What could possibility go wrong?
a worst case scenario would be this:
price could rise before loan is granted.
Topic: Shall I take out a high interest rate loan to buy more Bitcoin? - page 2. (Read 3072 times)
September 22, 2014, 06:17:09 PM
a worst case scenario would be this:
price could rise before loan is granted.
September 22, 2014, 06:12:23 PM
What could possibility go wrong?
September 22, 2014, 06:12:14 PM
For those in the UK why not try https://www.quickquid.co.uk/
Only 1999% APR Representative. Bitcoin already rose 4000%, it only has to do that once more and you will double your money!
If everybody uses this exemplary service we will push the price up together and ride unicorns into the sunset.
Only 1999% APR Representative. Bitcoin already rose 4000%, it only has to do that once more and you will double your money!
If everybody uses this exemplary service we will push the price up together and ride unicorns into the sunset.
September 22, 2014, 06:11:05 PM
i feel also tempted. sell the gold or not...
September 22, 2014, 05:39:36 PM
Extremely risky. Bitcoin is already high risk/high reward. Why bet with money that isn't yours, on high interest on top of that? I think the only time I would was on a FOR SURE upswing rally, even then I would rather dip into my savings and pay that back over a high interest loan. Not this sideways downwards staircase we have been on for months.
"MAH! I NEED MORE MONEY FOR BITCOINS!" (May work too)
"MAH! I NEED MORE MONEY FOR BITCOINS!" (May work too)
September 22, 2014, 05:39:11 PM
You could buy BTC and sell it back to make each payment. If it goes up, you can repay it easily and have some leftover, if it stays flat, you lose the interest, if it goes down, you need to figure out how to make the last payments.
September 22, 2014, 05:36:56 PM
Some guy took out a student loan to buy BTC right before the $1000 run up.
September 22, 2014, 05:34:21 PM
OP remembers me long time ago. I once took a high interest loan of $5000 ,
Lost it all in 2 days on FX markets, after got $10k in total.
The good point of the history is that loan was taken but not by my face.
FAIL or win?
Something I learned:
If you risk money with isn't yurs. Like loan one. Very hard (almost impossible) to make "right decision", because Hard earned money and fast money have very different feelings. If you invest hard earned money every movement of investing will be deliberate and precise, which is most important in investing. From that rule investing becomes a real job and profits becomes hard earned money.
Lost it all in 2 days on FX markets, after got $10k in total.
The good point of the history is that loan was taken but not by my face.
FAIL or win?
Something I learned:
If you risk money with isn't yurs. Like loan one. Very hard (almost impossible) to make "right decision", because Hard earned money and fast money have very different feelings. If you invest hard earned money every movement of investing will be deliberate and precise, which is most important in investing. From that rule investing becomes a real job and profits becomes hard earned money.
September 22, 2014, 05:33:03 PM
Shall I take out a high interest rate loan to buy more Bitcoin?
Only if you're borrowing from your own other investments.
That's what I'm doing to buy during these times of falling prices, re-allocating my own capital.
September 22, 2014, 05:29:34 PM
I would not risk taking anything from a company called kneecap finance or similar loan sharks.
September 22, 2014, 05:21:51 PM
Do you have the ability to pay it back if things don't go your way? Or if things take years to go your way?
Make sure you can stay solvent for longer than the market can stay irrational.
Make sure you can stay solvent for longer than the market can stay irrational.
September 22, 2014, 05:13:37 PM
Yes, but only if the interest is high.
September 22, 2014, 08:43:02 AM
100% yes. You wont regret it.
September 22, 2014, 08:40:12 AM
I cannot resist these cheap coins 
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