/biz/ - Business & Finance

[Anonymous No.9338200]

Why do so many people cash out their crypto once the hit 1 million usd? Call me greedy but I think its retarded, and if you aren’t a high earner in your job and barely make amends wagecucking you're not l going to make it with a million buckeroos. This is a once un a lifetime opportunity and people decide to drop it once they hit 1mm.. Is this just scarcity mentality ingrained in our brains After years of wagecucking?

[Anonymous No.9338227]

Life has unexpected events... Surgery, accidentes, diseases, children to feed, school. To pay, divorce... 1 million is nothing

[Anonymous No.9338282]

>>9338227
1 million gets you a shit shack in Toronto or Vancouver
4 mil is ideal

[Anonymous No.9338324]

>>9338282
>making it
>living in a city

[Anonymous No.9338389]

>>9338200
some ppl wont make that much money in their whole life boi

[Anonymous No.9338514]

>>9338200
>Why do so many people cash out their crypto once the hit 1 million usd?
literally where did you get this from...

there's no one that waits until 1m to cash out unless they're already well off. your average investor starts cashing out when they hit 20k or something.

you don't wait until you hit 1m to cash out, you cash out along the way retard, it's called securing profits

[Anonymous No.9338551]

>>9338514
You are sacrificing exponential growth on top of those profits, retard

stay poor

[Anonymous No.9338622]

>>9338551
>Implying growth is guaranteed

Never gonna make it

[Anonymous No.9338642]

>>9338200
Some of us are living in poverty and are sick of it. I've been saving and accumulating crypto since 2013 and amassed almost half a million worth. I still live with my parents and approaching 30. For all we know, crypto could take another 10 years to take off. Of course I want to keep a lot of money on crypto, but I want things in life such as a house and nice car. I'm sick of this impoverished lifestyle and it's humiliating and degrading.

You can't buy TIME, anons.

[Anonymous No.9338656]

>>9338514
securing shit profits*
20k is chump change in the grand scheme of things

[Anonymous No.9338696]

>>9338514
What do you even cash out at 20k? I'm a poor student but cashing out something like 2k doesn't improve my life in any way, it's like a month's paycheck. Literally no reason not to keep it growing.

Cashing out more would reduce my stack too much. I'll start gradually cashing out at 100k to buy a car and shit but until then it's all-in crypto.

[Anonymous No.9338766]

>>9338642
Agree with you mate. If you half a mills worth there's no point wasting your youth living like a bum.

I'm 100% sure someone like Gate or Buffet would pay billions to be 20 years younger. Youth is valuable as fuck, wasting it is far worse than wasting money.

[Anonymous No.9338868]

>>9338282
>1 million gets you a shit shack in Toronto or Vancouver

God job I don't intend to live in fucking Toronto or Vancouver then isn't it.

$400k, will get you a perfectly nice house near where I live now.

[Anonymous No.9338944]

>>9338200
Having 5 million dollars in a coin is the equivalent of 0 euro's until you cash out. Thats why. Cash out and you have 1 million , wait and you can lose it all

[Anonymous No.9338947]

Whats everyone ideal split? 50% money in the bank and 50% in crypto?

[Anonymous No.9338994]

>>9338656
Yeah, but for the average person it is a big nest egg.

[Anonymous No.9339015]

>>9338200
It's scarcity mentality, 90% of the population is fighting for crumbs on a daily basis. This is also why most lottery winners fail and poor people blow any extra money they have on shit.

[Anonymous No.9339042]

>>9338200
I got to 1 mil in Jan. Fuck cashing out, I'm riding this to the moon or hell.

[Anonymous No.9339049]

It feels a lot different working when you own your own home and have stacks behind you.

[Anonymous No.9339094]

1M is late adopter goals.
1B is early adopter goals.

these are realistic, if 1B isn't realistic for you, you're not as early as you think you are.

[Anonymous No.9339097]

>>9338200
1. the difference between 1MM and 0 is far greater than the difference between 1MM and 3MM

2. It is easier to 50x 1k than to 2x 1mm

[Anonymous No.9339118]

>>9339094
not even Ver will see 1B

[Anonymous No.9339176]

>>9338642
Posts like this make me bite my ass for not putting at least a small amount in crypto when mgtox became an exchange for that shit. That's probably the reason why people like me are obsessed with finding the next Ethereum. It pumped to such a high price within such a short time period.

[Anonymous No.9339180]

>>9338389
Maybe if you live in a shithole country. 1mm is nothing in developed countries.

[Anonymous No.9339204]

>>9339118
that'll be because he's all in bcash.

a decent early adopter only needs < 10x to hit 1B.

[Anonymous No.9339240]

>>9338200
It's not a bad idea. Cash out 800k, leave 200k in the market split across a mixture of promising projects, low mcap tokens, and maybe 1-2 BTC to day trade with so you don't fuck with your longs. With 800k in cash you're secure for a few years if you maintain your previous standard of living (with maybe one or two luxury splurges) and you can comfortably wait for your longs to do 100x+. Then you'll have a few more million and from there you can leave maybe 1 mil in crypto, stick 1-2 mil in the bank and start looking into other investment opportunities which require higher starting capital than crypto.

[Anonymous No.9339244]

>>9339176
there's still yet to be anything of the importance of bitcoin or ethereum since ethereum launched. everything trying to be a "better ethereum" will fail for the same reason everything trying to be a "better bitcoin" failed.

money. smart contracts. ?????.

[Anonymous No.9339265]

Cuz they're all NEETs and never learned how to math.

[Anonymous No.9339277]

>>9338200
1 million is enough to move into more stable investments to continue to make passive income without the stress of crypto volatility.

[Anonymous No.9339285]

>>9338200
1m + a decent wagecuck income and you are set for life if you reinvest that Money into some safer assets.

Clearly you have no Idea about money and crypto is most likely your first and only Investment

[Anonymous No.9339286]

>>9338324

kek. that's my thought. my ass is firmly parked on enough land that I can live off grid with my crypto gains. fuck paying the man more than you need to man. what's the point of making it if you're still just a cuck?

[Anonymous No.9339294]

>>9339244
chainlink....

[Anonymous No.9339303]

>>9339244
unironically holo but the team might turn out to be shit

[Anonymous No.9339351]

>>9339294
chainlink is a broken oracle platform reliant on smart contract platforms, it's not the next big thing.

[Anonymous No.9339363]

>>9339303
i haven't looked into them but from what i understand they're yet another money/smart contract platform?

[Anonymous No.9339394]

>>9339363
it's another PnD platform play
>>9339244
i don't believe in the supply chain coins but the ones looking to disrupt finance/banks are worth playing.

[Anonymous No.9339396]

>>9339180
I live in a developed country and can tell you that's bullshit. Wisely invested it can improve your living standard.

[Anonymous No.9339443]

>>9339394
a supply chain coin is basically a specialized smart contract platform, so i don't see a whole lot of value in them when the only people that need supply chain monitoring are large companies, not individuals, or small businesses.

[Anonymous No.9339450]

>>9339396

$1million = 4+ income properties in a rural area = retirement debt free

if you're not a brainlet you'll do fine on a million. if you are a brainlet you'll cash out your crypto gains as soon as you hit a million and then blow it all on dumb shit like lambos.

[Anonymous No.9339468]

>>9338622
Stay angry blac boi !
I will makeit™ if I believe enough.

[Anonymous No.9339493]

>>9339363
No its a larger platform that's not focused on money/smart contracts. Their proof of concept app is a decentralized version of twitter (which looks like shit and is full of cat pictures because a fat boomer was involved). I don't currently own any of the token but it has a lot of potential and they have alphas available for download showing the concept works.

[Anonymous No.9339497]

>>9339097
50X > 2X

[Anonymous No.9339499]

>>9339244
True. It has to be a paradigm shift again like decentralized money ->> programmable money ->> X??

[Anonymous No.9339518]

It depends on where you fucking live

[Anonymous No.9339529]

>>9338282
who would want to live in those shitholes?

[Anonymous No.9339536]

>>9338947
That's what that huge BTC mine owner chink does

[Anonymous No.9339599]

>>9339493
interesting, still, i think without a financial foundation, any of these newer concept blockchains are going to have a hard time competing with second layer networks on highly valuable and highly secured base layers like ethereum.

it's at least a decade too early to be expecting social media like blockchains to get enough users to become self sustaining.

[Anonymous No.9339640]

>>9339450
Well you wouldn't pay cash for the properties meaning you could invest the one million and take out mortgages, it's even more solid essentially the money allows you to borrow more allowing you to make mad gains in the fiat world

[Anonymous No.9339652]

Watch the parabolic uptrend of the entire market cap. Once that breaks you should cash out, whether that be when you’re at $1MM or 10MM

[Anonymous No.9339814]

>>9339599
nice fud m8 r8 8/8

[Anonymous No.9339847]

>>9339814
it's not fud if you can't explain why this token is different.

[Anonymous No.9339896]

>>9339847
no I cant, sorry

[Anonymous No.9339899]

1 million with an average market return gives you like 85% of the median American salary AND grows (maintains) the principal against inflation


It enables the average person in a flyover state to work a part time job at most and still live a normal life, putting them in a state of semi-retirement

So, to me, it's understandable

[Anonymous No.9339962]

>>9339652
>Watch the parabolic uptrend of the entire market cap. Once that breaks you should cash out, whether that be when you’re at $1MM or 10MM
didn't it already break?

[Anonymous No.9339973]

>>9339493
>tries to explain to other anon what Holo is
>talks about decentralized Twitter instead of thousands of other things that make this platform great

[Anonymous No.9340028]

>>9338324
>>9339286
>thinks making it means living in a remote area isolated from human progress
kek hope you're happy living in your little world with your chump change

[Anonymous No.9340062]

>>9339351
>broken oracle platform

go on..

[Anonymous No.9340310]

>>9339180
then how come almost nobody has that much in developed countries? like top 1-5% max

>>9339204
yeah and any decent early adopter is in btc/eth and those are not about to 10x anytime soon
even if they did, how many do you really think can cash out 1B?

[Anonymous No.9341104]

>>9338200
2.5-3 million USD is my target to cash out. My portfolio is only worth 80k at the moment so that's never going to happen unless NEO and OMG moon 30x.

[Anonymous No.9341148]

>>9338947
After having saved so much fiat that I could live two years of it, I would put my whole income after living expenses into a cryptocurrency that I have trust in. Of course, before I've reached that point I would've bought at least a small amount of crypto just to make sure that I won't miss out on a big pump. Then I would cash out a million the moment I can and invest that money in assets that throw off at least 5% of which I reinvest only enough to even out inflation, the rest is used for cryptocurrency speculation.

[Anonymous No.9341595]

the truly wealthy find ways to make their money work for them. 1m can put you in this category if applying basic principles.

[Anonymous No.9341642]

>>9339973
Name one then.

[Anonymous No.9341680]

A conservatively invested 1 million dollars can yield you about 40-60k a year in passive income. Considering the average annual income in the u.s. is about 35k you can figure out for yourself why people walk away with a million.

[Anonymous No.9341706]

>>9339599
It is early for it. That’s why it has lots of growth potential. It’s also early for ETH to have widespread adoption but here we are.

[Anonymous No.9341738]

>>9338200
cause you start to feel safe.
yes you can aim much much higher but you have to understand the starting point of most people is miserable. one million for me would be crazy. my life would change completely.

[Anonymous No.9341816]

>>9338200
I don't think there's "so many people". What I've seen happen is that someone hits a milestone and then they take a chunk out and keep playing. There's people who go all out but they either come back or start posting on /r/buttcoin. My impression, I don't really have numbers. Turning 200 into a car is not shitty either and if you've lost faith on the thing I can completely understand leaving as well.

[Anonymous No.9341841]

>>9338200

Nigga I just want to buy my house off. As soon as I make enough to pay off my debt and house I'm ghosting out of crypto. I'm perfectly happy with the prospect of renting out my house to pay my bills. Sure, I won't be rich but I'll live as comfortably as any neet.