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/biz/ - Business & Finance

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13661911 No.13661911 [Reply] [Original]

Paid off most of my house in 2017 with crypto. Now have $20K left and $40K in crypto. $8K of the money I borrowed in January at 19% APR. I am afraid of a dip since we went up quick and fast and historically, it's not time for a bull run yet. I am thinking of paying off the mortgage and debt with my gains. Fucking mortgage and debt free with crypto. It took my parents over 30 years to do that and I'd have done it in 2 1/2 years. But I am afraid of missing out on an continued bull run. Or selling BTC at $8K only to buy smaller amounts at $12-18K and up.

I need your advice biz. And fuck you faggots who laugh at asking for advice from a frog posting board. I asked Bogleheads what they thought about Bitcoin in 2014 and early 2017 and every single boomer there warned me it was a tulip. Thank you biz, you're my MVP.

>> No.13661937

>>13661911
Yes pay it off but no not now. This is a bull run, any TA you are using to say we're "not in the right part of the cycle" is moronic. This isn't meteorology.

Just hold on for a few months and you'll have a least double your current worth.

>> No.13661960

>>13661911
That's an easy choice. You still get to keep half and your house is paid off. If there's a bull run you make a ton of money and you own your house. If there's a crash then you own your house. It would be a harder choice if you had 40k in crypto and owed 40k.

>> No.13661983
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13661983

>>13661911
will you get better than a 19% return over the year? where do you think the ceiling is? You're so smart making hundreds of thousands over 2 years, why cant you answer this shit yourself?

Why? Because this is a LARP or a brag post. Kys immediately faggot.

>> No.13662164

>>13661911
If no debt is your goal then just fucking do it now. Even if/when BTC goes up again, you shouldn't care.

>> No.13662180

>>13661911
>$8K of the money I borrowed in January at 19% APR
*comically spits coffee at computer screen*

>> No.13662265

Why the hell will you ever I best in boomer memes like house. ? Worst investment ever

>> No.13662303

>>13661960
this

get rid of interest first. you can borrow cheaper using leverage on exchange anyway

>> No.13662328
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13662328

>>13662265
love this meme. its not an investment, you have to live somewhere . ya maroon

>> No.13662458

>>13661911

> Should I have steak or lobster tonight?

"I have no problems and my only concerns are getting richer" the post.

fuck off with your blog.

>> No.13662484

>>13662458
you will always be poor if you dont pay attention to how rich people became rich

>> No.13662851

I'll meet you in the middle OP. Pay off half of the 20k mortgage now and pay off the rest if/when Bitcoin goes even higher. You won't be paying much interest on a 10k balance anyway in comparison to most peeps.

>> No.13662886

>>13662484

I'm not poor bro. I make over $100k a year.

>> No.13662887

>>13661911
Always get rid of any debt first.

>> No.13663587

>>13661911

>payed off most of my house early

Why? What is your interest rate on your mortgage??

>> No.13663616

>>13662328
Fuck that. I hate building equity

>> No.13663634

>>13662458
Why not get opinions on how to manage wealth? You sound bitter

>> No.13663676

>>13662886
Then why the fuck you asking 4chan what you should do with your mortage..

>> No.13663736

>>13662484
This.
>>13662887
And, for fuck's sake, this. Making it is not being rich with a shitload of bills, it's living debt-free with no obligations. If money is your path to that life, like it is for many of us here, then all the better for it.

>> No.13663839

>>13661911
Pay it off, but I think I would wait a few weeks before that, this bitch looks like it's gonna shoot upwards.

>> No.13663905

>>13661911
Why the fuck would you keep 40k in crypto lmao put that into the stock market. It's the end game.

>> No.13664015

Pay off that 8k now.
20k on the house is much lower apr right? It can wait if you're stably employed and not in a rush to sell and move.

>> No.13664025

>>13663905

So you can unironically get 50,000% roi instead of 7%

>> No.13664116

>>13664025
Stock market for adults
Crypto for teens and tweens
I prefer my life savings to be insured. Plus I get better gains than crypto ever can give.

>> No.13664216

>>13662887
>always

I sometimes wonder if actually intelligent people browse /biz/. If you borrow at low rates it's always better to carry debt to the grave since you can put your money in the market, meaning your net worth will grow bigger, whereas if you pay immediately you have no money to invest and no free gains from the market.

Think about the bullshit you say once in a while

>> No.13664261

Pay the house OP, crypto isn't infinite free money

>> No.13664385

>>13661911
I would suggest you to pay like 5-8k$ in advance for mortgage just to have half-year advance period while keeping majority of your crypto.
Possible scenario is BTC going to 9 - 9.4k and then dip to 6k or so range. It is absolutely manipulated pump and whales are now doing redistribution to newfags who bought the top, also trapping bears to take shorts at 8k. We will go sideways for few days and then another spike will occur to rekt the bears who short 8k, then it will slip down to make sure ppl who stuck at binance could sell, as well as newfags who bought 8-9k range. However it will get back to 8-9k range very soon, like in a month period

It's just my view on situation (2017 fag here). Personally I've cashed out during this pump to pay in advance for 4 months for my home (also took mortgage and after two years I've paid out like 60% lol)

When you don't have headache about your house you pretty much don't need that much money and can enjoy freedom not available to 80%+ of population who have to spend like half of their income on living place.

>> No.13664581

>>13664216
>what is market risk

>> No.13664632

>>13664116

>I prefer my life savings to be insured.

The stock market isn't insured you dolt

>Plus I get better gains than crypto ever can give

AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

>> No.13664775

>>13664632
Oh right I forgot that one time my bank closed and I lost all of my stocks.. or that time the ceo decided to exit scam and all the investors got fucked. Or that time I forgot my password and lost my investment. Or that time a russian hacker logged into my account and stole everything. Or that time someone broke into my house and stole my computer, causing me to lose everything.

Oh wait, all of those scenarios either covered by insurance or extremely unlikely with big boy dollars.

And I just made over 50% in two days, it's called leverage and options. Read a book.

>> No.13664834

>>13661960
Unironically this. This is the most logical solution and safest bet. Why risk winning perhaps pennies when you can get debt free.

>> No.13664927

>>13661911
didnt even read your post

there is zero reason not to pay off your debts if you can pay off your debts right now. i have zero debts, paid them all off 2 years ago, i could lose my job right now and not need to find any work for 5 years because i have no debts, a secure home and a decent portfolio

>> No.13665036

>>13664927
but what if your mom kicks you out?

>> No.13665083

Pay it off anon. You'll still have $20k in crypto, that's 2.5BTC.

2.5BTC is enough to make it again. Even if you didn't trade it up you'll still have $250k by 2022.

>> No.13665519

>>13664775

>or that time the ceo decided to exit scam and all the investors got fucked.

Yeah, thank god that never happens in the stock market.


AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA