I have a serious question(s) for those of you who are involved with the Crypto game.
What is the actual PLAN for your crypto "investments"?
Is it merely to make money, as in any gambling endeavor?
Is it to build something for on down the road when retirement looms large?
With your holdings in crypto, can you use it to live on or plan with for future expenditures?
Do you consider it a real investment in the future or merely something to dabble in while stumbling forward in life?
If you have a substantial amount in crypto, do you sell some to hold back some kind of profit or do you plan on just keeping it until it hits the magical 1 million dollar mark?
Do you have a tax strategy for any of this?
Can you use your crypto holdings as collateral on something in an emergency should the need arise?
I see the alure of the BTC game to many people but somehow I just don't see or visualize the outcome of this. There simply has to be something I'm missing here.
I just moved another $70,000 from an asset that got called into another product that will produce a similar profit moving forward. I would not even think about moving that money into a BitCoin.
Am I truly a Luddite in the 21st Century of money management in real life or am I simply not seeing the big picture in the digital world?
AD
What is the actual PLAN for your crypto "investments"?
Is it merely to make money, as in any gambling endeavor?
Is it to build something for on down the road when retirement looms large?
With your holdings in crypto, can you use it to live on or plan with for future expenditures?
Do you consider it a real investment in the future or merely something to dabble in while stumbling forward in life?
If you have a substantial amount in crypto, do you sell some to hold back some kind of profit or do you plan on just keeping it until it hits the magical 1 million dollar mark?
Do you have a tax strategy for any of this?
Can you use your crypto holdings as collateral on something in an emergency should the need arise?
I see the alure of the BTC game to many people but somehow I just don't see or visualize the outcome of this. There simply has to be something I'm missing here.
I just moved another $70,000 from an asset that got called into another product that will produce a similar profit moving forward. I would not even think about moving that money into a BitCoin.
Am I truly a Luddite in the 21st Century of money management in real life or am I simply not seeing the big picture in the digital world?
AD