When is it useful to borrow bitcoin? - page 35.

Hirose UK

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Quote from: butdabass on September 08, 2015, 08:43:48 AM

of course when bitcoin price is going really down!
borrow it,and keep it until the price normal rhigher

lol, that's great idea, seriously.
but sometimes life doesn't go the way you plan. maybe when the price is down, you have much bitcoin so you don't need to borrow.
so I think the best time to take loan is when you need to buy something with bitcoin and you don't have money for it.

buy I extremely don't suggest to borrow bitcoin on website or people who you don't know exactly.

Erzatium

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Quote from: Indrawan77 on March 22, 2016, 08:03:15 PM

It becomes useful when you already know what you want to do with then bitcoin you have, or maybe you already predict bitcoin price is going to raise but you lack of capital to invest

If you would borrow bitcoin and expects the price to rise, I'm afraid that you won't profit from it as you will be paying the same amount of bitcoin then add up the interest... perhaps if the agreement would be you will borrow bitcoin and you will pay your loan with dollars.. That way I think you will profit.

Yes you are right. But the bad thing is that you never know what is going to happen with the value of Bitcoin and that is the problem.
It is a currency and you will never know what the value will be next week or next month.
So you must take risks to make an action.

Indrawan77

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It becomes useful when you already know what you want to do with then bitcoin you have, or maybe you already predict bitcoin price is going to raise but you lack of capital to invest

praprata

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Is it possible to borrow but be careful, to who you are borrowing to because it can be very dangerous.
Due to the point some people just want to scam you and never give it back.

HarryKPeters

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Borrowing is just bad in the overall experience in my opinion, if you borrow someone some bitcoins this can have real problems because its not so easy to getting them back if someone is not helping you.
I would not recommend you to do this because there are too many risks in my opinion, it can go wrong in a lot of ways.

phreaky

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Quote from: DeDordtenaar on March 21, 2016, 09:08:48 AM

Quote from: BitsandBites on March 20, 2016, 01:47:11 PM

Quote from: LarryHocks on March 11, 2016, 10:28:33 AM

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I second this. Borrowing has too many ways to go wrong.
Even in real life, many people borrow cash and just disappear from your life.
You can only borrow to someone you trust 100%.

agree with you many fraudsters who use loans to deceive. so better lend someone who have you believe. and do not forget to collateral that have worth should be higher than the amount borrowed

U must borrow it when the value is quite low. That is the best option, than you will have a higher chance to get some profit.
But you need also some patience that is also very important, otherwise you will lose some money and that will be not good.

DeDordtenaar

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Quote from: BitsandBites on March 20, 2016, 01:47:11 PM

Quote from: LarryHocks on March 11, 2016, 10:28:33 AM

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I second this. Borrowing has too many ways to go wrong.
Even in real life, many people borrow cash and just disappear from your life.
You can only borrow to someone you trust 100%.

agree with you many fraudsters who use loans to deceive. so better lend someone who have you believe. and do not forget to collateral that have worth should be higher than the amount borrowed

Nameless Coin

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Quote from: MTBTT on March 20, 2016, 01:43:47 AM

Quote from: GermanFoobla on March 18, 2016, 08:33:24 PM

Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.

if you borrow at the lending section. You can choose its own fee charges. maybe 10% or 5% many people will give you the loan if reasonable. you can custom own expense fee

Indeed. But you must also know that the value must rise later in the future and that is the most important thing.
Otherwise you will lose more money and that will be very bad. I hope that more people will do it and that the most people also get some profit.

BitsandBites

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Quote from: LarryHocks on March 11, 2016, 10:28:33 AM

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I second this. Borrowing has too many ways to go wrong.
Even in real life, many people borrow cash and just disappear from your life.
You can only borrow to someone you trust 100%.

JasonXG

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The best reasons to loan BTC would be just like any commodity. Business venture, business startups, or investment opportunities. Maybe you need a load for a new car or even a house ? Many many reasons, anything really.

GermanFoobla

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Quote from: knowhow on March 20, 2016, 10:50:01 AM

Well you can choose the income you wanna to have on the loan but the question is will the member repay the loan.

There is a risk involved and if you loan to a jr. member or newbie the risk is the same as gambling. Even if you have some collateral you should make sure you can sell it for the min. value of the loan + some interest else you will keep on spending time without that you get anything back.

knowhow

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Well you can choose the income you wanna to have on the loan but the question is will the member repay the loan.

MTBTT

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Quote from: GermanFoobla on March 18, 2016, 08:33:24 PM

Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.

if you borrow at the lending section. You can choose its own fee charges. maybe 10% or 5% many people will give you the loan if reasonable. you can custom own expense fee

CryingMidget

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Quote from: GermanFoobla on March 18, 2016, 08:33:24 PM

Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.

borrowing bitcoin is considered useful if it helped you in someways that is very important, example is if you need it to renew a domain, renew an account, pay for something that is important to you like utilities or house rent or monthly amortization

GermanFoobla

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Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.

knowhow

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Well usually here the most request from low ranks accounts are directed to force the sell off the account others just to gambling.The big accounts requests can be used to pay some extra bill ,or some emergency that appeared,soo they pay the interest according the ammount sure its a profitable market ,but only working with reputation members ,otherwise you will be sponsor just others with your coins.

vendetahome

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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.

if you can live without it, then better don't take it, because first of all, it's very hard to find trustful loaner and not a scammer, and second you will have to give back more, maybe pay for escrow too, so it's not worth it if you don't need it a lot, better wait month and then get what you want

Altcoinsupporter

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Its smart to do that when the value is low. It is not a good time now to do it. Because the value is not low.
So you have to wait. For a long time I think. Because the value will rise soon and that is very good for those people who already has made an investment.

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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.

when i need urgent cash money,i more easy and comfort to borrow bitcoin and trade it into cash money,and its happen when i need bitcoin,i do same way. yu have better borrow bitcoin when you need to trade altcoin,and then make sure you will pay it as promised.

starbook

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Btjam is the best example of something you should follow,there are 90%scamers inside it and 10% honest members being lending or asking for the loan,that said you should avoid it if you wanna some kind of interest on the lending side.Here you can profit from the lending service that is being offered by a group of people,some are making a good income with this ,but taking the lower risk,since they usually works with colateral.

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