Easiest way to Stay Long Term? (for 35 yr old)
-
- Expatriate
- Posts: 776
- Joined: Mon Oct 09, 2017 11:56 pm
- Reputation: 571
Re: Easiest way to Stay Long Term? (for 35 yr old)
The dude got it from crypto. Hardly a reliable indicator of future performance.Khmer_Risotto wrote: ↑Wed Sep 08, 2021 2:14 am Generally, people that are able to retire in their 30s are decent investors.
-
- Expatriate
- Posts: 141
- Joined: Wed Sep 13, 2017 2:17 pm
- Reputation: 74
Re: Easiest way to Stay Long Term? (for 35 yr old)
copenerdlinger wrote: ↑Wed Sep 08, 2021 2:47 amThe dude got it from crypto. Hardly a reliable indicator of future performance.Khmer_Risotto wrote: ↑Wed Sep 08, 2021 2:14 am Generally, people that are able to retire in their 30s are decent investors.
-
- Expatriate
- Posts: 776
- Joined: Mon Oct 09, 2017 11:56 pm
- Reputation: 571
Re: Easiest way to Stay Long Term? (for 35 yr old)
You seem to be assuming ill intent from myself and other posters here where there is none. Have we touched a nerve maybe?
-
- Expatriate
- Posts: 776
- Joined: Mon Oct 09, 2017 11:56 pm
- Reputation: 571
Re: Easiest way to Stay Long Term? (for 35 yr old)
The cruel irony of this thread is that literally within one hour of you making that post, BTC, ETH and co all lost over 15% of their value. So I guess it’s $340k you’re retiring on?CloudWarrior wrote: ↑Tue Sep 07, 2021 11:12 pm
True. I was just talking about before I got into crypto or learned about investing, being able to spot the 2017 top and 2018 bottom. My approach now is to estimate the likely maximum duration of a bear market based on a number of changing factors, should it start at any point in the cycle and have enough cash on hand to live through one, should it occur. So it's a lot less focused on exact timing, the cash is to ride out not perfectly predictable market cycles when they occur.
Re: Easiest way to Stay Long Term? (for 35 yr old)
Hey @CloudWarrior , one thing nobody else has mentioned yet, but is quite important. Trading Cryptocurrencies is not allowed in Cambodia. I cannot cite you the law, but whenever you buy your crypto, through Binance for example, and pay the counterparty with your "Fiat" US$'s, they make a very big deal about never mentioning on the memo any words like USDT or Crypto or Binance etc.CloudWarrior wrote: ↑Tue Sep 07, 2021 11:12 pmTrue. I was just talking about before I got into crypto or learned about investing, being able to spot the 2017 top and 2018 bottom. My approach now is to estimate the likely maximum duration of a bear market based on a number of changing factors, should it start at any point in the cycle and have enough cash on hand to live through one, should it occur. So it's a lot less focused on exact timing, the cash is to ride out not perfectly predictable market cycles when they occur.Kammekor wrote: ↑Tue Sep 07, 2021 10:58 pmI think you're wearing pink painted glasses now, and are overestimating yourself. Anyone able to constant predict tops and bottoms of markets is nothing less than GOD. Your experience with BTC over the last few years has no predictive value at all for the next decade. No matter what you believe.CloudWarrior wrote: ↑Tue Sep 07, 2021 10:48 pm I was able to accurately know when BTC was at the top and bottom of it's cycles.
Making (serious) money in Bitcoin over the last two years has been a very, VERY easy ride, even I managed to do so (a bit).
But you make a good point and I will definitely gain some other skills, and get something else going as backup/fail safe.
Apparently, the banks, and ABA in particular, will close your account if they find out you are dealing in cryptos. Others on here will know more about this.
Once you have your money in cryptos and you're trading away this is not be a problem, but sooner or later you will need to cash in some of your crypto profits and return it to "Fiat" world to pay rent, buy dinner or the other things in the real world.
At the moment this is not causing any real problems, but China hates Crypto because it can't control it, and Cambodia might well follow suit in support (as with online gambling) and make life much harder for people to bridge the gap between crypto world and getting $500 smackers out of the ATM in downtown Phnom Penh.
Just a macro thought for you to ponder on.
Re: Easiest way to Stay Long Term? (for 35 yr old)
If you want to stay long term you could apply for one of the jobs at the Chinese setup in Sihanoukville - …
Despite what angsta states, it’s clear from reading through his posts that angsta supports the free FreePalestine movement.
Re: Easiest way to Stay Long Term? (for 35 yr old)
I don't think that's an issue. Who would close his or her foreign bank account when coming to Cambodia? I for sure didn't. Trading to / from that account, or even from the platform of your choice, is no problem. A VPN can give you extra protection if wanted.Doc67 wrote: ↑Wed Sep 08, 2021 7:49 am
Hey @CloudWarrior , one thing nobody else has mentioned yet, but is quite important. Trading Cryptocurrencies is not allowed in Cambodia. I cannot cite you the law, but whenever you buy your crypto, through Binance for example, and pay the counterparty with your "Fiat" US$'s, they make a very big deal about never mentioning on the memo any words like USDT or Crypto or Binance etc.
Apparently, the banks, and ABA in particular, will close your account if they find out you are dealing in cryptos. Others on here will know more about this.
Re: Easiest way to Stay Long Term? (for 35 yr old)
You have to apply via the Cambodian Embassy in Canberra, and their criteria demands business/employment related supporting documentation. Contact them directly to confirm.SternAAlbifrons wrote: ↑Tue Sep 07, 2021 11:01 pm As a kiwi in Oz, how will i go getting an E-type?
No biz or employment in Cambodia. Will be wanting an ER asap after arrival.
Thnx.
- canucklhead
- Expatriate
- Posts: 1107
- Joined: Mon Oct 20, 2014 9:43 am
- Reputation: 439
Re: Easiest way to Stay Long Term? (for 35 yr old)
The op didnt ask for investment advice, he asked about visas. Psd kiwi is the best reliable visa advice on here. Ignore the rest of the noise.
Re: Easiest way to Stay Long Term? (for 35 yr old)
@PSD-Kiwi should charge for his advice in crypto!
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
-
- Similar Topics
- Replies
- Views
- Last post
-
- 3 Replies
- 1351 Views
-
Last post by rogerrabbit
-
- 26 Replies
- 5055 Views
-
Last post by PSD-Kiwi
-
- 4 Replies
- 1991 Views
-
Last post by sigmoid
-
- 33 Replies
- 8362 Views
-
Last post by armchairlawyer
-
- 3 Replies
- 1995 Views
-
Last post by Cowshed Cowboy
-
- 21 Replies
- 9848 Views
-
Last post by pissontheroof
-
- 8 Replies
- 1401 Views
-
Last post by Tootsfriend
Who is online
Users browsing this forum: The Goat and 596 guests