Bitcoin Forum

In moment like this that people dwell more on HODLING more because they don't want to sell out their acquired coin as it won't pay them well, don't you think if there is a bitcoin loan obtainable,guys won't like to obtain loan until the price is favourable?

As far as I remember, there was a similar project called MoneyToken or something similar. This project had something similar to this idea, there you can also take loans and do a lot. In general, now it seems already past.

I have gone through a project like this loan system but i think it failed. I am not sure though. But i think it might not work, i mean how can someone be sure that the market is gonna stay bearish for how long.

if you take a bitcoin loan you don't pay back in fiat, you also pay it back in bitcoin + profit. so there is no point in taking a bitcoin loan and then waiting for its price to go up because you won't make any profit from that!

the only way people make it profitable is when they want to do something with it, like trading. for example imagine you find a shitcoin being pumped 100% in a day and you don't have any bitcoins. you take a loan and put it in that shitcoin and get the profit, pay the loan back and have a nice little leftover.
beware that it is very risky.

Taking loan in Bitcoin and if your income in in fiat is a suicide.  You must always take loan in currency you are getting salary. Always. If you get paid in euro you dont take loan in CHF or USD.

in my opinion there was a similar project, but it was not popular, as far as I know it is now forgotten

whatever you do, i hope there is always a collateral in any finantial operation. I would also take a close look of the reputation of any user that pretend to execute a lending operation. I have seen tons of operations that went "wrong" in scam accusations section from bitcointalk

Yes, something like that was. Obviously, this business can not be successful now. Because
But cryptocurrency turnover is currently so insignificant that it is very difficult to provide a full-fledged credit infrastructure with guarantors and guarantees.

Giving loan can be profitable with working strategy. It will be win-win situation for both borrower and lender. Btw Moneytoken is not reliable project for getting a loan due to unprofessional team behind idea. You can confirm my opinion after checking complaints on various service review sites.

any loan can always be used wisely if you have a head and you are not stupid and you take it for the purpose of increasing money and not buying some goods

Don't quite understand what the point of these crypto-backed loans is... They give you loan and take your crypto as security deposit. Ok, but why not to sell your crypto and use the same money without borrowing anything? :)

As I know, there are forms of loaning and mortgage of cryptocurrency and in the future, I think there will be banks of cryptocurrency

This is already being done on some cryptocurrency lending websites(there is also a section of this forum where you can lend your Bitcoin) .
The idea however has been defeated with this prolonged bearish market

Money token is dead, Nexo was creating mass advertising to its loar platform and i know lending block was having the same service as nexo too. But that needs a lot of verification and collateral to do that.
Money token created by incompetence developer.

Yes it is a wise idea that getting bitcoin loan to hold your coins until they rise is another way of clinging onto coins. This works two ways--one is you can run your daily chores and other activities with a loan while your coins are saved from selling off for peanuts. So lets make think about bitcoin loan positively and find ways to implement this wise idea.

Obtaining bitcoin loan, that sounds good. It will be a nice idea if there won't be scam associated with it later. What collateral will be used for obtaining such loan anyway. Just curious.

Obtaining loan should be paid with bitcoin as well, regardless of the price you have to pay for it. The risk is on your part as a borrower, what if the price moves up quickly and you missed that? You borrowed at a very low price and the money that you're going to pay for that loan is in fiat, you need to convert first and buy bitcoin for the payment. But when you have obtained loan, the price was cheaper and you were able to sell it because you need cash. Take loans with cash but don't loan with crypto's if you will sustain it with cash, just saying.