Guy Borrows 30k and buys Bitcoins - GoFuckYourself.com

NiXXiN · 04-10-2013, 08:40 PM

This guy lucked out, good on him, turned 30k into over 700k

Quote:

created this throwaway because I wanted to share what I've done, and someday look back on this thread in either regret or triumph.
I am not a wealthy man. I am actually quite poor and have a lot of student loan debt. But I have good credit. I have applied for, and received over $30,000 USD in credit card 0% balance transfer cash, which I have slowly been investing in bitcoin for the past two months. I started when it was $14/BTC. At this second, it is $25.10/BTC. I have invested some of it in satoshidice, and the rest will be stored in an offline wallet.
I may someday regret this decision. It represents the exact amount of my entire retirement and savings accounts. If bitcoin ever becomes worthless, well, I will just have to deal with it and find another way to retire. If bitcoin takes off the way I think it will, I will someday be a wealthy man and my family will be set.
I am not doing this out of greed, but to support my family and hopefully never have to worry about money again... something I've stressed about for decades. I realize it's controversial and some may take a dim view of it (my family included). But what's done is done.
I am not going to post again until a year from now. And then I will post each year following. Wish me luck.
EDIT: Thank you all for the feedback. I expected some opposition and advice. I have received more than enough, including some things I had not thought of. Most of it I anticipated and already considered though. I am done posting, and hopefully have clarified my position. I will be back in 1 year to document what happened. Have a good day.
UPDATE 4/9/13: I won't give a full accounting until after a year, but I have said that if it goes above 200 and stays there for at least a week, I am going to quit my job. This morning it crossed $200/BTC. Next week I will be quitting my job if it hasn't gone below $200. I have a few Avalon ASIC miners on the way that will hopefully help me preserve this wealth, or at least pay my debts back and enjoy some time off from work for a while... or forever.
UPDATE 4/10/13: All: I cashed out $30,000 USD worth the past few days. I plan on repaying the credit card debts in their entirety next week. I sold at 195, 212, and 242 price points. It was just getting too stressful watching all the recent gains and corrections. I will have a little seller's remorse as the price continues to go up, but I also feel relieved that all the coins I have at this point are icing on the cake. Plus, I am hopeful that my incoming Avalons will generate a lot more down the line. More later.
To the asshole trying to crack my password and access my tip funds: 16 character lastpass randomly generated, non-pronounecable, minimum 8 digits with special characters. Good luck with that.

http://www.reddit.com/r/Bitcoin/comm...ings_invested/

ninavain · 04-10-2013, 08:44 PM

CAHEK · 04-10-2013, 08:44 PM

Supz · 04-10-2013, 09:02 PM

Its on redit. Must be true.

Webmaster Advertising · 04-10-2013, 10:38 PM

Quote:

Originally Posted by Supz

Its on redit. Must be true.

To be fair, one of our idiot friends has been following bitcoin over the past few weeks and he told us a couple of days ago he is going to take out a personal loan to invest into them.

Whether he will or not remains to be seen but he's just dumb enough to actually follow through with his hair brain scheme.

Dirty F · 04-10-2013, 10:40 PM

Quote:

Originally Posted by Supz

Its on redit. Must be true.

What part of it sounds unbelievable to you?

Supz · 04-10-2013, 10:43 PM

Quote:

Originally Posted by Webmaster Advertising

To be fair, one of our idiot friends has been following bitcoin over the past few weeks and he told us a couple of days ago he is going to take out a personal loan to invest into them.

Whether he will or not remains to be seen but he's just dumb enough to actually follow through with his hair brain scheme.

All my friends are idiots. Please narrow it down.

Supz · 04-10-2013, 10:45 PM

Quote:

Originally Posted by Dirty F

What part of it sounds unbelievable to you?

The part that its on reddit. I know of all people, You don't believe everything you read on the internet. Just because it is possible the story is real makes it real? Ever read a fiction novel or see a movie? They sound believable.

Dirty F · 04-10-2013, 10:50 PM

Quote:

Originally Posted by Supz

The part that its on reddit. I know of all people, You don't believe everything you read on the internet. Just because it is possible the story is real makes it real? Ever read a fiction novel or see a movie? They sound believable.

You realize there are tons of people who pulled money from everywhere to invest in Bitcoins right?

Right?

Supz · 04-10-2013, 10:52 PM

Quote:

Originally Posted by Dirty F

You realize there are tons of people who pulled money from everywhere to invest in Bitcoins right?

Right?

I am sure that is very possible. Is it something that I have seen on the internet, yes. Does that mean its true. No.

04-10-2013, 08:44 PM	#3
CAHEK C.C.C.P. Industry Role: Join Date: Aug 2003 Location: Novorossiya Posts: 6,719	__________________ Pharma from True-Meds. High converting shop in Europe and USA, fast payouts via BTC !!!

04-10-2013, 08:44 PM	#2
ninavain So Fucking Banned Industry Role: Join Date: Jan 2004 Location: Las Vegas Posts: 6,268

04-10-2013, 09:02 PM	#4
Supz Arthur Flegenheimer Industry Role: Join Date: Jul 2006 Location: New York City Posts: 11,056	Its on redit. Must be true.