Topic: Today is the story of my investment in Bitcoin (Read 2557 times)

I am not accustomed to incurring debts to attain my dreams, but if your goal is Bitcoin, perhaps your perception of greater income opportunities lies therein. Borrowing money indeed carries risks, yet I view it from a different perspective when it comes to borrowing for productive purposes. It can be allowed and should be balanced with a strong mindset.

My principle is to avoid debt for consumptive needs, such as purchasing trendy items through installments. Forcing humans to operate beyond their means would have detrimental effects on individuals' habits. In essence, never finance something that will not be productive for us. That is the principle I hold dear.

Your bravery inspires me. Borrowing to invest in Bitcoin is brave. You've borrowed to make a big profit. I respect your daring, imprudent choice.

However, tread cautiously. Bitcoin has traditionally generated high returns but is very speculative and unpredictable. No surprise, right? If you borrow at a given interest rate, you're betting that Bitcoin will climb quicker. You're racing against time.

Market trends should guide your judgments, not your emotions. Follow BTC market developments, research, and adjust your strategy. Its your money, after all

Totally agree with you that crypto currency market is a volatile market. One should always invest that capital which after losing it will not affect your daily routine. Always invest capital that is more than you need. Borrowing and investing in the crypto currency market is a risky process. As we expect a good profit here, we also involve the risk of loss.

Of course Bitcoin investment is a good investment which is considered reliable in all crypto currency market. Bitcoin investment is a long term investment so I think it would not be wise to invest with borrowed money, but it's a good thing that his time to buy Bitcoin was right because the price of Bitcoin is now high.

Actually investing in Bitcoin with debt is risky. But OP invested in Bitcoin with a loan at the right time, OP are you still holding Bitcoin? If you are holding then now more than 50% profit. op wanted to hold for 2 years, if op holds for 1 more year it is expected to get more than 100% profit.

Order to invest in Bitcoin, one must have a good understanding of Bitcoin. It is best not to invest in Bitcoin with a loan from a bank or a loan from anywhere else.

The simple thing is if someone is able to repay the loan on time at the place where he borrowed it, obviously it won't be a problem for him even though he doesn't have much experience in this matter. Because apart from having to understand the risk of loss, one must also understand that the next risk is the difficulty of repaying a loan when it is not profitable.

The evidence of a price increase in Bitcoin is there if you just look at the price charts within the year, but how is it going for those who are doing something similar in 2021 at a time when the price of Bitcoin is higher than it is now? Some people are even still struggling to recover their initial capital so as not to suffer too many losses because in the past year everyone who has bought at high prices has had a hard time due to such drastic declines. So this is not only about experience, but also about luck in investing.

Investing in BTC from borrowed money in my opinion is something that is very risky, but in this case except for people who are experienced and skilled in analysis and prediction, of course there is no problem with a note that you have to be prepared for risks.

and I see op is an experienced person of course he also has extensive knowledge about btc investing, the proof is now the price of btc has gone up and now the price of btc is in the range of $ 30k and if op keeps it for the long term then in my opinion btc has the potential to go up more high again.

congratulations op because you have successfully bought 1 btc.

but this is the riskiest form of how to accumulate and invest in cryptocurrency as we knew that there is no assurance when we will be seeing the growth.
yes there is always a proof and speculation that each halving will provide better result but what if we fail? what if we did not meet what we expected?
since the borrowed money increases interest?
lucky if we will find a person or company that we will elt us borrow without interest and with long term stance , but trust me this is rarely to happen.

It is not only an important decision but also an extremely risky one because borrowing money to invest in a highly volatile asset like bitcoin. But as long as you can still repay that loan, even if you don't need the results of that investment, borrowing to invest can be considered.
I know people will say OP is taking risks and being too reckless, but I believe he has his own plan. He's not a newcomer to the market, so he knows what he's doing with his life and money.

It seems to me that you have made an important decision by deciding to buy 1 bitcoin despite not having enough money initially. I understand that you had a fixed deposit of $6,000 in the central bank, but what a surprise that the bank gave you a loan for $10,000 in such a simple way, they almost always tend to be tedious and never end up giving the loan but good for you, do This type of investment carries many risks in itself and even more so when you made a double loan, I don't know whether to tell you if you made a good decision or not since I like the idea of investing in BTC but I don't really like the idea of loans …although if all goes well you could easily pay off your debts, including 18-19% average interest over 2 years, averaging around 9% APR. The future is uncertain and I somewhat disagree that Bitcoin will reach stratospheric prices in 2 years

That being said, I wish you the best in your decision and I hope you can achieve your financial goals. Always remember to do a thorough analysis daily and be aware of any adversity I hope you achieve your goal.

Your point is reasonable, there is a lot of risk involved in investing and many things can happen at any time as a result of this risk. So I also think that investing by borrowing is not expected. Although my investment journey started with loans. When I lost my job in 2020 I became very helpless and destitute. A distant relative of mine is a successful Bitcoin investor. With some idea about Bitcoin from him. I invested in Bitcoin with a small loan. Today I am very independent. If I hadn't gotten good at investing, I might have been broke. But by God's infinite mercy it did not happen like that. From my experience I think, if there is no capacity to repay the loan. Then it is better not to invest by borrowing

I doubt that Op is in the green (positive returns) right now, especially since he has not been participating in this thread.. and his last posts in October 2022 were soliciting loans.. which was showing desperation even before the further bitcoin crashening in November 2022.

Sure, he should be in profits right now, but he would have had to have been able to have hung onto his bitcoin through more than two months of being in a kind of heavy negative, without panicking..

And I have my doubts that OP was able to hang onto his situation (and his BTC) without panicking, yet don't call me a hater - since I would be more than happy to hear good news from OP in terms of having had been able to hang onto his bitcoin through November, December and January.. and also the other largely flatness (and negativities) of the last year.. but yeah, he would currently be about 50% up if he had been able to hold onto his bitcoin throughout the last year (from the time that he started this thread).

That situation if you do not have collateral to pay your debt, of course it is a compassion if it forces yourself without preparation when a bad situation occurs.
But if you have collateral to pay your debt, you don't need to sell the bitcoin loss that you have when the price is down and when the debt payment time is due, then you will not be too dizzy in handling the problem because there is already previous preparation.

What is done by OP if he calculated he already had the advantage of his investment last year, and also he was not even two years to pay his debt, there was still plenty of time for him, and possibly in the following year he could have the ROI he aspires to.
The answer he strongly believes in the power of Bitcoin.

Its not only about the Bitcoin rate going dip. But actually we should also consider some other factors that affects debt repayment such as, Economy status, family issues, trade market crisis, Money Ego,Pleasures, Hacks/Attacks and more. So its better to stay at the brighter side on investing with the little you have to avoid risky investment.

It is not advisable to take a loan for a Bitcoin investment, if the price dips more how are you going to pay back the loan, the risk here is on the high side.

The interest rate too is something else, although you have chosen what you want, yes, you are at risk alone, but one thing is sure, the movement of Bitcoin is difficult to understand, one needs to be careful when investing, that's why is not a good idea to invest in bitcoin with a borrowed money.

The interest rate is what I don't like, even if Bitcoin can surprise you easily with the perfect timing I don't want to put myself in an angle of unrest, maybe its just me but taking loan for some thing as risky as Bitcoin could give me high blood pressure and to avoid such I always stay away from every loans, from Banks or not.

Some people are very good at using loan and it always work out well as they plan but I am not one of them, I did tried in the past and things start falling apart after a while, gave a try later, and its same result, I wonder if loan favors some people more than others or maybe it has something to do with me.

In conclusion, using borrowed money to buy investment assets, especially bitcoin, is an action that can plunge us into a worse situation, plus the price of bitcoin is difficult to predict, even if someone understands technically and the history of bitcoin movements, predictions are still for the future. is very difficult, because we will not know what situations bitcoin will encounter on its way.

What the OP did was too reckless in terms of investing in my opinion, it's better for me to use the remaining money from my needs every month, and invest in bitcoin with the DCA strategy and collect it until it becomes a round count of 1 bitcoin, behavior like what the OP did very risky in investing, and I don't know how he was doing when bitcoin had a big FUD to hit the price of $15k.

Maybe today we are talking that now bitcoin hits $30k,, meaning OP has a 50% profit from his total investment last year, that is if he manages to get past his panic and fear period in the final quarter of 2022, if he actually fails to hold on in that period , I can't think how he can calm down with his debts.
Therefore it is important to carry out a DCA strategy to maintain your stability in investing in bitcoin, especially the year after ATH bitcoin.

Based on several education I learned about loan and seems effective with 20% loan amount than our assets have, there are not recommended for trader of investor take loan and investing in bitcoin without have money back up when floating or bitcoin drop suddenly. Getting loan in the bank we need collateral ownership documents and has expensive values than how much loan take in the Bank. Investing in Bitcoin is good decision but I don't think worth when getting loan in the bank and have use for capital to start invest in Bitcoin.

Better spent in daily day above $10 and invest in Bitcoin from our salary than getting loan and faced difficult later when loan repayment if Bitcoin price still drop.

You are assuming facts not in evidence.

Sure we have evidence that the BTC price went up (like you mentioned), but you are assuming that OP did not fuck it up somewhere between the time he took the loans in June-ish 2022 and the time that BTC price finally recovered (which largely was not UNTIL AFTER mid-January.. and not even sustained recovery above the $20k-ish levels (plus costs to service loans) until recently.. so far.. ). 

Now, I will agree that if OP had actually made it through the whole period without panicking, until now, then he would have a decent cushion, even assuming some costs of servicing the loans in the past 10 months or so.

The OP undoubtedly took a big risk. But his risk has worked out positively. According to the current price of Bitcoin he is now profiting if he holds it. OP bought a bitcoin in $20000 so he is able to withdraw approximately 50% of his investment at the current price. If he is able to use other financial sources to pay off his debt then he is heading for a large amount of profit. Although I never agree to buy bitcoins from bank loan. In this case I am using DC like you. Because for those who do not have enough money, buying bitcoins in this way will be very effective. But I'm impressed with the confidence by the OP about Bitcoin. Hopefully he will make large profit by the long-term investment.

You might be correct, but the so far evidence does not seem to support such conclusions... and surely anyone who invests into bitcoin or even engages in fairly risky strategies can likely attest to the fact that it is way more difficult to maintain a prudent and persistent strategy during periods in which you overleveraged yourself... so surely, sometimes people are able to persist in terms of actually achieving positive outcomes during such hostile periods, but many times it is quite difficult to achieve such ends, especially when overly leveraged (and largely ONLY preparing for ONE bitcoin price direction.. which was UP).. which seems to have had been the case of OP back in late June 2022 when he started down his loan for bitcoin journey that was somewhat based on a superficial fantasy desire to "own one whole bitcoin"... which he could not even fairly proclaim to have had achieved, when the bitcoin that he supposedly acquired was not even paid in full, but instead a mere symbol of holding more value than he could actually afford to hold, and then the BTC price moved against him, and not just for a short period of time, but for somewhere in the ballpark of 7 months.. and even longer... if we really want to attempt to appreciate actual "on the ground" facts of what actually happened in recent times involving OP's behavior and involving the BTC price.


Yep.  For sure, there are a variety of ways to attempt to measure your own bitcoin progress, and results are going to vary in terms of maximizing performance, which likely is not even achievable for most people and likely should not even be a practical goal that people attempt to achieve. 

Surely there are ways to tailor your goals to your own financial and psychological circumstances, and surely many of us can likely point out to times and our own behaviors in which we made various mistakes along the way, but likely our mistakes are going to be less if we are mostly attempting to employ our own circumstances and not get forced into overly stressful circumstances that are stressful upon our finances and therefore stressful upon our psychology too.

Many of us in bitcoin likely feel quite good with the passage of a lot of time that we have been able to stack sats over the years, and even if we might not have stacked as many sats as we could have stacked, we are likely quite satisfied with ourself if we are able to continue to stack during periods of downward BTC price performance and not to end up losing bitcoin along the way.. and likely that we come out of such periods with more BTC than we had before such periods had started... and sure it could take 4-10 years or longer to really be able to measure a decent amount of meaningful wealth being created and even compounded upon.. .. and surely there likely are going to be various points along the way to be able to meaningfully reassess our own strategies to make sure that we are making progress or feel that we are making progress.. and surely even in the past 2-3 years, there are still a lot of BTC HODLers and accumulators who might still be under water, and sometimes might not even feel comfortable with keeping on stacking sats, and at the same time some of those folks just continue to persist to stack sats, and surely it seems that they are going to benefit down the road.. even though at the same time, it is not guaranteed that they will benefit.. even if bitcoin still seems to be amongst the best asymmetrical bets that is currently available to a large number of people (if not the best asymmetric bet.. no guarantees).