I'm All In - Sold My House!

[jeomses]

"A decision without wisdom and full of greed was taken!"

[Biodom]

The guy is 18-22 and he inherited the house. Even if he loses much of the cash value, he basically has all life of work ahead of him. It would be different if he was 50.
I say, it is a bold speculation and he will be in the news.

There was a guy in January 2013 who posted that he got 30K credit card loan and bought BTC for $13 for the whole 30K (must have been 2-2.5K coins). A couple of months later when bitcoin went to $100-200 he posted that he sold enough to cover his loan as many were suggesting. I don't know how it ended. This was only possible in 2013 and I would have never done anything like this.

With that kind of money invested wisely, the guy could live his whole live without ever having a financial worry to speak off.

You cannot invest "just" 400K in the stock market and live the rest of the life without financial worry. Numbers just don't compute.
You need ~$5 mil to generate ~200K worry free cash/year (in 30 year treasuries).

[Hyena]

OP just has balls

"Oh life is so unfair, stupid noobs like OP get money and don't know how to use it."

COME ON, I  think it's cool that we get some serious bitcoin business going on. High testosterone levels make males take more risks, sometimes it gets them killed but that's how nature balances things out. The fact is that if you don't take risks you will never achieve anything.

[theonewhowaskazu]

The guy is 18-22 and he inherited the house. Even if he loses much of the cash value, he basically has all life of work ahead of him. It would be different if he was 50.
I say, it is a bold speculation and he will be in the news.

There was a guy in January 2013 who posted that he got 30K credit card loan and bought BTC for $13 for the whole 30K (must have been 2-2.5K coins). A couple of months later when bitcoin went to $100-200 he posted that he sold enough to cover his loan as many were suggesting. I don't know how it ended. This was only possible in 2013 and I would have never done anything like this.

With that kind of money invested wisely, the guy could live his whole live without ever having a financial worry to speak off.

You cannot invest "just" 400K in the stock market and live the rest of the life without financial worry. Numbers just don't compute.
You need ~$5 mil to generate ~200K worry free cash/year (in 30 year treasuries).

And then inflation/default in next 30 years and you're screwed again.

[kwest]

OP just has balls

"Oh life is so unfair, stupid noobs like OP get money and don't know how to use it."

COME ON, I  think it's cool that we get some serious bitcoin business going on. High testosterone levels make males take more risks, sometimes it gets them killed but that's how nature balances things out. The fact is that if you don't take risks you will never achieve anything.

There's unnecessary risk, and there's calculated risk. IMO risking everything you have on one thing is unnecessary, at least if we are talking an amount of money that OP won't earn back in 6-12 months or so just saving a little.

There's a difference between risking everything you have if it's 20 btc... and 648 btc. The latter would take a looong time to recoup from.. possibly never. Keeping 350-400 btc and locking in the rest would at least make me sleep a lot easier.. and wake up with a smile on my face.

[sgbett]

Hi All,

I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.

http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html

Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck

Tay More

If you don't mind me saying....you are out your fucking mind.

As other people have suggested. Visualise your reaction if you wake up sometime next week and see Bitcoin at $450. How is that going to make you feel? What are you going to do? You realise that there are hundreds of thousands of stolen coins in circulation right now, many of them probably being prepared for a big long drawn out cashing out, don't you?

Sell at least 60% of what you have for as close to the matching equivalent cash price of your house that you can get. 200 BTC is more than enough of a wild card gamble to be taking on Bitcoin at this point in time. If Bitcoin goes to $5K, then great! But if Bitcoin happens to die a premature death for any reason, then you live and learn but you still have your shirt on your back.

Do remember to come back in three years time and post about how lucky this guy was.

[MatTheCat]

Do remember to come back in three years time and post about how lucky this guy was.

totally different scenario to the early adopters in many ways....

....not least of all that you or I could have become near millionaires by investing a small amount of capital. As it turns out, you invested an absolute pittance and I invested jackshit/spent all my single digit Bitcoins on Silk Road.

This guy is investing a small fortune. Totally different fkn ball game at a totally different phase of Bitcoins development. Can you really say that we aren't yet going to test the $266 April 2013 high? I doubt it, but with Bitcoin anything is possible so I wouldn't be writing that off.

Bitcoin is overblown. Simple as that. Hyper-inflated value derived from from a speculative mania based entirely upon hoarding, restricted supply, and lack of market liquidity. Reverse any of these factors (such as having around 500K stolen coins looking to convert themselves into USD and Bitcoin could easily go in the opposite extreme.

Bitcoin might go to $5K within the next 18 months. But it also may just hit the $200s, or even less depending on how some totally unpredictable events happen to play out. As they say, don't go putting yer house on it.

[Ibian]

Do remember to come back in three years time and post about how lucky this guy was.

totally different scenario to the early adopters in many ways....

....not least of all that you or I could have become near millionaires by investing a small amount of capital. As it turns out, you invested an absolute pittance and I invested jackshit/spent all my single digit Bitcoins on Silk Road.

This guy is investing a small fortune. Totally different fkn ball game at a totally different phase of Bitcoins development. Can you really say that we aren't yet going to test the $266 April 2013 high? I doubt it, but with Bitcoin anything is possible so I wouldn't be writing that off.

Bitcoin is overblown. Simple as that. Hyper-inflated value derived from from a speculative mania based entirely upon hoarding, restricted supply, and lack of market liquidity. Reverse any of these factors (such as having around 500K stolen coins looking to convert themselves into USD and Bitcoin could easily go in the opposite extreme.

Bitcoin might go to $5K within the next 18 months. But it also may just hit the $200s, or even less depending on how some totally unpredictable events happen to play out. As they say, don't go putting yer house on it.

Mat, I will bet you 2 btc that we will not hit $266 or lower before reaching a new ATH. Gentlemans agreement is fine with me.

[Peter R]

Do remember to come back in three years time and post about how lucky this guy was.

totally different scenario to the early adopters in many ways....

I agree it was different in terms of initial investment, but once those early bitcoins were worth big money it really wasn't different at all.  Consider the guy who took a risk and bought $10,000 of BTC in November 2011 at $2 a piece giving him 5,000 BTC.  

Bitcoin hits $200 in spring of 2013.  He now *could* cash out $1,000,000.  It no longer matters that he only paid $10,000 for the coins.  The risk he is taking by continuing to hold those coins is the same risk that someone with $1,000,000 is taking buying 5,000 BTC in spring 2013.  

The point I'm trying to make is early adopters were tempted to sell their coins off all the way along, and many did.  Unless you just completely forgot about your bitcoins until now, I imagine early adopters were constantly fighting with themselves on how many coins to sell.  If the guy in my example holds through the April bubble until this December at $1,000 / BTC, well, that took a lot of balls!  The fact they he only "paid" $10,000 has long become irrelevant.

That being said, I do think it is wise to diversify to some extent and honestly ask yourself how you'll feel if it all falls apart.  

 

[spiderbrain]

Thanks for believing, but be careful with your bitcoins, I hope you know a lot about cold storage!

[MatTheCat]

Mat, I will bet you 2 btc that we will not hit $266 or lower before reaching a new ATH. Gentlemans agreement is fine with me.

The minute I become convinced that we will see $200 bitcoin again, I won't mince around putting 2 BTC bets with you, but get over to Bitfinex and put on the biggest short I can manage.

I don't believe we will trend as low as $266 as long as Bitcoin still has life in front of it, which it does. If however some kind of downside X-Factor were to occur.......

My stance on Bitcoin is neither Bull nor Bear. What I do believe is that right now Bitcoin is looking weak at its current price range. New lower lows than $400? No chance! But for me, Bitcoin will trend a good bit lower than it is now. For me it just isn't a buy at the moment.

[theta]

Mat, I will bet you 2 btc that we will not hit $266 or lower before reaching a new ATH. Gentlemans agreement is fine with me.

To make it fair you need to quote the bet account in fiat or other fixed asset, not BTC, otherwise the asymmetry in your favor. If BTC goes to zero, you lose but it costs you nothing, whereas if it hits new ATH, he loses and costs him a lot.

[Ibian]

Mat, I will bet you 2 btc that we will not hit $266 or lower before reaching a new ATH. Gentlemans agreement is fine with me.

To make it fair you need to quote the bet account in fiat or other fixed asset, not BTC, otherwise the asymmetry in your favor. If BTC goes to zero, you lose but it costs you nothing, whereas if it hits new ATH, he loses and costs him a lot.

If he is sure then the bet is in his favor. I don't deal in fiat, not my problem if others do. Anyway he said no.

[chessnut]

remember to wait for atleast 2 confirms 

[joesmoe2012]

I will truly be a bitcoin billionaire by the time I am 25 I believe

wow....little over the top eh?

[seleme]

Hi All,

I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.

http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html

Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck

Tay More

Bitcoin needs to be priced at 1.5 mil. for those 648 coins to make you billionaire.

So, unless you trade the shit out of them to grow that number, I doubt you'll come close to being bitcoin billionaire.

[joesmoe2012]

Hi All,

I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.

http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html

Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck

Tay More

Bitcoin needs to be priced at 1.5 mil. for those 648 coins to make you billionaire.

So, unless you trade the shit out of them to grow that number, I doubt you'll come close to being bitcoin billionaire.

Should've sold @ $1200+ though, you'd be alot closer than you are now.

[st4nl3y]

[inca]

Do remember to come back in three years time and post about how lucky this guy was.

totally different scenario to the early adopters in many ways....

....not least of all that you or I could have become near millionaires by investing a small amount of capital. As it turns out, you invested an absolute pittance and I invested jackshit/spent all my single digit Bitcoins on Silk Road.

This guy is investing a small fortune. Totally different fkn ball game at a totally different phase of Bitcoins development. Can you really say that we aren't yet going to test the $266 April 2013 high? I doubt it, but with Bitcoin anything is possible so I wouldn't be writing that off.

Bitcoin is overblown. Simple as that. Hyper-inflated value derived from from a speculative mania based entirely upon hoarding, restricted supply, and lack of market liquidity. Reverse any of these factors (such as having around 500K stolen coins looking to convert themselves into USD and Bitcoin could easily go in the opposite extreme.

Bitcoin might go to $5K within the next 18 months. But it also may just hit the $200s, or even less depending on how some totally unpredictable events happen to play out. As they say, don't go putting yer house on it.

Ah, so you sold your coins and you're short?

[usabuilds1]

A few great men risked it all and became billionares good for you I love the enthusiasm....