Topic: I'm All In - Sold My House! - page 66. (Read 112579 times)
Wise decision. I'll quote myself when you have x10 your money.
It's a gamble, but if he's that young and doesn't need the house he's taking the risk for a possible future of billions. Good luck to you and you better have those bitcoins offline with multiple encrypted backups and super safe!
Making the assumption the op is for real. I'd sell at least 500 btc, holding it all is risky, reckless, stupid, nuts. Only the rich and financially secure early adopters have any business holding numbers like that.
If you guys consistently knew when and what the market was going to do you guys would probably be rich by now. You could probably turn 10k in to 100k with all the opportunities that bitcoin has presented itself in the past 6 months. While I do not doubt any of your abilities to trade bitcoins and make a profit, it probably has been 4-5x your initial deposit along with all the stress that it is accompanied with it. The OP is probably looking to hold 400k worth of coins for more than 1 or 2 years. The fact that you guys are telling him the price might drop 75% in one day should not phase him because the price has risen that much in a day too. I am young, taking risks is an opportunity that you can do when you are younger. You guys might be afraid that you will lose everything in a blink of an eye, but that is a risk that the OP is willing to take.
Making the assumption the op is for real. I'd sell at least 500 btc, holding it all is risky, reckless, stupid, nuts. Only the rich and financially secure early adopters have any business holding numbers like that.
I'm all out of bitcoin atm as well - thanks mtgox.
Ah, so you sold your coins and you're short?
I am neither short nor long.
I am all out of Bitcoin at the moment.
Never felt so relaxed in weeks.
A few great men risked it all and became billionares good for you I love the enthusiasm....
Do remember to come back in three years time and post about how lucky this guy was.
totally different scenario to the early adopters in many ways....
....not least of all that you or I could have become near millionaires by investing a small amount of capital. As it turns out, you invested an absolute pittance and I invested jackshit/spent all my single digit Bitcoins on Silk Road.
This guy is investing a small fortune. Totally different fkn ball game at a totally different phase of Bitcoins development. Can you really say that we aren't yet going to test the $266 April 2013 high? I doubt it, but with Bitcoin anything is possible so I wouldn't be writing that off.
Bitcoin is overblown. Simple as that. Hyper-inflated value derived from from a speculative mania based entirely upon hoarding, restricted supply, and lack of market liquidity. Reverse any of these factors (such as having around 500K stolen coins looking to convert themselves into USD and Bitcoin could easily go in the opposite extreme.
Bitcoin might go to $5K within the next 18 months. But it also may just hit the $200s, or even less depending on how some totally unpredictable events happen to play out. As they say, don't go putting yer house on it.
Ah, so you sold your coins and you're short?
Hi All,
I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.
http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html
Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck
Tay More
I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.
http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html
Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck
Tay More
Bitcoin needs to be priced at 1.5 mil. for those 648 coins to make you billionaire.
So, unless you trade the shit out of them to grow that number, I doubt you'll come close to being bitcoin billionaire.
Should've sold @ $1200+ though, you'd be alot closer than you are now.
Hi All,
I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.
http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html
Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck
Tay More
I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.
http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html
Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck
Tay More
Bitcoin needs to be priced at 1.5 mil. for those 648 coins to make you billionaire.
So, unless you trade the shit out of them to grow that number, I doubt you'll come close to being bitcoin billionaire.
I will truly be a bitcoin billionaire by the time I am 25 I believe
wow....little over the top eh?
remember to wait for atleast 2 confirms 
Mat, I will bet you 2 btc that we will not hit $266 or lower before reaching a new ATH. Gentlemans agreement is fine with me.
To make it fair you need to quote the bet account in fiat or other fixed asset, not BTC, otherwise the asymmetry in your favor. If BTC goes to zero, you lose but it costs you nothing, whereas if it hits new ATH, he loses and costs him a lot.
Mat, I will bet you 2 btc that we will not hit $266 or lower before reaching a new ATH. Gentlemans agreement is fine with me.
To make it fair you need to quote the bet account in fiat or other fixed asset, not BTC, otherwise the asymmetry in your favor. If BTC goes to zero, you lose but it costs you nothing, whereas if it hits new ATH, he loses and costs him a lot.
Mat, I will bet you 2 btc that we will not hit $266 or lower before reaching a new ATH. Gentlemans agreement is fine with me.
The minute I become convinced that we will see $200 bitcoin again, I won't mince around putting 2 BTC bets with you, but get over to Bitfinex and put on the biggest short I can manage.
I don't believe we will trend as low as $266 as long as Bitcoin still has life in front of it, which it does. If however some kind of downside X-Factor were to occur.......
My stance on Bitcoin is neither Bull nor Bear. What I do believe is that right now Bitcoin is looking weak at its current price range. New lower lows than $400? No chance! But for me, Bitcoin will trend a good bit lower than it is now. For me it just isn't a buy at the moment.
Thanks for believing, but be careful with your bitcoins, I hope you know a lot about cold storage!
Do remember to come back in three years time and post about how lucky this guy was.
totally different scenario to the early adopters in many ways....
I agree it was different in terms of initial investment, but once those early bitcoins were worth big money it really wasn't different at all. Consider the guy who took a risk and bought $10,000 of BTC in November 2011 at $2 a piece giving him 5,000 BTC.
Bitcoin hits $200 in spring of 2013. He now *could* cash out $1,000,000. It no longer matters that he only paid $10,000 for the coins. The risk he is taking by continuing to hold those coins is the same risk that someone with $1,000,000 is taking buying 5,000 BTC in spring 2013.
The point I'm trying to make is early adopters were tempted to sell their coins off all the way along, and many did. Unless you just completely forgot about your bitcoins until now, I imagine early adopters were constantly fighting with themselves on how many coins to sell. If the guy in my example holds through the April bubble until this December at $1,000 / BTC, well, that took a lot of balls! The fact they he only "paid" $10,000 has long become irrelevant.
That being said, I do think it is wise to diversify to some extent and honestly ask yourself how you'll feel if it all falls apart.
Do remember to come back in three years time and post about how lucky this guy was.
totally different scenario to the early adopters in many ways....
....not least of all that you or I could have become near millionaires by investing a small amount of capital. As it turns out, you invested an absolute pittance and I invested jackshit/spent all my single digit Bitcoins on Silk Road.
This guy is investing a small fortune. Totally different fkn ball game at a totally different phase of Bitcoins development. Can you really say that we aren't yet going to test the $266 April 2013 high? I doubt it, but with Bitcoin anything is possible so I wouldn't be writing that off.
Bitcoin is overblown. Simple as that. Hyper-inflated value derived from from a speculative mania based entirely upon hoarding, restricted supply, and lack of market liquidity. Reverse any of these factors (such as having around 500K stolen coins looking to convert themselves into USD and Bitcoin could easily go in the opposite extreme.
Bitcoin might go to $5K within the next 18 months. But it also may just hit the $200s, or even less depending on how some totally unpredictable events happen to play out. As they say, don't go putting yer house on it.
Do remember to come back in three years time and post about how lucky this guy was.
totally different scenario to the early adopters in many ways....
....not least of all that you or I could have become near millionaires by investing a small amount of capital. As it turns out, you invested an absolute pittance and I invested jackshit/spent all my single digit Bitcoins on Silk Road.
This guy is investing a small fortune. Totally different fkn ball game at a totally different phase of Bitcoins development. Can you really say that we aren't yet going to test the $266 April 2013 high? I doubt it, but with Bitcoin anything is possible so I wouldn't be writing that off.
Bitcoin is overblown. Simple as that. Hyper-inflated value derived from from a speculative mania based entirely upon hoarding, restricted supply, and lack of market liquidity. Reverse any of these factors (such as having around 500K stolen coins looking to convert themselves into USD and Bitcoin could easily go in the opposite extreme.
Bitcoin might go to $5K within the next 18 months. But it also may just hit the $200s, or even less depending on how some totally unpredictable events happen to play out. As they say, don't go putting yer house on it.
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