We don't advise this but some guy did it.

[MagnificentX]

Just today while listening to music, I came across a Binance ad that made me remember this thread and I think I should share it because it is important for investors to learn this things or aspect of Bitcoin directly from the trusted wallets.



You do not need to buy a full Bitcoin to start your investment journey and many people still fail to learn this. You can start with what you have and continue gradually till you get to where you want. It does not have to $100,000 before you start investing. If you want to start Bitcoin investments with a big start up dream, you might end up being a no coiner or a low coiner because you may get a loan to start and at the end be forced to sell off your coin untimely.

[Ultegra134]

This guy did it but we never learned what happened next. Was this guy screwed over in the end? Did he hold his Bitcoin till 2017's major uprise or perhaps till now? His account has also been deleted, so there's no way to actually do a follow up. That's a huge risk, he took an equity loan on his house, risking ending up without a house for what we could easily call a gamble. It's very likely that this amount of Bitcoin has been sold in the next bear cycle (or any major price increase in general) he went through. I'm hoping he ended up making the money back and a decent profit for his risk. His account being deleted isn't too optimistic though, I hope I'm wrong.

[Smartprofit]

In my opinion, fortunately, or perhaps unfortunately, there's no definitive guide to how we should act in life. If such a guide existed, everything would be much simpler. We would act strictly according to the instructions and be happy. 🤵

Personally, I'm not ready to take out loans or credits. I'm also not ready to take out loans to buy Bitcoin. But maybe I'm wrong. Maybe I just lack the adventurous spirit to succeed in life. I think taking out a loan to buy Bitcoin in 2017 was incredibly scary.

I remember 2018 and 2019. Back then, I didn't even want to hear about Bitcoin. I was going through my first Bitcoin bear market, and it was very difficult psychologically. And this guy, it turns out, was paying off his loan at the same time, simultaneously expecting the price of Bitcoin to rise. In my opinion, he's a real hero! I couldn't do that.  On the other hand, perhaps it is precisely these actions that allow a person to become rich and successful. 💫

[DiMarxist]

Well the conversational believe is that you should always go by laid down principles and ideas others has laid down and one of such is not taking a loan to investing in Bitcoin. Of cause there are allot of points that people will bring out to discourage this person that took loan to invest in Bitcoin. What we have to know is that there are people who can take the risk, knowing what the gain that they are going to make in the process. But the disadvantage of this is that Bitcoin as an asset is volatile and this means that Bitcoin can remain low below your entry point were you bought it. And this will lead to accumulating more interest on the loan which has been collected.

[MagnificentX]

Of every post that I've gone through including mine before now, there's something that struck my mind and for that reason I think the young man deserves a little or more of accolades. It is only someone who must have good view of something that can do what he did and so many people are not seeing it from that perspective. A person with little knowledge about something will not go all in for it to the point of taking a loan worth such huge amount but rather I think the person knew exactly what he was doing when he made that move.

Now the account on Reddit was even deleted to show to some point that he didn't want no body to know his whereabouts or even know anything about him. I believe he knew what will come about of Bitcoin and decided the risk would be worth it so why not take it.

[nesso]

Yeah i saw this story before for me taking loan for bitcoin is very risky. Maybe he was lucky maybe not nobody knows. Most people cant handle monthly payment stress. Better invest only money you don’t need soon. Easy to say after 9 years but at that time it was not clear at all
What do you think guys would you take loan for btc or too crazy for you?

[Renampun]

This guy did it but we never learned what happened next. Was this guy screwed over in the end? Did he hold his Bitcoin till 2017's major uprise or perhaps till now? His account has also been deleted, so there's no way to actually do a follow up. That's a huge risk, he took an equity loan on his house, risking ending up without a house for what we could easily call a gamble. It's very likely that this amount of Bitcoin has been sold in the next bear cycle (or any major price increase in general) he went through. I'm hoping he ended up making the money back and a decent profit for his risk. His account being deleted isn't too optimistic though, I hope I'm wrong.

It is true that there is no further information from the decision he made, whether he managed to continue to hold Bitcoin until now or whether he had sold all the bitcoins he owned when the drop was so severe. but if he managed to buy Bitcoin and hold it until now then it is very likely that he has become a billionaire for now because of the large number of Bitcoins that he has bought from those early years. but still the decision he made was so risky for an equity loan on his house because if the investment he made did not go according to his strategy then he would lose his property. and people don't need to follow him this way.

[Mene_rence]

Oh my! What a risk?
Any ways, what is life without risk? It's even risky not to take risk in life but however, let it be a calculated risk.
To me, I believe that guy did his analysis and homework well, though he was afraid but still went ahead to take the loan.
One lesson I've learnt in life is that, when you want to do something, go ahead and be ready for the consequences without giving any attention to what people will say. People will always say something regardless, don't take their applause so their criticism won't get to you.

As for me, I really can't take that risk, but thank God the guy did.

[lixer]

Doing something crazy happens very rarely, we do not advise it because this dude did it once at the right time and he had the chance to do it so he was lucky to profit from it. Like today, do I know that bitcoin will go down in this year?

I do, does that mean if I sell my house as well, and do DCA and buy bitcoin a bit every month all through this year, I would buy near the bottom and have good DCA? I would. Does that mean in 3-4 years I would have a great profit and I would be getting richer? I would. Do I sell my house then? I won't. Not many would take that risk at all.

[Nothingtodo]

Oh my God, it is really risky to invest in Bitcoin with such a large amount of dollar loans. It is not risky for those who have a lot of outsourcing income and reliable business organizations and regular income sources. But for those who do not have a source of income, it is really risky to invest in Bitcoin with such a large amount of loans. In my case, if I can say, I will never invest by taking a loan from a bank or any other source. Because I do not have any regular income source to repay this loan. Moreover, taking a loan for long-term holding is really stupid and very risky.

[RoGr780]

I hope it turned out well for this person, even though the action and the logic itself is wrong, very much so.

As you said - no investment is done with funds you cannot see gone.. And taking loans to do it - that's just wrong on all the levels.

[Haunebu]

Holy cow! That is one heck of a loan. He is one massive believer of BTC. Am guessing he sold it all when BTC spiked a bit way back then for reasonable profits since he would require balls of titanium to HODL all the way until it reached 100 grand or higher.

High risk, high reward basically. You can do a similar thing by going all in on a game where there is 0 or close to 0 house edge(Dice etc).

[Rain1620]

https://i.ibb.co/sJq5tptm/cryptoinvestor.png

So this guy, from 9 years ago took a $325k loan to buy 191 BTC. A dumb idea for most people including me and the same thoughts of people who's seen this from a reddit post almost a decade ago.

If you guys read it from that post : https://www.reddit.com/r/Bitcoin/comments/6a3lvd/today_i_took_out_a_325239_equity_loan_on_my_house/

You'd see people who might be of the same opinion as you.

We highly advise not to take any loans just to invest in Bitcoin. It's still best to have nothing to worry with monthly payments and interest as you invest in it.

The guy has deleted his account, we don't know what has happened after all of these years. But maybe he's sold already from the past cycles and probably still hold some, no one knows.

Somehow, as time flies we can look back at time from now and call this man a Legend or even a genius this is because Bitcoin has hit high elevations, but then, with all honesty it’s not advisable to put a roof over your head or any of such properties on the course of being a successful investor. Taking  such outrageous amount of equity loan to get volatile assets is typically putting down the house as a collateral or even betting the house, One doesn’t need that kind of life threatening Risk to build wealth.

It is more suitable and safe to invest what one can afford from initial income, this prevents high interest loan payments, retains your peace of mind even during fluctuations and avoid certain risks where banks gets to seize ones property or assets. Though sometimes it’s okay to take risk but a calculated risk is noteworthy than a desperate risk.

While this genuis actually won on this game for most people, it’s still more advisable to invest only what you have at the moment because owning one bitcoin that’s actually yours is accountable and much more better than 100’s lying with uncertainties.

[Chifather247]

In all I'm a strong beliver of DCA, i really wish each and everyone of us can adpot this strategy while investing

[Crypto Library]

This is online and crypto space and that is why I wouldn't say that those all person who says that person as idiot all are wrong because in my personal opinion I think that the first term crypto investment is invest as much as you can afford to lose. And the main reason for this I think that this is the online space and if you are holding in your wallet or in your centralised items both can be hacked by fishing and also your funds could be fully vanish from you. I have seen multiple story that persons holding for more than 10 years but lost all because of fishing attack just one click.  And also there is anything any emergency situation can come over and for handling that we may have to sell our bitcoin at loss

[Maslate]

There are investors who managed to stay calm and not greedy with their investment, but there are also those kind of people who want instant wealth and quick profits. So taking a loan get normalized, until losses become visible and end up struggling how to pay their bills and loans.

Investing isn't really hard to understand, but people make it complicated by making big decisions that aren't well studied first. This is the reason why a lot are losing due to greed and uncontrolled emotions, due to their high expectations that are almost impossible.

[CryptoYar]

[...]

Although Bitcoin has climbed to huge high at end of last year but its recent drop to around 60,000 has been tough for those who rushed into crypto-world without proper research in using high-interest loans and too much borrowed money.
In comparison, these traps are avoided by those called careful investors who do not focus on difficulty of earning interest, risky bets but other simple, patient plans such as DCA.
Secret to staying safe is to view Bitcoin like digital building blocks and keep your feelings calm otherwise, if you view it as get rich fast plan, you will be like thousands of people struggling to pay their basic bills because they bet on something that was impossible.

[vanesha]

I think that person is probably enjoying their wealth now. But no one really knows where they are today, or whether they managed to HODL until becoming rich, or sold early—no one knows. Still, the story you shared is interesting. If that person managed to sell at the best price, they might not be poor for generations to come. Starting only with borrowed money, they could have made millions of dollars from Bitcoin’s rise.

[melinoe]

I think that person is probably enjoying their wealth now. But no one really knows where they are today, or whether they managed to HODL until becoming rich, or sold early—no one knows. Still, the story you shared is interesting. If that person managed to sell at the best price, they might not be poor for generations to come. Starting only with borrowed money, they could have made millions of dollars from Bitcoin’s rise.

it's still the biggest risk they took in their live probably.. i hope they are ok, but they probably shouldn't of do it, only if there is no turning back and they have no other options.

[SusanVac]

I think that person is probably enjoying their wealth now. But no one really knows where they are today, or whether they managed to HODL until becoming rich, or sold early—no one knows. Still, the story you shared is interesting. If that person managed to sell at the best price, they might not be poor for generations to come. Starting only with borrowed money, they could have made millions of dollars from Bitcoin’s rise.

I’m also really curious what’s up with him now. Did he cash out after the first big pump or later? Did he lose the wallet key? 

Honestly, that was pretty bold back then. Either he somehow knew and believed the pump was definitely coming, or he’s just the luckiest guy in the world. Either way, the risk was way too high and taking a loan for crypto isn’t worth it. Better to use your own money. Slower, sure, but no debt.