Bitcoin vs Mortgage

[xPPx]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

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[jubalix]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

they reckon 10% spent of your wealth has not so much of an effect.

That said, let all the money printing evaporate the value of your 50K to 5K.

[HeRetiK]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

The sane decision would be to get rid of your mortgage. After all you made a good profit either way.

Nonetheless I'm convinced that BTC still has a great future ahead, so I'd probably try to find a middle ground by selling only part of my coins. For what it's worth keeping even just 1 or 2 BTC may be worth a little fortune at one point.

Either way, you gotta figure out what works best for you, both financially and mentally. If you're financially stable and know that you can handle another 50% drop without feeling the urge to panic sell, hodling may be preferable. If you're just barely able to pay your mortgage and even the thought of the next drop makes you uneasy you should probably sell some.

[aardvark15]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

I wouldn't sell in a dip even though you have made a good profit. I'd wait for the price to get back to $5000. Even then I wouldn't sell all my Bitcoins. You might consider holding half and cashing in half.

It also depends on how much time is left on your loan, the interest rate you are paying, and your financial situation. But I don't think there is anything wrong with cashing in big gains especially if you are putting the money toward a loan that is costing you interest.

[unholycactus]

Doubt you should be paying the minimum regardless of the payment option.
Have you looked at other ways to pay off sensibly without getting rid of your coins?

[xPPx]

I'm retired and made weekly payments for years. Was $250K in 2011? Now $500 mortgage payment monthly. I'm not a math guru and was basically trying to decide whether to pay 15BTC once, or $500/month. I just feel in my heart that 15BTC is really $150K to $1.5M. If I had USD instead of BTC I would've paid it off ASAP, but BTC is worth WAY more than $3,500/coin IMHO. Thanks in advance, guys!

[HotCold]

Pay it off slightly faster. Maybe double what you pay monthly or so. Remember that your house is a physical asset that you own and is more stable than BTC will ever be. Everyone needs a house but not everyone needs BTC. Invest in tangible wealth before speculating.

[maokoto]

I'm retired and made weekly payments for years. Was $250K in 2011? Now $500 mortgage payment monthly. I'm not a math guru and was basically trying to decide whether to pay 15BTC once, or $500/month. I just feel in my heart that 15BTC is really $150K to $1.5M. If I had USD instead of BTC I would've paid it off ASAP, but BTC is worth WAY more than $3,500/coin IMHO. Thanks in advance, guys!

Seems to me that you value being free of debt more than being rich. So do I. My vote is for you to pay your debt, I think you will have more piece of mind that way. Even in the case Bitcoin skyrockets, you'll likely to say to yourself "but I am free of debt now".

The peace you receive from being free of debt greatly surpasses the anxiety of ...."Will Bitcoin grow?..." and then when it grows "Should I pay my debt now?" and then when it goes down... "Should I have paid my debt?".

Besides, you have more Bitcoin, and you can buy 500$ of BTC monthly from the position of being free of the mortgage. You'll have control.

And, just in case you are a believer, consider Romans 13:7-8.

Hope it helps

[neurotypical]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

Don't make the mistake of selling BTC, specially at such a low entry point. At $250/coin you can take a lot of punishment and still be safe in the profit zone so you shouldn't panic sell. Forget about this money and look 5 years from now, then forget 5 more years and then you will be retiring.

Wageslaving sucks but you owe that money, keep paying it with your wage, if you dump your BTC then you will not have the realistic hope of getting rich in the next decade. You got to have some investments in your portfolio for the long term.

[Bitcoinaire]

Pay off the mortgage in 2020 using 1 bitcoin.

[aardvark15]

I'm retired and made weekly payments for years. Was $250K in 2011? Now $500 mortgage payment monthly. I'm not a math guru and was basically trying to decide whether to pay 15BTC once, or $500/month. I just feel in my heart that 15BTC is really $150K to $1.5M. If I had USD instead of BTC I would've paid it off ASAP, but BTC is worth WAY more than $3,500/coin IMHO. Thanks in advance, guys!

If you're only paying $500 per month for your mortgage payment, I would just keep paying that since it is so low. There is potential for Bitcoin to do great things in the next few years even though it is very unknown. The good thing is that you aren't paying much for that mortgage and you don't have a large balance left.

Your Bitcoins could make you very wealthy in the future if you just hold and see what happens. There's really no right or wrong answer. Like I said before, whatever you decide, I still recommend that you don't sell all of your Bitcoins now so you can have a chance to make some big profits later as Bitcoin grows and develops as a more mainstream currency.

[leopard2]

how much taxes and social security would you lose, when cashing out 50k?

it may be better to cash out smaller amounts and use them for extra payments against the principal, if you can save on taxes and/or social security that way

I don't know where you are but in the US, it is 15% cap. gains and in Europe, up to 50% in taxes and social security if you cash out 50k in a year.

Don't feed the parasites 

[Lancusters]

I'm retired and made weekly payments for years. Was $250K in 2011? Now $500 mortgage payment monthly. I'm not a math guru and was basically trying to decide whether to pay 15BTC once, or $500/month. I just feel in my heart that 15BTC is really $150K to $1.5M. If I had USD instead of BTC I would've paid it off ASAP, but BTC is worth WAY more than $3,500/coin IMHO. Thanks in advance, guys!

All crypto currency profitable in the short term. No one will give you the assurance that it always will be. The price of crypto currency is not very stable and you can not only lose their investments, but remain without shelter. I think what you need first and foremost to service its debts. The money you can always earn it later.

[bitbunnny]

If I were you I would definetely try to get rid of the mortgage. Bitcoins can enable that for use and I think you can't spend them any better but maybe you could make more payments, not just one big because that coud attract the attention of tax authorities. But the sooner younget rid of the bank, the better for you.

[randythered]

If you believe in bitcoin then hold on to it and don't pay off that mortgage yet. You could probably pay off the mortgage monthly just by cashing out the growth in value of your coins. Then at the end of your mortgage you will still have your shiny bitcoins and won't have spent from any other forms of income you have.

[n0ne]

Even after throwing the 15btc to settle the mortgage, if you are comfortable with your living then it's good to go for it. This gives an satisfied and relaxed living rather than an eye focused on making an effort to settle. It depends on the user necessity and the living sophistication.

[oblox]

Yes, at less than 20% of your holdings after the impressive run, do it. There is only going to be more drama with China and Segwit2x in the next couple months. Use the money you save on the mortgage payment to buy back your coins on a pullback. You still have over 80% exposure. As long as you factored in the tax aspect of things, seems like a good point to do so.

[stompix]

I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!

Don't make the mistake of selling BTC, specially at such a low entry point. At $250/coin you can take a lot of punishment and still be safe in the profit zone so you shouldn't panic sell. Forget about this money and look 5 years from now, then forget 5 more years and then you will be retiring.

Wageslaving sucks but you owe that money, keep paying it with your wage, if you dump your BTC then you will not have the realistic hope of getting rich in the next decade. You got to have some investments in your portfolio for the long term.

Read what the guy is posting:

I'm retired and made weekly payments for years.

He is already retired. You want him to wait for 5 years and then another 5 years?
I don't want to sound that grim but the reality is he might not be able to wait another 10 years for anything.

[freedomsr40]

I'm more or less in the same situation as in yours, but I consider the mortgage the cheap credit I get to buy BTC. So I'm still having my mortgage now...

But I will definitive pay it off when it took 5% of my total holdings to do so; 20% is still a bit much, my personal opinion.

[northypole]

Pay off the mortgage in 2020 using 1 bitcoin.

Bitcoinaire, I couldn't agree more with you