/biz/ - Business & Finance

>>4635961
>11k in credit card debt
how does that even happen?

>>4635961
panic selling.... sure buddy

>>4635961

Dont tell me you used credit debt to buy crypto...

DRAGONSLAYER IS REAL, CASH OUT NOW, AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>>4635961
Honestly, bitcoin tanking would be the best for everyone. It's not healthy to have that single shit coin at the top, while (technically) much better projects are left in the dust. Bitcoin going down means a better market for anyone else, and better, more specific competition as well.

>>4636029
>cash out

>>4636026
best decision I ever made

If you're worried, you can go to Tether, put your investments into Kraken USD, or something along those lines until the market stabilizes. That's what I'm about to do.

>>4636055

hahah oh boy.

>>4636058
>tether
Your are an idiot, you know that?

>>4636058

What's the rationale behind using Tether instead of just cashing out into real USDs on Coinbase? Is it just the fees you're worried about?

when in doubt, get out.

>>4636049

Oh fugg, I forgot you literally cant cash out.
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>>4636190
he can buy some nice furnishings and linens at Overstock tho...

>>4635961
Pay off your debt now if you think you ever will, or just stop paying and default. You're likely paying more in interest than your gains are

>>4636304
Nah I got a card with a nice sign up bonus. Not paying interest til late Spring.

BTC just broke 10k on Gemini. I will probably cash out half when my portfolio is 20k. For those of you who think its a bad idea to buy crypto with a credit card, stay cucked

Crisis averted

Binance has finally got it at $10K too now - literally this minute; I didn't realise how far behind other exchanges they lag.

Congrats OP, you made it.

>>4636043

I agree; I'm a bit concerned about the consequences for other coins in the short-term following a correction/burst though?

If bitcoin pops, the actual monetary value in the crypto market as a whole will plummet. Not the end of the world for those who got in early and mooned, but potentially damaging for subsequent growth and investment?

I dunno though, I'm not an econfag.

>>4636517

To be fair dude, you mention getting a decent sign-up bonus - I'm guessing 12 months at 0% APR?

In your case I'd probably say "Fuck it" and take a gamble myself; that said - for those unable to get decent deals, and have shitty levels of APR, I'd say not using credit for coin purchases is sensible - hardly cucked.

its 10000 know on bittrex

>>4636163
Going to try and get USD on Kraken. I'm blocked on Coinbase and support hasn't responded in a month.

You're right though, Tether == bad idea.

>>4635961
yeah bro, this coin is totally worth $170 billion, hold onto your coins!

>>4635971
he must've bought his btc on it

>>4635971
>>4636055
oh god he actually did

>>4636182

Those are good rules. Only one I disagree with is his dislike of buying on limit order. I have used limits to good success targeting a peak I wish to sell at ahead of time... maybe if you're on the computer staring at numbers all day I understand but limits allow me to get sound trades in at better prices than I could get trying to track the day's pattern manually.

>>4637700

Oh for god sakes. OP, sell right now while it's high, take your profit, get back in later if you like (with money you actually have).

>>4637617
>
12 months at 0% APR, $200 credit after spending first $1000, (((they))) are giving out free money to buy more ETH, it doesn't even make sense

>>4637848
Is all of your CC debt from buying crypto?
It would be really wise to take profit and cover that portion of the debt.

>>4637993
Fuckin A
See you on national TV news tomorrow night.

>>4637717
^This.
Let me tell you a story about market orders and stop losses:

>place stop loss order (not stop loss limit) for no particular reason but to "play it safe" while margin trading a coin that I have long-term faith in
>flash crash happens
>because it happens so fast, the stop loss doesn't trigger/fill until price has dropped significantly below the point I set the stop loss for
>lose big
>within an hour, price is back to where it was before the crash.
>would have been fine if I had set no stop loss at all, or slighly down if I had set a stop loss limit, even if parts of it had filled on the way down and then back up

And this is why you should NEVER set market stop losses, unless you're trading in literal shitcoins (which is not a very safe thing to do in general).

>>4637700
>>4636026
lmao...my friend did this and I tried to explain why it was a bad idea.

Some people just don't understand debt or financial responsibility- they think it's free money.

He then took out another credit card to pay off the one he bought crypto on so he could get lower interest rates lmao

>>4638115
Some people don't understand leverage

>>4638231
not really a wise idea to take out $5000 of debt when you have $100 savings and no job to invest in something you dont understand and have no experience with is it

>>4638319
just declare bankruptcy bro, who cares lol

>>4638115
7 year debt is erased
do it

>>4635961
>My portfolio is sitting at 12k and I am 11k in credit card debt.
lmao

this is /biz/ ladies and gentlemen

i suggest getting a job faggot

>>4636182
>How to lose money 101

Stop loss orders are designed to get you out of a trade at the absolute worst possible time so you can then watch the market move back into the direction you wanted it to go. The mark of cattle and ameteurs.

>>4638439
you must be really smart

>>4638451
I'm not anything, it's just common sense bro. Put it this way, if you are using a fucking stop loss then your money management approach is flawed and your entire approach is fucked, and worse, since whales manipulate markets using bots that analyze stops, you effectively complete a mechanism that will automatically LOSE your money!

pay off your debts you fucking mongoloid

11k? thats not debt, thats like some bills.

I'm 50K in credit card debt, pay my girlfriend's credit card debt which is about 30k, and i am 50k in irs tax debt

I'm screwed and I'm still gonna make it. You're fine.

Pay off credit card before you invest. You won't make the kind of returns as you will pay the credit card company. Even if you Do, it's breakeven at best

>>4638335
cant get more credit cards if your credit rating is shit :^) no more bitcoin 4u then

>>4638568
Thanks for the support. Even though I have a 140 IQ, I will admit that I sometimes let the FUD on this board get to me. I probably have a better credit score (720) than most of these losers anyway.

>>4638797
You're a fag

>>4638797
How the fuck could someone say seriously something like that, holy shit the absolute state of /biz/

>>4638848

>>4638915
this guy lmao, is this a reverse larp thread?

>>4635961
Just cash it all out and pay off your debt moron.

>>4638815
this

>>4638568
>already in tax debt
>thinks crypto is going to save him
oooo boy im laffin

>>4636029
This

>>4635961
>If bitcoin does not break $10,000 on a decent exchange

>Bithumb
>$678,182,000 volume (24h)
>$11,922.30 USD price

>My portfolio is sitting at 12k and I am 11k in credit card debt.
Pay off your credit cards

>>4636029
its ok he's mostly in eth, guaranteed gainz