Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
InvestAnswers just said something I've been thinking about for a while.
Although paying off my mortgage is something I could do with the BTC gains he pointed out if you borrow against 2-3% it's really (almost) free money considering the massive inflation rate.
Michael Saylor has been talking about the near zero business loans also.
At least mortgages for individuals are still low, unlike ridiculous credit card rates.
Furthermore I believe BTC will go much higher.
A $1 million BTC and even $10 million BTC in the next 5-10-15 years will not surprise me. Well before my mortgage ends anyway.
Also, these free interest loans on furniture etc make sense since you will really pay less over the entire period rather than in 1 chunk today, again due to inflation.
Although paying off my mortgage is something I could do with the BTC gains he pointed out if you borrow against 2-3% it's really (almost) free money considering the massive inflation rate.
Michael Saylor has been talking about the near zero business loans also.
At least mortgages for individuals are still low, unlike ridiculous credit card rates.
Furthermore I believe BTC will go much higher.
A $1 million BTC and even $10 million BTC in the next 5-10-15 years will not surprise me. Well before my mortgage ends anyway.
Also, these free interest loans on furniture etc make sense since you will really pay less over the entire period rather than in 1 chunk today, again due to inflation.
For you, yes paying on a low interest mortgage while letting your bitcoin ride is probably the way to go for now.
But keep in mind, that you may still want to pay if off earlier than 30 years.
Here's why: Most people don't anticipate ever getting laid off (even once, much several times) and don't believe ageism is even a thing.
You really think that you'll stay employed for 30 years solidly straight with enough income (adjusted for insane inflation) to keep paying that mortgage every month/year and still have enough income left over to survive? You think that you'll be payed the same or more at 60 yrs of age, than you were making at 30? Think again. The time of 30 year careers is over. More like 15 at best, and then you have a career crisis.
Exactly. That's why I have a rule: Never ever get loans. Want a better car? Save money, invest in Bitcoin, whatever, until you can afford to pay the full amount. Want a better house and can't buy it? Stay at your current house until you can afford the better one. I don't want to have to pay back some bank for decades and being forever tied to them. The only loan I would consider getting is to buy a house if I didn't own a house. Fortunately I own my house. It's not the most luxurious house, but it's mine, and I don't owe anyone anything.
...and Bitcoin can greatly help do the above!
Regarding your house....
You may well need to be upgrading soontm.
#justsaying
[edited out]
Great job, JJG, my man! Stinky bears exposed. Now desperately trying to join the party. That's FOMO at it's best!
ah ha!!!!
Of course, each of us have some guilt in terms of re-writing history in a way that is more favorable to our own circumstances or where we might have been financially/psychologically at time 1 versus time 2 or versus time 3. I catch myself doing the same.. and some of it is more innocent than others in terms of just reframing based on subsequent learnings that might not have been part of the conscious thinking during time 1 even though some of the learning may have come in time 2 and other parts of the learning came in time 3.. and of course, once some of the facts develop in time 2 or time 3, then some of the understanding of what had been happening in time 1 becomes more clear based on how the facts end up playing out... but we did not know (or might not have even adequately considered or given enough weight to how the facts ended up playing out in time 2 and/or time 3).
I would not even be suggesting that in time 1, ONLY giving a 30% likelihood to how the facts would play out in time 2 and 20% in time 3, and then that might only add up to some even lower probability would have even been the wrong assessment, because the actual way that the facts play out does not mean that the assessment in time 1 was wrong.. and so there is likely quite a bit of justification in reassessing from time to time, especially once we see how facts actually end up playing out as compared/contrasted with how we had predicted them to play out at various earlier points of time.
I do believe that some guys are more extreme in their selectively remembering "I was there all along," or back when BTC was $250 in 2015 for the whole year, I was "stacking like a mo fo".. and the reality of the matter was that a lot of us were scared as fuck in 2015 and we were not "stacking like a mo fo" and the more retrospectively bullish of us who had gotten into BTC in the past year or two (meaning 2013/2014) were either just HODLing or stacking a bit here and there from time to time while hoping for the price to go up and to bring our portfolios out of the red... of course the pre-2013 HODLers were in better shape, but not all of them fared well during that period either in terms of "mistakes being made" based on psychology and/or taking some financial risks.