0 sats \ 16 replies \ @ek 18 Sep 2022 \ parent \ on: Daily discussion thread
Then I'll buy more with my next salary. I am confident enough to take the risk. I think I am going to do it. Just have to research my best options.
Yes. But the fundamentals are still the same.
I think it's "risky and gambling" if you don't know what you are doing.
The fundamentals are the same, but the fundamentals are worth ~$20k.
The fundamentals were worth $20k in December 2017, but were worth $3k in 2018/19/20.
It's risky and gambling because no one (including you) knows what the price will be tomorrow. Can you stomach a 50% drop for 1-3 years? I am a bull, but could see it dropping lower in the next year or two.
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As mentioned in another comment, yes I can. I am not thinking about 1-3 years. I am thinking about 5+ years.
Yes, I can see it drop lower, too. I still have to decide if I want to put it all in now or spread it out like I did with my monthly salary for the past 2 years. I have an appointment on Thursday: #71379
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How will you feel if you took out a loan to buy bitcoin at $20k when it is at $11k?
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Fine. As I said, I am serious about thinking long-term. I'll be glad to buy even cheaper. Are you testing my confidence? Haha.
But thanks for replying. You are asking good questions but I have thought about them.
If bitcoin doesn't work out, I'll be happy that I at least had the confidence.
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How will you be able to buy cheaper if you already blew your load at $20k?
I hope you understand what I'm getting at, which is that nobody knows the price tomorrow. Your best bet is to buy with money you already own, and it is you alone who must weigh the risks (and there are many) of taking out a loan to buy bitcoin.
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How will you be able to buy cheaper if you already blew your load at $20k?
With my regular income as before
I hope you understand what I'm getting at, which is that nobody knows the price tomorrow.
Yes I do. I think it's nice of you to care. I think I have calculated the risks and I am going to do it. If the bank allows it, haha
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Best wishes to you
and Godspeed.
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Confidence... the food of the wise man, but the liquor of the fool.
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If you are sure you can service the monthly payments without any problem, I think it's ok. But if it takes more than 15%-20% out of your paycheck, I wouldn't do it.
It's a speculative attack on the Euro in essence. I think it makes sense.
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If you are sure you can service the monthly payments without any problem, I think it's ok.
Yes. 50€ is like 5% of my regular income.
It's a speculative attack on the Euro in essence.
Not agreeing with "speculative" since my decisions are based on reasoning (I would call trying to get lucky as "speculation"), but yes it's an attack.
I have more confidence in the bitcoin blockchain pumping out a block every 10 minutes than the Euro to keep existing in the next 5-10 years.
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What if you lose your job? What if an emergency bill comes up?
I think bitcoin will continue adding blocks for a long while, but what makes you think the Euro will cease to exist in 5-10 years?
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5% of a salary is not that risky tbh
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Yes but it's good to think what I'll do if I lose my job.
I need to find out how much fiat I want to keep as an emergency.
Or where the best bridge is to sleep under haha
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If you lose your job, the state will provide you with a living wage, no?
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They should. But I wouldn't count on that. I heard bad experiences about such cases from former flat mates.
They'll just take their time.
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The current situation between north and south Europe. Increasing pressure from political parties to exit the EU (see Brexit). I don't want to say I don't like the EU. But there are definitely some problems with it.
If I'll lose my job I'll be fucked for a while until I found a new job
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