Quote from: chemvidswoot on January 10, 2018, 09:45:07 AM

Also - your friends are financial idiots - I can tell that by what you said about them. If they are telling you to buy a house, a car and "live a nice lifestyle" - they don't have money and don't know how much capital it really takes to "live a nice lifestyle." You can't do that on your returns safely until you hit low 8 figures (which you can at your age with your nest egg) net worth.

A "nice lifestyle" is relative. I don't think an 8-figure net worth is necessary to live well. I also don't think a house and car are bad purchases. A house is a solid investment, and even in a housing crash, your house's value is far less likely to evaporate like altcoin gains. Altcoin gains can disappear overnight, so putting money into "real" assets is a smart move for someone whose portfolio is 100% crypto.

Quote from: chemvidswoot on January 10, 2018, 09:45:07 AM

Do not buy a house - buy a multiunit building - live in one unit, rent the rest. Thereby you both get a great cash producing investment and you also eliminate your housing expense completely - accelerating the race to more wealth.

You can't eliminate your housing expense completely: property taxes. And property taxes tend to be significantly higher on multi-family buildings than single-family. Also, being a landlord can be a real headache. You have to deal with evicting non-paying tenants, landlord-tenant lawsuits, you have to regularly find occupants (or pay realty agents to do so), you need to do building repairs and deal with city/county/state housing codes. A single oversight in purchasing a large building (regarding, say, seismic retrofitting or similar renovation) can set your ROI back years.

Quote from: 600kcrypto on January 10, 2018, 01:28:57 PM

Wow thanks for all your help guys. looks like I have some responding to do!

As for my plan, I am taking out 30k, my intial investment was 10k in 2014, so I am 3x up no matter what happens now. I am going to buy a nice car and have a nice holiday this summer with my money.

Glad to hear that you are covering your initial investment and keeping some cash in the bank. Don't get too lavish with the car and holidays; those expenses can add up very quickly.