Op will profit very much at the end if the hodl well. 
So you pretend holding is 100% chance of win ? Sounds too good to be true.
also don't use "will profit" when its not sure. should use "will maybe profit"
Topic: I'm All In - Sold My House! - page 50. (Read 112579 times)
So you pretend holding is 100% chance of win ? Sounds too good to be true.
also don't use "will profit" when its not sure. should use "will maybe profit"
I am considering taking a huge loan which would put me in debt for years and i'm curious how it feels to take such a risk....
You might be better off trying to earn some BTC. Borrowing money for "investments" is usually a bad idea no matter what you are expecting to profit from.
Except when the investment returns nicely!
I think it is good to diversify a little bit if you are investing a lot, how would you take a loan to buy BTC? Your house would be the collateral? Or would it be consumer debt?
Op will profit very much at the end if the hodl well.
Takes balls to sell home for Bitcoin. But it was done as the real estate market is/was peaking.
It was done at a very high BTC price and it was complicated to technically do the transaction but it was a great advertisement for Bitcoin and the amount of BTC earned is enough to be rich
Takes balls to sell home for Bitcoin. But it was done as the real estate market is/was peaking.
Yea, I might refrain from it but it's very tempting to do if there would be another bubble coming.
Would be hell of a story to tell too
Maybe I'll take a smaller loan that I can handle though
Would be hell of a story to tell too
Maybe I'll take a smaller loan that I can handle though
Don't do it. Much too risky! You could also try to catch the bubble and go leveraged long 10:1. You'd make a crapton of BTC if it works out, but you may end up loosing absolutely everything if a medium flash crash occurs. Don't do it. Also never borrow money for such things! (Leveraged long is basically borrowing money)
Yea, I might refrain from it but it's very tempting to do if there would be another bubble coming.
Would be hell of a story to tell too
Maybe I'll take a smaller loan that I can handle though
Would be hell of a story to tell too
Maybe I'll take a smaller loan that I can handle though
I am considering taking a huge loan which would put me in debt for years and i'm curious how it feels to take such a risk....
You might be better off trying to earn some BTC. Borrowing money for "investments" is usually a bad idea no matter what you are expecting to profit from.
Its bigger, all this man did was sell his savings in exchange. People do that all the time and waste it on consumer goods that are certain to depreciate. His risk is his belief he may gain but his loss is already lower then someone who never invested in a house (profitably) or gained any secondary benefit from pocessing savings.
Your idea to go into debt is much harder, your lose from both ends potentially and could be bankrupt. At the very least you should secure the interest with a long fix if possible, I was suggesting the OP at some point buy a small flat with a fixed rate also to hedge his bets.
Bitcoin ownership itself is also a kind of bet on interest rate movements so to borrow for such an 'investment' activity is not just black or red but going in on lucky 7 too
Your idea to go into debt is much harder, your lose from both ends potentially and could be bankrupt. At the very least you should secure the interest with a long fix if possible, I was suggesting the OP at some point buy a small flat with a fixed rate also to hedge his bets.
Bitcoin ownership itself is also a kind of bet on interest rate movements so to borrow for such an 'investment' activity is not just black or red but going in on lucky 7 too
I am considering taking a huge loan which would put me in debt for years and i'm curious how it feels to take such a risk.
Do you walk around being nervous and paranoid the whole time or are you so confident that you're gonna make alot of money sooner or later that you just don't care?
I'm kinda worrying about getting in problems with the moneytransfer to bitstamp too; not the kinda situation I wanna be in with loaned money. Before I found bitcoin I had never done international transfers, not even small ones.
And what would you do, how would you react if it all went to shit?
It's maybe not as big as selling my house and everything I got but still (living with parents so)
Do you walk around being nervous and paranoid the whole time or are you so confident that you're gonna make alot of money sooner or later that you just don't care?
I'm kinda worrying about getting in problems with the moneytransfer to bitstamp too; not the kinda situation I wanna be in with loaned money. Before I found bitcoin I had never done international transfers, not even small ones.
And what would you do, how would you react if it all went to shit?
It's maybe not as big as selling my house and everything I got but still (living with parents so
)
Have your gambling pay off?
OP, did you - by any chance - sell your family this time around and purchased all those 30,000 BTC from FBI?
Guy from the FBI: "Boss, some guy is offering a family. Do we need a bunch of human subjects?"
OP, did you - by any chance - sell your family this time around and purchased all those 30,000 BTC from FBI?
Unfortunately efficiency was not enabled by bitcoin in this case? So yea what Danny said but maybe he got lucky there on timing. There was an Australian man who sold his house and also job via auction offers and that might have been helped by bitcoin or some process similar
The real dynamic is more complex then that but to just leave it and thats the best thing ? seems like wishful thinking. That would relate to a well managed company and the share of that (dont mess with a good thing) but you first must decipher which stock or company is to do best and so bitcoin is that choice. How do we all know that, just seems too easy to say this is certainly true. I think sell high buy low is more applicable (keep some btc if you like but he has to live somewhere).
If he just ignores the price for two years he will be soooooo rich.
When you are young, let it ride man, let it ride.
Depends on how you look at bitcoin. Most of society would see it as a roulette wheel. Keep betting red and you can be a millionaire but also the maths will tell you the odds become increasingly against you like flipping a coin heads every time.When you are young, let it ride man, let it ride.
The real dynamic is more complex then that but to just leave it and thats the best thing ? seems like wishful thinking. That would relate to a well managed company and the share of that (dont mess with a good thing) but you first must decipher which stock or company is to do best and so bitcoin is that choice. How do we all know that, just seems too easy to say this is certainly true. I think sell high buy low is more applicable (keep some btc if you like but he has to live somewhere).
that sure was a long time to sell you house. I am glad that you were able to get your house sold and were able to get bitcoin for it. I would say that it would probably have been better for you if you simply took cash and then converted that cash into bitcoin. You could have listed you house in terms of fiat and then made a note on the listing that you would also accept bitcoin as you would likely not saved on any of the closing costs by accepting bitcoin, I would think that it could have potentially made the closing costs higher due to the complexity of the transaction.
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I am back 
Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.
Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life. Just noticed an update post and was like I got to congratulate you
Its good to hear that you have made some money on your investment and keep enjoying life mate
If he just ignores the price for two years he will be soooooo rich.
When you are young, let it ride man, let it ride.
If he holds on to even ~half, then this sale will turn out to have been a brilliant (risky) move.
Indeed selling half and then breaking even would still make you rich at the end of the day if you were in the mood to take less risk
That said this person has balls of steel and is just enjoying his life so they seem to be doing fine anyways ^^.
cool story but if that were true the world would have turned upside down.
...not really.
I am back Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.
Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life. Just noticed an update post and was like I got to congratulate you
Its good to hear that you have made some money on your investment and keep enjoying life mate
If he just ignores the price for two years he will be soooooo rich.
When you are young, let it ride man, let it ride.
If he holds on to even ~half, then this sale will turn out to have been a brilliant (risky) move.
I am back Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.
Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life. Just noticed an update post and was like I got to congratulate you
Its good to hear that you have made some money on your investment and keep enjoying life mate
If he just ignores the price for two years he will be soooooo rich.
When you are young, let it ride man, let it ride.
Good luck dude
By the end of this year you will be able to re-buy that house and hold the other 400 remaining btc for future investments.
By the end of this year you will be able to re-buy that house and hold the other 400 remaining btc for future investments.
He may have an other house or a salary and he rent
I don't think he will sell any bitcoins before 2500$-3000$
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