I'm All In - Sold My House!

[fran2k]

More than likely, he's trying to forget that this ever happened.

He is sitting pretty on more than 600BTC that could be worth millions in just a few years. What investments do YOU have that could make you a millionaire?

Only in bitcoin land can a person be "sitting pretty" on an investment that's already lost 50%. So dumb...

Someone said Stop Loss for Dummies ?

[chesthing]

You people are so gullible. The op was a fucking troll, 4 posts total, he was last active in October. He is probably Fonzie or some other douche.

[cakebet]

lol hot

What investments do YOU have that could make you a millionaire?

I can prolapse my anus and play the bagpipes with it.

[cbeast]

What about these economic collapses that are happening to various countries around the world at the moment?

There could be a chance that investing in stocks/bonds is like burning your money in x years time.

In such a scenario where worldwide wealth was wiped out, I assure you bitcoin would suffer worst of all. As we've already seen in real world scenarios, bitcoin is not acting as a hedge for wealth storage.

"Aye, we talked about it. Have you ever been in a city under siege? Maybe this part's not in your books. See, it's not the fighting that kills most people; it's the starving. Food's worth more than gold. Noble ladies sell their diamonds for a sack of potatoes. Things get bad enough, the poor start eating each other. The thieves, they love a siege. Soon as the gates are sealed, they steal all the food. By the time it's all over, they're the richest men in town."

-Bronn, Game of Thrones.

Do you mean the siege is coming as an economic crisis, or do you think Bitcoin is under seige? Both?

[BlindMayorBitcorn]

More than likely, he's trying to forget that this ever happened.

He is sitting pretty on more than 600BTC that could be worth millions in just a few years. What investments do YOU have that could make you a millionaire?

Only in bitcoin land can a person be "sitting pretty" on an investment that's already lost 50%. So dumb...

Someone said Stop Loss for Dummies ?

Alas, it was the heady days of the revolution. We were under-prepared

[Walsoraj]

What about these economic collapses that are happening to various countries around the world at the moment?

There could be a chance that investing in stocks/bonds is like burning your money in x years time.

In such a scenario where worldwide wealth was wiped out, I assure you bitcoin would suffer worst of all. As we've already seen in real world scenarios, bitcoin is not acting as a hedge for wealth storage.

"Aye, we talked about it. Have you ever been in a city under siege? Maybe this part's not in your books. See, it's not the fighting that kills most people; it's the starving. Food's worth more than gold. Noble ladies sell their diamonds for a sack of potatoes. Things get bad enough, the poor start eating each other. The thieves, they love a siege. Soon as the gates are sealed, they steal all the food. By the time it's all over, they're the richest men in town."

-Bronn, Game of Thrones.

Do you mean the siege is coming as an economic crisis, or do you think Bitcoin is under seige? Both?

I mean that in an economic crisis, you will trade all your precious bitcoins for a potato.

[cbeast]

I mean that in an economic crisis, you will trade all your precious bitcoins for a potato.

Let's go with that. Ever heard of bank runs? Banks will close. There will be no safe place for your money. Food? Better have plenty ammo, Prepper. Crisis is never global. Bitcoin will still be hashing somewhere. Your keys are easy to hide and keep safe, but it's still a good idea to have some ammo.

[Ruthful]

Except a property will cost you money to maintain and taxes

Unless there are very select cases (that property situated in a disaster prone area e.g) , it is highly doubtful that the annual maintenance cost and taxes exceeds its value appreciation .Of course,I could be wrong as I don't really know the detail concerning the house in question.

[jertsy]

Except a property will cost you money to maintain and taxes

Unless there are very select cases (that property situated in a disaster prone area e.g) , it is highly doubtful that the annual maintenance cost and taxes exceeds its value appreciation .Of course,I could be wrong as I don't really know the detail concerning the house in question.

The OP inherited the house from his father before he died, so his father might have lived in it for 50+ years. For all we know the house might be 100+ years old. When a house gets beyond a certain age it's often cheaper to knock it down and build a new one than fixing it.

If the OP had kept the house for another decade it might have only been fit for the wrecking ball.

[btcxyzzz]

He should've sell his house for USD in 03/2014 and then just convert them to BTC. Not a smart move selling it one year later for Bitcoins.

[LOBSTER]

He should've sell his house for USD in 03/2014 and then just convert them to BTC. Not a smart move selling it one year later for Bitcoins.

He should've sell it in 2011

[riiiiising]

It's kind of frightening to see so much bad financial advice gathered into one spot on the Internet. So far in this thread, we've been told that it might be a good idea to avoid traditional investments such as diversified baskets of stocks and bonds, and real estate as well. Because there could be a global economic disaster that destroys wealth for decades to come (which would be a first) and real estate requires maintenance.

So instead, put all your money into bitcoin, a 6-year-old experiment that has lost 70% of its value in the past year.  

I'm not saying you shouldn't invest some into bitcoin if that's what you want, but you've got to expect it to go to zero at this point. I hope you guys don't practice what you preach and are actually putting most of your retirement savings into traditional stock/bond portfolios.

[yefi]

The OP inherited the house from his father before he died, so his father might have lived in it for 50+ years. For all we know the house might be 100+ years old. When a house gets beyond a certain age it's often cheaper to knock it down and build a new one than fixing it.

If the OP had kept the house for another decade it might have only been fit for the wrecking ball.

lol, what is this, The Money Pit now? The Bitcoiner who bought the house presumably falling through the floorboards and shit.

[jertsy]

The OP inherited the house from his father before he died, so his father might have lived in it for 50+ years. For all we know the house might be 100+ years old. When a house gets beyond a certain age it's often cheaper to knock it down and build a new one than fixing it.

If the OP had kept the house for another decade it might have only been fit for the wrecking ball.

lol, what is this, The Money Pit now? The Bitcoiner who bought the house presumably falling through the floorboards and shit.

I viewed a few cheap houses about 12 years ago that looked a bit rough, but not wrecking ball material. Some now have trees growing out of the chimney pots and fucking big cracks going up the walls. Thankfully I did not buy them, but some chump must have.

[riiiiising]

The OP inherited the house from his father before he died, so his father might have lived in it for 50+ years. For all we know the house might be 100+ years old. When a house gets beyond a certain age it's often cheaper to knock it down and build a new one than fixing it.

If the OP had kept the house for another decade it might have only been fit for the wrecking ball.

lol, what is this, The Money Pit now? The Bitcoiner who bought the house presumably falling through the floorboards and shit.

I viewed a few cheap houses about 12 years ago that looked a bit rough, but not wrecking ball material. Some now have trees growing out of the chimney pots and fucking big cracks going up the walls. Thankfully I did not buy them, but some chump must have.

Building techniques have improved greatly since the turn of the century (1900s), and houses built in the past few decades should be able to hold up 100 years and far more with basic maintenance. The land they sit on will also go up in value. Real estate is generally a pretty safe investment.

[DonQuijote]

He should've sell his house for USD in 03/2014 and then just convert them to BTC. Not a smart move selling it one year later for Bitcoins.

He should've sell it in 2011

If he did it, he is bibibibibillonarie haha
I remember when i could buy thousand of btc with a few dollars... good times...

[grendel25]

That's awesome!  Congratulations on selling your house for bitcoin.  I applaud your enthusiasm!  The buyer got a great deal because they used bitcoin to pay which should generate even more attention to the buying power of bitcoin.  This is a major reason that I'm still interested in btc despite recent lower prices.  The volatility is also interesting to watch and you know everyone is kind of nervous of a huge boost back up to $1k+.

Just remember to take a little cash when you feel the time is right.  One of those financial/business rules is, "don't fall in love". 

[LordSonjai]

He should've sell his house for USD in 03/2014 and then just convert them to BTC. Not a smart move selling it one year later for Bitcoins.

He should've sell it in 2011

If he did it, he is bibibibibillonarie haha
I remember when i could buy thousand of btc with a few dollars... good times...

and now you feel as if you fail in life right?because you could of been a billionaire,you had the golden ticket opportunity. And blew it.
if i were you I swear I would kill myself.

[grendel25]

He should've sell his house for USD in 03/2014 and then just convert them to BTC. Not a smart move selling it one year later for Bitcoins.

He should've sell it in 2011

If he did it, he is bibibibibillonarie haha
I remember when i could buy thousand of btc with a few dollars... good times...

and now you feel as if you fail in life right?because you could of been a billionaire,you had the golden ticket opportunity. And blew it.
if i were you I swear I would kill myself.

Pretty sure there are some anti-bully lobbyists freaking out right now.  Seriously, who says that sort of thing anymore?  It's so 2006.

[picolo]

That's awesome!  Congratulations on selling your house for bitcoin.  I applaud your enthusiasm!  The buyer got a great deal because they used bitcoin to pay which should generate even more attention to the buying power of bitcoin.  This is a major reason that I'm still interested in btc despite recent lower prices.  The volatility is also interesting to watch and you know everyone is kind of nervous of a huge boost back up to $1k+.

Just remember to take a little cash when you feel the time is right.  One of those financial/business rules is, "don't fall in love". 

It's too late for that. He will not cash out if he doesn't have to or if the price is not very high.