RE: Why I'm Negative on Bitcoin

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Why I'm Negative on Bitcoin

in bitcoin •  7 years ago 

I did enjoy this video. I jumped into the cryptocurrency game pretty late. I just started my path to financial freedom a couple of months ago and chose to pay my car and mortgage off first before investing, lol. Didnt think i would look back on that as a mistake. I saved $20K in interest but could have had $100K in profit. Anyway, great video.

bitcoin
7 years ago by

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      ·  7 years ago 

    It wasn't a mistake. Many financial advisors recommend you pay off all debts because it frees your income to do so many things - you can survive with very little income now. Even if you lost ALL your money now in cryptocurrencies, your monthly obligations will be so low that even a job that pays close to minimum wage should be enough to survive on. Becoming debt free is a lifelong objective for many people that they never achieve.

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        ·  7 years ago 

      Based on recent performance, it would have made sense to buy bitcoin for debt. Really not sure at current levels though :)

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          ·  7 years ago 

        It's all guesses right now. A bunch of past opportunities look like great now. I was doing the safe thing. I guess I could have done worse, lol

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            ·  7 years ago 

          You did good you never know what happens. I read an article where a family sold their house, car,... almost everything. They were lucky that BTC actually went up. Imagine it tanked...

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              ·  7 years ago 

            Thanks. I had a long hard talk with myself about this the other day. I did what I knew was the sure thing. After two weeks of trading, I'm up $4k. I have to pull my initial investment out at the end of the week to buy my first rental. I have reduced my monthly overhead by $900 dollars and I don't plan on giving up on my financial freedom goals.

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