Just getting started in crypto, have like 2k in my portfolio. Should I sell my home and rent somewhere cheap to buy BTC until the next cycle or just buy smaller amounts of alts hoping they moon?
Don't sell your home. Don't buy alts.
>>61180485
>>61180542Not too sure how much longer I can even stay at my house desu, my current job isn't paying enough to cover all the bills ongoing. Would be downsizing and cutting overhead, could throw a few hundred a month into portfolio plus whatever is left from the home sale.
>>61180485both renting and buying makes sense, depending on your circumstances. Selling your home to invest in crypto is pants on head retarded lol
>>61180485Are you new? I don’t understand how anyone can suggest going all in on crypto after witnessing this past cycle. I want to pump a little bit more so I can drop this shit like a bad habit. Might pivot 10-20% back into it later, but even then it’d only be Btc. But alts? You’ve lost your damn mind.
>>61181516Well it's not exactly solely to invest in crypto, it would be to reduce overhead first but then the freed up cash would go to backup savings and crypto.
>>61180485>Should I sell my home and rent somewhere cheap to buy BTC100% yes. You'll make so many moneys @:^)
>>61180485If this isn't a joke post then don't sell your home. Avoid alts if you're new and don't know what you're doing - they filter a lot of midwits, so expect retards to insist that they're horrible etc. They're not, it's just skill issue. Actual discerning players know they're basically used to flip more capital into BTC. And for that reason they're great (providing you know how to choose them). Avoid them for the time being though.Keep the house and slowly stack BTC.
>>61183530I see, I know alts lower on the list seem to get rugpulled but the use case for LINK seems good, I know some anons will scoff but it'd be cool to stack some, and some BTC. I would like to also get some XRP in case it does eventually go somewhere.
>>61183568LINK is fine, but you'd better have a significant time horizon on that play. XRP is meme dogshit. But this doesn't mean it can't continue to perform well - we're basically trading marketing and tech optimism when it comes to this alt shit, if the public think it's good and pump it short term, then short term it's a good trade. Look, if you go to alts early and venture too far into random buying stuff you're going to get rekt and incur losses along the way. It's a rite of passage, so expect it to happen. I strongly recommend you stay mostly BTC and some LINK, with a smaller portion of whatever alt on the side, with the goal to flip that into more BTC. Apart from ETH, LINK, XMR etc, all other alts are temporary fads that you're flipping into more BTC. That's the main goal of alts, just a means toward more BTC.
>>61183636That seems like a solid plan. The problem is my current home will be unaffordable unless I find a better job. I might be able to barely make ends meet for a while but I'm basically milking unemployment and waiting for some sales commission which can take months. Might get 20-40k from that but it could be eaten up by bills. Moving would at least cut overhead but I'd no longer own a home.
>>61183662Don't take on too much irl risk to do this while you're still this clueless about the whole arena. None of this is going to be as smooth sailing as you think. If you have grit and determination you'll do well here, but it'll test you along the way. Believe me.Play it safe irl, Always bias toward irl security. Save that money for daily expenses.
>>61183716I will say, FOMO plays into it all because if I'd sold the place a couple years back I'd have had at least 1-2 BTC which would have paid for a similar place completely. Got burned in 2018 for like 20k investing in the ICO craze, should have stuck with BTC then. Always one step behind it seems.
>>61183739>I will say, FOMO plays into it allYou have to think in terms of surviving bear markets too. Do what you want but I strongly recommend you go slow and bias toward cash to live on, because you're going to get rekt along the way as you learn.
>>61183778Either way, forgetting crypto it seems selling the house would yield more cash flow because expenses would be cut by about 1k...not to mention more investment money. But I'd be living with roommates or getting an address at an RV lot.
If you're not moving to be closer to something that makes money (moving for a job etc), no point in selling. Your home is an incredible store of value, investment and collateral all at once which you would know if you owned one.You would literally moon more often just taking the money you would buy on alts and just doing banker baccarat bets occasionally.
>>61183942Problem is I haven't been paying much principal, it's in a HELOC. Principal kicks in come 2028 and the payment will also go up by 400 a month.
>>61184077Still better than renting for 4 years and trying to get back in later. In 4 years you can either have maybe come lucky gambling but most likely you'll be even or slightly down after rent and premiums and taxes. Or in 4 years you'll have that house you can sell still. One has way less headaches and gambling and stress and you basically end up in the same position so why bother going through all the crap.
>>61184101If BTC goes to a million by then though... I know it's a gamble but damn it would suck to miss out even on half a BTC
>>61184173You've already missed out on trillions of things and yet you're still here, you're going to miss out on trillions more yet. It's ok to take a safer bet and just relax and watch. For perspective you should have some kind of legit real exit price that you could live off of forever by the time you're 55. Could you get there in a couple years a couple decades earlier with gambling? Sure, but once you're there it doesn't matter. You'll be 55 regardless of if you gambled or if you waited with that same amount of livable wealth at the end, one path mightve had you have it many times over or retiring earlier but honestly it doesn't make much difference for the risk. One day you'll be 80 and could still be trying to find that 100x to finally retire or have been chilling on your low risk long term investments from 50 years ago.Have some relief of missing out.
>>61184217I get what you're saying but I also don't have any retirement savings. It seems like reducing expenses and going fully into BTC and my test stock portfolio (which did 18% yoy in relatively safe bets) would help a lot but I'm hoping I get some commission payouts that can let me finally get a position in BTC. Already in my 30s and just want a way to retire early.
>>61184248Nah you're just a junkie who really wants that high of of getting a quick return. Literally just go do banker baccarat and cut the crap with crypto and dealing with exchanges and gas fees and market manipulation. Just you and the house. It will be much much faster way for you to either make your retirement or losing your money. If you don't want to do the ultra long house investment, just do the ultra short gambling investment. Going somewhere in between is just where the system is designed to suck money from idiots. Remember that there's idiots in every tax bracket and the system is designed to extract that wealth from labour to put into capital. Have the capital anon, be on the right side. Or go full liquid and beat the house at its own game. Don't be slowly nickel and dimed and spiral the drain and have nothing at all I'm 30 years.
>>61184273That's the exact problem of the house. Like sure, I could probably afford to stay here at the house but it would slowly eat into my savings, my extra cash flow, etc. Or I could go mobile, buy an RV or a camper, rent a spot and address and be fully liquid to buy the dips. The only caveat I see here is if we go to a value based market where things like real estate inflate and bets like crypto and stocks sink. I don't think I have enough capital to both keep the house afloat and invest. I know how the capitalist system works, they dangle the carrot just enough to extract your labor. I'm not too sure what other options exist to get out of the system early.
>>61184330You have capital. You are being scared to give it up because they want it. It's called capitalism.
>>61184367Yeah that's probably the biggest thing stopping me from selling the home. I feel like I'm being exploited for someone else's gain, and my uncertain gain. But I have also heard people suggest I go ahead and rent cheaper and buy BTC for better gains and net worth over time. I'm in it for the long haul, at least five to ten years.
>>61184486>5-10 years>Long haulThat's barely the minimum someone should be in a market for in order to actually have gains and only be taxed once at the end instead of trading all the time. 20+ is the start of long haul territory.
>>61184997However long it takes to retire early. I'm just reluctant to put my hopes into scrounging together devaluing fiat while trying to maintain a fixer upper that needs thousands of dollars in repairs. If I leave now I'd have at least some money to throw in to the markets, maybe a few thousand.
