During the ride down from $69k Bitcoin, I took out 0% interest credit cards to Stack Sats.
I didn't buy as low as I could have and have been paying ~25% interest on these for about a year.
It was a good investment, but now it's hurting my mental health and I still can't justify selling.
The bottom of the Bear Market was DARK and I can't wait to throw that weight off my shoulders finally.
if it's hurting you mental health I would sell some corn to pay it off.
gonna hold out a bit longer
If itās hurting your mental health then you have all the justification you need to sell some corn and pay off your debt
not quite there, but close
You need to pay off your debt bro.
Don't listen to people who say stack'll to the moon because here's the thing, they're not you, they don't have to deal with the consequences of your debt.
Yes, Bitcoin is valuable, and may appreciate in value but what's more valuable is financial stability, the ability to control your life without fear.
yeah but also I'm the guy saying Bitcoin moon
I mean Bitcoin went from $108,000 down to $93,000 but your financial, and mental wellbeing isn't worth dealing with that.
I've sold Bitcoin to pay fiat bills, did it suck yes but it was what I had to do at the time.
I'd rather live with this than live with myself selling before the next year given what I expect to happen.
just venting here
Your š½ should liberate you fren and not cause you mental anguishā¦ā¦..
Take that weight off your shouldersā¦ā¦
not yet
Been tempted to do the same. sounds very stressful though.
25% is a lot of interest, man. I understand the conviction but i'd be tempted to get out from under that.
I'm tempted, yes, but also
I still think it would be retarded to sell.
- "If it's bothering you, take the weight off bro"
Can you imagine how shitty I'd feel looking back at selling Bitcoin right now of all times?
It's all opportunity costs
Get more 0% cards and transfer the old balances. Itās the plebās speculative attack
have been trying, but they aren't giving them out like they were before the rate hike
Some of those old cards might have a new offer on them. One compromise option is to just pay one of them off to create room to keep the balance transfer merry-go-round going
I just got one a couple months ago from Wells Fargo. Havenāt seen any others pop up yet.
I did the exact same thing a few years ago and Iām still paying off the debt. What I can tell you is that you need to do everything you can to not fixate on the balance. Remember to do balance transfers once interest starts to kick in. Iām on my 3rd or 4th balance transfer at this point. I worked it out so I could pay the smallest amount, allowing me to stack more in the interim, while still knocking down the debt. That card stays locked away so I donāt end up using it for anything else. Youāll get through it.
If youāre already paying interest you might as well go grab an M1 personal loan. Interest rate will be lower around 10% and the loan itself doesnāt report to your credit.
Donāt pay the banks that kind of interest man. Iām sure you could find a high trust bitcoiner to half that interest, or more, by paying that off. You got a business reputation to keep anyways, so Iām sure you would work the details between each other
