You get paid when you sell but you make money when you buy.
It is not easy to determine when to get into something. When buying, we always want lower prices. Sadly, sometimes things take off.
Is BTC a good buy at this point? If it goes to $50K, then it is a steal. On the other hand, if it goes to $10K, it is poor.
So it is hard to tell. That is why long term vision often an help us offset some of the risk.
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I'm always thinking of the Dutch guy who sold everything he owned (house, belongings) for BTC, when it was around $8200 if I'm not mistaken.
It's not an easy decision for sure and full of risks, but as you say, if it's long term, things change.
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He might have lost his wife through that but, if he is still hodling, he is far ahead of where he was. LOL
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Noooo, the family is together, they are on the road, with a crypto caravan, traveling the world publicizing crypto. They got their own show and are paid for it.
I was wondering if he was smart enough to buy his house (or any house) back after the last bull run. What would you have done in his place? Would you have bought the house back?
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Nope.
Real estate is nowhere near as good an opportunity as Bitcoin.
At some point, you want to turn the profits into something more income based.
However, with interest rates what they are, finance the house, especially since there is TV money there.
Selling BTC, other than trading/profit taking, below $100K is insane.
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Many sold their homes when it was peaking the last time around and hot burnt. Even at $8200 the guy must have been a nervous wreck for the last year or so and who says he didn't sell for a loss. They say only invest what you can afford to lose.
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I guess if you can afford to lose your house and live in a tent, then it is a worthwhile risk.
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Lol. I would if I didn't have a family. This will definitely pay off and the only thing is we don't know the time frames involved. Living in a hole I can do for a year or two but 10 years maybe not. Whatever we put in now I expect 10 or 100 x back at some point but it will be something worthwhile and it is not really a sacrifice as it is also fun.
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Well, call me old fashion but selling your home and gambling with it is not an option.
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Hi, Old Fasion.
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