I'm All In - Sold My House!

[praprata]

That is a pretty dumb thing to do because betting your house is way to dumb. I would never sell my house to  go all in, my house is way to important and special to me to give away.

[Ahab_Hunter_of_BearWhale]

Looks like it's starting to pay off, congratulations on your foresight and bravery. Enjoy the rewards, and give some of it to others, to those who need it most and are best able to use it. The more you give the more you get! Plus receiving for yourself as well as giving to others is more fun than just receiving for yourself without giving to others.

Remember most people who win the lottery or more depressed a number of years after winning than before. People need direction in life, having wealth is great, but Wealth makes a good servant, but a terrible master.
Use your wealth to increase your love and wisdom for others, this will help you not only acquire even more wealth in the future, but be able to additionally give more that you acquire away while maintaining and increasing your happiness and direction in life. It's a wonderful feedback loop 

[sidhujag]

i bet he's still down because real estate been going up... if hes in alberta sure maybe hes even.. but in BC the prices rising like 10% a month.

[mrhelpful]

That is a pretty dumb thing to do because betting your house is way to dumb. I would never sell my house to  go all in, my house is way to important and special to me to give away.

I wouldnt see why not.

Youre not aware of the housing situation and not know enough about it. It takes 30 years for a house appreciate in its value, and 2nd you dont know about the markets within where that house is so bitcoin is probably the best solution for them.

Its same thing as getting cash value and I`m sure he sold of his bitcoins and prepared for it while the price held.

[iv4n]

That is a pretty dumb thing to do because betting your house is way to dumb. I would never sell my house to  go all in, my house is way to important and special to me to give away.

That I'm agree with, to sold house for any investment sounds just to crazy. I remember a guy from few months ago, who sold everything and put all on red ( you can fins video on YouTube ). This is totally similar story, both of them risking a lot in my opinion.

Its a thin line between crazy and dumb, this guy's are proving that. The guy on roulette had luck, he doubled his money ( he took more then 230 000 $ ), I hope OP can have also luck to double, and with btc is possible to triple his money.

[pseudonymdude]

i bet he's still down because real estate been going up... if hes in alberta sure maybe hes even.. but in BC the prices rising like 10% a month.

Didn't look it up, but I assume you mean in the very short term.  10% a month is 1.1 ^ 12 = 314% of price per year.  Nothing does that consistently.

[Erzatium]

That you sold your house is pretty crazy in my eyes but can of course be worth it if you know you can make a lot of profit with the bitcoin this year and in the future.
The fact is also that a house keeps its worth.

[irun4fundotca]

awesome deal
up 193k from the listed price, thats great stuff

The property is listed for $405,000 CDN, but More writes that "the price can be reduced" if a buyer has some Bitcoins to spare

My original investment is worth $598,000 CDN.

[pissedoff]

I would not sell my house to go all in with bitcoin but you might be very rich one the bitcoin block halving occurs.

[sidhujag]

i bet he's still down because real estate been going up... if hes in alberta sure maybe hes even.. but in BC the prices rising like 10% a month.

Didn't look it up, but I assume you mean in the very short term.  10% a month is 1.1 ^ 12 = 314% of price per year.  Nothing does that consistently.

for the last few months.... sold our home at 900k and its 1100k about 6 months later.... and thats conservative... other properties doubled in the same time.

[pissedoff]

i bet he's still down because real estate been going up... if hes in alberta sure maybe hes even.. but in BC the prices rising like 10% a month.

Didn't look it up, but I assume you mean in the very short term.  10% a month is 1.1 ^ 12 = 314% of price per year.  Nothing does that consistently.

for the last few months.... sold our home at 900k and its 1100k about 6 months later.... and thats conservative... other properties doubled in the same time.

Also the chance of the real estate market crashing is much lower than the chance of a bitcoin market crash.

[sidhujag]

i bet he's still down because real estate been going up... if hes in alberta sure maybe hes even.. but in BC the prices rising like 10% a month.

Didn't look it up, but I assume you mean in the very short term.  10% a month is 1.1 ^ 12 = 314% of price per year.  Nothing does that consistently.

for the last few months.... sold our home at 900k and its 1100k about 6 months later.... and thats conservative... other properties doubled in the same time.

Also the chance of the real estate market crashing is much lower than the chance of a bitcoin market crash.

true real estate tends to curve downwards because of it being a much much bigger market.

[DarkThrones]

i bet he's still down because real estate been going up... if hes in alberta sure maybe hes even.. but in BC the prices rising like 10% a month.

Didn't look it up, but I assume you mean in the very short term.  10% a month is 1.1 ^ 12 = 314% of price per year.  Nothing does that consistently.

for the last few months.... sold our home at 900k and its 1100k about 6 months later.... and thats conservative... other properties doubled in the same time.

That's true I never thought about that. The real estate market is still covering from the big crash at least in America. So to compare that to his Bitcoin investment I think he has lost opportunity cost of owning the house.

[irun4fundotca]

yeah that makes sense too, our farm was less than 300k now its worth 450-500k but thats since 1980 when we built it
i still think if he was happy with 400kish hes up now anyway

[nicojaewpunk]

Wow. I would definitely not be feeling good with todays prices with this kind of deal. Hopefully they go back up soon.

[STT]

Doesnt a house cost maintenance as well, people talk of it as an investment but if its real then it has costs too.    If only insurance, any house needs total loss cover as part of a mortgage I believe.

The big deal of losing a house asset and gain large holdings of bitcoin is that in a normal capitalist system you can gain something by giving a benefit to others of your capital, most obviously bank deposits and interest and this is relatively secure.  Normally but with bitcoin Ive not really heard of that exactly but its not just a one off, if bitcoin is a real asset then this generally should be possible.  Companies need float or whatever.   If this doesnt exist and become a common instance as bitcoin rises above 1,000 again I wonder for crypto long term, it cant be one dimensional

However the interesting point is we have reached a point in normal fiat systems like dollar where cash barely earns anything, its no longer true capital (useful) or a capitalist society of holding.  Japan and a few places deliberately destroy this element of an economy and charge for those who hold cash with negative rates, I do wonder if this is the end game.    Dollar has some weird back door deal with the FED allowing banks to keep cash off the streets (avoiding inflation) with a false rate special available if they leave excess cash at the FED.   This is only possible if rates stay low as it costs FED alot, the irony with rising rates is inflation rises even faster I think and people will wonder why but its the smallest things that count imo

[Cyaren]

Well, I think you made this decision at the right time. The housing bubble is doomed to collapse at some time in the future. When that happens will be a mystery to us, until it does happen.

good job on choosing BTC as well.

[NewInCryptoCurrency]

I dont understand this did you really sold your house by goign all in with gambling wow that is a big stap men and such a stupid idea. I will never do such things.

[dennusd]

Just checking back today.

** Update **

I am still around.

I still have all my bitcoin.

If you check the original posting from 2 years ago, I did indeed sell my house for Bitcoin, and there are links to the actual news articles.

I currently live in Toronto now, and rent a house with friends.

The price of Bitcoin is currently at close to $700US or $900 CDN.

My original investment is worth $598,000 CDN.

My initial investment is up nearly 50% since I purchased Bitcoin 2 years ago.

Cheers,

Tay More

Awesome news Just hold a little bit longer and you'll be the one laughing last

[_nur]

Just checking back today.

** Update **

I am still around.

I still have all my bitcoin.

If you check the original posting from 2 years ago, I did indeed sell my house for Bitcoin, and there are links to the actual news articles.

I currently live in Toronto now, and rent a house with friends.

The price of Bitcoin is currently at close to $700US or $900 CDN.

My original investment is worth $598,000 CDN.

My initial investment is up nearly 50% since I purchased Bitcoin 2 years ago.

Cheers,

Tay More

Awesome news Just hold a little bit longer and you'll be the one laughing last

how can you be so sure dude?