Topic: I am about to do something massivley stupid - page 11. (Read 24167 times)

It is not my family dog. It is one of the puppies out of the recent litter.
The family dog is the white stud who will probably be fixed (and retired) after this year, but will not be going anywhere.

People are taking out loans to buy cars! Clearly the top of the auto market is just around the corner....

But seriously, don't take out a loan for anything if you can avoid it.

GO balls deep! Im turning everything i own into btc.. 

Just seen someone was trading their family dog for btc lol

Do it!  If they have no problems with keeping you in debt with crazy ass loans, you shouldn't have any problem beating it  Just don't get into any legal trouble...

OP isn't that fraud?  Taking a personal loan or using a credit card is one thing but how exactly are you planning on getting a student loan for "not being a student".  Also buying an investment on credit because it can't go down is a good way to royally screw up your finances.

Also if you are in the US understand the COMPLETE stupidity of what you are doing.  Student loans are the ONLY form of debt that you can never get away from.  No statutes of limitation, no credit reporting length, no ability to discharge in bankruptcy.  Car loan, mortgage, home equity loan, signature loan, business loan you get (with different levels of difficulty) get away from them but not student loans.   They are for life and the banks will use the collection arm of the IRS to seize every tax return from now till the day you die in order to satisfy your debt.

this massively stupid, dont do it!

Its posts like these that show the top of the market cant be far away.

Hello fellow bitcoin users.

I have been watching bitcoin over the past 2 years, I 'bought in' about 6 months ago. Over the months I have watched bitcoin developments and feel strongly about bitcoins future. Barring some massive hole found in the code, or something disastrous happening worldwide which might make people feel that bitcoin is terribly insecure, I feel that bitcoin's rise is inevitable.

Now comes the stupid part. I am thinking about taking on a $10k-$15k student loan to purchase bitcoins.

No, I don't need you to tell me why this is a retarded idea or why this is massively risky. I understand the risks quite well and I think I have lost my marbles. I have determined that I would rather pay off this loan than miss this investment opportunity. I know that if this fails I will kick myself forever, but I am young (26) and I can recover.

I was wondering if anyone knew of any loan services which might be good for this purpose, or things I should know about making such a large purchase. Please keep the doom and gloom to yourself, I know this is stupid but I have made my decision. I need ideas and help.

I plan to be holding for at least 5-10 years, and I would be willing to part with about 50 of my coins for $15k to pay off my loan and break even (a.k.a. a price of ~$300 a coin). I will be holding my breath until then. I plan on doing this in such a way that I do no incur Forex taxes on my 'cash out'. And I would probably end up having someone pay off my loan for the trade of coins below market rate. I would probably end up paying for everything I need in bitcoins as I see no reason to exchange my money back out and let 'the man' take a cut of my profit. This is my super scary gamble and I want to keep my reward if I get it.

Thank you very much for any positive input. And I hope you have a great day.

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