Quote from: markm on Today at 03:32:26 PM

Quote from: Ekanayake90 on Today at 08:32:33 AM

Altcoins are not something you can hold on to forever neither Bitcoin is, the wise thing is to take your profits away and invest in physical assets till next bear market so that you can bring your cash back to buy bitcoin or altcoins at a cheap rate. The purspose of this thread is to have a look what altcoins our experienced members prefer.

Yikes! Be careful about "physical assets" too though!

I had the idea in the 2017-2018 market peak that if I got run over by a bus my family would likely not benefit from my crypto holdings because some fast-talking "expert" would convince them to let him or her at my computers to "retrieve" my holdings and oops guess what, "sorry he must've gotten hacked or something, don't see anything there..."

Thus I figured how else to dispose of over $50k per month than buy up fixer-uppers I could then sink many thousands per month into to "fix up".

A bank assured me that as soon as tax dept paperwork showed I had indeed made hundreds of thousands there would be NO problem getting a mortgage, so rather than let it slip through my hands I early in 2018 bough a nice fixer-upper mansion using cash, figuring no need to wait for mortage to buy it, use the mortgage instead once accountant was done and income filed to pay whatever income tax the tax dept paperwork would show alongside its showing how much I had made.

Well!

Never trust old-style banks is apparently totally correct advice.

In short, they had lied.

They changed their story, all of a sudden it is not the amount I earned they want to see, it is magically (fraudulently, surely, ultimately?) now that I already paid the taxes on the earnings that they want to see.

I mean it does make sense to wonder if someone is just pretending they made a bunch, if they aren't investing into the pretense by paying taxes on the pretended income, sure.

But...

To lie about it?

To pretend the paperwork shewing the income would suffice then later change that story?

Sick buggers. Absolutely something wrong about that. They could have just said up front that income only counts after the taxes on it have been paid.

So, no financing for paying the income tax, even given five houses available to hold as collateral, even using "private financing" (mega huge costs to those by the way).

So fer goshsakes if gonna try vesting in "real" stuff be damn careful!

(And never trust old style banks maybe too?)

-MarkM-

wow thats some story and a lesson to learn from. So you only invested in bitcoin since 2018 I guess?