Pay off my house or buy Bitcoin?

bloodsport wrote:

I owe right at 50K on my house. My interest rate is so low I now struggle to exceed my standard deduction and I like the piece of mind of having my house paid off. That being said someone made the argument to buy bitcoin...at least 2-3 shares. My 401K and SEP is great, I have an otherwise diversified portfolio. I know there are a million other things will get suggested, I'm specifically asking if you had the cash, would you buy bitcoin?

Pay off the house. Use the money you save in outgo after that to invest or save up to invest in bitcoin.

If you're worried about not getting enough of interest deduction, take out a huge home improvement loan.

Do you understand what bitcoin is and why its value is increasing? I try not to invest $20k in things I don't understand, otherwise you might as well go to Vegas and put money down on red or black. Same odds.

Buy Bitcoin . More specifically buy 60% ethereum and 40% Bitcoin. This is the last time in your lifetime you will see this. This is equivalent to the nascent internet.

Cryptocurrencies are here to stay. They are very understandable. Read about it.

Keep it invested for the long haul. I’m in and my advice is to not look everyday at the price. It’s very volatile, but the overall trend will be significantly positive over the years.

Paying off your house is not a good idea whether you are buying Bitcoin or not. Long term debt at a low interest rate is the better option.

Cryptos are this generation’s chance at life altering investment. Especially in your situation with good 401k etc

No.

fakeitmakeit wrote:

If you're worried about not getting enough of interest deduction, take out a huge home improvement loan.

Yeah and make sure you get the highest interest rate possible. Ya know ... Maximize your interest deduction. GUARANTEED, by Fagpole.

Please keep pumping up bitcoin so I can cash out.

Pay off your house.

Bitcoin fanboys are like the beanie baby collectors of the 90s. Yes they some have value and utility.

Yes rubbing them against yourself feels good.

Yes, it is a bubble.

There is a decent chance the value will keep skyrocketing and go up tenfold or more in the next ten years.

But my advice -- don't invest more money than you'd miss if it all disappears.

Warren buffet says bitcoin is a bubble. Therefore stay away

are hedge funds allowed to invest in bitcoin (or the crytpto market in general) yet? Talk about market makers, they will have a big impact on if or when that happens.

fomo wrote:

are hedge funds allowed to invest in bitcoin (or the crytpto market in general) yet? Talk about market makers, they will have a big impact on if or when that happens.

They won't because they know it's a fraud

Everyone I know in bitcoin now is mostly uneducated. I see people who live in ghettos have bought it. They have no retirement savings but they are buying bitcoin.

I repeat - Warren Buffett said Very clearly that it's a bubble.

Flagpole wrote:

bloodsport wrote:

I owe right at 50K on my house. My interest rate is so low I now struggle to exceed my standard deduction and I like the piece of mind of having my house paid off. That being said someone made the argument to buy bitcoin...at least 2-3 shares. My 401K and SEP is great, I have an otherwise diversified portfolio. I know there are a million other things will get suggested, I'm specifically asking if you had the cash, would you buy bitcoin?

Pay off the house. Use the money you save in outgo after that to invest or save up to invest in bitcoin.

Do this but additionally under the condition to buy bitcoin only after it tanks.

Cryptos are here to stay but not at this price. Buying when the majority says it's a buy is a fool's game, that is the definition of a bubble.

Flagpole wrote:

bloodsport wrote:

I owe right at 50K on my house. My interest rate is so low I now struggle to exceed my standard deduction and I like the piece of mind of having my house paid off. That being said someone made the argument to buy bitcoin...at least 2-3 shares. My 401K and SEP is great, I have an otherwise diversified portfolio. I know there are a million other things will get suggested, I'm specifically asking if you had the cash, would you buy bitcoin?

Pay off the house. Use the money you save in outgo after that to invest or save up to invest in bitcoin.

That advice is horrible.

Don’t pay off your house. Paying off your house is a purely for psychological benefit. It 99% of cases it is not a wise financial choice.

Cryptopositive wrote:

This is the last time in your lifetime you will see this. This is equivalent to the nascent internet.

I know a dog sock puppet who might disagree with you on the first part, but would totally back you up on the latter.

I've still got hope for my Webvan stock. C'mon baby, bounce back!!

Cryptopositive wrote:

Buy Bitcoin . More specifically buy 60% ethereum and 40% Bitcoin. This is the last time in your lifetime you will see this. This is equivalent to the nascent internet.

Cryptocurrencies are here to stay. They are very understandable. Read about it.

Keep it invested for the long haul. I’m in and my advice is to not look everyday at the price. It’s very volatile, but the overall trend will be significantly positive over the years.

Paying off your house is not a good idea whether you are buying Bitcoin or not. Long term debt at a low interest rate is the better option.

Cryptos are this generation’s chance at life altering investment. Especially in your situation with good 401k etc

Not good advice. It's possible cryptocurrency will stick around, but country regulated....existing ones have a good chance of being squashed all together once regulation happens. You won't have Wild West currency exchanges doing whatever they want in the near future.

Pay off your house or buy some REITS. Stay away from that lunancy.