buy a house, a car and live a nice lifestyle. I am frugal, have always lived within my means and never spent any crypto money as of yet, but I am tempted to start spending some of it now. I am 26 years old, rent an apartment and drive a car worth less than most peoples pushbikes.

My portfolio currently looks like this....

43% Raiblocks
40% Oyster Pearl
5% Enigma
4%Dash
1.5% Bitcoin
and tiny holdings in Waves, Lisk, Stratis, Game.....

I think that both XRB and PRL can double easily this year.

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.


What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

Just be smart. Take small % off the table the more milestones you hit.

For example, with 600k why not take 10% off the table and keep it in FIAT.

If the market crashed you have some chips on the sidelines to get in even heavier at lower prices.

This is the way I would play it. I would never cash out 100%.

[tiggytomb]

Nice amount of profit and I like your top coins, I would definitely have to take at least 25% out and think about how the tax situation works in your country just to be safe and avoid any hassle.

[600kcrypto]

Wow thanks for all your help guys. looks like I have some responding to do!

As for my plan, I am taking out 30k, my intial investment was 10k in 2014, so I am 3x up no matter what happens now. I am going to buy a nice car and have a nice holiday this summer with my money.
I will diversify my portfolio with a few top 10 coins, IOTA and Cardano look good to me. I think Bitcoin and the Alts will ebb and flow a lot this year, so plan on moving most of my funds back into Bitcoin when I see a bullrun commence (I think this will be around mid 2018 when other big banks start offering investments into BTC) once the bullrun has ended, I will flip back into Altcoins and hopefully make a tidy return. I will keep you all posted on how it turns out for me 
 

Just be smart. Take small % off the table the more milestones you hit.

For example, with 600k why not take 10% off the table and keep it in FIAT.

If the market crashed you have some chips on the sidelines to get in even heavier at lower prices.

This is the way I would play it. I would never cash out 100%.

Thanks, this is the advice I will follow dude!

Lucky dog!!
I think you already have the answer,you say the XRB and PRL can double easily.
So, I think you should hold them without doubt.And the other,you can sell a half to get
more cash!If the whole market goes down,you can get more coins,on the other side,if
the market keep bull,you also can earn pretty much profit with XRB and PRL.
Above is my opinion!Finally,you have to make a decision by yourself.

Lucky? No. I didn't accidentally buy Bitcoin, and I didn't accidentally trade it for PRL and XRB, I did my research and backed coins I saw had potential to grow.

So, I am fortunate enough to make 600k from buying and trading Bitcoin and other crypto assets, and I don't know what to do with the money. Personally I think this is the year I will become a millionaire, as I can only see the marketcap of all coins growing.

[.....]

This is not based on greed btw, I want to make enough money so I can buy my siblings houses and see them mortgage free.

What would you do if you were me? When do we call it a day and give up trading?

Many thanks for your help in advance.

Are you saying you've never taken profit to USD? You've been actively trading altcoins.... what is your tax situation? How do you plan to deal with the capital gains?

Raiblocks has already seen phenomenal growth. Sure, another double is possible, but the idea of not taking some profit off the table seems certifiably insane to me.

Your portfolio is not well-diversified. I would stop thinking about buying people houses and start thinking about better diversification and overall exit plan. You especially need to craft a tax plan that considers short term vs. long term gains and maximizes the capital you can reinvest. Remember, none of this is real until you have some of that USD value stashed in real bank accounts. It's prudent to put some gains away for taxes and a few years of living expenses, while reinvesting profits from your remaining capital investments.

I have never touched any crypto money yet, though I ordered a Bitcoin Debit Card last night and sold some Bitcoin-Cash I had on an old wallet. In my country there is no capital gains tax on Bitcoin yet, so I dont need to worry about that. I am diversifying my portfolio now, thank you for your help.

600Kcrypto - I'm roughly 15 years older than you - 40. The time is going to rush by for you - 26 today - 45 tomorrow.


With this plan you are almost guaranteed to become very very rich in life. If you stay in crypto at this point you are gambling with your money. You have a $600K nest egg - a GIGANTIC head start in the wealth game. Use it wisely.

Also more advice:

-STOP TALKING RIGHT NOW ABOUT YOUR GODDAMN WEALTH TO YOUR FRIENDS. NO GOOD CAN COME OF THAT.
-Get educated - if you do not yet understand and are educated about modern portfolio theory and behavioral finance, economics and statistics - make it your biz to learn. For the record I don't believe MPT holds water but you need to know it because it underpins almost all financial advice given by pros (again I think they're wrong - I'm a value fan of Ben Graham and W Buffett). You MUST understand discounted cash flows, time value of money, net present value, internal rate of return and other core finance topics because they are the foundation of all wealth building and investment analysis - take a course at your local jr. college if you have to

Best of luck - remember the #1 rule of investing is DON'T LOSE MONEY.

The #2 rule is - SEE RULE 1.

Thank you so much more your kind advice, I will look into all you spoke of in great detail, as I need to think of an exit plan soon I believe, on a small note, I dont discuss my wealth with my friends, my family, my friends and colleagues - none of them have any idea I have these assets, only 2 people know, one friend is a lot older than me and doesnt understand crypto at all, but he puts so much FUD in me its untrue, now everytime I see him he is asking if I have sold it yet. I wish I had never shared the secret with him.