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My friend recently became a multi millionaire by investing 10k USD (dead SRS)
05-27-2021, 09:50 AM
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#1
- MotorCityCobra
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My friend recently became a multi millionaire by investing 10k USD (dead SRS)
i have tried my luck in crypto in 2017, stocks now, you name it but i just keep getting pummeled. meanwhile my friend invested his life saving (10k USD) 2 years ago in a altcoin (Telcoin). he bought it and forgot it. he was deep in red for a long long time, now a week ago he was up literally 2.7 million dollars. thats mind blowing and amazing, but when will it be our turn brahs?? he did not cash out but only sold some of his coins (50k USD worth) and now he is up like 1.8 - 2 million USD as of today.
im looking to get some crypto exposure again as i recently invested massive amounts of my net worth in stocks, right after this the market takes a nosedive (this is what happened in 2017/18 when i lost 95% of my crypto portfolio)
im looking to get some crypto exposure again as i recently invested massive amounts of my net worth in stocks, right after this the market takes a nosedive (this is what happened in 2017/18 when i lost 95% of my crypto portfolio)
05-27-2021, 09:52 AM
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#2
- Titansfan08
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But I thought crypto was dead/ponzi?
05-27-2021, 09:54 AM
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#3
- BLOATMOGGER
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- BLOATMOGGER
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Your friend is an idiot to tell anyone other than a lawyer.
That's how you end up killed and your crypto wallet drained to an anonymous account.
That's how you end up killed and your crypto wallet drained to an anonymous account.
05-27-2021, 09:54 AM
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#4
- elterrible987
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- elterrible987
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he must be retarded
he needs to cash out now
he also needs to get with some kind of company that specializes in this. its hard to cash out 2 million in crypto and transfer it. They will take a cut and you pay taxes on it but fuk its free money just lock in the gains now before its worthless
he should just tell his work some relative died, not like they going to ask for proof and take 2 weeks off and go deal with this immediately. Also since you had a massive gain early in the year you will owe quarterly taxes or have to pay interest on it. So first you need to sell, then transfer and then pay taxes. Go get his gains into a normal bank and then figure out from there how to invest it, move it to a normal brokerage like vanguard or fidelity. you know behave like a person with wealth and not a retard.
he needs to cash out now
he also needs to get with some kind of company that specializes in this. its hard to cash out 2 million in crypto and transfer it. They will take a cut and you pay taxes on it but fuk its free money just lock in the gains now before its worthless
he should just tell his work some relative died, not like they going to ask for proof and take 2 weeks off and go deal with this immediately. Also since you had a massive gain early in the year you will owe quarterly taxes or have to pay interest on it. So first you need to sell, then transfer and then pay taxes. Go get his gains into a normal bank and then figure out from there how to invest it, move it to a normal brokerage like vanguard or fidelity. you know behave like a person with wealth and not a retard.
05-27-2021, 09:57 AM
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#5
05-27-2021, 09:58 AM
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#6
05-27-2021, 09:59 AM
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#7
05-27-2021, 09:59 AM
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#8
- elterrible987
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- elterrible987
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Originally Posted By carcano69⏩
this prob is all fake but there are some autists out there with huge paper gains not taking the next step because they dont know what to do and will lose it allthis happened
05-27-2021, 10:00 AM
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#9
- bfdehewdbyywhn
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- bfdehewdbyywhn
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what’s his username
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05-27-2021, 10:02 AM
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#10
05-27-2021, 10:04 AM
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#11
- DontbeSwak
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Also tryna get that bread boyo but how tf do you invest your lifesavings in something and then forget about it lmao
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05-27-2021, 10:06 AM
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#12
05-27-2021, 10:08 AM
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#13
- ISmokeTooMuch
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Originally Posted By carcano69⏩
yupthis happened
investing your life savings is something people forget about all the time
05-27-2021, 10:08 AM
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#14
- THATSfunnyOP
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My buddy did the same thing with VRA. 10k last crypto market. Red for 2 years. Just peaked at 2.4mil. Couple weeks later, now its worth half that.
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05-27-2021, 10:12 AM
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#15
- jizzfarmer
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Like others have mentioned, he's a phuking retard if he doesn't cash out. Especially during this dip man, cash out and throw it all into BTC and double up in a couple of months.
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05-27-2021, 10:13 AM
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#16
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Originally Posted By Destor⏩
This.Paper gains are just that until you cash 'em out
Let us know how his transition to USD/Euros goes.
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05-27-2021, 10:15 AM
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#17
05-27-2021, 10:18 AM
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#18
- Zackad
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Originally Posted By carcano69⏩
he said he put his life savings into it
you dont just suddenly forget where you put all that money
you dont just suddenly forget where you put all that money
Originally Posted By ISmokeTooMuch⏩
He probably didn't literally forget about his investment. OP probably meant that his buddy "set it and forget it" meaning he dumped it in and didn't bother paying attention to it/just let it sit there for the long term, unlike a lot of crypto investors who are regularly day trading to increase their investment in the short term.yup
investing your life savings is something people forget about all the time
investing your life savings is something people forget about all the time
"So t
05-27-2021, 10:23 AM
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#19
- MotorCityCobra
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Originally Posted By carcano69⏩
this happened
Originally Posted By blazenbb⏩
I believe it, had several m8 trying to get me into Btc when it was $1
Originally Posted By dmaaack⏩
He will end up with nothing if he doesn't cash that chitcoin out. At least sell half. Let the rest ride.
Pure greed.
Pure greed.
Originally Posted By elterrible987⏩
This is 100% truth, i have nothing to gain by lying or frauding on here. we all got into crypto back in late 2017 and lost our asses in the crash that happened in early 2018. Only difference is he saved all he could and put everything into Telcoin a year later and he has been hodling until now.this prob is all fake but there are some autists out there with huge paper gains not taking the next step because they dont know what to do and will lose it all
He is not cashing out now as he really believes in the project (Telcoin). Its a legit crypto project
05-27-2021, 10:24 AM
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#20
- LukeLissen
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- LukeLissen
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Trying to decide whether to hold on to it in hopes for more gains or cash it out in fear of a big drop would drive me crazy.
05-27-2021, 10:26 AM
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#21
- Titansfan08
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Originally Posted By LukeLissen⏩
Trying to decide whether to hold on to it in hopes for more gains or cash it out in fear of a big drop would drive me crazy.
05-27-2021, 10:28 AM
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#22
05-27-2021, 10:31 AM
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#23
- Gaedj
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Originally Posted By Weezy32⏩
gotta still have money to pay your yearly property taxesI would cash out buy a nice house for about 500k in cash , 2 cars for 100k and be set for the rest of my life not worrying if I am gonna be homeless or not.
05-27-2021, 10:33 AM
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#24
- Fuqdatass
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So according to your post he lost almost a million in the last week
This all seems legit.
This all seems legit.
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05-27-2021, 10:36 AM
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#25
- Gaedj
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Originally Posted By Fuqdatass⏩
Not only that but the number doesn't add up.So according to your post he lost almost a million in the last week
This all seems legit.
This all seems legit.
If he invested $10,000 about 2 years ago, there's no way he's currently at close to $2 million. It's $750~950k at most.
05-27-2021, 10:38 AM
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#26
- MotorCityCobra
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Originally Posted By Zackad⏩
yes i meant set it and forget it, not that he literally forgot it lmao thats impossible it was his life savingsHe probably didn't literally forget about his investment. OP probably meant that his buddy "set it and forget it" meaning he dumped it in and didn't bother paying attention to it/just let it sit there for the long term, unlike a lot of crypto investors who are regularly day trading to increase their investment in the short term.
Originally Posted By Weezy32⏩
lets be honest we all would cash out long before we got until that point. dude has ice cold blood running through his veins and has diamond hands in the lieral senseI would cash out buy a nice house for about 500k in cash , 2 cars for 100k and be set for the rest of my life not worrying if I am gonna be homeless or not.
Originally Posted By Fuqdatass⏩
He did. The price of the coin went from 0.65 to 0.12, but it recovered and its at about 0.38 as of nowSo according to your post he lost almost a million in the last week
This all seems legit.
This all seems legit.
05-27-2021, 10:59 AM
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#27
05-27-2021, 11:00 AM
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#28
>Life savings
>forgot about it
Pick One
Anyone else never see any evidence of people actually cashing out on these big runs crypto makes every other year? Where are all the vlogs and famous 20 year olds with 50 million from there $1000 investment in memecoin? High suspicious of anyone who says things like this.
>forgot about it
Pick One
Anyone else never see any evidence of people actually cashing out on these big runs crypto makes every other year? Where are all the vlogs and famous 20 year olds with 50 million from there $1000 investment in memecoin? High suspicious of anyone who says things like this.
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05-27-2021, 11:04 AM
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#29
- PTzFree
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And this, ladies and gentlemen, is a perfect time to readdress the difference between net worth and money in the bank.
Your buddy might be a millionaire on paper via his net worth, but he's not in the black until he cashes that chit out for something he can actually spend.
Just LOL - might as well have a two million dollars worth of potatoes in your backyard. If you have no means of distribution to the grocery stores, they're worthless.
Your buddy might be a millionaire on paper via his net worth, but he's not in the black until he cashes that chit out for something he can actually spend.
Just LOL - might as well have a two million dollars worth of potatoes in your backyard. If you have no means of distribution to the grocery stores, they're worthless.
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05-27-2021, 11:09 AM
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#30
- Bigbuster1
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I did the same with LOGE coin and now bang supermodels in the backseat of my lambo
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