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Finally got tax refund! Damn IRS. What should I do next pay off debt or buy BTC?
373 sats \ 15 comments \ @BlokchainB 19 Jul AskSN
After months and months of battling the IRS I finally got my refund! Now the question is what should I do next.
I was thinking of paying off my debt but all of it is at 0% or 4.35% APR. Very cheap in my opinion.
Or
Should I buy bitcoin then leverage it into a loan on strike then pay off all the debts and then just focus on paying off the loan on strike. This method almost feels like debt consolidation! But the APR is 9.5%.
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303 sats \ 1 reply \ @siggy47 19 Jul
Your current debt seems at reasonable terms. I think I know enough about you to assume you can easily keep paying it down. Just buy more bitcoin!
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99 sats \ 0 replies \ @WeAreAllSatoshi 19 Jul
I agree, those aren’t high interest rates. As they say, that money is cheap!
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73 sats \ 3 replies \ @Aardvark 19 Jul
Personally, I'd just buy bitcoin, but that's just me.
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122 sats \ 2 replies \ @denlillaapan 19 Jul
I'd set up a company, issue debt against it, buy bitcoin, watch it appreciate, then sell more shares of the company, to buy more bitcoin and...
yes, yes, whatever!
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94 sats \ 0 replies \ @Aardvark 23h
God damn it, I'm in.
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12 sats \ 0 replies \ @BlokchainB OP 19 Jul
Ahh yes Salyor’s nonsensical dentist example 😆😆
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75 sats \ 0 replies \ @kristapsk 19h
I would not pay debt right now, especially 0%, would buy Bitcoin. In worst case you can sell Bitcoin later or get a fiat loan against it as a collateral. Also, think about this way - what are odds, in your opinion, that Bitcoin price in USD will be more than 9.5% higher in a year from now.
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124 sats \ 0 replies \ @optimism 19 Jul
paying off my debt or Should I buy bitcoin then leverage it into a loan on strike then pay off all the debts
Do you want to be free, or do you want to be wealthy?
If the former, just pay off your debt.
If the latter, leverage and take a risk but stay a slave to fiat.
(edit: @siggy47's answer is better)
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80 sats \ 1 reply \ @bitcoingecko 19 Jul
Just buy Bitcoin. Especially don't pay off 0% debt until you have to
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66 sats \ 0 replies \ @denlillaapan 19 Jul
This
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87 sats \ 0 replies \ @beameduplol 19 Jul
Pay off your debt, even if 0% now, they will try to screw you over later. And then buy Bitcoin. Freedom would come from not being very dependent on FIAT or banks I assume.
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80 sats \ 0 replies \ @anon 19 Jul
Both specially if debt is high interest.
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84 sats \ 0 replies \ @grayruby 19 Jul
Buy the bitcoin!
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79 sats \ 0 replies \ @justin_shocknet 19 Jul
Strike loans are worse than credit cards, put it in to ETF via Robinhood where the margin is <6%... dont pay the debt just 1.5x the ETF 😈
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72 sats \ 0 replies \ @PictureRoom 19 Jul
Pay off your debt. That is always first to my mind. Luckily I've never been deep in it, but yeah, get rid of that first and then buy some more corn.
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