When is it useful to borrow bitcoin? - page 44.

RealBitcoin

hero member

Activity: 854

Merit: 1009

JAYCE DESIGNS - http://bit.ly/1tmgIwK

Quote from: SerenaL on October 05, 2015, 02:46:36 PM

I can imagine some gambling addicts want quick bitcoins to use on dice.

Yea but if you lose you need to pay back your creditor, and where will you get that money from?

In bitcoin the max loan term is like 1-2 weeks, you need some outside income to pay it back.

Not recommended!

SerenaL

full member

Activity: 126

Merit: 100

I can imagine some gambling addicts want quick bitcoins to use on dice.

bct-user

full member

Activity: 383

Merit: 100

Quote from: TastyChillySauce00 on October 05, 2015, 06:56:59 AM

if you asking When is it useful to borrow bitcoin?, the answer is when the btc price decresased until 200$ and wait btc to the moon, just simple thing, and to invest or anything

the problem is when the price is decreased and increased. loan is need a time expired days to pay back, also you need to use a collateral with the amount is equal with your amount to want to loan. my opinion is investing in bitcoin with amount of loan is bad idea.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

if you asking When is it useful to borrow bitcoin?, the answer is when the btc price decresased until 200$ and wait btc to the moon, just simple thing, and to invest or anything

adolf84

sr. member

Activity: 280

Merit: 250

The perfect time was when you find any kind if things or bussiness but you dont had bitcoin to buy it at the moment...

asa.convex

full member

Activity: 134

Merit: 100

Quote from: tommorisonwebdesign on August 02, 2015, 03:31:14 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.

To be honest ,personally i dont know when the perfect time to do it and i also would like to get some loan here but without any collateral.. And even in the future i have alot Btc and i start to think giving some loan here, u am still dont understand how to startingany kind of bussiness in this Lending cash world
.

NoRespect

full member

Activity: 196

Merit: 100

you should borrow bitcoin at critical moments, such as paying off the debt at the moment time, or things like that

RealBitcoin

hero member

Activity: 854

Merit: 1009

JAYCE DESIGNS - http://bit.ly/1tmgIwK

Quote from: maokoto on October 01, 2015, 11:31:52 AM

When you know of a great Bitcoin opportunity and you do not have enough Bitcoin to go, borrowing them can be a way of getting it going.

If you are going to invest those Bitcoins, that is easier than borrowing fiat, then converting, then investing, then converting back to fiat to repay the person that borrowed you the money.

Just my 2 cents.

I dont know, i mean didnt that happened in the current monetary system?

Nobody had money so they went and borrowed, but now they cant pay the debt and they borrow more...

We need to avoid this vicious cycle in bitcoin, lets not repeat history lol.

maokoto

hero member

Activity: 770

Merit: 500

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

When you know of a great Bitcoin opportunity and you do not have enough Bitcoin to go, borrowing them can be a way of getting it going.

If you are going to invest those Bitcoins, that is easier than borrowing fiat, then converting, then investing, then converting back to fiat to repay the person that borrowed you the money.

Just my 2 cents.

chanlance

full member

Activity: 126

Merit: 100

DESPERATE TIMES CALL FOE DESPERATE MEASURES.....IF BORROWING IS THE ANSWER WHY NOT

novadragon

member

Activity: 98

Merit: 10

when your debt has soared and you did not have money, that's when you can borrow bitcoin Cheesy

bct-user

full member

Activity: 383

Merit: 100

actually back to your purpose, what your reason to do a loan some bitcoin? if you really need some funds to loan even if you can't loan to your family or friends, you can do loan here with trusted people and use trusted escrow too.
and your collateral is must equal as amount you want to loan.

pjsonowal

sr. member

Activity: 350

Merit: 250

borrowing funds is useful when you are having an emergency...and you are sure that u will pay the lenders back with their money....

but dont make it a habit as this may cause problem for you as well....

irfan01

member

Activity: 112

Merit: 10

I usually borrow bitcoin only when there is something big in the world of trading and at that time I did not have the bitcoin Grin

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

It is still quite easy to take a loan out with your account as collateral, assuming that it has many constructive posts. There are plenty of trusted escrow around here, some don't require any fees and if you're trusted enough, you can even take a non collateralized loan with no interest. I find it useful if I'm urgently in need of BTC but I can't use exchanges as it would take too long or if I simply do not want the hassle of turning cash into BTC when my signature payout is due in a few days.

RealBitcoin

hero member

Activity: 854

Merit: 1009

JAYCE DESIGNS - http://bit.ly/1tmgIwK

Here's my 2nd thought:

It is only, and only, recommended to borrow in bitcoin:

1) If you have a solid stream of income
2) A solid business plan (if business loan)
3) Proper risk management or collateral
4) A solid default plan or some insurance, where the creditor can be recompensated if you cannot pay back.

There are many people who just take loans brainlessly, then cannot pay it back. Don't do that, always make sure that you are able to pay it back, and if you don't then you hold some collateral that can be released to the creditor in an event of default. We are tired of loan scammers.

Sir_lagsalot

sr. member

Activity: 392

Merit: 251

You take a loan when you need to buy something right now, that will pay back what you put in.

ajareselde

legendary

Activity: 1722

Merit: 1000

Satoshi is rolling in his grave. #bitcoin

Quote from: Blawpaw on September 27, 2015, 04:03:02 PM

Quote from: tommorisonwebdesign on August 02, 2015, 03:31:14 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 have a pretty good inside info letting you know a certain coin or asset will seriously a price rise, I guess it can be very useful to have a Bitcoin loan in order to invest in that same asset you had the info on.

I just borrow when i know i'll strike a good deal that will save me the interest i'll pay on the loan itself. Basically, any loan is a good one if you know u'll be in profit on the end of the term with it,
the only bad loans are those that people take to pay off loans from before, creating a never ending circle, and paying off interests all the time.

Blawpaw

legendary

Activity: 1596

Merit: 1027

Quote from: tommorisonwebdesign on August 02, 2015, 03:31:14 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 have a pretty good inside info letting you know a certain coin or asset will seriously a price rise, I guess it can be very useful to have a Bitcoin loan in order to invest in that same asset you had the info on.

eternalgloom

legendary

Activity: 1792

Merit: 1283

I could see situations where it could be useful to loan some bitcoins here.
If you're short for some transaction andn are not able to buy any coins at that moment.

If you're a long time member and it's a small amount, I'd give you a loan.

Topic: When is it useful to borrow bitcoin? - page 44. (Read 78989 times)