Buying Cryptocoin at any Price – Not necessarily the market price but the price of lifestyle changes.
Talk about buying cryptocoin at any price! The story of Didi Taihuttu and his family selling all of their worldly possessions and moving to a forest so they can plow every penny into buying cryptocoin is by now very well known. House? Sold. Cars. Gone. Motorcycle? Bye Bye. Shoes too. (Just curious…. Is this Dutch family now living off the land wearing animal skins and running amok in the forest barefoot?) All kidding aside they reached this decision this past summer as Bitcoin hit $5,000. Earlier today BTC was flirting with the $12,000 mark so there’s nothing funny about making a lot of money on bitcoin and altcoins.
A similar mindset has taken hold across the cryptocurrency community at large. Visit most any Reddit or Facebook group and there’s talk of people living on Ramen noodles and cutting the cord so they can pour more money into digital currency. Buying cryptocoin at any price indeed! One fellow was considering taking out high interest payday loans to buy bitcoin at the last dip of $9500 a few days ago. For those who may not know this, payday loans charge sky high interest that are just one step away from usury. Yet the calculations seemed sound; even paying the confiscatory finance charges on a short term payday loan would still lead to a cryptocoin trader making a profit of 30% if he had bought at the most recent low of $9,500 then sold that block of bitcoin at the most recent high of $12,800. The payday loan would’ve been paid off in five days flat while proving that profitable bitcoin daytrading is a thing.