Thanks to BTC & LTC My House is about to be 1/2 paid for

[mem]

So only 4 years into a 30 year house loan of ~0.5 million AUD and thanks to buying bitcoins at $5 and lower several years ago (and some well timed buy&sells recently) Im in a position to settle 1/2 the biggest debt I will have in my life.

So Im in a slow process of dumping chunks of btc & ltc on the market with my goal in sight.
Im currently 35% there, which is already enough to make a sizeable difference on my monthly loan repayments

I was holding out for the magic $1'000'000 but then I realized I wouldnt know what to do with it, my only goal in this life is to build some security for myself and my family which thanks to bitcoin I now can. Should anything happen to me health wise, my Fiancee does not have to worry about where she will be living anymore or if she can afford the bills.

So I will most likely end up selling 1/2 to 1/3rd of my holdings to achieve this, currently im far ahead of schedule and hoping to afford a nice holiday after refinancing the house

One thing I have come to appreciate from doing this is market depth, when your looking to sell 500-800 btc you soon appreciate it a lot more than when you were trading with 1-10 btc

[Cranky4u]

Congrats fellow Aussie, I am sooooo jealous.

I discovered BTC in mid 2012 yet still hope to continue this wild ride with similair results over the next few years. What do you think BTCs will rise to in the next 12 months given the EU meltdown?

[BIGMERVE]

So only 4 years into a 30 year house loan of ~0.5 million AUD and thanks to buying bitcoins at $5 and lower several years ago (and some well timed buy&sells recently) Im in a position to settle 1/2 the biggest debt I will have in my life.

So Im in a slow process of dumping chunks of btc & ltc on the market with my goal in sight.
Im currently 35% there, which is already enough to make a sizeable difference on my monthly loan repayments

I was holding out for the magic $1'000'000 but then I realized I wouldnt know what to do with it, my only goal in this life is to build some security for myself and my family which thanks to bitcoin I now can. Should anything happen to me health wise, my Fiancee does not have to worry about where she will be living anymore or if she can afford the bills.

So I will most likely end up selling 1/2 to 1/3rd of my holdings to achieve this, currently im far ahead of schedule and hoping to afford a nice holiday after refinancing the house

One thing I have come to appreciate from doing this is market depth, when your looking to sell 500-800 btc you soon appreciate it a lot more than when you were trading with 1-10 btc

Congratulations. And it is smart of you to cash some out instead of trying to get greedy and wait too long.

[shibaji]

Congrats! It is always nice to know about usefulness of btc with some tangible value. Very cool! May be write a story here about how you got introduced to btc and all, and it would be an interesting read.

[optimator]

Congratulations. And it is smart of you to cash some out instead of trying to get greedy and wait too long.

I agree! Either way - If bitcoin goes to the moon or crashes and burns, you might have said..."If I only..."

But of course, you don't know now. Well played, sir!

[mem]

Congrats! It is always nice to know about usefulness of btc with some tangible value. Very cool! May be write a story here about how you got introduced to btc and all, and it would be an interesting read.

Good Idea, Im 34% of the way right now, once I hit 100% or close enough I shall write up a decent post covering my little journey.

Its funny to think back, Ive been a fan of bitcoin at least a year longer than I have been an investor, It took a year of watching it before I decided I finally wanted in. I remember watching it crash from $30 and finally deciding to buy in @ ~$5 nearly a year later

I will still have a reasonable stake in bitcoin after I finish this, one that I would be more comfortable losing

[mem]

Congrats fellow Aussie, I am sooooo jealous.

Beers are on me mate after the settlement

I discovered BTC in mid 2012 yet still hope to continue this wild ride with similair results over the next few years. What do you think BTCs will rise to in the next 12 months given the EU meltdown?

It really is hard to predict, personally I wouldnt be surprised to see it hit ~$20 or $200 again
However I do predict the next spike to be incredible, $500-$1000 easily before a crazy correction period again.

Congratulations. And it is smart of you to cash some out instead of trying to get greedy and wait too long.

Thanks Merve and yes, I saw the wild ride up to ~$265 and missed that small window of opportunity due to being busy with renovations that night.
I managed to sell about 50 btc then and rebought after the crash @ $55

The crash  really put things in perspective for me, I realized I had (and would have again) the chance to reduce the biggest debt I will ever have in my life while Im still young and I decided "its time". What really swung the decision was the realization that settling 50-70% of this debt would give me an extra $1500-$2000 a month to spend..... on bitcoins

I realized Id be quite happy rebuying at any future lows and having the extra available cash

[odolvlobo]

Hang on. Interest rates are very low right now. Paying off your mortgage is probably not the best plan with interest rates so low. If bitcoins are your only investment, then perhaps you could sell some to make some less risky investments, instead. It is true that paying off your mortgage early lowers risk, but it is an extreme step when your interest rate is so low.

[Seal]

Congrats, where abouts in Aussie are you? Housing here is soooo expensive!

Out of curiosity, how do you get your money back to AUD as there aren't many AUD brokers here anymore, they all keep getting shut down?

[mem]

Congrats, where abouts in Aussie are you? Housing here is soooo expensive!

Out of curiosity, how do you get your money back to AUD as there aren't many AUD brokers here anymore, they all keep getting shut down?

Perth WA, the most isolated shithole capital city in the world

For amounts under $1000 I always had plenty of friends willing to buy MTGOX/ BTCE codes off me
For the larger amounts I will be trying both okpay and direct deposit to my AUD bank account which mtgox supports.
To be safe Im doing a 30 (USD)/70 (AUD) split so I have plenty of options available.

Hang on. Interest rates are very low right now. Paying off your mortgage is probably not the best plan with interest rates so low. If bitcoins are your only investment, then perhaps you could sell some to make some less risky investments, instead. It is true that paying off your mortgage early lowers risk, but it is an extreme step when your interest rate is so low.

Im with Keystart if you are familiar with them, the cunts are currently charging higher than what the federal reserve bank advises - basically keystart is turning from a good govt initiative to a money grabbing institution. So I'll be happy to leave them anyway.

That being said, I welcome advice for other investment opportunities, I wouldn't mind owning some silver and gold but I need to research more first.

[SRoulette]

So your a bitcoin Thousandaire ? congratulations.

Nice to see some contributing members of the community get a nice well deserved kick back.

[Lethn]

Grats! What's interesting for me is this is exactly the kind of thing I calculated would happen with a deflationary currency so I'm glad to see some RL examples coming along finally, I expect to see more people buying houses without even needing a mortgage soon enough, hope things carry on like this for you.

[Bitsaurus]

Hope to be able to do this someday. Thousandaire!

[Seal]

Perth WA, the most isolated shithole capital city in the world

HAHAHAHAHAHA, spoken like a true aussie.

good govt initiative to a money grabbing institution. So I'll be happy to leave them anyway.

Isnt that the whole of australia in general? This entire country is just one big rip-off! $3 bucks for a bottle of water, whats that all about!?

[dakiller]

Fellow aussie out east.  

With the small investments I've made, I'm aiming to get a nice house deposit out of the few $k I put in 2 years ago. Still got a bit more holding to do. No rush on my part, my girlfriend already bought the first house herself, the next one will be mine in a few years time.

[1m1nd]

Congrats, where abouts in Aussie are you? Housing here is soooo expensive!

Out of curiosity, how do you get your money back to AUD as there aren't many AUD brokers here anymore, they all keep getting shut down?

Perth WA, the most isolated shithole capital city in the world

For amounts under $1000 I always had plenty of friends willing to buy MTGOX/ BTCE codes off me
For the larger amounts I will be trying both okpay and direct deposit to my AUD bank account which mtgox supports.
To be safe Im doing a 30 (USD)/70 (AUD) split so I have plenty of options available.

Hang on. Interest rates are very low right now. Paying off your mortgage is probably not the best plan with interest rates so low. If bitcoins are your only investment, then perhaps you could sell some to make some less risky investments, instead. It is true that paying off your mortgage early lowers risk, but it is an extreme step when your interest rate is so low.

Im with Keystart if you are familiar with them, the cunts are currently charging higher than what the federal reserve bank advises - basically keystart is turning from a good govt initiative to a money grabbing institution. So I'll be happy to leave them anyway.

That being said, I welcome advice for other investment opportunities, I wouldn't mind owning some silver and gold but I need to research more first.

With large sums of money (around or above $100k) and not much experience, you would most likely be better off finding a legitimate irl broker or financial management service. The fees are usually reasonable (actually quite cheap imo for expert financial management that you can be involved in as little or as much as you want). They can build a risk managed and diverse portfolio covering all sorts of markets that can give you an income as well as growing value. You will probably never see the kind of returns (or level of risk) than we see with bitcoin though.

The time to invest in silver was 20 years ago, imo.

Congrats btw  

[mem]

Whoo, my mtgox account is unlocked - I can continue my journey

Unfortunately my orders were not frozen when I first requested the OTP to be unlinked, but perhaps 24h - 48h later.



Absolutely thrilled with that fluke of a rebuy, could not have gone better if I was sitting in front of the screen myself