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/biz/ - Business & Finance

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54978420 No.54978420 [Reply] [Original]

I used to keep about $20,000 in a savings account for an emergency. Never used any of it since I was 18. I've started living off a credit card capped at $2500 monthly. Paying that off every month and then whatever is left is put straight into BTC (and sometimes ETH/ADA/LINK/LTC if wanting to shake things up, but it's at least 80% BTC). I have a line of credit of $17,500. This is now my emergency funds. I decided to do this because cash on hand is always decreasing in value, and it's decreasing and a faster and faster rate. Crypto may go down, but it has a chance of going up, so I figure it's better placed there, because at least there's a chance of it gaining value. If I had done this back when I finished high school (right around when BTC came out) I'd never have to work ever again, so I figure I might as well do it now and see what happens. What do you guys think of this strat?

>> No.54978497

>>54978420
KOJIMBO

>> No.54978596
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54978596

>>54978420
Btc may go to absolute shit. Maybe it touches 16k again, who knows? If that happens, well, then you definitely buy. We can't break 30k yet. You buy BTC know at 27.2k, you will essentially buying the top with no hopes of serious profit (maybe 1.5x) and that if you wait until 2025 at least. Imagine the amount of people who bought at 30k thinking "this may go up to 40k!" and now are holding bags for at least a month, and maybe for a year if it plunges to 24k or even 22k since we're in blatant ponzi shitcoin season and people will be even more deterred to invest in cryptocurrency in general.
>If I had done this back when I finished high school (right around when BTC came out) I'd never have to work ever again, so I figure I might as well do it now and see what happens
Don't fall for the classic gambler's fallacy. You'd be happier with huge losses than with little profits if you think that way. Be happy and content with whatever profit you can make out of this clown manipulated market