BTCUSDT20240609P78000
Bitcoin / Tether USD Jun 9 2024 78000.00 Put
crypto

Also I don't understand people going all in on BTC anymore. There are better plays and he probably makes the same money in the stock market. BTC is at 63k the all time high is only a 1x. Actually less than 1x..so even getting to all time. This could take years. Might be 2-3 years before we hit that is a 1x. No yeild no ability to leverage. Just people making stupid mistakes.
On top of that investing is mental. Bitcoin rises all the way to 90,000 and then he comes all the way back down to $70,000 and keep swing trading between that amount. Having all your money especially $179,000 is going to make people make stupid decisions by either buying more or dumping. If it drops below 60k to 55k it also can make you panic and sell if you need cash. I don't understand people who encourage this l, when half the people on these post don't have more than 25k in investments. But heya fool And there money will depart.

Fair play to you man, that’s conviction! I guess it depends on where and when you bought BTC - was it at the recent lows around $60K?

Not sure why you say that. Returns (up and downs) from the Stock market and even index funds are similar to BTC over the past 5 years.
The only difference is that you get vastly higher risk with crypto.....to seek the same or lesser return.
It's only a guess, but 3 or 4 stocks like Nvidia, Google, Apple, etc - over the past 5 years - have made vastly (like 5X or more) of the return, while having vastly less risk.......
When Crypto was dirt cheap it was "nothing ventured nothing lost" - but now it is different and folks would be wise to compare it to stuff with less risk.
Of course, it's hard to believe the OP.....why do it? And why tell the world?

The BTC part isn't even the scariest bit, the 100% allocation habit is. Decide now what number makes you take some risk off, because you'll be much worse at making that call when the chart is moving 12% in a day.

> The original argument was about capacity and decentralization tradeoffs, not some shadowy conspiracy, and reasonable people landed on different sides depending on what they weighted more heavily.
Ok but one side was completely wiped off the discussion via zensorship. And 9 years later we know everything they said came true about BTC and LN. People moved to other coins because BTC was congested and expensive. LN doesn't help scaling at all and is mostly used custodial. The whole narrative around BTC changed away from p2p cash and is more about making more dollars.
So where is your promised nuance?

Nothing goes up forever. I’m pro BTC but I can’t imagine a bitcoin being worth a million anymore than I can imagine a starter home in Vancouver being 5 million in 10 years.

This. No one lost money on BTC holding it 4 years.

Makes more sense if your in the 40-50k range of BTC. There is still downside risk at these levels.
Also....Only do this if your okay losing the money and can afford to do so. Dont push it out 5yrs or more either. 3 - 4yrs. You don't want to be paying on a loan while the bull flew by and your sitting in another bear.
I did something similar last cycle...I seen it no different than a car payment. Car depreciation ends up at 0 dollar value at least BTC has the ability to go up. This is extremely risky and you need to go in with the approach the money is gone....Its slightly better odds than a gamble.

Don't stalk the price or else it'll lead you to panic sell. Just leave it be and remember that as it stands nobody who has ever bought and held BTC for a full 4 year cycle has never lost money. If it follows the previous cycle then we have bottomed yet and it could go lower in the Fall.

A lot of the other posters on here don't understand what you did and clearly have no concept of BTC cycles. If you understand BTC's CAGR, compound annual growth rate, and basic market structure around it you can easily navigate this.
I've done something very similar to you, but on a smaller scale.
I first got into this space in the spring of 2018. From there up until the COVID lockdowns I steadily accumulated, though at the time my leftover income/cash flow wasn't all that high. However, when COVID hit my income skyrocketed and I went on a tear that year. In the fall of 2020 though I actually applied for a very small loan, $2500, and threw that into my holdings. The interest rate and monthly payment were very low, $50/month, so I was not at all concerned about it. I did think about getting more, but at the time I was a bit less confident about doing that and didn't want to take on a lot of risk.
We go into 2021, I accumulated during dips, summer of that year I made some aggressive moves when BTC was at 30k and under.
I steadily accumulated 1st half of 2022 and the summer of that year when BTC tanked to 20k. The fall of that year I applied for a personal loan of $15,000 and threw that in at a hair under 20k. My payment on that was $341/month for 60 months. I did this because it still left a lot of room for me to continue to dollar cost average aggressively, which I did throughout 2023 and 2024. When the market would run a bit hot, instead of accumulating I would pay extra towards that loan. I ended up having this particularly loan gone in very early 2025 after we had that post election euphoria phase.
I also did another round of this in the fall of 2024 and more recently here this spring/early summer. I currently have 4 different personal loans right now I'm making payments on, 2 of which I could clear very easily by the end of the year if I chose to.
I have a very solid position in BTC but also some sizeable holdings in alts as well. Worst case scenario for me is wouldn't be able to continue to dollar cost average into BTC. This stretch where we currently are at is probably going to be the last time I try to accumulate BTC heavily. Once we get running again it's likely we get into the 200-300k range and with nation states and governments looking to accumulate it will be really difficult for me to make much of a difference compared to my portfolio if BTC is trading at this range or higher.

Roulette is gambling you’re chasing luck and playing a rigged house game. BTC is an investment; you’re backing a global financial revolution. With the wheel, your odds are always shrinking. With BTC, you’re pricing in the future of decentralized tech. Gambling leaves you empty high conviction investing rewards the patient. Big difference! that's just my personal opinion. Since I've been trading Bitcoin options for many years, I can be flexible in my approach

I bet you were not going around saying that when BTC was at $120k

Oh really. What do you think BTC will be at in both 2-3 and 10 plus years? I was sold on a million in 2 to 3 years and 5 to 10 million in 10 plus. It will likely either be those levels or zero.

He's getting credit cards that have 0% intro APR offers for purchases and balance transfers, most new cards you apply for have this btw. Let's say he got a credit card from AMEX where he got a credit limit of 10k and 15 months of 0% for purchases. He puts everyday purchases on that card and instead of paying it completely off he puts the payments into BTC. He then applies for a new credit card with a good 0% offer, flips it over to that with a fee of 3% and continues to accumulate BTC instead of paying it off.

Same here. Lately diversified in MSCI World but I slowly built a position there and 95% are still in BTC, stacked for years

Only a BTC long atm.

Bulls are still strong AF, BTC green rn even w the hormuz news

Por qué BTC y no algo como MU o INTC qué realmente está dando ganancias?

Why is BTC up , aren’t the straits closed ?

No. If an exchange like Binance stops serving European customers soon, BTC will tank more...