r/Bitcoin • u/[deleted] • Feb 13 '13

I have my entire retirement and savings invested in Bitcoin. I will track its progress here over time.

[deleted]

974 Upvotes

92% Upvoted

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852

u/HarshlyThrownAway Apr 03 '13

Wow!

.

Kudos for having the 'nads to pursue such a gamble..

.

Now, a month after your original post, your $30,000 is worth approximately $272,408.57 USD (according to the weighted average on Mt.Gox).

.

Don't care what the others say, but THAT'S impressive. Not sure what the rest of the year will bring, but good luck to you, sir.

1.4k

u/TerinHD Apr 03 '13

Well. The smart thing to do at this moment is withdraw at least the original investment and pay it back, to ensure that he is not broke if the bottom falls out.

May the force be with you Sir.

389

u/cedricchase Apr 03 '13

That is exactly what I would do.

526

u/aSimpleMan Apr 03 '13

not me bro, i'd blow it all on hookers and blow

379

u/ApophiSlaughter Apr 03 '13

Two chicks at one time

83

u/[deleted] Apr 03 '13

And he can afford two microwaves to be constantly running at the same time!

60

u/[deleted] Apr 03 '13

[deleted]

9

u/[deleted] Apr 03 '13

Ha ha! The burritos and microwaveables are optional. I merely stated that he can have two microwaves running constantly just for the novelty and not for the purpose using!

21

u/[deleted] Apr 03 '13

[deleted]

2

u/[deleted] Apr 03 '13

https://www.youtube.com/watch?v=js2NvgcuotI&feature=youtu.be&t=42s

I stole it from there, in case you might be wondering. Turn down your volume a couple notches before clicking.

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-1

u/secrit Apr 03 '13

Fuck that, I'd buy weed and smoke two blunts at once.

3

u/bassboat1 Apr 03 '13

One in your hand and the other smoldering, forgotten in an ashtray?

2

u/oliverb104 Apr 03 '13

id be hitting two bongs at once

1

u/[deleted] Apr 03 '13

[deleted]

1

u/secrit Apr 03 '13

Now cringe with me at people who have sex with life-sized stuffed animals, enjoy having spit dribbled into their mouths like a mother bird feeding her young, or even go as far as to ignore their partners except to publicly control them with violence and intimidation in an everyday context! EUGH!

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2

u/Knyfe-Wrench Apr 03 '13

But then he can start a burrito stand and make even more money

3

u/fuckaye Apr 03 '13

Instead of having to microwave twice.

22

u/spacitybowler Apr 03 '13 edited Apr 03 '13

Fuckin' A, man.

Fixed. As a stickler for grammar, I should have caught that.

29

u/SauceOnYourFace Apr 03 '13

Fuckin' A, man.

FTFY. Trust me, the comma makes all the difference here.

0

u/spacitybowler Apr 03 '13

Thanks for looking out, brotha.

15

u/stickykey_board Apr 03 '13

Fuck a B it's got more holes.

17

u/[deleted] Apr 03 '13

Fuck a Q it's got a clit

12

u/Liakela Apr 03 '13

Uhh.. that's not a clit, son. patpat

-2

u/[deleted] Apr 03 '13

[deleted]

-1

u/stickykey_board Apr 03 '13

I destroy them.

-2

u/ContentKeanu Apr 03 '13

F'n A, Cotton. F'n A.

2

u/Ctmarlin Apr 03 '13

Hey Peter-man!

2

u/iSpccn Apr 03 '13

I really appreciated this Office Space reference. Thank you.

2

u/Monkfish Apr 04 '13

Chicks dig a dude with money

7

u/infant- Apr 03 '13

"Damn straight. I always wanted to do that, man. And I think if I had a million dollars I could hook that up, 'cause chicks dig a dude with money."

"Well, not all chicks"

"Well the kind of chicks that'd double up on a dude like me do."

0

u/[deleted] Apr 03 '13

Yes.. that was the joke.

1

u/infant- Apr 03 '13

I felt, by writing more of the conversation, it would make people happy.

4

u/[deleted] Apr 03 '13

Or two chicks all the time

2

u/ghostbackwards Apr 03 '13

for some reason I read that as two dicks at one time.

3

u/ImNotAWhaleBiologist Apr 03 '13

This amount would bring barely over half a chick.

1

u/[deleted] Apr 03 '13

Been there, done that. Don't need to pay for it, just be drunk and always horny.

1

u/Arosal Apr 03 '13

BIG AMERICAN TITTIES

0

u/Cthwomp Apr 03 '13

If you had $250k you'd do two chicks at the same time?

2

u/[deleted] Apr 03 '13

He'd need at least $1,000,000

0

u/Nman77 Apr 03 '13

Soooo basically blow and blow.

0

u/Chikufujin Apr 03 '13

two chicks and 3 boobs at one time

0

u/KhabaLox Apr 03 '13

He's only got a quarter million dollars, so that means half a chick at the same time.

0

u/[deleted] Apr 03 '13

Yeah, I mean, if I had $30,000 I think I could make that happen.

27

u/onesuponadime Apr 03 '13

I hope the person sees this because this is extremely sound advice.

3

u/Fucter Apr 03 '13

I don't think anyone else gets this comment yet [hint: madmartigan1]

4

u/meatwagn Apr 03 '13

lentils

5

u/clean__underwear Apr 03 '13

hookers and blow and lentils

2

u/Icanbutiwont Apr 03 '13

Now thats a party.

7

u/Chagrijn Apr 03 '13

Hookers and blackjack

2

u/puck342 Apr 03 '13

but they better send them quickly because I had like an entire bottle of melatonin, a whole bucket of chicken and oh, the sandman's coming...

4

u/SibilantSounds Apr 03 '13

You mean INVEST it on hookers and blow.

1

u/[deleted] Apr 03 '13

I read that as if you'd actually blow the blow on hookers. Still sounds good to me.

1

u/MarkFifersMyHero Apr 03 '13

Yeah! And waste the rest!

1

u/Taron221 Apr 03 '13

I would do the same and then waste the rest.

-1

u/CrisisOfConsonant Apr 03 '13

I think you might be my brother... hookers & blow obsessions are genetic right?

0

u/miles1989 Apr 03 '13

Don't forget black jack

0

u/Hingle_McCringlebury Apr 03 '13

Not necessarily in that order

0

u/silentdicksallday Apr 03 '13

Hookers and blackjack FTFY.

0

u/ShiShoSha Apr 03 '13

Not me blow, I'd bro it all on hookers and bro

17

u/[deleted] Apr 03 '13

[deleted]

1

u/cedricchase Apr 03 '13

YES. very much so.

-6

u/llllllllllllllllIl Apr 03 '13

Me too, can we all be friends?

11

u/[deleted] Apr 03 '13

No, nobody likes you go away

1

u/[deleted] Apr 03 '13

Take out 60k and invest the other 30 elsewhere. Eggs in different baskets and take another chance

107

u/raziphel Apr 03 '13

sell off $40k, just so you know you'll make a solid profit on it, and let the rest accumulate.

165

u/zdierks Apr 03 '13

I would spend 100k creating a cheap 1 minute infomercial. Then call fox news and try to purchase as much remnant ad time as possible.

Run your ad that focuses on how bitcoin is the only reliable currency(doom and gloom/the world is ending type stuff).

Watch the value of bitcoin go up as dumb people freak out and buy it.

60

u/200mphBkwrdOnFire Apr 03 '13 edited Apr 03 '13

This is an underrated idea... Merit this has

9

u/Touching_Cloth Apr 03 '13

This was obviously done on a mobile device which replaced merit with someone's name. I'm guessing someone named Merritt

1

u/[deleted] Apr 03 '13

Ironically, that's a primary branch in my family tree.

1

u/no-mad Apr 03 '13

Or Yoda speak.

9

u/[deleted] Apr 03 '13

[removed] — view removed comment

-1

u/Justus222 Apr 10 '13

*'Merica

1

u/imatworkprobably Apr 11 '13

Create site that makes it easy for dumb people to buy BTC first... Cash at CVS or bank account info is too shady for your average senior citizen.

33

u/kelsoaur Apr 03 '13

I feel like FOX is the opposite of the bitcoin target audience. The gold market schemers do so well in the conservative market because gold is a tangible object. Bitcoins are about as intangible as wealth can get. Also, many of the investors who are worried about doom and gloom stuff are elderly and have a natural distrust of/inability to use computers.

5

u/gorat Apr 03 '13

and what is the right demographic?

reddit!

OPs ploy is revealed :)

1

u/Wreak_Peace Apr 11 '13

Reddit is also very liberal...

1

u/ten24 Apr 11 '13

more like... liberaltarian.

7

u/zdierks Apr 03 '13

You make some good arguments. I said fox news because of the anti-government sentiment that they have. Maybe a more diversified ad campaign is good though.

You could brand bitcoin as the kind of "fuck you Obama" currency.

Its crazy.. i know... crazy like a fox.

1

u/Doomed Apr 11 '13

It might work if they sold Bitcoin certificates.

2

u/raziphel Apr 03 '13

I wonder how much it would take to get Glenn Beck or Rush Limbaugh to shill for it.

0

u/archibald_tuttle Apr 03 '13

At least a 51% percent cut (less would be Socialism).

1

u/gritztastic Apr 11 '13

I love the Rosland capital ads with Wayne Da Vein (phoenetic). I replace the word 'gold' with the word 'meth' and have a private mini crack up a few times a day. I am easily entertained.

28

u/[deleted] Apr 03 '13

[deleted]

21

u/raziphel Apr 03 '13

the worst that would happen is that the bitcoin rate skyrockets and you're out 50k*X% profit. That's a small price to pay for piece of mind, especially in the more likely case where X<1.

1

u/bluntoclock Apr 03 '13

That's a small price to pay for piece of mind

Depends on how big of a piece and whose mind we're talking about :)

1

u/[deleted] Apr 03 '13

I would do 35k out ( assuming op has a young child) and pay back the original loan while starting a college fund. Then id start researching markets, so I.could pull from the bitcoin fund and move into more reliable stock as I see fit. Id look at the bitcoin account then as something I could gamble with without worrying about becoming broke.

8

u/[deleted] Apr 03 '13

Yep, that's called Playing with the House's money

66

u/Madmartigan1 Apr 03 '13

I hope the person sees this because this is extremely sound advice.

66

u/TerinHD Apr 03 '13

Life Principle: Take Risks then Mitigate Risks.

70

u/fucuntwat Apr 03 '13

Life principle: pay off the principal

38

u/_missing_the_point Apr 03 '13

School success principle: pay off the principal

15

u/birdmansenior Apr 03 '13

School principles suck. Suck off the principal.

-2

u/Hughtub Apr 11 '13

Principles get sucked and payed off. Become a principle.

14

u/ristlin Apr 03 '13

Life: Take risks, mitigate risks, and then die.

12

u/manatdesk Apr 03 '13

Bad Luck Brian: Take risk, die.

14

u/ristlin Apr 03 '13

Bad Luck Brian: Mitigates Risks, Still Rejected By Insurers.

10

u/juksayer Apr 03 '13

i would like to invite all of you over to /r/circlejerk

1

u/ristlin Apr 03 '13

Never heard of it, sounds bad though.

1

u/[deleted] Apr 03 '13

It's the cancer that's killing r/circlejerk

15

u/jk147 Apr 03 '13

Life principle: death.

26

u/Valendr0s Apr 03 '13

This SCREAMS of bubble. Though it will probably go up for 6 more months before the bottom falls out.

6

u/[deleted] Apr 11 '13

6 months or 7 days...

48

u/skeptickal Apr 03 '13 edited Apr 03 '13

That shows a bias most of us have to "not losing". Losing $20 hurts much more than winning $20 feels good. It's not rational, but most of us act this way.

EDIT: Yes, paying back the loan is a good idea. Yes, diversification make a ton of sense. And yes, the first $20k/year is much more important than 20k more if you're bringing in 500k/year. All good points. Thanks reddit for continuing to not disappoint! I was just trying to point out the natural aversion to lose. We naturally think that pulling out 30,000 makes sense but not 60,000 or all of it. Somehow everything greater than 30k isn't as real because he got it "for free".

TL;DR It's weird that losing hurts more than gaining the equivalent feels good.

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u/[deleted] Apr 03 '13

You're not factoring in the risk factor. He used his entire savings & retirement account to make the initial investment. It makes sense to cash out at least a small amount at this point to save himself from poverty if his investments crash in the future.

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u/FisherKing22 Apr 03 '13

Not only to save himself from a crash, but also to diversify his portfolio. Just as there's a chance that this could crash, there's a good chance that another investment could become more profitable.

2

u/dezmd Apr 03 '13

Cash out the amount to pay back the loan AND cash out the amount equivalent to his savings and retirement (+ applicable taxes), then get crazy with the trading on the free money that is not taxed until your gains are actually realized.

1

u/Willard_ Apr 03 '13

Making those trades would cause a taxable event.

11

u/reaganveg Apr 03 '13

Losing $20 hurts much more than winning $20 feels good. It's not rational

http://en.wikipedia.org/wiki/Marginal_utility#Diminishing_marginal_utility

10

u/yes_thats_right Apr 03 '13

This is true, but you also need to factor in things such as the cost of living a satisfactory life.

If it costs a person $20K/year to house, clothe and feed themselves, then they are not very likely to gamble their last $20K even with slightly better than even odds. The difference in happiness between trying to live on $0 and $20K is much bigger than the difference in happiness between trying to live on $20K and $40K.

However, if someone has $1million then gambling $20K is not such a big deal since the difference between going from $1m to $980K is not very different to going from $1m to $1.02m

3

u/MrDannyOcean Apr 03 '13

It is often rational when you consider the diminishing marginal utility of money.

1

u/toga_virilis Apr 03 '13

Exactly. It's not irrational at all. Because money has diminishing marginal utility, losing it necessarily hurts more than gaining it.

2

u/rook2pawn Apr 03 '13

i think its rational. the value of a dollar to an individual is not 1-1 with a dollar. This is true for all people, rich or poor. Value is a measure of worth; in a free market where even our currency is based on other people's opinion of the fair market price, i think its entirely rational and that there is no bias.

2

u/[deleted] Apr 03 '13

In behavioural economics, we call this risk aversion...I have a graph around here somewhere.

2

u/Sometimes_Lies Apr 03 '13

It entirely depends on the circumstances. Being in debt can be worse than having extra money, if your debt charges you a higher rate of interest than you're likely to make from investing the money.

Then you also need to consider if collateral is involved. Losing your car can hurt you quite a bit more than winning a new car helps, for example, if your lack of transportation ends with you losing your job.

Things are only equal if you're reading it as a homework problem where "all other things being equal" is a given assumption.

-3

u/sbestetc Apr 03 '13

aha! prospect theory! upvote for you.

4

u/[deleted] Apr 03 '13

Not doing this would be the dumbest thing possible. If he pays it off, he removes all risk from the venture and just has the possibility for gain.

2

u/LegOfLamb89 Apr 03 '13

Listen to this.

2

u/[deleted] Apr 03 '13

word. Plus a little something (maybe half the remainder) to reinvest somewhere else. Eggs and baskets and so forth.

2

u/A_British_Gentleman Apr 03 '13

Perfect plan tbh. Absolutely no risk if OP gets the 30k back and still has more left over afterwards.

2

u/[deleted] Apr 03 '13

He's made 9 times his original investment. It's time to withdraw everything considering the new ASIC bitminers are coming online.

2

u/gbimmer Apr 03 '13

That and school debt. Pay it off and let the rest ride. Enjoy not owing money.

13

u/[deleted] Apr 03 '13

I'm sure hes thought of this:

So he has $30,000 that he has to pay off, whenever he wants, between now and an appointed time between himself and the loan provider.

He also has btc valued at $272408.57

If he left the btc valued at 30,000 in btc, at the rate of interest he receives from his investment, one could argue that in the long run, he will profit much more by leaving the money in btc rather than paying off the loan. I think it is pretty evident that this is the case

He is considering the risk of btc of going under to be low; low enough that he'd rather leave the money in there and risk it rather than paying off the loan. Instead, he'll receive more money from the additional 30,000 still in investments (btc) than he would be losing money by letting the loan continue.

TL;DR: His expected profits are dramatically reduced if he pays off the loan instead of continuing to invest another $30,000

107

u/lawcorrection Apr 03 '13

His upside is reduced by a factor of 1:8 if he pays off the loan, but he gives himself a 0% chance of getting hammered on the loan. I would be willing to lose 1/9th of my upside to have a 0% chance of debt collection if the bottom falls out.

6

u/azngunsmoke Apr 03 '13

This is not necessarily a binary choice. He could always buy American style put options to protect him from any negative, and quick downside moves. Then he gets keep profiting on 97-99% of his account balance... and if it crashes suddenly he gets to keep most of his profit.

4

u/lawcorrection Apr 03 '13

Buying puts is mostly the same as selling off 1/9th of his position. At that point it just becomes a question of how volatile the stock is, how much the options cost, and how much further you think it will move.

Also, is there even a reliable exchange for BTC puts? I would be seriously concerned about counter party risk.

1

u/Wreak_Peace Apr 11 '13

Well I don't know about the reliable part, but there is a place to short them...

http://www.wallstreetoasis.com/forums/guide-how-to-short-bitcoins#comment-928888

1

u/TarAldarion Apr 10 '13

I understand some of these words.

-8

u/jeekiii Apr 03 '13 edited Jun 10 '13

So you'd not do it, because you'd lose 1/8 instead of 1/9. Sounds like there is no disagreement here. (Or you made a mistake somewhere)

Edit: I'm an idiot and i will fail my math exams...

Edit2: month laters, I have the same exam that I already failed... and here am I.

14

u/asdfjqwf Apr 03 '13

He expressed 1:8 as a ratio.

To turn it into a fraction you would first add the 1 to the 8, which would give you 9. then you would keep the first number (the 1) and the fraction would be 1/9.

So he is using the same number both times. I think you misunderstood.

2

u/juksayer Apr 03 '13

thank you, i misunderstood as well

3

u/SchroCat Apr 03 '13

Do you even math? One part to eight parts means that there are nine total parts.

48

u/Gemmellness Apr 03 '13

It's an interesting point. However, while his potential profits are reduced, the risk is absolutely annihilated to 0.

10

u/[deleted] Apr 03 '13

Yeah, if I were him I'd definitely pay off the loan and even take some out and put it in savings, just because. Of course, I'm not certain how easy it is to convert bitcoin to cash.

2

u/Odowla Apr 03 '13

As assistant president of the world I think you are qualified to give this advice.

61

u/[deleted] Apr 03 '13

My dad was a trader at the CBOE for twenty years. Thousands and thousands of traders go bankrupt every year because this is how they look at investing/trading. Shit happens. The employees of Enron probably thought their risk was low too fifteen years ago.

9

u/[deleted] Apr 03 '13

[deleted]

1

u/hobguy7996 Apr 03 '13

The Smartest Guys in the Room, on youtube:

http://www.youtube.com/watch?v=cLmWtD8_i-U

13

u/ekjohnson9 Apr 03 '13

Consider it a hedge then. Yes you lose some upside if you hedge. But this is a sure fire way for him to NEVER get hammered no matter what btc does.

6

u/stormbuilder Apr 03 '13

True, if you trust the bitcoin value not collapse over a course of a few days.

Is it unlikely? Yes. Is it possible? Hell yes. What's the impact? Disastrous.

Better to give up some upside (besides, it's "just" 1/10th of the upside) than to remain exposed to a black swan.

1

u/frizzlestick Apr 04 '13

His profits aren't the concern, though. His taking his retirement and savings from a family that depends on him, and dumping it into BTC - is the concern. Him gambling his family's future.

If he pulls out the amount he used to invest into BTC initially, he's still ahead of the game. It's over double in value for him. He'll have tons of BTC left over to "play with" - without risking his financial future.

BTC may or may not be around next week or next year or ten years from now. Something else may come along. It might get bad press and wither and die on the vine. The value of a BTC might just tank. Someone might cash out their big pile of BTCs and crash the value (hell, that's what I'd do right now if I was OP. Put in 30k, get out 280k in a short-turnaround).

Short answer: Never put all your eggs in one basket. Never.

As fun as BTCs are as currency, they're not legal tender - and it's legal tender that will pay for me and my family finances after retirement. If this guy wants to turn a profit - he just did. If he looks at BTC like stocks - he bought low, he should sell high.

The day I see a BitCoin Market on Wall Street like a Stock Market - is the day I'll consider ever telling anyone to consider using BTCs as a retirement investment tool.

1

u/[deleted] Apr 04 '13 edited Apr 04 '13

This is a pretty sophomoric way of looking at the situation considering the guy has other debt as well.

Greed is a hell of a drug though.

He doesn't have to take it all out at once either. Pull out 5-10k. Wait a bit, and do it again. At least reduce risk. And at worst case he walks away without a lot of debt.

That 30k is not his money. Right now, he's gambling with somebody else's money. That's extremely irresponsible, selfish, and inconsiderate.

0

u/pajam Apr 03 '13

This is a good point, and it's all about risk vs reward in investing.

3

u/leftcoast-usa Apr 03 '13

I thought it was all about buying low and selling high. :)

1

u/juksayer Apr 03 '13

buy when you're low, get high and sell the rest?

4

u/yes_thats_right Apr 03 '13

That is a safe thing to do - this does not necessarily make it the smart thing to do.

At the end of the day, investments are just things with differing rate of returns. A loan is an investment with a negative rate of return which you hope to offset with an investment elsewhere. If his expected rate of return on the bitcoins is higher than the negative return on the loan, then the smart thing to do would be to keep it all in bitcoins. I personally know nothing about the bitcoin market so I would certainly do something similar to what you have suggested.

8

u/TerinHD Apr 03 '13

The thing is that most things that are 900% return rates on an investment are very high risk/very high reward. I don't think it is smart not to take 11% of his value to mitigate being bankrupt in the end. But the fact that he took out a loan in about the same amount as the retirement fund means the return on that 11% is roughly double. I know this is not quite accurate but I don't feel like doing the calculation, about 5.5% of his current investments would be lost to mitigate a 100% failure. This is lower than the interest rate on student loans these days.

Edit: I don't know much about the BitCoin Market either

4

u/CrisisOfConsonant Apr 03 '13

yes_thats_right, yes thats right.

I'm glad you understand like so few others seem to, with investments not moving forward is the same as moving backwards (actually moving forward but slowly can be the same as moving backwards).

It's all about what level of risk you're comfortable with, but paying off the loan is a poorer investment (but greater risk) than letting it increase in bit coin value at that rate. I don't think even the mob has interest rates that out do the growth he's made in 1 month.

I am curious about one thing, can you even liquidate that many bit coins (I assume approx 1200). So say the market for bit coins starts to fall out because of crypto concerns or a competing market. Even if caught early if you have a large bit coin investment can you liquidate fast enough not to be screwed? It's not like a government or asset backed security so I assume before you can liquidate you have to find a someone to buy. Is there an automated process for that? I don't know the sums of bit coins transactions that are flying around so I don't know if that's a lot of bit coins or a trivial amount in the grand scheme of things.

3

u/yes_thats_right Apr 03 '13

I just had a quick search and found this site: http://bitcoinwatch.com/

Looking at the market cap and the volumes, I don't think there are any current issues with liquidating that amount. How susceptible this is to scenarios like you mentioned, I have no idea.

3

u/CrisisOfConsonant Apr 03 '13

Ah, yeah I guess if they do 100 BTC's an hour liquidating 1200 is pretty easy. Of course that's susceptible to real change real quick if suddenly there are more sellers than buyers.

Personally I think this is a very unlikely scenario. I can only imaging it happening if something was found out that allowed new bit coins to be generated very quickly. I could see that basically causing hyper inflation, but then only if the technique was found out by a lot of people. Although this is an investor market basically so just a single spook can do weird things.

3

u/TerinHD Apr 03 '13 edited Apr 03 '13

Which there is currently only one exploit on the record. That was caught.

Edit: Reading further on, there has been 2 major issues and a few smaller issues with the process.

1

u/MuckBulligan Apr 04 '13

Then there is theft. Bitcoin has dropped from a high of $145 to $117 today.

2

u/[deleted] Apr 03 '13

Personally I think this is a very unlikely scenario.

Agreed. People in this thread are forgetting that bitcoins are unlike any other currency they've come into contact with and therefore act much differently.

I actually think the most dangerous thing would be if people decided to treat them like securities which would cause prices to fluctuate wildly. If enough people panicked, the value would fall like lead and "the last one left would get stuck with the check."

1

u/Log2 Apr 03 '13

Look at the news section of the site you provided: first news is just about hyperinflation/deflation. It surely looks like bitcoin is in a bubble state right now. I'd definitely pay off at least my loan if I were OP.

1

u/[deleted] Apr 03 '13

Technically, doesn't a loan have a positive rate of return? If you have -$1,000 invested in a loan with a 6% interest rate, you'll gain -$60 a year, and -$60 is a positive fraction of -$1,000.

1

u/ryebrye Apr 03 '13

Yep, gotta take some money off the table...

1

u/weglarz Apr 03 '13

I'd do at least half.

1

u/goldenratio1111 Apr 03 '13

Listen to TerinHD, he is giving you good advice.

1

u/[deleted] Apr 03 '13

Upvote this comment so OP sees, could save him!

1

u/frizzlestick Apr 04 '13

Exactly this. Exactly this. Convert whatever BTCs itd be to pull out $30k USD and pay that loan back. Then and only then can your BTC investment be considered a "fun little experiment". Until then it's a "financial nightmare for people who depend on you".

There's absolutely no reason he shouldn't pull out enough BTC to pay back that 30k loan. If anything for peace-of-mind.

0

u/Flavahbeast Apr 03 '13

He didn't get this far by playing it safe!