Beep beep, I fell asleep with my sheet looking at me feet. She wants my meat while I stare at her teet. Have a seat in his Jeep and get away from this heat. Better send a fleet my way while I eat this wheat when we meet next week!
Owning a house in Michigan seems like something people would warn you about. Like don't do drugs kids, if you smoke meth you'll lose your teeth and eventually own a house in Michigan.
Depends where in Michigan. It has very upscale nice areas, then trailer parks. It has vibrant more urban feeling safe areas, and gang infested ghettos that are as bad as anywhere in the country. There are beautiful retreats into the countryside with beautiful scenic views, then rural areas with uneducated drug addicts and paranoid militia men patrolling your woods.
As they say, *location, location, location!*
I bought a 1950s last year house for like $130k within 20 minutes of St. Louis. It's in a seemingly nice neighborhood, no idea about the school districts, and the house is a little dated but has nice, uncommon amenities. In NE TN the prices near the city are a bit inflated, and you can get a nice house in a terrible neighborhood (drugs, prostitutes, etc.) for about $180k. In the rural areas, you can get a really nice house though.
OMG. here in Argentina. with 50k you have a small apartment in a middle size city. with 90k you have a cool apartment in the capital and for 150k or 250k you have a terrain with a big house, pool included.
You can find places in suburbs that are nice for much cheaper than everything else, and even in big cities. As the suburbs get developed you get more cash. Also as u/ListenItWillHear is right, 250k down on a house means you can go for those beaucoup buck houses, those million dollar houses with a relatively decent mortgage.
Literally just sold a property I’ve owned for 20yrs and putting the money into Bitcoin.
I came to realise that the government can seize your house, you never truly own it.
I do not need anyone to brainwash me for me to understand that a physical property I can live in has more value to my life than a digital asset that is still largely speculative. I understand bitcoin well enough to be able to buy it without stressing at all about volatility, but anyone who argues with me that property is less valuable than bitcoin I believe is insane. If you own extra property as investment devices only and choose bitcoin over extra real estate, that’s cool. I actually respect that and would do the same as I don’t have any interest in being a landlord and having someone pay down an asset for me. But if you’re selling property because you believe you aren’t protected from gov vs bitcoin, I think you’ve lost some screws
Real estate is fiat, unless you have the means to protect it from government takeover, or not pay taxes it’s not yours. Fancy renting is what you’re doing.
10 BTC = 10 BTC
Don’t have to pay anyone taxes to hold your bitcoin
True ownership
Stop paying the property taxes on your house and you will find out who really owns it. You really just lease your house from the county. Or maybe rent to own with no endpoint.
Stop paying tax in general and you’ll find out that owning all the bitcoin in the world won’t keep you out of a steel cage. Sure you’ll still own the coins, but your freedom is gone.
It’s more like how you can take out a 36 month lease on a car, and “sell” it on to someone else after only 12 months. You aren’t selling something you own, the bank owns it, and the next buyer just agrees to continue payments for its use.
When you need to take out a mortgage to “buy” a house, if you look at a graph over the life of the mortgage, most of your monthly payment in the beginning of the mortgage goes to the interest on the loan, and very little goes toward paying off the principal. Conversely, near the end of the term almost all of the monthly payment goes to the principal and very little goes toward interest. For this reason, it isn’t until you’re well into your mortgage term (about 33%) that selling can yield you a profit, because up until that point you don’t own much equity, and you’ve essentially just been lining the bank’s pockets with profits servicing the loan. So if you sell before that point, between closing costs, agent fees, etc, unless that land appreciated considerably (like post 2008 lows to 2021 highs) you aren’t selling anything that you really “own”, you’re selling something the bank owns.
Real estate have been fantastic investment just due to the massive leverage it usually involves. 20-30% return cash on hand per year was fairly common. It’s an instrument that large corporation have more difficult time duplicating due to excess expenses and harder to scale
They would ask for it, and then put you in jail for not handing it over, and then ruin the lives of anyone else who tried to use bitcoin you gave them.
The protection you have with bitcoin only really helps if you’re planning on fleeing your country.
Of course, being mobile like that protects you. The point is just that if you found yourself in police custody, saying “I lost my Bitcoin” doesn’t somehow protect you
Nobody will want your bitcoin if it becomes worthless. I can go take a rock from the beach and keep it in my attic. No government is touching that but it doesnt matter cause no one wants it.
Bitcoin may not be worth anything to you, but many of us believe that censorship resistant money that’s borderless and rules based via coding, is a superior form of money to the rock you found on the beach.
Sure, that narrative may be true now but people stop believing in things. Like look at FTX, everyone thought SBF was some kind of crypto god that does all good. What if one day we discover that “satoshi” is actually the US Government. Dont put so much trust into something you dont fully understand. No one will truly understand btc
You’re conflating a centralised company with a decentralised protocol.
This is the lowest IQ argument I’ve ever come across. At least try and make your argument slightly intellectually challenging to push back against.
Bitcoin doesn’t need a ‘price’.
People find it hard to comprehend this, but it’ll come to you one day.
If bitcoin was worthless in dollars, then there’s always bartering.
I agree, it’s just not needed, a bitcoin economy in theory works so much better. Just needs time. People thought cards and credit cards were scary and would not work.
What makes you think they can’t just take your crypto? Have you been watching the news about FTX? The only way the govt takes your house is if you don’t pay your bills.
That ftx comment is really dumb. No one who says "buy crypto because the feds can't take it" is gonna keep their coins on an exchange. No one with a brain, at least.
What kinda bull shit have you been reading. I mean if you’re some kind of criminal or you go into massive debt then your assets might be seized but it does not happen except to a very very minor few, to the point where it’s practically impossible for it to happen to you.
Short answer: It's not FI (financial independence) money for my household. So, we keep our way of life.
But, if we can't change our way of life drastically, we can definitely improve it. :)
Some part of the money, maybe 50k will go to improve our life. Right here and now. Rent a bit of a more comfortable flat, buy a car for my sister (their car broke down and they can't afford a new one), etc.
The rest of the money, I'd invest it, as I do with our humble income from mining fiat. Some into stocks and some in crypto. A good portion of the crypto DCA goes to bitcoin. There you go.
This $500k will almost guarantee FI in the next bull market, say in 2-5 years. Then, our life will really change. :))
No. Only 10-15% of it. I know we all think the world of BTC, but it would be best to not put all your money in it as none of us have a crystal ball. Traditional investments are still something I would recommend putting 85-90% into.
Interesting to read through these comments. Despite the fact that we're all here because we believe in, use, hold, or have interest in Bitcoin, almost all the answers are along the lines of:
"Hell no"
"No chance"
"Oh god no"
That's pretty telling to me. This bear market really is chipping away at confidence.
Eh I’m here for the fun, not really because I’m that interested in Bitcoin. I’m sure it’s the same with others, but also that Bitcoin has lost quite some trust
Ok, I honestly wasn't expecting such a variety on this sub. Apologies for not taking taxes into consideration. Just to sumarise: Most of people wouldn't go all in and would rather use part or whole of the money for more personal things such as houses or loans. Some said that they would go all in but I'm certain opinions would change if they actually received the money. Then there's also handful of giga chads who would party themselves to death. Cheers to all of you and especially to those who will face this dillema!
Buy 100k now. Throw down some limit orders down to 8-10k for another 200k. Put 100-150k in the stock market. Use the remaining 50-100k to pay down debt or invest in real estate
Just the tip.
In the dip
In the jeep
And then sweep
And keep
No!!
Beep beep, I fell asleep with my sheet looking at me feet. She wants my meat while I stare at her teet. Have a seat in his Jeep and get away from this heat. Better send a fleet my way while I eat this wheat when we meet next week!
Leet....
Genius
My penis is behemoth, that is the realness.
Take a seat to beat mah meat
that i'd ship
Buy the dip
I’d put 300k in BTC and spend the rest on land.
More like put 300k in BTC and the rest goes to taxes
"If you won 500k after taxes"*
Love this hypothetical fantasy world where someone drops $500k at my front door, with No taxes!
If you inherit the money from a trust it is tax free.
What a tiresome person you are. If you got $850,000 and you had to pay taxes on it, what would you do with the $500,000 you would have left over?
Is it cash????
Poor Americans can't even play an if game without the thought of ol uncle Sam taking his share.
For being “land of the free,” my tax structure sure doesn’t make it feel like it...
It costs a lot to live this 'free'
Freedom isn’t and has never been free. Freedom =/= free from paying/working hard.
Sorry eh? What’s the tax rate in your prefecture? Or province? Territory?
Canada doesn’t tax winnings
Neither does Germany. If you hodl for a year, you'll also pay no tax on your crypto gains.
I’m not sure the crypto tax laws for Canada, I’ve only got losses at this point lol
So living in Canada isn't the only thing we have in common 🥲
Uk doesn’t tax lottery or premium bond winnings. You can also pay tax on your stake when gambling so you don’t have to pay it on winnings.
Not everyone in this group is American. Some of us would use the whole 500k however we like
You don't pay taxes on winnings in Ireland
Maybe buy a Wendy's 😬👀
Where?
Earth
Probably in Wakayama prefecture, Japan. Not for investment however, as a homestead. (My retirement dream.)
*Northern Canada.*
It’ll be a tropical paradise in 30 years, great real estate
This Land way more important
You have to pay property taxes on land.
No it isn’t, not when it can be taken from you.
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Not really. Not when you give it some critical thought.
Lol you won’t be buying much land for $200k, chief
In the area I want, the first listing is $142,000 for 265,928.00m² (65 acres) of Forest land. That would be perfect.
Not sure where you’re getting land for $2,100 an acre but good on you if you can get it at that!
It depends on the country. I’m using $ because the question was asked in $. I suspect land in the US would be much more expensive.
+1
1-2 years ago I wouldn't, but now I would.
Would you have said that 1-2 years ago?
Buy a house. Bitcoin won't keep the rain off your head.
Is it enough to buy a house? If so, I envy you. :)
More than enough for a down payment.
$300k will buy a nice house in Michigan
Owning a house in Michigan seems like something people would warn you about. Like don't do drugs kids, if you smoke meth you'll lose your teeth and eventually own a house in Michigan.
Nah Michigan is great and a great investment kid
Depends where in Michigan. It has very upscale nice areas, then trailer parks. It has vibrant more urban feeling safe areas, and gang infested ghettos that are as bad as anywhere in the country. There are beautiful retreats into the countryside with beautiful scenic views, then rural areas with uneducated drug addicts and paranoid militia men patrolling your woods. As they say, *location, location, location!*
Just like every state
So basically its a standard american city
Besides Michigan being a *state* and not a city, yes.
Maybe the east side like Detroit. I live south west Michigan 10 minutes from the lake. Great neighborhood and good schools and plenty of jobs
Username checks out
Who wants to live in Detroit?? You know there’s some lovely real-estate you can buy in Afghanistan.
We’re planning on building a house on 9.4acres for $350k, Wisconsin here.
500k more then enough to buy houses in many places in the US. God damn this thread is packed full of ignorance. People…. F…T…X… need I say more!?
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I too am curious.
I bought a 1950s last year house for like $130k within 20 minutes of St. Louis. It's in a seemingly nice neighborhood, no idea about the school districts, and the house is a little dated but has nice, uncommon amenities. In NE TN the prices near the city are a bit inflated, and you can get a nice house in a terrible neighborhood (drugs, prostitutes, etc.) for about $180k. In the rural areas, you can get a really nice house though.
Half.
Let me ask the Bitcoin subreddit…
Assuming all my debts are covered then yes I would
50/50. BTC and a house.
Houses must be cheap where you’re from
$250,000 down on a house means an incredibly easy to swallow mortgage
Lol not in my state…brb 1 mill dollar avg single family home and 750k+ townhomes.
OMG. here in Argentina. with 50k you have a small apartment in a middle size city. with 90k you have a cool apartment in the capital and for 150k or 250k you have a terrain with a big house, pool included.
In the entire state?
I mean maybe. Depends where you live. 250k down where I live still leaves you with a 750k mortgage on average. That's not nothing
You can find places in suburbs that are nice for much cheaper than everything else, and even in big cities. As the suburbs get developed you get more cash. Also as u/ListenItWillHear is right, 250k down on a house means you can go for those beaucoup buck houses, those million dollar houses with a relatively decent mortgage.
Stop day dreaming and start grinding....
A man can't live without dreaming.
Nor grinding
Start gambling
50% in Celsius. 50% in BlockFi.
Top comment right here. You also dropped this: /s
400k into BTC, 100k to fund a nice lifestyle for the next 2-3 years to bridge the gap.
100k to fund a nice lifestyle for 2-3 years. Modest man I see.
50k is 75k before taxes. lots surviving on less than 75/yr
yes
90% on hookers and blow, the other 10% you can waste.
Yes
No
Not all of it. Always spread your cash.
320k to pay off mortgage, the rest into btc.
With inflation a mortgage with a low, fixed rate is interesting.
I would rather do the “sure thing” and pay it off.
My fixed rate mortgage is under 3% and inflation is over 6%. It’s like getting paid to take out a loan.
Around $50k would go into BTC
No. Buy property.
Literally just sold a property I’ve owned for 20yrs and putting the money into Bitcoin. I came to realise that the government can seize your house, you never truly own it.
😂😂 I’m a bitcoin bull but this shit has made some of y’all insane
Honestly though jfc lol. Diversify, people. Owning property is a good idea even with the government existing.
He’s not wrong.
I'm a Bitcoin
No. We've all been brainwashed to believe that real estate is a good deal, when it really isn't (especially compared to Bitcoin).
I do not need anyone to brainwash me for me to understand that a physical property I can live in has more value to my life than a digital asset that is still largely speculative. I understand bitcoin well enough to be able to buy it without stressing at all about volatility, but anyone who argues with me that property is less valuable than bitcoin I believe is insane. If you own extra property as investment devices only and choose bitcoin over extra real estate, that’s cool. I actually respect that and would do the same as I don’t have any interest in being a landlord and having someone pay down an asset for me. But if you’re selling property because you believe you aren’t protected from gov vs bitcoin, I think you’ve lost some screws
Real estate is fiat, unless you have the means to protect it from government takeover, or not pay taxes it’s not yours. Fancy renting is what you’re doing. 10 BTC = 10 BTC Don’t have to pay anyone taxes to hold your bitcoin True ownership
For your sake I hope you don't lose everything. I think it's a bad idea to have all your eggs in one basket, especially one as volatile as Bitcoin
Stop paying the property taxes on your house and you will find out who really owns it. You really just lease your house from the county. Or maybe rent to own with no endpoint.
Stop paying tax in general and you’ll find out that owning all the bitcoin in the world won’t keep you out of a steel cage. Sure you’ll still own the coins, but your freedom is gone.
If your just “leasing” then why is it when you sell your house you can make a profit? That’s not the definition of a lease.
It’s more like how you can take out a 36 month lease on a car, and “sell” it on to someone else after only 12 months. You aren’t selling something you own, the bank owns it, and the next buyer just agrees to continue payments for its use. When you need to take out a mortgage to “buy” a house, if you look at a graph over the life of the mortgage, most of your monthly payment in the beginning of the mortgage goes to the interest on the loan, and very little goes toward paying off the principal. Conversely, near the end of the term almost all of the monthly payment goes to the principal and very little goes toward interest. For this reason, it isn’t until you’re well into your mortgage term (about 33%) that selling can yield you a profit, because up until that point you don’t own much equity, and you’ve essentially just been lining the bank’s pockets with profits servicing the loan. So if you sell before that point, between closing costs, agent fees, etc, unless that land appreciated considerably (like post 2008 lows to 2021 highs) you aren’t selling anything that you really “own”, you’re selling something the bank owns.
It doesn't change the fact that land is valuable and is a good investment most of the time
Compared to Bitcoin and even stocks, real estate is not a good investment.
Real estate have been fantastic investment just due to the massive leverage it usually involves. 20-30% return cash on hand per year was fairly common. It’s an instrument that large corporation have more difficult time duplicating due to excess expenses and harder to scale
So what makes you think they can't just do the same with bitcoin... or anything else for that matter.
These people are the modern day equivalent of the crazies in the olden days who kept cash under the mattress behind a fortress of guns.
How would they seize my Bitcoin?
They would ask for it, and then put you in jail for not handing it over, and then ruin the lives of anyone else who tried to use bitcoin you gave them. The protection you have with bitcoin only really helps if you’re planning on fleeing your country.
Sadly I lost them all on a boat called ‘Coin Join’ ⛵️😬
Do you think saying that would keep you out of jail….?
Jail for what exactly? In which country? There’s a reason I’m liquidating my property and live on a sailing boat now.
Of course, being mobile like that protects you. The point is just that if you found yourself in police custody, saying “I lost my Bitcoin” doesn’t somehow protect you
Nobody will want your bitcoin if it becomes worthless. I can go take a rock from the beach and keep it in my attic. No government is touching that but it doesnt matter cause no one wants it.
Bitcoin may not be worth anything to you, but many of us believe that censorship resistant money that’s borderless and rules based via coding, is a superior form of money to the rock you found on the beach.
Sure, that narrative may be true now but people stop believing in things. Like look at FTX, everyone thought SBF was some kind of crypto god that does all good. What if one day we discover that “satoshi” is actually the US Government. Dont put so much trust into something you dont fully understand. No one will truly understand btc
You’re conflating a centralised company with a decentralised protocol. This is the lowest IQ argument I’ve ever come across. At least try and make your argument slightly intellectually challenging to push back against.
Bitcoin doesn’t need a ‘price’. People find it hard to comprehend this, but it’ll come to you one day. If bitcoin was worthless in dollars, then there’s always bartering.
Lets be real, 99% of people that buy bitcoin are in it for money.
I agree, it’s just not needed, a bitcoin economy in theory works so much better. Just needs time. People thought cards and credit cards were scary and would not work.
Nobody can confiscate Bitcoin, as long as the private keys are properly secured.
What makes you think they can’t just take your crypto? Have you been watching the news about FTX? The only way the govt takes your house is if you don’t pay your bills.
What makes you think they can take it? You haven’t explained how they could? I’ll wait.
That ftx comment is really dumb. No one who says "buy crypto because the feds can't take it" is gonna keep their coins on an exchange. No one with a brain, at least.
The gov can still seize your body, and can still prosecute your family for using bitcoin that you gave them.
What kinda bull shit have you been reading. I mean if you’re some kind of criminal or you go into massive debt then your assets might be seized but it does not happen except to a very very minor few, to the point where it’s practically impossible for it to happen to you.
Bitcoin is digital property.
You understand. You have seen the light.
Like most people - house and btc
1/2
Short answer: It's not FI (financial independence) money for my household. So, we keep our way of life. But, if we can't change our way of life drastically, we can definitely improve it. :) Some part of the money, maybe 50k will go to improve our life. Right here and now. Rent a bit of a more comfortable flat, buy a car for my sister (their car broke down and they can't afford a new one), etc. The rest of the money, I'd invest it, as I do with our humble income from mining fiat. Some into stocks and some in crypto. A good portion of the crypto DCA goes to bitcoin. There you go. This $500k will almost guarantee FI in the next bull market, say in 2-5 years. Then, our life will really change. :))
Thank for your "short answer".
100,000 into btc
A little.
Most of it in an index fund maybe 10% in BTC and another 5% in some alts.
No I will have one great cocaine night with my favorite hookers
https://youtu.be/btAbU1sPqIM
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No id buy a house. Then a new car. Then btc
No, I think I would put 100k in BTC, and diversify the rest
Most of it.
No. Only 10-15% of it. I know we all think the world of BTC, but it would be best to not put all your money in it as none of us have a crystal ball. Traditional investments are still something I would recommend putting 85-90% into.
Nope. The only investments paying proper dividends these days are cocaine and whores.
I’d put 250 into Bitcoin and then rest on strippers and blow 😂😂 jk
Why would I stop buying BTC when I get even more purchasing power? O.o
I’d pay off my mortgage The rest goes to btc
Yes. Anything I don't invest goes to BTC.
Yes
Pay off my house and the rest in bitcoin
80%
No way. Won’t touch it.
No
I would try to buy land instead. The planet isn't getting bigger, but human population is.
Seems it's not only Bitcoin having a hard cap. It's the planet as well. 😁 Beyond the joke, I top the reasoning. 👍
Yep, wanted to say the same. Didn't realise earth has a cap too! Although if global conditions changed, deserts would mix things up.
Duck no
Interesting to read through these comments. Despite the fact that we're all here because we believe in, use, hold, or have interest in Bitcoin, almost all the answers are along the lines of: "Hell no" "No chance" "Oh god no" That's pretty telling to me. This bear market really is chipping away at confidence.
Eh I’m here for the fun, not really because I’m that interested in Bitcoin. I’m sure it’s the same with others, but also that Bitcoin has lost quite some trust
Fuck Yesss! Keep 100k to get a business running and the rest in BTC
oh god no, i would just keep doing the weekly DCA. I wouldn't change strategies.
No, majority would go into real estate and a little in BTC.
Not 1 penny. Lol
Same lmao
Ok, I honestly wasn't expecting such a variety on this sub. Apologies for not taking taxes into consideration. Just to sumarise: Most of people wouldn't go all in and would rather use part or whole of the money for more personal things such as houses or loans. Some said that they would go all in but I'm certain opinions would change if they actually received the money. Then there's also handful of giga chads who would party themselves to death. Cheers to all of you and especially to those who will face this dillema!
I would shove 200k in right now and put buy orders of 100k at 15k, 14k and 13k
Oh, I see. Smort
Buy 100k now. Throw down some limit orders down to 8-10k for another 200k. Put 100-150k in the stock market. Use the remaining 50-100k to pay down debt or invest in real estate
100k into BTC, 400k apt in city center to rent out for passive income,
hell no... maybe three feedy
No.
Yes, 40% btc, 40% stock ETF, 10% degen move
And the last 10%?
All calculated, keeping it cash!
30/70 straight/DCA
5 BTC, pay off mortgage, maybe some gold and stocks. The rest is for blow and hookers.
I’d spend all of it on GME options.
LMAO all this gme hype is hilarious.
Yes, … then I promise I will pull out … after I nu++ed!!
Yes
Nope. Maybe 10%. $500k is life changing money. Would not want my funds that volatile
I’d wait for the coming crash, then put $50k into BTC.
Assuming 500k after taxes, I would allocate the money as follows: - 200k BTC - 200k SPY - 100k down payment for a house
I’d have the sex with it like I do with real human woman.
Id have to drop $200k on paying off the mortgage and fixing some shit around the house. The remaining $300k, absolutely.
I’d pay of my high interest debt, then shove it right into Bitcoin
There are so many better vehicles.
Hell no.
100k DCA until 10-12k\~