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13418136 No.13418136 [Reply] [Original]

>Everyone celebrating recent gains
>I already went all-in on ETH in late 2018... at 400...

>> No.13418257

>>13418136
Anon, I also went all in on ETH in 2018 at $600, excepy my definition of all in was taking out a $40k loan. Which I am now paying ludicrous amounts of interest on. I will pay over $100k by the time its paid off. ETH better fucking moon hard.

>> No.13418281

>>13418257
>take out 40k loan
>pay 60k in interest
Wut

>> No.13418285

>>13418257
wow rip buddy

>> No.13418286

>>13418257
LMAO

>> No.13418299

>>13418281
Yeah loans are fucking criminal man. Its an 8 year loan at like 15% APR.

>> No.13418483

>>13418257
fucking kek

>> No.13418511

>>13418257
Christ. And I thought I had it bad.

>> No.13418527
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13418527

>>13418257
I unironically did the same exact thing anon. Fucking brutal year and a half but were almost there. Itll pay off.

>> No.13418578

Dude relax, bitcoin is gonna go to 100k, easy. I also invested at ATH and I'm not afraid.

>> No.13419209

>>13418527
Yeah I'm throwing extra money at the loan to try not to get raped so hard on interest.

>> No.13419226

i'm -90%, but i'm going to make it

>> No.13419327

>>13418527
Honest question - do you have any other assets that you could have just sold for capital instead? Why take a loan?

>> No.13419369
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13419369

>poorfag
>invest 7k in crypto in hopes of making it and escaping wagie life
>portfolio is only worth half as much now

>> No.13419396

holy shit. people actually took loans to buy crypto. i thought that was a meme

>> No.13419613

>>13419396
we need autistic people to buy our overpriced coins and sell the undervalued ones

>> No.13419625

>>13419396
nothing is a meme when it comes to financial decisions

>> No.13419630

>>13418257
Matter of time before you neck yourself

>> No.13419656

>>13418257
Why don't you just file for bankruptcy and wipe your debt out? Sure it fucks up a lot of your life but if you're going to wind up paying off $100K over time wouldn't it theoretically be better to take a big credit hit, wageslave with your current skills, and buy back in now ASAP?

You're essentially looking at a 4X just to break even on ETH.

>> No.13419681

>>13419656
To be honest a lot of us are so far down 4x to break even isn't that crazy. The bigger issue is that he won't ACTUALLY break even because he owes interest. It sounds like he in reality needs something like an 8-10x so he can cover the interest payments.

>> No.13419719
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13419719

>>13418136
>>13418257
ETH, not even once.

>> No.13419778

>>13419719
Pretty much. I feel like a retard buying when I did. I'd still be down if I bad bought BTC at that time instead but by literally only half as much.

>> No.13419863

>>13419656
Can you really just steal 50k in a loan and then get that debt absolved through the government? Literally what reason do I have to not bank an easy 50k after I pay off my mortgage and car loan in 10 years and no longer need credit?

>> No.13419871

>>13419863
You realize your assets are liquidated to pay your credits before discharge, right?

Also your credit is absolutely destroyed for 7 years (after which it's reset).

>> No.13419879

>>13419871
*creditors

>> No.13419880

>>13419871
Oh, so you're supposed to do it before buying a house? Wish I did this when I was 21.

>> No.13419888

>>13419880
What debt did you realistically have prior to 21? You can't discharge student loans.

>> No.13419904

>>13419863
I don't know, I just know that it wipes most of your debt excluding student loans and there's only one other type of debt it won't erase. The catch like the other anon said though is that they quite literally make you sell off all your valuable shit. It's great if you're a degenerate gambler trying to make it and take out an assload of loans and are in massive amounts of debt I assume which is why I suggested it.

>> No.13419907

>>13419904
Also doesn't eliminate obligations for things like child support and alimony.

>> No.13419919

>>13419907
Ah right I think that's what I was thinking about. My parents thought it would be a smart idea to file for bankruptcy on a house they lost only about $10k in at the bottom of the housing market. The same house today is worth over $250K. Honestly for my first housing purchase I'm considering waiting for about 6 years and going to an auction

>> No.13419920
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13419920

>>13418257
L O L

>> No.13419953
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13419953

>>13418257
Well good thing you only put in as much as you were willing to lose right anon?

>> No.13420042

>>13418257
i would really like to know what you thought back then would happen? at what price did you want to sell? share your mind

>> No.13420295
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13420295

Same

>> No.13420425

>>13418299
>>13418257

>signs contract
"loans are criminal man"

my fucking sides lmao
this is who we trade against

>> No.13420452

>>13418578
100k are not gonna be easy but will come eventually