Where are the millionaires ?

MyPeopleDrankTheSoup

i'd be more worried about the coins being stolen than price plummeting. is that a constant fear? and if not stolen, maybe losing the private key, and them being as good as stolen

SlowBlowin

Yes, I have already lost a lot when wemineltc went, and a bit when BTC went but I got most of that back.

SB

ZeroThreat

SlowBlowin wrote: »

I am yet to cash out.

I hold a lot of LTC (5 figure amount of coins), plus some BTC and ETH.

The stress is huge for me, I have a sell figures in mind and when that hits I am selling 50% of my holdings and thats me set.

At the moment I am a physical wreck, checking prices every 2 minutes at most, for about 18 hours a day. Its been like this for a few months, which seems like years. I can be found in dark corners of Kerry pubs looking at my phone, and in a constant daydream.

To me this is a life changing event and if I can cash out it means everything, I hope it happens soon as this is taking years off my life.

SB

5-figure number of coins?

If you're talking about number of coins, that's 10,000 LTC minimum, which means you have about €2.7M in litecoin alone.

And you don't want to cash out anything yet? :eek:

SlowBlowin

I wish.... I did not want to disclose my holding and kept editing the post, but its 4 figures... my mistake..

My cash out is at 1 million euro, at which point I will cash out 50%, its not that far away hopefully.

SB

MyPeopleDrankTheSoup

wow! congrats

any tax planning? paying 33% of profits would kill me. paying out to a limited company? doing a DOB and moving to malta?!

asteroids over berlin

SlowBlowin wrote: »

You obviously are able to cope better than me.. I am known as worrying too much..

I was a miner not an investor.

Do you have an exit/price plan ?

SB

i have not made as much as you, however my only plan is to pay off the 2 mortgages we have then hodl the rest with the hope of being financially secure and quit our jobs. I imagine being mortgage free would more or less set anybody up for life - living non extravagant life, especially renting a 2nd property. So that's the plan, capital gains tax is painful, we are basically waiting now to get about half of the cgt money and then we can do the first part of the plan. I do believe in the projects i invested in though, which is easy enough to say as my top 4 coins are more or less in the top 5 coins. I would also like to invest more in a few more coins, Litecoin and Lisk. See how it pans out, i understand the nervousness though Best of luck

Perhaps a law wll be passed which will waiver the CGT or lower it but i don't see it happening soon, i am prepared to pay CGT and the government can then stick it. I am happy enough to wait around for another avenue to cash out if the laws don't get more realistic. Inheritance tax also is about 33% - archaic tax system

The One Doctor

georgiecasey wrote: »

wow! congrats

any tax planning? paying 33% of profits would kill me. paying out to a limited company? doing a DOB and moving to malta?!

Unfair to ask. We're all law abiding citizens with responsibilities to our country. I worry when I have a 20 LTc exposure. When I have a 10,000 LTC exposure... oh god...

Dohnjoe

SlowBlowin wrote: »

I am yet to cash out.

I hold a lot of LTC (5 figure amount of coins), plus some BTC and ETH.

The stress is huge for me, I have a sell figures in mind and when that hits I am selling 50% of my holdings and thats me set.

At the moment I am a physical wreck, checking prices every 2 minutes at most, for about 18 hours a day. Its been like this for a few months, which seems like years. I can be found in dark corners of Kerry pubs looking at my phone, and in a constant daydream.

To me this is a life changing event and if I can cash out it means everything, I hope it happens soon as this is taking years off my life.

SB

Only every 2 minutes? those are rookie numbers, you have to pump them up

In all seriousness most people are going to financial advisors, many seem to be selling in portions to avoid hitting one bad day or sudden dip

smacl

asteroids over berlin wrote: »

Perhaps a law wll be passed which will waiver the CGT or lower it but i don't see it happening soon, i am prepared to pay CGT and the government can then stick it. I am happy enough to wait around for another avenue to cash out if the laws don't get more realistic. Inheritance tax also is about 33% - archaic tax system

Why? I get giving tax breaks to those creating employment, exporting, or producing within the economy. Trading coins, not so much. Anyway, fair play for being prepared to pay it, and hope it all pans out for you.

scopper

Bitcoiner since 2010 here, most of the early adopters started going quiet on bitcointalk around 2014, likely out of fears of hacks, which kicked off around then on big holders.

dartboardio

I don't have any stories about bit coin or cryptocurrency, all this that's going on lately is another language to me!
But my boyfriend is 'into' the stock markets, now he hasn't made anywhere near a million but a few years ago he put a grand or two in, and some did fine, now he can decide on a whim to 'sell' one, and a few weeks ago 800 quid was in his account within five minutes! And he has a few more that are worth around the same.


Safe to say I was astonished, I'd love to get into buying shares or whatever myself but can't get my head around it.

frag420

I have been talking to my colleague about this a lot recently. He put about £1000 in across several coins at the start of November, he has already pulled out about £1100 with his initial outlay still intact. He said he accidentally netted in futures(his words, I don’t understand it) one evening on his way home from the office and that bumped his earnings over the last few weeks!

However his neighbour is a different story, this guy apparently has made a small fortune, recently paying cash for a McLaren and has bought some property in cash also. Numbers in the region of £13m+ he has made in last couple of years. He works in finance so seems to know what he is doing. While I’ve taken this with a pinch of salt my colleague has no reason to lie so it seems legit!

We are hoping to sit down with him early Jan to discuss how he did it and a strategy for 2018.

august12

frag420 wrote:

We are hoping to sit down with him early Jan to discuss how he did it and a strategy for 2018.

Will you come back here and pass on some of that advice to us, or pm to me if you don't wish to share publicly, thanks in advance.

GreeBo

august12 wrote: »

Will you come back here and pass on some of that advice to us, or pm to me if you don't wish to share publicly, thanks in advance.

I'm going to go out on a limb here...it will be "buy btc before it jumps by 3000%"

seannash

Not sure how much of a strategy they could provide, the biggest strategy most people have it buy coins associated with good tech or tech you believe in and hodl.
Last year people who did that made huge profits, 2018 will be lucky to repeat that but it still is possible.

frag420

august12 wrote: »

Will you come back here and pass on some of that advice to us, or pm to me if you don't wish to share publicly, thanks in advance.

I would be happy to! I just remembered that he told my colleague to jump on Iota(I think) in mid Oct but alas he didnt do it then and from what I have heard he missed out!

I will come back should we get the chance to sit down with him as I have a lot of learning to do myself on this and every little helps!!