Quote from: Gatorelf on Today at 12:35:16 AM

Quote from: JayJuanGee on May 30, 2021, 08:24:40 PM

Quote from: somac. on May 30, 2021, 09:50:01 AM

[edited out]

[edited out]

Let me clarify your misunderstanding, I am speaking in general when someone takes the equity out of their home that's fine great to use for whatever is needed. I just think its foolish to put it all in a crypto currency.

If you are talking about putting any money into crypto.. I would say fuck that.. who fucking cares about crypto..

But if you are talking about bitcoin then that is another story. In this thread we are talking about bitcoin, so we should be attempting to remove some fogginess in the logic by at least clarifying that aspect.

Are you referring to bitcoin Gatorelf, or are you referring to some more amorphous bullshit concept?

If you are referring to bitcoin, then sure, let's play ball in that area of discussion, and in that regard, I doubt that anyone is suggesting putting everything into bitcoin. So, perhaps the devil is in the details, no? If the house is worth somewhere between $200k and $500k, and maybe an equity loan could be gotten for up to a certain value, but in the somac example, he is not really saying how much that is being borrowed nor is he specifying what other investments that the guy might have. So you are being a bit presumptuous in terms of your assertion that the guy is putting everything into bitcoin.

Of course, built into the somac described-situation there is the concept of using debt to buy bitcoin, which surely could be a risky situation in terms of potential downside volatility, so a clear question would be ability to service the loan, whether the loan is for $10k, $50k, $100k or some other amount. Some peeps get loans and they believe that they are going to service the loans from the price appreciation of the other asset in which they are investing, and sure I don't have a problem with gambling some of that potentiality, but it is way better if the person taking an equity loan has a certain level of assurance that s/he is able to service the loan no matter the performance of the volatile asset (in this case bitcoin)... so sure it is a risk, but it does serve as way to leverage a kind of front loading and lump sum investing into an asset (such as bitcoin) that may otherwise require DCA or spread out investing, and surely some people (perhaps many) believe that they could be better advantaged by frontloading or lumpsumming into bitcoin rather than spreading their investment into bitcoin over 5-10 years... that may or may not pay off, even though many of us have been able to witness that bitcoin has so far done fucking great for anyone who is able to stay invested and keep accumulating or holding for at least 4 years, and we should recognize within that there is a risk that 4 years might not guarantee that the investment will be worth more, even though so far it has always been so long as at least holding for 4 years.

Quote from: Gatorelf on Today at 12:35:16 AM

If the investor is 50 years old or older there is no fool like an old fool.

You are coming off as a bit of a dweeb here. There are fucktwat fools in every age category, and sure there are people who never learn and make mistakes all of their lives. If we presume a kind of normalcy that people learn from their mistakes, then older people should end up being mostly more wise than young people.. even if some young people might have quicker thinking times or even some levels of cockiness that might be smart, but not necessarily wise.. so you are quite dumbassedly presumptive if you are considering older people to be dumb.. and yeah, maybe you are going to suggest that it might come off as dumb if an over 50 year old person has not become rich already and has to get an equity loan, then there is some presumption that the over 50 year old person is not smart... again.. you are just showing your own lack of abilities to adequately attack the issue or to convincingly make whatever points you are trying to make in regards to your presumption that it is better to not get an equity loan.. or some narrow-minded blanket assertion such as that.