Topic: [Q]To take a loan or not to (Read 265 times)
Thank you everyone, won't take loan
This is true, if he's going to tell the truth that he'll use the money for the investment he's about to get in to cryptocurrencies, they'll probably automatically decline it. They're okay to approve loans if it's about traditional businesses but maybe this will pass on for "personal" purpose.
But @OP, I'll not do this move.
I'll save money and that will be the one I'll use to invest. I've seen people that have ended up with a bad result by doing this idea. Despite being experienced and knowing about the market.
Did they use leverage? But @OP, I'll not do this move.
I'll save money and that will be the one I'll use to invest. I've seen people that have ended up with a bad result by doing this idea. Despite being experienced and knowing about the market.
Doesn't legal loan usually ask you about purpose about loan? I doubt it'll be approved if you say you want to invest on cryptocurrency.
This is true, if he's going to tell the truth that he'll use the money for the investment he's about to get in to cryptocurrencies, they'll probably automatically decline it. They're okay to approve loans if it's about traditional businesses but maybe this will pass on for "personal" purpose.But @OP, I'll not do this move.
I'll save money and that will be the one I'll use to invest. I've seen people that have ended up with a bad result by doing this idea. Despite being experienced and knowing about the market.
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years. Then I realize what happened to Luna and realize there is nothing surefire here.
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
High risk high rewards on some other things if you are lucky but can you able to handle the worst situation if your actions made failed? You might get broke for wrong decisions made so best to be more careful in situation like this we don't know if the coins we bought can stay long and we know what happen to Luna is so bad in crypto history so best to take only on your pocket what you can afford to lose because for sure you will be saved from massive head aches for that. So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years. Then I realize what happened to Luna and realize there is nothing surefire here.
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
You can take a loan actually but don't use it to invest in crypto but rather put it into the investment where you can assure good profit at the end of the month (or at least). So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
However, if both parties will agree with the term and conditions being presented, then that's up to you then. But I suggest for you OP not to just focus on investing crypto this time. With that borrowed amount, I highly recommend splitting it in order to minimize risk, and at least, if ever you lose there is something that could be able to save you.
lol, your whole tread was a joke and members just went with the flow. not really sure what's your goal here. if it is for the sake of trolling good luck to you, but if it is to try and ruin someone's reputation I think you'll fail with that.
to anyone who might be curious here the thread I am talking about 1,999.91$ Loan Urgent - Are Copper Member •DireWoIfM14• is extortionist?!
also, sorry if the post is off topic.
What kind of bad reputation are you talking about if it has already been damaged by him earlier? Please see another thread on bitcointalk that was created before me. Look it this to anyone who might be curious here the thread I am talking about 1,999.91$ Loan Urgent - Are Copper Member •DireWoIfM14• is extortionist?!
also, sorry if the post is off topic.
- https://bitcointalksearch.org/topic/copper-member-direwoifm14-is-scammer-5402709 
It is not necessary to take a loan from a bank, you can ask for it on bitcointalk. Since you have MERIT, you will be approved, but unfortunately not more than $1,000. I also spend all day looking for where to get a loan, but no one gives it to me because I have NO MERIT. Today they tried to deceive me and now they demand almost $2000 for a non-existent loan (creditor sent $1,000 to another address and says he is not at fault)
lol, your whole tread was a joke and members just went with the flow. not really sure what's your goal here. if it is for the sake of trolling good luck to you, but if it is to try and ruin someone's reputation I think you'll fail with that.to anyone who might be curious here the thread I am talking about 1,999.91$ Loan Urgent - Are Copper Member •DireWoIfM14• is extortionist?!
also, sorry if the post is off topic.
The thing is, Bitcoin doesn't even have to fail or not go up for you to be burned. Loans are taken out for a period of time. Usually, the longer they're taken out for the more fees associated with it. Interest rates will also go up in the future, and usually loan companies have their terms of service written in such a way that they can change the interest rate that you signed up for.
What I'm trying to say is, even if Bitcoin did go up to one million a coin, if it takes fifty years, you're probably still probably going to get burned because that loan had to be paid off within five years. I don't think gambling on whether or not Bitcoin is going to be successful in the long run is unlikely, and in my opinion is probably one of the more safe investments you can make, but to put a timescale on it, and then have the time pressures from the loan, that's just asking for trouble.
In short, nope don't do it.
What I'm trying to say is, even if Bitcoin did go up to one million a coin, if it takes fifty years, you're probably still probably going to get burned because that loan had to be paid off within five years. I don't think gambling on whether or not Bitcoin is going to be successful in the long run is unlikely, and in my opinion is probably one of the more safe investments you can make, but to put a timescale on it, and then have the time pressures from the loan, that's just asking for trouble.
In short, nope don't do it.
It is not necessary to take a loan from a bank, you can ask for it on bitcointalk. Since you have MERIT, you will be approved, but unfortunately not more than $1,000. I also spend all day looking for where to get a loan, but no one gives it to me because I have NO MERIT. Today they tried to deceive me and now they demand almost $2000 for a non-existent loan (creditor sent $1,000 to another address and says he is not at fault)
It sounds a great idea to invest into cryptos at a time like this that we're beginning to think we've hit the bottom and that market will rebound any moment from now. Judging from that, I don't think it's such a bad idea taking a loan to finance a credible crypto investment. However, you should make sure that you've something that can help you repay that loan in case your investment fails and you're distressed. Make sure not to take a loan that will be too huge for you to repay, even spread out on your signature earnings in case you don't have elsewhere you can get cash from. For those saying it's a risk, I hope we all know that life itself is a huge risk too and not taking risk they say is the biggest risk in life.
taking a loan to invest in something as volatile as cryptocurrency is never a good idea. sure, the reward might be high if the price went up from the time you bought the coins but If it didn't you are the one who is going to suffer. mk4 listed good points regarding the topic.
this reminds me of a thread where the original poster took a loan and invested it in a meme coin. as you guessed the price of the coin crashed and left him at a negative profit.
this reminds me of a thread where the original poster took a loan and invested it in a meme coin. as you guessed the price of the coin crashed and left him at a negative profit.
But, again, for as long as you're capable of paying it.
No one knows what the future holds. That's why it isn't recommended to do things like that. Sure it looks great now, great job, great wife, beautiful kids, new house. But in the future that all could turn into being laid off, divorce and paying alimony, and no house due to a fire, earthquake, or other disasters. If that wasn't bad enough, the bank is on your ass because your borrowed money to buy Bitcoin. That didn't work out, and you are having problems paying them back. 
I guess it depends on the amount of loan and your capacity to pay for it even if your investment doesn't give you a return in a year or two.
I know a lot of people who take advantage of loans because they're offered with low interest rates. Some are also taking loans just to increase their borrowing limit. And many of them take these loans just to buy luxurious stuff which are otherwise unnecessary like the latest iPhone. They go shopping. They travel. They go abroad and watch concerts and play in casinos. In other words, they are taking loans and squander them. So if people can do this, why can't you take a loan and invest? But, again, for as long as you're capable of paying it.
I know a lot of people who take advantage of loans because they're offered with low interest rates. Some are also taking loans just to increase their borrowing limit. And many of them take these loans just to buy luxurious stuff which are otherwise unnecessary like the latest iPhone. They go shopping. They travel. They go abroad and watch concerts and play in casinos. In other words, they are taking loans and squander them. So if people can do this, why can't you take a loan and invest? But, again, for as long as you're capable of paying it.
The answer to the question if you should take a loan to buy cryptocurrencies is a very simple one. NO, never!
The money is not yours, and you would be taking too much of a risk putting it into something as volatile as Bitcoin. If you have some savings or you would like to invest a part from your salary, that's OK. Would you take out a loan to play Blackjack? Would you do it to place a bet on a football match? I hope the answer to these questions is NO.
If you can't pay back on time, the bank will charge you more. Depending on how much you borrowed, they could seize your assets and possessions. Not paying back on time will destroy your credit rating, and if in the future you need a loan for a much more valid reason like the health of you and your family members, it will be harder for you to get one.
The money is not yours, and you would be taking too much of a risk putting it into something as volatile as Bitcoin. If you have some savings or you would like to invest a part from your salary, that's OK. Would you take out a loan to play Blackjack? Would you do it to place a bet on a football match? I hope the answer to these questions is NO.
If you can't pay back on time, the bank will charge you more. Depending on how much you borrowed, they could seize your assets and possessions. Not paying back on time will destroy your credit rating, and if in the future you need a loan for a much more valid reason like the health of you and your family members, it will be harder for you to get one.
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years.
You're here since 2017. I'm sure that you've read a good couple of times "don't invest what you don't afford to lose". And I'm sure you understand that loaned money is greatly in this category.
There are 2 problems I see here:
1. Nothing is guaranteed, even with the "proeminent currencies". What if your investments go down and never recover?
2. A very common situation is big price fluctuations. Maybe the coins you buy would end up very good, but first they can easily and fast go much lower than the price you bought at. Since it's borrowed money there's much better chance you freak out, sell at a loss, and the price recovers only afterwards. (With borrowed money you may be more vulnerable / you may get scared much easier by price drops.)
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years. Then I realize what happened to Luna and realize there is nothing surefire here.
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
I have been on forums for a long time and I can tell you that posts like yours when there is a market downturn are common, and they don't usually end well.
You can do well, just like going to the casino can do well, which does not mean that it is a good strategy to make money.
I think mk4 has got it right:
Taking loans for asset investments you mostly have no control of is kinda dumb.
1. Markets can drop far further than we think it can
2. It can take longer than expected to go back up
3. Especially when talking about crypto outside of bitcoin, you're taking so much risk that it's multiples of magnitudes dumber
If I were to take a loan, it would mostly be for something like a business that I've deeply thought of and strategically planned for already.
1. Markets can drop far further than we think it can
2. It can take longer than expected to go back up
3. Especially when talking about crypto outside of bitcoin, you're taking so much risk that it's multiples of magnitudes dumber
If I were to take a loan, it would mostly be for something like a business that I've deeply thought of and strategically planned for already.
Taking loan should be better for doing business that can guarantee you return and in a way you will be able to pay back the laon. Some people, even rich people do take loan for businesses, that is normal, but taking loan to invest in cryptocurrencies is very risky, it is not advisable in any way. I better just remain not investing on cryptocurrencies than taking a loan for it.
In this period, we have not known yet what could be the bottom price, I mean if the price of cryptocurrencies will continue to fall further or not. It is good to be patient, use your own money to invest, if you do not have money to invest, then better not take a loan because crypto market is so risky. Also, donalwqys consider altcoins very risky, like gambling.
In this period, we have not known yet what could be the bottom price, I mean if the price of cryptocurrencies will continue to fall further or not. It is good to be patient, use your own money to invest, if you do not have money to invest, then better not take a loan because crypto market is so risky. Also, donalwqys consider altcoins very risky, like gambling.
If i were going to loan, i'll definitely put it in a small business. Though, you can also invest in crypto but it should be you in your control so that when the market is unstable or in a downtrend the loss is minimal. The choice between investing in small businesses or crypto comes down to your own financial goals, desired portfolio, and risk tolerance. Small businesses can be more exciting and may provide a chance to support your daily needs. Each has its risks, and the best scenario is to invest in a variety of opportunities.
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
Yes it is. Could it really be a free actually when you can pulled of a good use of that loan.These whales are taking advantage of those loan in a sense they are just using those loan to profit at an expense of free money. How? By their corrective measure of applying of defi or trading. I kinda bit amaze on how these people do it easily and taking those risk as piece of cake task.
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years. Then I realize what happened to Luna and realize there is nothing surefire here.
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
Wait till you get punish for not taking risk, what are you waiting for? I believe this is the season to start taking those risky investment for long term because this is when millionaires are born, the only advice I can give you is invest only what you can afford to lose, take loan that you can pay back easily no matter what happens.
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