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Author Topic: I bought at 19k, now what?  (Read 2085 times)
kcsunshine
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February 06, 2018, 05:19:04 AM
 #1

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
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A.Delaney
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February 06, 2018, 05:20:36 AM
 #2

Hold. You don’t really have a choice.
BenR
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February 06, 2018, 05:22:18 AM
 #3

Make sure you day job is secure, and in the future only invest what you can afford to lose.
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February 06, 2018, 05:22:38 AM
 #4

You shouldnt have bought it on credit. I would personally hold it but I am not your financial advisor.

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February 06, 2018, 05:26:35 AM
 #5

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
Hold on still. Just relax and avoid selling bexause it will just make its market value lower also, you will lose money from your investment. Just patiently wait. It is just that bitcoin at this moment is struggling with its volatility in the market but chances are high that its price will eventually increase.For now, just hold and wait.

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February 06, 2018, 05:29:00 AM
Last edit: February 12, 2018, 02:13:22 PM by Monette2k17
 #6

That's the real thing about bitcoin, you don't know when to go up and when to go down, be wise on investing in bitcoin currency. Undecided

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ccernat
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February 06, 2018, 05:29:17 AM
 #7

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.

Now you can retreat on the porch and proceed to lick your balls like an old dog while the top dogs are having a pool party with champagne and bitches across the street.
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February 06, 2018, 05:30:23 AM
Merited by The Pharmacist (1)
 #8

Unfortunately, people make poor financial decisions and they do not listen to good advice and then they want to complain when things fall apart. A lot of us are constantly telling people not to finance their bitcoin investment with dept. Crypto currency investment is a HIGH risk investment.

What is your monthly instalment on that credit?

If you did not buy bitcoins with credit, I would have suggested this strategy, https://bitcointalk.org/index.php?topic=2878321.msg29569366#msg29569366 but it is even more risky at this stage, because it might put you in deeper trouble if you financed this with debt.

The only thing to do now, if you cannot afford to pay the debt, is to sell say 1 of the coins and to pay the debt with that money. Then you must hope that the price might recover and that the remaining coin or coins will cover the losses.

yishak
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February 06, 2018, 05:32:45 AM
 #9

Hold onto those bitcoins this crazy dip might tale longer to recover so hold. In the meantime you can buy more bitcoins (buy what you can afford to lose) to try to make up for your previous mistake.
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February 06, 2018, 05:34:01 AM
Last edit: February 06, 2018, 05:59:07 AM by ruthbabe
 #10

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.

19K is quite a big money and with that amount, I can surely buy a brand new car here in the Philippines. Well, I think the best thing you should do before diving in is for you to take some time to accumulate more knowledge about Bitcoin, learn it by heart and understand how it works. Bitcoin's price is so volatile and investing in it is incredibly risky, so if you do invest, you should be ready and expect to lose it all.

Am glad you're not affected by this, https://news.bitcoin.com/british-credit-card-issuers-ban-customers-buying-cryptocurrencies/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications or maybe you're not from Britain or USA (major card companies there were also banning card holders from buying cryptos). Your problem now is how to pay your debt once you lose, so take the advice of @Kakmakr it helps at least.
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February 06, 2018, 05:35:19 AM
 #11

Just hold it and your investing are in good timing because market got crash now this is temporary it will go high soon but you need to wait for that invest also in eth and bnb you can earn in that also i use binance and mercatox as a exchanger because it's already trusted the price of eth and bnb are already drop by now so try to take risk in investing in this altcoins then just hold it and wait for the good timing to sell it.

BenjiSBurke
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February 06, 2018, 05:35:41 AM
 #12

Like everyone else said. Just hold out for now. You can't do anything about it atm. As much as it hurts you'll have to wait, luckily these bear markets are don't last forever. History shows that btc always fluctuates. It's going to be rough but you'll get through it Smiley
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February 06, 2018, 05:35:56 AM
Merited by The Pharmacist (1)
 #13

Hold onto those bitcoins this crazy dip might tale longer to recover so hold. In the meantime you can buy more bitcoins (buy what you can afford to lose) to try to make up for your previous mistake.

Just behold this idiot: OP says he is in deep shit, and the only advice this 16 years old top expert in economics with a fabulous 0.0005 BTC in his wallet can give is to buy more.

That's the spirit boys. That is precisely why BTC will crash. Because you see it as a quick get-rich scheme.
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February 06, 2018, 05:36:58 AM
 #14

To buy bitcoin for the money taken on credit, it was obviously an ill-considered act. Now there is nothing left to do, how to keep your three bitcoins, because selling them at the current rate will bring big losses. However, it seems that bitcoin will recover for a long time, and interest on the loan will have to be paid now. Therefore, it seems that losses are inevitable. It's unfortunate.

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February 06, 2018, 05:38:40 AM
 #15

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
So sad you're not in good track but don't loss your hope, bitcoin will recover soon and for sure you will get some profit from it. Since we are in bloody market,  it is much better if you have to hold it rather than of selling in cheap price. I know you're not the only one suffer just like this, in fact the whole community are in troubled that's why some members are just selling their coins in low price.

Inkdatar
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February 06, 2018, 05:39:20 AM
 #16

You're not the only one who had bought btc at that price. This is the most advise that before you invest think more just invest on what you can afford only. Then aside investing from bitcoin you have passive income that atleast you have earnings weekly or monthly. Hence, in this case you can hold because we dont know yet when btc price will be back at $19k or more.


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ganlianshifu1
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February 06, 2018, 05:42:21 AM
 #17

I suggest you Hold on!

Although the price is now falling, you bought three BTC for $19,000.

The price is now $6,600, and your 3 BTC is not getting any less!

The price will return to $19,000! Maybe more!

If you sell now, you'll regret it!

ccernat
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February 06, 2018, 05:43:26 AM
 #18

I suggest you Hold on!

Although the price is now falling, you bought three BTC for $19,000.

The price is now $6,600, and your 3 BTC is not getting any less!

The price will return to $19,000! Maybe more!

If you sell now, you'll regret it!

Another top Nigerian expert.
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February 06, 2018, 05:44:04 AM
 #19

Nice step, hold on first, watch out for a positive rise in the market and sell sensibly.
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February 06, 2018, 05:47:14 AM
 #20

Just hold on to it. Or buy some more to average down. Especially if BTC drop into 5K range.
This is how BTC behave, I ride this up and down from ~200ish

I bought 3 btc on credit for 19k about. What should I do? I am way underwater.
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