/biz/ - Business & Finance

>>26059391
Please explain this concept. Does it all boil down to being ungrateful you only have six figures?

>>26059391
90k-110k hell is worse

>>26059551
with 6 figures you have a sum of money that is large enough to be impressive to the middle class, yet too small for a lasting and sustainable life change
i.e. you can't buy a house (unless you wagecuck and use it as a downpayment; but then that really means you're borrowing against your future earnings). you can't earn enough passive income for a living
it is just enough to see the end of the tunnel, the freedom that 7 figures would bring. and it is large enough any decision you make is scary. losing 5 figures would mean a couple years of wagecucking. losing 6 figures is devastating to most regular anons
hence 6 figures hell

>>26059551
They can't put all on Eth and just wait lmao because they don't want to "wage" a second longer despite being young

>>26059551
it's a purgatorium where you're still bound by the psychological shackles of wagecuckoldry. fear and uncertainty remain.

>>26059551
Yes

Anyone who already has 6 figures will most definitely be a multimillionare by the end of this cycle if they don't fuck it up.

The real struggle is 5 digits where you think you can make it but it requires much more greed and risk which can backfire.

>>26059555
>just hit $113k
Here we go baby! Also checked

>>26059728
>t. 5 figures
you don't know and you won't know until you get there, at which point you'll miss the easygoing times of 5 figures purgatory

>>26059627
>>26059656
>>26059670
Well shit, I recently crossed six figs myself. Greattttt this is what I have to look forward to. I can already feel the creaping dread of not wanting to lose it.

The first 100k is the hardest. Don't give it all back. It gets easier after that.

>>26059627
I'm not even at ten figure hell yet and you've already orange-pilled me. Thank you anon.

>>26059761
I'm mid 6 figures actually, it's nowhere near as bad as it was with 5 figures, stop larping

>>26059555

THIS.
I'm dipping IN and OUT of six figure hell daily.
It's the worst shit ever today it's 110k€, yesterday it was 95k$, this shit is agony.

>>26059795
Having less than 1 billion dollars is the true millionaire hell

>tfw only up to high 5 digits
the scariest thing is that a single retarded trade 2 years ago cost me like 40k present day, I was fucking around with 2k thinking that it was worth the risk
spoilers: it wasn't worth the risk

>>26059627
>you can't earn enough passive income for a living
you can: USDT staking on Waves, pretty stable 50% APY

>>26059821
A combination of link, mvis and clf options put me over the top. But now clf is shitting the bed and im getting worried.

mid 6 figure hell is very bad, luckily I just passed it

>>26059627
I lost five figures on Friday. Not devastating, just depends on how high those figures are. But yeah, 6 figures truly is hell. 7 figures really is where big things start to happen - it just seems so far away, while at the same time it's so close that every decision needs to be obsessed over.

5 figure hell.
Not enough for anything or impressive to anyone, yet a wrong move and I would lose a whole years worth of salary. If I did I would essentially be going to work for free, every second there would be pain.

>>26059930
>>26059627
Also 6 figs is enough to live on easy. in 6 figs you should be making about $100k p.a. if you expect to be a 7-fig chad, and with that growth you can easily live off of it while making massive gains if you live a modest lifestyle.

t. no job and about $23k expenses a year

>>26060020
>in 6 figs you should be making about $100k p.a.
how?

>>26060020
>if you have $100k+ you should be making $100k p a
nigger what?

>>26060195
removing from your crypto gains and siphoning it to your bank account.

>>26060287
>>26060195
if you have $250k and above you should be making about 100k p.a and up. I'll concede that anything under $150k might be hard to live off of, but it would take no time at all to get that to sustainable levels.

>>26060356
>if you have $250k and above you should be making about 100k p.a and up
yeah sure. Reality is that you'd make like 20k a year on average. 100k my ass.

>>26060463
lol what? do you really think we're only making 8% pa? What an absolute cope.

>>26060356
>just make 40% gains per year bro
Fuck you, it is obvious you are lightyears away from 6 figures you don't understand anything
Just making a PROFIT on your worth requires effort. You can also make losses if you're not careful.

>>26060553
Hahahahahahaha, you're fucking coping. I have a $250k stack. Just making a profit is hard? Are you actually retarded? Look at the YTD graph for ARKK, ETH, BTC, LINK, TAN, PBW, the list goes on.

>>26060592
I have a $400k stack. Made it in 3 years from $4k. Arrogant boasting faggots like you will lose it all (that is if you're not LARPing in the first place).

>>26060553
>Just making a PROFIT on your worth requires effort.
Midwit detected.

>>26060626
You're proving my point. And I don't mean to boast, but you questioned my experience.

>>26059391
you’ll get here lad, I’m waiting for 8 digits

>>26060592
>I'm making loads of money in a bullmarket, I must be some kind of genius!
Anyone can make money when everything is rising. It doesn't last forever. Talking about "p.a" when bullruns usually only last 1 year tops is stupid.

>>26060634
Exactly this. It was this reddit mentality that held me back for so long. Overcoming it was the best decision of my life. Profit is easy if you do your due diligence

>>26060553
Depends if you start at 100k then at 350k you take back that 100k than losing that 250k isn't really a loss. You can take steeper risks with that money too now that you've made back your initial investment 40% is feasible in the current market

>>26059627
Six figures is like being the tallest midget in the circus

>>26060670
There will always be sectors to profit from

>>26059391
Feels so bad man, like, a sloppy 300k, fml. Is it over bros?

>>26059930
Very true, especially the obsessing part. It’s all consuming, 5 figures was comfy, 6 was stressful especially mid 6, hit a ml felt good for a day then realised a ml ain’t enough to retire on where I am. Now coming up to 3 and it’s sinking in I’m less then a 4x away from my ultimate goal. The more you have to lose the more it consumes you

>>26060507
>cashflow from crypto
you're retarded af and new.

>>26060787
have you not moved any money yet into the real world maybe a property and at least 250k into stocks? maybe 100k into 5-10 year bonds?

>>26059821
Stop watching seriously. I have no way in place to view my portfolio on purpose though I know it's rough value in my head.

Stop thinking of those swings as losses. It's a percentage move.

/biz/ made me rich but I don't know what to do with all that money

>>26060824
Did I say cashflow? Maybe it's you who is retarded bro

>>26059391
wait till you reach the 7 figure hell, that one is even more hard, not even talking about the 8th or the 9th levels.
Better just call it a day now if you are struggling already

I just got into this and doubled 500 with LINK. What's the gameplan for 6 figures? I know it takes time but I dont want to be one of the retards who barely scratches 50k in three years.

>>26059391
You made me open my laptop to post FUCK YOU.
I can open a small cafe for even 25k you tell me you cant make passive income with shit figures?

FuCK YOU and fuck your bait.

>>26060020
23k fucking expenses a year.

What do you even buy/waste payments on

>>26060853
I took 1.2 out in 2017, got a house, car and 350k between gold/silver and tradingcards . Also earn 26k passive

>>26060935
>What do you even buy/waste payments on
Nothing. I have no desire to consoom. I make music and have a girlfriend who loves me, why would I buy toys for myself?

>>26060970
I think he is saying it's high

>>26061028
Well half of that is rent - the rest is bills, groceries, and stuff like travelling

>450k

>>26060892
This. I am such an ultra frugal person now. I won't throw out reduced coleslaw till I've eaten it all and will plan meals around to ensure its eaten a day after it is stated that it 'goes off'.

I have other ridiculous examples of the levels I have trained myself to go to just to save a penny.

>>26060970
>rent

ngmi

>>26059551
The idea is to make as much as you possibly can. Now when you have 5 figures riding it out, it takes a while to reach the six. And low six figures makes you feel poor yet again. So it is hell, because you need to make it 7 figures. It is never enough. And that, is /biz/
I love it.

>>26061097
Why would I buy property at the quarter-mark to a mil? Doesn't make sense, fren.

>>26061096
I live next to a grocery store. I go for a little walk every night ten minutes before closing and do my shopping in the reduced section. Amazing the gourmet stuff you can get reduced by 90% and above

>350k
impressive to normies but too small to change my lifestyle in any way. Cant wait for this bullrun to lift me to upper 6 fig hell for that almost-milly pain

>>26060892
>>26061096
pls tell me your secret

>>26061066
>rent
rentcuck

>>26061192
What are you holding?

>>26061225
lol I pay like $11k rent a year, it's nothing. I'm waiting to buy a house outright. Do you live with your parents or do you pay a mortgage?

How long does it take to escape 4 figure hell? I'm thinking of going in with 4k link, 2k rsr and 2k avax for a start

>>26059627
Well stated. The apex of six figure hell for me was when I hit $750k. That's when a poverty-tier NEET life starts to actually become feasible for the first time. There's pure terror at that net worth, I was freaking out daily about pulling out and securing my NEET life while I had the chance, vs staying in my shitcoins and hoping for the 2-3x I'd need to achieve true middle-class financial independence.

Networth $2.5M now, with 50% pulled out of shitcoins and invested in boomer indexes, so I fucking made it in the end. That was a scary time for me though.

>>26061225
>>26061286
I agree with mr 40% p.a. here, rent is based
property moves slower than crypto and the higher monthly mortgage is opportunity cost
maybe if house market collapses again I'll buy. Maybe.

>>26061262
115k of BTC, 100k cash, 20k in a property with a family member, rest is alts (LINK, ETH, AAVE, SNX, SUSHI)

>>26061458
Why do you hold so much cash? I'm about 90% in stocks, thinking of moving a lot into crypto though

>>26061543
lowers my risk profile. i'll buy more crypto if it dips hard, but im comfy in my positions right now. Having a 100k safety net means i can take more risk in other parts of my life - i.e. take contracting jobs rather than being on flat salary, and invest multiple hundreds of thousands of dollars in crypto.

>>26061543
personally i think the risk/reward in crypto is insane right now, i moved all my capital in stocks to crypto early 2020.
imo, have ur portfolio looking smth like this:
>60% BTC
>20% alts (the ones i mentioned i hold)
>20% boomer stocks
remember the best investment is the one that allows you to sleep at night. only do this if you're comfy and can handle the emotions of seeing your net worth double then go -40% overnight

>>26061717
I've been following crypto since 2017. I'm not all that experienced, but I would think that the risk/reward in crypto is reaching pretty scary levels. Why do you think otherwise?

>>26059551
It's humble bragging faggotry

>>26061717
Also, if you just stayed in stocks, ARKK for example, you would have made a larger profit than if you were all in BTC

>>26061760
a combination of
>the perfect macro backdrop for BTC & crypto to shine
and
>BTC's cyclical price movements

Money printer, stocks at record highs, bond yields at record lows, people starting to see the negatives of centralisation -> movement to decentralised networks, global instability etc.
Institutions starting to wake up to crypto, buying millions of dollars worth & more and more taking notice every day.
and BTC's supply shock due to the block reward halving (not everyone subscribes to this theory, but so far it seems to hold)
BTC becomes more stable as it's price rises, in contrast to every other asset.

>>26061896
there's no alpha in picking stocks, whereas crypto is so new that there's still so much inefficiency. Buy it before the hedge fund PHD's take notice

>>26061760
It always was a giant risk.
Early adopters made a giant bet and it paid off.

>>26061976
That's a good point

>>26061096
Unironically the same as well.
/biz/ literally opened my eyes to see how far $100-$1000 goes in as a little as 12 months.

I stopped renting around March last year (paying $385 p/w) I literally live out of my 1999 Landcruiser that I converted into a camper, roadtripping everywhere.
I go for a surf every morning, I catch my dinner every afternoon going on a nice leisurely fish that I cook on a BBQ or over a fire. then balls deep into a qt European backpacker who travels with me for a few weeks/months.

I literally get more chicks being effectively homeless, than stuck to a desk paying $385 to hang around a place for 8-10 hours a day, doing the bullshit rituals of dating and catching up to life 2 days a week.

Frugal as fuck and happier for it, what wizardry is this shit?

>>26060697
kek, seems accurate

>>26059391
um how exactly did you only make 6 figures? was it something of the oracles like link or DIA? must know

>made $12k from $500
I have 500 LINK and 1 ETH. I won’t sell or swing LINK. I don’t know how else to increase this stack without more fiat

>>26059627
this is total bullshit. you can quit your job now, and before youve burned through 10% of your savings we’ll be in the 2025 bullrun and the other 90% will 10x.

>>26061221
I spend 4-5 hours on this board every day. Those people were doing that 2-4 years ago.