I took out a student loan at a sick APR (non-residents get fucked in the US, because they don't qualify for any federal loans). I lied that it was for tuition and invested it all in Bitcoin. I maxed out all my overdrafts and credit cards before Christmas. I also got a travel stipend for a research trip, which I needed for plane tickets and accommodation for 1 month, and I shorted Bitcoin instead. I even got a little extra "emergency funding" before Christmas, all into Bitcoin -- when they audited me for it last week, I chuckled as I wrote a check for their fiat which was only 10% worth of the Bitcoin that it paid for. I invested all my tax returns (which I made sure to complete on the day they came out (February)
It was stupid and risky, but I didn't give a fuck because it paid off. And I not even a bull, I am long-term cautiously optimistic (at best), medium term bear, short term bull. I had no net worth to my name, I am a poor as fuck grad student, I can barely afford my food month to month, but I went ALL IN. I would say this is "bullish behavior".
If you haven't already, realize at least enough of your gains to pay off that student loan. Student loans are awful. They're the only kind of loan that you can't escape by bankrupty; you can carry a lien for the rest of your life. I know you're bullish, and it's done well for you, but you gotta get that thing off your balance sheet ASAP. Maybe buy some land, too, especially if it's close to a major urban area but hasn't been developed yet.  Land is the other thing where there is only a finite amount of. A big reason that rich people like inflation is because it props their physical assets, like land. With land you could help hedge against a potential bitcoin crash. I'm talking the crash of the 1859 Carrington Solar Flare style... if the solar flare of 1859 hit today, our electric grid (and things that depend upon it, like bitcoin) would be wiped out for months, maybe years. At least if you cash out some btc to buy some land, you'll have a place to go, or even physical assets to sell if you need to. |
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At my current supply of btc (small) I'm personally waiting to sell a bunch if it ever hits $10k ea. I have a mortgage to pay off. If, however, it looks like it'll easily climb through $10k, I'll put in a buy at $10k once it surpasses it, hoping to catch it on the decline, but otherwise will see where it goes.
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103.8 MHz is a radio station …
Is it? I thought radio stations use odd decimals :/ In the US that's true, but I think (don't quote me) that I've seen even numbered decimals in other countries. |
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I just preordered a little SC from Butterfly labs...  That's unfortunate. |
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I'm starting to get irritated because now all I see is the difficulty going up up up from the Avalons, and by the time we get ours, we'll earn like one btc per month. Avalon would have to ship ~ 180,000 units in order for us to only get 1 BTC/month with a BFL SC Single. Well yeah, that's kind of what I'm getting at. A little light humor, but at the current rate of developments...  |
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I'm starting to get irritated because now all I see is the difficulty going up up up from the Avalons, and by the time we get ours, we'll earn like one btc per month. |
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Great news, Wish I had bought more of them back at $2.50!! yeah no kidding. I wasn't quite comfortable with the bitcoin economy at the time - but like the old saying goes, "You snooze, you lose." *sigh* |
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If BFL would allow me, and if the forum participants would pool together enough to cover a half-day or so of salary (which would be roughly $100 - I'm low on PTO and need to save it for kids illnesses), I'd be willing to drive over to their office for whatever kind of proof/evidence y'all are looking to see.
I live in Lawrence, which is half-hour to the outskirts of KC, and about one hour to just about anywhere in KC.
I'm curious about all this myself, since I have a couple products on pre-order.
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Ok a while back I recall someone getting a processing system going wherein you can take cash to a place like Walmart, and buy something that can then be transferred into MtGox or into bitcoins directly or something. Well I ignored it for a while, but now that I'm interested again and can't find this information.
For that matter, anyone else have an easy way to either transfer via ACH, or Credit Card, or cash to a reputable bitcoin exchange?
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Yeah my coworker and I were discussing how awesome it would be if we could allocate part of our 401k into bitcoins. More diversification. |
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So my wife and I argued last night, because I want to try a year of using whatever I would put into a 401k to buy bitcoins instead.
After much debate, she agreed, but do y'all think I'm stupid for doing so? Now obviously there are pros/cons to both. I think bitcoin still has a lot of potential. I was putting 4% into 401k, and my employer matched 50$ of that (for a total of 6% going into 401k). So I'll lose 2%, and it'll be after taxes.
On the other hand, if bitcoins grow like they have over the past year, I'd be retarded not to do it. *sigh*
How many of you have moved away from standard investments into bitcoin? Or I could drop my allocation some (maybe 3%) and then put 1% into bitcoins? MOney is tight at the moment, so I can't add extra... I'm just going to use what already is being taken out.
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This is a could a/should a/would a post, but I've been using bitcoins as trade (for items/services) since I've started and not really been saving on to them. So currently my btc value is slightly over $575 (at time stamp of this post). Had I just kept them all, I'd be sitting at around $16,000 *sigh* But I justify it by saying that I helped the economy by using the coins instead of hoarding them. That is pretty rough.Lost some of mine doing the day trading thing but what I have retained has me smiling when I learned it was just better to hold. true, but without using them, they have no real value and would crash at some point when people realize that. So we gotta use them to help maintain their useful value |
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If you cancel an order, do they send back the original purchase price in bitcoins (so I think back then I spent 13 or so) or do they convert from current value and only send me back like 2 btc? I'm starting to get irritated, and thinking my btc could be working for me now instead of fattening up their pockets with some hardware that was supposed to be here already. </end rant> Sorry, letting my emotions get the best of me as I see btc value climb. |
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This is a could a/should a/would a post, but I've been using bitcoins as trade (for items/services) since I've started and not really been saving on to them. So currently my btc value is slightly over $575 (at time stamp of this post). Had I just kept them all, I'd be sitting at around $16,000 *sigh* But I justify it by saying that I helped the economy by using the coins instead of hoarding them. |
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I'm guessing he cashed a bunch out and then the price kept climbing, so he's hoping to recover "lost" income. Kind of like me *sigh*. I try to convince myself that we were in the early stages and had no idea what was going to happen to the bitcoin economy *sigh* |
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You think you own silver?
Probably you mistake. You own a peice of paper where somebody wrote you own a silver.
Paper costs shit.
Actually I have two one-ounce bars of silver in my possession. I don't buy "shares" or whatever. If I buy gold/silver, I buy actual bullion. I don't have enough bitcoins yet to buy an ounce of gold, but I will as soon as I can. |
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Oh and you can buy silver and gold direct from a couple websites using bitcoin already - that'd be a good thing to help hedge some of your upcoming wealth. |
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So now that there's another "bubble" at full speed, I'm reaching a point where crossing $100 will mean that me as well as others are making some serious money (I'll leave up to you to define what serious money is) My concern now is, what if i want to sell and withdraw the money to my US Bank Account. How do I avoid uncle sam to stick its hand in my cookie jar and takes the tax share? What if I don't report it? What if I transfer small amounts ($1000 at a time ever week or so..) Any accountants in the forum to help me do the laundry?  Try things like buying amazon gift codes and using that to purchase crap that you would normally buy, thereby freeing up your existing money. Like kleenexes, for instance.. who doesn't need kleenexes? Stock up on crap like that. |
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