This is a Q&A series that I’ll be posting every Wednesday about questions that I have around crypto currency. Usually in Q&A sessions the expert takes questions from the audience, but I’m flipping that around and crowdsourcing my cryptocurrency education!
As often happens as I’m driving on my daily commute to work, I’ll see a huge billboard advertising the current jackpot amounts for the two biggest lotteries in the United States: Mega Millions and Powerball. And just as often as I see the billboard, I find myself daydreaming for a few moments about what it would be like to have that much money. The usual fantasies involve me quitting my job, traveling the world, helping my family, buying a beautiful home (or several).
But lately, since crypto currency has been much more in the foreground of my thoughts since joining Steemit and now I'm actually holding some crypto, those usual fantasies now come with a new question: How will this change my involvement in crypto?
Here are current jackpots for Mega Millions and Powerball as of today, February 7, 2018:
So my crypto question to you this week is…what would you do in the crypto space if you won an enormous jackpot?
Just so we’re all on the same page, lets assume that you won the Mega Millions jackpot ($136 Million USD), and took the cash option instead of the annual payouts which would bring your earnings to $81 million. Then you’d pay roughly half in taxes, so now you have $40.5 million dollars.
No need to get caught up on particulars here, I know taxes can be higher or lower than 50%, but this is purely a hypothetical exercise.
Now, at the end of the day, you have $40.5 million USD that you can spend or invest however you choose. Do you buy crypto? If so, which would you buy and how much? Or do you leave crypto currency alone altogether because you have so much fiat money now?
I would love to hear your ideas on this, and I know everyone LOVES to talk about what they’d do with lottery money!!!
I'm doing a 30 Days of Steemit Challenge where I commit to post at least once everyday for the 30 consecutive days. If you'd like to get in on that, tag your posts ThirtyDaysofSteemit.
Here's my original post describing the challenge and why I'm doing it: https://steemit.com/thirtydaysofsteemit/@chickwithflicks/30-days-of-steemit-challenge
On another note, I am a movie reviewer, so feel free to check out my reviews for this week:
Well for one I would not need to even touch crypto. With that much I can get into real estate.
Better yet i would not have a half baked idoit stick tax man wanting to tax every fraction of a penny transaction I have. I have to spend $500 on printer ink just to get that information to him. At least with real estate I don't have a 70 mile long train of paper documents to send to the "1800s tax office"