Topic: I've made 600k in Crypto - When to call it quits - page 22. (Read 15599 times)

Living from playing trading is not a wise decision. You certainly will never be satisfied with what you have before everything runs out. My advice is to sell some of your assets and start enjoying the results of your hard work during this time. Is not the result worth your effort. If you still want to save the coins then just hold XRB and PRL whether it will be boom or not, it will not affect your other money.

OP must be a teen ager or I assume he is still underestimating the potentials of crypto currencies. Yes, we may leave off all other coins but we can still keep believing into bitcoins for another decade or even for another half century too.

I like to suggest OP to quit his altcoins and can have all of them into bitcoins to hold for years. Just 600k dollars will be nothing in my opinion when considering the upcoming boom in bitcoin price levels. I need to agree some altcoins also will boom still bitcoin will continue its dream running to another extend.

Can just agree, it is just starting off, I think also the next couple of years will be good with crypto.  One of my friends made a lot of money with crypto and his initial investment was under 10k.

He might just cash out on some and keep the rest.

For me it would be all about financial security, I just started and if I ever make it to 1 Million (or even 600k as they guy wrote), I would probably sell part of it
to cover my mortgage and debts and trade with the rest of it.

Monero would be the perfect hideout for your coins. No rich list, no pesky authorities... But also, no way to spend it really, so ... nope, not a good idea.

Yes, really strange and risky portfolio. You are really lucky if you made yours 600k.  At your place i would fix the part (may be 30%) of portfolio in Dollars/Euro (to keep safe) and other part to review, otherwise you can lose everything. You should empower you portfolio.

I live in a super expensive European city, 600k barely buys a flat! (Think stockholm / Oslo / London/ Geneva sort of expensive!)

Will be a while before I retire.....

I agree with the opinion about XRP, right now I believe the price of XRP has been mainly driven by the its hype and nothing really about the project itself. People moved out of bitcoins right now as a normal consequence of its recent incredible price pump and could not have sustained itself at that price level. Another factor is that the problems with its network as well as the fees has driven off a lot of users. Probably bitcoins will pump by the time a fork is again introduced.

Railblocks has been indeed interesting, I've read about it since last year, though I never thought it would grow this much. I was looking at it before at the price of $0.14 and it has grown about $30 a piece. I wish I invested in this too back then.

Earning that amount is not yet time to say that you will call it quits. You still have a lot to do in life and more than likely that amount is not sufficient if you will live a good life with your own family. Unless you want to live a very simple and quiet life in the suburbs.

is 600k worth a lot where you live?

A serious question, because you can't retire on 600k in the US.

If it is a lot, then retire. At 25.

Once retired, give me daily advice on how to do better, in other words: manage a % of my portfolio  (big name for a small pile)

You are right, why we should stop if we do see that this thing could really benefit us even more? $600k for me wont really be enough for me to stop. As long i can able to generate income with my skills then theres no stopping as of now and i dont know why arent you grateful on your skills, these have been hoping by most people because they do know this thing would really be good for long term and can really make your rich or changed your entire life since you do know on how to trade up.

why would you he quit bitcoin its still rising its like he has a property in a tourism area.keeps rising all the time

Make the decision based on what it is best for yourself, if your friends are not crypto traders do not take their opinion, they do not know what they are talking about, in my opinion you should sell only a portion of your stash so you can improve your life and feel better about holding the rest.

that is great to hear.you are already rich and very successful here because of the crypto currency. if i were you, you should still continue until you are married.

That is imaginable because your arguments seem to have some weight, but to lend credence to it all and probably spur up couple of frightened forks as well as some snoozing giants in here, attaching some proof, would be more like it!

Regards when to quit trading, I think it's never! No good football coach changes a winning team, so if trading is your ace, why want to quit! As for me, by whatever time I would be ready to retire, one of my offsprings most have become interested and ready to carry on.

At 600k, my focus would narrow down to consolidation and my form of diversification would be to channel some coins into mining of my top holdings - Bitcoin, of course is exempted till a farm is probably in place.

I personally would never quit if i have had already earned that much through trading, but I would have converted some of it to fiat and would have already started living my desired life without any further wasting of time because we never know what happens tomorrow.
You should divide your assets in two parts. Make them 70%-30% or 80%-20% and use the lower part for yourself and the bigger part of further investments and trading. After one year again, do the same, and continue the process. It will make your life a lot easier.

I prefer to go for lower capped coins that hold real potential, Ripple I will never touch because I don't agree with the centralization aspect of the coin, and I think Raiblocks is actually a much better coin than ripple, plus is it truly decentralized. I would rather have a 43% stake in Raiblocks than Ripple for that reason. Like I mentioned, I will diversify my portfolio into a few more top 10 coins, and Ether will be one of them.

If anyone is reading this and is unaware of Raiblocks, Oyster Pearl or Enigma, I suggest you read into them. All very insteresting projects that could have a big future.

I am aware that it is a risky game I am playing, but I feel confident I know what I am doing. I Hodl'd my BTC through thick and thin for 4 years before I was happy with the return and am happy to do the same for the Altcoins I believe in, I agree a little diversification will make my portfolio "safer".

Just to be clear as well, I am 100% believer in blockchain technology and even if I were worth $600,000,000 I would still have large stakes of my money in crypto, as I think it is the future.

Oh and for anyone that commented saying I don't sound a newb to the forum, I am not I hold a hero member status on another profile, but I wanted to be a bit more anonymous when talking about a delicate topic like this 

Ethereum is the good choice of crypto currencies to invest because this coin having high potential and possible to touch the position of bitcoin in the future. other than that the amount of this coin is affordable for many users, not like other crypto currency even bitcoin.

Right now I would say that it will be good to invest in ETH, like some others has recommended here. It is quite a good investment since ETH has been one of the most developed coin in the cryptocurrency scene and has a lot of plans for this year. I am not sure though how will the community react to when the time comes that it shifts from POW to POS, whether it would raise the price or it would drop everything down due to the fact that we should remember that the Ethereum Foundation practically holds shit tons of ETH in their reserves which will result to them being the biggest miners in case POS is implemented. However that will still take a long time, probably it would take more than a year to happen. Before that time, I think prices could even triple or quadruple due unless Bitcoins upgrades itself.

Watch out bro Ripple is falling,many people were trapped in ripple's hype and now the price is crashing under the earth.It is not a good idea to invest on a centralized coin.I think this is Ethereum's year and you already can see the price of ETH is going to moon.