Topic: Take loan from bank, pay back with bitcoin (Read 1632 times)
Or just sell dope on silkroad en then scam everyone for a shitload of bitcoins?
It will work but if Bitcoin crashed instead, people ganna default the loans....
wrong. bitcoin always rises from the ashes and you are not possibly that stupid to take a loan for short term. With bitcoin long term is your friend. For unexpected crashes you will need to have the plan B (maybe read my hypothesis again).
By your logic you can take 50.000$ loan, buy 100 Bitcoins and you can make 500.000$ in a shot amount of time? Do you really think bitcoin will be worth 5000$ and if you think why don't you risk it and buy? Don't go to bank, talk to family members, sell house, car get 100.000$ and invest if you are sure that scenario is possible...
Banks don't gamble, and trading in Bitcoins atm is a huge gamble.
For a bank it is much better to give loans with annual interest of 12% or more.
For a bank it is much better to give loans with annual interest of 12% or more.
It will work but if Bitcoin crashed instead, people ganna default the loans....
wrong. bitcoin always rises from the ashes and you are not possibly that stupid to take a loan for short term. With bitcoin long term is your friend. For unexpected crashes you will need to have the plan B (maybe read my hypothesis again).
So let's assume I have a decent amount of bitcoins and I need to buy some real estate with my bitcoin earnings. Although I could cash out immediately and buy the house in one go it wouldn't be smart because I believe that bitcoin will rise 10x reasonably soon. Thus, I would take normal loan from bank so I only need to pay a fraction of the whole sum each month. By doing this I get to keep most of my bitcoins and get the real estate, win win? To ease the risks I would make things so that in case BTC becomes irrelevant I would still be able to pay back the loan but would have to work for it (plan B).
This seems like a cool idea and I wonder when the regular Joes start doing it.
1. See that BTC increases 1000% per year
2. have balls of testosterone quenched steel
3. take loan from bank to immediately buy real estate and/or bitcoins
4. gradually pay back the loan over the period of 10 years or something
Now if everyone starts doing it then banks will print more fiat as they are happy to give out loans but this time it will be different. Value gets slowly transferred from fiat to cryptocurrencies. So in a way it's free money from banks. If they loan fiat to you they will contribute to their own demise.
The question is - is this a realistic future scenario? Some of my friends have seriously considered taking loan already to buy bitcoins. When we get enough success cases of doing so then this strategy will go viral and shit will hit the fan.
This seems like a cool idea and I wonder when the regular Joes start doing it.
1. See that BTC increases 1000% per year
2. have balls of testosterone quenched steel
3. take loan from bank to immediately buy real estate and/or bitcoins
4. gradually pay back the loan over the period of 10 years or something
Now if everyone starts doing it then banks will print more fiat as they are happy to give out loans but this time it will be different. Value gets slowly transferred from fiat to cryptocurrencies. So in a way it's free money from banks. If they loan fiat to you they will contribute to their own demise.
The question is - is this a realistic future scenario? Some of my friends have seriously considered taking loan already to buy bitcoins. When we get enough success cases of doing so then this strategy will go viral and shit will hit the fan.
It will work but if Bitcoin crashed instead, people ganna default the loans....
This is often a reliable sign of impending crash when people start taking on debt to get rick quick.
Only if you stay within the same system!
Now you make a hedge against the dollar! so this is ok espacialy if you are desparate it can be the lesser evil!
regulating bitcoin can not be done ...
http://www.youtube.com/watch?v=tR4e8zwnR6w
http://www.businessinsider.com/bitcoin-over-490-2013-11
This is often a reliable sign of impending crash when people start taking on debt to get rick quick.
Crash of what? I'd say it's the crash of fiat. In short term it can lead to crash of bitcoin against fiat but in long term it pays off. Let's say I was so stupid that I bought in just before last crash in spring with loan money. By now I'd be already in cool profits and it has not been even a year. The loan would be obviously taken for several years. So I wouldn't give a fuck about short-term fluctuations.
This is often a reliable sign of impending crash when people start taking on debt to get rick quick.
Good idea, but no bank will do that unless you are the CEO of it ...
So let's assume I have a decent amount of bitcoins and I need to buy some real estate with my bitcoin earnings. Although I could cash out immediately and buy the house in one go it wouldn't be smart because I believe that bitcoin will rise 10x reasonably soon. Thus, I would take normal loan from bank so I only need to pay a fraction of the whole sum each month. By doing this I get to keep most of my bitcoins and get the real estate, win win? To ease the risks I would make things so that in case BTC becomes irrelevant I would still be able to pay back the loan but would have to work for it (plan B).
This seems like a cool idea and I wonder when the regular Joes start doing it.
1. See that BTC increases 1000% per year
2. have balls of testosterone quenched steel
3. take loan from bank to immediately buy real estate and/or bitcoins
4. gradually pay back the loan over the period of 10 years or something
Now if everyone starts doing it then banks will print more fiat as they are happy to give out loans but this time it will be different. Value gets slowly transferred from fiat to cryptocurrencies. So in a way it's free money from banks. If they loan fiat to you they will contribute to their own demise.
The question is - is this a realistic future scenario? Some of my friends have seriously considered taking loan already to buy bitcoins. When we get enough success cases of doing so then this strategy will go viral and shit will hit the fan.
This seems like a cool idea and I wonder when the regular Joes start doing it.
1. See that BTC increases 1000% per year
2. have balls of testosterone quenched steel
3. take loan from bank to immediately buy real estate and/or bitcoins
4. gradually pay back the loan over the period of 10 years or something
Now if everyone starts doing it then banks will print more fiat as they are happy to give out loans but this time it will be different. Value gets slowly transferred from fiat to cryptocurrencies. So in a way it's free money from banks. If they loan fiat to you they will contribute to their own demise.
The question is - is this a realistic future scenario? Some of my friends have seriously considered taking loan already to buy bitcoins. When we get enough success cases of doing so then this strategy will go viral and shit will hit the fan.
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