When is it useful to borrow bitcoin? - page 36.

tommorisonwebdesign

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Quote from: BeGoods on March 12, 2016, 11:30:02 AM

Quote from: CoinsRoyal on March 11, 2016, 07:22:38 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 think borrowing should be done in real life, so no borrowing is not a good reason to borrow.
I honestly can't find a good reason to loan money.

Having debts is a pain in the ass. If you don't have the money, then don't spend it. Live by that.

if you want to borrow money for reason "do not have the money". I think it's better not owe. You would not be able to pay it and you'll end up in jail. unless you have a business idea. You can borrow money for capital. certainly investor or lender will give you a long period of time and you can get profit on there

I agree. Borrowing money from someone IRL would ideally be the best way to avoid getting scammed. Some people no not have a credit card or a line of credit and they have no other source to go to other than this place or BTCJam, but then the lender always gets ripped off.

Sourgummies

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Quote from: BeGoods on March 12, 2016, 11:30:02 AM

Quote from: CoinsRoyal on March 11, 2016, 07:22:38 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 think borrowing should be done in real life, so no borrowing is not a good reason to borrow.
I honestly can't find a good reason to loan money.

Having debts is a pain in the ass. If you don't have the money, then don't spend it. Live by that.

if you want to borrow money for reason "do not have the money". I think it's better not owe. You would not be able to pay it and you'll end up in jail. unless you have a business idea. You can borrow money for capital. certainly investor or lender will give you a long period of time and you can get profit on there

Yeah, well, with bitcoin there's more anonymity associated with your addresses. They won't be able to find out who you are if you're unable to repay the debts. That's why there's so many scammers in the loan subsection.

BeGoods

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Quote from: CoinsRoyal on March 11, 2016, 07:22:38 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 think borrowing should be done in real life, so no borrowing is not a good reason to borrow.
I honestly can't find a good reason to loan money.

Having debts is a pain in the ass. If you don't have the money, then don't spend it. Live by that.

if you want to borrow money for reason "do not have the money". I think it's better not owe. You would not be able to pay it and you'll end up in jail. unless you have a business idea. You can borrow money for capital. certainly investor or lender will give you a long period of time and you can get profit on there

knowhow

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One thing is sure you must know the risks involved into this they will be the only risks you can and will go for,here lending bitcoins can be profitable,and with the colateral you get your reward,i lend at poloniex as well and well 0.04% and 0.07 % its for sure a great interest for the frozen coins i had stoped at my wallet previous,soo all days my portfolio is growing ,even slowly.

diodio5

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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.

yeah because borrowing easier. if you have a steady income or you have salary every month or every week it was not a problem. but if you have no income. better not to borrow bitcoin mate. because you will be hard to pay the debts

CoinsRoyal

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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 think borrowing should be done in real life, so no borrowing is not a good reason to borrow.
I honestly can't find a good reason to loan money.

Having debts is a pain in the ass. If you don't have the money, then don't spend it. Live by that.

LarryHocks

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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.

jt byte

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Its useful to borrow bitcoins bitcoins only if you in real need of them because otherwise you should just buy them right away.
Borrowing has a lot of disadvantages, and the lending fee is one of the disadvantages that is the biggest problem if you are borrowing it.
I think you can better just not do this because it has risks.

Mastsetad

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Quote from: knowhow on March 06, 2016, 02:55:51 PM

Quote from: wildan88 on March 04, 2016, 12:34:06 PM

I will try to borrow when I really need to something that will surely benefit.

Well with the current interest into eth pumped moment,with over 50k bitcoins inside it poloniex lending service is getting around1% and up it should stay for a while maybe you can try to lend your coins for a while and get the beneficts of lending,or even here its better offer then there for sure.

The lend rate is 0.2-0.3% per day at present. So it is till quite good. It is much better than save the fiat in banks.

knowhow

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Quote from: wildan88 on March 04, 2016, 12:34:06 PM

I will try to borrow when I really need to something that will surely benefit.

Well with the current interest into eth pumped moment,with over 50k bitcoins inside it poloniex lending service is getting around1% and up it should stay for a while maybe you can try to lend your coins for a while and get the beneficts of lending,or even here its better offer then there for sure.

wildan88

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I will try to borrow when I really need to something that will surely benefit.

knowhow

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Well we need to take some risks nowadays,trading altcoins is the same thing risked but may turn into a great opportunity to grow our portfolio,i believe as my self loan money to other with something as colateral is worth ,because you can get an altcoin or an account that you may easy sell it here to others .

Bitcoinbro

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Its just useful when you really need money for something, but for other things you should not do it, I think its not worth it to do it if you are not in problems.
Be sure to be sure of the fact you are gonna do it because it has some risks of course.

Ayers

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to buy an altcoin that is skyrocketing like ethereum right now, without wasting much time on earning bitcoin, or exchanging your fiat in a exchange
i would definitely ask for a loan in this case, you can repay the interest easily

CryptoBjorn

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Quote from: jt byte on February 28, 2016, 02:32:57 PM

Quote from: diodio5 on February 28, 2016, 08:58:14 AM

I think you do not need a time when need money urgently to borrow money. when you have an idea for a business. and you need capital.
You can borrow money on lending. it would be great for business

Yeah there is no good reason to borrow money. However if you need money fast and there is no other option then a small loan could be the answer.
However it's better to sell items (coins f.e.) then to loan, since you will have to pay interest.

It is not that smart I think now to borrow it. The value now is very low so that is not so good to borrow.
Maybe you can do it later and that is so good, if you wait for a higher value in the future.

ultimatesky

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SkyFall

Its useful to borrow the bitcoin if you really need money to pay your rent or something, I think if that is needed you can do that for sure, of course its always a choice and it has some risks also.
So you have to think about it real good if you ask me.

jt byte

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Quote from: diodio5 on February 28, 2016, 08:58:14 AM

I think you do not need a time when need money urgently to borrow money. when you have an idea for a business. and you need capital.
You can borrow money on lending. it would be great for business

Yeah there is no good reason to borrow money. However if you need money fast and there is no other option then a small loan could be the answer.
However it's better to sell items (coins f.e.) then to loan, since you will have to pay interest.

diodio5

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I think you do not need a time when need money urgently to borrow money. when you have an idea for a business. and you need capital.
You can borrow money on lending. it would be great for business

Alvin Fahriza

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Quote from: Rizky Aditya on February 27, 2016, 01:53:08 AM

It is useful to borrow Bitcoin when you need to pay off a loan very desperately. Other than that, don't get a loan.

it's like digging a hole. close the hole. you'll only get into trouble. if they borrow money to pay debts

mettalmag

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the fact that I have free electricity and place for up to 4 antminers is it worth to borrow for s7? I have three s1 miners which I can sell localy for 130-150$ that will also cover the loan plus the amount of mined btc-s monthly.
Im thinking about this and some advice would be great

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