Bitcoin: So at the end of the day, is it worth it?

[RetireJapan]

im not in japan

But this forum is for people in Japan (or planning to move here, etc.).

[Yutaka2024]

yup planning by the end of the year

[sutebayashi]

All this excitement about crypto encouraged me to clean up my stuff, and I sold my crypto this week.

Now I want to get the money out of my bitFlyer account and they are going to charge me money for the pleasure

Amusingly the fee goes UP for larger withdrawal amounts!

I am mildly curious if there is some hack to get around this; perhaps there is a better option than bitFlyer to use for withdrawals?
(I withdraw money from various financial service providers but this cost is typically one that they cover, not charge customers for.)

[adamu]

Now I want to get the money out of my bitFlyer account and they are going to charge me money for the pleasure

Amusingly the fee goes UP for larger withdrawal amounts!

It looks like the maximum fee is ¥770 including tax.
https://bitflyer.com/en-jp/s/commission

I doubt any shenanigans to avoid that would be worth it.

[sutebayashi]

I’m taking a shot at the withdrawal.
Really bad user interface! I have put in the amount to withdraw, and manually subtract the withdrawal cost from my total balance.
Looking forward to seeing if I can receive the money without bank account name mismatch issues

[adamu]

Dont forget to calculate your gains (and "necessary expenses") and put it as miscellaneous income on your tax return next year.

[sutebayashi]

I wish I could charge my time as an expense.

I will indeed endeavor not to forget to calculate and report my profits a year from now; pretty meager though they are.

[Yutaka2024]

bitcoin gonna hit ath before the havening

[Gulliver]

The irrational exuberance manifested whenever this topic comes up is enough to keep me away. We see it over and over with other Ponzi schemes and the cult-like rationalizations postulated by their victims- right before their lives are destroyed.

[sutebayashi]

Yeah. I might be convinced to again one day put up to 1% of my portfolio in it, but it’d be a “position”, unless it starts to exhibit some more utility in society.

I would be applying the “don't marry a position, just date it” advice.