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/biz/ - Business & Finance

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12974410 No.12974410 [Reply] [Original]

I want to cash out my 401k and go all in BTC. Would I be smart or an idiot to do this?

>> No.12974418

>>12974410
youd be an idiot, but maybe a lucky idiot

>> No.12974417

>>12974410
take a loan up to 50k, the interest goes to you, no taxes no penalties. downside is locking up more money in 401k but i did something similar

>> No.12974425

>>12974410
if you're buying that core infected btc, you're an idiot.

if you buy the real bitcoin, bsv, you will be one of the few who control the world.

>> No.12974426

>>12974410
>putting your life saving on a meme line

>> No.12974430

There's a bear who moved 60k BTC recently, expect a BTC dump before futures end on Wednesday

>> No.12974433

>>12974425
What the fuck is BSV? I’d be buying BTC.

>> No.12974449

>>12974433
Fake Satoshi product, the fuckers try to mess with the real BTC all the time, first Bitcoin Cash, now this

>> No.12974454

>>12974433
BSV is the upgraded version of BTC. BTC is old and outdated. BSV is the one that’ make you rich.

>> No.12975546

>>12974410
As soon as those dots turn teal, it's going to skip the dark blue and DUMP incredibly fast, incredibly hard.

>> No.12975585

Put 200k in BTC, XMR and LINK. Keep the rest.

>> No.12975749

>>12974454
Wow, even you know how weak that sounds.

>> No.12975763

Well, i've always believed this chart. And am a boomer who's in bitcoin for years. Last bullrun what you would see is absolute retards who wanted a get rich quick scheme and invested in bitcoin. Worldwide, i know 2 friends of mine who suddenly bought coins. That pumped the price to 20k.

For bitcoin to go to 100k, 5 times the amount of those retards need to invest again. These are the guys who lost their money or took quick profits. Talking to them, they aren't eager to throw money at bitcoin again.

and that's the fundamental problem for bitcoin at the moment. We got the hype, it's still isn't used for anything except to sell higher. I just don't see 5x the amount of people investing then there was in 2017. Maybe in a couple of years when new blood enters the markets

>> No.12975771

>>12974433
good man! sv is a scam

>> No.12975860

>>12975763
>For bitcoin to go to 100k, 5 times the amount of those retards need to invest again.
thats not true
also at less than 0.1% adoption rate im not worried about growth potential

>> No.12976193

>>12975763
do you understand markets?
we don't need 5x more people to go 100,000$
you are a total brainlet
kys

>> No.12976208
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12976208

>>12975763
>For bitcoin to go to 100k, 5 times the amount of those retards need to invest again

Literally single digit I.Q. who doesn't know basic Economics.

>> No.12976241

>>12975763
im just here to confirm you're a retard.

>> No.12976377

>>12975763
>t. boomer who's been in bitcoin for years yet has no clue how financial markets work
i thought even sub 80 iQ's figure this shit out eventually

>> No.12976403

>>12974426
fucking YOLO bro

>> No.12976411

>>12974410
that's a boilerplate no-brainer investment
your 401k is worthless and BTC is the most basic coin there is
easy

>> No.12976428

>>12974410
everyone who's not 100% crypto is retarded

>> No.12976450

>>12976193
>>12976208
>>12976241
>>12976377
no argument

>> No.12976457

Wait, so OP is asking you guys if he should sell his actual investments to buy lottery scratch-off tickets and you aren't trying to talk him out of it? For shame... It's clear he's mentally challenged and needs our help guys.

OP, the correct answer is no, you shouldn't do that. You'll end up broke with a 401k loan you can't pay back, at which point the feds will tax and penalize you for being retarded.

>> No.12976465

>>12974410
All I see in your pic is honk honk memes

>> No.12976467

>>12974418

t. real estate investor

>> No.12976477

>>12976428
lmao

>> No.12976491

>>12976465
Kek

>> No.12976819

>>12974410
Keep your 401k, buy Bitcoin with your beer money

>> No.12976833

>>12976819
this, slush money into btc/eth

>> No.12976843

>>12974410
Wait for 6 months.

>> No.12976845

>>12975763
It won't be investing if people are simply using it.

>> No.12978105

>>12974410

a lot of millennial's will probably do this because we all fucking hate banks and corporations so we would rather see our shitcoins go to zero than support the parasitic leeches