I'm All In - Sold My House!

[kkaspar]

I hope you didn't like the house very much and you own another place to live. It would be stupid gamble if you actually sold your home and moved into an rental, just to gamble with bitcoins. At the current situation, it would make more sense to play the money at the roulette table, since probability tends to lean more and more to the bitcoin price dropping.
I would recommend to sell your bitcoins now and buy back when there is more certainty that the price will actually rise.

Idiot.

[Ibian]

Another one hits the ignore list. I never used that before coming here.

[inca]

I hope you didn't like the house very much and you own another place to live. It would be stupid gamble if you actually sold your home and moved into an rental, just to gamble with bitcoins. At the current situation, it would make more sense to play the money at the roulette table, since probability tends to lean more and more to the bitcoin price dropping.
I would recommend to sell your bitcoins now and buy back when there is more certainty that the price will actually rise.

I am sure I am not the only lurker who finds the constant fud spreading perma bears (kkaspar, igorr, matthecat etc) highly transparent and more than a bit irritating. You aren't fooling anyone guys. Maybe try reddit or something.

[dyland]

Only time will tell if this was idiotic or prescient.

The technology behind bitcoin I think at this point is unassailable. My main worry is that the bitcoin as the de facto arbiter of this technology will take too many beatings in the public eye before it can grow its wings. In the meantime, something else could come along that gains traction quickly with no negative media and starts to outpace BTC.

Bitcoin is a brand of a service, and brands live and die on human perceptions. The technology behind it is not a brand, however, and it is more shielded from the vagaries of public sentiment.

I think what we have right now is a conflation of the brand "Bitcoin" and the technology behind it. Right now it is synonymous with the technology, and that helps prop up its value--in fact, I think it is the main determinant of its value. If "bitcoin" does not become "kleenex" or "q-tip", it won't last.

[Gonzo418]

Wish you all the luck in the world!
I also hope they'll rise and that I can make a living out of it. But sadly you need money to make money.

[kkaspar]

I hope you didn't like the house very much and you own another place to live. It would be stupid gamble if you actually sold your home and moved into an rental, just to gamble with bitcoins. At the current situation, it would make more sense to play the money at the roulette table, since probability tends to lean more and more to the bitcoin price dropping.
I would recommend to sell your bitcoins now and buy back when there is more certainty that the price will actually rise.

I am sure I am not the only lurker who finds the constant fud spreading perma bears (kkaspar, igorr, matthecat etc) highly transparent and more than a bit irritating. You aren't fooling anyone guys. Maybe try reddit or something.

You are irritated because there is very little buying interest for bitcoin, so you aren't earning the wealth that you hoped for. Don't blame me for this, I didn't cause this. It was Mark Karpales and the passive emus of the bitcoin community that turned buying bitcoin into a joke.

[Cyberlight]

I will quote myself when you won't be able to sell the BTC and get half the price of your house, no doubt at the back of my mind.

Bitcoins won't last as an investment, stop with the greed.

[Wilhelm]

Nobody wanted to buy it for either dollars or bitcoin. I tried believe me. It was nearly impossible to sell for bitcoin because I had to get 3 lawyers, and the real estate lady (originally it was a private sale), and it had to be $1 plus the bitcoin, as bitcoin are not legal tender in Canada so can't be used as 'consideration' in financial transactions. By the time all the smoke cleared I got 648 btc. But if it is going to $10/$100K per coin like the Winkle guys are saying and many others, then I am set for life regardless of how many I got

Hope for you it's not the first ... $10 would suck

[knightcoin]

I will quote myself when you won't be able to sell the BTC and get half the price of your house, no doubt at the back of my mind.

Bitcoins won't last as an investment, stop with the greed.

for me BTCBTCBTC means never get bored ...

[freebit13]

Because, of course one can use poker chips to send money across the world for just a fraction of the cost than it does via a wire transfer...

[DieJohnny]

You are under 25, gamble while you are young, why the hell not.

But i agree with some of the other sentiments on here, you would have been better off to have sold for whatever you could have got for it in 2013 and bought BTC with whatever you could come up with. You would be sitting on 5k bitcoin instead of a few hundred.

but you have more than me, so way to kick ass. I do think that Bitcoin still has the potential to go to zero though, just saying......

[Ibian]

I do think that Bitcoin still has the potential to go to zero though, just saying......

It's interesting how just about anyone who has ever said that fail to explain how, just saying.

[hdbuck]

yeayyy congrats man! wish you luck

[semaforo]

    This was a good move, and everyone should follow suit. Bitcoin is naturally superior to fiat, and this will be proven by those who are willing to shift from the decaying banking system to the world of personal responsibility and freedom.

   It's too bad you are doing it just to get rich. If we do see a protracted bear market, you may be tempted to sell in the kind of stampede mentality that could set the development of bitcoin back quite a bit. As a security I would recommend buying another house when the price is between 5-10k $. People should refrain as much as possible from supporting the illegal and immoral wars and trade policy of the nation states and avoid transacting in fiat because it's the right thing to do. Speculation, however, is not a win-win.

   And remember that with great power comes great responsibility- while it may seem like a nice fantasy to escape to a private island somewhere, there could be hordes of people starving in tent cities who kept all of their money in fiat until it was too late, and we will all be better off if we devote some of our wealth to taking care of these people- in the end, you could consider it an investment in peace and stability, because if things get bad enough, the people's whose pension funds collapsed and whose bank deposits became worthless could very likely build a raft out of old refrigerators and storm your island.

     You can also buy gold with bitcoin- diversification is a good idea if you want more security.

[Hyena]

the people's whose pension funds collapsed and whose bank deposits became worthless could very likely build a raft out of old refrigerators and storm your island.

that's why the moat full of alligators and sharks was invented.

[practicaldreamer]

My main worry is that the bitcoin as the de facto arbiter of this technology will take too many beatings in the public eye before it can grow its wings. In the meantime, something else could come along that gains traction quickly with no negative media and starts to outpace BTC.

Yes - thats my concern too.

Whenever I read stuff written by Bitcoin sceptics they never seem to preclude the idea of a cryptocurrency - they just seem down on Bitcoin in particular. Silk Road ? I dunno. Its like they are waiting for a new clean sexy cryptocurrency and then they'll be ready to jump on board. But not yet, and not with bitcoin. Maybe they are pissed off at not having had the insight to have adopted it earlier, or some such.

Of course, as time goes on (and on), the BTC protocol becomes stronger and more trusted (if only for being still present/with us/having survived) - and so, wether the sceptics like it or not, it will slowly but surely creep into the collective consciousness.

And I reckon that when it comes to cryptocurrencies a timeserved apprenticeship is a big bonus. For every Mt. Gox BTC is one step closer to graduation (I hope)


With regard the OP ...

Bitcoin is still so young that you shouldn't need to invest a fortune to get rich if it realizes its potential.

...this.

[checkers6676]

the best advice anyone on here can give you is this:
HODL!

[TERA]

When I saw this thread a dark realization came upon me, we had not yet reached a sustained reversal.

[Hyena]

When I saw this thread a dark realization came upon me, we had not yet reached a sustained reversal.

reversal of what?

[st4nl3y]

why is this not in the media yet