Banks are idiots.
They have been doing pretty good in recent years, seems like it. Especially when they get free money without hardly any accountability. And, some of them even charge folks to store their money. Seems like a decent place to be, if your goal is making money.
And we are still poor.
Couldn't be for many of us who have HODLed and accumulated BTC. In that regard, it should be a lot more difficult to lose money, if you have been HODLing and accumulating BTC for a few years, and you've had an account here for almost a year longer than yours truly.
Where is Rosewater btw?
Good question. He's not exactly someone who is willing or able to establish a consistent and ongoing BTC plan that involves long term HODL and accumulating when the price is dropping.. .so given our recent history, he may end up being a kind of lagging indicator, as my three scenario reversal post attempts to describe? NOT that he would want to read my posts that involve possible reversal scenarios.. especially when there seems to be some high level jadedness damages. Maybe we will see him back in then supra $8k arena? Which could take a year or longer to achieve, perhaps?
1) No, they are idiots. You take them out of their squared thinking and they don't know what to do. I offer them free money and they don't take it. Idiots.
Why would they take money from you, when they can get free government subsidized money with less risk?
In other words, you are likely describing a concept of immoral or inhumane or unethical rather than idiots because they may be given too much latitude and have too many opportunities to earn money in other places rather than making loans (as they had done in recent history)
Now I am forced to pay FULL for the tennis court of my new property because they say it's not part of the "home" and don't mortgage that part. Don't you see I do even have the money to pay it in full? Fucking stupid idiots.
Too bad that you are experiencing some of these kinds of extra financial stresses, and I understand that sometimes it can become quite frustrating to find some kind of possible route... so I wonder if there might be ways to get that bank to reconsider their evaluation? or if you were able to get a reasonable and sufficient loan in some other kind of way?
Now I have to use almost all of my fucking life savings because they don't want to make money on it for a fucking technicality.
Sounds a bit stressful. Hopefully, you won't have to dig into much of your BTC stash, but I understand that sometimes to relieve some stresses, the BTC stash might be a portion of a practical solution, perhaps?
Oh, and not to mention I had to use my partner as co-buyer because I don't have much regular income... according to their consideration of "regular". Bleah.
Any potential creditor is going to weigh these various factors.. and probably, there are higher interest loan possibilities from loan sharks, and then a question may be whether you dip into your other resources, such as your BTC stash? Advantages and disadvantages to having co-signers can be the possible co-income, too. and co-strategies that hopefully do not conflict too much with each other.
2) I have always accumulated. Never sold a single Bitcoin. But my first buys in 2013 were not that much significant. And during the bear market I didn't buy much (resumed at end of 2015 until middle of 2017). If I had took some part out of it during the peak I wouldn't say so, but I know I am not the only one... so yes, we are still poor.
You can stick to your guns on this point, but even if some of us might be poor, for a variety of reasons, it still seems that your BTC stash is in decent shape in terms of profitability. So, yeah, there can be ways to say that any of us could hav made a lot more money, but bitcoin itself has given really great returns for any of your purchases through mid 2017.. assuming that even your mid-2017 BTC were less than $3,200... I recall that the first times that BTC went above $3,200 was in August 2017.... So, even if you feel that you did not buy enough BTC, from your description, whatever BTC you did buy are in decent profits territory... which is pretty good, given the relatively extreme correction location we are at this time.
Personally, I don't see anything wrong with shaving off a bit of profits, if your financial situation calls for it, and attempt to buy those back later... even if you have to buy higher. But of course if you can find money from other locations, without going crazy, then that might make you feel better, overall, perhaps?
3) I hope to see him back soon. I really liked the guy.
Could be a while, if ever, given the context of his exit.
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