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, 07:56:29 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

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Quote from: GreekBitcoin on September 24, 2014, 09:10:49 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

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getmonero.org

Obviously dont. Invest only what you can lose.

Kimowa

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

mmitech

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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

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Let's talk governance, lipstick, and pigs.

Quote from: Wilhelm on September 23, 2014, 11:44:43 AM

Quote from: Timetwister on September 23, 2014, 08:41:18 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

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Quote from: Timetwister on September 23, 2014, 08:41:18 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

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Quote from: Timetwister on September 23, 2014, 08:41:18 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

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Quote from: Nrcewker on September 22, 2014, 10:48:43 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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Quote from: exocytosis on September 22, 2014, 06:05:58 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

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Let's talk governance, lipstick, and pigs.

Quote from: mb300sd on September 22, 2014, 04:36:56 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

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Quote from: blatchcorn on September 22, 2014, 07:40:12 AM

I cannot resist these cheap coins Embarrassed

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

nuff

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

Nrcewker

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DGbet.fun - Crypto Sportsbook

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

KJO

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It depends whether or not there is a security interest.

Wilhelm

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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

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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

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

btcapparel

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no, dont do it

600watt

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Quote from: Chuckee on September 22, 2014, 05:12:23 PM

What could possibility go wrong?

a worst case scenario would be this:

price could rise before loan is granted.

Cheesy

Chuckee

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What could possibility go wrong?

yokosan

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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.

600watt

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i feel also tempted. sell the gold or not...

Dilla

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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)

romneymoney

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HODL

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.

mb300sd

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Drunk Posts

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

guy_wonderful

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Working 24 hours a day isn't enough anymore.

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.

JimboToronto

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