Oddbean new post about | logout
 Hmmm, what should my bitcoin target be? Work out the #bitcoin value of your altcoin bag (cringe) was in Nov21, that is the prize you could have won if you hadn’t been distracted, now get to it and try and get back to where you theoretically were. 

However, likely when you got that last high to transform all that into #bitcoin, you’d have to sell your whole bag. Let’s say 60% of the portfolio was alts (cringe). Likely a big chunk of this was profit, meaning at least 20% (if not 40%) of that would be cap gains tax, SO

Take 12% off that last cycle peak total of #bitcoin to be realistic about what your peak holdings actually were. Now, would you have sold to cash at this point? Because if you didn’t, you’d be stung with a nasty tax bill a year later when values were in the toilet (nightmare)

Things are good, you made it through the bear market, you escaped the often overlooked tax trap and hopefully your portfolio is now a little more #bitcoin heavy and you have more than you did in November 2021.

Don’t think about the “what could have been”, be grateful for what you have learnt, keep learning, and Stay humble and stake sats. 

https://media1.tenor.com/m/8Oc0vO397R4AAAAC/iamproudofyou-my-hero.gif