Sunday, September 17, 2023

Strategies in Getting 1 M in less than 2 Years

Hello everyone,

i'd like to humbly ask you all for advice.

For my short background, in my line of work, i am able to retain 40 - 50 mio /month for savings only.

I needed to obtain 1 M in the space within 2 years, if possible less than 15 months, to prepare for mmy wife's pregnancy. My wife is getting close to 40, and our window to have a kid is getting shorter.

I plan to put said 1 M in obligations, sukuk, FR, or any financial instrument that will generate a passive income between 5 - 6 mio/month after tax. This 1 M shall be our rainy day savings, to never be withdrawn in any event, and to be used to generate income in near zero risk investments. It shall be our pillar to help us pay for basic necessities.

However, after purchasing our apt, i am left with a mere 100 mio, and above income is what i could reasonably expect. 40 mio on most days, 50 mio if things are getting swell. Hence, i might earn 480 - 600 a year reasonably.

So how do i shorten the window period? one method i am aware of is to invest them in stocks. But to be honest, indonesian stocks are scammy. I need to find a stock that can at least perform a 30% in a year. Are american stocks any better? what's the deal and what the taxman is gonna take from my earnings in US stocks? Would it be better to gamble them all on cryptocurrencies like Bitcoin and ETH? what's the taxman gonna take from me if i earn from crypto?

Additionally, i'd like to know if it's better for me to purchase our new apartment thru KPR instead. BCA offered a deal with me to loan 400 mio for now, and i can pay off the loan on the 10th month, with a 20 mio extra for BCA. However, i do not know what to do with the 400 mio at present, nor how to grow it between Oct 23 - Oct 24. They say this year is a terrible year to do business, like resellers and such, at least until the political year passes. There are many stories of people going bankrupt circulating in the streets now..

Pls no suggestions on investing in skillz. i am tired from work as it is already, and i appreciate the thought.

thank you in advance for serious repliers.

Crypto to crypto taxable event question

Assume in 2018 I acquired 1 Bitcoin for $10000 USD and in 2023 I exchanged it for 10 Ethereum (numbers are random and used purely as an example). Assume the bitcoin exchange at the time of exchange is $20000 per Bitcoin, then afaik I need to pay (20000 - 10000)*0.15 = $1500 capital gains tax in my 2023 tax return, even though I never sold that bitcoin for USD, as a crypto to crypto exchange is a taxable event.

Assume now the 10 Ethers I acquired in 2023, drop in value in half when I sell them in 2025, and I sell them for $10000 USD. Therefore I started my crypto investment with $10000 and I exited with no gain or loss. However I paid $1500 in tax in between because I made that exchange between 2 different cryptocurrencies. In 2025 return I am going to report a $10000 loss. Does this mean I am getting the $1500 from IRS back?

For the newcomers: the top 30 Cryptocurrencies, each explained with one sentence.

I tried summing up the top 30 coins in 1 or 2 sentences. It is not perfect and you obviously shouldn't make any decision based on this list, but hopefully it will help newcomers find some projects they're interested in and understanding a little bit better this technology.

Bitcoin (BTC): Bitcoin is the pioneering cryptocurrency, designed as a digital store of value and medium of exchange, often seen as a hedge against inflation and a gold equivalent in the digital realm.
Ethereum (ETH): Ethereum is a leading smart contract platform enabling decentralized applications (DApps) and tokens, with a vibrant ecosystem of developers and projects.
Tether (USDT): Tether is a stablecoin pegged to the US dollar, offering price stability and liquidity in the crypto market.
Binance Coin (BNB): Binance Coin is the native token of Binance, one of the largest cryptocurrency exchanges, used for trading fee discounts and various services within the Binance ecosystem.
XRP (XRP): XRP is the cryptocurrency associated with Ripple's network, focusing on facilitating cross-border payments and remittances for financial institutions.
USDC (USD Coin): USDC is a stablecoin backed by US dollars, providing a reliable means of transacting and storing value in the crypto world.
Cardano (ADA): Cardano is a blockchain platform known for its research-driven approach, scalability, and smart contract capabilities.
Dogecoin (DOGE): Initially a meme, Dogecoin is a digital currency used for tipping, donations, and online transactions, famous for its Shiba Inu dog logo.
TONCoin (TON): Proposed as the cryptocurrency for the now-defunct Telegram Open Network (TON) project, it aimed for fast and scalable transactions.
Solana (SOL): Solana is a high-performance blockchain platform known for its speed and scalability, attracting DeFi and DApp projects.
Tron (TRX): Tron focuses on content-sharing and entertainment DApps, aiming to decentralize the web's entertainment industry.
Dai (DAI): Dai is a decentralized stablecoin, maintained by smart contracts, offering price stability and utility within the DeFi ecosystem.
Polkadot (DOT): Polkadot is a multi-chain network facilitating interoperability between different blockchains and parachains.
Polygon (MATIC): Polygon enhances Ethereum's scalability and speed, making it more suitable for decentralized applications and transactions.
Litecoin (LTC): Often considered digital silver to Bitcoin's gold, Litecoin is known for its fast confirmation times and efficient transactions.
Wrapped Bitcoin (WBTC): WBTC is an Ethereum-based token backed by Bitcoin, allowing BTC holders to participate in DeFi on the Ethereum network.
Shiba Inu (SHIB): Inspired by the Dogecoin meme, SHIB is a meme cryptocurrency with an active community, known for its "ShibaSwap" decentralized exchange.
Bitcoin Cash (BCH): Bitcoin Cash is a Bitcoin fork aiming for faster and cheaper transactions, with a focus on peer-to-peer digital cash.
Chainlink (LINK): Chainlink is a decentralized oracle network connecting smart contracts to real-world data and events, enhancing their functionality.
Unus Sed Leo (LEO): LEO is the utility token of Bitfinex exchange, used for trading fee discounts and accessing various platform features.
Avalanche (AVAX): Avalanche is a blockchain platform known for its high-performance and scalability, aiming to enable decentralized applications (DApps) and custom blockchains.
Stellar (XLM): Stellar is a blockchain focused on cross-border payments and asset issuance, connecting financial institutions and making money transfer more efficient.
TrueUSD (TUSD): TrueUSD is a stablecoin that's fully backed by US dollars held in reserve, providing stability for crypto traders and investors.
Monero (XMR): Monero is a privacy-focused cryptocurrency known for its strong anonymity features, ensuring private and untraceable transactions.
OKB (OKB): OKB is the native utility token of the OKEx exchange, offering various benefits within the OKEx ecosystem, including trading fee discounts.
Cosmos (ATOM): Cosmos is a network of interoperable blockchains, aiming to connect different blockchains and facilitate seamless communication between them.
Binance USD (BUSD): Binance USD is a stablecoin, like USDC or Tether, designed for secure and reliable value storage and transfer within the Binance ecosystem.
Uniswap (UNI): Uniswap is a decentralized exchange (DEX) that enables users to swap various cryptocurrencies and provide liquidity for trading pools.
Ethereum Classic (ETC): Ethereum Classic is a continuation of the original Ethereum blockchain before a hard fork occurred. It supports smart contracts and decentralized applications.
Hedera (HBAR): Hedera Hashgraph is a distributed ledger technology known for its speed and security, aiming to provide a secure and efficient platform for various applications and enterprises.

I’m not convinced that Bitcoin is the answer.

I’m making this post not to stir up a pot, but because I truly don’t understand and want to learn. So they say Bitcoin is the answer when all fiat collapses. But inherently, the us government with the greatest military power usually has the final say. The us government will not allow anything else(Bitcoin in this case) to surpass the US dollar. I think Bitcoin is too small right now for them to care. But the government can easily shut down Bitcoin by attacking(physically with the army) the major mining hubs all the around the world if they wanted to. They literally invade any country they want and have been doing so throughout history. Sadam Hussein said I’m not selling oil in US dollars anymore, so the Us said ok we will fabricate an event(911) and then invade your country. So help me understand. Unless crypto miners have an army with nuclear threat, it’s hard for Bitcoin is exist if the us government decides against it. Thoughts?

Military attacks against miners are too much. They don’t even need to go that far. All they need to control is the electricity company. No electricity = no mining. If SCE decides to cut power, all miners in Southern California shuts down.

They only need to take out the larger mining hubs and then they’ll have sufficient computing power to pull a 51/49 attack.

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