Tell me this isn't bullet proof

1.get your CC buying limit up to $2,000 on Coinbase

2. Buy $2000 worth of BTC a week(in the dips of course), maxing out however much credit you have. Let's imagine this is $50,000. Should take 25 weeks.

3. Wait 6 Months after that, paying the minimum on your cards + $20.

4. Bitcoin goes up 45% over the course of the next year at a modest evaluation --$7975.

5. Profit $22,500 on the safest investment in crypto. Meanwhile playing with $10k of alts on the side.

6. If the bubble bursts, kill youself.

you had me at step 6

This is just crazy enough to work...

if you did it at the beginning of 2017, averaging the BTC costs, you'd be sitting on about 30 bitcoin. $165,000. Minus the initial cost, $115,000.

Now we can't assume the growth rate will be as high as it was this year, but even at a modest 45%, its not a bad idea.

22k or death?

how many lambos is that

death or glory plan, may work

If anyone is crazy enough to try this, at least get a card with a good reward system. 50k in spending can get you at the very least $500 back in return, along with a ruined credit score

its about 100 miliLambos

It can work but it's also how a lot of gamblers ruin their lives.

I don't really think its all that crazy. Worst case is BTC doesn't grow as fast as my prediction. Then you just cash out and pay your balance back. It will slightly hurt your credit because of having high balances/running near limit, but that is temporary and unless you're buying a car/house, wouldn't matter much.

Yeah using a card with benefits would help cut the interest rate/minimums you're gonna have to pay.

I would do it after the forks. China isn't gonna mess anything up, the only enemy is the US government at this point.

my coinbase cc limit is the same as my actual cc limit, you must be a nigger.

Who the fuck only has a 2k credit card buy on Coinbase?

that's the limit for new accounts now

enjoy getting raped in taxes and credit card interest

buying over the course of 15-25 weeks averages out the costs better, taking advantage of dips/FUD, which will happen. Yeah you could buy all at once but you are fucked if things turn ARK

I created my account a few days ago and got a $500 weekly limit

Coinbase why

I’ve already done this and it worked out really well. I put in 2.5k of credit and made out with 12k. Paid off two credit cards.

You think a bank will give me $100,000 in the form of a small business loan for my crypto investment firm?

>coinbase
I paid like 100 bucks of fees for 2000$ of btc.
What the fuck man

The interest would be less than $2000 Plus you could pay off the initial buy with profits to make that even less. Yes you would have to pay taxes on it, but you would anyway on any 10x alt gain unless you were dodging them.

no, bank loans are for very specific types of faggotry, especially at the retail level

>you can't get a darn loan if you are rich like me.

If you already have a small business, with a net profit of at least $150,000 a year, with a decent credit score. Yes you could get a line of credit for $100,000. Usually a line of credit like that needs to be paid back over 12 months or its rolled into a loan.

I don't think you would have much luck if you're doing it strictly by starting a crypto 'business'. Unless you had a lot of collateral or something.

In about 2.5 months, as long as you have your bank account hooked up, you should be at 2k

your coinbase CC limit is $50,000?

didn't know it went that high, bravo!

>3. Wait 6 Months after that, paying the minimum on your cards + $20.

Nigga you can sign up for special offers such as 12 months x 0% Interest rate.

However, you forget that the tax man wants a share of your profits which are short-term capital gains.

The new card 0% rates will have a lower limit than all of the cards you probably already have combined, but yes, that is a great idea/would help.

The interest really isn't gonna be an issue since you're only going to be holding the credit card limits for less than a year.

Yeah the tax man is gonna be an issue, no way around that unless you want to risk it. Look on the bright side, you'll be increasing your social security benefits? lol