When is it useful to borrow bitcoin? - page 4.

Altynbekova

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Quote from: SAMKUSH on October 08, 2016, 11:05:54 AM

There are some sites like trading and gambling sites that have minimal withdrawals, sometimes they can be as high as 0.1 bitcoin, a loan could be used to add enough bitcoin to the account to withdraw everything. This is just one example which would be a good reason to loan bitcoins.

Whenever you use borrowed money you will see it can get you into big problems. That's why I would advice to use your own money to trade or gamble coins.
See it is a risk free way to go though life.

South Park

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I am terrible at Fantasy Football!!!

Quote from: mishra1994u on October 08, 2016, 07:45:41 AM

Actually i dont think at any point of time it can be useful to borrow the bitcoins.I am against the borrowing money for any kind of reason and bitcoins is also a form of currency which is also money so i am against borrowing bitcoins as well.

In the past I was a part of that camp as well, to never ask for a loan, but now I think that a business opportunity is one of the few reasons in which asking for a loan is correct, the problem is that now people ask for loans for almost anything and to me that is incorrect.

SAMKUSH

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There are some sites like trading and gambling sites that have minimal withdrawals, sometimes they can be as high as 0.1 bitcoin, a loan could be used to add enough bitcoin to the account to withdraw everything. This is just one example which would be a good reason to loan bitcoins.

Doamader

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Quote from: btcdevil on October 08, 2016, 08:12:12 AM

It is actually not recommended to go for borrowing for any type of work, as borrowing bears risk if you are not able to repay back, instead of do some other work and earn it and then try to fullfill the work for which you were to borrow.

Well its a hard market and option to try to make a revenue from it, but i do believe a few of us which do lend here are getting some good results, as zazar he usually does loan any ammountss to a trusted group that requires his help.

btcdevil

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It is actually not recommended to go for borrowing for any type of work, as borrowing bears risk if you are not able to repay back, instead of do some other work and earn it and then try to fullfill the work for which you were to borrow.

mishra1994u

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Actually i dont think at any point of time it can be useful to borrow the bitcoins.I am against the borrowing money for any kind of reason and bitcoins is also a form of currency which is also money so i am against borrowing bitcoins as well.

Labumi

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Quote from: ipanks on October 08, 2016, 02:16:17 AM

Quote from: bitcoinisbest on October 08, 2016, 01:33:31 AM

Firstly when you need it urgently than only borrow anything. Secondly for your business or trading purpose you can borrow it or also can keep it when you think there will be increases in price and than can return back with interest .

when you are really sure that bitcoin price will be up in high price then its useful to borrow bitcoin but be careful about the fee that you should give back to lenders because the fee is another amount that we should thinking, i think the smallest fee is the better.

but nonetheless that borrow bitcoin has something a bad thing when we are wrong in a lot of cases, lent it to provide the information that most of the fraud perpetrated on loaning bitcoin. But it also depends on your belief because there are things that I think will not necessarily be true

ipanks

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Quote from: bitcoinisbest on October 08, 2016, 01:33:31 AM

Firstly when you need it urgently than only borrow anything. Secondly for your business or trading purpose you can borrow it or also can keep it when you think there will be increases in price and than can return back with interest .

when you are really sure that bitcoin price will be up in high price then its useful to borrow bitcoin but be careful about the fee that you should give back to lenders because the fee is another amount that we should thinking, i think the smallest fee is the better.

bitcoinisbest

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Firstly when you need it urgently than only borrow anything. Secondly for your business or trading purpose you can borrow it or also can keep it when you think there will be increases in price and than can return back with interest .

Piltover

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Quote from: milewilda on October 07, 2016, 09:16:53 PM

Quote from: South Park on October 07, 2016, 11:50:03 AM

Quote from: ?? on ??

Quote from: milewilda on October 06, 2016, 07:56:50 PM

Quote from: South Park on October 06, 2016, 03:53:43 PM

Quote from: dunfida on October 06, 2016, 02:20:28 AM

Quote from: chaser15 on October 06, 2016, 12:42:32 AM

Quote from: South Park on October 05, 2016, 04:15:42 PM

If you have an idea for a possible productive opportunity which you think you can make a reality then taking a small loan may be justified unfortunately most of the loans in the forum are for gambling and stuff like that.

There are people who taking out long term loans for business purposes. This is an example of a good purposes that a borrower do.

But for gambling purposes which the output is not that clear then that is really a shit if people will borrow just for that even for a small amount.

Those kind of borrowing money would be very useful and wise thing to do because you use it for business purposes and you could able to gain profit with it. Borrowing money for the sake of gambling then as you said its really a shit thing to do and you make yourself put into a big problem in the future,

Yeah and the problem is widespread, I do not go to the lending sub forum that much but out of curiosity I saw some threads and a lot of users asking for a loan are doing it for gambling purposes.

Borrowing money for gambling is not a good idea on any way because it would put you into deep debt on long run especially when you are using it for gambling and as we all know that gambling would definitely lose up our money and doesnt guarantee sure profits.

Yeah and I think if the lender is going to ask you and you are going to answer that for sure the lender will going to back off and not going to reply to you anymore. Because why you are going to borrow just for gambling? The chances of winning in gambling is like 1/100 and how you are going to pay that debt if you got lose?

In fact you are mistaken as I have said if you go to the lending sub forum you will see people asking for loans for the explicit reason to gamble that money and they still get the loan if they are offering collateral.

Correct, lenders would not mind if what purposes does the borrower have as long he has a good collateral on his loan amount then they would surely agree on the transaction because no matter what happens to the money of the borrower the lender wont mind at all since its his responsibility to repay back the loan amount or else hes collateral would be at risk.

As an example it can be good to borrow some bitcoin when you really need the money to set something up or because of the fact that you need to pay something really bad.
The last reason is not the best reason to borrow bitcoins but of course its an option you can take.

milewilda

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