18% of Investors Buy Bitcoin With Borrowed Money - page 2.

malikusama

copper member

Activity: 1050

Merit: 294

Quote from: squatz1 on January 06, 2018, 11:47:50 PM

This really does highlight the stupdity of people, these are the same people who go ahead and think that Bitcoin is going to 1M and they need to get in now. They probably don't even know anything about Bitcoin in the least though they think this is the path to finally making millions. I guess they'll be surprised when they get fully fucked as Bitcoin is taking a bit of a downturn -- at least from 20k

It's sad that this is the type of lesson that people need in order to not use margin to invest or to GAMBLE (as Crypto is basically gambling)

Exactly, People do have a firm belief on bitcoin due to the price increase in last year but along with the bielief they should no about the risk and this is possible if they have knowledge of bitcoin, mostly people don't have a proper knowledge of bitcoin and blockchain and they are investing like crazy.

vintages

full member

Activity: 966

Merit: 153

This is such a very risky act! Why would someone ever thought of doing that? Is it that some digital investors are becoming more greedy or what? In as much as Bitcoin is booming and is a good investment, borrowing to invest in it is way too risky. Do they ever thought, what if bitcoin price goes down and became steady what would have happened? This is a big no for me.

removebeforeflight

sr. member

Activity: 696

Merit: 258

Nothing harm in buying bitcoin with borrowed money. Those who don't have investment in hand also wants to earn some profit and wants to double or triple their money would definitely dare to take this step. However, after 1 or 2 years they can earn x5 times minimum of their borrowed amount growth for sure in bitcoin.

zarados

full member

Activity: 364

Merit: 130

18.15% are people who dare to take risks. I have said this in my previous post.
https://bitcointalksearch.org/topic/m.27632238
As I know, credit cards have a limit on the amount of loans that users can use, and each month, the user must pay at least 10% of the total loan used + interest. As long as the user still has other income that can cover monthly installments, maybe it's still safe. But if not, I think that's very risky.

pentol86

sr. member

Activity: 851

Merit: 254

Borderless for People, Frictionless for Banks

not all people rich, especially from third world. with the accuracy of the analysis and calculation, they can gain a bit of profit from investing in bitcoin

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: Hydrogen on January 06, 2018, 04:35:00 PM

Excellent post, OP! Cheesy

This is the first positive news story covering credit card use that I've read in a long time. Usually the only stories I see about credit cards are doom and gloom topics like "consumer credit card debt is at all time record highs, its the end of the world, kiss your butt goodbye~". This shows how great bitcoin is. It can take something negative like credit cards, some of which have high interest rates, and turn it into a positive thing where credit card users profit off of bitcoin's long term value.

This could serve as a microcosm of how bitcoin benefits the economy, job markets and has other far reaching and difficult to pinpoint positive implications. Maybe an example of how bitcoin benefits society and civilization and things like that.

Wait, how could you say it's a good thing? I suppose you could consider it as such because it would seem some people have success with it, and more people entering the market is always a good thing, but I find the practice incredibly irresponsible.

You're essentially investing with money you don't have. Fact of the matter is that Bitcoin is speculative, and that 'good' news could just as easily have been bad. Many will tell you that you should only bet what you can afford to lose, and this looks like it just shatters that completely.

But uh, different strokes for different folks, I guess. If it works for them, then I can only really wish them luck.

Happiest

member

Activity: 207

Merit: 22

Or else whomever borrowed to invest in any cryptocurrency is 100% sure that his or her invest will yearn a particular profit then they can do so but if not, this is way too risky to do so. Investing in a cryptocurrency with a borrowed money is so much different from borrowing money to set up a business. At least in a business you many be quite sure your business will yearn some profit but cryptocurrency is a risky investment. This is just pure foolishness.

Vatimins

sr. member

Activity: 987

Merit: 289

Blue0x.com

Man, i never thought people can be this stupid or greedy. Imagine spending money you do not own and just borrowed which is already something that's enough to make me have sleepless nights, let alone the fact that you haven't payed yet but still plan to invest more and more to bitcoin. That is just wrong people.

But yeah i get it, bitcoin is really tempting. But unless you have spare to invest, don't jump into it. Like rely on bitcoin for your future. That is just plain dumb. I cannot even think about what they will do if certain emergencies come.to their lives and they cannot loan anymore. Oh well, that's their lives, can't do anything about it. Just sad that people are this greedy or dumb.

alisafidel58

full member

Activity: 364

Merit: 127

Quote from: Ariel1122 on January 07, 2018, 01:55:20 AM

Holy moly that a bad idea borrowed money to invest in bitcoin what if bitcoin become useless after they invest in bitcoin?

Ive seen a lot of people borrowing money to buy bitcoin when there was a bull run, but they were to late to join the ride and then the dip came through, they bought at $18k thinking it will continue to rise but to their surprise bitcoin was dipping fast and they lost a lot of money.

Quote from: Ariel1122 on January 07, 2018, 01:55:20 AM

we know that bitcoin is very votile, but they take the risk they have a great trust in bitcoin i salute you guys.

The risk taker are newbie to crypto currency and doesnt know a thing or two about bitcoin, they only join bitcoin because of the popularity that you can be a millionaire someday in the future just by holding bitcoin.

eaLiTy

hero member

Activity: 2814

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Have Fun )@@( Stay Safe

Quote from: Ariel1122 on January 07, 2018, 01:55:20 AM

Holy moly that a bad idea borrowed money to invest in bitcoin what if bitcoin become useless after they invest in bitcoin? we know that bitcoin is very votile, but they take the risk they have a great trust in bitcoin i salute you guys.

Bitcoin is not a technology that would become useless all of a sudden but the volatility in price will be there , borrowing money to invest in something is always a bad idea but the price if bitcoin attracted many to make money in a short time and so is the reason we saw that trend.

Ariel1122

newbie

Activity: 56

Merit: 0

Holy moly that a bad idea borrowed money to invest in bitcoin what if bitcoin become useless after they invest in bitcoin? we know that bitcoin is very votile, but they take the risk they have a great trust in bitcoin i salute you guys.

BrewMaster

legendary

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There is trouble abrewing

well, this is nothing new. people have been making investments like this (with the money they do not own) for a very long time. of course some small number of them do this with some calculation of the risks but most of them do it recklessly. and this is not limited to bitcoin at all, they have been doing this in stocks market and in many other markets and investment types.

sometimes it is a good thing to take risks like this for example you borrow money and invest it in your own business and make it grow and pay it back after earning a lot more profit.
but sometimes some people do it just because they feel left out and want to take huge risks and it can end badly.

Fitrilalala

member

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The Exchange for EOS Community

The investor hope that bitcoin profit that they keep as invest could pay the interest of credit card. It showing how people can get crazy with bitcoin. In the fact they do gambling with their real life. Bitcoin didn't always growth high sometimes its growth really low. Better using your own money to invest in bitcoin than should rise the debt.

Indrawan77

hero member

Activity: 1274

Merit: 516

Some people like to gamble, and if you are sure that you can return back the money you borrow then its okay, as we know crypto currencies got a good potential to earn only by holding it for some time, when people see the opportunity to make profit they will use every source to make it happen, and the bigger you invest the bigger payout you will get, but the person that lend money to invest sure got a good mentality

shahani

jr. member

Activity: 140

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It is true that there are people borrowed money to invest bitcoin. Mostly people working in some banking institution. They used and borrowed money from their workplace bank and invested to bitcoin that's why some large banks react of the price of bitcoin falling, because they got losed. It is only my own opinion.

Stegobit

jr. member

Activity: 154

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Although I am strong cryptocurrency believer, borrowing money to buy Bitcoin is too risky. For a short term its fiat value can fall, but you nevertheless have to make payments. In worst case you can become homeless!

arpon11

sr. member

Activity: 882

Merit: 282

This is very serious! I was thinking that money that should have been investing on this should be money one can afford to loss and not risk money from borrowing. Though bitcoin has returned huge amount of profit from it investors one has to really be careful the way they invest into crypto currencies. Many are using bitcoin as a mode of payment but and a lot of people are using it as investment with hope of huge return.

pugman

legendary

Activity: 2383

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dogs are cute.

Holy smokes. People are really stupid and dumb. I personally know a lot of people who are like damn rich now, and they didn't invest a penny in Bitcoin, they have all earned their way through and their hard work has paid them off finally. I believe loans should taken for investment only if you know what the subject is, otherwise that's sheer stupidity and a step taken for greed without knowing the consequences.

yepaiyique2

jr. member

Activity: 126

Merit: 3

I think it's very dangerous to borrow money to invest in bitcoins, because there are risks in investing, and there is no denying that investing in bitcoins will bring benefits, benefits and risks. When you assess risk, do you consider other factors that can be troublesome when you have no money to borrow?

bryant.coleman

legendary

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Merit: 1217

I am strongly against making any such investment, but till now Bitcoin has given massive amounts of returns to whomever invested in that asset. So I don't have the right to advice anyone. If they want to take the risk, then let them take it. There is also a possibility that these guys will be having a better understanding about Bitcoin when compared to me.

Topic: 18% of Investors Buy Bitcoin With Borrowed Money - page 2. (Read 479 times)