Shall I take out a high interest rate loan to buy more Bitcoin?

blade87

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Quote from: mmitech on September 24, 2014, 08:56:29 AM

and the guys who are telling you to do so will be selling you "cheap" coins that they bought between $1-100 ... I a sure they will regret it later when the price is 1 million a coin.

And the guys who will sell at 1 million a coin will regret it when it goes to 100 million per coin!

yayayo

legendary

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Quote from: GreekBitcoin on September 24, 2014, 10:10:49 AM

Obviously dont. Invest only what you can afford lose.

FTFY

Right.

I would advise more strongly here: Never take loans for speculative purposes! Bitcoin is a speculative investment. There is zero guarantee that it will develop the way you hope it will. Bitcoin is a great innovation and we all hope the best for it. But with great innovation also comes great uncertainty. Reality can be harsh.

If you want to buy more Bitcoin, try to earn extra income. Alternatively sell stuff you don't need for Bitcoin.

Personally, I value freedom more than wealth. And I would not feel free to the same degree with a heavy loan on my back.

ya.ya.yo!

GreekBitcoin

legendary

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getmonero.org

Obviously dont. Invest only what you can lose.

Kimowa

sr. member

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Its risky but do it, the chances of going up is really high..

mmitech

legendary

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things you own end up owning you

Sell your house, your car, your wife and your kids and if you can also take a loan, and send all the money to an exchange to buy Bitcoin, because lets face it, Bitcoin is more important and has a guaranteed growth... and you are going to miss the opportunity of your life if you don't do that.

and the guys who are telling you to do so will be selling you "cheap" coins that they bought between $1-100 ... I a sure they will regret it later when the price is 1 million a coin.

cbeast

donator

Activity: 1736

Merit: 1006

Let's talk governance, lipstick, and pigs.

Quote from: Wilhelm on September 23, 2014, 12:44:43 PM

Quote from: Timetwister on September 23, 2014, 09:41:18 AM

What happens if you can't pay it? How much do you have to pay in interest rates? I'd never do that, but in some very rare cases, it may make sense.

Just take on another loan to fill the hole.
This way you essentially create infinite moneyz!!!

Now you are thinking like a central bank.

Wilhelm

legendary

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Quote from: Timetwister on September 23, 2014, 09:41:18 AM

What happens if you can't pay it? How much do you have to pay in interest rates? I'd never do that, but in some very rare cases, it may make sense.

Just take on another loan to fill the hole.
This way you essentially create infinite moneyz!!!

scv00

newbie

Activity: 56

Merit: 0

Quote from: Timetwister on September 23, 2014, 09:41:18 AM

What happens if you can't pay it? How much do you have to pay in interest rates? I'd never do that, but in some very rare cases, it may make sense.

You would lose money paying off the interest if bitcoin stagnates at it's current price for months.

realbtcdealers4real

newbie

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Quote from: Nrcewker on September 22, 2014, 11:48:43 PM

Now the Bitcoin prices should have been to the bottom, Buy more, Earn more

How do you know we are the bottom tho? OP is taking a massive risk, but whatever floats your boat.

Timetwister

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What happens if you can't pay it? How much do you have to pay in interest rates? I'd never do that, but in some very rare cases, it may make sense.

Wandererfromthenorth

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Activity: 742

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Quote from: exocytosis on September 22, 2014, 07:05:58 PM

Yes, and you should also sell your children to a child slavery ring. And sell your kidneys, heart, brain and other organs to a back alley surgeon.
Can't get enough of these cheap bitcoins. To da moon! 10k before tomorrow.

lol

cbeast

donator

Activity: 1736

Merit: 1006

Let's talk governance, lipstick, and pigs.

Quote from: mb300sd on September 22, 2014, 05:36:56 PM

Some guy took out a student loan to buy BTC right before the $1000 run up.

It was a wiser investment than engineering school. Wink

I sold my house and am waiting for the bottom final capitulation to invest the proceeds.

BTCmaster3

newbie

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Quote from: blatchcorn on September 22, 2014, 08:40:12 AM

I cannot resist these cheap coins Embarrassed

How high is the interest? And yes I will do that too..

nuff

sr. member

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The keyword here is BUY. Do whatever you need to, but just buy, and hold

Nrcewker

copper member

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Building my own Dreams!

Now the Bitcoin prices should have been to the bottom, Buy more, Earn more

KJO

full member

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It depends whether or not there is a security interest.

Wilhelm

legendary

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Great idea you will have years and years of pleasure from it.
Why not throw in a kidney or a lung, they are redundant organs. You can buy them back once you're rich!!!

It's a win win !!! Cheesy

exocytosis

sr. member

Activity: 476

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Yes, and you should also sell your children to a child slavery ring. And sell your kidneys, heart, brain and other organs to a back alley surgeon.
Can't get enough of these cheap bitcoins. To da moon! 10k before tomorrow.

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

That would be irresponsible to a magnitude never seen on this earth.

btcapparel

sr. member

Activity: 568

Merit: 255

no, dont do it

Topic: Shall I take out a high interest rate loan to buy more Bitcoin? (Read 3069 times)