My 2,000 BTC is all gone :( - page 6.

Rassah

legendary

Activity: 1680

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Quote from: Gyrsur on February 15, 2013, 12:08:16 PM

that's called deflation: hold it until there is no other possibility. which is good for an asset but not for a currency.

What's the difference, really? I'll refuse to sell my appreciating stocks and commodities, just like I'll refuse to sell my appreciating Bitcoin... And most of the wealth out there is in assets, not USD...

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: SgtSpike on February 15, 2013, 11:58:47 AM

Quote from: n8rwJeTt8TrrLKPa55eU on February 15, 2013, 10:06:51 AM

Quote from: niko on February 14, 2013, 10:08:43 AM

This thread is precious in the light of all the screaming "deflationary currency prevents spending and will kill the economy!!!".

This, this, this!

It's an interesting psychological situation. Because things become cheaper and cheaper as you go along, you think, "Wow, this car would have cost me 9000 BTC last year, but now I can buy it for only 1500 BTC, that's a steal!" Nevermind that you'd be able to buy it for 375 BTC the next year.

Granted, had I waited two weeks, I could've had almost $10,000 more. Though it may have been just as likely that as soon as it had reached $22.5, it went down to $15 again.

Gyrsur

legendary

Activity: 2856

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Bitcoin Legal Tender Countries: 2 of 206

Quote from: SgtSpike on February 15, 2013, 11:58:47 AM

Quote from: n8rwJeTt8TrrLKPa55eU on February 15, 2013, 10:06:51 AM

Quote from: niko on February 14, 2013, 10:08:43 AM

This thread is precious in the light of all the screaming "deflationary currency prevents spending and will kill the economy!!!".

This, this, this!

It's an interesting psychological situation. Because things become cheaper and cheaper as you go along, you think, "Wow, this car would have cost me 9000 BTC last year, but now I can buy it for only 1500 BTC, that's a steal!" Nevermind that you'd be able to buy it for 375 BTC the next year.

that's called deflation: hold it until there is no other possibility. which is good for an asset but not for a currency.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: n8rwJeTt8TrrLKPa55eU on February 15, 2013, 10:06:51 AM

Quote from: niko on February 14, 2013, 10:08:43 AM

This thread is precious in the light of all the screaming "deflationary currency prevents spending and will kill the economy!!!".

This, this, this!

It's an interesting psychological situation. Because things become cheaper and cheaper as you go along, you think, "Wow, this car would have cost me 9000 BTC last year, but now I can buy it for only 1500 BTC, that's a steal!" Nevermind that you'd be able to buy it for 375 BTC the next year.

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

Merit: 500

Quote from: niko on February 14, 2013, 10:08:43 AM

This thread is precious in the light of all the screaming "deflationary currency prevents spending and will kill the economy!!!".

This, this, this!

BigFigurez

newbie

Activity: 42

Merit: 0

Isn't this a good thing? BTC rose so whenever you invested should be at least +50% by now

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: goxed on February 14, 2013, 07:09:13 PM

Quote from: ?? on ??

Nice car by the way. How many D cells does that thing take! Grin

120 ? http://imabattery.blogspot.com

Did you purposefully link to a blog that accepts Bitcoin donations?

Monster Tent

full member

Activity: 238

Merit: 100

Quote from: Rassah on February 13, 2013, 10:25:35 PM

So, my husband owns the house (the mortgage is in his name), but a few years ago we opened a HELOC (Home Equity Line of Credit) together, with both our names on it. Some time last summer, I borrowed $15,000 from the HELOC without really asking for permission or telling my husband about it. I told him eventually (he asked about it after seeing a transfer on the monthly statement). I used that entire $15,000 to invest in bitcoins, and bought about 2,000+ of them.
Anyway, as of last Sunday, it's all gone. No more 2,000+ BTC. All gone poof Cry

You must have an understanding husband or you now use the new car to live in

goxed

legendary

Activity: 1946

Merit: 1006

Bitcoin / Crypto mining Hardware.

Quote from: ?? on ??

Nice car by the way. How many D cells does that thing take! Grin

120 ? http://imabattery.blogspot.com

Herodes

hero member

Activity: 868

Merit: 1000

Quote from: Rassah on February 14, 2013, 02:49:39 PM

Quote from: molecular on February 14, 2013, 02:14:58 PM

Quote from: Littleshop on February 14, 2013, 01:59:54 PM

Quote from: molecular on February 14, 2013, 01:08:22 PM

Quote from: Littleshop on February 14, 2013, 12:55:43 PM

Quote from: dust on February 14, 2013, 01:18:40 AM

ITT: ~~Attention~~-grabbing title to brag about an ~~irresponsible~~ gamble.

FTFY

anything wrong with that?

I don't think so! It got my attention.

"Took $15,000 from husband to earn a car speculating on bitcoin" would've done it for me, too.

Not exactly "took from husband" as the HELOC is in both our names. It's more like "took money from join checking account without bothering to ask my husband." I hear it is a very frequent problems with guys who have wives (my SA goon friend's wife maxes out his cards all the damn time). At least my money wasn't being thrown away on something useless, and was put into what was a fairly secure investment at the time.

P.P.S. Not only am I the financial expert in the family (saved parents a few $10k through refinances and other financial tricks, bailed friends out financially, etc), I also fully fund my husband's IRA ever year, and let him keep the resulting $2,000 tax return that he gets from it (that's on top of the $500/paycheck I put into my own 401k. Retirement first, Bitcoin as a bonus second). I'm not all bad Cheesy

Great stuff, keep it up!

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: molecular on February 14, 2013, 02:14:58 PM

Quote from: Littleshop on February 14, 2013, 01:59:54 PM

Quote from: molecular on February 14, 2013, 01:08:22 PM

Quote from: Littleshop on February 14, 2013, 12:55:43 PM

Quote from: dust on February 14, 2013, 01:18:40 AM

ITT: ~~Attention~~-grabbing title to brag about an ~~irresponsible~~ gamble.

FTFY

anything wrong with that?

I don't think so! It got my attention.

"Took $15,000 from husband to earn a car speculating on bitcoin" would've done it for me, too.

Not exactly "took from husband" as the HELOC is in both our names. It's more like "took money from join checking account without bothering to ask my husband." I hear it is a very frequent problems with guys who have wives (my SA goon friend's wife maxes out his cards all the damn time). At least my money wasn't being thrown away on something useless, and was put into what was a fairly secure investment at the time.

P.P.S. Not only am I the financial expert in the family (saved parents a few $10k through refinances and other financial tricks, bailed friends out financially, etc), I also fully fund my husband's IRA ever year, and let him keep the resulting $2,000 tax return that he gets from it (that's on top of the $500/paycheck I put into my own 401k. Retirement first, Bitcoin as a bonus second). I'm not all bad Cheesy

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Littleshop on February 14, 2013, 01:59:54 PM

Quote from: molecular on February 14, 2013, 01:08:22 PM

Quote from: Littleshop on February 14, 2013, 12:55:43 PM

Quote from: dust on February 14, 2013, 01:18:40 AM

ITT: ~~Attention~~-grabbing title to brag about an ~~irresponsible~~ gamble.

FTFY

anything wrong with that?

I don't think so! It got my attention.

"Took $15,000 from husband to earn a car speculating on bitcoin" would've done it for me, too.

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: molecular on February 14, 2013, 01:08:22 PM

Quote from: Littleshop on February 14, 2013, 12:55:43 PM

Quote from: dust on February 14, 2013, 01:18:40 AM

ITT: ~~Attention~~-grabbing title to brag about an ~~irresponsible~~ gamble.

FTFY

anything wrong with that?

I don't think so! It got my attention.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Nicely done Rassah! Ignore the naysayers - they're just jealous they didn't do the same.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Littleshop on February 14, 2013, 12:55:43 PM

Quote from: dust on February 14, 2013, 01:18:40 AM

ITT: ~~Attention~~-grabbing title to brag about an ~~irresponsible~~ gamble.

FTFY

anything wrong with that?

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: molecular on February 14, 2013, 11:59:32 AM

you got a good approach there. at least looking back it has worked well. i think it will in the future, too

I'm sure it will. Soon as the Bitcoin euphoria dies down a bit, and prices come down to whatever levels I figure are reasonable, hubby already asked me to do this again to help pay off his new (bought a year ago) car. No idea when the Bitcoin rollercoaster will reach the top though.

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: dust on February 14, 2013, 01:18:40 AM

ITT: ~~Attention~~-grabbing title to brag about an ~~irresponsible~~ gamble.

FTFY

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Rassah on February 14, 2013, 09:43:07 AM

Quote from: molecular on February 14, 2013, 09:17:47 AM

Rassah, did you pay capital gains tax on the $15,000?

Americans and their cars... why not just keep 1000 BTC and stay in the game?

Nope. Won't have to until April a year from now.
I need a car to drive to work, and mine is almost dead, so...
Also, I'm still in the game. The bitcoins I sold were only the ones I bought with the $15,000 I borrowed. Ever since June of 2011 I have switched from using my bank's savings account to using Bitcoin as my main savings account, and ever since have saved about $200 every paycheck into bitcoin for things like travel, new phones/computers, miscellaneous purchases, and emergency fund stuff. When I announced I'm doing that (about same time Falkvinge said he's moving all his savings into bitcoin), a bunch of people said I was crazy and an idiot for doing that because of bitcoin's volatility. I'm sure there are many who still think that. Yes, it's volatile, but the volatility really doesn't matter over the long term. Long story short, my BTC account is worth about $20,000 more than I actually put into it, despite the rise to $30, crash to $3, and everything in between. And yes, I've cashed out plenty of times as I traveled or bought electronics. Travels all go on credit cards (lots of cash-back), and get paid off the same month.

glad to hear you're still in the game

you got a good approach there. at least looking back it has worked well. i think it will in the future, too

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

This thread is precious in the light of all the screaming "deflationary currency prevents spending and will kill the economy!!!".
Enjoy your purchases, Rassah! You use Bitcoin, not the other way around Wink

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: molecular on February 14, 2013, 09:17:47 AM

Rassah, did you pay capital gains tax on the $15,000?

Americans and their cars... why not just keep 1000 BTC and stay in the game?

Nope. Won't have to until April a year from now.
I need a car to drive to work, and mine is almost dead, so...
Also, I'm still in the game. The bitcoins I sold were only the ones I bought with the $15,000 I borrowed. Ever since June of 2011 I have switched from using my bank's savings account to using Bitcoin as my main savings account, and ever since have saved about $200 every paycheck into bitcoin for things like travel, new phones/computers, miscellaneous purchases, and emergency fund stuff. When I announced I'm doing that (about same time Falkvinge said he's moving all his savings into bitcoin), a bunch of people said I was crazy and an idiot for doing that because of bitcoin's volatility. I'm sure there are many who still think that. Yes, it's volatile, but the volatility really doesn't matter over the long term. Long story short, my BTC account is worth about $20,000 more than I actually put into it, despite the rise to $30, crash to $3, and everything in between. And yes, I've cashed out plenty of times as I traveled or bought electronics. Travels all go on credit cards (lots of cash-back), and get paid off the same month.

Topic: My 2,000 BTC is all gone :( - page 6. (Read 9017 times)