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

[reliable]

Sell, pay your taxes call it quits.

why would you he quit bitcoin its still rising its like he has a property in a tourism area.keeps rising all the time

May be he would not like to take more risk now as he has make a huge amount of money and should sustain easily for the next few years and may be what OP can do is withdraw 50 % of the money to be on safer side and invest the rest in other coins to get returns.

[1715378717]

1715378717

[cryptoekn]

simply earning that much is calling quits already..

[Casdinyard]

Sell, pay your taxes call it quits.

why would you he quit bitcoin its still rising its like he has a property in a tourism area.keeps rising all the time

May be he would not like to take more risk now as he has make a huge amount of money and should sustain easily for the next few years and may be what OP can do is withdraw 50 % of the money to be on safer side and invest the rest in other coins to get returns.

Surely OP didn't expected what's happening now in his life like it didn't sink it yet that's why he's quite unsure if it's the right to do. I agree with your advice to OP by just selling the half and diversify it evenly and the rest just save up or open up a business that you can use for fronting so others won't question your money.
Anyway, OP you have a impressive portfolio and you're lucky that you bought yoyr coins before it boom and these coins are doing good lately.

[Kiweikoo]

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.

I must say that if you are earning this much amount of money, then it is not to quit. In fact, you can go for having more money as you know the trick of making more money in this field and that it can help you in having more money than your current earnings. Quitting will result in nothing more profitable and that it will stop all your earnings. So, think well and then make some good decision.

[Thanasis]

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.

I must say that if you are earning this much amount of money, then it is not to quit. In fact, you can go for having more money as you know the trick of making more money in this field and that it can help you in having more money than your current earnings. Quitting will result in nothing more profitable and that it will stop all your earnings. So, think well and then make some good decision.

No need to quit bro,if you have made huge money in crypto then why you are leaving.You can cashout your profit amounts then start again with little bit of investment or invest in some altcoins which will give you more profits in 2018.

[Cardan0]

This is definitely not the right time  to quit. More People are getting used to the crypto experience. I bet you may not make as much as 600K in the same time frame in the corporate world, unless you have a one-in-a-million idea to sell to the world.

It is not bad however to take a bit instead of staying all in. After all this is a risky market and if thing go south you may very well get a psychological impact if you loose an amount of money means something to you.

[milewilda]

Sell, pay your taxes call it quits.

why would you he quit bitcoin its still rising its like he has a property in a tourism area.keeps rising all the time

May be he would not like to take more risk now as he has make a huge amount of money and should sustain easily for the next few years and may be what OP can do is withdraw 50 % of the money to be on safer side and invest the rest in other coins to get returns.

Surely OP didn't expected what's happening now in his life like it didn't sink it yet that's why he's quite unsure if it's the right to do. I agree with your advice to OP by just selling the half and diversify it evenly and the rest just save up or open up a business that you can use for fronting so others won't question your money.
Anyway, OP you have a impressive portfolio and you're lucky that you bought yoyr coins before it boom and these coins are doing good lately.

You should really think off to build a physical business or offline businesses so that people wont really question you on your sudden progress when it comes to financial not only be means of avoiding possible conflict to others but also diversification is always a best choice for you to generate even more possible income.It isnt really bad to secure profits and playing safe. though.

[Florindvt]

I absolutely hate it when a bunch of people in a crypto forum talk about paying taxes.

I understand americans who are afraid from the tax men, and maybe some top 5 europeans. (german, brit etc.)

But guys come on, I taught people got into crypto to say FUCK YOU to these old world establishments.

Best

[ActionJackson]

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.

This is a pretty good advice. If 2018 is similar to 2017 then your 300k in raiblocks easily will become a million dollars.

[wulfrik]

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.

It all depends on what are your financial goals. If you're ok with what you have right now, then cash it out. But don't sell everything, keep at least 10% in crypto and let it grow. Personally, I would reinvest all my gains in other crypto or ICOs. Im pretty sure 2017 will be big.

[Kahhar]

How much did you spend on the crypto?
Take at least double that in profits.

Both crypto and the stock market have gone up to unprecedented levels; I strongly
suspect a retraction will occur in both within 5 years, but timing the market is a
fools game.  Decide on your taking profit levels and stick to them.

With those gains, diversify further into assets that generate income monthly, e.g., bonds,
mutual funds that invest in bonds (Pimco & Vanguard have some decent funds here),
rental properties, etc.

If you want to remain in crypto, redistribute some of the remaining profits into
Proof of Stake coins (if ETH ever gets around to implementing it; that's probably
a good one)--this way all you need is to leave on your computer and it
will mine more coins for you (no ASIC hardware and massive amounts of power
required).

[Andrey123]

You can give me a little, so that it would be easier on the soul)))

[felipe04]

OP 600k are just little you need to work more i think spend more time here in forum so you can earn again like that and i think base on your constructive post we need you here but that's your life do what you want i give only suggestion or option another thing if you have that kind of money i think i build a business by that for more secure and more good to my families future.

[Harlequill32]

Would the 600K profit enough for you? It depends on your decision. You have the control when to stop and still go on. 600K is a big amount of money, but I don't think it is still enough.

[HeroicZ1]

OP 600k are just little you need to work more i think spend more time here in forum so you can earn again like that and i think base on your constructive post we need you here but that's your life do what you want i give only suggestion or option another thing if you have that kind of money i think i build a business by that for more secure and more good to my families future.

Exactly... Congratulations on winning that amount. You must have invested and risked quite a bit to get it.. I don't think 600k would be good enough for retirement though, so reinvesting would be a good idea

[btcmegastar]

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.

Yes, even though we have huge amount it is not possible for us to withdraw them immediately because government  will demand more tax for your withdrawal. So we don't have any other choice.

[600kcrypto]

How much did you spend on the crypto?
Take at least double that in profits.

Both crypto and the stock market have gone up to unprecedented levels; I strongly
suspect a retraction will occur in both within 5 years, but timing the market is a
fools game.  Decide on your taking profit levels and stick to them.

With those gains, diversify further into assets that generate income monthly, e.g., bonds,
mutual funds that invest in bonds (Pimco & Vanguard have some decent funds here),
rental properties, etc.

If you want to remain in crypto, redistribute some of the remaining profits into
Proof of Stake coins (if ETH ever gets around to implementing it; that's probably
a good one)--this way all you need is to leave on your computer and it
will mine more coins for you (no ASIC hardware and massive amounts of power
required).

I invested about 10k, and am taking out 30k. Am Hodling the rest. Diversifying slowly, my coins have taken a real hammering lately, (as has everyone's), which is fine. Am happy Hodling  

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.

Yes, even though we have huge amount it is not possible for us to withdraw them immediately because government  will demand more tax for your withdrawal. So we don't have any other choice.

I can withdraw over $100,000 a week through coinbase where I am, but, like I said, am Hodling for now.

 

OP 600k are just little you need to work more i think spend more time here in forum so you can earn again like that and i think base on your constructive post we need you here but that's your life do what you want i give only suggestion or option another thing if you have that kind of money i think i build a business by that for more secure and more good to my families future.

I have been active on this forum for a long time already, I just set up this newb account to discuss money, I don't want people knowing how much I have on my other account, as people get jealous. I already have my own company my friend

[portotoi]

No no no, don't call it quits. Just still continue making money with your bitcoin. Just don't stop and continue to make money with the crypto currency world.

[Albert211994]

simply earning that much is calling quits already..

Quitter never wins. I think he knows what he is doing, so if he can make money before he can still make more money in the future. I say get some out of crypto, invest on real estates. Retain 75% in crypto and make it grow more.

[gandhe83]

OP 600k are just little you need to work more i think spend more time here in forum so you can earn again like that and i think base on your constructive post we need you here but that's your life do what you want i give only suggestion or option another thing if you have that kind of money i think i build a business by that for more secure and more good to my families future.

Exactly... Congratulations on winning that amount. You must have invested and risked quite a bit to get it.. I don't think 600k would be good enough for retirement though, so reinvesting would be a good idea

With 600k capital, you have a lot of opportunities to invest in this market, I think you can invest in good ICO projects, which is the trend of this market. You can also keep yourself a part of your daily commissions for more income, but remember to keep a fixed amount of money so you can redeem yourself when the coin is unlucky reduce value.