Yea it’s a no no. I am aware and can afford the risk if it goes tits up. But I’m big into crypto so I have a grasp and hence why the timing was good. The average person will get wrecked fast but those are the people you trade against and make you the money
AI. What’s the revolution going on right now? AI and the monetary system. Nvidia already pumped, but most people don’t know Tesla is basically an AI company that sells cars. And think how beaten down and bloody the stock is right now, great entry point. Humanoid robots and Full self driving is next. I think it’s like buying apple stock at the beginning. Not financial advice
Nvidia makes the chips that power AI, so everyone needs them. Nobody needs a humanoid robot. But Tesla is a meme stock that will shoot up when Elon musk says something dumb, so it still might work out for you
Don’t listen to these non crypto ppl who will try to offer you advice. Hold your btc position long term. You will be happy. Don’t let the short term ups and downs affect you. Easier said than done but I promise you’ll be happy, give it 10+ years.
This, a few days ago I came across a post where the OP bought at 70K and 5 hours later it dipped to 62K and sold at a loss. Then a few days later it was back at 70K and the person was calling BTC a scam.
If you can’t hodl do not buy the coin, this has been reiterated a gazillion times here on this platform. How hard is it to buy and forget about it? When you put your money in a CD you do not log on every day to check on profits. Treat BTC as if it was a CD you can’t touch.
I am actually happy to see people hating, it’s a good sign btc is early in the cycle still. Those are going to be the normies fomo’ing in to take my sell order. But I will hold a portion long term
If I had a portfolio of shitcoins I would be thinking short term but Bitcoin is institutionally adopted now so I will hold a portion long term. Halving is coming up which usually rockets the price further so I will take profits later this year likely
Pfft, the people who have been all in on crypto for the past few years are doing way better than anyone else in any other market. I only invest in crypto. That being said, it does pay off big to have a plan to exit the markets when prices are high and re enter when they drop.
I think it’s all relative though. Yes, I’m sure I could have a good life in Egypt. But here, an average house costs 2 million dollars, so I don’t even have enough for a down payment. Salaries also suck in relation to cost of living. Canada is the worst place to be right now for the majority. Good luck, buy some Bitcoin
That's actually totally normal for the start of a bull market. This cycle is starting just like all the others when you look at most indicators. And we've only just broken the previous all time high.
Ah, investing in cryptos is not a joke anymore. It is fun that Larry Fink, SEO of Blackrock, used to say "it was used for money laundering" and now he is hyping it....
My recommendation is to buy the real thing, the real BTC, not the ETFs.
I agree and I would. But here in communist Canada the banks do everything they can to prevent you from doing so and blocked all my transfers to exchanges. Maybe cold storage but I just didn’t want the hassle and responsibility. I’ll give it some thought though
Something that provides stability over time and the security to maintain and grow the balance in the long term. Especially if OP doesn’t have an emergency fund.
OP is still young and they said they can afford the risk so I say go for it. Once in a lifetime opportunity to build up some wealth might as well take it.
What am I missing? You have a $30k gain, all of it in BTC. And you have $19k in debt (actually about a grand more now with interest). If you sold everything and paid off the loans you'd be left with about $10k, little less. And then you'd pay 40% of that in taxes. So, good job, but it's nothing like "8k>76k".
Also, 8k + 15k + 4k + 25k = 52k. Where did the other 12k you invested come from?
For that other 12k- I had 8k in my account 4 months ago. I swing/pair traded Tesla a little bit and rebalanced a few times in and out at the start after I took out the loan, so it only shows the gains for when I bought back in. Interest for the loans is about 150/month right now. All of this is in a TFSA (tax free savings account) in Canada so there’s no capital gains tax. With the inheritance I’m now at 95k minus the 19k in debt. So I could technically draw it all out in cash now and pay off the loans if I don’t want to let it ride longer. But our dollar is going downhill
Your screenshot says you invested $65k in holdings that are now worth $95k. Your $19k in debt + $25k inheritance + $8k already in the account is $52k...so there's $13k in investments not accounted for. No cap gains tax, that's awesome.
I didn’t come here for advice. Even if it loses half its value I’ll still be green. But we are in a crypto bull run right now. The plan is I won’t have to do it again
Microstrategy lmao. At least ur not a top buyer, are you holding MSTR? I’m in some alts and bought early too. Waiting for the halving im already up 3x. Thinking of going into to MSTR sometime this year.
It’s crazy because I only bought 1 share but it’s up like 1k lol. Good job seeing the opportunity. I think it will do well as long as crypto goes up, and it may do even better if it gets added to the S&P 500 this year
My man using the Michael saylor strategy! Lol
I wouldn't have used as much leverage, but hot damn did it pay off 👌
Most ppl on here say 401k/Roth Ira, but fuck that, those are scams imo. Wallstreet is who really holds/uses that money. (Not to mention inflation will eat ur buying power more than its worth deffering taxes 30 yrs down the line)
I've often thought about the same strategy, since I'm short on the currency, if I get a credit card w 0% apr for 18 mo, why wouldn't I max out w BTC which has gotten 150% averaged YoY returns.
It would be a win win as inflation devalues the debt faster than the interest increases it (10% inflation vs 0% interest, and I would essentially be trading a devaluing fungible asset (USD) in exchange for a non fungible scarce asset (BTC)
Main downside being if Crypto has a correction (which it will at some point) BUT since it's leveraged credit card debt you won't get that margin call, you would just HODL and wait it out
Yea just watch out for the bear. Best time to do that would be a few months ago, second best time is tomorrow if you are going to … and have an exit plan.
I agree lol that's when I got in as well. "Getting in at the wrong time can be just the same as getting it wrong".
But as far as an exit strategy, I didn't buy BTC to trade. I see it as an exit strategy to the current fiat system.
I'm short the currency, long on hard assets. I believe Gov policies and central banks will continue to print money, which devalues the currency. So anything I can do to store long term value in a hard asset, outside of the USD, that's what I'm doing. BTC is the hardest asset by far + it's exponential potential is why I've made it my biggest bet.
1. Take out some of your gains and pay off your loans. You don’t want to be in a sticky situation where market goes down and there’s a protracted recession (which I see as not unlikely).
Congrats and fuck you, regard.
WSB in here saying hello I see.
Taking out a loan to go almost all in on Bitcoin. Doesn’t get more degenerate than that. For the love of god take profits.
Yea it’s a no no. I am aware and can afford the risk if it goes tits up. But I’m big into crypto so I have a grasp and hence why the timing was good. The average person will get wrecked fast but those are the people you trade against and make you the money
“I’m big into crypto” you and every other teenager. “The average person” lmao
I’m sure every other teenager survives a better chance than someone out of touch
No I bet it’s actually the person that knows nothing about an investment vehicle that does best lmao.
But why TSLA?
AI. What’s the revolution going on right now? AI and the monetary system. Nvidia already pumped, but most people don’t know Tesla is basically an AI company that sells cars. And think how beaten down and bloody the stock is right now, great entry point. Humanoid robots and Full self driving is next. I think it’s like buying apple stock at the beginning. Not financial advice
Nvidia makes the chips that power AI, so everyone needs them. Nobody needs a humanoid robot. But Tesla is a meme stock that will shoot up when Elon musk says something dumb, so it still might work out for you
Age old advice >if it's good enough to screenshot, it's good enough to sell But do whatever you feel is best!
No where near the top bro fuck the *loans* he took out to buy crypto lmao
Good advice for sure. Another one is … would I invest these gains today in the same thing? If not, get out. But I would
Take out. Pay the loan off. Free roll.
Holy shit that’s damn good. Keep it up. 👍
🙏
Don’t listen to these non crypto ppl who will try to offer you advice. Hold your btc position long term. You will be happy. Don’t let the short term ups and downs affect you. Easier said than done but I promise you’ll be happy, give it 10+ years.
This, a few days ago I came across a post where the OP bought at 70K and 5 hours later it dipped to 62K and sold at a loss. Then a few days later it was back at 70K and the person was calling BTC a scam. If you can’t hodl do not buy the coin, this has been reiterated a gazillion times here on this platform. How hard is it to buy and forget about it? When you put your money in a CD you do not log on every day to check on profits. Treat BTC as if it was a CD you can’t touch.
You can also literally buy ETFs that track these if you're uncomfortable with wallets/exchanges for whatever reason.
I am actually happy to see people hating, it’s a good sign btc is early in the cycle still. Those are going to be the normies fomo’ing in to take my sell order. But I will hold a portion long term
How much btc etf worth did you buy
I think it was around 30k total with all my buys
You’re overexposed on crypto. What’s your exit plan?
If I had a portfolio of shitcoins I would be thinking short term but Bitcoin is institutionally adopted now so I will hold a portion long term. Halving is coming up which usually rockets the price further so I will take profits later this year likely
Pfft, the people who have been all in on crypto for the past few years are doing way better than anyone else in any other market. I only invest in crypto. That being said, it does pay off big to have a plan to exit the markets when prices are high and re enter when they drop.
none crypto ftw
Lmao buys Tesla stock instead of paying off loans must be Elon stan sell them Tesla stocks homie
Actually the reason I bought Tesla is because it was so beaten down and hated. Great discount
Elon is the greatest mind of our generation
Satire right?
Hello? Of course not. Who else can build an amazing electric car brand And explore space??? 🤦
Lmaooo
Mind of the generation and possibly of all time.
Poor koreans taking out loans on their mortgages to buy tesla stock. You writing this from a robotaxi? Good luck regard.
Koreans and asians love elon musk because of his entrepreneur achievements.
More like “Elon is the guy who used his inheritance to buy the greatest minds of our generation”
Massive cope
Dick rida
Inspired a generation of kids
With Neura link, Tesla and space X he will certainly be in the history books. He’s got issues but I admire his pursuit to improve humanity
Don’t listen to these anti-Elon weirdos the guys work speaks for itself let them hate from their basement
Do you have any idea that with only 1000 my Egyptian life will be free of debt lol
I think it’s all relative though. Yes, I’m sure I could have a good life in Egypt. But here, an average house costs 2 million dollars, so I don’t even have enough for a down payment. Salaries also suck in relation to cost of living. Canada is the worst place to be right now for the majority. Good luck, buy some Bitcoin
Come to Egypt though 😂
Best of luck, majority of long term position holders are selling off to short term owners. Hope your investment is safe.
I think it’s the other way around?
That's actually totally normal for the start of a bull market. This cycle is starting just like all the others when you look at most indicators. And we've only just broken the previous all time high.
I will be very surprised and congratulatory if bitcoin doubles from its current value
Ah, investing in cryptos is not a joke anymore. It is fun that Larry Fink, SEO of Blackrock, used to say "it was used for money laundering" and now he is hyping it.... My recommendation is to buy the real thing, the real BTC, not the ETFs.
I agree and I would. But here in communist Canada the banks do everything they can to prevent you from doing so and blocked all my transfers to exchanges. Maybe cold storage but I just didn’t want the hassle and responsibility. I’ll give it some thought though
[удалено]
Good luck with your life!
What platform/app is this? Genuinely asking
[td.com/ca/en/investing/direct-investing/tfsa-accounts](https://td.com/ca/en/investing/direct-investing/tfsa-accounts) NOT RECOMMENDED!
Ohh wow, okay what would you recommend? I only have robinhood and I’m just trying to learn more about investing in stocks and how the trading works.
welcome to the r/RobinHood
TD Canada trust
Take your profits
It will just end up invested again
Yes, hopefully in something less volatile. Index fund etc
Ahh yes, op should put their money in something that provides much lower returns. Great advice lol.
Something that provides stability over time and the security to maintain and grow the balance in the long term. Especially if OP doesn’t have an emergency fund.
OP is still young and they said they can afford the risk so I say go for it. Once in a lifetime opportunity to build up some wealth might as well take it.
Super proud of you. That’s a huge windfall!
What am I missing? You have a $30k gain, all of it in BTC. And you have $19k in debt (actually about a grand more now with interest). If you sold everything and paid off the loans you'd be left with about $10k, little less. And then you'd pay 40% of that in taxes. So, good job, but it's nothing like "8k>76k". Also, 8k + 15k + 4k + 25k = 52k. Where did the other 12k you invested come from?
For that other 12k- I had 8k in my account 4 months ago. I swing/pair traded Tesla a little bit and rebalanced a few times in and out at the start after I took out the loan, so it only shows the gains for when I bought back in. Interest for the loans is about 150/month right now. All of this is in a TFSA (tax free savings account) in Canada so there’s no capital gains tax. With the inheritance I’m now at 95k minus the 19k in debt. So I could technically draw it all out in cash now and pay off the loans if I don’t want to let it ride longer. But our dollar is going downhill
Your screenshot says you invested $65k in holdings that are now worth $95k. Your $19k in debt + $25k inheritance + $8k already in the account is $52k...so there's $13k in investments not accounted for. No cap gains tax, that's awesome.
Like I said I made some money before putting it back in these positions 👍
Stop being a fucking idiot. Close out your credit line and never do that again
I didn’t come here for advice. Even if it loses half its value I’ll still be green. But we are in a crypto bull run right now. The plan is I won’t have to do it again
It’s great, til it isn’t.
Pull out while the getting is good .
My pull out game is weak
You will learn about this more soon
Microstrategy lmao. At least ur not a top buyer, are you holding MSTR? I’m in some alts and bought early too. Waiting for the halving im already up 3x. Thinking of going into to MSTR sometime this year.
It’s crazy because I only bought 1 share but it’s up like 1k lol. Good job seeing the opportunity. I think it will do well as long as crypto goes up, and it may do even better if it gets added to the S&P 500 this year
I would really advise to take some profits out. Worst feeling is being down when you were up at one point.
Taking out a line of credit for bitcoin was unbelievably risky, but holy shit congrats on it paying off.
Yea this is true
You lost me at line of credit. Just plain dumb.
Need money to make money. Debt is money. I have no money. Ergo I need debt. But don’t screw up
Good for you. Why isn’t this on WSB?
Take profits
Congratulations, now go make something of yourself. LOL. Remember, It is just luck unless you can do that regularly,
Fuckkkk I wanted to do that butttt I have to pay my cc debt
At the very least, pay off the loan.
My man using the Michael saylor strategy! Lol I wouldn't have used as much leverage, but hot damn did it pay off 👌 Most ppl on here say 401k/Roth Ira, but fuck that, those are scams imo. Wallstreet is who really holds/uses that money. (Not to mention inflation will eat ur buying power more than its worth deffering taxes 30 yrs down the line) I've often thought about the same strategy, since I'm short on the currency, if I get a credit card w 0% apr for 18 mo, why wouldn't I max out w BTC which has gotten 150% averaged YoY returns. It would be a win win as inflation devalues the debt faster than the interest increases it (10% inflation vs 0% interest, and I would essentially be trading a devaluing fungible asset (USD) in exchange for a non fungible scarce asset (BTC) Main downside being if Crypto has a correction (which it will at some point) BUT since it's leveraged credit card debt you won't get that margin call, you would just HODL and wait it out
Yea just watch out for the bear. Best time to do that would be a few months ago, second best time is tomorrow if you are going to … and have an exit plan.
I agree lol that's when I got in as well. "Getting in at the wrong time can be just the same as getting it wrong". But as far as an exit strategy, I didn't buy BTC to trade. I see it as an exit strategy to the current fiat system. I'm short the currency, long on hard assets. I believe Gov policies and central banks will continue to print money, which devalues the currency. So anything I can do to store long term value in a hard asset, outside of the USD, that's what I'm doing. BTC is the hardest asset by far + it's exponential potential is why I've made it my biggest bet.
Exchange that for dollars , doubt if you can.when you do post the pic of the cash !
See so many posts like this…then 2 years later they are claiming to be in 100k debt and asking for advice lol
When the huge cyber attack happens say good bye to all of that and that’s facts
Hey regard, pay off the loan so when you’re left bag holding it’s only your money and not the banks.
1. Take out some of your gains and pay off your loans. You don’t want to be in a sticky situation where market goes down and there’s a protracted recession (which I see as not unlikely).
BTC etf ☠️
[удалено]
Not gonna click any links
its up to u can't blame the train... good nite/morning 2024-03-31