FOMO YOLO for the APES

Baseman

So a buddy of mine, ten years younger has a buddy that went all in on Dogecoin. Entry somewhere ~ $.0015?

Anyway, a few weeks ago this guy's stake is worth ~$13 million. The guy had no net worth and gets to $13 million.

Instead of cashing out and rolling into say Vanguard's dividend ETF VYM which pays a 3+% yield -- enough for $300,000 a year AFTER paying the short term capital gains -- he says, 'nah' YOLO.

Since then, Doge is down 70%.

YOLO? WTF. $300,000 a year with an average CAGR of 6% isn't good enough? In ten years the yearly take is over $500,000 a year. WTF are these kids thinking?

PostGameOrangeSlices

I can sort of relate. Had something 1/100th that scale going with GME. Watched 110k in profit dissappear (though this was due to white collar crime and collusion). Still made great money, but I got greedy and shouldve sold at 100k profit.

The reality is when things are rolling it seems there is no way it can come crashing down.

That is an insane amount of money and he shouldve sold off chunks along the way up. At least doge didn't have hedgefund fuckery manipulating it to the same extent

Baseman

PostGameOrangeSlices said:

I can sort of relate. Had something 1/100th that scale going with GME. Watched 110k in profit dissappear (though this was due to white collar crime and collusion). Still made great money, but I got greedy and shouldve sold at 100k profit.

The reality is when things are rolling it seems there is no way it can come crashing down.

That is an insane amount of money and he shouldve sold off chunks along the way up. At least doge didn't have hedgefund fuckery manipulating it to the same extent

Hard for me say WTF are you doing if you can compound that kind of profit in a short period but WTF? Why not roll the profit into a decent dividend fund, open a new position and do it again?

All this diamond hands and peer pressure of to the moon, are the others saying this going to cover the losses?

Again I marvel at you guys for juicing these plays but be smart and cash the winnings in, start with the same size position and do it again.

greenblood

Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him

Baseman

greenblood said:

Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him

I don't know if he got out yet.

I couldn't sleep going from zero to 7 figures -- 8 in this case -- in a crypto or YOLO meme. I just couldn't.

50% amazed/50% WTF

backthepack

I would never

backthepack

13m is enough to never work a day in your life.

Baseman

backthepack said:

13m is enough to never work a day in your life.

You still have to pay tax, but you walk with $10M.

backthepack

Baseman said:

backthepack said:

13m is enough to never work a day in your life.

You still have to pay tax, but you walk with $10M.

Exactly. It’s enough to just invest in a stable etfs collect yields over 200k a year and have enough to buy a house, car etc.

ntxduck

Baseman said:

greenblood said:

Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him

I don't know if he got out yet.

I couldn't sleep going from zero to 7 figures -- 8 in this case -- in a crypto or YOLO meme. I just couldn't.

50% amazed/50% WTF

Always have a target number and stick to it when you get into any investment. I have a buddy who recently flipped $400 into 2.9 million on some shitcoin, didn’t sell, and now it’s around 150k. Always have a number, and stick to it

Baseman

ntxduck said:

Baseman said:

greenblood said:

Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him

I don't know if he got out yet.

I couldn't sleep going from zero to 7 figures -- 8 in this case -- in a crypto or YOLO meme. I just couldn't.

50% amazed/50% WTF

Always have a target number and stick to it when you get into any investment. I have a buddy who recently flipped $400 into 2.9 million on some shitcoin, didn’t sell, and now it’s around 150k. Always have a number, and stick to it

What, you wouldn't pay the tax?

Baseman

ntxduck said:

Baseman said:

greenblood said:

Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him

I don't know if he got out yet.

I couldn't sleep going from zero to 7 figures -- 8 in this case -- in a crypto or YOLO meme. I just couldn't.

50% amazed/50% WTF

Always have a target number and stick to it when you get into any investment. I have a buddy who recently flipped $400 into 2.9 million on some shitcoin, didn’t sell, and now it’s around 150k. Always have a number, and stick to it

Stupid. I know how to take the payoff and compound it with a 15-20% CAGR over time. That's liquid but it takes years. 7X in 10 years. A lot of $.

whlinder

OK. YOLO.

So if you’re going to YOLO, exactly what do you live for? Not to get all Peterman, but whats your purpose, what excites you, what gives you enjoyment? Was 13m not enough to let you do those things? If not then good luck the rest of the way, the odds aren’t high you’ll ever be happy, unless the thrill is all there is to it.

Sources

When the money is free and comes quickly, you don't think of it the same. And when all you know since Jerome turned on the money printer is green, why worry about it going down?

backthepack

Crypto= stonks? Huh?

dirtysouwfdawg

Sources said:

When the money is free and comes quickly, you don't think of it the same. And when all you know since Jerome turned on the money printer is green, why worry about it going down?

Fuck this. Sorry man but we’re a one income household and I support six. I have a plan so if I hit on anything I know exactly where each penny is going. Im also bi-polar, OCD, and pretty much just a fucking mess. Im a tail end Millenial and I think part of the problem is most 32ish yr olds and younger are dumb as shit. Not you fudgie.

They YOLO due to zero responsibilities. Maybe why I smoked crack for a few yrs before I had a son. Shit changes or something like that.

CSB, I know, thanks.

UW_Doog_Bot

ntxduck said:

Baseman said:

greenblood said:

Fuck it. The guy still went from zero to millions. Not 13 but still what? Around 2?. That’s still life altering money, and he did better than 99.99997 percent of the world. Good for him

I don't know if he got out yet.

I couldn't sleep going from zero to 7 figures -- 8 in this case -- in a crypto or YOLO meme. I just couldn't.

50% amazed/50% WTF

Always have a target number and stick to it when you get into any investment. I have a buddy who recently flipped $400 into 2.9 million on some shitcoin, didn’t sell, and now it’s around 150k. Always have a number, and stick to it

Always hedge on the way up to cover your initial and you'll never be out.

RoadDawg55

PostGameOrangeSlices said:

I can sort of relate. Had something 1/100th that scale going with GME. Watched 110k in profit dissappear (though this was due to white collar crime and collusion). Still made great money, but I got greedy and shouldve sold at 100k profit.

The reality is when things are rolling it seems there is no way it can come crashing down.

That is an insane amount of money and he shouldve sold off chunks along the way up. At least doge didn't have hedgefund fuckery manipulating it to the same extent

I get how it feels when it is rolling, but there is no need to get that greedy. The shitcoins have a shelf life. Very few will make it long term.

1to392831weretaken

So since you are all getting rich off this imaginary bullshit, could one of you at least toss a million or two dollars my way so I can afford a secondhand graphics card now that they're all being used to make your pretend money? Three million tops should get me one. I promise I'll give you a shoutout on the bored.

GreenRiverGatorz

Human psychology is a funny bitch. When you're several tiers away from that kind of life altering money you're clear headed enough to see the pure insanity that holding in such a volatile situation is.

But when you're in those shoes and you've just breezed through several classes of standards of living, the next class up is always more appealing than the last. Once you get a taste you're always going to want more. We're all filthy addicts, it's just a matter of restraining it as much as possible.