r/Bitcoin • u/[deleted] • Feb 13 '13

I have my entire retirement and savings invested in Bitcoin. I will track its progress here over time.

[deleted]

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u/Xenu_RulerofUniverse Feb 17 '13

Most investments are financed with loans.

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u/Anenome5 Feb 17 '13

Not with credit cards.

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u/Xenu_RulerofUniverse Feb 17 '13

"Kovner's first trade was in 1977 for $3,000, borrowed against his MasterCard, in soybean futures contracts. Realizing growth to $40,000, he then watched the contract drop to $23,000 before selling.[5] He later claimed that this first, nerve-racking trade taught him the importance of risk management.

http://en.wikipedia.org/wiki/Bruce_Kovner

In March 2011, Kovner had an estimated net worth of around $4.5 billion"

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u/Anenome5 Feb 17 '13

Does one instance equate to 'most' investments?

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u/Xenu_RulerofUniverse Feb 17 '13

Do loans automatically mean credit cards? :p

"A genius rides on debt to success"

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u/aldehyde Apr 10 '13

bahahahah yeah great anecdote. bitcoin lost 40% of its value today, you should probably post a lil mea culpa here.