How am I at peace even though I sold my Bitcoins in 2014
In 2014, I bought $4.000 worth of Bitcoins. About a month after, Bitcoin's value drop by 50% and I also had a financial crisis, so I sold all of my coins. Recently I was looking at the value of BTC and start feeling sorry for my self until I realized, I have investment somewhere else at that time, and am happy with the returns.
Two years before Bitcoin experiment I started my freelance business. Unfortunately, I was not so good at economics as I was at building websites. How taxes work here, is that at the end of the year you have to send a report to the taxman. Taxman calculates how much profit you made and sends you a bill for an amount you have to pay in 30 days. I guess this is how it works everywhere, but for me, it was a shock. Every year.
After one year, my freelance business was already doing revenue of a small business and just after I bought a car I got a bill from the taxman that I was not able to pay. So I sold my stuff (including coins), borrowed money and opened a new type of company suitable for a bigger business. So another dodged bullet, but this time it grazed me, and it hurt very bad. I crawled into a cave.
When I got out of the cave, I realized this was not sustainable, and something needs to change. At that moment I made a decision that changed my life and lives of many others. I sold part of my company to colleagues I was working with at that time. I could probably get help by just hiring people and keeping the whole cake for me. But as they say, you have to find a way to have the cake and eat it too.
Almost four years later, the company has 30 employees and pays the people and the taxman in time. Always. I don't know if I ever said thank you to one of my business partners for his effort in building this fantastic organization, but I am very grateful. In 2014 he also invested a similar amount of money in cryptocurrencies and withdrew it at a lost.
In my mind, we pulled out of investment we didn't understand and instead invested in a company that we believed in. Today I am at peace because I know I own a piece of something that not only has a value, but also mean something to people around me. If I kept those coins, I still wouldn't be sure.
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I think this is an excellent summary and it shows how lucid you are about your situation. Good luck in your future endeavours
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Welcome to Steem @iztok I have upvoted and sent you a tip
Hey, welcome to Steemit! Good luck with your future investments in cryptocurrencies :)
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Short of cash at tax time and certain the Winkelvoss twin's Bitcoin ETF wouldn't be approved and Bitcoin's pumped-up $800 value would fall, I sold 6 BTC this March to pay my taxes. Looking at today's price, I kinda wish I'd borrowed the money for taxes. Of course, I also have a flag in my garage that I bought for 2 BTC back in the day. Seemed like a good deal then...not so much now. Anyone wanna buy an anarchocapitalist flag for $16,000?
Sorry to hear that, but at leat we have a story to tell :)
Yeah. It’s about as popular a story as a bad beat in poker though.
welcome aboard! Enjoyed your talk as well.
Its really nice to see all this amazing people are joining steemit :)
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I don't know man. But I am regretting. I wanted money badly and I wasted bitcoin.