There doesn't seem to be any numbers cited. They do say they're not isolated cases anymore, but I'm willing to bet people who actually do these kinds of stuff are very few in number. Fact of the matter is, investing in cryptocurrencies is still high risk, and you would need to have a few pieces in your head loose if you want to risk getting jailed just to hit it big.
Still, to each his own I guess. I wouldn't even consider taking out credit to buy dips, but that's just who I am as an investor. Risk big win big, as they say.
Topic: Americans Are Taking Out Mortgages to Buy Bitcoin - page 2. (Read 370 times)
Well, its too risky now, but seems tempting too .. thats bitcoin for you
Smart people say: do not invest in crypto what you're not prepared to lose. In this case you can lose a lot and if things go in the upredicted ways, you can remain homeless and on the street. So i would say, no - this is not something you should do. You can however invest smaller amount and you will still benefit from the potential growth while still retaining relative safety.
yes, I agree with you. if in doubt and fear of losing precious possessions, you should invest only a few bitcoins, and that will not make it poor.
This is a very very bad idea. But, can you really blame them? It looks like a gold mine, ayeeeee.
Smart people say: do not invest in crypto what you're not prepared to lose. In this case you can lose a lot and if things go in the upredicted ways, you can remain homeless and on the street. So i would say, no - this is not something you should do. You can however invest smaller amount and you will still benefit from the potential growth while still retaining relative safety.
IMO They should ve done it about 6-8 months before this big rally towards 17k. I am seeing even 20k possibility before 2017 ends.
Always too risky to pledge your home and invest in something as volatile as BTC, but then who is to say?
Always too risky to pledge your home and invest in something as volatile as BTC, but then who is to say?
People are taking out mortgages to buy bitcoin, says securities regulator Joseph Borg. Coupled with accounts of credit cards and equity loans being used to obtain bitcoin, it raises the possibility of risk-taking investors being left deeply indebted or potentially even homeless..
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
And not only taking mortgages, there are also people who quit their jobs over the illusion they can make more money investing.
I am far away from strong statements that you cannot do that, but at least you must know what you do, invest the money you can afford to lose and clearly it is NOT the case if you put your house on stake...
People are taking out mortgages to buy bitcoin, says securities regulator Joseph Borg. Coupled with accounts of credit cards and equity loans being used to obtain bitcoin, it raises the possibility of risk-taking investors being left deeply indebted or potentially even homeless.
Let's not go overboard--homeless? If we're talking about mortgages, credit cards and equity loans, we're mostly talking about middle class and upper class folks with good incomes and property. They're not going to be homeless if the market takes a dive.
I saw that statement earlier and I was curious, what's his source for this? Is it just a guess based on an uptick in home equity lines of credit and second mortgages? I can't imagine people are telling their bankers that they are using the proceeds to buy bitcoins!
Do you think people should be taking out credit to buy bitcoin?.
As a matter of principle, no, it's generally a bad idea to take out credit to invest in anything. That said, there's something wonderful about the idea of people racking up credit with the banks (with worthless fiat) to buy precious bitcoins. Poetic justice, if bitcoin does what I think it's going to do...
I wouldn't do that now.
But if someone did that this summer, they would have made a ton of money by now, possibly enough to retire.
It's always risk vs. reward.
But if someone did that this summer, they would have made a ton of money by now, possibly enough to retire.
It's always risk vs. reward.
After those news in the internet lately, more will likely to follow.
These guys should stop their business increasing the hype, instead they should provide a warning and general idea of "smart investments" while providing the best assets of bitcoin/digital currencies. At least a link to the forum is good enough. People doesn't have the same point of views, knowledge and intelligence, most of the unwary will be the victims of these "news".
Coins/Coinbase did a good job sending emails to their users since they are the most "hype-susceptible".
You think just Americans? Some people here in PH are "investing" by selling their items in order to hoard a lot of BTC.
These guys should stop their business increasing the hype, instead they should provide a warning and general idea of "smart investments" while providing the best assets of bitcoin/digital currencies. At least a link to the forum is good enough. People doesn't have the same point of views, knowledge and intelligence, most of the unwary will be the victims of these "news".
Coins/Coinbase did a good job sending emails to their users since they are the most "hype-susceptible".
You think just Americans? Some people here in PH are "investing" by selling their items in order to hoard a lot of BTC.
People are taking out mortgages to buy bitcoin, says securities regulator Joseph Borg. Coupled with accounts of credit cards and equity loans being used to obtain bitcoin, it raises the possibility of risk-taking investors being left deeply indebted or potentially even homeless..
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
That is just insane way to do. If you really want to invest, just put the things that you are not willing to cry on if you lose.
I would not advise anyone to take a loan from a bank on the security of their property and buy at the expense of this loan bitcoyne. This is very risky. The behavior of bitcoins is difficult to predict and therefore one can get into a difficult financial situation in the event that bitcoins cease to grow in price for a long time. Americans in this case, of course, can profit from this, but this is rather risky.
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People are taking out mortgages to buy bitcoin, says securities regulator Joseph Borg. Coupled with accounts of credit cards and equity loans being used to obtain bitcoin, it raises the possibility of risk-taking investors being left deeply indebted or potentially even homeless..
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
Next time quote your source: https://www.cnbc.com/2017/12/11/people-are-taking-out-mortgages-to-buy-bitcoin-says-joseph-borg.html
Otherwise you can end up in trouble.
I think you must be a complete idiot to do that. You may have luck and end up profiting a lot, but it is too risky as market can fall down at any point and stay there for long.
People are taking out mortgages to buy bitcoin, says securities regulator Joseph Borg. Coupled with accounts of credit cards and equity loans being used to obtain bitcoin, it raises the possibility of risk-taking investors being left deeply indebted or potentially even homeless..
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face. Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments..
So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss..
It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin. Do you think people should be taking out credit to buy bitcoin?.
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