Topic: I'm All In - Sold My House! - page 53. (Read 112579 times)

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.

Bitcoin appreciates quickly, what is 10% now is over 50% in a year if we adhere to the historic value increase of Bitcoin. So either sell/buy frequently, or don't care too much about the relative allocation in your portfolio.

Buying a house is not considered risky because you will use that house every day.    Selling the house to buy something you do not use everyday is most certainly risky.

Im not against the choice as such but this is just 1+1=2 in risk analysis.     At least the OP should secure his accommodation.   If a man chooses to sell a large house and live in a tiny room somewhere then so be it , maybe he saves on heating bills and maybe he can justify it all.  But to have have nothing at all as replacement seems unsustainable which is where it becomes an excessive gamble.

If it was written, I run a BTC business and I need the coins for the float on my exchange. Liquidity perhaps, some sort of every day utilisation then that starts to become or a reasonable risk at least.
I would say the same thing if you bought all silver bars.  IF you are a jeweller then fine, thats fair enough to go leaning into overstocking it but to have no use and overstock something is plain speculation.

A sensible amount of holding gold for anyone at all, people reading this or your grandma even is about 10% so I'd say the same for BTC.   You may never need the gold or the gov might raise interest rates to 10% and the price of gold falls.    With BTC, we might see it rise and it is a needed product or again we might see it redundant.  Nobody knows for sure, I would guess gov cannot raise rates to 10% nor that btc is easily replaced but we'll see.


Also do we have the transaction link for the 640 btc, or is that not posted for security perhaps
He needs a security advisor.  Can a paper wallet be printed out via 3d printer, paper sounds a bit weak 

I don't think a flash crash will provide for sufficient time to sell your kidney.

Some are making fun of this guy or saying was a waste of an investment but what would you say if bitcoin reaches 10,000 and this man becomes millionaire  .
i think some willl be begging

Hope OP didn't get weak hands in the last couple months.  I really hope this works out for him.

It can go to 100 in a flash crash to rapidly recover back.. but if it stays at 100 for more than a week.. we had to see why happened, bit bitcoin all is possible, several times have crashed to less than 10% and recovered back..  

If it goes to 100$ it will mean that there has been one or more huge bad news so it will be harder to buy it than now

Well I'm bringing this back as a Bull indicator since it looks like this is now becoming a smart investment decision
Time tells no lies but that also includes the price at the time of transaction

yeah ... electricity has got roots ... fanny indeed isn't  ?

well house bubble guys .. the good stuff about not owning a land is that I don't need to pay for electricity either ...

Owning your house is qualitatively better than renting, because owning gives control, which you need to have a stable life. Because of this, owning should be more expensive, just like buying the majority of shares of a company is more expensive (per share) than just buying a small part. Of course everything is distorted by tax, inflation, interest rate and so on.

What could be possible, is that people buy a house that is rightsized, in stead of maximizing the house in order to save more. Housing is, in addition to being a consumer good, an asset for saving. The most straightforward non risk asset should be money, but as we know, currently fiat money does not have the wealth preservation trait.

Houses attract additional value because of its use in saving. It is tempting to leverage up in times of rise. Sadly, in the long run, over multiple bubbles/crashes, it will only hold its real value.

Yup, leverage is always risky.  The job market and housing demand seem strongly correlated .  Job is lost, so income source dries up and the homeowner is underwater due to falling housing market, leaving them with limited and difficult options.  This seems to be the story of the past decade.  The really difficult thing is that it's not really a voluntary market, almost everybody demands housing.  Renters have to worry about being kicked to the curb by their landlord, which is a considerable risk to me.  In my life I was forced to move 3 times from rentals, twice because the owner sold and a third time because the complex was demolished.  Hodling a house isn't just an investment for most, it's a place to live and have a family.
And as always, don't forget property taxes  
another considerable cost that often increases during economic decline (less business tax income, residential tax raised)
I'm not sure what the winning move is that doesn't require a big starting stack of money.

if bitcoin goes to $100, I will think seriously about I sell my kidney ...

I agree ...Cocaine,Hookers,Booze & Fast Cars

Bitcoin would be cool if you could only buy certain things with it.  Probably make it more exclusive and more desirable. 

Think of it, would aliens accept dollar? I don't think so. Would they accept Bitcoin? Sure, why not? If I can buy alien technology with bitcoin but not with fiat, then bitcoin will succeed whether the government wants it or not. You bears will be riding your petrol powered four wheel junks of metal while I'll be piloting a flying saucer with hot space babes.

lol

Gotta leverage up your investment.

ALL IN! 

News like that make me want to cancel all my open bids and just hit market buy.

discipline is holding me back.