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Replying to Avatar WhiteRabbit

Tangential story - i have an old friend that got into bitcoin at the same time as me in 2013. Has a good fiat job that affords him a very comfortable life. Bought maybe a few coins early on. Just bought a new house and decided he was going to pay it off in full with his.... bitcoin. Same guy that still holds litecoin because of diversification.

When i heard it my mind nearly melted. You turned down the fiat financed at ~7% to take 100% of the upside off from bitcoin. Very likely those coins he burned to avoid the 7% rate right now will be worth 100x at the loan maturity.

Of course this guy is an MBA but he has lost the ability to think.

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HODL 1y ago

Many such cases

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WhiteRabbit 1y ago

Yea it’s like I’m not even advocating to never sell your bitcoin just never sell more then you need. Way to blow an asymmetric bet that will cost him and his kids 10’s of millions of dollars

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