What is your plan with Bitcoin? - page 7.

BobK71

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Quote from: smartaction on September 10, 2022, 01:01:05 PM

Quote from: jkoil on September 10, 2022, 09:45:38 AM

Quote from: ?? on ??

Quote from: Cryptmuster on September 10, 2022, 02:25:48 AM

Quote from: smartaction on September 09, 2022, 11:53:48 AM

I bought 1 bitcoin 29th june with bank loan. Although I am repaying the bank in installments at a fixed rate every month. When my bank loan is paid off that Bitcoin will be an asset of my own. And I plan to hold it for a long time. At least 5 years. Because I believe Bitcoin will become a very valuable asset in the future. Then maybe this 1 bitcoin will be enough to make me a big rich.

Have you calculated how much overpayment you make to the bank on the loan? And for what period did you take out a loan? I never liked loans, I don't like being indebted to anyone, and I never even thought about taking out a loan to buy bitcoin. But it may work in the future, when bitcoin rises in price, the profits can be very substantial. The most important, to be able to repay this loan.

The bank ask to me 10% APR overpayment and they gave me 3 years of time. it will charge 30% of return to me . and i have borrowed $10k and i have to repay to bank total of $13k in 3 years (36 Month) I paying them $360 per month. And I am paying it to the bank every month from my real job salary. I'm not afraid of it yet. And am I happily giving it up because I have a full of 1 bitcoin which is my future big asset

The step you have taken is actually not preferable as it is very risky. But you have a positive side that you have another job for repaying your loan . Otherwise, a common man should invest as much as he can afford to lose. But it's true that if you can hold it for long then you will of course saw the profit. I hope you can double or triple the profit of your invested funds in two to three years.But I wouldn't suggest to anyone to do this that taking loan for trading.

I am thinking that in three years I have to pay them back all money to the bank with only 30% profit. and i believe bitcoin will make a ATH at $100k in future . if i can hold my btc atleast 5 years then it may make a new ATH then around $100k . If it works as per my target then I will get 500% profit from it . That would be a big success for me . I am waiting for that. and i believe in a words no risk no gain

In this case, the first thing I need to know how long ago you made the loan? Since Bitcoin is long-term bearish, those who make short-term plan for Bitcoin must change their plans. It is true that Bitcoin will cross another ATH in the next 2 years. And it will be easy to make profit with repayment of borrowed money through ATH. Besides, everyone knows what can happen when Bitcoin starts roaring.

smartaction

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Quote from: jkoil on September 10, 2022, 09:45:38 AM

Quote from: ?? on ??

Quote from: Cryptmuster on September 10, 2022, 02:25:48 AM

Quote from: smartaction on September 09, 2022, 11:53:48 AM

I bought 1 bitcoin 29th june with bank loan. Although I am repaying the bank in installments at a fixed rate every month. When my bank loan is paid off that Bitcoin will be an asset of my own. And I plan to hold it for a long time. At least 5 years. Because I believe Bitcoin will become a very valuable asset in the future. Then maybe this 1 bitcoin will be enough to make me a big rich.

Have you calculated how much overpayment you make to the bank on the loan? And for what period did you take out a loan? I never liked loans, I don't like being indebted to anyone, and I never even thought about taking out a loan to buy bitcoin. But it may work in the future, when bitcoin rises in price, the profits can be very substantial. The most important, to be able to repay this loan.

The bank ask to me 10% APR overpayment and they gave me 3 years of time. it will charge 30% of return to me . and i have borrowed $10k and i have to repay to bank total of $13k in 3 years (36 Month) I paying them $360 per month. And I am paying it to the bank every month from my real job salary. I'm not afraid of it yet. And am I happily giving it up because I have a full of 1 bitcoin which is my future big asset

The step you have taken is actually not preferable as it is very risky. But you have a positive side that you have another job for repaying your loan . Otherwise, a common man should invest as much as he can afford to lose. But it's true that if you can hold it for long then you will of course saw the profit. I hope you can double or triple the profit of your invested funds in two to three years.But I wouldn't suggest to anyone to do this that taking loan for trading.

I am thinking that in three years I have to pay them back all money to the bank with only 30% profit. and i believe bitcoin will make a ATH at $100k in future . if i can hold my btc atleast 5 years then it may make a new ATH then around $100k . If it works as per my target then I will get 500% profit from it . That would be a big success for me . I am waiting for that. and i believe in a words no risk no gain

aquafinewater

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I,m starting my crypto journey last year but due to high volatility I won't make good profit so I decided to first learn about crypto and also start investing in every big dump so in future I'm sure Bitcoin give us great return ...

kryptqnick

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Quote from: JamesDaniel90 on September 07, 2022, 06:28:07 PM

Hi all,

I started investing in crypto February this year but due to the high price of Bitcoin did not start investing in it until mid June just after the crash.

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

I am not sure that Bitcoin will reach such price points, to be honest, but something like 300k is probably realistic. Who knows, maybe it can go up even further, I'm just not sure because that would mean that either the global economy grew enormously by that point or that Bitcoin gets a much bigger stake of the global economy than it currently has. I don't have a particular price point, and I treat Bitcoin basically as savings (aside from a small amount I keep for gambling and from occasional donations in Bitcoin): I try not to spend it if I don't have to, but I sell for fiat when I need to. I find it an okay strategy because it means I don't have high expectations, don't rely on Bitcoin growing over time, and don't worry much about the price.

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Quote from: Cryptmuster on September 10, 2022, 02:25:48 AM

Quote from: smartaction on September 09, 2022, 11:53:48 AM

I bought 1 bitcoin 29th june with bank loan. Although I am repaying the bank in installments at a fixed rate every month. When my bank loan is paid off that Bitcoin will be an asset of my own. And I plan to hold it for a long time. At least 5 years. Because I believe Bitcoin will become a very valuable asset in the future. Then maybe this 1 bitcoin will be enough to make me a big rich.

Have you calculated how much overpayment you make to the bank on the loan? And for what period did you take out a loan? I never liked loans, I don't like being indebted to anyone, and I never even thought about taking out a loan to buy bitcoin. But it may work in the future, when bitcoin rises in price, the profits can be very substantial. The most important, to be able to repay this loan.

The bank ask to me 10% APR overpayment and they gave me 3 years of time. it will charge 30% of return to me . and i have borrowed $10k and i have to repay to bank total of $13k in 3 years (36 Month) I paying them $360 per month. And I am paying it to the bank every month from my real job salary. I'm not afraid of it yet. And am I happily giving it up because I have a full of 1 bitcoin which is my future big asset

The step you have taken is actually not preferable as it is very risky. But you have a positive side that you have another job for repaying your loan . Otherwise, a common man should invest as much as he can afford to lose. But it's true that if you can hold it for long then you will of course saw the profit. I hope you can double or triple the profit of your invested funds in two to three years.But I wouldn't suggest to anyone to do this that taking loan for trading.

TheUltraElite

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So anyway, I applied as a merit source :)

Mostly holding and buying more while selling to buyback.

Things are not so cool in many countries such that they are going to allow bitcoin transactions easily. Hence for many users of this forum coming from such countries, they can only hold. Of course this leads to the habit of spending on bitcoin based casinos, but if that is kept on hold, I think a person can accumulate a good number of coins during a few years during every crash.

Hoping to see merchants accepting crypto because that would be the next big thing here.

Oneandpure

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I was bought bitcoin at the price of $20k . I still don't rely on Bitcoin to pay off bank loans . I am repaying the bank loan in monthly installments from my real job salary . And I didn't borrow the entire 20k dollar from the bank. I borrowed an amount equal to $10k from the bank. the bank gave me loan for 36 month. Due to which every month I have to pay installments of 360$ to the bank

You have another passive income for repaying the bank loan in monthly installments I think very good ideas and keep holding bitcoin until your loan running for 36 months. I have another ideas what ever your capital coming from to invest with bitcoin loan from the bank or not keep take profit when bitcoin reach up and you can buy back later when bitcoin price going dump. I think with this kinds way you can pay loan before 36 months because you used loan from the bank as capital for trading in bitcoin not as investing assets in bitcoin.
Taking profit from bitcoin trading maybe you can pay $360 each months without use from your real job salary and you will get much profit from your trading than use loan for long term investment.

Cryptmuster

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Quote from: smartaction on September 09, 2022, 11:53:48 AM

I bought 1 bitcoin 29th june with bank loan. Although I am repaying the bank in installments at a fixed rate every month. When my bank loan is paid off that Bitcoin will be an asset of my own. And I plan to hold it for a long time. At least 5 years. Because I believe Bitcoin will become a very valuable asset in the future. Then maybe this 1 bitcoin will be enough to make me a big rich.

Have you calculated how much overpayment you make to the bank on the loan? And for what period did you take out a loan? I never liked loans, I don't like being indebted to anyone, and I never even thought about taking out a loan to buy bitcoin. But it may work in the future, when bitcoin rises in price, the profits can be very substantial. The most important, to be able to repay this loan.

taufik123

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Quote from: nurilham on September 09, 2022, 06:29:59 PM

Quote from: budi691 on September 09, 2022, 02:34:17 AM

i don't expect bitcoin price to reach the highest price for now, but later in the future i will definitely get it, it may take a long time and it takes strength to be patient

You don't expect Bitcoin price to reach another ATH now since it is time for collecting (buying) BTC. You will expect it in the future when you already have a plan to sell your Bitcoin. Everyone should expect to sell their Bitcoin at Bitcoin ATH.

It is everyone's hope to be able to sell at the latest ATH for Bitcoin. But what we currently need to do is continue to collect them and hold them.
Bitcoin may be lower than the current price, as long as you have spare money to catch bitcoins at low prices.
Plans with bitcoin for the future should really be thought out and laid out from now on.
the future of bitcoin is still very bright and this is only the beginning.

Tony116

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Quote from: Oneandpure on September 09, 2022, 01:41:07 PM

Quote from: smartaction on September 09, 2022, 11:53:48 AM

I bought 1 bitcoin 29th june with bank loan. Although I am repaying the bank in installments at a fixed rate every month. When my bank loan is paid off that Bitcoin will be an asset of my own. And I plan to hold it for a long time. At least 5 years. Because I believe Bitcoin will become a very valuable asset in the future. Then maybe this 1 bitcoin will be enough to make me a big rich.

Braveness taking loan on the bank and use for investing in bitcoin, I think not easy with bitcoin unpredictable price although with how long your loan deadline days. Always have bad speculation when bitcoin price drop maybe you need to recover and finding another way how to pay Bank loan. But if got great chance taking loan and investing when bitcoin price drop not any mistake and you can sell bitcoin assets and pay all loan bank.
Maybe if you have real job you can repaying the bank in installments with your salary and hold bitcoin until five years later, but what happen keep holding after five years later and bitcoin price drop drastically? how do you find ways to pay loan bank although bitcoin have been your assets but have lower and drop price.

Investing with borrowed money is not good and should not be recommended. He is a legendary rank, I think he has enough experience and calculation in this case, I think he already has his plan, if he has an outside job and has a stable income, and is able to only pay interest and debt to the bank, there will be no problem. At the current price of bitcoin around $20k, the debt that he has is probably around $20k, within 5 years I think he will be able to pay off those debts. If bitcoin drop at that time he will not be affected and not necessarily sell them.

nurilham

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Quote from: budi691 on September 09, 2022, 02:34:17 AM

i always invest bitcoin whenever i have extra money from my job, -snip-

You invest with the right capital, it is better to use extra money than to take a loan. Although you only can buy a small number of Bitcoin, gradually the number of your Bitcoin will increase if you buy BTC continuously. This way is much safer, you will not be burdened with interest on debt and there is no need to rush to sell it because there is no urgent need. So, you can hold your Bitcoin as long as you want. Wink

Quote from: budi691 on September 09, 2022, 02:34:17 AM

i don't expect bitcoin price to reach the highest price for now, but later in the future i will definitely get it, it may take a long time and it takes strength to be patient

You don't expect Bitcoin price to reach another ATH now since it is time for collecting (buying) BTC. You will expect it in the future when you already have a plan to sell your Bitcoin. Everyone should expect to sell their Bitcoin at Bitcoin ATH.

adzino

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Quote from: JamesDaniel90 on September 07, 2022, 06:28:07 PM

Hi all,

I started investing in crypto February this year but due to the high price of Bitcoin did not start investing in it until mid June just after the crash.

Since then I have been DCA every week and currently own 2% of a Bitcoin at an average price of £17,900.

My goal is to hold Bitcoin until it reaches £500k - £1m, i know it will take a long time but will be worth it.

I am hoping these current prices last a lot longer so that we can all continue to DCA at low prices.

Just wondering how everyone else invests in Bitcoin? How often do you buy and how long do you plan to hold?

Just wondering if the price had never crashed, you would never have invested since you were waiting for a crash? I don't think you should stop investing because the price is high. Wasn't the price already high during the crash if you compare it with few years ago?

I don't follow any specific strategy. If I have some money lying around that I won't need. It goes into Bitcoin and other crypto currencies. I keep holding as long as I want. Never had to sell yet.

Mr.right85

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Quote from: smartaction on September 09, 2022, 11:53:48 AM

I bought 1 bitcoin 29th june with bank loan. Although I am repaying the bank in installments at a fixed rate every month. When my bank loan is paid off that Bitcoin will be an asset of my own. And I plan to hold it for a long time. At least 5 years. Because I believe Bitcoin will become a very valuable asset in the future. Then maybe this 1 bitcoin will be enough to make me a big rich.

The end result will always remain the determinant of some drastic steps of which I think this is one as, I can't venture that way myself. I might be a risk taker but taking loans to invest is definitely not my style.

It's a good thing you've got your plans layer out on how to repay the loans on you with the interest it might attract while you hold on to your 1btc for a 5years period. It doesn't seem like a bad plan if you could see it through. Hope you do though.

KingsDen

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Quote from: smartaction on September 09, 2022, 11:53:48 AM

I bought 1 bitcoin 29th june with bank loan. Although I am repaying the bank in installments at a fixed rate every month. When my bank loan is paid off that Bitcoin will be an asset of my own. And I plan to hold it for a long time. At least 5 years. Because I believe Bitcoin will become a very valuable asset in the future. Then maybe this 1 bitcoin will be enough to make me a big rich.

A very bold and thoughtful act. I love your courage of getting loan to buy btc, but what I love most is that it seems you have a very convenient package for repayment of the loan which does not weigh you down or send you into depression. I am not against taking a loan, but there should be a workable and laid down means of re-payment.

In 5years time according to your projection you would be very comfortable certainly. Even if a bull run for a certain time is defeated by the market conditions, it cannot prevent bitcoin from having a decent bull, even if it's once.

Unlike Op that wants to hold forever, I don't like that idea. When you have good profit from bitcoin, you sell and you could have another opportunity to re-buy. But Op making projection of $500 or $1M makes me think if he is saving bitcoin for his future generations to enjoy.

imamusma

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I don't think big things about bitcoin, but of course I hope it becomes the best choice for most countries to adopt as a means of payment. Countries like El Salvador have done it before, so I hope other countries in Europe, Asia and America will also legalize it as a legal currency. Stability is expected if this adoption continues to increase, so that the government does not have to worry about which system is good for the people to use.

Another hope is, I want to have more bitcoin in my wallet as an investment asset for old age.

OgNasty

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My plan is to build cool things, help onboard friends and family, accumulate Bitcoin, and wait for a massive overbought opportunity to sell a stack and spend my free time doing good things I want to see happen in the world. It's tough to know when enough is enough, but I guess we all have our own numbers in mind. I just hope that my little projects and onboarding attempts make a difference to someone out there. Would be great to know I've helped someone avoid eating crickets in the future.

|MINER|

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Quote from: JamesDaniel90 on September 07, 2022, 06:28:07 PM

~snip~

Actually I am not that much long time holder trader 500k-1m is a huge target maybe it can take 10\15 or 20 years?! Even then I have done many long term trading in the halving space duration. And I also doing my need from my short term trading . I am already holding bitcoin for next halving in 2024 maybe then bitcoin will can touch 100k or more or around it. This is how my plans goes with bitcoin

Falconer

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Quote from: The Cryptovator on September 09, 2022, 02:19:24 PM

No doubt if you hold a long time Bitcoin will give you a good return. But I am not going to hold for 1 million or something like that. I want to increase my portfolio by training Bitcoin. For example, I can sell at a good price. I can take some profit from it and wait for another dip. So I can accumulate more Bitcoin and hold it for a good return. To be honest I am holding for life not for a lifetime so when I need I can sell Bitcoin and use my personal life and I can buy in deep again.

I'm sure it's been done by many people over the years especially if they are not long term bitcoin holders. I like the strategy you have, but at some point you will surely regret that once you sell the price becomes higher. You may have to be patient waiting for another opportunity when the price drops, but I think you must have felt bored when the market continued to increase. I like the accumulation strategy and DCA, it can provide an opportunity to collect a lot of bitcoin also at different prices.

Z-tight

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Honestly i don't have any carved in stone plans for my bitcoin, i would just just do what i think is best when i think the time is right, now i'm more concerned about learning everyday about the technology, accumulating as much as my spare money can afford, spending when i can, and converting to fiat in order to spend when i can't spend bitcoin itself, and holding some for an unspecified long period, i just feel putting a plan on it brings the pressure of trying to create wealth through the network.

The Cryptovator

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No doubt if you hold a long time Bitcoin will give you a good return. But I am not going to hold for 1 million or something like that. I want to increase my portfolio by training Bitcoin. For example, I can sell at a good price. I can take some profit from it and wait for another dip. So I can accumulate more Bitcoin and hold it for a good return. To be honest I am holding for life not for a lifetime so when I need I can sell Bitcoin and use my personal life and I can buy in deep again.

Topic: What is your plan with Bitcoin? - page 7. (Read 2074 times)