/biz/ - Business & Finance

>>12114464
>250k was serious money
lmao

>he didn’t buy bsv at 50$

>>12114464
HAHAHAHAHAHAHAHA I cant wait till she leaves him for a rich chad, how the fuck do you lose $240k in a year what a retard

HAHAHAHAHAHA
IMAGINE SWING TRADING THAT MUCH WITHOUT KNOWING WHAT YOURE DOINH AHHAHHHhHahhaahahahahAHHAAHH

>>12114464
>REDDITOR

Why doesn't he just ask his wifes boyfriend to get a job? If he worked too they would easily have enough income to get by.

>>12114464
>turned 2000 ETH into $10K
jesus fuck how retarded can this guy be?

That's like $3.5 mil in January and even like $300K now.

>"nothing crazy like margin trades"

As opposed to just shorting yourself constantly and losing all of your money gradually? Wtf?

>>12114474
you need around 2 mio $ invested in conservative stocks, in order to live a mediocre life on the returns of your investment.
As i see it, the guy was 1/8 of the way, now he is back to square one.

>>12114464
I don't understand this fascination with normies and ETH. They think ETH is some amazing project because all the scamcoins they bought cost ETH. Go on bitcointalk and every Pajeet (basically all their users) praises ETH and they all think it'll go back to $1000 and beyond.

What do we know about ETH? There's no max supply and they're planning on introducing Proof of Stake which will further devalue the coin. ETH will probably be used for payments and shit in future because anything that can be printed infinitely is likely to be stable (paper money, for example). It won't shoot up in price. It's possible for Bitcoin because there's only so much BTC. I fucking hate going on crypto forums and seeing all the
>buy eth sirs number 1 coin $10,000 one day
All the ETH the 3rd worlders buy end up in scam ICOs anyway and then the ETH just gets dumped. There's literally no reason to buy ETH.

HAHAHAHAHAHAHHA

imagine being such a fucking loser at trading you lose 95% of your portfolio.

HOW IS IT POSSIBLE TO BE SO SHIT TO LOSE 95% OF YOUR 6 FIGURE PORTFOLIO.

>>12114464
mETH is no joke. Fucking shitcoin

>>12114464

It's always the same story. Some guy who never had any kind of wealth in his life before stumbles upon paper gains. Because he has no idea how money works, he gambles his 500x to turn it into 5000x, loses all of it, and finds out people who speculate and have wealth are required to pay taxes.

>>12114464

I don't understand. This retard went out of his way to pay taxes and fucked himself over?

Did he keep making shit trades, losing money but racking up taxes. What did he do with the 250k he ashed out?

>>12114516
Vitalikitty himself said the days of 100-1000x are over.

>>12114515
what a bullshit with $2M you will live better than 95% of people without working

>>12114464
the absolute fucking JUSTening of this wreck of a man

i feel genuinely bad for him

>buy eth ico
>still find a way to fail

Wew

>>12114572
>cheats his wife due to greed
>hides it from her
and yet
>i feel genuinely bad for him

/biz/

>>12114464
>more signs of capitulation and retards being absolutely justd
nice, the bottom is closer and closer

>>12114582
he is but a mere fellow man
an idiot maybe, but still
probably loves his wife too

>>12114515
>mio $
>yuropoor kraut telling murricans how much money they need

>>12114581
yeah he's seriously fucking stupid. it has to be a troll or extremely low IQ

>>12114464
"Throwaway account obviously"
Who cares? Why do they always announce this?

>>12114464
This could be a scammer expecting sympathy eth

>>12114607
If he loved his wife as much as he loved money, he would have set aside enough to make sure his family's needs were met. There are plenty of people who have fucked up just as badly as him or worse but don't have well-paying jobs to fall back on, too.

It makes me feel better though in a way, because usually when you see these sob stories, the 'core' of them is always the same: people lost out because they were greedy.

Also, this:
>>12114581
You have to be /biz/ tier retarded to start out with 24 BTC and 2000 ETH and not make it.

>>12114464
>lost a shitload of money swing trading
>scared to tell wife

Sounds like every other degenerate gambler out there desu. Whether it's in a casino, sports betting, or swing trading, they are all degenerates who will end up losing in the end, unless they really know what they're doing. Most of them do not and are just greedy, continuing to try in order to make back their losses.

>>12114641

Low-IQ people aren't capable of the empathy necessary to connect with people. It's why they surround themselves with toys, boxes of mail order dildos, and value money more than anything else in the world, and are never honest with other people.

High-IQ people surround themselves with people in the same way a low-IQ person does anime dolls. They worship their influence, and their ability to create a long-term legacy.

>>12114532

chainlink tho

>>12114632
A big part of reddit culture is judging someone by their posting history

WOW $250k?? OMG after trumpflation it would take the average person 2-3 years to make that back.

>>12114563
Thats barely a flat in central London

>>12114516
>they're planning on introducing Proof of Stake which will further devalue the coin.
If youre being unironic youre an absolute brainlet

>>12114532

Based on awareness ya, he also said that adoption will drive the next great bull run now that most people are aware of crypto.

>>12114474
250k is quite a bit in savings retard.

>>12114806
Prove it

>>12114515
Dumb as fuck. With 250k he was at the upper echelons, most people don't have shit saved unless you're a baby boomer. He lost it all though so it doesn't matter

>>12114464
ATH 120k
Held all the way fell for capital gains tax fud and now have 20k. Decided to just say fuck it and go all in link. My 100k link stack is my last hope in crypto.

>>12114474
God stfu

>>12114474
250k without debt is very serious money retard.
Fucking tired of all the LARPing faggots around, in the US upper middle class you don't see this kind of net worth before at least your 30s.

Besides this guy at ATH had a bit less than 3 millions if he held.

>>12114464
so wait, he "cashed out" and paid taxes but didnt really ever "cash out?" huh?

>>12114800

Who gives a shit about fucking London.

>>12114515

2.5 mio. USD is the golden number to make it.

>>12114800
or it is barely a bottle of Russo-Baltique Vodka

if you are not dumb you will have no problem to live like king with $2M

>>12114641
>If he loved his wife as much as he loved money, he would have set aside enough to make sure his family's needs were met. There are plenty of people who have fucked up just as badly as him or worse but don't have well-paying jobs to fall back on, too.


imagine making a life changing about of money and not taking out even 10-30% just in case the rug gets pulled out from under you. if i had something like 2 million in my crypto account at the all time high even if i was mega-bullish and thought that 2 million could become 20 million "just wait and see!" id at least try to take out a couple hundred thousand to lock in some gains.

>>12114464
How are people so fucking bad with money? 500k and you're well ahead of the vast majority of people but you faggots piss it away like it's nothing

>>12114479
Npcs like that guy are mentally inflexible. He originally had eth so eth is the only thing he considers

I doubt they realize that they can use something they don’t ultimately want (bsv) as a vehicle to get more of what they actually do (eth). Actually as I think about it, a lot of biz is retarded like that too

>>12114474
>t. Autistic neet living w/ mom

i dont know whats worse, this guy or the people posting here today that think they're still going to make it buying this late into crypto.

>>12114900
I had close to $120k ath and almost fell for the tax fud too. Decided to cash out $90k to pay off school loan debts in January. The remaining $30k is down to almost nothing.

>>12114464
dude shoulda just bought some gold and buried it in the ground and he would be much further ahead right now

>>12114502
easy money easy go

>>12115101
Dude there is no market for individual coins. You have to be a complete idiot to actually trade crypto. Either all crypto goes up together or falls together. Look at every bull and bear market of the past. There is no reason to trade around specific coins, just buy something with some decent market share and hold it

>>12114464
That grey rectangle
>STRATEGY
AHAHAHAHAHAHAHAHAHAHA

>>12114464
These people are lunatics and deserve to feel the consequences of their lunacy. It’s one thing to be young and single and dump 3/4ths of your savings. You’re still young, you can recover. But pulling this shit when you have a family? Idiot.

>>12114521
Everyone sucks at trading when they start, but this moron decided to gamble a fortune away.

>>12114641
>You have to be /biz/ tier retarded to start out with 24 BTC and 2000 ETH and not make it.

I hear this a lot from latecomer fags. Hindsight is 20/20. I’ve had a similar amount of crypto in the past, sold too early, but at least I made money unlike these newfag December buyers

>>12114464
it's just a troll from here lol. people in the real world aren't actually buying video game coins with their real money. Why would they do that

>>12115270
True for most about trading.

But generally false for anyone with actual trading experience (only a handful slum on biz, but more people make a living doing this than you’d think). A shitcoin called syscoin was up 60% in total yesterday for example. Do I care about what syscoins future is? no. I care about the fact it pumped and I identified it early enough to profit. I’m doing the same with waves right now. Tomorrow it will be something else, and so on.

Holding any coins without the intent to sell in a bear market is financial suicide. But I’d more or less agree with what you’re saying in a bull market.

>>12114464
wait...so he had over 3mil at the peak? AND HE DIDN'T SELL? WTF

>>12115541
ackchually he is larping faggot, who want to persuade whales to start bull market.

>>12114464
>playing with altcoins when you have a wife
what the fuck niggers, this is all fun and games but when you actuall settle you stop playing wiht that shit
imagine that one day your wife tells you that all of your savings are lost becasue she invested in some shit coin

>>12115246
how did you cashed out without the taxman with his finger in your pooper?

>>12116104
He Doesn't Live In america Of Course

>>12114464
>paying taxes
>not just holding 2000 eth and 24 btc

By 'trading' he means he traded his btc and eth for shitcoins and held

>>12114516
Eth will have a hard cap of ~140 Mil and proof of stake with reduced inflation. Just so you know.

>>12114464

>I started trading

God, it feels fucking good to only just accumulate and relax.

>>12116187
dude you have capital gain tax in all the world
you have to pay 30% on the gain. period

for example if you invest 10$ and it goes to 100$, you have to pay 27$ to taxman

>>12114464
>Throwaway account obviously
people on r*ddit are such fags and they all need to kill themselves

>>12116311
False

>>12114581
This story is a good way to show that the early adopters and whales can actually fuck it up and die off. Even bitmain is fucked right now.

>>12114464
>Should have been millions
Kek'd.

I read about another guy just last month that did the same, he started trading because he wanted to increase his stack accordingly to the drop so he wouldn't really lose money during the drop in value by increasing the amount.. either way.. he didn't know shit about trading, he watched a few youtube videos of people day trading and he got fucked.
These people are just hopeless

>>12114687
found the 80 IQ

>>12114956
Could have moved to Thailand and have 2 wives and lived like a king for a rest of his life

>>12116311
You're so stupid it's amazing, it's not that simple, usually it's only above a certain amount, 5k where I live, above that you pay a percentage getting larger the larger the amount is

>>12114521
I lost 95% of my portfolio as I was new and late to the party, but that was only like 700$
Yes I was a brainlet buck then but I’ve improved myself and has now broken even

>>12114563
95% of people are third worlders

>>12114925
Welcome to /biz/

Everyone here is a fucking zoomer with student debt and living in their parents home.

>>12114464
>paid taxes from savings instead of cashing out a little to pay them

fuck, I fell for this meme too. good thing I didn't invest too much, but it's the only reason I'm down now, technically I'd still be up if I didn't pay taxes.

>>12116608
>getting larger the larger the amout is
kek wtf

>>12114464
That's what you get for stealing our GPUs.

I can’t believe so many people on here actually fell for the tax meme when there is literally no enforcement that’s how cucked you are

>>12117064
>100k appears magically at your bank acc
>tax people doesnt come to ask where you get it
thats how it works. thats why money laundering exists

>>12117064
people actually have been audited from cashing out through coinbase, which is the most straightforward way to do so in the US. everyone who cashed out over $20k in 2015 got audited, and coinbase is probably going to continue sending records to the IRS for each year. even if you use something other than coinbase, your bank will have records of a transfer of a large sum from some exchange that the feds will have questions about. during the bull run cashing out well over $20k was a real possibility for some (and for others still is), for such people paying taxes was the safest move, though paying out of savings instead of cashing out a bit was clearly a risky decision that backfired.

>>12114464
Since he says he posts a lot someone should try using one of those text style reverse lookup tools so we can dox him. We need to let his wife know. It’s the right thing to do.

>>12117064
>>12117193

So wait, this fucking retard had tons of ETH and BTC, sold them all for shitcoins, and then decided to waste all his fiat reserves paying taxes on unrealized gains right before a giant dip?

Why the fuck did he not just fucking wait till he actually realized his gains. Did he fall for the crypto to crypto crap? Christ. I have no sympathy for people who go out of their way to pay taxes though.

>>12117244
crypto to crypto legally counts as a taxable transaction.

>>12117193
but not for long, since btc will go down hard from here

>>12114502
Taxes.

>>12117382

Yeah but you don't have to pay it immediately do you? Can't you just pay it all in bulk once you cash out into fiat?

Even if not, how the fuck are they gonna know you traded Shitcoin Y for Shitcoin X on Binance anyways?

>>12117064
oh kiddo, wait till you get an "getting audited" letter in your mail

>>12114494
Underrated

>>12117650
I hope you're right or we all gunna get KOS'd by the IRS

>>12117650
If you don't report every trade, they will assume a cost basis of zero and charge you a tax on that amount. If you report every trade after getting audited, they will tax you the amount you would have paid earlier, plus late fees. If you consider paying taxes to be like voluntarily getting fucked, Trying to avoid taxes is like voluntarily getting fucked by multiple times over.

>Even if not, how the fuck are they gonna know you traded Shitcoin Y for Shitcoin X on Binance anyways?

It's up to you to record your trades to the best of your ability. If the math doesn't add up, they make you pay taxes assuming a cost basis of zero.

Imagine paying taxes on imaginary internet money.

Does the IRS tax your WOW-gold too?

>>12114490
I lost 8 figures this year on eth

>>12117865
I know right

>>12117832
>>12117835

Christ that is fucked up. So glad I am not American.

Still, can't you just write down the trades and pay later once you cash out. Why go all the way to cash out savings to pay the tax before you have even realized your gains. Sounds unbelievably retarded. Do people into stocks do this as well during bull runs?

>>12114967
>if i had something like 2 million in my crypto account at the all time high even if i was mega-bullish and thought that 2 million could become 20 million "just wait and see!" id at least try to take out a couple hundred thousand to lock in some gains

Everyone says this. Everyone goes into these situations as logically as they think they can. It's different when large sums of money are sitting there. Greed can take over.

>>12114967
Right? The first cashout I did was in late 2017, getting my principle back so that I could keep trading without worrying that I was losing money. Most people were too greedy to do this.

>>12114502
You forgot the 24 bitcoins.

>>12115306
I had 50btc in 2012, I spent it all on weed, ketamine, lsd, shrooms and adderall. I also threw 1btc into satoshi dice because why the fuck not.

>>12114464
>What should have been millions!
It's entitled pieces of shit like these that ruin investments for everyone since they'll go straight to the gubmint and complain which would lead to regulatory implementations.

>>12114967
what's that story about the squirrel preparing for winter? there's nothing more natural than getting buttfucked by a rainy day.

imagine using the word trading when you should have used gambling.

>>12118265
https://www.youtube.com/watch?v=pawyZFjgFyw

>>12114464
>feels like a failure
>parlayed 2k eth and 24 btc into $10k
>feels like a failure
>too greedy to take profits from crypto
>feels like a failure
>takes money out of savings instead for taxes
>feels like a failure
>has no idea why this happend
>feels like a failure

The best part is he kept on wondering how he ended up in this situation without admitting he's a turbofailure. I hope people laugh and point at him over there.

Have 250k. Be unhappy and greedy. Yep universe played out.

>>12114800
oh no so you can't live in the worst city in all of england what a tragedy

>>12118346
Underrated post. Have some tits.

No but like, you know? You got it. ETH redditor has no self-awareness.

>>12114474
the faggot larps acting like 250k is not much for them. you're all so fucking pathetic

SOMEONE HAS TO LOSE

>>12114521
because he probably thought he was a fucking expert just because he bought early. lots of "whales" are like this guy. got lucky and dont actually have decent knowledge on trading, but the confidence from buying early mistakenly makes them believe they are experts so they start making retarded shit

>>12114474
you are a fucking retard

>>12114515
>you need around 2 mio $ invested in conservative stocks, in order to live a mediocre life on the returns of your investment.
This is simply not true no matter how many times you retards say so. For example I live in a Scandinavian country where average salary is less than 40k = you can live a great life with around a mil or less. Needless to say Scandinavia quality of life beats US easily

>>12118478
I had a friend like that. He was an early adopter, had crypto since 2013. When crypto mooned in 2017 he put most of what he had into a shitcoin most people have never heard of, NMC, because he thought he was a genius and any pick he made was going to be a winner. His reasoning was that because NMC was once worth more than BTC, when the masses finally realized it existed, it was going to 100x+.

He lost everything, just like Reddit OP.

>>12114464

>I can't imagine the disappointment my wife will feel.

That will only last until she uses the $10k to hire some real bulls.

>>12114687
Based on research or anecdotal? Retard

>>12118173
>Coin appreciates in value.
>Use it to buy other coins that you couldn't afford before.
You just "realized" gains. Or do you think that people buying everything with gold and silver should never be taxed?

>>12118799
Based on going outside. You should try it at least once before you KYS, for Jesus.

>>12114474

That feel when from a working class area and background in the UK. Most people round me would dream of getting £50k. They pay their mortgage until death, spending most of their time and 'spare' change down the boozer. $250k liquid assets would make me richer than 99.9% of all the people i ever knew or grew up with. My parents have only just got that after working literally their whole lives and they feel flush now.

Ah well. Guarantee people from backgrounds like me will enjoy it so, so much more when we make it, even if it isn't a 'fortune' by some standards, to the point where you literally could not comprehend nor understand why.

t. coal miner genetics

>>12119064
Anecdotal, then. Got it.