I'm All In - Sold My House!

[Ohh Pewee]

Hope OP didn't get weak hands in the last couple months.  I really hope this works out for him.

[Skele]

Some are making fun of this guy or saying was a waste of an investment but what would you say if bitcoin reaches 10,000 and this man becomes millionaire  .
i think some willl be begging

[wachtwoord]

if bitcoin goes to $100, I will think seriously about I sell my kidney ...

If it goes to 100$ it will mean that there has been one or more huge bad news so it will be harder to buy it than now

It can go to 100 in a flash crash to rapidly recover back.. but if it stays at 100 for more than a week.. we had to see why happened, bit bitcoin all is possible, several times have crashed to less than 10% and recovered back..  

I don't think a flash crash will provide for sufficient time to sell your kidney.

[STT]

Buying a house is not considered risky because you will use that house every day.    Selling the house to buy something you do not use everyday is most certainly risky.

Im not against the choice as such but this is just 1+1=2 in risk analysis.     At least the OP should secure his accommodation.   If a man chooses to sell a large house and live in a tiny room somewhere then so be it , maybe he saves on heating bills and maybe he can justify it all.  But to have have nothing at all as replacement seems unsustainable which is where it becomes an excessive gamble.

If it was written, I run a BTC business and I need the coins for the float on my exchange. Liquidity perhaps, some sort of every day utilisation then that starts to become or a reasonable risk at least.
I would say the same thing if you bought all silver bars.  IF you are a jeweller then fine, thats fair enough to go leaning into overstocking it but to have no use and overstock something is plain speculation.

A sensible amount of holding gold for anyone at all, people reading this or your grandma even is about 10% so I'd say the same for BTC.   You may never need the gold or the gov might raise interest rates to 10% and the price of gold falls.    With BTC, we might see it rise and it is a needed product or again we might see it redundant.  Nobody knows for sure, I would guess gov cannot raise rates to 10% nor that btc is easily replaced but we'll see.


Also do we have the transaction link for the 640 btc, or is that not posted for security perhaps
He needs a security advisor.  Can a paper wallet be printed out via 3d printer, paper sounds a bit weak 

[wachtwoord]

A sensible amount of holding gold for anyone at all, people reading this or your grandma even is about 10% so I'd say the same for BTC.   You may never need the gold or the gov might raise interest rates to 10% and the price of gold falls.    With BTC, we might see it rise and it is a needed product or again we might see it redundant.  Nobody knows for sure, I would guess gov cannot raise rates to 10% nor that btc is easily replaced but we'll see.

Bitcoin appreciates quickly, what is 10% now is over 50% in a year if we adhere to the historic value increase of Bitcoin. So either sell/buy frequently, or don't care too much about the relative allocation in your portfolio.

[jgray]

I am back Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.

[Alley]

haven't really been following the price that closely. I check every so often

I don't believe that for a second.  But I applaud your investment.

[Dalmar]

I am back Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.

Good to know you did not capitulate in the 300s.

Also, be careful.. this could just be a bear market rally that fails to make new all time highs.

[Ohh Pewee]

I am back Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.

THIS ^.  STRONG HANDS.

[davidgdg]

I am back Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.

What was your buy price ?

[maker88]

I am back Been busy doing other things since I sold my house for bitcoin, and haven't really been following the price that closely. I check every so often and lo and behold it is back to $660+ right now!!!!!!! Well it looks like my $400K investment is going to make me a millionaire very soon. Now back to what I was doing... enjoying life.

YOU ARE THE MAN. HODL!

[saddambitcoin]

Wow!  Congratulations for holding.  Now I wonder when Veronica will return.

[MoreFun]

Wow!  Congratulations for holding.  Now I wonder when Veronica will return.

Wait for $4k to see her again.  

[STT]

Whose Veronica, someone from 2012?

Bitcoin appreciates quickly, what is 10% now is over 50% in a year if we adhere to the historic value increase of Bitcoin. So either sell/buy frequently, or don't care too much about the relative allocation in your portfolio.

He would be very lucky if that was the case.  You are right, rich people have different priorities to people earning just to eat.    Theres an investment principle of rebalancing on a regular basis, depends on the time frame but could be yearly.   After all BTC did go up previously and back down and people who sold too much regretted it when it later went up even further.  
    Traders pay to rebalance much more then yearly but as an investment its fine to just keep checking in and taking some out for gold or whatever.     He doesnt have to overreact on this and rush to sell it just because today its over 10% but at some point, yes take profits or distribute gains over more then one idea is sensible

My main argument was to secure his costs of living and generally be stable not gambling everything, but thats what traders do.

[seleme]

Now when price is back in your region, you should really think of selling half or so to be on the safe side.

[Swordsoffreedom]

Whose Veronica, someone from 2012?

Shes from the other thread where she gave up on Bitcoin because she made a fiat loss after only holding the asset for 3 months
Seems to have come back from the dead recently

[freebit13]

Whose Veronica, someone from 2012?

Shes from the other thread where she gave up on Bitcoin because she made a fiat loss after only holding the asset for 3 months
Seems to have come back from the dead recently

She was in the Wall Observer thread yesterday during the free beer fest.

[picolo]

What average price did you get per bitcoin?

You made a statement and took a chance with getting that many bitcoins, you could get extremely wealthy

[pinksheep]

Someone offered to give Veronica a free BTC to make up for her loss. Anyone know if it happened?

[beetcoin]

i hope OP is not putting all of his eggs in 1 basket.. that'd be a bad idea.