Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Ask HN: How do I get $2.2M dollars?

news.ycombinator.com

Post reply on HN
Print view View original

101–110 of 110 posts

Re: Ask HN: How do I get $2.2M dollars?

#101

Post by SirLJ »

lee101 wrote: post #99
SirLJ wrote: post #12

The way for me is the stock market - building trading robots, this is the way to get your FU money and believe me it is well worth it and it is the ultimate freedom in life... I would recommend starting with Interactive Brokers or similar API (it is free), small linux VPS, some data for back testing and off you go, for around $100 you can start + a lot of time of course... Start by testing any trading strategy you ca…

Checkout our Live Updating Forecasts at https://bitbank.nz They are driven by a trading bot based on machine learning, doing a pretty good job predicting when things are overbought / sold. We have a free 1 day trial then plans starting at .03 BTC for 3 months. Also checkout our affiliate program where you can earn .003btc per paying user referred :) We also provide a live API and bulk data to the technical HackerNews…

Thanks, but I’ll pass... My system is actually working, so I don’t have to sell “predictions” with affiliate programs to make money in the markets...

Re: Ask HN: How do I get $2.2M dollars?

#102

Post by fpisfun »

gallerdude wrote: post #79
fpisfun wrote: post #35

Haha nice, I always like when people think this way because I've realized I only need so much money also and killing myself working to get more than that is pointless because I already know very well that money doesn't bring happiness by itself but having too little also leads to unhappiness. I have no idea what the answer is to your question but I'm going to be reading the comments.

Yeah, it’s quite freeing in a way, knowing that I don’t want a billion dollars. Everyone wants to be rich, but by knowing how rich , you can plan a lot better.

I think it can be a good way to size up a person too, I once was in talks with an entrepreneur who was working on a business and wanted to eventually hire me as a technical lead. He would keep mentioning how he wanted to make the company into a billion dollar company (at the time I think it had like $30k in revenue), of course it didn't work out. Setting realistic goals is very important.

Re: Ask HN: How do I get $2.2M dollars?

#103

Post by AstralStorm »

maerF0x0 wrote: post #27

The simplest advice* people can give you without predicting the future can be found here : https://www.npr.org/sections/alltechconsidered/2016/01/08/46... Basically: Get awesome grades, get a top offer, jump ship when you can earn 15% more elsewhere (and its not a down step job), Save at least 20% of your gross salary into some kind of index ETF/fund, live way below your means, wait 10+ yrs. * Assuming you're in the…

You also need to graduate from a recognized top university or have to get really lucky.

Whoops, now you have some hundreds thousand of student loan.

Unless you studied abroad in a country with free education.

Re: Ask HN: How do I get $2.2M dollars?

#104

Post by AstralStorm »

_m8fo wrote: post #48
fnord77 wrote: post #36

the problem with living on a fixed income is some big unexpected inflationary event. This happened to my parents in the 70s. They retired in the early 70s and then BOOM inflation went nuts and what was a comfortable retirement turned into subsistence. doesn't seem likely anytime soon, but it is still a risk.

I don't see why this would be an issue, as you still have the principal, and such events can be amortized into the adjusted "income" you pay yourself out with.

Because say you remain with say 40k/y (instead of 80k/y) of value in the principal in addition to reduced compounding.

Re: Ask HN: How do I get $2.2M dollars?

#105

Post by AstralStorm »

fwdpropaganda wrote: post #64
nbarbettini wrote: post #13

Earlier quoted context omitted.

... a year ago.

Or now.

To get these returns, BTC would have to appreciate 100x in value and you would still need those 200k$. While it has done this before, past returns are no guarantee of future returns. If you want to finance the 200k$ with debts... well... the percentage can kill you, or require you to or in a sizable chunk of income to pay it off. (Mortgages in some cheaper places in US are this size. )

Re: Ask HN: How do I get $2.2M dollars?

#106

Post by gallerdude »

dakrootie wrote: post #95
gallerdude wrote: post #81

Earlier quoted context omitted.

Um, I just like doing my own thing more than doing what other people want from me. Maybe running my own business is the best foot forward. This is a good question, and I’m going to keep thinking about it.

How would you describe your "own thing"? What does a day look like when you're living off the 80k interest? Be as specific as possible. I have a lot of experience in this area. (Obsessed about retirement from about age 22, and set a goal for 30. Did it.) This is a very important question to ponder at the beginning. :) I should probably add why I'm asking this question. I thought all those years I was working my ass o…

I'm saving this under my important quotes folder, because it's something I'm going to need to think about a lot. Thanks for the insight!

Re: Ask HN: How do I get $2.2M dollars?

#107

Post by dakrootie »

gallerdude wrote: post #106
dakrootie wrote: post #95

Earlier quoted context omitted.

How would you describe your "own thing"? What does a day look like when you're living off the 80k interest? Be as specific as possible. I have a lot of experience in this area. (Obsessed about retirement from about age 22, and set a goal for 30. Did it.) This is a very important question to ponder at the beginning. :) I should probably add why I'm asking this question. I thought all those years I was working my ass o…

I'm saving this under my important quotes folder, because it's something I'm going to need to think about a lot. Thanks for the insight!

My pleasure. I'm here if you need to bounce some ideas around.

Re: Ask HN: How do I get $2.2M dollars?

#108

Post by tiplus »

If I got hit by a bus tomorrow - dying in the streets - I would not want to think about how I put 2.2 M$ in my savings account.

To get you started... you could try to think about the cliche "how to be the person selling shovels in the gold rush".

Write an online course on how you parametrized RNNs to predict Bitcoin markets. I got it to work well on predicting a certain low frequency event well with not too much effort. This resulted in 2~3 trade opportunities per day, making only very few $ each trade. So no luck in the gold rush but maybe not a bad shovel to sell?

Switch professions, maybe? 2.2M$ are not uncommon if you can wait a few years... Become a medical doctor and freelance across the country? Enter the middle management in any 200+ B$ company? Marry into a rich family? Low tier drug dealer in Europe (short prison times)? All of the above require working long/stressful hours over years. This brings me back to my first point: forget about the 2.2M and do s.th. you enjoy doing.

Re: Ask HN: How do I get $2.2M dollars?

#109

Post by lee101 »

SirLJ wrote: post #101
lee101 wrote: post #99

Earlier quoted context omitted.

Checkout our Live Updating Forecasts at https://bitbank.nz They are driven by a trading bot based on machine learning, doing a pretty good job predicting when things are overbought / sold. We have a free 1 day trial then plans starting at .03 BTC for 3 months. Also checkout our affiliate program where you can earn .003btc per paying user referred :) We also provide a live API and bulk data to the technical HackerNews…

Thanks, but I’ll pass... My system is actually working, so I don’t have to sell “predictions” with affiliate programs to make money in the markets...

BitBank actually works very well, I'm open and transparent about the prediction accuracy https://BitBank.nz/accuracy we now plot our recommended buy and sell points over time in the graphs and you can click on a point in the past to see what our forecasts where.

People are often tricked into thinking that trading is a zero sum adversarial game whereas in reality we can all benefit with the surge in crypto, I don't have the capital to trade much myself so I sell the trading system and reinvest in both trading and the trading system.

Unfortunately affiliate programs do come across as spammy less than 1% of traffic currently comes through the referral program so no one's using it really

Re: Ask HN: How do I get $2.2M dollars?

#110

Post by readhn »

SirLJ wrote: post #87
readhn wrote: post #56

Earlier quoted context omitted.

Are you really smarter than a bunch of Quants with PhD's in math/CS and unlimited resources (hedge funds etc)? Get rich quick does not work in the stock market. Get rich quick = lose money quick in 99.999% of cases.

Works for me, so looks like I am smart enough ;-)

Come back and talk to me in a couple years. Markets have this ability to cure people of blind confidence.. lol
Post reply on HN