Topic: Bitcoin Investment: Good Debts vs Bad Debts - page 3. (Read 1537 times)

Bitcoin investment can be both good and bad debts, depending on how it is managed. Investing in bitcoin can be a good debt if it is done responsibly and with a long term perspective. Bitcoin has shown to have a high potential growth, and investing in it can be a way to diversify ones portfolio and potentially earn a good return on investment. Bitcoin investment can be a bad debt if it is done impulsively or without proper knowledge. Bitcoin is a highly volatile asset and its value can fluctuate rapidly. Investing too much or without a clear understanding of the market can lead to significant losses and financial trouble. Investing with borrowed money to invest in bitcoin can be risky and increase the likelihood of accumulating bad debt.

Borrowing is not all bad, but it should be avoided and kept to a minimum because borrowing can sometimes lead to worse crises. As for borrowing money to invest in bitcoin, I don't think it's a wise idea even if you have a perfect plan because you're also not sure things will turn out the way you want them to. Borrowing money to invest in bitcoin should only be considered when you have one or more other sources of income, and you can still repay those loans regardless of the outcome of the investment.

I don't agree that debt is not good because it depends on the reason why we have to do it. Like the title says there are good and bad debts. If you're a wise person and would like to use the money to gain that would be better. As i've said before you need to have a back up plan just incase, so you're still able to pay your debt even you didn't gain from the investment where you spend the borrowed money. On the other side, asking for loan for your wants are the bad debts, but some people are not thinking if it's really worth it to take a loan just for this.

Well, probably even once in our lives we're also in a situation that we have to take a loan for a certain reason even we don't want to. But as long as you're not going to runaway and able to pay on time then it's fine. Just be responsible otherwise don't take a loan.

Some people may have a mature investment strategy, sufficient knowledge about Bitcoin, and be able to manage risks well. For them, borrowing money to invest in Bitcoin may be considered good debt if they plan carefully, weigh risks wisely, and have a sound financial management plan in place.

Before making the decision to borrow money to invest in Bitcoin, it is advisable to consult a financial expert or investment advisor who can provide advice that suits your financial situation and investment goals.

Debt is good if you use it right. Just imagine you really needed money for medical or hospitalization expenses and your money was not enough. How would you solve it? Either you ask for money for free or you just borrow money and pay it back as soon as possible, so still, it is a good debt as the purpose of it is for good, but again, no one in the world wants debt; they just don't have a choice as they don't have money, but if they have enough money for sure, they don't want to get into debt.

but whatever it is, if it's debt then we have to pay it at the right time. the problem is if we use debt to invest, will it be able to return on investment while we ourselves know we have to pay it at the right time plus the interest that has been agreed upon. well I think debt is not good, someone owes is due to a sudden need that is sure one day it will be able to return it.

yeah why not. ofcourse this is very high risk, but many people did it because Short term debt is cheaper than long term debt.
so It's high risk but it's very fast to get some money to pay our bill

While those who are strong in mathematics in terms of reading the future opportunities in terms of investing may choose to sell their assets, such as houses or cars, to invest in Bitcoin, however, this decision should be made after evaluating one's financial situation, tolerances, and long-term goals. accurately. About Predictions of future gains I think No investment is guaranteed to generate significant returns despite Predictions of future returns or the impact of events such as "halving days"

Your advice is crazy, it's even a thousand times worse than what OP is referring to. I wonder did you do that? Have you sold your house or sold your car to buy bitcoin? Why are you giving such stupid advice to people? I bet you don't know anything about bitcoin and what you're talking about. If newbies read your advice, it will be bad if they follow it.

Investment promises big profits, and in my opinion now is the right time to buy immediately, many people are afraid to invest in bitcoins because they don't have money, they can sell assets such as houses or cars to buy bitcoins, if we are patient and don't panic then we have a chance to get big profit ahead of halving day.

This topic has been worn down countless times, although it is a very welcome one as it talks about the difference between what poor people use debts for vs what the rich people would use their debts out of.

Simply put, if you've read Rich Dad Poor Dad by Robert Kiyosaki, you'd be well informed that poor people go on debt for liabilities, while rich people go on debt for assets. Poor people take loans and buys stuff that would make them look rich, cars, better house, phones, the latest gadgets and clothes, all that stuff. And when the rainy day comes, they don't have money left for themselves, they're forced to either take out another loan or sell these purchased items which have already diminished in value, and then the cycle continues.

Rich People on the other hand, buys stuff that would make them really rich. properties, commodities, stocks, bonds, anything that appreciates in value, a Rich man would buy it. Now, the magic happens when they take out a loan, as they are essentially making the bank pay for their capital, to make them profit. They take out these massive loans not to buy the latest gadgets and all that, but to buy multiple points of profit that they will then use to pay off the debts they owe the bank, and then from there they basically start smooth sailing.

Investment and business are not much different, both may succeed or fail, so it is impossible to call borrowing money to do business a good debt, and borrowing money to invest is bad debt. When you start a business, even if you have a good idea, a perfect plan… there is no guarantee that everything will go according to plan. If business were as easy as you think, many people would not accept being employees, and everyone would become entrepreneurs instead.

If you have a job with a good salary, I would advocate taking a loan to invest because even if that investment fails, you can easily pay back the loan. Saving money to invest is not bad, but opportunities will not wait for you, so if you have a good income and opportunities are in front of you, borrowing money to invest is not too scary.

Futures trading is more risky than what OP suggested and I would never recommend anyone to go with futures trading.

Don't take a loan unless you have that money in bank account that's how the rich people utilise the loan to make more money. For example a million dollar worth of real estate property can generate 10 ir 20K monthly in revenue and the millionaire already have that money in their bank account but they won't pay it whole and buy, they will take a loan to buy that property and will pay the mortgage from the revenue coming from property so in few years the assets will be their own but they bought without anything.

You are right that taking loan for buying something that permit you something useful in return is a sagacious way but taking loan and enter into the risky root will not increase your credit but instead it will become an origin of your stress so you will need an excessive amount that you will have to return to the owner. I don't say that due to fear of lossing leave the way of success but I want to say that if you don't know about bitcoin and don't have any experience about it then take steps towards it by using your own money may be little or more and once you learn well then getting loan will not be a big deal as you will be fully prepared how to multiply money and how to invest suitably under right duration.

I think good debt is for business capital. For a business that we do, not for investment anywhere, including in bitcoin.

Investments are a different area, their returns are uncertain, and tend not to be much, unless you keep the investment for a long time. Meanwhile, you always have to pay the debt every month. Make sure that you get income every month from your debt. That's a good debt

If you have a job with a good salary, and you want to invest then debt is not a good way. You simply pool the money and invest it.

It's crazy that you're against the idea of borrowing money to invest but offering advice on futures trading.  neither of these options is recommended as the risks are equally, even I would consider trading futures riskier than borrowing money to invest in bitcoin. borrowing money is already bad debt, never called good debt.  But getting a loan isn't so bad if you have a good plan, some outside source of income, and you can still repay that loan even if your investment is at risk.

borrowing money? i don't think i recommend this.
instead you borrow money for xxx days the good way is you should play futures trading which you can buy or sell more bitcoin/altcoin without having them 100%.
And you can take 10x to 100x from your margin

When it comes to borrowing money to invest in Bitcoin, there are a few things to keep in mind.

On the positive side, Bitcoin has a history of shooting up in value, and lots of people believe in its long-term potential. If you borrow money and invest it in Bitcoin, and things go well, it could be seen as a good debt. You could make some sweet returns and grow your wealth.

But here's the thing—Bitcoin can be a wild ride. It's known for its crazy volatility, which can happen pretty fast. So if you borrow money and invest it in Bitcoin, and things take a nosedive, that could be bad debt. You might find yourself in a tough spot, struggling to pay back what you owe.

Before taking the leap, you have to consider your risk tolerance, financial situation, and how much you know about investing in general. Take a look at the interest rates on the borrowed money, how much you're borrowing, and whether you can handle any potential losses.

Remember, it's always smart to avoid borrowing money that you absolutely can't afford to lose. Investments, including Bitcoin, come with risks, my friend. So think it through, maybe chat with a financial pro, and make a decision that fits your situation.

Investing in Bitcoin has the potential to generate high returns, but it is a volatile asset and its value can fluctuate rapidly. I think Yes, borrowing money to invest in Bitcoin is a risky move, and whether debt is good or bad depends on a variety of factors.  On the other hand we are required to be smart here. For example, if you want to become an investor, you must be financially savvy, that is, have a solid investment plan, and be able to repay loans. Therefore, it can be considered default or in other words as bad debt if the investors are not financially stable or if they are unable to repay the loan in the event of a loss.

Whether it's good debt or a bad debt, we should always be conscious when we are borrowing money from people. There are some funds we might borrow and we may not be able to pay back because of the addictive spirit that is behind the love for borrow. It is always important for us to try our possible best to invest for the broken time. Those who always invest will never lack so we need to try our possible best when we have surplus so we can utilize it in different investments that will give us a returns. The poor that do have sense or know how to go about there ways would never borrow money to spend on liability.