When is it useful to borrow bitcoin? - page 26.

wintermeasures

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Quote from: tommorisonwebdesign on August 02, 2015, 04:31:14 PM

When is it useful to borrow bitcoin? Considering that it is really hard to get a loan here on this forum even with escrow, and the plentiful amount of scammers floating around here, is there really a great reason to even bother getting a loan here? I mean unless you're flat broke I could understand but even still it's an uphill battle. It's way easier to take out a cash advance in an emergency. I suppose if you're dealing with a trusted borrower and trustworthy escrow you may have a chance in obtaining your funds. Other than that, it can be difficult for a scam-less transaction to take place.

I think the right time to borrow bitcoin is if bitcoin prices are down and use that money to buy bitcoin as much as possible. or loans bitcoin when there is a sudden need as sick as possible. Don't borrow only for gambling, cloudmining or worse hyip. thank you

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Quote from: Bitcoinbee on June 04, 2016, 12:07:37 AM

If you borrow now and will just hoard it, it is nothing but a waste of time otherwise you are borrowing bitcoin from somebody that has no interest and that would be just fine. If you borrow bitcoin for the purpose of making it as a capital for an investment if manage well could make a profitable income in the near future.

That's why don't borrow if you will not going to use it for an important like investing or if there's an emergency and you need fiat money. That's another
good reason for borrowing bitcoin and exchanging it to fiat.
That's only applicable if there's an emergency.

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Quote from: Bitcoinbee on June 04, 2016, 12:07:37 AM

If you borrow now and will just hoard it, it is nothing but a waste of time otherwise you are borrowing bitcoin from somebody that has no interest and that would be just fine. If you borrow bitcoin for the purpose of making it as a capital for an investment if manage well could make a profitable income in the near future.

Yeah because your borowing money and the interest will higher and the amount of your borrowed money is still same its not advisable really because its nothing happen and worthfull for your barrowed money but if they invest their barrowed money they can make it multiply and earn more and that is very useful things happen to barrowed money and theirs no wasting of time happens.

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If you borrow now and will just hoard it, it is nothing but a waste of time otherwise you are borrowing bitcoin from somebody that has no interest and that would be just fine. If you borrow bitcoin for the purpose of making it as a capital for an investment if manage well could make a profitable income in the near future.

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Quote from: Ulloa on May 31, 2016, 10:17:32 AM

You have to know that it can takes a long time until the value will be higher and that can be bad for the most people because not everyone have the patience to wait.
But if you want to borrow it you have to do it when the value is low so the chance is higher to make some profit with it.

Well that counts that it is useful to borrow when the price is low, but as on what is happening today, I think price will not even get low for a mean time.
Its just going higher and higher so if you really need to borrow badly, you just need to think again about it.

It can be useful on that case but I still do not recommend you to do this because its just very bad in my eyes.

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Quote from: boyptc on May 30, 2016, 12:23:57 AM

Quote from: pearl11 on May 29, 2016, 11:54:48 PM

The rigth time to borrow bitcoin is when you know that price of bitcoin will go up in a couple of days,, you will pay the lender lower than your requested loan.. Grin

Yeah you're right. You borrowed the money and going to paid that instant once you get some profit on it when the price increase.
But I think the lender will still earn from it with interest.

You have to know that it can takes a long time until the value will be higher and that can be bad for the most people because not everyone have the patience to wait.
But if you want to borrow it you have to do it when the value is low so the chance is higher to make some profit with it.

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Quote from: Bitcoinbee on May 30, 2016, 11:51:59 PM

Borrowing bitcoin is not really useful. I would recommend you to barrow a paper currency and invest it by buying bitcoins. And that you can hoard or circulate the trading procedure to make it grow or wait till the btc value goes up and sell it. Thus it will be more easy to settle a credit thru paper currency that fluctuates slightly than settling a borrowed bitcoin that would have a higher value later and you will be loosing a lot from it if the difference of the future value would be higher than the borrowed value.

I guess you are right, we have the same thought, as long as I'm able to spend something and does not really need to borrow. Of course, I
won't borrow, not just the bitcoin I'm borrowing, of course the trust of the lender. And if I got troubled paying my debt, for sure.
The trust of lender to me will be broken.

Bitcoinbee

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Borrowing bitcoin is not really useful. I would recommend you to barrow a paper currency and invest it by buying bitcoins. And that you can hoard or circulate the trading procedure to make it grow or wait till the btc value goes up and sell it. Thus it will be more easy to settle a credit thru paper currency that fluctuates slightly than settling a borrowed bitcoin that would have a higher value later and you will be loosing a lot from it if the difference of the future value would be higher than the borrowed value.

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Quote from: avw1982 on May 30, 2016, 10:10:50 AM

Quote from: Etaren on May 30, 2016, 06:59:15 AM

If you want to borrow a Bitcoin you have to be sure that you cant lose some money with it otherwise that will be sin to you and that is the baddest thing that will happen if you lose money. So you need also a bit luck if you want to earn more money with Bitcoin and patience is also important.

It's possible to get a loan if you can keep your account as a collateral but if you are in an emergency and need a huge amount, the only possibility is to get fiat from a bank else borrow money from a friend. Getting bitcoins in an emergency is not always possible unless you have a regular exchanger who can lend you funds anytime. You can try localbitcoins but there as well you will need to exchange money to get bitcoins...

What I can think of if emergencies come is that you will go approach someone who you really know and borrow to him direct.
Because borrowing for a collateral will take a long time and needs to be review just like localbitcoins. Borrow in fiat and exchange in bitcoin
if you need bitcoin.

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Quote from: Etaren on May 30, 2016, 06:59:15 AM

If you want to borrow a Bitcoin you have to be sure that you cant lose some money with it otherwise that will be sin to you and that is the baddest thing that will happen if you lose money. So you need also a bit luck if you want to earn more money with Bitcoin and patience is also important.

It's possible to get a loan if you can keep your account as a collateral but if you are in an emergency and need a huge amount, the only possibility is to get fiat from a bank else borrow money from a friend. Getting bitcoins in an emergency is not always possible unless you have a regular exchanger who can lend you funds anytime. You can try localbitcoins but there as well you will need to exchange money to get bitcoins...

tabas

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Quote from: Etaren on May 30, 2016, 06:59:15 AM

If you want to borrow a Bitcoin you have to be sure that you cant lose some money with it otherwise that will be sin to you and that is the baddest thing that will happen if you lose money. So you need also a bit luck if you want to earn more money with Bitcoin and patience is also important.

You don't have to be that lucky in able to learn, what you need is knowledge. Once your borrow bitcoin, you must know what to do and where to
spend it and also give value for every satoshis you borrow. If you will do it, for sure you will become productive.

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Quote from: mindrust on August 03, 2015, 07:10:19 AM

If your estimated gain is more than the lender's interest rate, you can say it is a very useful situtaion to borrow bitcoins.

But then borrowing bitcoins or borrowing money from bank is no different than each other, while except this forum is full with scammers, banks are usually safe.

Tldr; I wouldn't borrow or lend any btc's in this forum. Too risky.

I think borrow anything from any one is break the relation from others. So try to get as like as gift or buy on the situation. If any of us going to borrow and can't return on time it will break up tour relation.

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Quote from: tabas on May 26, 2016, 05:54:43 AM

Quote from: Bitcoinbee on May 26, 2016, 05:48:01 AM

borrowing bitcoins would be useful if you will invest using it. And investing would be at the right time that may be good enough to have a nice ROI. Since borrowing what will be yours is the gains minus the interest. If you are gonna buy and sell trading using borrowed btc, I think it's not worth the profit. But if you will be using it for projects regarding btc's or opening an online shop then that would be profitable as long as you have a good method of statement to follow like a proposal.

Yeah, borrow only if you are going to use it for investment, because if you are going to use that only for personal use only. I think higher chance
of paying your borrowed money is lower and you are at risk, you must able to create an income for the money you borrowed.

Yes it will eventually go up and the interest of it will possibly go up makes you filling up the interest gap coming from your own pocket and it is a waste.

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It is hard to know when you will know when the right time will be for the borrow your Bitcoin because you have to be for sure that you can earn a lot of money with it. Otherwise that will be sin for you and the chance is also that you can lose some money with it.

Etaren

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If you want to borrow a Bitcoin you have to be sure that you cant lose some money with it otherwise that will be sin to you and that is the baddest thing that will happen if you lose money. So you need also a bit luck if you want to earn more money with Bitcoin and patience is also important.

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Quote from: boyptc on May 30, 2016, 12:23:57 AM

Quote from: pearl11 on May 29, 2016, 11:54:48 PM

The rigth time to borrow bitcoin is when you know that price of bitcoin will go up in a couple of days,, you will pay the lender lower than your requested loan.. Grin

Yeah you're right. You borrowed the money and going to paid that instant once you get some profit on it when the price increase.
But I think the lender will still earn from it with interest.

But i dont think thats good idea and no one try that, for me it really useful to borrow money in the essence that you will use it for important matters like investing, just like my friend he lend money so he can have investment for this site and thats quite happen for past months and really he get profited with it and he already payed his debts in the right time and hes decision is wiser and very usefull knowing he can get profit for his borrowed money and thats good, the bad thing really there is if you borrowed money just to have money in the pocket so you have budget for gambling,wandering and for anything bad habits is very bad decision because by the time you already spend all your money and nothing left that time can make you broke,

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Quote from: pearl11 on May 29, 2016, 11:54:48 PM

The rigth time to borrow bitcoin is when you know that price of bitcoin will go up in a couple of days,, you will pay the lender lower than your requested loan.. Grin

Yeah you're right. You borrowed the money and going to paid that instant once you get some profit on it when the price increase.
But I think the lender will still earn from it with interest.

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The rigth time to borrow bitcoin is when you know that price of bitcoin will go up in a couple of days,, you will pay the lender lower than your requested loan.. Grin

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This month of May is not a good day to borrow Bitcoins. If borrow last Monday May 23 rate is still $444 USD to 1 BTC and if you promised to pay after a week the you will be paying at rate of $530 USD to 1 BTC and that is on top of the agreed interest. Double whammy for the borrower and great profits for the lender.

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Quote from: tabas on May 26, 2016, 05:54:43 AM

Quote from: Bitcoinbee on May 26, 2016, 05:48:01 AM

borrowing bitcoins would be useful if you will invest using it. And investing would be at the right time that may be good enough to have a nice ROI. Since borrowing what will be yours is the gains minus the interest. If you are gonna buy and sell trading using borrowed btc, I think it's not worth the profit. But if you will be using it for projects regarding btc's or opening an online shop then that would be profitable as long as you have a good method of statement to follow like a proposal.

Yeah, borrow only if you are going to use it for investment, because if you are going to use that only for personal use only. I think higher chance
of paying your borrowed money is lower and you are at risk, you must able to create an income for the money you borrowed.

Agree because its very useful to people to borrow if they dont have money to invest when they see good program and they see future earnings to come if they will go and invest with it and the problem is they dont have money and by that i can say that time is very good to borrowed because you use it for good investments. the problem really their is your borrowing money and intendednit to gamble and really its bad idea and cab broke you.

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