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/biz/ - Business & Finance

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4176169 No.4176169 [Reply] [Original]

Need some advice. I've got a stable job and as such I've got 17k credit on credit cards and overdrafts so I could potentially spend 17k on bitcoin. I've been thinking about buying up bitcoin before the fork and then after paying the 17k back and being left with the profit. what are the pros and cons of this tactic?

>> No.4176222

Cons:

1) Hard to buy that much BTC with credit unless you overpay (Coinmama)

2) Why so late to the party? We already pumped so high. What makes you think you'll be in profit after the fork?

>> No.4176310

I could put all the money into my account on coinbase no problem.

last hard folk we all made out like bandits getting the same in bit coin cash as we had in bitcoin

>> No.4176325
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4176325

>>4176169
Solid plan, OP. What could go wrong?

>> No.4176348

>>4176169
There is no bulletproof way of timing the correction, it could start the second you buy and you have to assume that is a possibility.
I don't see it going beyond 9 buy that time, not enough gains for the risk imo. I could be wrong.