I’ve been dealing with some bad FOMO with respect to bitcoin recently. I passed up an opportunity to buy in at $2,500, and, in part haunted by this and by my failure to be even remotely aware of the bitcoin vision years ago, I’ve been considering taking a small long position at current prices.
For weeks I regularly felt the FOMO pulling me in. Every time I looked up the price of bitcoin, it was higher. So I funded my Coinbase account once more to be ready for a buying opportunity, but ultimately I decided to pay off the last of my debt instead. (If you do use Coinbase, consider trading on the integrated GDAX platform to minimize your fees.)
Here’s why I went with paying off my last $7,300 in debt rather than with buying bitcoin.