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0 sats \ 2 replies \ @pappasbland 15 Jul \ on: How are you planning to deploy your Bitcoin wealth in the coming years? bitcoin_beginners
I said this on Nostr but I'll post it here too as I can see myself spending more time here than there for a while.
I think it will be really tough for many to know what to do with astronomical gains and how to hodl when the number becomes something huge. If you believe in Bitcoin it doesn’t make sense to cash out for USD at some lofty valuation – then you’re just stuck with a currency that is going in the wrong direction and have no Bitcoin to show for your efforts – but I suspect the gains will be too good for many to ignore. We're all human after all.
I do think that trimming some BTC to pay off debt or buy a house outright as you said are good ideas, income generation, and a Bitcoin-focused business is an excellent idea. There is essentially no Bitcoin community here in western MA as far as I am aware, and the idea of gradually raising awareness and educating others appeals to me. I'm sure it's the same for others here. It will no doubt vary for everyone but improving one’s life (and helping others), freedom, independence, life experiences are always worthy goals.
Totally agree. I think @klk and I have similar alignments though with getting a loan against our bitcoin. After all, this is what the wealthy do with their assets
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A loan against your BTC is similar to using margin against your stock holdings. It can all work out nicely, but things can get messy fast when the valuation of whatever you were borrowing against plummets hard. That's no fun! But if you limit your loan, make repayments, and the underlying asset remains elevated then you're all good.
-Tom
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