Topic: 10k BTC! (Job is going bye bye...giving notice) :) ie MY SHIP CAME IN! Take Poll (Read 1253 times)

Very very cool story. Congrats! I'm very happy for you! I'm with you, I've made enough to retire, but I'm 38 so ... not exactly time to do that yet. But I'm starting a business with my stash which will move me into crypto full time so that will be awesome. Best of luck to you!

I voted for $50,000. That's probably big enough for me to be able to start my own business and continue focusing on Bitcoin. That would sustain my needs while planning and starting my business of choice. And the good thing is that it might happen within the year. I am very positive about it. By the time, this dumping will end, the growth will be very bullish and quick.

My job was working at a dev disabled house (deaf/blind)....thus I will still pop in once a month or so with Pizza and keep an eye out with or as a guardian...

thus ..can love the job..not need the job..and still hang out.... It's not like I got paid a lot in that field anyway So the choice was fairly easy.

Thou, I am pretty sure I broke crypto...I retire on Monday my 1st day of retirement in full and things begin to go pear shaped..yep it was me..

the Karma of the Universe could not let me just be a retired lazy slob..no, Karma demanded that I feel guilty for the reverse effect of blowing up crypto!

Ack!

 

I don't need to become jobless. I just need to get rid of $20.000 I owe the banks, take my old, poor parents to few countries in Asia/North America since they never left Europe and I'll be happy. Everything after that is a bonus. Hopefully that bonus will be Kia Stinger, but oh well, one can dream

Good luck for your decision. but for me i will not quit on my JOB because i loved it. Maybe if i have a tons of money i will consider putting my own business.

Remember wealth is measured by time. If i can live for the next 20 years without working or earning money. then ill quit my job.

Well, I dumped a mess of LTC at the BTC low and the LTC low....(my skills at when to sell are impressive (not))

so did that fix it yet?  We should be in full rebound mode...what usually happens when I sell some crypto...

I mean I retired on Monday..I figure that shift in the Universe of Karma ..jinx'd the works..thus I caused the tanking of all crypto.....thus trying to fix this

sorry about all this...I'm bad (caused the crash...karma sucks)

Again...as I speak crypto is tanking...the shock to the world of me not working was too much

alas, I broke crypto with my self centered retirement

on the other hand

panic selling LTC now to pay tax man from last year..I really, really wanted to say I could hold 500 LTC for a bit

not gonna happen....


down to 400 LTC in the hoard at least (i have btc hoard not selling...fun watching my fortune take a dump there)

woe is me.....

broke it all with retirement...and now selling on the low for LTC probably to set aside some $$$ for the tax man from

last year

now lets see if coinbase even lets me sell some LTC or it just pukes like last time there was a run on them

fun times (not)

I love reading such stories. Congratulations Searing, you deserve it all. I wish one day it will be me who is giving notice at work. I am working very hard to achieve that.

I wish to make an apology

I retired and crypto tanked

It is all on me...I broke it with my retirement

damn!

brad





p.s. currently 'panic' selling some LTC to pay the tax man for last year (in case) assuming coinbase will let me

in and do so (I wonder..with past rushes to coinbase not optimistic)

ah the glory of crypto

always the drama

it is like a smoking hot bi-polar girlfriend..when it is good it is great..when it is bad its the worst!

congrats!

1st rule of retirement: throw away your clocks.

Update...retired...its a done deal finally!

 I retired yesterday Jan 14th...all due to BTC....living on mining revenue and in HODL mode on BTC and other cryptos...

Spent today, puttering around the house doing chores....been a wage slave so long..kinda clueless on how to approach this...retiring early stuff...

kinda surreal in fact...., on what to do...I've no clue, yet, in that, once you wake up retired...everything suddenly is OPTIONAL..you need to do that day!

....clueless presently...but I'll figure it out!

Well, I had to hang in there for 2 weeks longer than I planned (the private insurance had a web issue with my application ...so had to work 2 more weeks to keep insurance up)

but

My last day of work now is Sunday January 14th in the am. Can retire w/o crypto..when BTC hit 10k it looked silly to continue....with that as a backstop...

my issue is I probably SHOULD sell 10% to 20% of my crypto hoard of BTC and ALTS ..to be safe and TULIP Insurance....in case it all goes boom..*unlikely* but still

but got ALL my crypto from mining, all ROI'd..and still making crypto to live on (thus retire early) each month w/o touching crypto hoard

so the issue with me is HOW DAMN hard it is to let go when you see every day how hard it is to get crypto out of your ROI'd units that mine

thus you pray for a price pump and blamo, you are good for another 6 months..quite the ride

I assume I'll crack like a walnut as soon as my income stream from mining dries up, but until then I'm managing to HODL...but numbers are getting 'interesting' as a heart atttack

(of course, like all of us I'm just one stripper/gold digger away from blowing it all for the right lies) but that is a given,

the catch is

1) you have to be a boring nerd to get into this in a big way anyway

2) if you do well in crypto as a result ..you are still boring...wtf?

best to keep this to ourselves ...I suspect most of us would be pliable exotic dancer putty with the right lies

yeah what you said...hitting 10k as a backstop in price for BTC, mentally, ..well, hell, I don't need it crypto to retire...but as a backstop to pull the trigger it was dandy

having it in place...thus took the leap!

brad

(I will likely be bored, and get a job as a 'Walmart Greeter", I was always nice to the workers at Walmart, I always figured I'd end up there someday in my old age!)

I think what the guy meant is the price of BTC hitting $10K back in Nov is allowing him to retire. Congrats

omg, you have 10 000 BTC?

An update..have to stall on my retirement....even private stuff has to go thru my states web based healthcare www site...

all insurance apps go thru this state site. (The state got scam'd by some Insurer's in years past...so this acts as a 'gate' to watch them, is the logic)

they messed it up ..said I make no income, oops......that is in NO way correct,  until they fix it...can't get on the site to reapply.

Been in limbo for 16 days.

Thus, keeping the job until I get the private medical card in my hot little hands and then retire, so it sucks but what can you do.

I plan on retiring here within the month if lucky.

(trying to wrap stuff up at work and make the move health care etc...a pain!)

But, trying to be a responsible adult...don't need crypto to retire but it is a nice 'backstop' even if never used...

I am still minng, though at the rate all flavors of crypto is going up..it MAY be unlikely I will get any mining equip

again this year, just because....makes no sense ..(even if the equip did have good roi and not expensive ...which is iffy)

Thus filling up the following buckets as best I can, and all can be taken off like equip and elec from gross income..(including any crypto cash out of coins)

1) solo 401k self-employed socked w/as much as allowed for 2017.

2) solo 401k self-employed socked w/as much as allowed for 2018. (estimated..kept in an account as cash till prudent to fill it up)

3) electric/rent/etc from data hall and miners in basement

4) all medical insurance can be taken off gross if you are self-employed...thus with mining...set aside 2 years for that (also in cash for use or full buy out yearly)

5) an emergency fund of as much as I can think of needed for House/Medical/etc

Now, most will say ...why not keep all that in crypto...the 2017 and solo 2018 plans you can put your assets in crypto (after they go in as cash) but as my CPA
says, likely that is the last crypto you ever want to cash out!)

The other stuff is just peace of mind...I have been in crypto since 2013...I was there when 10 days or so, before the 2014 April deadline of doing taxes...the IRS

dropped the 2013 guidelines bomb out of spite..and I had to go to CPA and do a correction....which was fine....all that nice equip deductions! NO taxes paid!

But still, that is NOT why the IRS waited till 10 days before..was just to screw with us...so best to be aware they can always still drop a shoe, before April...

As to the Coinbase demand, of 2017, we want ALL your info on all 15 million folks on Coinbase...including passwords, because we found 3 people cheating w/IRS
using coinbase....

well having an emergency fund, above and beyond the solo 401k retirement stuff of 2017 and 2018 ..and also have my health insurance paid up in full up until
I'm 65 years old> (2 years)...I plan on taking my Soc Sec at 66 and 3 months which is the full status on such...

All seems prudent

so

1) IF BTC does its past history of a 30% correction, I can pat myself on the back and have all this cleaned up and in place, and pat myself on the back.

2) IF BTC and other cryptos I have tripled in value or something, and I had this stuff out in cash too soon, on this me being cautious....well, that won't matter much

at those prices to me either...

win/win/win

time/backups/pump (or so I hope)

anyway, how I'm approaching mining in 2018 and free some crypto back to $$$.....

I used to do the above as a 'hedge' with equip ...betting like this...but with solo 401k and electric/data hall rent, now medical insurance all ACTING LIKE equipment
in being taken off my gross earnings in 2018.....why get dubious miners (at least until say June 2018..maybe for fun look around)

Again, beats...betting on March orders of L3+'s and other dubious cryptos for hardware stuff from Bitmain in 2018, esp with solo 401k and medical, being an IRS hedge
Just like, equip off my gross income


Anyway, times to buy equip and times not to buy equip, now is not the time for me and the above...but likely MAY crack on this around JULY 2018.....if/when some

product comes up that makes sense....but anyway, how I'm playing with the wealth...trying to be prudent in case 30-50% goes poof....

whatever you do for planning it is all about protecting the ego, don't ya know.....so even again if all crypto's pump 3-10x again.....

I have my reasons in place, for doing the above...

my 2 mbits worth!

later

brad

edit: solo 401k link....

https://www.checkbookira.com/

Again, that above works for medical all off gross income too, IF you are set up as self-employed in the USA, (ie mining) IT must come from Income...site has

on the solo401k has a calculator on how much you make 'self-employed' with a solo 401k you can put aside...anyway, the link is for details, on solo 401k.

Get a good local CPA is also a good idea if you want to phase stuff out like this. (example, all my job income last 6 months has gone into Health Insurance,

Health Savings Account, Work Retirement Plan (yep I can do that and the solo401k), Dental, and take a mess extra out for anticipated State and Federal

Taxes I may owe....if too much ...I'll get a big refund...as a result, my job has been paying me (most of this is pre-tax stuff) $24.11 every 2 weeks for months.

lol

anyway, it is all about protecting the ego, if things go 'pear-shaped' ..thus if crypto corrects 30% or more...I will feel prudent....as a good move....If crypto goes

nuts an say triples in price...the above won't matter much...and I will feel even more prudent

Congrats to all those who held on. You did good

Just wanted to stop by the thread and say congratulations. I think at this point in time it's good to be diversified. I think the CME news and launching of futures on 12/18/17 should give us and the market an idea of what to expect. I.e., does it start a bear trend or do we keep pushing for the stars. Thankfully it sure looks like most current toasters from bitmain continue to be fairly reliable and working well. My only suggestion would be to continue to ramp up on the home scale mining. AFAIK, expenditures on mining can be expensed the year put into service under the 179 depreciation thing; so you can reduce income earned from mining and continue to expand operations. That should keep earnings and taxes maybe a bit lower.

I think for me, I don't think I'd really want to retire, at least not yet, I just want to expand mining operations more and more. It's an itch I just can't stop scratching lol. Still, having that sense of financial security is great and must be a huge relief.

talked to my CPA and Edward jones advisor today in the same room...to say they are 'stunned' is an understatement....

they got to converse and see that I'm not COMPLETELY crazy, with crypto, for my retirement....it makes a 'nice backstop' thou!

I don't need the crypto or mining I'm doing to retire 'in the lovely lifestyle that I have now....on Dec 31st, 2017 I pull the trigger

(got to keep the health insurance until Jan 1st, 2018 don't ya know from the job before the change. (job is gonna freak on notice Friday)

thus, the main question from them...with crypto as a 'backstop' was how will I handle it when it goes Tulips? Alas, almost got them to newbie status...so close!

thus still freaked out about BTC and crypto FUD......so they are still not on board...getting any....themselves....at this time

progress though....by tulips...they see it dumping to 2-3k, so hey I will take what I can get...not going completely to zero

eventually, FOMO, will wear everyone down to getting crypto...especially if ETF's ever come to pass...

I just figured out I have to wait until Dec 31st, 2017 to retire.....need to keep health insurance until my individual health insurance plan starts on 1/1/2018.

Duh. Kinda obvious. So Gasp! I will have to work an EXTRA 2 WEEKS! (the horror!) Ack!

Anway, have more time to line stuff up, I guess...but yeah...going w/o health insurance for 2 weeks before the other plan kicks in could be bad. (duh!)

Anyway, I will just have to work thru this mentally that it will be 2x as long as I expected to be an escaped wage slave

(tips: can be sent to the btc address on my profile here on bitcointalk...to repair the obvious mental scarring of 2 more weeks of work before retirement....I know it is
going to be hell to endure....but I shall attempt to be strong!)

lol

brad