reply on: Daily discussion thread \ stacker news

The next couple of weeks might give me a chance to make up for my foolish failure to accumulate btc before 2020

Yeah, and this may make up that the market started to pump just after I got my loan. This will most likely be the most important dip of my life, lol

Got my loan on the October 25th. Bitcoin increased by 10% over 11 days. Now it's down 20% over 3 days

Where is the guy who was asking everyone a while back about getting a loan to buy bitcoin at 20k? Was that you?

I was the only one in the entire thread that said it was most likely a bad idea/ risky.

Don't know, maybe? You mean this one: #71281?

Seems like it, your comment there suggests it, haha

I was the only one in the entire thread that said it was most likely a bad idea/ risky.

I still think it was a great idea. Even better now that the market dropped. I never planned to do a lump sum into the market at once anyway

I never planned to do a lump sum into the market at once anyway

Actually, my initial post suggested that that was my plan:

How dumb is it to take out a credit to buy a big chunk of bitcoin soon-ish?

I just didn't want to miss the boat. But I didn't plan to put all at once.

If you asked me the question today, my answer would be different.

You mean now would be a good time to take out a loan? Why?

What is different between this

and this

in terms of taking out a loan?

Around a 21% difference if my calculations are correct.

Well, I still have most of my loan so imo it doesn't matter that I took it out earlier.

In fact, now I already have access to it instead of waiting for approval etc.

Also, a month ago, you couldn't have known that the market would dip again. I think a 70% drawdown from ATH is already a good opportunity.

Started FOMO accumulating all the way up to the top starting in Jan 21. Felt bad at first but this is kind of exciting.

It really is. I just exceeded my cash app daily transfer limit!

in 2020 it was 7k usd

ATH is at 69k usd i think

currently a third of ATH.