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/biz/ - Business & Finance

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File: 11 KB, 250x250, goato.jpg [View same] [iqdb] [saucenao] [google]
2550186 No.2550186 [Reply] [Original]

I'm about to convince my parents to mortgage their house to buy cryptos. A portfolio of 30% BTC/30% ETH/30% LTC/5% meme coins/5% Fiat, approximately.

I've made them a decent amount of money via stocks over the past 10 years (then again, who hasn't? kek) so they trust me.

I sincerely think this takes off. I fully acknowledge there's risk, but this is really a once in a lifetime opportunity to break out from lower middle class drudgery.

Should I go through with it?

>> No.2550206

>>2550186
>putting 95% of your parents money in crypto

why do you hate your parents?

>> No.2550238
File: 54 KB, 662x712, 26611e364b3c0f44c0e5f792e6ad75a7.jpg [View same] [iqdb] [saucenao] [google]
2550238

>>2550186
>30% eth
>hope you can live ok in 70% of a house

>> No.2550242

>>2550186
Ship is sinking, save them monies.

>> No.2550244

>>2550186

lol your parents are going to either be extremely happy or murder you in your sleep. Crypto is just far too speculative and risky at this moment people like that to get into. If you're young it's easier to get into since any risk can be averted since you have way more time to accumulate wealth than the old do. Your parents probably just want to retire safely.

>> No.2550260

>>2550238
Wrong wojak, this calls for the red distorted sliding off the chart version

>> No.2550266

>>2550186
hello goato

>> No.2550273

Yes goy invest all your shekels

>> No.2550409

>>2550206
I want us to live a better life.
>>2550238
Diversification. I don't pretend to know which one is gonna make it, and honestly, I don't think anyone does. But whichever makes it will make it big, so it won't matter if the others crash to 0.
>>2550242
Which "ship"? Cryptos are the future, I firmly believe that.>>2550244
Sure. I know it's risky, but there's no other way we're ever gonna make it. We've gotten by with smaller and shittier houses before, we can go back to it. We all work, we won't starve on the streets.

>> No.2550419

>>2550186

Don't. Don't ever open yourself up to such financial ruin over something that isn't a sure thing. Since you've made so much money on the stock market, why can't you use that? Plus, if you're gonna mortgage your parents' house again, why don't you buy another house to rent out? It's guaranteed money every month, and you can use the profits to invest in crypto.

>> No.2550480

>>2550409
>I want us to live a better life
Then make your own fucking money. Get off your ass and get a high paying job. Invest everything you have into crypto if you want not your parents' money

>> No.2550515
File: 70 KB, 256x256, 1497996424268.png [View same] [iqdb] [saucenao] [google]
2550515

>>2550186
don't make your parents do stupid shit
just get some free CACAs now before they go to the moon with high velocity shit propulsion

>> No.2550564

>>2550186
You are fucking idiot and shouldn't give financial advice to anyone.

>> No.2550565

>>2550419
>>2550480
>>2550515
I figured if crypto goes under at least I'll still be okay. My parents are old.

>> No.2550632

>>2550409
They may be but the booms in price won't keep up with the previous pace. Market is saturated, at least for now.
Whales got into cryptos and they orgasm after having 4-5% gains and dump it all.

>> No.2550672

>>2550186
One question:

How on earth is incurring debt going to give you a "once in a lifetime opportunity to break out of lower middle class drudgery" with possible loss of the only house you have/have that has no mortgage a good idea in any sense of the word?

If this is bait: Great bait I rate eight/eight

hello goato

>> No.2550688

Mortaging your parents house to buy memecoins is on par with martingale threads.

>> No.2550748
File: 260 KB, 500x883, immunityDog.png [View same] [iqdb] [saucenao] [google]
2550748

>>2550186
Fuck you, I have the immunity dog. OP is a faggot

>> No.2550999
File: 9 KB, 238x192, 1498070063309.jpg [View same] [iqdb] [saucenao] [google]
2550999

This is a troll thread

>> No.2551077

>>2550186
LOL
mfw your dad murder suicides you and your mom