No matter how you look at it, $1.2m (£950k) is life changing money. It’s not like when you reach that one million figure that a big fanfare appears and the monopoly guy comes knocking at your door to gift you a new top hat. But it’s certainly enough to set you up for a comfortable life.
I speak from experience, I have made and lost a million a few times. One out of 3 of these occasions I sunk my money in to bricks and mortar, the other two I lost it, and it was largely down to greed. I don’t live a lavish life, after all Billionaires are the new Millionaires, these are the people for whom the world is a playground. Millionaires are far less glamorous these days, especially if you’re “just about” a millionaire, and that’s the category I fit in to. All that I have done is swap monthly mortgage repayments that strangle me, for monthly utility bills that annoy me. Sure I don’t have to work if I don’t want to, I could just collect rent and have interests, but I will never become one of the worlds elite like this.
Like many people, I have that hole in the soul that is a by-product of living in a world of greed fuelled expectations. We live our lives through peering in to windows and computer screens. We look in awe at the glossy adverts, the Lamborghinis and Ferraris in spy movies, the Instagram billionaires, all these things pique our attention and massage our senses to the point of conceding that this is the life that we truly deserve. But the reality is that it’s all marketing, our lives are a gift. No one needs a car that goes 200mph and 0-60 in 3 seconds… NO ONE.. it’s all bullshit.
Enter crypto. In 2017 cryptocurrency delivered for myself and many others untold riches , but there was a catch. You can have millions but you have to sacrifice the possibility of having billions. It was like Noel Edmunds orchestrated this monumental global digital version of deal or no deal. Litecoin Founder Charlie Lee chose to deal, well done Charlie. But many others didn’t, instead we chose to say “no deal Noel” in order to strive for the billions, or even the multi-million.
I wanted the multi-millionaire label. I wanted the 4 Berth Yacht, an Astondoa Open 40 in fact, with a 12m x 4m mooring at my local marina, as well as another in Majorca for my regular visits. I also wanted the white Porsche 911, or maybe the Range Rover Vogue, possibly the Lambo Urus, or I might go for the moon buggy looking Mercedes GLE Coupe . Not that I gave it much thought….. I wanted all this and more to match the million euro property portfolio, I wanted the f***ing fanfare, and the monopoly guy hat.
There was actually a point I could have had all of this in 2018, but instead greed took over, and I
told Noel to go f**k himself. I wanted all of the above, and a more. I wanted houses all around the globe and matching cars to boot. The euphoria of crypto had made me a mad man, and eventually I HODL´d back down to where I started. To be honest I’m quite ashamed, but who could I talk to about this? There would be no sympathy from anyone, therefore why say anything?
Then I came across a twitter thread from a guy called Peter McCormack. I had recently heard about Peter a week or so prior after seeing him pose with SEC commissioner Hester Peirce. He was wearing a Metallica t-shirt that quite aptly read “Master of Puppets” I thought to myself “this guys trolling is off the hook” and a few days later he blew thousands of people away with his blunt and brutal honesty.
1/ So here is a thread on how I turned $32,000 into $1.2m and back to pretty much zero (once taxes are paid).
Just note, I am not bitter or salty in any way at all, the last 2 years have been an amazing ride – travelled the world, been wealthy, been poor.
— Peter McCormack [Jan/3➞₿ 🔑∎] (@PeterMcCormack) December 13, 2018
McCormack took to Twitter, not to vent or cast aspersions as many do in this space. But instead to explain how he made and lost $1.2m in 12 months. His thread whilst brief was incredibly poignant. Peter explained how he took $32k after winding up his business, and sunk it in to crypto.
He speaks of how he got hugely caught up in the euphoria of it all, and found himself starting all sorts of business ventures relating to crypto, including a $300,000 purchase on a mining rig set up. Yep, Peter had got caught up in it all, and like many of us he didn’t see the giant crash around the corner.
What makes Peters story so great is how relatable it is. He has now chosen to focus on his podcast entitled “What Bitcoin Did” something that he admits only earns up a modest income, but that is what is so great about the story. He stated in his thread that he isn’t salty or bitter about it all, he was happy to have enjoyed the ride and it seems he has found a position he is comfortable with.
No lavish lifestyle, no fanfare and no monopoly guy knocking at his door with a top hat.
Peter will be on joining me for a live stream on December 18th at 8pm UK time over on my YouTube channel