Topic: Honeymoon savings... hold or sell? - page 2. (Read 6184 times)

I would say sell.... and hope that bitcoin doesn't rocket in the next few months.
That should enable you to re-enter at a decent price point.

This!!

Assuming your American a honeymoon and wedding is a BIG thing!!

I do hope she knows you were putting this money into bitcoin?

The last thing you want in your relation is distrust, the idea you're gambling with money that has been set aside for a purpose.
You might resort to even stupid ways to cover it up like taking out a loan. This only makes things worse.

Problem then is that "when" this comes out she will distrust you and divorce is just around the corner.
What will she think that you will do with the kids college fund, money for vacation, etc. ?

Next thing is that you will not be allowed to manage the money you earn

Religion == Genesis FUD

Okay OP...listen up.

You made the decision to save for your honeymoon in bitcoin.

Why not do exactly that. Leave it alone until the time you originally intended to cash out or use btc for honeymoon purposes, no matter what the price is at that time. If your spouse went for that to begin with, spouse deserves what spouse gets and so do you.

Just to pour ice water on all the speculation, let's bring this down to reality a bit with a worst case scenario...from personal experience unrelated to bitcoin but 98% related to gambling debts.

See the fact you'd gamble with honeymoon money is sending a huge message to the spouse to be. If my fiance told me they were putting our honeymoon in the hands of a volatile digital currency, there wouldn't be a honeymoon.

My former husband got caught up gambling money we all needed to have a financially secure life and you know where it ended up?

It ended with him unable to pull out of it, taking a nose dive and committing suicide.

Had he done that with bitcoin, it would've likely ended in homicide instead.


Gambling for marital funds is probably not the best way to start a marriage. There's a bigger uglier message you're really sending and if you're the male in this equation and the spouse to be is female, well...enjoy the shit storm she will never let you forget. Even if bitcoin jumps up and you're with a surplus, eventually it'll come down and eventually it'll bust a hole in your relationship.

In the future, should you continue learning and doing bitcoin, don't put it aside for a specific time to cash out. That's defeating the whole purpose of bitcoin. It would've been much cooler had you not sold and instead worked out a honeymoon paid for and only using bitcoin. That would've also served a secondary purpose and let you know whether you're in that 50% going to see the lawyers!

#just sayin

Nope, it's bullshit. I know doing research and fact checking isn't big around here, but 50% of marriages do not end in divorce. Someone, decades ago, who was particularly bad at statistics and math (he'd fit in well on this forum) came to the conclusion after looking at a government statistic that there were something like 2.4 million marriages in 1980, and 1.2 million divorces.

Of course... the 1.2 million divorces could have been anyone married over the last 50 years or more, not just the people married that year... derp.

Well, if your ass is covered then godspeed and so on. Still, having been through it once why would you risk it again?

Your previous divorce was due to the last bitcoin crash?

You are screwed But if some good news come like paypal add BTC or something like APPLE add BTC the bitcoin will be back to $1000'th

Exactly. You also don't know how we define our marriage.

I've already been married and divorced once. I know the risks and have taken necessary precautions.

It's statistics, buddy. I'd be open to look at statistics based on your theory (if any such exist, which I deeply hope is the case, and moreso that you have links to them), but even then we don't know how op and wife look at those things.

well, marriage and religion has a lot to do with each other.  Most people that get divorced don't have strong religious beliefs.  So this is over generalizing.

Look at the positive side: your marriage is probably over.

You got married. Did you read my earlier post? You have a 50% chance to lose everything you own and most of what you earn for many years going forward. That's a way higher risk than bitcoin. Nobody ever think they will be the ones getting hit with divorce papers. That happens to other people.

This. But do be careful to manage expectations and be wary of panic anything... panic selling or buying... look for price targets, write out a plan, and be cautious. Also, although you are investing as opposed to trading, having a stop loss about 10% off moving forward (not even a narrow one... just something to capture a portion of a cataclysm) might not be the worst idea.

Absolutely no reason whatsoever why bitcoin will not rise again. In fact every single odious little toad telling you what a bad decision you made is banking on it.

I hope you have a fab honeymoon!

I am almost certain that it is confirmation bias, brother. That doesn't mean that Bitcoin is valueless or that it isn't worth more than it was worth before these events. The thing is that the price that you see in a market isn't the current price, but very often the speculative price (what will this be worth in X months). That's why bad news registers hard whereas good news is almost invariably baked in.

So, now transport yourself back to a time a year or two ago... is it possible today for Bitcoin to be all of the things that people hoped, and even expected, it would be when they were looking off into the future a couple years ago? The answer is no. Public adoption (not industry adoption, but actual consumers) has slacked off, there are too many persistent trust issues (scams, Gox, hackers, etc... remember most people are amazingly computer illiterate), there will almost certainly be competition from Apple (even if that product that absorbs a lot of the customer base is, to a technologically literate person radically different than Bitcoin), and the New York rules are tantamount to a death sentence for many U.S. targeting BTC companies (and, even if it is not, it forces them to not hold profits in Bitcoin which just reinforces sell pressure).

Additionally, what will change that will stop Paypal and others from massively increasing sell pressure? Are they suddenly going to keep their profits in BTC? Are they going to do that in a down market? At minimum, this confirms that there has to be further legs down.

So, I guess what I am trying to say is that Bitcoin (or something similar) will probably survive and at some point in the future thrive. At the present moment, though, there's no need to be a martyr. You know that even if it stops dropping today that in the next few months the downside risk outweighs the upside (and that calculus may very well change if we confirm a bottom).

So just be careful.

I agree with you. I still don't agree that it's a bubble. Maybe it's confirmation bias, but I think there are other factors that explain this. First, paypal will cause a massive increase in sell pressure... which is likely being factored in at the moment. Then you have the alibaba ipo, and significant chinese investment. If they're looking to get out for the time being, alibaba gives them all the more reason to do so. I think the market is factoring in the paypal adoption, and we'll actually gains when paypal actually implements. It is almost certainly confirmation bias... but that doesn't mean it's necessarily wrong. IMO it's still worth the upshot, and I'll still be buying every chance I get.

Dude, fuck all these people giving you hell. Is this probably the largest speculative bubble ever? Probably. Emphasis on probably and not certainly. A lot of people are in the same shoes just as they are on any number of speculative investments. People don't always lose and people who lose a bet aren't suddenly embarking "on a series of bad decision making." It's just a thing, just money, you win some and you lose some. Haters are just gonna hate.

Isn't hindsight great? All you bear trolls said $100-$120 was an "obvious bubble" as well. You guys have diarrhea of the keyboard.

How do you figure I'm "on a series of bad decision making"?

In the end, it's just money. Most of us never have much of that, anyways. This really is an incredible game for losing money, isn't it? Even the folks shorting (I count myself in those ranks) have found a way to lose money throughout on jumps up and down.

Enjoy the honeymoon. That's what really matters. Love, who you have around you, and the time you get to spend. Money comes and goes... that's what it does. She's lucky to have you.

Cheers!