Do you have bitcoin AND debt?

[gentlemand]

This is something I'm rather curious about. How many people here own coins but have plenty of debt too?

I'm not talking mortgages, you get somewhere to live and a free house at the end of it so that's very handy, but rather loans and credit to service as well as owning some Bitcoin.

If so, have you locked it away with the intention of never touching it no matter what happens or have you had to dip in to pay off some debt?

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[The Sceptical Chymist]

I have some debt to the IRS which I do plan to pay off before I die.  No other debt.  Student loans all are paid off and I have no credit cards.

Don't own much bitcoin at all.  I'm still waiting to see how this all plays out.

[Betwrong]

This is something I'm rather curious about. How many people here own coins but have plenty of debt too?

I'm not talking mortgages, you get somewhere to live and a free house at the end of it so that's very handy, but rather loans and credit to service as well as owning some Bitcoin.

If so, have you locked it away with the intention of never touching it no matter what happens or have you had to dip in to pay off some debt?

IMO if you have a debt you should pay it as soon as you can. So locking your coins to never tuch them and having a debt at the same time I think is not a good idea. I sold 0.5 BTC once to pay my debt and from that time I'm trying to live without debts no matter what happens.

[gentlemand]

IMO if you have a debt you should pay it as soon as you can. So locking your coins to never tuch them and having a debt at the same time I think is not a good idea. I sold 0.5 BTC once to pay my debt and from that time I'm trying to live without debts no matter what happens.

Depends on how pressing the debt is. Paying a debt off with a (theoretically) deflationary currency is a bad idea if you can avoid it.

Some people spend their entire lives up to their eyebrows in debt and don't seem to care at all. I'm allergic to it myself.

[yayayo]

I consider myself very privileged to be able to say that I have no debt. I don't earn much and I don't own much, but I'm really proud that I managed to stay free of debt.

Debt is one of the biggest enemies of freedom. So I think before considering to invest in Bitcoin it is highly advisable to get rid of one's debt. Generally owing something is subject to interest payments, so you are under constant pressure to pay certain amounts, otherwise the amount of debt will increase. So debt carries a negative value proposition that counteracts any investment activity.

ya.ya.yo!

[outatime1]

Yes I have a lot of credit card debt. The bitcoins I own would not pay for all of my debts. That's one reason I am investing in it. I want to make some money so I can pay the debts off.

[clickerz]

I consider myself very privileged to be able to say that I have no debt. I don't earn much and I don't own much, but I'm really proud that I managed to stay free of debt.

Debt is one of the biggest enemies of freedom. So I think before considering to invest in Bitcoin it is highly advisable to get rid of one's debt. Generally owing something is subject to interest payments, so you are under constant pressure to pay certain amounts, otherwise the amount of debt will increase. So debt carries a negative value proposition that counteracts any investment activity.

ya.ya.yo!

Debt?I already pay my debt also and If theres remaining, I think it is from my family members. Debt is a tool that can control us and I like your message : "
Debt is one of the biggest enemies of freedom." Indeed you are not free if you have debt as the lender has control over you.It gives stress and if its from credit card,it gets compounded if you forgot or missed the payment schedule.

[Zadicar]

We do only have debts because of either emergency situations, that's why we do have debts and we can't avoid it. Well that's reality, the only thing we do keep in our minds that if we have debts we must pay it on time so that we can borrow again. Speaking on Bitcoin I do invest my coin so I can gain profit and pay off gradually my debts.

[7788bitcoin]

I do have mortgage to pay although I might have sufficient amount to repay all- just want to keep some cash to survive the daily expenses. The amount of bitcoin I have is definitely something that I can afford to lose...

Although I am dreaming of financial freedom when bitcoin reach moon, I still need to wake up and consider day-to-day expenses at the present moment.

[jacee]

I already repaid all my debts. I don't like having the and keep myself on paying it too long so I force myself to pay them all at once I gather enough money to repay it. Saving money is much easier when I have no debt to be worried of.

[tobacco123]

My debts are long term commitments and bitcoin is something that I am interested in following and understanding more. I am holding a small amount of bitcoin and hopeful that will be sufficient to help me pay off some of my house and car loans....

[groll]

This is something I'm rather curious about. How many people here own coins but have plenty of debt too?

I'm not talking mortgages, you get somewhere to live and a free house at the end of it so that's very handy, but rather loans and credit to service as well as owning some Bitcoin.

If so, have you locked it away with the intention of never touching it no matter what happens or have you had to dip in to pay off some debt?

Well I own some bitcoin and have some plenty of debt too. My salary in real life has gone 50% less due to payment to debts and loans. In short I am financially short but to catch my shortages I am selling 80% of my bitcoins that i have earned online from online jobs, gambling and other investments. The best thing is few more payments and I am  off with my loans and even though in small amount I am continuing to save my coins for the future.

[Kwiksave]

I have bitcoin and no fiat debt. I have some shares which I bought with the fiat.   I hold the bitcoin now.

[Bepesand]

I own bitcoin and have some fiat debt. The fiat debt will be inflated away in the next few decades.

[randy8777]

i can happily say that i have no debts. everything that i buy is bought with money that i have. my main rule in life is: if you don't have the money to buy something, then don't buy it. with this i mean that i will never borrow money in order to buy something. very simple

[Taki]

I don't have any debts and I'm trying to stay away from it. My brain just can relax if I know that I have a debt. Everything I buy I buy with money I have if I don't have money -I don't buy. The strategy seems simple. Only one thing I plan allow myself to buy with debts is a house, it's my dream and it needs lot of money, but I'm sure that I will be able to cover that debt for house simply, fast and without delays.

[European Central Bank]

i can happily say that i have no debts. everything that i buy is bought with money that i have. my main rule in life is: if you don't have the money to buy something, then don't buy it. with this i mean that i will never borrow money in order to buy something. very simple

that's a great way to be. I don't get a lot of attitudes to spending. I know a guy who's been bankrupt three times. it's not because of rent or food, that I could understand, it's down to buying massive amounts of total junk.

a few weeks after his latest bankruptcy he turned up showing off some new jeans that had some weird painting all over them. he'd spent about $250 on them and seemed very pleased even though his life was a disaster area again. some people are beyond hope.

I like buying stuff but I only buy stuff that maintains some value and can be sold quickly if I need the money.

[BitcoinHodler]

Some people spend their entire lives up to their eyebrows in debt and don't seem to care at all. I'm allergic to it myself.

exactly this. i hate it too.
i can't stand being in debt to someone (or a bank) myself especially if they are adding a big profit to what i have to pay back.
that is why i only have some student loans left and that is only because that money doesn't have profit on it, it is the same amount that i have taken now i am paying the same amount back over the years.

[Tanic]

I do not understand your question good enough. I have some bitcoins and have debs, but in holding my bitcoins with expectation that the price for it go up and in this case maybe I will withdraw it to cover some of my debs. For now I'm covering it good enough with money that I get from my work.

[Nimbulan]

I have bitcoin and no fiat debt. I have some shares which I bought with the fiat.   I hold the bitcoin now.

i also own some bitcoins at the moment, i think it is the best currency that has ever been invented, besides thaat i do not have a debt thankfully