I'm All In - Sold My House!

[Wilhelm]

Bad investment 

Home was worth $400K and he only got 648 BTC which is only worth $259K at todays prices

He basically gave his house away super cheap and should be sick about it 

Plz come back when the block Reward halves so I can laugh at you

True but I would feel sick to my stomach in the meantime

[Seketsuna]

Bad investment 

Home was worth $400K and he only got 648 BTC which is only worth $259K at todays prices

He basically gave his house away super cheap and should be sick about it 

Plz come back when the block Reward halves so I can laugh at you

True but I would feel sick to my stomach in the meantime

PD will save him, the only thing he has to do is GAMBLE THOSE BTC

[picolo]

Bad investment 

Home was worth $400K and he only got 648 BTC which is only worth $259K at todays prices

He basically gave his house away super cheap and should be sick about it 

Plz come back when the block Reward halves so I can laugh at you

True but I would feel sick to my stomach in the meantime

He invested to make a long term profit and he may not have sold at 400K$ while he was having costs to maintain the house. He has no cost to hold BTC.

[Ruthful]

He invested to make a long term profit and he may not have sold at 400K$ while he was having costs to maintain the house. He has no cost to hold BTC.

Unless he was living in that house(and even that ) I don't think the annual cost of maintaining a house would be that  much a factor(depending on the condition of that house and where it's at), he could always rent it to offset that and made some money in the meantime.

In order to  make an actual investment comparison we need to also know the potential profit from keeping the house (though rents e.g) and t how much the property value have changed since then.Do we have any of that info?What we know is the current price of bitcoin and from that we know that he have lost money.

[sidhujag]

Hes probably renting and working in the oil industry in alberta.... Hes young so i do blv he sold the home for btc.. He doesnt really care short term because he wouldnt know how to trade...

[picolo]

He invested to make a long term profit and he may not have sold at 400K$ while he was having costs to maintain the house. He has no cost to hold BTC.

Unless he was living in that house(and even that ) I don't think the annual cost of maintaining a house would be that  much a factor(depending on the condition of that house and where it's at), he could always rent it to offset that and made some money in the meantime.

In order to  make an actual investment comparison we need to also know the potential profit from keeping the house (though rents e.g) and t how much the property value have changed since then.Do we have any of that info?What we know is the current price of bitcoin and from that we know that he have lost money.

He made a big bet on Bitcoin, he says it was hard to sell the house for fiat. It is a bit weird that it is easier to sell in Bitcoin than in fiat.

You can collect some informations here :

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

If the house was sold in March 2013 he would have made 4000-8000BTC or if he sold the 400K home for 300k$ then bought BTC he would have got 3000-6000BTC instead of the 600ish he got

If the house was all his net worth he should have considered "only" investing 50% in BTC and 50% in other assets but you have to respect the commitment and hope it will pay back well!

[bigcoin678]

Good decision IMO

[Robert Paulson]

just wait, this will be the trade of the century when the house of smoke and mirrors of the current economy collapses.

[NotLambchop]

just wait, this will be the trade of the century when the house of smoke and mirrors of the current economy collapses.

...and we all become
~fabulously wealthy~

[sidhujag]

Hodl until u r happy

[pizzabit]

never put more in than u can lose
good luck with ur investment

[sidhujag]

Not unless he sold.. How do u lose a shirt thats free? He inherited the house plz reread

[sidhujag]

Just read the op u douche before making wild comments... Dont scoop down to the lows of the teenie boper noobs on here unless u r 1

[sidhujag]

 :DU read the cbc link too? Says right in op it was inherited! How domu read 31 pages but miss that?

[sidhujag]

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 Smiley

[sidhujag]

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 Smiley

RU OP?

Does it matter! Im a programmer on an ipad i dont care get the point

[picolo]

Just read the op u douche before making wild comments... Dont scoop down to the lows of the teenie boper noobs on here unless u r 1

I read the whole OP on your suggestion, didnt make a lick of difference. Boring as shit content that i dont give a fuck about, with no OP updates. BTW i <3 JB!!!

Last Active:    October 14, 2014, 07:13:17 PM

Maybe it is an alias and he has an other bitcointalk account

[sidhujag]

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 Smiley

RU OP?

Does it matter! Im a programmer on an ipad i dont care get the point

Yeah it matters! ffs, you just proved my point.

No im not op lol anyways he inherited it thus its highly unlikely that he was dependent on it

[dadugan]

Think owning house is more prudent at this stage.

[picolo]

Think owning house is more prudent at this stage.

Owning a house is better than having fiat but you have to pay reparation costs, taxes and the upside is very limited