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521  Economy / Speculation / Re: i'm torn. what would you do? on: March 29, 2013, 05:34:50 AM
This might be real.

Or this might be a speculative bubble.

I can't tell Sad

I have 3 BTC that i bought below 55.

If I sell now, and the price comes crashing down, I could end up with 5, maybe even 6 BTC!

But will it?

I would sell 2, keep 1. Lock in some profits and let the rest ride.
522  Economy / Speculation / Re: When is it not a bubble? on: March 28, 2013, 06:10:34 AM
beginning of a new paradigm

new paradigm


New Paradigm!!!

523  Economy / Speculation / Re: Bubble? Growth? One goat's thoughts on: March 27, 2013, 03:19:50 AM
Absolute minimum floor right now is $50. Even self-confessed bears will be buying at $50 or above.

Nah, I think we could still see single digits easily.
524  Economy / Speculation / Re: If the 75$/bitcoin price was a bubble on: March 25, 2013, 07:39:02 PM

Losing 30% of its value in few hours and than recover means the value is valid, don't you guys think so?

Nope. Huge swings in price that increase as the price gets higher doesn't validate the price, if anything it points to this being a bubble driven by speculation.

I've been warning you guys to be careful since the high 20's...yet I still see people leveraging debt to jump into the market.  Yes there is still a lot of potential upside (hell, I still have a few bucks in the game), but most of you are going to get burned because you are too scared to take profits and are buying into the "new paradigm" hype (ie: 1 BTC will be worth millions of dollars, traditional investment wisdom doesn't apply, etc).
525  Economy / Economics / Re: Why Are Bitcoins Worth $70? on: March 23, 2013, 06:25:49 AM
Don't tell anyone, but precious metals are in a bubble too.... Wink
526  Economy / Goods / Re: Motorcycle of your choice - 3 BTC on: March 23, 2013, 05:59:27 AM
How?  Getting a job? 

Yes, you fucking idiot. Get a job and earn your keep like every other adult. You are not a special and unique snowflake, you are an asshole who steals from people who trust you. Fucking A, man, grow up.
527  Economy / Economics / Re: Why Are Bitcoins Worth $70? on: March 23, 2013, 05:55:04 AM
...Not a bubble.

Nope, not at all...









..perfectly natural and sustainable growth.     Roll Eyes

528  Economy / Speculation / Re: I am about to do something massivley stupid on: March 23, 2013, 05:45:18 AM

I think at this point (current price) I can pretty much pay off all my student loans and my husband's car as well, but somehow I feel like that would be a stupid thing to do  Tongue

Paying off debt is never a stupid thing to do. Cash out and pay off those loans early. Seriously.

this times 1000. If you cash out now you will forever be a winner. You are already a winner, dont push your luck.

Cash out to pay off debt means I'm at $0. Statements like "paying off debt is never a stupid thing to do" is the type of common sense thing that most of the country (USA) believes. Most of the country also reaches retirement age with savings of under $100k, and are dependent on Social Security or work way into the old age. And the type of stuff I had to make people unlearn when I worked as a personal financial analyst.
Rule #1 - have an emergency savings account (which would be gone if I use it to pay off debt)
Rule #2 - paying into a 4% debt I'd EXACTLY like paying into a 4% investment (seriously, calculate it out). So put your money into whatever has the highest interest, be it debt or investment (based on your risk tolerance).
People think debt is the worst thing ever, and should be gotten rid of first, and it's a really stupid misconception that needs to die, because when you reach 65, with no debts, and nothing but $100,000 to your name, you are most definitely NOT a winner.
Source - my goddamn financial analyst degree and years of experience with a ton of people who do what they think is common sense

You know, I had a whole thing typed up as a response to this, but fuck it...it's less annoying to just move on.  When the bubble pops, I'll be sure to bump this thread... I tried to give you solid advice, but you ignored it with a shitty smug attitude. Enjoy the grinding poverty, man... You deserve it.
529  Economy / Goods / Re: Motorcycle of your choice - 3 BTC on: March 22, 2013, 11:49:17 PM
Dude, go pay squall back the money you stole from him and stop being an insufferable prick.
530  Economy / Speculation / Re: I am about to do something massivley stupid on: March 22, 2013, 11:43:24 PM
No, you're right. Continuing to gamble is always a better option than paying off money you borrowed.  Fuck you for loaning me money to buy a car and get an education, I've got blackjack to pay!!!!!

Not to mention, if you are paying cut-throat rates on your loans, the best option financially is pay them off early to avoid paying a majority of those fees, correct?

Highest loan is 6.75% (student loans)

If i decide to pay off the debt, my one outcome is that I now have no debts, and no money. I have to live paycheck to paycheck, starting my savings account from scratch, even if I get to keep a bit more off every paycheck.

If i decide to keep the coins, I actually have three possible outcomes:
1) Bitcoin price keeps rising considerably - I make minimum payments on the debts, and come out way way way ahead.
2) Bitcoin stays at the rate of my debts, or stabilizes - I continue making minimum payments, and once I pay off my debts, my Bitcoin wealth, though not large, still remains.
3) Bitcoin price plummets - I may be able to sell off whatever coins I can before the value is gone to help pay down the debts, then continue making minimum payments on the debt while having to start building up my savings from scratch.

Now let's see which is the least risky option:
Let's say for some reason I lose a job or hit an economic hardship (get hit by some big expense).
If I have paid off my debt, there is only one outcome: I'm screwed.
If I have held onto my coins, there are three outcomes:
1) I have plenty of money, can still easily pay my debt payments with my BTC, and don't even have to worry
2) I have some money, and maybe should be worried, since my bitcoins may not last too long, but there is enough to cover my debt payments and sustain me.
3) I'm screwed.

So, if I sell, (the supposedly safe thing to do), if I get in trouble, there is one outcome: screwed.
If I don't sell (the supposedly risky, gambling option), there are three outcomes, and in only one of them I'm screwed.

And that, ladies and gentlemen, is why I make the big bucks Cheesy

Your first option is still the best, most financially responsible one. Take that extra money you save from not making monthly payment to loans, save some of it, invest the rest wisely. Congratulations, you now have no debt, but you do have savings, and a retirement fund.  That is a good financial spot to be in.

Of your three other options, not all of them have the same probability of happening.  #3 is more likely than the other two, and is the one the puts you in the worst financial spot possible (debt, no savings, no retirement).  #1 or #2 could happen, but are not likely. Dont buy the hype, this bubble is going to pop eventually.
531  Economy / Economics / Re: Why Are Bitcoins Worth $70? on: March 22, 2013, 11:00:14 PM
They aren't.

This is a speculative bubble, and people are buying them at this rate with the hopes to sell them later at a significant profit.

532  Bitcoin / Bitcoin Discussion / Re: Meme: "Bitcoin user not affected" on: March 22, 2013, 10:56:10 PM
This meme is stupid, and I want to punch that douchey hipster nerd in the face.

That is all.
533  Economy / Goods / Re: Motorcycle of your choice - 3 BTC on: March 22, 2013, 10:17:54 PM
I really don't speak english... is this for real? Huh

You see that big red scammer tag above his name? That should tell you everything you need to know.
534  Economy / Speculation / Re: I am about to do something massivley stupid on: March 22, 2013, 10:10:57 PM
No, you're right. Continuing to gamble is always a better option than paying off money you borrowed.  Fuck you for loaning me money to buy a car and get an education, I've got blackjack to pay!!!!!

Not to mention, if you are paying cut-throat rates on your loans, the best option financially is pay them off early to avoid paying a majority of those fees, correct?
535  Economy / Speculation / Re: I am about to do something massivley stupid on: March 22, 2013, 09:57:02 PM
Yeah, if that investment is GUARANTEED to grow in value more than the interest rate for the entire life of the loan, then yes, you'd be right.

However, no investment vehicle on the planet can make that guarantee, particularly not bitcoin. In reality, this whole thing could crash to pennies tomorrow...the wise financial decision is to pay off outstanding debt early.
536  Economy / Speculation / Re: I am about to do something massivley stupid on: March 22, 2013, 09:23:56 PM

I think at this point (current price) I can pretty much pay off all my student loans and my husband's car as well, but somehow I feel like that would be a stupid thing to do  Tongue

Paying off debt is never a stupid thing to do. Cash out and pay off those loans early. Seriously.
537  Economy / Economics / Re: Things getting interesting once we past $100 on: March 21, 2013, 03:44:34 PM
@deathcode

Alright dude...for the last time. Coinabul. Check 'em out. You should be able to easily figure it out. Or you aren't as clever as some of your comments suggest.

Coinabul has a shitload of scam complaints against them right now. I wouldn't trust them.
538  Economy / Economics / Re: Things getting interesting once we past $100 on: March 19, 2013, 11:36:55 PM
Yeah. Benefit.

As in Fire department, police, military, roads, education, food safety and other consumer protection, social safety net, etc.
539  Economy / Goods / Re: Motorcycle of your choice - 3 BTC on: March 19, 2013, 08:36:00 PM
I see dank has kicked the crazy up a notch in the last few months.....

540  Economy / Speculation / Re: 60! on: March 19, 2013, 03:11:39 PM
Probably.

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