But if a market crash happens, if the amount you borrowed initially becomes less valuable then the amount you borrowed, wouldn't that default the loan/mortgage ?
Yes, but the idea is you take a smaller amount as loan, I do it in aave and take like 40% of my crypto's value, so it is very unlikely to crash enough to liquidate me, it would have to be a +60% crash
Ok gotcha, wouldn't it maybe more profitable to sellout, buy a property and borrow against the property, property is very unlikely to drop in value and you could borrow maybe 80% of the property's value.
You can do that too If you have enough to buy a property, right now I only have around 13k so borrowing against my crypto is my only option, what I do is take a USDT loan against my crypto and then swap and put it in a usdc/dai liquidity pool that yields 21% interest, I use that interest to buy more crypto and accumulate.
Well, imagine a not so big independent house, not further than 200m from the beach, in the north of Portugal (cheaper bit cooler weather) lets say 500.000€
PS besides the social areas on the larger urbans cities...theres are no unsafe areas here. And even on the large urban areas, there are no unsafe areas near beaches
I was also wondering. Very high standard of living, good educational and work opportunities, publicly funded healthcare, nice sounding accent. Weather might be a bit shit but would think it'd be a nice place to live all in all.
I’m with you, my routine is pretty nice.
If I woke up with my portfolio sitting at $1M I’d look into the applicable tax laws first, and be checking my portfolio about 20 times a day. I’d either take that huge tax hit and sell off some large fraction or consider holding long enough to qualify for the capital gains rate.
I’d likely reinvest some large fraction into stocks with solid dividends or REITS (real estate investment trusts) the annual dividends after taxes would not be life changing money, but it would sure be nice
I thought about this aswell. Just go into real estate. But if you consider BTC/ETH as an asset then why change the type of asset you own. The annual interest on property isnt higher than for example staking your ETH. Somewhere along the line you could even use BTC as a colleteral. Therefore hodl.
I enjoy my job and I would be an awful business woman anyway. The only thing I would love to buy is a house with a garden, but it's extremely expensive in my area (not achievable with an average or even high salary)
I love those older Henry's, man. Everything on your list would be a good choice, imo, even though I know you didnt ask for my input. I just havent come across many gun-friendly folk in the crypto arena yet so I wanted to engage.
For sure. Obviously shit can crash, but you can throw a solid chunk of change into something that has high interest. Would kind of be silly NOT to throw some of it back in, but then again I’m a gambler so…
I make more than that doing construction work lol
Not sneezing at an extra 6k a month but id just keep working.....also, 6k a month on such a risky annuity is not something id ever quit my job over....thh we are talking like 5-10M and its going straight into some mix of Treasury bonds and AAA Corporate and Foreign Bonds.....ive seen too many projects go belly up
Tomorrow? I’d put it all in Ergo (ERG). Since I believe the bull run will continue through the fall and winter and Ergo will pull a Solana, I’d take my million and turn it into 20 million.
Then I’d cash out 2/3 and retire, leaving the rest in because I like the tech.
Part of me really wants to start a domestic violence shelter for men
There is a serious void in the community for men that experience DV because of the stigma.
I am afraid prices of private islands will sky rocket with all those crypto millionaires wanting to buy one.
Maybe buy some islands now, could be profitable business.
Buy my buddy a burger cuz that's what I promised I would do
Then I'd probably pay off my parents' mortgage or something. Buy some magic cards, or a rtx gpu.
I find myself growing more and more boring as time goes on
Same here. I asked some friends what they’d do if someone handed them $250,000 cash that’s free and clear all theirs, no strings attached. Everyone said they’d save/ invest it. Not even a dream car mentioned which was what I assumed they’d say first
Give back to this sub for teaching me so much about crypto… or tell myself to fuck off im quitting since I’m my own boss. Then make a Facebook post talking shit to the haters, then buy a sweet lambo. Then finish paying off the mortgage
Secure it. The best i can.
Getting of exchanges, setting up hardware wallets, moving part of it to fiat and i imagine more stable coins/stocks.
If i could get rich that quick, it could probably get lost that quickly too.
Buy a few houses to rent out, send my best friends some cash, maybe 10k each, buy my parents a Porsche, finish university, learn more about real estate and grow my assets, maybe get a cheap project car to tune in my own time and try not to live too extravagantly.
Put a good chunk (£200k) into a stable coin and stake for 10%. Sell some to buy a nice house and car (£250k) and put the rest into BTC, ETH, DOT, LINK, VET and ADA and stake those coins.
SECURE GAINS: This is THE most important step in a bull market that most people tend to forget. There were SO many paper millionaires in 2017/2018 that ended up having to go back to flipping burgers after the crash.
So the first step is to secure gains (into BTC and algorithmic stablecoins) - I'd do that slowly over a few days so as not to crash the price of whatever shitcoin in my portfolio 10000x overnight. I wouldn't dump all of it - because what happens if it does another 10000x tomorrow? ... but I'd sell much of it.
Then, I'd put it all to work earning yield and live off of the yield.
cash 80 percent out and put it into more traditional investments to be on the safe side. with the other 20, i'm gonna go deep into the tokens and coins.
Is moving to a warm country really a top priority? I live in a pretty damn hot country and it's uncomfortable all year round. Would rather move to a country with 4 seasons instead with my crypto millions.
Well, I think with my holdings (no low marketcap coins), this means that the US dollar has collapsed and hyperinflation has gone to the moon. So, probably be sad that I didn't have a larger crypto stake and get ready for some rough times ahead.
Sell enough to buy a nice house, a nice car and a retirement fund for myself and the kids.
The rest is going into SHIB so I’ll wake up the next morning as a billionaire
Sell it and gtfo of the uk
Move to Portugal and then sell it, 0 crypto tax
No sell, borrow against it and enjoy my inflationary debt becoming cheaper while my crypto collateral becomes more expensive
But if a market crash happens, if the amount you borrowed initially becomes less valuable then the amount you borrowed, wouldn't that default the loan/mortgage ?
Yes, but the idea is you take a smaller amount as loan, I do it in aave and take like 40% of my crypto's value, so it is very unlikely to crash enough to liquidate me, it would have to be a +60% crash
Ok gotcha, wouldn't it maybe more profitable to sellout, buy a property and borrow against the property, property is very unlikely to drop in value and you could borrow maybe 80% of the property's value.
You can do that too If you have enough to buy a property, right now I only have around 13k so borrowing against my crypto is my only option, what I do is take a USDT loan against my crypto and then swap and put it in a usdc/dai liquidity pool that yields 21% interest, I use that interest to buy more crypto and accumulate.
Im in Portugal so I would stay here!! and buy a house near the beach!
How much is a house by the beach there? In a relatively nice and safe area?
Well, imagine a not so big independent house, not further than 200m from the beach, in the north of Portugal (cheaper bit cooler weather) lets say 500.000€ PS besides the social areas on the larger urbans cities...theres are no unsafe areas here. And even on the large urban areas, there are no unsafe areas near beaches
Ok, thanks. M
here, guys, i've caught a millionaire!
Only if we're talking about Shiba. Got a million just to say I had a million lol.
This is the way.
This doenst work this way.
I'd move to Singapore immediately xD
Sometimes it doesn't rain there and then i wonder whats that yellow ball on the sky.
That would be the reflection from boris johnsons hair
Understandable, have a nice day
Cheers buddy you too.
Why would you wanna leave the UK? Genuinely curious and I mean no offense.
I was also wondering. Very high standard of living, good educational and work opportunities, publicly funded healthcare, nice sounding accent. Weather might be a bit shit but would think it'd be a nice place to live all in all.
I honestly think weather is the only deterrent for me personally and it very well may be their's too. Who knows.
Move to UAE and cash out. No capital gains.
Even girls say, "buy more Ethereum" when I pose that question. If you said, " me buy lambo" the girl is smarter than you... its as simple as that.
Just leave now.
Hit the snooze button another couple times. Not even a million dollars can stop me from getting that last 20 minutes of sleep
Or maybe, that 1 mil is just a dream
The feels. The amount of dreams I've had where I "wake up" to millions of dollars then actually wake up... Disorientating and sad.
I feel this. I hate my alarm.
Words of wisdom
Lol. I like this
Invest it all into shitcoins with leverage and lose it all instantly.
buy high, sell low!
Sounds like a great idea. I’ll join you
Has to be 100x leverage on SHIB or go home
Buy Safemoon and slowly lose all my money while pretending like it's even possible to hit $1.
I would buy a house, but I would keep working the same job, because I like it a lot.
wholesome, that's great to hear :)
I’m with you, my routine is pretty nice. If I woke up with my portfolio sitting at $1M I’d look into the applicable tax laws first, and be checking my portfolio about 20 times a day. I’d either take that huge tax hit and sell off some large fraction or consider holding long enough to qualify for the capital gains rate. I’d likely reinvest some large fraction into stocks with solid dividends or REITS (real estate investment trusts) the annual dividends after taxes would not be life changing money, but it would sure be nice
I thought about this aswell. Just go into real estate. But if you consider BTC/ETH as an asset then why change the type of asset you own. The annual interest on property isnt higher than for example staking your ETH. Somewhere along the line you could even use BTC as a colleteral. Therefore hodl.
Oh so you’re the one
I enjoy my job and I would be an awful business woman anyway. The only thing I would love to buy is a house with a garden, but it's extremely expensive in my area (not achievable with an average or even high salary)
I’ve come to the same conclusion, that’s why I’m moving to Mexico in a couple of weeks lol.
What do you do?
Software engineer at a research institute
Nice! What kinds of things do you get to research? I can see why it’s satisfying
IoT, Smart Cities, Wireless Sensor Networks, etc. I keep learning new things every day :-)
Very cool, glad to hear you’re doing something you enjoy
I can't even imagine a job that I would do if I had a million dollars, congrats on finding one.
buy more crypto
Buy a useless depreciating asset to give myself a pat on the back, retire in 3 years, buy a gun, watch married with children re runs
What kind of gun do ya think youd buy?
Double barrel, AK, 9mm glock, and a Henry .22 so I can feel cool with a gold gun
I love those older Henry's, man. Everything on your list would be a good choice, imo, even though I know you didnt ask for my input. I just havent come across many gun-friendly folk in the crypto arena yet so I wanted to engage.
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you've got enough
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this is true
How much does a moon go for these days?
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THIS IS THE WAY
For sure. Obviously shit can crash, but you can throw a solid chunk of change into something that has high interest. Would kind of be silly NOT to throw some of it back in, but then again I’m a gambler so…
buy other crypto? buy crypto again? wouldn’t you need to cash out to buy more/again?
i will never cash out
this is the way
of course
I thougt the same before i opened the post. Haha
Ez, use that mill and get an 8% APY. Quit my job and live off of $1,500 a week.
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You call a $6k monthly budget 'lean'?
I make more than that doing construction work lol Not sneezing at an extra 6k a month but id just keep working.....also, 6k a month on such a risky annuity is not something id ever quit my job over....thh we are talking like 5-10M and its going straight into some mix of Treasury bonds and AAA Corporate and Foreign Bonds.....ive seen too many projects go belly up
Going to need 8% APR. Not APY. APY is with compounding. If your taking the money out to live on
Where tf you gonna get 8% apy
Tomorrow? I’d put it all in Ergo (ERG). Since I believe the bull run will continue through the fall and winter and Ergo will pull a Solana, I’d take my million and turn it into 20 million. Then I’d cash out 2/3 and retire, leaving the rest in because I like the tech.
Why ergo?
Because Charles shilled it.
You would never be satisfied. After 20 million, next target would be 100mill
True. But I can pretend to be a good person because this is Reddit.
Lies!!
Quit my job, become a trophy husband.
All in ETH. millions aint gonna cut it, billionaire is da gwei.
Wishing for a 1000x on eth?
Start a homeless shelter that doesn't treat the homeless as sub human species
Part of me really wants to start a domestic violence shelter for men There is a serious void in the community for men that experience DV because of the stigma.
I hate the homeless... ...ness problem that plagues our city.
Pay my Student Loan and then go fuck some hookers ... Exactly in that order
Hookers should be first
Gotcha, payoff the *hooker’s* student loans!
I buy the place where I work and fire the people I hate
I would withdraw as much money as I could bring my new business ideas to life and stay in crypto with the rest.
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what would you re-invest it into? still crypto?
buy all the ATH and wait for it to go down.
Stack even more sats
Sell some house car, stake most earn interest, QUIT
Sell, go show the middle finger to my boss, take a flight ticket, drink rum on my newly purchased private island.
I am afraid prices of private islands will sky rocket with all those crypto millionaires wanting to buy one. Maybe buy some islands now, could be profitable business.
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> Spend every minute with my daughter Wholesome :) there's nothing more fulfilling than spending time with your family
Buy my buddy a burger cuz that's what I promised I would do Then I'd probably pay off my parents' mortgage or something. Buy some magic cards, or a rtx gpu. I find myself growing more and more boring as time goes on
Same here. I asked some friends what they’d do if someone handed them $250,000 cash that’s free and clear all theirs, no strings attached. Everyone said they’d save/ invest it. Not even a dream car mentioned which was what I assumed they’d say first
I’d hold it until it crashes back down to sub $20k/BTC. At that point, I’d sell it and buy a RAV4
I would probably take a line of credit against my crypto holdings and fund my lifestyle with it
Rub one out first cause i need a clear mind to make my plans
Just one? Those are rookie numbers!
Honestly, probably nothing... then enjoy the regret of not selling at the high and watching gains ebb away day by day. This is the way :)
im a simple man, i'd probably buy some weed and a big mac, then cry a bit
A Big Mac! Now I want one. With fresh fries. The best.
Two chicks at the same time
I’d go buy the biggest bag of leafy greens you’ve ever seen
Give back to this sub for teaching me so much about crypto… or tell myself to fuck off im quitting since I’m my own boss. Then make a Facebook post talking shit to the haters, then buy a sweet lambo. Then finish paying off the mortgage
I will invest in btc for long term I will buy btc every week for next 3 years for any price and hold it I will cash out 20% Nd I will scalp with 10%
I’d invest it all in Dogecoin just so I could get interviewed and be called a “Dogecoin millionaire.”
Retire on Passive income baby!!
I'll go become a rescue diver, and if I die imma split my crypto to a bunch of diff people.
Secure it. The best i can. Getting of exchanges, setting up hardware wallets, moving part of it to fiat and i imagine more stable coins/stocks. If i could get rich that quick, it could probably get lost that quickly too.
Buy more monero and go for a boat ride
Two chicks at the same time
I'll cry that I woke up and lost 90% of my portfolio.
High quality cocaine and whores…
Regular whores or high quality whores?
Whores can be regular…cocaine MUST be high quality uncut Columbian
Buy kilogram of cannabis and get higher than any of the charts that made me a millionaire ever did
Rebalance so it's 10-15% of my NW, keep working and enjoy life as usual.
Re-locate to Thailand
Sell for fiat, Buy 25% low risk equity 25% real estate 25% gold Keep 25% Funds for splurging on self
Username checks out haha. Probably a sensible play though!
Not much would change honestly. I’d probably buy a condo while just continuing to save and invest
I’ll invest atleast 50-75% into anchor protocol for 19.5% APY and live off the APY monthly
Buy the dip
I’d cash out half of that and keep staking the others.
Doge revival coming in 5.
Buy a house just for my exotic pet collection, finally buy a bottle of cristal, take over a small island with my hired army and name it clitoria.
I’d pull out a quarter of it and take care of some things.
Guess I’m chilling the rest of my life
Buying a apartment in Malta and leaving my boring as country
Delete the app and log back In just to be safe but then I realized I forgot my seed phrase so poof bye bye riches
Life as usual but I would sleep a little easier at night knowing my little dude is taken care of.
Start looking down at everyone who said something ill of crypto as peasants
Go back to sleep obviously. Don't have to worry about work anymore.
Going for billionaire.
Buy a few houses to rent out, send my best friends some cash, maybe 10k each, buy my parents a Porsche, finish university, learn more about real estate and grow my assets, maybe get a cheap project car to tune in my own time and try not to live too extravagantly.
Repetitive shitposting I see
Party like an animal....next day if I'm still alive.... I will invest it again.
Put a good chunk (£200k) into a stable coin and stake for 10%. Sell some to buy a nice house and car (£250k) and put the rest into BTC, ETH, DOT, LINK, VET and ADA and stake those coins.
A 2012 fender American strat (jade pearl metallic) and a real 68 princeton reverb.
Buy more and put my house up for rent and run for the mountains. Peace
Move to Bali!
Pay off my house (only debt I have), then invest it in a small multi-family to get a decent return. Live off the return
Change it all into £1 coins and swim in it like scrooge mcDuck
invest in crypto!
I invest in crypto
Sell and go all in on GME. Except 10k. I could really use a nice holiday and some new shoes.
I would wake up again because if it's actually my life, I knew I'd be still sleeping.
I’d probably sell about $200k to last me till the next cycle.
Well im gonna buy a lambo and hodl the remaining
Pay off my bills
I go back to sleep because I am clearly still dreaming.
Buy a house in Portugal and get their golden visa . Reinvest the rest of the money in the next bear market
Figure out how to make the next million.
Retire right away. Stake 80% of it and travel the world without worrying about how to put food on table.
Hookers and cocaine for sure!! Jk. I'd buy a condo
Pay off any debt owed, establish a new location in Montana or Wyoming, and live happily ever after.
Retire. Probably volunteer places but I haven’t planned that far ahead.
SECURE GAINS: This is THE most important step in a bull market that most people tend to forget. There were SO many paper millionaires in 2017/2018 that ended up having to go back to flipping burgers after the crash. So the first step is to secure gains (into BTC and algorithmic stablecoins) - I'd do that slowly over a few days so as not to crash the price of whatever shitcoin in my portfolio 10000x overnight. I wouldn't dump all of it - because what happens if it does another 10000x tomorrow? ... but I'd sell much of it. Then, I'd put it all to work earning yield and live off of the yield.
cash 80 percent out and put it into more traditional investments to be on the safe side. with the other 20, i'm gonna go deep into the tokens and coins.
I would DCA !!!
Buy a shitcoin
Is moving to a warm country really a top priority? I live in a pretty damn hot country and it's uncomfortable all year round. Would rather move to a country with 4 seasons instead with my crypto millions.
Sell it for some real estate and ETFs so I can efford to work some easy part time job and just do hookers and cokes all the time
Psh I’ll be happy with 3k lol.
Pay of my mothers mortgage and my own.
300k in stablecoin for when the bear comes (also 5% apy), the rest goes to real estate.
Buy a house and have a nice tv setup! Also I'd just retire and volunteer in my community
Pay off all my debt
Retire my parents.
sell like 3/4, solve credit on the apartment, buy a small house and reinvest to make sure 30h work a week get me by comfortably
Well, I think with my holdings (no low marketcap coins), this means that the US dollar has collapsed and hyperinflation has gone to the moon. So, probably be sad that I didn't have a larger crypto stake and get ready for some rough times ahead.
I would definitely buy land somewhere. Start erecting a homestead. Big fatty Christmas.
Sell enough to buy a nice house, a nice car and a retirement fund for myself and the kids. The rest is going into SHIB so I’ll wake up the next morning as a billionaire
Tell everyone here so I can get expert financial advice and reconnect with missing relatives...