Topic: I'm All In - Sold My House! - page 11. (Read 112616 times)

Its very risky, but if you think about the halving that is coming and the fact that the bitcoin is getting bigger everyday, its very possible he will be a rich mean because he sold his house.
I think its pretty cool he did it and also a good choice because you can invest in something else but the bitcoin is the currency of the future.

Wow, that is so risky, you can loose all of your money you know? But if it will rise by 400$, you will win so much of money

sometimes you have to take big risks to take big rewards. especially in a high risk market like bitcoin's market where the price changes with panic sellers who have heard a bad news on an FUD news website.

but this does not meant that if the risk is big you have to go all in because this can happen if you don't think it through:

but this is really a big risk. I was afraid that if he can not get his house back, because something bad. like his bitcoin is stolen, got scammer, or gambling addiction.

This thread was started on March 8th, 2014. Bitcoin was trading around $620.

According to this news article: http://www.bbc.co.uk/news/technology-21863593

The OP' father's house was worth around $400K. The OP stated that he got 648 BTC for his house, despite first expressing his interest in selling his house for Bitcoin in March 2013, when Bitcoin was just $30! That means that the OPs entry cost per Bitcoin is around $609.

Sorry, but what a fucking fool.

If he wasn't going to live in that house, then clearly the first stop for the capital generated from the house was fiat currency. Scared that the Candian Dollar was gonna tank? Get your money into USD? Get your money inot stocks, get your money into government bonds, and if you must, get your money into Bitcoin at prices way below what he paid and also at prices way below what they are even now.

It was a naive, irresponsible, impulsive, head strong stupid act, and the OP has had the wealth generating potential of all that capital tied up in an ultra high risk asset which has only very recently stopped tanking. As it happens, it looks likely that the OP may just get the chance to get out of Bitcoin at break even level. Indeed, he may even be able to exit Bitcoin with a slight profit for his years of worry and stress.....

....but if he gets greedy, and allows the delusion to persist (and I suspect he will), then he is going to lose his shirt.....

.....which is good, cos Bitcoin is a zero sum game and in order for Bitcoin to generate an income stream for the minority, the majority by definition, must lose wealth by investing in Bitcoin.


(so it seems like you brg444, are the one taling out his arse)

Yes I think its crazy, but also very good for the bitcoin plus its also pretty nice because the bitcoin is getting to a higher level because of these people.
I'm serious I would never do it but you really have a lot over for the bitcoin, I hope you will get a lot of profit by it.

maybe a lot of people collect bitcoin for their dream of owning a house, but this was reversed. you sell the house for bitcoin

i am one of the true believers in bitcoin. so i have invested a lot of my money and time in bitcoin but this is just too extreme. you should never go all in, especially something that is high risk

although going all in is the most profitable but also the possible loss is going to be as great too.

Really, how many more "I told you so" posts? The man made a decision. If he was smart enough to sell the house back then , im sure he will have put those btc to work.

If he just spend a couple hundreds on the likes of PBMining or GAW, he probably is up by around + $30,000 USD or more in the last months. Even at this price.
I wonder how many $5.50 per hour dudes are bashing this poor guy here. Its the internet, i guess.

He isnt under water, there is no requirement to hold his breath and it seems the OP has no pressure to act on a price change in bitcoin.   If this is true it does mean its very possible he just simply holds and nothing else.
I get the impression he is wealthy or  in a good job that he decided to do this on the basis that only millions would make a real difference to his circumstances.  Just selling because a price moves ignores every other factor, its the viewpoint of a pure speculator which Im guessing is not the case here

Actually this really took some guts. Very bold step. I really wish this would work out for you. You've given everything for this.

That is very, very, very risky thing! Bitcoins aren't stable you might loose a lot of your money, but if you dicided to do that, then good luck for you

We will find out that he has made a lot of profit in a year's time. The bitcoin price will rise to $2000 next year.

OP was so brave because sold him house just only for buying bitcoin but my questions is did he get very much profit from that? because i'm very curious to know

Oh how you like talking out your ass Mat.

https://bitcointalksearch.org/topic/m.13263187

OP is probably breaking even right now

If i know this bitcoins before year 2012 i will buy 1000 bitcoins and hold it until now. maybe i had lots of money and i can buy house and lot.
And i can start a new business online.. But is just a dream and im still dreaming until now.. I hope bitcoin will rise above 10k value to have lots of money..

Not anymore. He sold the wife with the house for an extra 10 grand. Hope it was worth it 

Some you win, some you lose. Perhaps he's still got the btc and waiting for the massive rise that everyone dreams about.

Are you off ya head?

Bitcoin was over $600 when the OP sold his house for Bitcoin!!!

That is two years, of being seriously underwater, so much so that I have no doubt at all that the OP has already sold most of his Bitcoins for way way less than Bitcoin is currently prices. Always happens.

By putting his faith in Bitcoin, the OP has blown a small fortune.

I checked the price of the bitcoin at the time when OP posted this thread and the difference (or the profit at the moment) is 86k+ if OP still has the bitcoins.