Topic: Would you borrow money to "invest" in bitcoin? (Read 1333 times)
hell no, unless i could buy btc for 2$ piece
you are missing the option for "it depends on the price"
at 5 dollars per bitcoin i would sell my kidney, at these prices heck no.
at 5 dollars per bitcoin i would sell my kidney, at these prices heck no.
You were here since 2010.. You could have sold your kidney. So do I when I saw them at 5$ and 7$ when pirate. But I didn't, I even waited to some kind of dip when the pirate fiasco.
Anyway, It's very easy to see everything from the future. Now, if you could time travel, you would sell your kidney, so do I. But not, at 5$ you wouldn't sell your kidney, and the prove if that you didn't.
i tried so hard to get mtgox funded but it was so damn complicated.
That 19.2% doesn't inspire much confidence.
Leveraged trading is like starting tequila shots after you've already started drinking. You could end up having an even better time than before, or it could end shame.
That being said, I'll offer a different perspective. It's not that crazy to borrow fiat at an APR of 10% where there's a 50/50 chance that Bitcoin prices will rise at least that much in the next week/day/couple of hours. Never invest more than you could afford to lose, but if someone is already planning on investing $1000 in bitcoin over the next few months, why not front run that and borrow the money now?
Also, for those who have had their balance increase in value by several orders of magnitude, the risk of a massive price drop can be managed by setting price points to sell in case of a crash in prices. For example, someone with a gain of $10K in bitcoin value could easily double down on the initial investment and put in another few thousand dollars that would be backed by the previous gains. If the value goes up more, sell the gains to pay off the debt. If prices go down, sell while you are still net positive. There's still the risk of a rapid crash in prices, or MtGox going offline permanently, of course.
That being said, I'll offer a different perspective. It's not that crazy to borrow fiat at an APR of 10% where there's a 50/50 chance that Bitcoin prices will rise at least that much in the next week/day/couple of hours. Never invest more than you could afford to lose, but if someone is already planning on investing $1000 in bitcoin over the next few months, why not front run that and borrow the money now?
Also, for those who have had their balance increase in value by several orders of magnitude, the risk of a massive price drop can be managed by setting price points to sell in case of a crash in prices. For example, someone with a gain of $10K in bitcoin value could easily double down on the initial investment and put in another few thousand dollars that would be backed by the previous gains. If the value goes up more, sell the gains to pay off the debt. If prices go down, sell while you are still net positive. There's still the risk of a rapid crash in prices, or MtGox going offline permanently, of course.
you are missing the option for "it depends on the price"
at 5 dollars per bitcoin i would sell my kidney, at these prices heck no.
at 5 dollars per bitcoin i would sell my kidney, at these prices heck no.
You were here since 2010.. You could have sold your kidney. So do I when I saw them at 5$ and 7$ when pirate. But I didn't, I even waited to some kind of dip when the pirate fiasco.
Anyway, It's very easy to see everything from the future. Now, if you could time travel, you would sell your kidney, so do I. But not, at 5$ you wouldn't sell your kidney, and the prove if that you didn't.
you are missing the option for "it depends on the price"
at 5 dollars per bitcoin i would sell my kidney, at these prices heck no.
at 5 dollars per bitcoin i would sell my kidney, at these prices heck no.
Wipe out every dollar you have to invest in bitcoin if you want to. But thats where it stops. It has to be your money.
Taking out a loan to speculate is probably one of the worst things you can do.
It all depends on how much you're willing to risk on an already extremely high risk investment.
Myself I don't, I can certainly see that some would.
Myself I don't, I can certainly see that some would.
Very stupid idea that could potentially financially ruin you. Never put more money in bitcoin than you can afford to lose, even if you believe in bitcoin with all your heart and soul.
Are you out of your mind?
Never invest money you can't lost.
Never invest money you can't lost.
So just a thought. There's some serious money that could be made if you leverage.
I've started moving a large portion of my savings into Gox, but for a variety of reasons borrowing money might be smarter option (depending on the tax laws of your country).
Even then, I wouldn't mind putting more into something that is climbing so fast.
What do you guys think?
Never borrow to invest - you may end up between a rock and a hard place. I've started moving a large portion of my savings into Gox, but for a variety of reasons borrowing money might be smarter option (depending on the tax laws of your country).
Even then, I wouldn't mind putting more into something that is climbing so fast.
What do you guys think?
So just a thought. There's some serious money that could be made if you leverage.
I've started moving a large portion of my savings into Gox, but for a variety of reasons borrowing money might be smarter option (depending on the tax laws of your country).
Even then, I wouldn't mind putting more into something that is climbing so fast.
What do you guys think?
I've started moving a large portion of my savings into Gox, but for a variety of reasons borrowing money might be smarter option (depending on the tax laws of your country).
Even then, I wouldn't mind putting more into something that is climbing so fast.
What do you guys think?
Jump to: