OT: Crypto, Stocks, Bonds, Real Estate, Investments, IRAs & Finances, etc.

[robillionaire]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

My advice is to sell and pay off that loan and never do anything like that ever again. You need to get out of debt. People in a ridiculous amount of high interest debt should not be gambling and speculating in high risk assets. And if you were here when ETH went from $1,400 to $80 you would understand it can also get much worse at any given time for any given reason. You think this is low now. But it can get a lot worse. Anyway, that’s my advice, good luck

[br7knicks]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

removing debt should be priority - not advice, but what I would do. You could then use the money you'd be using to pay off debt to buy assets (stocks, real estate, crypto, etc).

my OPINION is that we're about to hit another correction/recession soon - look at how many companies that have a P/E over the average of 15 (Amazon P/E = 60.20; Tesla's P/E is 122.05 ). I don't think it'll be as bad as when corona hit, but i expect things to be on discount soon. that being said, i've been calling for this for a few months now - it has been happening, as i called, but slower than i expected.

***(note, this is called timing the market, which is the first rule of what NOT to do. time in the market beats timing the market every time - Warren Buffet) i bring this up because i pulled out a bunch of positions (some crypto) to get ready to buy things super cheap - i think there will be a major correction, or recession, around this summer. i think ETH (the crypto i believe the most in, and have most my money into) will drop to under $2k soon. i got out of most of my ETH around $3.5k - i only have about 0.6 of one now.


i had a $349/month car payment. I recently paid it off early. I'm now going to be using that $349 to buy more QYLD/RYLD/USOI each month. these are covered call ETFs that pay a monthly dividend. they're risky, and i believe they get taxed as normal income, but they will provide me with steady monthly cash flow that i will continue to reinvest, or use to pay for something else, like the mortgage payment for a real estate property i'm looking at.


everyone is different, but there are many ways of handling it. i would pay off the cheaper debts first.


this is the guy i watch religiously. i suggest you watch the whole thing, but you can skip to around 4:50.

Watch on YouTube

similar version to the video above, but in this one, he explains why you should pay off debt where the interest is more than the rate of your returns from investing (i.e. if you're only getting X<24% returns from investing, you should be paying off that 25% interest debt)

Watch on YouTube

methods to pay off debt

Watch on YouTube

this is the other guy i watch religiously. he's awesome. they're both old school investors, but quite wealthy at a young age.

Watch on YouTube

[Maury2423]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

My advice is to sell and pay off that loan and never do anything like that ever again. You need to get out of debt. People in a ridiculous amount of high interest debt should not be gambling and speculating in high risk assets. And if you were here when ETH went from $1,400 to $80 you would understand it can also get much worse at any given time for any given reason. You think this is low now. But it can get a lot worse. Anyway, that’s my advice, good luck

To be fair, I was in a situation where I really had no option and desperately needed the money but yes I totally agree and I will never put myself in that situation again. I'm doing much better financially and I'm much more knowledgeable than what I was 2-3yrs ago, but still have so much to learn. Luckily, I got into ETH when it was around $300 so I'll be making a healthy profit. But I did sell my ETH yesterday and I'm paying off the loan tomorrow.

[robillionaire]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

My advice is to sell and pay off that loan and never do anything like that ever again. You need to get out of debt. People in a ridiculous amount of high interest debt should not be gambling and speculating in high risk assets. And if you were here when ETH went from $1,400 to $80 you would understand it can also get much worse at any given time for any given reason. You think this is low now. But it can get a lot worse. Anyway, that’s my advice, good luck

To be fair, I was in a situation where I really had no option and desperately needed the money but yes I totally agree and I will never put myself in that situation again. I'm doing much better financially and I'm much more knowledgeable than what I was 2-3yrs ago, but still have so much to learn. Luckily, I got into ETH when it was around $300 so I'll be making a healthy profit. But I did sell my ETH yesterday and I'm paying off the loan tomorrow.

Trust me I understand bro. I had to get payday loans to fix a flat tire on my junk car back in the day. They are predatory. Straight up criminals half the time

[poeman]

I'm in a tough situation right now, I think it has more to do with my emotions because I think I know the right answer lol.

Any opinion would be greatly appreciated!

About 1 yr ago when times were tough, I had to take out a terrible loan with OneMain Financial with a crazy high interest rate of about 25%, I'm paying about $170 every 2 weeks and roughly $90 of that $170 goes to interest. My crypto account(ETH) has enough to pay that loan off, but I would basically be emptying out of my crypto account. Luckily, times are much better now and I'm doing very well financially, I just paid off my credit cards and my fico score jumped from the 590s to the 670s. I make enough to easily afford the $170 every 2 weeks but I feel like I should sell my crypto and pay off the loan completely. On the other hand, I look at the recent drop that we've had in crypto and it makes me hesitate because I want to wait until it comes back up again which I know no one can predict will happen, if ever. My mind says to sell and pay off the loan but my emotions are telling me to hold because crypto(ETH) can go on a massive run at any given time for any given reason. After that loan, I'd have my car loan left(also high interest rate) and I plan on refinancing that loan for a lower % rate, paying off the loan and refinancing the care would help bring down my DTI significantly because I'm currently paying $405/month for the car and roughly $340/month for the loan, after doing the above it would bring my car payment to about $300/month and eliminate the $340/month.

My advice is to sell and pay off that loan and never do anything like that ever again. You need to get out of debt. People in a ridiculous amount of high interest debt should not be gambling and speculating in high risk assets. And if you were here when ETH went from $1,400 to $80 you would understand it can also get much worse at any given time for any given reason. You think this is low now. But it can get a lot worse. Anyway, that’s my advice, good luck

To be fair, I was in a situation where I really had no option and desperately needed the money but yes I totally agree and I will never put myself in that situation again. I'm doing much better financially and I'm much more knowledgeable than what I was 2-3yrs ago, but still have so much to learn. Luckily, I got into ETH when it was around $300 so I'll be making a healthy profit. But I did sell my ETH yesterday and I'm paying off the loan tomorrow.

Pay off the loan would be my answer too. Glad you are doing that, you can easily get back into crypto finance if that is what you want. Paying that much interest and timing minimum payments is the worst

[Stannis]

Overvalued tech, ARKK, and Bitcoin + Crypto absolutely getting slaughtered

[knickabocker88]

Knowing this was going to happen, doesn't stop the hurt. It's like watching the Knicks.

Might start some positions if the S&P dips below 3800. I've eyed TQQQ but waiting for a bottom.

[Stannis]

BTC now under 30k and altcoins getting punished. Oofffff

[Stannis]

Down down down BTC under 30k. DOT @ 9 dollars now. AVAX @ 28. SHIB about to lose a zero. StableCoins like UST down too.

This is wicked

[robillionaire]

Down down down BTC under 30k. DOT @ 9 dollars now. AVAX @ 28. SHIB about to lose a zero. StableCoins like UST down too.

This is wicked

remember, it’s only the beginning

several folks mentioned holding LUNA I hope they are ok today

Watch on YouTube

[Stannis]

LUNA basically zero. DOT at it's debut price. Lot of fear that Central Exchanges will liquidate your crypto if they go bankrupt so people are selling instead of transferring to a wallet.

Bitcoin 5k ?

[Stannis]

I haven't done an update on the crypto market in a while, but some have already known especially if you follow my twitter. It looks like my indicator has flipped bullish and confirmed on a weekly time scale. This tends to be a pretty accurate indicator but not 100%, just wanted to update you guys, I have gone back into positions and watching the market carefully. There seems to be some macro headwinds but both the crypto and stock markets have corrected like crazy the past few months in anticipation of it. I am bullish for the time being but obviously not as bullish as I was late 2020 and beginning of 2021.

Appreciate the update fam.

What's your twitter?

https://twitter.com/lordmoonbags

You got any input on what's going on?

[Stannis]

Read on Twitter

?s=20&t=aAMcLcst24_yzJsfBDvdeA

[Synciere]

Bitcoin will be fine in the long run, but this is partially Defi messing with the system. Binance Coin, Solana, Ethereum.. the blue chips will survive, but until regulation comes down we’re going to see this. At this point many of the larger investors would welcome regulation in exchange for stability. Not sure we’ll ever see the profit margins we were seeing in 2020.

[Garbagelo]

Appreciate the update fam.

What's your twitter?

https://twitter.com/lordmoonbags

You got any input on what's going on?

I have always thought that LUNA was a massive ponzi waiting to be unwinded but I also thought it had gotten big enough for it not go down this quickly. Hope no one got hurt with Anchor protocol.

I remember what happened with TITAN and IRON and the exact same thing went down

Now we will find out who was hurt by this and how it will affect the industry

We may see months and months of unwinding of bad debt due to the unraveling

However, in the meantime, I think we had a capitulation for now. Daring traders can try to catch a bounce. If it breaks 45k, I expect a potential exit pump so all those funds can unwind at higher prices. Most of the seasoned crypto twitters are suddenly bullish and my indicator was still bullish all the way to about the mid 29ks, closing above 30k would be quite good. As always, alts follow the leader, which is bitcoin. I am still cautiously bullish, catching bounces and taking profits. However, I do expect the unwinding of funds to probably decimate the majority of the industry before long.

Be careful in algo stables, this is a copy cat league

[HarthorneWingo]

God speed to you cats here. I don't know how you have the stomachs for this.

[Stannis]

God speed to you cats here. I don't know how you have the stomachs for this.

It's really not that bad if you diversify. While I stupidly did not sell any of my Crypto when Bitcoin hit 60k, I also did not buy any.

tbh, I'm still surprised it's around 30k. But I honestly think the Crypto market is viewing this Luna crash as a good thing. And this can actually be bullish if you are invested properly. Just like the stock market, when $hit/ponzi companies die, people invest in other (better) companies. I think this will happen with the Crypto market will people will buy more Bitcoin and Ethereum. In order for my thesis to play out though, that means **** like Doge and Shiba will have to die. The market is flooded with nonsense.

Anyways, this is quite healthy if you have a long-term horizon. Just like the stock market bubbles where stocks like Pets.com/WorldCom die so legit companies can grow bigger, **** will have to die to make more room for the legit coins/projects. I think this will be a lesson to eye better projects, do better due-diligence, and diversify.

We are actually seeing this in the stock market right now (e.g. Carvana and Teladoc for example). Companies are on the verge of bankruptcy.

Unfortunately, I think 9 people who invested too much in Luna committed suicide. And I'm sure tens of thousands ruined their lives. You hate to see that kind of grimness. However, this is also why you diversify.

[Stannis]

I have always thought that LUNA was a massive ponzi waiting to be unwinded but I also thought it had gotten big enough for it not go down this quickly. Hope no one got hurt with Anchor protocol.

I remember what happened with TITAN and IRON and the exact same thing went down

Now we will find out who was hurt by this and how it will affect the industry

We may see months and months of unwinding of bad debt due to the unraveling

However, in the meantime, I think we had a capitulation for now. Daring traders can try to catch a bounce. If it breaks 45k, I expect a potential exit pump so all those funds can unwind at higher prices. Most of the seasoned crypto twitters are suddenly bullish and my indicator was still bullish all the way to about the mid 29ks, closing above 30k would be quite good. As always, alts follow the leader, which is bitcoin. I am still cautiously bullish, catching bounces and taking profits. However, I do expect the unwinding of funds to probably decimate the majority of the industry before long.

Be careful in algo stables, this is a copy cat league

Any opinions on Polkadot here?

[Garbagelo]

I have always thought that LUNA was a massive ponzi waiting to be unwinded but I also thought it had gotten big enough for it not go down this quickly. Hope no one got hurt with Anchor protocol.

I remember what happened with TITAN and IRON and the exact same thing went down

Now we will find out who was hurt by this and how it will affect the industry

We may see months and months of unwinding of bad debt due to the unraveling

However, in the meantime, I think we had a capitulation for now. Daring traders can try to catch a bounce. If it breaks 45k, I expect a potential exit pump so all those funds can unwind at higher prices. Most of the seasoned crypto twitters are suddenly bullish and my indicator was still bullish all the way to about the mid 29ks, closing above 30k would be quite good. As always, alts follow the leader, which is bitcoin. I am still cautiously bullish, catching bounces and taking profits. However, I do expect the unwinding of funds to probably decimate the majority of the industry before long.

Be careful in algo stables, this is a copy cat league

Any opinions on Polkadot here?

It didn't do as well as it should have

I think it is lacking userbase

However, it has promising technology, stability, as well as safety that other projects clearly have not shown

If I didn't do crowdloans, I would be staking my Polkadot and be earning like 10% APR paid in DOT right now for the long term

This would be an investment

[Stannis]

I have always thought that LUNA was a massive ponzi waiting to be unwinded but I also thought it had gotten big enough for it not go down this quickly. Hope no one got hurt with Anchor protocol.

I remember what happened with TITAN and IRON and the exact same thing went down

Now we will find out who was hurt by this and how it will affect the industry

We may see months and months of unwinding of bad debt due to the unraveling

However, in the meantime, I think we had a capitulation for now. Daring traders can try to catch a bounce. If it breaks 45k, I expect a potential exit pump so all those funds can unwind at higher prices. Most of the seasoned crypto twitters are suddenly bullish and my indicator was still bullish all the way to about the mid 29ks, closing above 30k would be quite good. As always, alts follow the leader, which is bitcoin. I am still cautiously bullish, catching bounces and taking profits. However, I do expect the unwinding of funds to probably decimate the majority of the industry before long.

Be careful in algo stables, this is a copy cat league

Any opinions on Polkadot here?

It didn't do as well as it should have

I think it is lacking userbase

However, it has promising technology, stability, as well as safety that other projects clearly have not shown

If I didn't do crowdloans, I would be staking my Polkadot and be earning like 10% APR paid in DOT right now for the long term

This would be an investment

Thanks!

DOT does seem to be holding up pretty well compared to the other altcoins. It is pretty quiet compared to something like SOL or even ADA. I remember SOL getting pumped last year and it just never stopped and kinda of just owns that #3 spot with no questions asked.