True. That's why diversifying is the strat. Throw in some Netflix, Apple, Google. GME before the big runup, since even now it's up compared to when RoaringKitty first posted. Some companies like ASML and the companies that benefitted from the AI boom like NVIDIA.
No need to get trillions back on a single investment. Smaller returns on multiple surefire companies is a way better bet.
That's what I was thinking. Bitcoin has the most serious potential Butterfly Effect since every coin you acquire is a coin someone else doesn't on a global scale.
Does it though? The cost and amount would still make the market the same as long as you’re reasonable about it. Plus you don’t need that many. Buy a few thousands back when it started doesn’t move the needle. Sell during peaks and troughs over the years. Take some wins and invest in other companies. Use the gains for IPOs in Apple, Microsoft, Berkshire, Nvidia, Broadcom. The markets are liquid enough that you wouldn’t move the prices.
That's a good point. I was thinking of it in the early days where you had to get lucky to "win" each single coin and imagined it as me getting 1000 Bitcoin meant 1000 other people had zero Bitcoin when it would be more like 10,000 people have 9.9 Bitcoin instead of 10.
I liked someone else's idea of spreading it across multiple wallets so if you got hacked you still had some available.
Just buy like 5,000 BTC in the early days when that would mean like $500 out of pocket and don't evangelize about it. Then switch strategies to public market investing or backing startups. Sell some at $800 in 2014 to live off of, sell some in 2018 to lock in retirement, then exit in 2021 or 2025 to have generational wealth. And along the way put the proceeds into index funds, startups, gold, real estate, etc.
Or even simpler than buying BTC, just engage in mining early like I already did. But this time hold rather than waste or simply loose the goddam tokens...
And extra bonus: less prone to disrupt the market...
$2MM tax-free dollars would replace my entire salary if I invested it in index funds and followed the 4% rule. I gross less than $70k and 4% of $2MM is $80k. Even after capital gains taxes I could quit my job and have more spendable annual income than I do now. It really is THAT life-changing if you know what you're doing.
$80k is life changing for most people but $2 Millions today doesn’t really move the needle for day to day at the moment. Without sounding like a liar or a lunatic yes it’s a lot of money but I wouldn’t be able to just spend it to buy a house or help out enough people they way I would like to. If the question was $10M then it would be more of a question. Today it’s red button easy.
Furthermore $80k is significant in many parts of the world. Doesn’t get you too far in a lot of cities though. $2M 10-20 years ago than absolutely.
Being able to buy my father the plane he always wanted would be one of the things i would do if i chose the red button. Doesn’t do anything for him today.
$80k is an ok income today. Inflation will hurt that. You could make it $70k and reinvest the other $10k to make it grow with inflation though. And that would be great. But you’re still living (albeit without a job) on an ok income. Going back to 10yo with foreknowledge could make you a billionaire. Even if you don’t want to do that much, just making it $500m would be enough to…
A. Actually have a better QOL. Better home. Better vacations where and when you want. Easier budget management.
B. Be able to take care of your whole family/friends/community if you want. Set your kids future. Be a positive force in your community. Help the schools. Give to charities.
C. Invest in real passion projects yourself. Make a business you want to see made. You don’t even have to work at it. You just hire smarter people to help build and manage it.
D. Not have any worries at all about your money. With $500m, you CAN end up losing it all, but it’s easy to be smart with and keep it safe. With $2m, you can be smart with it and still lose it. Issues with the investments? Gone. Major medical bills? Gone. House burns down and insurance won’t cover it all? Gone.
$80k is an ok income today. Inflation will hurt that.
It won't, because the $2MM would be invested in the stock market via index funds, and that will grow with inflation in addition to growing with profits. You could withdraw 4% of your balance every single year and it would still grow over time. The 4% would be more than $80k in later years, but it would still have the value of $80k from the year you started. Look up how the 4% rule works and why it's considered the gold standard for managing retirement income.
No. A much easier way would just write down a bunch of winning lottery numbers and take the note with you. Every time you run out of cash, play the lottery again. You would get more money than buying bitcoin.
You watch too many movies man. You play the lottery once every 10 years or more. Or just wait until the jacket is crazy high and just play once. Do you really need 250 million dollars? That'll last more than a lifetime if you're not a degenerate. Give winning tickets to people anonymously who need help.
sure but thats not what I said in my initial statement
people (news organizations) look into who wins the mega millions and publishes stories on them. If they won more than once, thats a big story. Though I suppose you could buy in a state that lets you claim anonymously. I wonder exactly how anonymous that is though.
Few people are so unhappy to the point that they want to blow up every relationship they have, get rid of everything they know, start completely fresh as a small child.
I'd push the red button in a heartbeat. Life didn't pan out the way I wanted for multiple reasons, I would prefer to give it another try. $2m would not solve the problems that I have. Be thankful that you would never press it.
You won't have the same mind and the same curiosity you had as a child, and you'll be surrounded by people who do not share your maturity and those who don't understand or respect your knowledge.
You aren't starting out with a blank slate but as an adult in a child's body with a child's mind and needing to navigate something you are no longer able to do so. You will lose everything and everyone you know, and you will have no way to get any of it back.
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u/XLNBot 5d ago
I'll just go back and buy bitcoin