I'm All In - Sold My House!

[STT]

My point exactly.  Bitcoin has more in common with Beanie Babies than with the internet.
To make the internet analogy work, Bitcoin (the units) should be compared to IPv4 addys.  Invest in one now, the supply is limited and already running out!

That does not compute.  IP address is unique and must stay that way where as bitcoin is really not the base unit of this currency standard.   Alot of us know its really about Satoshi and how that progresses, a bitcoin is for rich kids and most of the world is not rich and wont own a whole coin especially as price would rise with greater propagation
How many satoshi per world population, this is the true dynamic behind usage.   The ease of small purchases and speed, security for even the most humble economies.   Its not especially rare in that way but we can see that price will rise.
  Was it good to sell a house?   depends if he had any use for it really, maintenance and insurance is an argument but if its all his money it should not be in one single asset.

[ElysianBaws]

respect to sell your house for btc...I just read it now=p

[dha]

...
Only loose when you sell at a crap price.

In that case, let me sell you some shares in my gold synthesis business.  It's a great deal, 'coz you can't lose!  Just never sell.
How many should I put you down for, friend?

Depends on what you are investing in obviously. It needs to be something that is developing.
I'm pretty sure the price per bitcoin will be higher than today's price at some point in time. And also that it will be lower at some point too.

Your gold synth business thingy I have no knowledge about so I'll pass.

should have put the irony flag out

gold synthesis...lovely


 

[nextblast]

this guy is a fucking idiot who has no respect for money what so ever.

There's this guy named ZhaoDong in China, who sold his house in Beijing, and bought BTC, all in.
Now his wealth have more than trippled. He built a mining factory and it mines over 200 BTCs a day.

[wachtwoord]

this guy is a fucking idiot who has no respect for money what so ever.

Respect for money? I'm all for respecting other people's property (including money) but his own money is his to do with as he pleases.

[Oldminer]

this guy is a fucking idiot who has no respect for money what so ever.

lol

I like how this mor..dude..hasnt posted in this thread since June 

Dumbo..

[CoinCidental]

If It was spare money i don't see the problem

 Im sure  he's not posting from a cardboard box so it was likely a spare house
 that he didn't live in anyway

It will take the next ath  which maybe anytime in the next 0.5-2 years and he might  be
able to buy the whole  street  .... 

[TheDragonSlayer]

If It was spare money i don't see the problem

 Im sure  he's not posting from a cardboard box so it was likely a spare house
 that he didn't live in anyway

It will take the next ath  which maybe anytime in the next 0.5-2 years and he might  be
able to buy the whole  street  .... 

Its high risk, what if bitcoin drop half instead?

[hugger]

I guess you don't have a wife or a child. Right?

[picolo]

If It was spare money i don't see the problem

 Im sure  he's not posting from a cardboard box so it was likely a spare house
 that he didn't live in anyway

It will take the next ath  which maybe anytime in the next 0.5-2 years and he might  be
able to buy the whole  street  .... 

Its high risk, what if bitcoin drop half instead?

He will have invested and lost; I think if you think Bitcoin will succeed and you have 100,000$ in your bank account, a good salary and no debt, it is reasonable to invest 10,000$ or 20,000$ in Bitcoin; maybe 30,000$ if you are willing to take a lot of risks

[CoinCidental]

If It was spare money i don't see the problem

 Im sure  he's not posting from a cardboard box so it was likely a spare house
 that he didn't live in anyway

It will take the next ath  which maybe anytime in the next 0.5-2 years and he might  be
able to buy the whole  street  .... 

Its high risk, what if bitcoin drop half instead?

Then he loses half the value of the investment,  did you really need to ask?

Why would he cash out though if the price is not satisfactory?

From what he has written he didn't live at that house anyway so it's a gamble of course but if he can afford   it I am of the opinion it will  pay off over a long enough time frame and it will turn out to be better than taking 400k in dollars but only time will tell

[NotLambchop]

...
Why would he cash out though if the price is not satisfactory?
...

Because the price is getting less satisfactory by the day?

[CoinCidental]

I guess you don't have a wife or a child. Right?

Wrong, I have both and I also am  heavily involved in btc and I believe it has a bright future but it needs time to realise it's potential and people who are only in to see quick returns will probably get skinned alive by bigger fish that can afford to ride the waves    

[abercrombie]

How is selling the house to buy bitcoin working out so far?

Working out great!   

[CoinCidental]

...
Why would he cash out though if the price is not satisfactory?
...

Because the price is getting less satisfactory by the day?

I see that as a positive because the rate of adoption is currently  too low and new  people are unlikely to buy in at 1200+usd
per coin

This will help raise  the overall price eventually, the guy with the house is obviously a believer in btc like myself so he would rather take the btc than the 400k Canadian dollar

If I had the same choice, i would also prefer the Coins.....

Its only crazy if it's all you've got, it might be a small fraction of his net worth for all we know

[NotLambchop]

...
Why would he cash out though if the price is not satisfactory?
...

Because the price is getting less satisfactory by the day?

I see that as a positive because the rate of adoption is currently  too low and new  people are unlikely to buy in at 1200+usd
per coin ...

So...  If the price starts going up, you'll get worried, right?

Pro trading tip:  Buy low, sell high.

[yefi]

Its only crazy if it's all you've got, it might be a small fraction of his net worth for all we know

He inadvertently admitted otherwise. It's a minimum of 43%.

[riiiiising]

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.

holy shit, man. I wonder if he's checked it lately?

[abs350]

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.

holy shit, man. I wonder if he's checked it lately?

I feel really bad for this guy

But he's probably not alone

[xmasdobo]

How is selling the house to buy bitcoin working out so far?

Working out great!   

That's funny but actually sad. If OP did really do that stupidity and didn't save anything, he is going to end up like that.