Topic: When is it useful to borrow bitcoin? - page 8. (Read 78966 times)
The only time it is ever useful to borrow anything, be it bitcoin, fiat, or anything else, is when you will profit more from what you want to do with what is borrowed than it will cost to borrow, it's called leverage. Borrowing for any other reason at all is ultimately shooting yourself in the foot.
Its useful to borrow when you need the money for payments or to start up something that can let you make profit.
The fact is that you have to pay it back so keep that in mind borrowing cost money!
The fact is that you have to pay it back so keep that in mind borrowing cost money!
Maybe if you really need the money its worth it but overall I do not think its worth borrowing something like that, its not just something you can do simply.
I think that borrowing bitcoins is very risky.
I think that borrowing bitcoins is very risky.
I agree borrowing bitcoin is very risky because there are some lenders and as well as borrowers that are tend to be scammers. So it is not a good thing if you are going to borrow bitcoins but if you badly needed it for something profitable like trading. Then that is the only way to make borrowing useful for everyone.
There's alot of scammers going around but they are always the borrowers because they borrow money and disappear with it.
But anyways I am not sure when it is useful to borrow bitcoin but when you do be sure to do it safe.
Maybe if you really need the money its worth it but overall I do not think its worth borrowing something like that, its not just something you can do simply.
I think that borrowing bitcoins is very risky.
I think that borrowing bitcoins is very risky.
I agree borrowing bitcoin is very risky because there are some lenders and as well as borrowers that are tend to be scammers. So it is not a good thing if you are going to borrow bitcoins but if you badly needed it for something profitable like trading. Then that is the only way to make borrowing useful for everyone.
There's alot of scammers going around but they are always the borrowers because they borrow money and disappear with it.
But anyways I am not sure when it is useful to borrow bitcoin but when you do be sure to do it safe.
It is never useful to borrow money in the end you make a loss cause borrowing money costs money so imo it's only worth it when you can turn that borrowed money into even more money.
But you have to be sure cause if you lose the money your screwed cause you have to pay it back still.
But you have to be sure cause if you lose the money your screwed cause you have to pay it back still.
Supposed to be the reason to borrow is like that, if we would use it to earn more as a fund for out project, but sometimes others borrow bitcoin just because they want to.. Also, when we borrow, we should be capable to pay since it is not given as free, so collateral is a great stake, so even if you run, the deal is still not screwed and the borrowed money is still paid.
If we give a strong collateral for sure no one would intend to run after all unless if hes crazy enough to do that thing. Its better to pay the debt rather than to run because if you build a bad reputation at first you would really have a hard time on making a loan again next time.
I dont think you should borrow them right now because the price is to high if you want to borrow bitcoins you should try it on a lower price becuase the less you get it for the more profit you will make off course.
It is never useful to borrow money in the end you make a loss cause borrowing money costs money so imo it's only worth it when you can turn that borrowed money into even more money.
But you have to be sure cause if you lose the money your screwed cause you have to pay it back still.
But you have to be sure cause if you lose the money your screwed cause you have to pay it back still.
Supposed to be the reason to borrow is like that, if we would use it to earn more as a fund for out project, but sometimes others borrow bitcoin just because they want to.. Also, when we borrow, we should be capable to pay since it is not given as free, so collateral is a great stake, so even if you run, the deal is still not screwed and the borrowed money is still paid.
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.
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'd say the same. Unfortunately, it is very rare such a situation comes up due to the insane interest rate. If it wasn't for something real special where I was prepared tp lose money, I'd go to a fiat bank instead and buy BTC.
It is never useful to borrow money in the end you make a loss cause borrowing money costs money so imo it's only worth it when you can turn that borrowed money into even more money.
But you have to be sure cause if you lose the money your screwed cause you have to pay it back still.
But you have to be sure cause if you lose the money your screwed cause you have to pay it back still.
If you want to borrow bitcoins you should try to do is right after a big crash because you will make the most profit when you buy them at the lowest price you know.
Borrowing bitcoin is useful when for example you own a business and need a bit more capital to close a deal out which you know is making profit.
You need to use the borrowed money to turn it into more money else it's not worth it since borrowing money costs money.
You need to use the borrowed money to turn it into more money else it's not worth it since borrowing money costs money.
I think you are speaking the truth about this with all my heart, if you cannot make money with the borrowed money you should not do it because it would not be worth it.
Its way too risky to borrow money if you cannot pay it back, just have a decent plan people.
We cannot simply ignore the uses of loan for a developing business. I do see many people are having good idea for their projects but in due to insufficient funds they are struggling. For those people loans are very good helper.
Borrowing bitcoin is useful when for example you own a business and need a bit more capital to close a deal out which you know is making profit.
You need to use the borrowed money to turn it into more money else it's not worth it since borrowing money costs money.
You need to use the borrowed money to turn it into more money else it's not worth it since borrowing money costs money.
I think you are speaking the truth about this with all my heart, if you cannot make money with the borrowed money you should not do it because it would not be worth it.
Its way too risky to borrow money if you cannot pay it back, just have a decent plan people.
Borrowing bitcoin is useful when for example you own a business and need a bit more capital to close a deal out which you know is making profit.
You need to use the borrowed money to turn it into more money else it's not worth it since borrowing money costs money.
You need to use the borrowed money to turn it into more money else it's not worth it since borrowing money costs money.
The most bitcoins are borrowed at the lowest price of the bitcoin off course but i dont think borrow bitcoins is a really profitable thing you know allot of peopel are trading bitcoins because that goes many times faster.
Borrowing bitcoin is never so useful. Borrowing money always costs money so if you talking about efficiency it's only efficient if you can make alot of money with the money you borrowed somehow.
The most useful time to borrow the bitcoin is at the lowest price off cours i dont think that would help everytime because the price is not such low as always but you can try becasue never tried never know.
Low price i think its much better to borrow bitcoins when the price is high that you can convert into fiat if the price is decrease and low you can convert back your fiat into bitcoin and you gain profit and you can pay also your loan..
The most useful time to borrow the bitcoin is at the lowest price off cours i dont think that would help everytime because the price is not such low as always but you can try becasue never tried never know.
It is never useful to borrow money or bitcoins as you have to give back more
well if you borrow bitcoin for a valid reason and you have a confirm source of income and you know you can pay them back then it is not that much bad.but if you borrow bitcoin for gambling(most of loans being taken for gambling reason) then it is not good at all. if you loose that money the situation sometime gets worst for you.
If you want to borrow a bitcoin there should be a clear explanation and will usually be asked also to what is bitcoin you borrow, if borrowed bitcoin just to play a gamble I don't think you will get a loan
Exactly, only with a business plan or anything alike you should borrow money but to borrow to bu that shiny new pc or to gamble that is a no-no. Only borrow money to make money and not for any other reason.
i think if we are really sure that the rate will be increase so high, then we can borrow some bitcoin into our friends and when the rate is reach the highest rate, then you can give what you borrow with your friends and you still have bitcoin in your wallet and you make a good profit that.
That is not a good idea and for sure your friends aren't going to agree that you are going to borrow without interests rate. And if your purpose is just like that for holding then don't borrow bitcoin. Better if you are going to buy a lot of bitcoins if your purpose is just going to wait for the price increase in able to get some profit.
You are right, even if you borrow from your friends you should expect to have interest since its money and money cant be borrowed without interest at all, it depends on your friends decision if he would put interest or not and also you would have no guarantee of when you would able to pay your friend since you dont know when bitcoins price would rise.
If you have friends who play nicer also borrow bitcoin to your friend, I myself just me playing bitcoin in my area, so it is hard to do ", but I don't seem to be ever borrowed to others
i think if we are really sure that the rate will be increase so high, then we can borrow some bitcoin into our friends and when the rate is reach the highest rate, then you can give what you borrow with your friends and you still have bitcoin in your wallet and you make a good profit that.
That is not a good idea and for sure your friends aren't going to agree that you are going to borrow without interests rate. And if your purpose is just like that for holding then don't borrow bitcoin. Better if you are going to buy a lot of bitcoins if your purpose is just going to wait for the price increase in able to get some profit.
You are right, even if you borrow from your friends you should expect to have interest since its money and money cant be borrowed without interest at all, it depends on your friends decision if he would put interest or not and also you would have no guarantee of when you would able to pay your friend since you dont know when bitcoins price would rise.
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