"Sh*t or bust" is a vulgar English expression denoting a crunch point when a person has to (or chooses to) make a decision that will result either in success or in ruin.
What is the best Spanish translation?
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There's a couple of options you can use, but they do not include a swear word, they are quite harmless to use:
I can't think now of a similar sentence which includes a swear word, but I'm sure there must be some of them.
To mirror the effect of the original "sh*t or bust", I think it is important to use a similarly disjunctive construction, with "o ... o" (either ... or).
I imagine somebody in that situation saying something like:
(With this, either I rise to fame or I become an all-time loser.)
Another one, which has a stronger financial connotation, is:
The second alternative with "me hundo" is particularly colorful because it is connected with staying afloat (salvarse) or going down (hundirse).
In Argentina, we can also say this colloquially:
It arises from the comments that the expression could be close to: