Debt is debt, you have to pay up anyway.
I don't care what you plan to use the money for, just pay back what you lend and you will be free, stupid people take loans and spent it on stupid things while the rich and smart people takes loan and use it for a greater course that could benefit them in future.
Still, even if you use loan money to invest in good business there is still a risk, the business might fail and been in good debt or bad debt will be meaningless, because a debt is still a debt.
Topic: Bitcoin Investment: Good Debts vs Bad Debts - page 12. (Read 1537 times)
There are bad debts and there are good debts. Bad debts- loaning money to buy a car that won't be used for business ( Uber, Bolt). Loaning money to buy a pair of shoes, clothes, a piece of furniture etc.
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
One of the popular pieces of advice you'd hear in the Bitcoin space is to never borrow to invest in it.
Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
One of the popular pieces of advice you'd hear in the Bitcoin space is to never borrow to invest in it.
Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
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