to buy or not to buy

[talkingleaves]

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?

[1714958607]

1714958607

[zimmah]

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.

[LFC_Bitcoin]

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?

If it's just enough money to buy two bitcoin's then it's not much of a risk.

Do it!

[Dilla]

It's usually advised against to buy with credit if you couldn't otherwise afford it, although the Chinese are going crazy right now with BTC. Do what you feel is best, can you afford to pay it back if you lose all? Just be smart and buy what you can afford. Risk/Reward is something you can only decide. Rub one out and make a smart decision after that.

[Xialla]

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

yes, do it anytime and just wait long enough for decent profit. it is so simple..

[BitcoinNewsMagazine]

Nothin' to it but to do it.

[InvoKing]

Many think bitcoin price could reach 350+$ but the problem consists on:
1- the price may drop at any moment over 30% of its value
2- buying around ~318$ and selling around 350$ is still profitable and everyday passing with an increasing price will make you regretting why you didn't buy before

My advice: do not risk all your money if you plan to buy btc to avoid a major loss just in case

[richardsNY]

I am a longterm holder. If I didn't buy already at previous lower price levels, I would most likely do it right now. I'm not going to wait for the price to go down a few bucks since it doesn't matter for longterm holders.

[600watt]

when in doubt about the right timing, just invest half now and the other half at a later point.
this decision is only half as hard...

[Wexlike]

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.

[gentlemand]

when in doubt about the right timing, just invest half now and the other half at a later point.
this decision is only half as hard...

I think this is the correct answer. It could carry on with a powerful climb or sag back to its old and tired ways. The fact that the OP is thinking this way is a small signal that perhaps it's already overheating? Or maybe it's just got started. Don't listen to anything I have to say.

[TQMA]

Talkingleaves, trust your instincts, not the charts.

I also hold BTC for longterm.  

[Morecoin Freeman]

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

[Mickeyb]

I really don't know what to tell you. I am looking at the price right now and I am wondering will this be as other rises this year? Will we drop like a rock in the next few days?

All of the good news in the last 10 days are telling me that this is ream this time. All of the previous dumps, especially this year are scaring me.

I would say about 65% this is a real deal and 35% we will drop. Then again, trend has to reverse one day, so maybe this day has come.

It's your decision! Whatever you decide, good luck to you!

[Junko]

I say go for it! Ride or Die! You only live once.

LOL, but then again, I'm not the one who has to pay the piper if it all goes sour for you. 

[traderbit]

I have a feeling that if you buy them,
The price will get dropped lol, if you can afford start with one bitcoin.
If you win ok, but if you loose you will loose less, i think that the price is going only to rise even though there are some drops.

[talkingleaves]

all decent input, thanks guys.

gentlemand, as stated, the reason I'm thinking this way is because I was thinking this way at the start of october when it was $235, envisioning a touch on $300 by months end...and I'm kicking myself with the hindsight that my instincts a month ago should have been acted on.

but maybe just one more BTC....

wexlike: good advice, where were you when I was 22? i'm in lots of debt to the bank for a failed business from several years ago. debt doesn't scare me anymore, and I do have a steady job now. small amounts of credit like 2 bitcoin on a credit card seem like nothing compared to the 40k euros I owe the bank

but yeah I can also imagine the scenario of it dropping to 250 next week, I'd kick myself over a loss equivalent to a day or two's wage. BUT WHAT IF IT DOESNT GO BACK DOWN haha

I have the same feeling of hope and wonderment I had back in january-march '13 before the spike to 266...but I had no money back then


As of today I hold 7 bitcoins. I'd love to add 2 more before we see some moon action again. I may take 600watt's advice and invest half for a single coin.

[talkingleaves]

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

[BitcoinNewsMagazine]

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

If you believe bitcoin has entered a bull market you can always dollar cost average, or wait for a down day on strong volume and buy when others are selling to get the best price. I hope we do not see 270-290 again but can't rule that out, bitcoin is volatile no doubt.

[Wexlike]

wexlike: good advice, where were you when I was 22? i'm in lots of debt to the bank for a failed business from several years ago. debt doesn't scare me anymore, and I do have a steady job now. small amounts of credit like 2 bitcoin on a credit card seem like nothing compared to the 40k euros I owe the bank

You are willing to take a risk. I really like that, i wouldnt have the balls to borrow 40k euros. But I really strongly discourage you to buy a very risky investment like bitcoins with money that you cant really afford to lose. You are almost the prime target for someone who is selling the bag of a promising investment. The moment you buy the tide turns and you are confronted with a downturn and pain in your head because you have to pay back the money at some point AND your investment is losing in value. And then you sell low, while i buy back with profit. (Sold at 317; i will buy back with a loss if we rise higher (420+))

If you can't afford 500 euros now from your own pocket, don't buy them. You would make a prime mistake.

Nevertheless, if you really buy some coins, then please make a plan with a tight stoploss.