Quite clear to see the "ultra-sound money" narrative was a delusion only enjoyed by the tech bros who larp'd as caring about ETH's monetary policy. Wall Street called their bluff and many tech bros still in disbelief that nobody wants to buy their trash ran by a bunch of fucking nerd technocrats that make the federal reserve leadership look almost competent.
There is no second best.
Celebrating a near ATH with all my friends who listened to my bitcoin advice for the past 11 years.
Just kidding most all of them sold a bottom or took a double-digit gain and never looked back.
Can't wait for the comments about how lucky i got soon.
Bitcoin is ~4% away from it's all-time high and Etherium is ~80% away.
Wall Street execs out there still acting like they ride the short bus to the office when Saylor has given them the literal cheat code. No need to go bonkers like Saylor but when companies are sitting on 75 billion dollars of cash it would probably be prudent to take a single-digit position in bitcoin rather then literally light the money on fire with buybacks. Still early.
good morning my beautiful
Just to follow up with my own thread. I'll keep who suggested it private but someone gave me a lead on using Discover for a HELOC. Tentatively approved just waiting for underwriting to review my docs - they're reviewing me for $300k (max amt) for 30 years @ 6.650% APR. I'll likely cover whatever isn't provided by this 300k by direct corn sales but it should substantially lower cap gains sales and delay corn sales as much as possible.
Thanks to everyone who chimed in with suggestions.
Good advice. No 401k here but helpful.
gm - finance friday time.
I need help. I feel like this type of talk goes largely undiscussed due to the taboo of potentially selling bitcoin but maybe this helps someone else out in a similar situation too so why not make it public.
I'm buying some land to develop and now in a 30 day due-dilligence period. I have 30 days to figure out the best way to finance the deal without selling corn and incurring a big cap gains bill at the end of the year.
The down payment needed represents a single digit percentage of corn holdings. My first purchase in 11 years of holding and the property is where my daughter will be going to school for the next 13 years.
I own another home which i am not selling (yet) and i have no mortgage either - this house is worth slightly more then the down payment i need to come up with.
So my problem right now is plenty of assets and a lack of lenders to borrow from. My primary bank won't even do HELOC's (Chase). Lenders like Ledn.io charge about 13.4% to get just a 12 month loan. There are a couple other "crypto" mortgage lenders out there but seem too unproven to trust.
Any other creative ideas i'm missing to use OPM (other peoples money) to finance the deal to avoid the cap gains?
Tough to swallow ~14% APR AND counterparty risk. Best case scenario bitcoin far outperforms the APR and your lender doesn't go broke. Worst case scenario? Lender blows up and you lose all your collateral.
"Never sell your bitcoin!" they say
Also, no good lending products actually seem to exist?
Wen cheap bitcoin backed loans? We have to be close...
Why are bitcoin backed loans still so expensive when there is almost no default risk with a proper multi-party, multi-sig setup?
Paying ~13% plus a 2% origination fee is crazy. We need more lenders.
Bitcoin is doing well. How well? I'm going to look at some property tomorrow. 😅
Omega candle has been canceled. Elon just called and said prepare the starship candle, screw the moon, we’re taking this shit to mars. 😂
Share many sentiments. Was kicked out my own house as a teenager and told i was going to be a garbageman, laughed at the idea of my business when telling people about it, people dismissed bitcoin, was told i shouldn't sell all my stonks and keep it all with a HNWI firm, shamed for not taking the vax, etc..
My greatest successes in life have all been a joke to others.
If they could only see me now.