Taking loan for investment can be life threatening - page 2.

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Quote from: martyns on April 13, 2023, 06:04:01 PM

Quote from: MFahad on April 11, 2023, 02:40:23 PM

Investment is good idea but selection of coins should make wisely and I think that taking loan for investment is not good idea because if you have taken loan and unlikely you choose such coin which have not future at Al then you will loss that money which you have taken from others. So in this case you will be in dual problems first is loss and second is to return that money to the others person from which you have taken it. If a person has no other option to increase wealth then he can put money into bitcoin because there is no doubt that it will enhance your money so one can easily return loan.

You are right.This topic is really interesting because I believe so many person's have fallen victim of the kind of situation before,when they take loan for investmest sake,and at the end of the day,they have problem with the person they got the money from.
To me,I really see it as something totally bad because investment alone is a big risk,and risk is supposed to be taken with your own personal money,and not someone else's money.
Anybody who values friendship and relationship won't try it, especially when the investmest would not guaranteed you hundred percent return rate.Risk is very good to take,but not to the extend that you will take risk on the money you are not sure you will get back.

Taking a loan does have different functions;

- Investment
- Emergencies
- Opportunities

But in overall, you should really know on how to repay it back.This is the only issue or problem for most people when taking up some loan.
They do forget on repaying on what they had borrowed. If you do resist on paying back then it would surely be putting yourself
into a situation where you would definitely putting your life at risks.

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Quote from: MFahad on April 11, 2023, 02:40:23 PM

Investment is good idea but selection of coins should make wisely and I think that taking loan for investment is not good idea because if you have taken loan and unlikely you choose such coin which have not future at Al then you will loss that money which you have taken from others. So in this case you will be in dual problems first is loss and second is to return that money to the others person from which you have taken it. If a person has no other option to increase wealth then he can put money into bitcoin because there is no doubt that it will enhance your money so one can easily return loan.

You are right.This topic is really interesting because I believe so many person's have fallen victim of the kind of situation before,when they take loan for investmest sake,and at the end of the day,they have problem with the person they got the money from.
To me,I really see it as something totally bad because investment alone is a big risk,and risk is supposed to be taken with your own personal money,and not someone else's money.
Anybody who values friendship and relationship won't try it, especially when the investmest would not guaranteed you hundred percent return rate.Risk is very good to take,but not to the extend that you will take risk on the money you are not sure you will get back.

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Quote from: ANSEL_2.0 on March 16, 2023, 04:41:12 AM

...
I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

if I were you what I would do is no longer care about the uncle, crypto is not an old man's game, if your uncle trusts his friend who invests in the meme coin then he only remembers their friendship story, not purely investing by his own decision. there are 3 mistakes your uncle did,
- Borrowing money for investment without thinking about ROI.
- give the loan money to other people, who also do not know about the risks involved in the investment.
- do not consider your words (as a nephew) to be words that must be heard.

don't think too deeply about what your uncle is doing, let him make his decisions and just pay attention.

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Quote from: Vaculin on April 11, 2023, 04:44:56 PM

Quote from: so98nn on April 11, 2023, 09:22:47 AM

Let us not even put a second thought to this one. Just now came across post where one guy tried to end his life because he lost more than 30k USD in crypto space and guess what from where the money came? You guessed it right - the loans! Not even that, he used money from the mums pension fund. Imagine what kind of days he might be living with that much stress. This is what happens when you go off the way to do non sensical investment. There rules of investment or basically ways to do it. We can't or should never do loans in the want of growing it in the VOLATILE market. That's stupid way to go around it

The reality is do not invest from borrowed money so that if you lose your investment, it will never create a life changing effect to you. And investments are definitely high risky especially if you are still new to it and you don’t have knowledge and experience about investments. So just to avoid life’s regrets in the future, never borrow money for investments. Invest at your own risk, invest only from your own savings.

It is true that you should never try to invest into something risky like cryptocurrencies trading. It is hard to gamble your own money, what more a money that is considered a liability. Although if you are financially capable of paying it without compromising your basic needs and wants, then do so. I see this move as risk move over another risk move since it is risky to loan and it would be more risky if that borrowed money will be invested to something risky by nature. I agree that as long as you can choose to avoid these, do so, so that you won't regret the consequences that might be attached to your decision.

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Quote from: bitgolden on April 11, 2023, 04:55:53 PM

Quote from: so98nn on April 11, 2023, 09:22:47 AM

Let us not even put a second thought to this one. Just now came across post where one guy tried to end his life because he lost more than 30k USD in crypto space and guess what from where the money came? You guessed it right - the loans! Not even that, he used money from the mums pension fund. Imagine what kind of days he might be living with that much stress. This is what happens when you go off the way to do non sensical investment. There rules of investment or basically ways to do it. We can't or should never do loans in the want of growing it in the VOLATILE market. That's stupid way to go around it

Yeah, it is a terrible tragedy and definitely something we should avoid. If you are taking a loan, consider what would happen if you can't pay it back before you took it. I took a loan, well not a loan but I put a big debt on my credit card in installments and for the next 3 years I will be paying that back, it is a big amount as well, it's a huge deal for me, but you know what?

I knew the risks when I took it and no matter what happens in my life, I would be able to pay the bare minimum that I need, even the worst possible things ever could happen, like if I lose my job, I would still be able to pay my bare minimums one way or another. Consider that and do not put yourself in a place where you would consider suicide if you fail.

You should be always that thinking up ahead on what are the risks and consequences if ever you wont be able to repay those loans on the right time.It would really be just that common sense that you

would really be having a huge problem on paying it back with those interest and having those penalties which would be piling up overtime on the time that you dont able to pay on the right time.
This is why when you do tend to invest on crypto then it should really be done via those extra funds you do have.You shouldnt really be making yourself that pushing on making use of loan amounts.
It would be life threatening if you are really that not responsible in towards into your actions, this is why you should really be that considerate.

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Quote from: so98nn on April 11, 2023, 09:22:47 AM

Let us not even put a second thought to this one. Just now came across post where one guy tried to end his life because he lost more than 30k USD in crypto space and guess what from where the money came? You guessed it right - the loans! Not even that, he used money from the mums pension fund. Imagine what kind of days he might be living with that much stress. This is what happens when you go off the way to do non sensical investment. There rules of investment or basically ways to do it. We can't or should never do loans in the want of growing it in the VOLATILE market. That's stupid way to go around it

Yeah, it is a terrible tragedy and definitely something we should avoid. If you are taking a loan, consider what would happen if you can't pay it back before you took it. I took a loan, well not a loan but I put a big debt on my credit card in installments and for the next 3 years I will be paying that back, it is a big amount as well, it's a huge deal for me, but you know what?

I knew the risks when I took it and no matter what happens in my life, I would be able to pay the bare minimum that I need, even the worst possible things ever could happen, like if I lose my job, I would still be able to pay my bare minimums one way or another. Consider that and do not put yourself in a place where you would consider suicide if you fail.

Vaculin

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Quote from: so98nn on April 11, 2023, 09:22:47 AM

Let us not even put a second thought to this one. Just now came across post where one guy tried to end his life because he lost more than 30k USD in crypto space and guess what from where the money came? You guessed it right - the loans! Not even that, he used money from the mums pension fund. Imagine what kind of days he might be living with that much stress. This is what happens when you go off the way to do non sensical investment. There rules of investment or basically ways to do it. We can't or should never do loans in the want of growing it in the VOLATILE market. That's stupid way to go around it

The reality is do not invest from borrowed money so that if you lose your investment, it will never create a life changing effect to you. And investments are definitely high risky especially if you are still new to it and you don’t have knowledge and experience about investments. So just to avoid life’s regrets in the future, never borrow money for investments. Invest at your own risk, invest only from your own savings.

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Investment is good idea but selection of coins should make wisely and I think that taking loan for investment is not good idea because if you have taken loan and unlikely you choose such coin which have not future at Al then you will loss that money which you have taken from others. So in this case you will be in dual problems first is loss and second is to return that money to the others person from which you have taken it. If a person has no other option to increase wealth then he can put money into bitcoin because there is no doubt that it will enhance your money so one can easily return loan.

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Quote from: blockman on March 26, 2023, 06:44:50 PM

Well, we use our personal money in trading and investing and that's much better than using someone else's money with trading and investing while it's in our hands.
Someone who takes a loan for trading has got that not-so-unique purpose and that's to make money. And their greed is harming them because they have never foreseen what's in it for them to come until they go into the actual situation of losing not just the money but also the trust of the lender.

To invest, it is better to use your own money, for example, the money left over from your monthly shopping. I do not recommend that someone make a loan to invest, myself included. Because the market is neutral, not everyone can predict the market accurately and it is possible that you will experience a loss. The point is that when you borrow money to invest, there will be times when you feel anxious and you will be psychologically disturbed when you experience a loss. So use personal money, it doesn't matter even if the value is small because you can invest for the long term.

so98nn

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Let us not even put a second thought to this one. Just now came across post where one guy tried to end his life because he lost more than 30k USD in crypto space and guess what from where the money came? You guessed it right - the loans! Not even that, he used money from the mums pension fund. Imagine what kind of days he might be living with that much stress. This is what happens when you go off the way to do non sensical investment. There rules of investment or basically ways to do it. We can't or should never do loans in the want of growing it in the VOLATILE market. That's stupid way to go around it

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Quote from: LUCKMCFLY on April 09, 2023, 09:50:25 AM

I think that everything Depends on the type of Loan that is going to be requested, because the conditions are the first thing to take care of, if a person does not have the ability to pay, it is impossible for a loan to be given for the same Reason, that can be Converted in a worse problem

Two biggest factors for a loan that will decide how it will possibly end for the borrower.

Interest rate
Liquidation term

Interest rate should not be too high because if it is too high, you will not be able to convert your loan to real profit for your investment.
Liquidation term is so important. When you use something as a collateral for your loan and it is liquidated per the loan terms and agreement, I am sure you will end with very small part of what you start.

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Quote from: ShowOff on March 25, 2023, 05:06:49 PM

Quote from: reagansimms on March 25, 2023, 09:30:22 AM

Your uncle has made two wrong decisions in Cryptocurrency investing. First he took a loan, secondly he entrusted the money to be managed by someone else. Cryptocurrency investment is a very risky activity, every money that goes into it is not guaranteed to return intact.

What if the value of the money invested decreases or even runs out as a result of the coins being purchased have no selling value. If my assumption occurs, your uncle is responsible for repaying the loan taken, while his friend will never care about the loss that befell him.
Investing with borrowed money is not recommended, because there are so many risks that might occur, especially if the money is managed by someone else.

Some people may consider their budgets to be invested by others who are more affluent and get their share of the returns. I think it's fine as long as it's not a loan budget, meaning it's a personal budget.

The problem is that loan budgets are at higher risk due to price volatility. One can never guarantee a return on investment, but as long as a deal is made then I don't think there is a problem between the two. But if it was me, I don't think I would.

I think that everything Depends on the type of Loan that is going to be requested, because the conditions are the first thing to take care of, if a person does not have the ability to pay, it is impossible for a loan to be given for the same Reason, that can be Converted in a worse problem, especially if it is due to trading and if you lose in trading, I think that would make it Worse,however, what I recommend is that if you are going to get into debt, that it be with immediate payment capacity in the event of any eventuality, that is , if you lose the loan money in trading that does not Affect your payments, otherwise any consequence is not good,Neither with a person, nor with banks.

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Quote from: Altryist on March 24, 2023, 02:53:51 PM

Quote from: blockman on March 24, 2023, 01:12:08 PM

There is no better idea than to trade or invest on your own with your own money. Do not be dependent on other people because you know that they're great traders or what. In this market, no one is great and everyone can get killed by the market by surprise. Those people that are also taking advantage of misinformed people, don't take investments from them, teach them how to invest in the market and let them know how risky it is to go here without having proper knowledge on how to deal with such volatile market.

A loan in some cases can be our salvation, but you should not even think about a loan for investment, at least I have not heard a single story when someone could take a loan, invest this money and make a profit. And even if I saw one such case, I would take it with skepticism, because I consider it stupidity, which carries much more danger than benefits and common sense.

I have heard a lot of sad stories about those people that took loans for investments. They've never done their research first before going all in with those investments that they were too happy to get in with the loan they've taken and guess what, majority of it got no luck.

Quote from: Rockstarguy on March 24, 2023, 03:37:05 PM

Trading is risky, some people lost their own personal money in trading, and I still don't know why one would think of borrowing money to trade in the name of making money. People mostly make this mistake when they put money as the first priority to make out of trading. If people should take their time to learn I think they won't be making thus mistake in trading. This mistake happens due to ignorance, lack of knowledge. Learning should be the first step to consider in trading and not to think of making money which will definitely end up in a bad result.

Well, we use our personal money in trading and investing and that's much better than using someone else's money with trading and investing while it's in our hands.
Someone who takes a loan for trading has got that not-so-unique purpose and that's to make money. And their greed is harming them because they have never foreseen what's in it for them to come until they go into the actual situation of losing not just the money but also the trust of the lender.

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Quote from: borovichok on March 26, 2023, 03:27:08 AM

Quote from: reagansimms on March 25, 2023, 09:30:22 AM

Your uncle has made two wrong decisions in Cryptocurrency investing. First he took a loan, secondly he entrusted the money to be managed by someone else. Cryptocurrency investment is a very risky activity, every money that goes into it is not guaranteed to return intact.

What if the value of the money invested decreases or even runs out as a result of the coins being purchased have no selling value. If my assumption occurs, your uncle is responsible for repaying the loan taken, while his friend will never care about the loss that befell him.
Investing with borrowed money is not recommended, because there are so many risks that might occur, especially if the money is managed by someone else.

Loan is never an option for me because I don't entrust my plans with it, based on the high volatility of the market. There's 50/50 chances of both losses and profits. It's considerate to map out solid planning before taking decision on the market rather than waking up one morning and take a drastic decision on the market which you will leave to regret later on. Investing in cryptocurrency is a risky decision to take because it's not a get rich quick scheme rather it's for passive income. We invest what we can afford to lose not what we get us into trouble if the project doesn't go as planned.

That is why before investing, it is already on our mind that crypto investment can't assure a profit and so we never expect much with this. However, we change it if we can do it better and are able to wait for the perfect timing. So if we are taking a loan and giving assurance to the lender that we can pay on time, we better not do it as it only compromised our promises and even turn to stress about where to get money to pay our debts. In order to avoid this, we better save our extra money and use it as it was the best option in this kind of investment.

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Quote from: reagansimms on March 25, 2023, 09:30:22 AM

Your uncle has made two wrong decisions in Cryptocurrency investing. First he took a loan, secondly he entrusted the money to be managed by someone else. Cryptocurrency investment is a very risky activity, every money that goes into it is not guaranteed to return intact.

What if the value of the money invested decreases or even runs out as a result of the coins being purchased have no selling value. If my assumption occurs, your uncle is responsible for repaying the loan taken, while his friend will never care about the loss that befell him.
Investing with borrowed money is not recommended, because there are so many risks that might occur, especially if the money is managed by someone else.

Loan is never an option for me because I don't entrust my plans with it, based on the high volatility of the market. There's 50/50 chances of both losses and profits. It's considerate to map out solid planning before taking decision on the market rather than waking up one morning and take a drastic decision on the market which you will leave to regret later on. Investing in cryptocurrency is a risky decision to take because it's not a get rich quick scheme rather it's for passive income. We invest what we can afford to lose not what we get us into trouble if the project doesn't go as planned.

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Quote from: reagansimms on March 25, 2023, 09:30:22 AM

Your uncle has made two wrong decisions in Cryptocurrency investing. First he took a loan, secondly he entrusted the money to be managed by someone else. Cryptocurrency investment is a very risky activity, every money that goes into it is not guaranteed to return intact.

What if the value of the money invested decreases or even runs out as a result of the coins being purchased have no selling value. If my assumption occurs, your uncle is responsible for repaying the loan taken, while his friend will never care about the loss that befell him.
Investing with borrowed money is not recommended, because there are so many risks that might occur, especially if the money is managed by someone else.

Some people may consider their budgets to be invested by others who are more affluent and get their share of the returns. I think it's fine as long as it's not a loan budget, meaning it's a personal budget.

The problem is that loan budgets are at higher risk due to price volatility. One can never guarantee a return on investment, but as long as a deal is made then I don't think there is a problem between the two. But if it was me, I don't think I would.

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It was an uncle of mine who took a loan on his name and sent it to a childhood friend living in America, he knew I was a crypto enthusiast and he never asked me to help him. I asked him why he took the loan for this, and he replied that the person is reliable, and his friend is a crypto trader, but he doesn't even know how crypto works.

I find out that his friend is focusing on meme coins only, he invested in crypto projects on pink sale, and the names are the type that you will laugh at when you hear them, I later told my uncle to keep praying that things go his way, he still believes that his friend is better than me and I am not trying to prove that I am better.

I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

The first thing is that you should never borrow and rate in the cryptocurrency market because here, if you can make a profit, you can also lose your capital.And the second most important thing is that it will be a very wrong decision to give capital to someone in a business about which you have no experience and no knowledge.Trading through a friend without any experience and knowledge in the cryptocurrency market can prove to be very damaging.And if your friend is also clumsy and does business through him and that too trading business, then this may prove to be a very wrong decision.And then meme coin investment can prove to be very risky.You should gain experience in trading yourself.If we were in your shoes, we would have told all these things to your uncle.And try to get your uncle interested in trading by himself instead of trading through his friend.

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Quote from: livingfree on March 25, 2023, 10:04:29 AM

Quote from: irsykes on March 24, 2023, 04:27:48 PM

make a loan for investment, in my opinion, you have to have the money in accordance with the loan that will be submitted.

And some of the borrowers that I've seen, they borrow money and then there's no certainty if they'll be able to pay the loan that they took.

It's because they're too confident that they'll be able to pay it off from the profit that they might make from that borrowed money. But it's all about the risk that they're taking and it's not a good thing to practice.

If you take loans, make sure that you've got the resources to pay it when things didn't go accordingly to what you've planned for so you won't have your reputation damaged to the loaner.

Anticipation is necessary, but fighting hard so that you don't want more and get the expected results. and don't spend money on things that aren't important unless it's more important. arranging money must also be conditioned so that the loan can be paid off quickly. and have to think more confidently before taking a loan

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Quote from: irsykes on March 24, 2023, 04:27:48 PM

make a loan for investment, in my opinion, you have to have the money in accordance with the loan that will be submitted.

And some of the borrowers that I've seen, they borrow money and then there's no certainty if they'll be able to pay the loan that they took.

It's because they're too confident that they'll be able to pay it off from the profit that they might make from that borrowed money. But it's all about the risk that they're taking and it's not a good thing to practice.

If you take loans, make sure that you've got the resources to pay it when things didn't go accordingly to what you've planned for so you won't have your reputation damaged to the loaner.

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Your uncle has made two wrong decisions in Cryptocurrency investing. First he took a loan, secondly he entrusted the money to be managed by someone else. Cryptocurrency investment is a very risky activity, every money that goes into it is not guaranteed to return intact.

What if the value of the money invested decreases or even runs out as a result of the coins being purchased have no selling value. If my assumption occurs, your uncle is responsible for repaying the loan taken, while his friend will never care about the loss that befell him.
Investing with borrowed money is not recommended, because there are so many risks that might occur, especially if the money is managed by someone else.

Topic: Taking loan for investment can be life threatening - page 2. (Read 881 times)