Re: Turning $50,000 into 1M in 365 days- Buy and Hold possible?
As an aside, I have a buddy that did this with Verge coin, he was mining as a lark since this last summer. (helped he was a big miner).
He cashed out 1/2 for a cool million to BTC....the other half will get moved eventually for taxes ...)
I, of course, forgot about any such conversation on Verge...alas....another missed boat. (It's a frigging fleet I have of missed boats!)
Rare it is, but possible, usually with an alt pump.
Is tax that much high? This is crazy, if yes. Why should we pay one second of the money to the government? This is not fair, also. For the topic, if you really can find something like ADA, IOTA, VERGE, getting million dollars is easy.
40% fed tax at that level I think....also in a 10% income tax state...at least 50% ...if self-employed and mined he also may have (i think) soc sec taxes of 15%
fun times....( i need to meet a nice girl, in a country w/o capital gains and renounce citizenship and run for the border) I'd make a dandy 'house hubby'
