RodeoX
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The revolution will be monetized!
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December 04, 2013, 03:45:23 PM |
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Bad idea. Just buy a little each week, like a retirement account.
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Even if you use Bitcoin through Tor, the way transactions are handled by the network makes anonymity difficult to achieve. Do not expect your transactions to be anonymous unless you really know what you're doing.
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PenAndPaper
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December 04, 2013, 04:09:38 PM |
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I couldn't care less if a BTC is ever used in a point of sale transaction. There are many investors like myself who only see it as a store of value to be cashed in/out at exchanges.
+1337 Yeah people keep talking about various psychologic barriers like 1000$ or the value of gold but noone talks about the real barrier for the geeky community that is bitcoin
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vokain
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December 05, 2013, 03:46:23 AM |
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went on with it, let's see how it goes!
so excited!!
be prepared if you go in the red when this happened to me I bought more.
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pinacolada
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December 05, 2013, 05:17:26 AM |
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Bitcoin doesn't go down in price over longterm, this is a fact. With this fact I can deduce that it will never go longterm below $1000 anymore. It's simple really.
You mean induce...because you've only made a prediction. Your analysis only suggests that it is possible that your claim is cogent. Actually, what you mean to state is that from prior patterns, Bitcoin probably won't go down in the long term. The best course of action for you to take is to only invest what you can afford to lose.
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gla22
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December 05, 2013, 06:46:55 AM |
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i do not know that it is in bubble mode. bubbles are fragile structures inflated by a force which, once withdrawn, results in the collapse of the structure. forces implying a higher bitcoin price are increasing, not decreasing, and show no signs of being near the limits of their increase. bubbles are not supported by the rationally discounted future fair value or cash flows. the price of bitcoin is more than supported by its rationally discounted future fair value.
the only way you could infer that bitcoin was in a bubble would be if you were convinced that its future fair value, after discounting for risk-free rates and the error distribution attributed to your future value estimate, was insufficient to support current price levels. you might be convinced of this by established fact and sound reasoning (necessary or probabilistic), or you might be convinced of this by "intution" or "peer-pressure" or "a skeptical disposition" or sunk cost fallacies, normality bias, etc. if you have established facts and sound reasoning which leads you to such skepticism, please do share them. no one can anticipate all unknown facts or creative proofs, and no one wants to be deluded by their ignorance or lack of time to explore the full space of inference. if you do not, then please reconsider your convictions - and especially please reconsider whether you should be spreading fallacious or delusional ideation.
First off your bolded statement is nonsensical. Bitcoin is not an investment that "generates future cash flows". Bitcoin is most like a commodity with some intrinsic value but is also highly speculated in (similar to gold). However it differs from traditional commodities mainly in that there is rapid growth in how many people are learning about bit coin and adopting it. What is driving the price up is: New users who are using bitcoin for its intrinsic value Speculators When the growth of new users stalls there will be some sort of crash. I will post an in depth article on this soon.
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DaRude
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In order to dump coins one must have coins
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December 07, 2013, 07:45:47 AM |
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Don't just assume that BTC will go to the moon and which Ferrari you'll buy first. Play out BTC crashing 50% and bank calling your loan scenario. Will you loose your collateral? Your house, your car, your credit history? Will you get a second job to try and salvage what you can? Or you can always double down and dig deeper into the hole. Borrow from another bank at even higher % to pay the first one. Borrow from your friends/family? Work the corner or try to sell your drugs? Sorry to be a downer but there's a reason why no sane financial adviser would recommend taking a loan to finance an investment that you have no control over. But ignore all that and let's just concentrate on Ferraris Lambos and those huge mansions
Just wanted to revisit this thread to say that i hope that non of you actually took out loans to buy BTC and for this to stay on top for others who would ever consider to take a loan to invest in speculative vehicles like BTC in the future!
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"Feeeeed me Roger!" -Bcash
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DaRude
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In order to dump coins one must have coins
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December 07, 2013, 07:48:50 AM |
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went on with it, let's see how it goes!
so excited!!
Guess it's too late, keep us updated on the terms and period and how it'll work out with your personal life, if nothing else can be a lesson to others
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"Feeeeed me Roger!" -Bcash
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Habeler876
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December 07, 2013, 08:00:31 AM |
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ouch, looking at the timing of this....
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GameKyuubi
Sr. Member
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Merit: 1413
DTCxNMC
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December 07, 2013, 08:33:53 AM |
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Just wanted to revisit this thread to say that i hope that non of you actually took out loans to buy BTC and for this to stay on top for others who would ever consider to take a loan to invest in speculative vehicles like BTC in the future!
Right. NOW is the time to take out the loan~!
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BTC: 15SLrNo6PKVfsH5JLtatJcVkSQXCk1LXyq full stack Node
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derekleong75
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December 07, 2013, 08:53:28 AM |
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One more piece of advice, son. Never bet more than what you can afford to lose. In all my life, I've never believed in free lunches. You lose something every time you gain.
Tread with care. :-)
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PenAndPaper
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December 07, 2013, 06:29:45 PM |
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I hate to do that but i told you so. (Like so many others around with common sense)
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derpinheimer
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December 07, 2013, 06:38:10 PM |
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If serious, the timing could not have been worse. It crashed the night of the 4th.. at least, in CST.
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vokain
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December 07, 2013, 06:41:43 PM Last edit: December 09, 2013, 06:46:46 AM by vokain |
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Signing a loan, receiving the money, wiring said money to an exchange and deciding on an entry point(s) takes time guys. Honestly, to me, wopwop's timing couldn't have been more perfect.
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kireinaha
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December 16, 2013, 08:46:51 PM |
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Hopefully OP hasn't used his loan to buy into the market yet. I would advise giving it a little more time to see where the dust settles on this current market correction.
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Night gathers, and now my bitcoinwisdom watch begins.
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Oldminer
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December 17, 2013, 01:46:32 AM |
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Hopefully OP hasn't used his loan to buy into the market yet. I would advise giving it a little more time to see where the dust settles on this current market correction.
I suspect he has, however thats not such a bad thing depending on the term of the loan. I suspect it would be at least a 6-12 mth loan, so sure he has paid more for BTC than he could have however Im sure he'll make more than enough to pay the loan back with interest & a nice profit to boot by the time the contract ends.
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Dabs
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The Concierge of Crypto
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December 17, 2013, 01:57:22 AM |
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My own loan is coming in any time soon. heheheheh.... what to do what to do... BTC taking a dive.
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azedee
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December 17, 2013, 11:20:13 AM Last edit: December 17, 2013, 11:39:37 AM by azedee |
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I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate
Did anyone do this before? Would like some experience advice There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two. Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here. If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight. This dude is the official victim of the bitcoin mania. Thank God the forum is archived. It will be a good basis for studying market delusions. https://i.imgur.com/eKWsql6.png
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mvdheuvel1983
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December 17, 2013, 11:39:58 AM |
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I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate
Did anyone do this before? Would like some experience advice There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two. Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here. If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight. Calling a $9k bubble and back to $1k the "worst case scenario"... Still believe this?
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KeyserSozeMC
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December 17, 2013, 11:42:06 AM |
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I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate
Did anyone do this before? Would like some experience advice
How can you guess? Can you see the future? Don't do stupid things and risk fiat, yet. It could be a global trap, so people invest their savings and then poof. World has become a playground for psychopaths, they make wars everyday, for fun. If something happens, which I expect in March to May, we're screwed.
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Hey, smexy. Don't waste your time. Time's precious.
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