I'm All In - Sold My House!

[Pesovanid]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

If it has exponential growth, it also can be reverse as well.

But all the signs are there to be bullish, but its better to not risk the house and be homeless lol. Based on what youre talking on valuation.

I rather avoid that situation to be in.

If he sold his house and bought the bitcoin last August, he could be rich now. He would be even richer after August this year.

[gkv9]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

If it has exponential growth, it also can be reverse as well.

But all the signs are there to be bullish, but its better to not risk the house and be homeless lol. Based on what youre talking on valuation.

I rather avoid that situation to be in.

The guy said that he's all in, which means house already sold...
Maybe he's in profit, maybe not...
Maybe he has bought his house back after making some profit that he wanted, and now living his life comfortable, who knows better...

[Hi7]

648 btc... Holy shit that's a lot. Let's hope bitcoin rises to 1k

[sidhujag]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

If it has exponential growth, it also can be reverse as well.

But all the signs are there to be bullish, but its better to not risk the house and be homeless lol. Based on what youre talking on valuation.

I rather avoid that situation to be in.

The guy said that he's all in, which means house already sold...
Maybe he's in profit, maybe not...
Maybe he has bought his house back after making some profit that he wanted, and now living his life comfortable, who knows better...

I thought that picture was him living in a cardboard box now? he sold a prime title in the hottest market in the world for bitcoin.. he is down 300-400% in the short time he sold even though bitcoin didn't fall, the property prices have been going literally to the moon in Vancouver, we're talking about $25 million a view acre. BTC would have to rise to about $2k for him to break even.

I wonder if the buyer had to pay tax on that bitcoin or was it before the taxation of bitcoin, because otherwise the buyer got an even bigger steal of a deal.

[angaper]

Actually you did not sell your house: you sold the house of your father, the only one who really had to work hardly to get such asset, and that is why it was so easy for you to take such decision. Perhaps you would think different if you was been forced to work hardly too in order to pay the real price of that house.

[Wapinter]

Not a good idea to sell house for bitcoins.Holding your recently acquired coins may give you profit in coming days but real estate is also going to flourish and would have given you same amount that  648 bitcoin would give you after 10 years

[romero121]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

If it has exponential growth, it also can be reverse as well.

But all the signs are there to be bullish, but its better to not risk the house and be homeless lol. Based on what youre talking on valuation.

I rather avoid that situation to be in.

If he sold his house and bought the bitcoin last August, he could be rich now. He would be even richer after August this year.

Truly he could be more rich but when he tries to afford a house, the price of the house he sold might also have increased as investment on property continues increases prior to money value.

[sidhujag]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

If it has exponential growth, it also can be reverse as well.

But all the signs are there to be bullish, but its better to not risk the house and be homeless lol. Based on what youre talking on valuation.

I rather avoid that situation to be in.

If he sold his house and bought the bitcoin last August, he could be rich now. He would be even richer after August this year.

Truly he could be more rich but when he tries to afford a house, the price of the house he sold might also have increased as investment on property continues increases prior to money value.

Is it me or do trolls here not read they just post their own bull crap and move on?

[IamCANADIAN013]

I thought that picture was him living in a cardboard box now? he sold a prime title in the hottest market in the world for bitcoin.. he is down 300-400% in the short time he sold even though bitcoin didn't fall, the property prices have been going literally to the moon in Vancouver, we're talking about $25 million a view acre. BTC would have to rise to about $2k for him to break even.

I wonder if the buyer had to pay tax on that bitcoin or was it before the taxation of bitcoin, because otherwise the buyer got an even bigger steal of a deal.

The house was in Crowsnet Pass Alberta, not Vancouver.  The housing market in Alberta right now is on a steady decline because the oil industry there right now is pretty much dead.

[Sandroxa]

It can be very risky because if the value will be going down you will lose all your money and than you have nothing so that can be bad for you.
But it can be good of course, because if the value will rise than you can have a lot of profit.

[sidhujag]

I thought that picture was him living in a cardboard box now? he sold a prime title in the hottest market in the world for bitcoin.. he is down 300-400% in the short time he sold even though bitcoin didn't fall, the property prices have been going literally to the moon in Vancouver, we're talking about $25 million a view acre. BTC would have to rise to about $2k for him to break even.

I wonder if the buyer had to pay tax on that bitcoin or was it before the taxation of bitcoin, because otherwise the buyer got an even bigger steal of a deal.

The house was in Crowsnet Pass Alberta, not Vancouver.  The housing market in Alberta right now is on a steady decline because the oil industry there right now is pretty much dead.

weird for some reason i thought it was in van

[Next BillG]

It can be very risky because if the value will be going down you will lose all your money and than you have nothing so that can be bad for you.
But it can be good of course, because if the value will rise than you can have a lot of profit.

The bitcoin price has consolidated for some time. It will not go down much now. It will rise after halving.

[KennyR]

It can be very risky because if the value will be going down you will lose all your money and than you have nothing so that can be bad for you.
But it can be good of course, because if the value will rise than you can have a lot of profit.

The bitcoin price has consolidated for some time. It will not go down much now. It will rise after halving.

The price is expected to go high on halving. There is no assurance for a rise, also the house he mentioned was sold long back. He might had alternate investment plans.

[mindrust]

Wow this guy lost more than 100k$ and still going strong.

I would have suicided myself if i ever seen btc @200$ while holding 650bitcoins.

You could have invested in Apple shares and made huge money :p

[techgeek]

The risk doesnt really out weight the entire situation..

Lets say he/she kept the house instead of getting bitcoin - they still have to wait for 10 years... to for an appreciate value. Thats 10 years!!

Not only that, what proves to the point of coming down to would be lodging for the remainder of their life time. So if they dont mind downsizing vs paying a smaller place for rent and leaving their money to free choices to make more money why not.

You gotta really understand that if they did keep their house, the house pricing is really caused by was 2008. So unless something similar happens, then I dont see a way for them to sell the house fast like they did with bitcoin.

[Biodom]

I would not sold a house for bitcoin, or at least not yet.
However, a word to those who think that real estate always go up-recent US history tells otherwise.
I keep being hit by regular 10% yearly real estate tax increases.
I think that this is based on cheap credit and these prices are NOT sustainable.
They assign ridiculous prices to land as well, just so they can increase the tax.
Where else a used good, like a house, magically increases in value (even after land value is subtracted)?
Realistically, I think that housing in overpriced at least 30-40%, maybe even more.

[STT]

Canadian real estate listings make international headlines, but a mid-sized Alberta bungalow

Canada especially is a giant country with very few people in its available space.  Doing the math I agree with the above poster, bottom line for house prices is much lower then present.   Obviously with plenty of land in theory and plenty of possible labour and timber to build; the unique pricing doesnt support housing always going up.
The reasons for housing debt rising is mostly political and related to local government.  My general take on the world wide land situation is that the net allows greater distribution of humans without needing to be centered around towns nearly so much.  We got all sorts of crazy things going on, including drones and so on allowing people to live far more remotely then ever before; yet communicate and work, contribute despite location.  Surely population density pockets with large countries drops.  Japan has seen this but also a drop in population so Im not sure where thats not true.
Selling just that one house could be viewed as reducing risk, if you exclude what he did next with the money.  However we dont know his other assets

Wow this guy lost more than 100k$ and still going strong.

I would have suicided myself if i ever seen btc @200$ while holding 650bitcoins.

You could have invested in Apple shares and made huge money :p

Its only money but yea he could taken a few different things besides purely bitcoin.   The best idea is to vary investment across multiple sectors of the economy, thats the proper advice from professionals.  Not just look to gains but to avoid risk and extreme loss.

Im not negative on bitcoin but we all know the worst case scenario is bitcoin goes to zero so we are talking super extreme risk he took.     My earlier conclusion is this guy is loaded anyway and/or very secure in his job, for whatever reason he was not tempted to put some of the house money into spending on other things.  Thats his choice, it was quite a deliberate choice and I doubt he was super glum at $200 price as the history of bitcoin includes many falls.  His lawyer or just friends probably said repeatedly 'what if'   I guess he was fine with it

[Lokfar]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

Its risky man that people is going to go all in in Bitcoin and that is bad because they dont even know what the value of Bitcoin will do and that can be the problem for the most.
You must hope that you can have a lot of profit with Bitcoin but that is hard to know from before.

[BitsandBites]

People are this serious and even sell their own house to invest in Bitcoin. I hope that the price in the future will be high enough for these people to buy a new house.
I would never sell my house for Bitcoins because it still is a gamble.

[tuvok007]

Is this true? When did you sell your house/bought btc? in april 2014? than you didnt win anything..... Yet..... But you will...... Soon.