2020-2021 best year if You Want to become rich no skills needed - page 2.

Vishnu.Reang

sr. member

Activity: 1974

Merit: 453

Quote from: AjithBtc on August 07, 2020, 10:58:11 PM

Without skills it is impossible to make an earning out of taking loans. Maybe if you're lucky, you'll get to earn out of the investment. Moving to another country with the loan amount is not a wise decision, because I had a friend who got blocked from Dubai and was asked to settle his debts and move to India.

OP is asking others to commit fraud. He would take loans from various banks and then flee to some other country to avoid the repayment. I am not sure whether this will work that easily. In many nations, the banks can actually impose a ban on international travel with the help from courts, if they have sufficient evidence to prove that the individual who took the loan is trying to default.

xSkylarx

hero member

Activity: 2352

Merit: 593

Quote from: mich on December 02, 2020, 02:41:31 AM

There are so many people like you thinking 2021 will be the real breakout year for Bitcoin.

Will 2021 be really a good year for bitcoin? I'm still skeptical because I've seen its up and downs since its last ATH, and I can say bitcoin is a very volatile asset to invest. I'm hoping for a positive outcome but I just can't get out of my mind how hard will it dump after it reaches its new ATH. I'm just hoping that bear season last year won't happen again.

BuNga_cute

full member

Activity: 1736

Merit: 116

Indeed, this year the performance of cryptocurrency is very good, and I agree that this year it is very easy to make profit
from cryptocurrency. Because the crypto price continues to rise, and there is a possibility of a bullrun until the end of 2021.
But skills and knowledge are still needed to be able to make a profit, without skills and knowledge there is a possibility that
we will make the wrong decision. It could be that we lose the opportunity to get a profit, because we don't have the expertise
and knowledge. I believe to be rich requires skill and knowledge in market analysis.

sapnu

sr. member

Activity: 1036

Merit: 286

Quote from: Findingnemo on December 06, 2020, 10:53:44 AM

Quote from: ecnalubma on December 03, 2020, 09:42:44 AM

In investment you really don't have to be skillful but at least you have knowledge on the assets that you are buying. Also its twice the risk when your capital comes from loan. Even investing in Bitcoin has no guarantee that you will make profit in the future, thats why its better to study first before you buy anything in the market, setting limit in your investment not just go all in and get rekt later.

It shows how experienced you are in investment sector. Loan money is best for investing purpose but not on speculative assets like Bitcoin which has no predictable price even in short term but its best for business related investment. And don't think that you don't need skills to be successful because if you are right then everyone became successful with their investment.

It's just too risky to loan some money for your investment since you don't know what will happen in the future unless you are well-knowledgeable about the important information you need to know when supporting a project or doing some trading. It is better to do some business if you want to loan some money and you want to earn with that money you borrow since you can make sure that it will grow as long as you are putting some effort and hard work for that to succeed. Investing with your borrowed money is not a good idea.

doomloop

hero member

Activity: 2268

Merit: 581

Investing during pandemic was never something in question anyway. The real problem is, people with no skills do not have the money to invest anyway so how could they invest? If you have no money, that means this year and next year is not a year for you, you are gone and out of question. That shouldn't be the case, just because some people have money, they shouldn't have more money, that is the root of evil in our society right now where rich people get richer while poor people gets poorer.

Look at things right now, pandemic caused some people to lose their jobs and can't even pay their rent right now whereas some people who had a lot of money just bought up bunch of stocks and bitcoin and they are richer thanks to it, that shouldn't exist in society where poverty is a big problem already.

Findingnemo

hero member

Activity: 2310

Merit: 757

Bitcoin = Financial freedom

Quote from: ecnalubma on December 03, 2020, 09:42:44 AM

In investment you really don't have to be skillful but at least you have knowledge on the assets that you are buying. Also its twice the risk when your capital comes from loan. Even investing in Bitcoin has no guarantee that you will make profit in the future, thats why its better to study first before you buy anything in the market, setting limit in your investment not just go all in and get rekt later.

It shows how experienced you are in investment sector. Loan money is best for investing purpose but not on speculative assets like Bitcoin which has no predictable price even in short term but its best for business related investment. And don't think that you don't need skills to be successful because if you are right then everyone became successful with their investment.

bearexin

full member

Activity: 1162

Merit: 168

It depends on how much you’re investing Roll Eyes

when you’re investing the money and to what extent the price of Bitcoin will reach. All we are doing is speculations on what the price will be in the near future but we can’t tell where it will reach.

We are going to make some money for sure, but that shouldn’t be why you would think you’re getting rich, still continue doing other things you’re doing so that you can keep having income that’s coming in from multiple streams. While you’re making money from other sources you can be waiting for your invested in money in BTC to rise.

ecnalubma

sr. member

Activity: 1526

Merit: 420

In investment you really don't have to be skillful but at least you have knowledge on the assets that you are buying. Also its twice the risk when your capital comes from loan. Even investing in Bitcoin has no guarantee that you will make profit in the future, thats why its better to study first before you buy anything in the market, setting limit in your investment not just go all in and get rekt later.

Fortify

legendary

Activity: 2646

Merit: 1176

You have to be extremely careful making predictions like that, because as soon as you think you can predict the future the market has a tendency to turn the opposite way. I think for anybody who has been investing in Bitcoin before December 2020 should be very grateful for the returns that have occurred so far this year. Every long term investor should be happy enough for Bitcoin to stick it out at the current price level and even if it didn't move much throughout 2021 it would be great to hold the price around 20k. If you start getting greedy and hoping it will rush up to 30k or higher, you might (!) be very disappointed in the short term and worst case scenario it might drop back in price for a bit. It is a very dangerous game and nobody can really predict where the price is going, certainly wouldn't be in a rush to add more money right now or recommend that others do the same. Remember that is has moved up around $5k in less than 3 months, it would not be difficult for the trend to reverse as we've seen extreme drops can happen in the space of 24 hours.

Inkdatar

hero member

Activity: 1582

Merit: 523

If you want to become rich you need skills, and hard work in order for you to achieved it. Taking loans is a very risks steps to do. I don't believe in such thing getting rich without skills and knowledge. This is like you gamble and taking a ladder and regrets later. Gained knowledge first for sure you won't left behind and the more you earned knowledge the more you achieved in life.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: fullhdpixel on December 01, 2020, 12:58:59 PM

Quote from: uneng on November 29, 2020, 11:16:54 AM

I wouldn't advice anyone to take a loan to invest in crypto currency. It's like borrowing money to gamble.
Cypto profits may come in few days or years, it's unpredictable, but a loan starts with a timeline to be repaid. If the person isn't able to make his investment worth by the loan timeline it's game over, as the bank interest will start accumulating frighteningly. It's a very unresponsible decision to do so.

Well, yeah as much as I know the price will inflate in coming time, I hate loans even more specially when there is no proper logic behind it. I mean if you are taking loans because you have a good and no risk method to make more money with it, then go ahead and take one but if you are unsure about the outcome then it is indeed like gambling and taking loans.

Also one thing you need to understand is how much the interest is and how much the profit will be because at times you get overjoyed by a particular idea and take loans but later the profit is lower than the interest and it ends up being a bad investment.

Taking loans in order to trade is a very fast way to become poor, you need to pay interest for that money and where I live that interest can be as high as 50% per year, this means that you will need to generate 50% in profits just to break even and only the best traders around the world can do something like that, so it is better to not fall into that trap, if you do not have the money to trade the markets then don't do it and wait until the day in which you do, it isn't as if you have to wait doing nothing, you can begin to study the markets as much as you want and even if it takes you years to have enough money then by the time that you are finally able to trade you will be an expert trader from day one.

palle11

sr. member

Activity: 2310

Merit: 332

But really you don't take loan to invest in a business like cryptocurrency because it is not determined by you for growing. You need to invest with lian on estate business or land property that keeps to appreciate and not affected by many negative government policies.

Quote from: Polo7 on August 07, 2020, 08:14:56 PM

Loans are great idea if use them to get rich then You Can decide if u Even Want to pay Back loans.
You Can take some loans and Move to Other Country

You can not encourage that loans should be taken without motive for repayment.

goldade

full member

Activity: 896

Merit: 104

The Standard Protocol - Solving Inflation

Quote from: Polo7 on August 07, 2020, 08:09:26 PM

Its a best time for People to become rich.
Don't need skills just Invest in crypto stocks Gold and take Easy loans

I Think its a best time for People without skills or Much of Knowledge to become wealthy.
Tongue

When times are hard and no money in circlelation then its hard for People without any skills or education to prospel
Now its a time When a lot money will be Every Where and People like me without skills or education Can Finnally become rich and wealthy

I agree with you that now is the best time to make investments to get rich. I however do not believe taking a loan might be a good idea. Repaying of such loans might become difficult especially if things go south. I believe one should make investments out of savings and not loans.
Secondly, I think that making money out of investments shouldn't be done without adequate knowledge of what the investment is all about. How do one recognize a good or bad investment if one doesn't have enough knowledge to differentiate.
Yes, passive investment in crypto stocks doesn't require much knowledge but still one should be able to understand how these things work.

mich

legendary

Activity: 3122

Merit: 1032

#1 VIP Crypto Casino

Quote from: Polo7 on August 07, 2020, 08:09:26 PM

Its a best time for People to become rich.
Don't need skills just Invest in crypto stocks Gold and take Easy loans

I Think its a best time for People without skills or Much of Knowledge to become wealthy.
Tongue

When times are hard and no money in circlelation then its hard for People without any skills or education to prospel
Now its a time When a lot money will be Every Where and People like me without skills or education Can Finnally become rich and wealthy

Well you posted this post in Aug 7th and Bitcoin price was 11,600 and looking now it is 18,886.
So if you hopefully took owns advise then you are in a good position right now.
There are so many people like you thinking 2021 will be the real breakout year for Bitcoin.

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

This is good and bad for traders at the same time.
Entering the cryptocurrency market is saturated with risks and for newcomers this is a very dangerous place-there are scammers everywhere, dubious projects, fraud, a market collapse due to a cough from a McAfee or another stupid China FUD.
All this leads to the fact that some people are less willing to trade cryptocurrencies as soon as they begin to realize all the risks inherent in the market and return to the"classic market". Less often, they just buy and hold a small number of coins in order to sell them profitably after a long time

CarnagexD

sr. member

Activity: 1498

Merit: 374

Leading Crypto Sports Betting & Casino Platform

Taking loans is not a good idea. I am tellimg you that. But everything else you say is promising and may be true, butbI don't think it fundamentally doesn't need any skills to be used even in an "easy environment" as this year's, (which is not because of the coronavirus outbreak). It has to require some sort of skill or at the very least sufficient knowledge to take advantage of the ease.

hahay

legendary

Activity: 3458

Merit: 1055

Leading Crypto Sports Betting & Casino Platform

When times are difficult, of course it will make anyone who is less fortunate or lacks skills, at least it will be difficult to earn an income. So, how can everyone become rich without any capital to invest. Indeed, when you have money but you don't have the skills it can still make you successful, but it's different if they don't have and don't have the skills and with a difficult situation it will make their life more difficult, because basically skills are the main factor for you can succeed.

lixer

hero member

Activity: 2492

Merit: 586

Quote from: Sanitough on November 29, 2020, 07:02:46 PM

Some people can take that risk man, of course that's a huge gamble but if you are lucky enough you can still make a decent profit and you'll be able to pay the loan on time. We don't know what every trader or investors are thinking, if it's in my case, if I can borrow like $5000 and payable in 1 year, I would not hesitate to borrow it, but I would only invest if the market is bearish, not the current situation though.

But, you must have a backup plan because if things don't go as planned what are you going to do then? You surely don't have savings else you would take loan in first place so it becomes a very dicey situation.

Still I do feel that if one just borrows money and buy bitcoins for all the money then they will actually benefit much more because the growth is much faster than the repayment and you can easily pay out although a very risky thing to do. I would actually suggest doing that with your savings if you have any so that you are not under the pump of repayment.

fullhdpixel

hero member

Activity: 2786

Merit: 606

Quote from: uneng on November 29, 2020, 11:16:54 AM

I wouldn't advice anyone to take a loan to invest in crypto currency. It's like borrowing money to gamble.
Cypto profits may come in few days or years, it's unpredictable, but a loan starts with a timeline to be repaid. If the person isn't able to make his investment worth by the loan timeline it's game over, as the bank interest will start accumulating frighteningly. It's a very unresponsible decision to do so.

Well, yeah as much as I know the price will inflate in coming time, I hate loans even more specially when there is no proper logic behind it. I mean if you are taking loans because you have a good and no risk method to make more money with it, then go ahead and take one but if you are unsure about the outcome then it is indeed like gambling and taking loans.

Also one thing you need to understand is how much the interest is and how much the profit will be because at times you get overjoyed by a particular idea and take loans but later the profit is lower than the interest and it ends up being a bad investment.

Nhor1011

member

Activity: 994

Merit: 11

Daxetoken.net

Quote from: Polo7 on August 07, 2020, 08:09:26 PM

Its a best time for People to become rich.
Don't need skills just Invest in crypto stocks Gold and take Easy loans

I Think its a best time for People without skills or Much of Knowledge to become wealthy.
Tongue

When times are hard and no money in circlelation then its hard for People without any skills or education to prospel
Now its a time When a lot money will be Every Where and People like me without skills or education Can Finnally become rich and wealthy

Making loans to invest is a bad idea and if you want to invest you need enough knowledge about it so that you can research and study the project that you want to invest. Investing is not easy like what you think. You need to think and be careful because investing is full of risk. Be sure that you are really sure about the project you are going to invest. Even in crypto you need knowledge if you want to earn much bigger.

Topic: 2020-2021 best year if You Want to become rich no skills needed - page 2. (Read 1327 times)