Quote from: LFC_Bitcoin on December 28, 2019, 12:34:12 PM

Quote from: mindrust on December 28, 2019, 12:26:46 PM

Quote from: LFC_Bitcoin on December 28, 2019, 12:21:32 PM

Quote from: mindrust on December 28, 2019, 11:32:00 AM

My term deposit at bank is about to mature after 6 months. I'm getting like $1k for this shitty investment. And what is worse, the interest rates got halved. Next time, I'll be getting like $500 for the same investment at the same bank.

I am making a big decision here:

Option 1: Keep collecting peanuts. Keep DCA'ing.

Option 2: Buy the dip, Keep DCA'ing. (1-2 btc)

Option 3: Nuke everything and become a 1 million club member while I still can. (all in)

*Option 3 violates my investment rules. Violates it like fuck all gimme lambo.

Option 2

Im in the same boat. I have $xxx,xxx value in bitcoin.

I have $xx,xxx value in fiat savings.

Im absolutely balls deep in bitcoin to be honest, probably way over invested than any sane person should be.

I currently get 1% interest per annum which on the fiat savings which is fucking pathetic. I really should pump it all into bitcoin like your option 2 says. It is nice to have some back up cash just incase something happens especially as Im self employed - i.e. no sick pay, holiday pay etc.

Pump all is "option 3" I believe. Typo?

You current net worth is my target networth for my retirement Grin

Anything over 500k, and I am done. The closer it gets to $1m, the better it is though.

I guess I'll do option 2, and get 1 step closer to the double digits.

Im close to mid 30s, $500,000 isnt enough for me in the UK. My plan is $2,000,000 - $3,000,000 but everything looks simple on paper doesnt it.

I will never sell all my bitcoins though.

And yes typo - Option 3 lol

Are you factoring in taxes? those are some big numbers. Which are the % brackets on capital gains vs income tax on the UK? How did you acquire your BTC? In the US, I've heard if you hold for 1 year, any income tax that would apply expire and only capital gains apply. However the problem would be explaining to the administration that some guy on a forum paid you to post, that you acquired gains through forks, mining shitcoins and trading them on now dead exchanges years ago, faucets which have been dead for years and you didn't keep any records... all those things add up into a tax nightmare hard to explain as most likely there's lack of documentation that got lost along the way. It's all licit origin, however, there is a risk they think you are bullshitting. It is a clusterfuck cashing out BTC in any scenario that isn't having purchased BTC in a regulated KYC/AML exchange, at your name with registered ID and keeping all buy and sell records. Other than that, you are playing a lottery in which they may or not think you are a dodgy individual trying to launder money. That's the problem for people that obtain BTC any other ways when they want to cash out. For some odd reason some people think they can simply cash out and "the burden of proof is on state authorities, they must prove im a criminal" as if that was a good idea. There's a lot of people that didn't do anything wrong stuck with BTC's not being able to cash out due fear of authorities, since they can't clearly prove the origin. I wonder how much % of that money is part of the BTC that hasn't moved.