I'm All In - Sold My House! - page 28.

flipstyle

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Merit: 250

Quote from: rampantparanoia on January 16, 2015, 12:15:55 AM

Quote from: flipstyle on January 16, 2015, 12:14:28 AM

Quote from: rampantparanoia on January 16, 2015, 12:11:37 AM

can we stop trolling a guy who clearly made an amazing financial decision for the long term and will reap rewards within a matter of months assuming he still owns the coins?

kthx

You're exactly the same person who wouldn't dare open up his pockets to him in the more likely event the price never recovers and he does lose his ass and needs financial help.

Shill harder.

You're absolutely right. That's what state-sponsored welfare is for. I can tell you this - if I was in his position, I would've done the same (maybe a few months later though... more coins)

Oh, that's interesting. A libertarian that's pro-social assistance. And here I thought the two were mutually exclusive.

After all, what better way to squander your financial eff'-ups than to just fall back on the same establishment you seek to take down.

rampantparanoia

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Activity: 516

Merit: 283

Quote from: flipstyle on January 16, 2015, 12:14:28 AM

Quote from: rampantparanoia on January 16, 2015, 12:11:37 AM

can we stop trolling a guy who clearly made an amazing financial decision for the long term and will reap rewards within a matter of months assuming he still owns the coins?

kthx

You're exactly the same person who wouldn't dare open up his pockets to him in the more likely event the price never recovers and he does lose his ass and needs financial help.

Shill harder.

You're absolutely right. That's what state-sponsored welfare is for. I can tell you this - if I was in his position, I would've done the same (maybe a few months later though... more coins)

flipstyle

sr. member

Activity: 406

Merit: 250

Quote from: rampantparanoia on January 16, 2015, 12:11:37 AM

can we stop trolling a guy who clearly made an amazing financial decision for the long term and will reap rewards within a matter of months assuming he still owns the coins?

kthx

You're exactly the same person who wouldn't dare open up his pockets to him in the more likely event the price never recovers and he does lose his ass and needs financial help.

Shill harder.

rampantparanoia

sr. member

Activity: 516

Merit: 283

can we stop trolling a guy who clearly made an amazing financial decision for the long term and will reap rewards within a matter of months assuming he still owns the coins?

kthx

flipstyle

sr. member

Activity: 406

Merit: 250

Quote from: semaforo on January 16, 2015, 12:01:28 AM

Please, a little gratitude for the publicity he gave to the bitcoin community. It is his inheritance to do what he wishes with, and if he doesn't need the house, it is a better service to society than letting the banksters play with it at everyone's expense or buying gold and burying it.

The real estate market in North America is more inflated than bitcoin has ever been, and don't believe the measures taken by the central banks will stop the crash- they'really just delaying it. The problem here is extreme short sightedness, and this sale by OP was probably more beneficial to society than anything the many critics are doing.

Lol shills will justify dumbass investing habits 5,000 ways til sunday.

'Who cares if he's lost %65 percent of his investment thus far and completely went against what his father would have wanted (you know, actually making rational decisions)...it's going to the mooooooon, guaranteed!'

'he's better losing his ass donating into a relatively new, volatile speculative technology than to have actual spendable fiat insured in a bank! After all, why feed dem corrupt government politicians dropping money on wars and putting GMO's in our fruit roll ups...when you could give that same money to scammy owners of exchanges and european hackers illegally filtering in m80's and child porn into Ukraine!'

flipstyle

sr. member

Activity: 406

Merit: 250

Quote from: FFrankie on January 15, 2015, 10:50:21 PM

I would have done the same exact thing if I was in your shoes, I think it is awesome, and since you got the house for free, why not gamble.

I would like to sell you something that has high potential, since you seem like my type of guy.

PM me for details.

semaforo

hero member

Activity: 728

Merit: 500

Please, a little gratitude for the publicity he gave to the bitcoin community. It is his inheritance to do what he wishes with, and if he doesn't need the house, it is a better service to society than letting the banksters play with it at everyone's expense or buying gold and burying it.

The real estate market in North America is more inflated than bitcoin has ever been, and don't believe the measures taken by the central banks will stop the crash- they'really just delaying it. The problem here is extreme short sightedness, and this sale by OP was probably more beneficial to society than anything the many critics are doing.

Cluster2k

legendary

Activity: 1692

Merit: 1018

Quote from: flipstyle on January 15, 2015, 09:28:25 PM

Quote

This house was inherited from my father who passed away a few years ago

Dear god. So your father works his ass off his whole life only to provide a better living for you, and you squander it all away at a 2/3rds loss in a matter of minutes?

Wow. Can't even make this stuff up.

This x 100. A lifetime's work traded for something that could be as valuable as Beenz if the market turns sour. We have the stories of the 10,000 btc pizza when bitcoin price massively rises, so now horror stories on the downside. If the OP's gamble had paid off and bitcoin kept MtGoxxing its price to $10k or more the OP would be crowing about what a genius he was. Likewise, the downside needs to be mentioned as well.

FFrankie

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100% Deposit Match UP TO €5000!

I would have done the same exact thing if I was in your shoes, I think it is awesome, and since you got the house for free, why not gamble.

flipstyle

sr. member

Activity: 406

Merit: 250

Quote

This house was inherited from my father who passed away a few years ago

Dear god. So your father works his ass off his whole life only to provide a better living for you, and you squander it all away at a 2/3rds loss in a matter of minutes?

Wow. Can't even make this stuff up.

There's 'smart, diversification investing' then there's this.

Reminds me exactly of this:

http://np.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/

And this is why people need to be very careful when they word their wills and set aside allotment allocation of funds per year (barring any medical emergency) so that the inheritants dont make absolute asinine decisions like the OP.

Wow.

Brewins

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Quote from: Dread Pirate Roberts on January 15, 2015, 04:26:51 PM

what price this op buy a bitcoin ?

Prices near march were around $610/btc.

semaforo

hero member

Activity: 728

Merit: 500

I repeat, this was not stupid for many reasons.

Fiat is not only risky, it has cap fundamentals and is almost certain to fail eventually.

Publicity is key to Bitcoin's success. It takes different people different amounts of time to understand it but the fundamentals are sound. Society has to catch up to bitcoin, not the other way around. Selling his house for BTC made headlines and really got people thinking. The shortsighted may be mocking him now, just as people might ridicule someone who paid 10,000 BTC for two pizzas, but there has to be pioneers who take risks to get the bitcoin economy established.

Indeed, if there is another rally or even a gradual rise to new ath, which still seems like a question of 'when' rather than 'if' to me, this thread will be resurrected with very different comments.

In that event, everyone who profits from bitcoin would do well to remember the risks taken and sacrifices made by the bitcoin pioneers which made the growth of the economy possible.

Dread Pirate Roberts

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Merit: 326

what price this op buy a bitcoin ?

thejaytiesto

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Quote from: inca on January 15, 2015, 11:13:30 AM

Quote from: Mirsad on January 15, 2015, 11:11:17 AM

Quote from: picolo on January 15, 2015, 11:09:21 AM

He has 141 000 $ worth of bitcoins if he didn't sell any. He probably doesn't have much debts and he probably has other assets. Most users of this forum don't have as much net equity as he does.

He still fucked up. But thanks to him I could increase my wealth.
I need stupid buyers and sellers to profit from. Take it from the dumb and never give it away lightly.

Based upon your fictional series of buy and sell trades you are a pauper yourself. More a Walter Mitty character i'd say.

Gazelles thinking they are Sharks getting eaten by actual Sharks that eventually get eaten by Whales.

inca

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Quote from: Mirsad on January 15, 2015, 11:11:17 AM

Quote from: picolo on January 15, 2015, 11:09:21 AM

He has 141 000 $ worth of bitcoins if he didn't sell any. He probably doesn't have much debts and he probably has other assets. Most users of this forum don't have as much net equity as he does.

He still fucked up. But thanks to him I could increase my wealth.
I need stupid buyers and sellers to profit from. Take it from the dumb and never give it away lightly.

Based upon your fictional series of buy and sell trades you are a pauper yourself. More a Walter Mitty character i'd say.

Mirsad

full member

Activity: 140

Merit: 100

Bitcoin - love & hate

Quote from: picolo on January 15, 2015, 11:09:21 AM

He has 141 000 $ worth of bitcoins if he didn't sell any. He probably doesn't have much debts and he probably has other assets. Most users of this forum don't have as much net equity as he does.

He still fucked up. But thanks to him I could increase my wealth.
I need stupid buyers and sellers to profit from. Take it from the dumb and never give it away lightly.

picolo

hero member

Activity: 1022

Merit: 500

He has 141 000 $ worth of bitcoins if he didn't sell any. He probably doesn't have much debts and he probably has other assets. Most users of this forum don't have as much net equity as he does.

RD965

hero member

Activity: 532

Merit: 500