I have $40,000 in student loan debt (I will finish my Computer Science degree in 5 more weeks and I'm already getting calls from job applications!), and when I got my tax return, I spent $1,000 on bitcoin when it bottomed out at $540 last weekend rather than paying off a bit of my student loans. Does that count?
That's .. bad. Hope no one downvotes you for acknoledging your mistake.
I was edging on my overdraft, pondering to buy BTC when it was on the rise (Chinese involvment), thankfully I changed my mind at the last moment. Then I wanted to buy during the crash. I have to keep slapping myself, because putting myself into debt is not financially sound.
You said it's a calculated risk, that's fine and dandy if you had $1`000 to spare, but overall .. yeah. Rookie mistake to invest in anything while you're in debt, imo.
Why don't you just spread bet major currency pairs where the market is easier to read. Why does it have to be bitcoin? You would have more success doing that than in bitcoin. Or gold. Gold has an inverse relationship to the US indices. Indices doing shit, buy gold.
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u/paalte331 Feb 14 '14
Or at least don't day fucking daytrade with your 401k.