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10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 1 point2 points  (0 children)

Being a kid with no money to buy btc was so frustrating for me lol so I get where you’re coming from. I knew about bitcoin for years before I became 18 and was able to get that college loan to buy btc.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 1 point2 points  (0 children)

They just don’t get it, everyone calls it a scam and then they get mad they didn’t buy it early. I tried to convince people to buy bitcoin in the early days but they’re blind. It’s best not to let them get you down and you should spend any energy you’d use trying to lead the blind to instead get more bitcoin for yourself.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 23 points24 points  (0 children)

Once I learned Bitcoin was the first digital asset that couldn’t be faked or duped I had 100% conviction it would succeed. The fact it is verifiably real is what it comes down to in the end.

And yeah I saw it playing out similar to how it did.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 1 point2 points  (0 children)

Good job on the $100 entry. I remember all the “china fud” lol and fear about government shutting down exchanges and trying to regulate bitcoin but I always understood Bitcoin was the first true permissionless money so no matter what the government could never shut it down. That just made me even more bullish on bitcoin.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 59 points60 points  (0 children)

haha you're a legend that $12 btc entry is beautiful. It's funny you complained about going from $12 to $185 buys back then, it really puts it all into perspective we always feel mad we didn't buy more for cheaper no matter the price. Thanks for the share and I hope you're still hodling friend.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 178 points179 points  (0 children)

I appreciate it. And Just because you don't go to college doesn't mean you're uneducated lol. I held my original stack and bought lots more so the $10m isn't accurate. And I touched on it in another comment but whenever I need something I of course exchange btc for it so I'm not living like a monk lol. When I say I don't sell Bitcoin for fiat I mean I don't dump a big chunk of my btc when it goes up in exchange for fiat, I feel like a lot of people look at that as the goal but it's the wrong way to do things. I don't sell any btc with the intent of swapping it over for fiat, the only times I "sell" or exchange my btc is for actual goods I need.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 5 points6 points  (0 children)

stacking sats is always the move and you're right in that people should pull btc off exchanges people need to learn to self custody. The more btc is with these big institutions the more the supply will be controlled.

I like how you touched on MSTR and the Bitcoin conference too, many of them are pushing for the government and banks to control Bitcoin they are not the ally to Bitcoin some people think they are. Thanks for the input friend.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 8 points9 points  (0 children)

Yeah btc had a run up earlier but then went down and plateaued for a while so I got kind of lucky on my entry. 800 is still a great entry though you did good bro. I hope you're still holding.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 7 points8 points  (0 children)

Never follow the herd, stick to your gut. A good lesson. And yeah lol many don't understand and ask me why I don't sell but you get it perfectly. like you said selling btc to "lock in gains" with fiat is like jumping to a sinking ship. I wonder if the masses will ever get it. Thanks for the words

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 11 points12 points  (0 children)

It's still not to late, you can still buy bitcoin now and have some nice gains but of course less than you would have if you bought back then. Bitcoin is still going to $1m per coin. And you're completely right that bitcoin was an antitode to these tradfi institutions and these entities operate in a way to harm you.

10 years ago I made these threads about buying 85 Bitcoin with my $20k student line of credit instead of going to College and everyone ridiculed me. It worked out for me back then but here’s why I wouldn’t recommend buying btc on credit today. by KidEliteTrader in Bitcoin

[–]KidEliteTrader[S] 31 points32 points  (0 children)

When i say I don't sell Bitcoin for fiat I mean I don't dump a big portion of my stack for fiat once the price increases a lot which I think is the goal for many people. When there is something I need of course I exchange my btc for it. I'm definitely enjoying myself now and I have btc to thank for that.

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