to buy or not to buy

[Gillette]

The dump may begin any time. So don`t buy BTC with borrowed money!

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[Russtie Beerkan]

if you are buying to spend, that's one thing, cuz what you spend is what you got/get. if your hodling, that's different. i'd not buy right now, but then again, maybe I would if i had the spare bucks. but. I am poor for a few months, christmas coming, kids etc.

[dothebeats]

or wait out the week to see if it goes back down to somewhere between 270-290....


this is gonna be a long night of pondering

You should really ponder on it first before making a move, otherwise if it didn't meet your hopes (of prices going up) you have to pay for the debt that you used on buying bitcoin. You said that you have 7 already, adding one on the stash might not hurt if you can pay it with your own pocket, but from borrowing? I think not a good idea.

[vuduchyld]

I get the feeling that you came to the forum to get some kind of emotional backup for a decision you have already made.  OF COURSE you're going to find somebody HERE of all places that tells you to DO IT.  And that's what you'd like to hear.

I'm a long-term huge bull and a long-term HODLer.  But I'll tell you straight up that the ONLY people here who are making ANY sense are the ones telling you not to buy with borrowed money.  

What's the potential upside on 2 bitcoins that you are maybe buying now and maybe selling later? Couple hundred bucks total round trip?  And what's the potential downside?  $600 in money that you're not paying interest on NOW, but you're paying credit card interest on later?

I say it sounds like you're buying now and selling later, but if that isn't the case, you will almost certainly have opportunities to buy 2 BTC at some point in the future at a lower price than you're seeing now...some time in the future when you will not be borrowing to do so.

Either way, it really makes no sense to borrow on a credit card to buy.  

I mean, if you want to do it, just do it.  But don't do it thinking in ANY way that you're doing anything other than recklessly speculating and timing a market that one really can't time.  

[Raimonn]

I never recommend investing with borrowed money, when you invest you are taking risk if this risk is assumed with money that you don't need isn't a problem. But if you invest with money that you need or worse that you borrowed and your invest goes wrong you will have a big problem.

[jaberwock]

Buy as fast as you can.

The fake pumps of this years had the pattern of slowly climbling to 300, stay one or two days at most at the top, then slowly dump back to 220.

Now that 300 was really broken, I can't see it stop before 400

[Kevin77]

Buy as fast as you can.

The fake pumps of this years had the pattern of slowly climbling to 300, stay one or two days at most at the top, then slowly dump back to 220.

Now that 300 was really broken, I can't see it stop before 400

Yes, it has climbed to $330+ levels right now soon we are going to see $350 and then it may test again $400 levels too. But the speed of this rally just emphasize the dangerous of pumping by a group of people. So, buy and sell in quick profits and buy hold if you can hold for quite long period.

[orpington]

I don't know

[coinplus]

Buy as fast as you can.

The fake pumps of this years had the pattern of slowly climbling to 300, stay one or two days at most at the top, then slowly dump back to 220.

Now that 300 was really broken, I can't see it stop before 400

Yes, it has climbed to $330+ levels right now soon we are going to see $350 and then it may test again $400 levels too. But the speed of this rally just emphasize the dangerous of pumping by a group of people. So, buy and sell in quick profits and buy hold if you can hold for quite long period.

Yes if we can hold for long period then buying at this higher level is good. Other wise we may get struck in the dumping waves. But many people here are expecting the price rally to continue to the next bigger prices like $300 or more levels too.

[Soros Shorts]

You should never invest borrowed money at any price. My opinion.

I think investing borrowed money is far better than using it to buy Christmas gifts.

[MinerHQ]

The dump may begin any time. So don`t buy BTC with borrowed money!

I also think so, now is the time for correction. If it moves further up without correction then very dangerous to survive that high price

[ask]

Sell or go short with max leverage.

[8up]

Sell or go short with max leverage.

Agree. See you at ~300

[ronaldo40]

Borrowing to buy bitcoin? That's pretty risky.

'd advice against it.

Yes, bitcoin can grow, but what if it drops? You'd have to pay back the money, where do you get the money if it drops?

Only invest what you can afford to lose.

certainly all have risks, but I really do that, borrow to buy bitcoin. but I've been lucky to sell it at the price of $350
and I also do not borrow too much and just enough profit

[NeuroticFish]

I wanted to buy at 250. Until I found the best way to do that it went over 300.
Something is fishy. Bitcoin deserves to rise, but this is way too fast.

[cdb000]

Far back in the mists of ancient time, my good lady wife decided to give herself £5000 to buy some Bitcoins.

I thought she was insane, but... she had the money and it wouldn't hurt us that much if it all went horribly wrong.

She traded back and forth for a while, gained a bit, lost a bit, gained a bit and eventually got bored with it and put her Bitcoins in cold storage, all 641 of them.

I now think she is a genius and wish I had bought £5000 worth of coins at the same time.

Bottom line: If you can afford to hold for a longish time, buy some Bitcoins. Use only money that you can afford to do without forever - it may be your children or grandchildren who take the profit.

[MinerHQ]

I wanted to buy at 250. Until I found the best way to do that it went over 300.
Something is fishy. Bitcoin deserves to rise, but this is way too fast.

Thats why good investors always buy small amounts at all price levels. This will reduce the situation like what your facing now. So do not wait some more time start slowly now.

[1Referee]

I wanted to buy at 250. Until I found the best way to do that it went over 300.
Something is fishy. Bitcoin deserves to rise, but this is way too fast.

Thats why good investors always buy small amounts at all price levels. This will reduce the situation like what your facing now. So do not wait some more time start slowly now.

Smart investors have bought when the price was dumped to the ground at $200-$220 You remember how long the price was stuck at around $220-$240? Very long. People who didn't buy back then, when they had plenty of time, are now buying at +$300. That's the difference between people who are constantly doubting, and traders who know what to do and when to buy.

[bitmarket.net]

at the start of the month, with all the bullish news, I was looking at my coinbase account and it's option to fund with credit card....hmmm, I thought, I have this new credit card with no interest for 2 months...hmmm...will I buy 2 more bitcoins? I should, I thought. I could cash out in a few weeks and maybe make an easy hundred euros or two.

I did not. Goddamnit. Could have made an easy 30% gain off of credit.

and now I wonder, is it worth doing that today? any thoughts?

Dont play with borrowed money. It will turn your hands and your mind weak.

That's a good advice.
Missing an opportinity to make money is not fun, but remember it could have also gone the other way.
Don't let this experience cloud your judgement regarding the future, or you will not be making good trading decisions.

[traderbit]

Buying with borrowed money isn't a good idea.
Maybe you can earn from these money but the bad scenario is if you loose.
Then you should look for another opportunity to cover the lost and would be stressful.