Bitcoin Forum

I cannot resist these cheap coins  :-[

100% yes. You wont regret it.

Yes, but only if the interest is high.

Do you have the ability to pay it back if things don't go your way? Or if things take years to go your way?

Make sure you can stay solvent for longer than the market can stay irrational.

I would not risk taking anything from a company called kneecap finance or similar loan sharks.

Only if you're borrowing from your own other investments.

That's what I'm doing to buy during these times of falling prices, re-allocating my own capital.

OP remembers me long time ago. I once took a high interest loan of $5000 ,
Lost it all in 2 days on FX markets, after got $10k in total.
The good point of the history is that loan was taken but not by my face.
FAIL or win?

Something I learned:
If you risk money with isn't yurs. Like loan one. Very hard (almost impossible) to make "right decision", because Hard earned money and fast money have very different feelings. If you invest hard earned money every movement of investing will be deliberate and precise, which is most important in investing. From that rule investing becomes a real job and profits becomes hard earned money.

Some guy took out a student loan to buy BTC right before the $1000 run up.

You could buy BTC and sell it back to make each payment.  If it goes up, you can repay it easily and have some leftover, if it stays flat, you lose the interest, if it goes down, you need to figure out how to make the last payments.

Extremely risky. Bitcoin is already high risk/high reward. Why bet with money that isn't yours, on high interest on top of that? I think the only time I would was on a FOR SURE upswing rally, even then I would rather dip into my savings and pay that back over a high interest loan. Not this sideways downwards staircase we have been on for months.



"MAH! I NEED MORE MONEY FOR BITCOINS!" (May work too)

i feel also tempted. sell the gold or not...


 :)

For those in the UK why not try https://www.quickquid.co.uk/

Only 1999% APR Representative. Bitcoin already rose 4000%, it only has to do that once more and you will double your money!

If everybody uses this exemplary service we will push the price up together and ride unicorns into the sunset.

What could possibility go wrong?

a worst case scenario would be this:



price could rise before loan is granted.



 :D

no, dont do it

That would be irresponsible to a magnitude never seen on this earth.

Yes, and you should also sell your children to a child slavery ring. And sell your kidneys, heart, brain and other organs to a back alley surgeon.
Can't get enough of these cheap bitcoins. To da moon! 10k before tomorrow.

Great idea you will have years and years of pleasure from it.
Why not throw in a kidney or a lung, they are redundant organs. You can buy them back once you're rich!!!

It's a win win !!! :D

It depends whether or not there is a security interest.

Now the Bitcoin prices should have been to the bottom, Buy more, Earn more

The keyword here is BUY. Do whatever you need to, but just buy, and hold

How high is the interest? And yes I will do that too..

It was a wiser investment than engineering school.  ;)  I sold my house and am waiting for the bottom final capitulation to invest the proceeds.

lol

What happens if you can't pay it? How much do you have to pay in interest rates? I'd never do that, but in some very rare cases, it may make sense.

How do you know we are the bottom tho? OP is taking a massive risk, but whatever floats your boat.

You would lose money paying off the interest if bitcoin stagnates at it's current price for months.

Just take on another loan to fill the hole.
This way you essentially create infinite moneyz!!!

http://img4.wikia.nocookie.net/__cb20101001003650/theartoftrolling/images/7/7a/Trollface-3078_preview.jpg

Now you are thinking like a central bank.

Sell your house, your car, your wife and your kids and if you can also take a loan, and send all the money to an exchange to buy Bitcoin, because lets face it, Bitcoin is more important and has a guaranteed growth... and you are going to miss the opportunity of your life if you don't do that.


and the guys who are telling you to do so will be selling you "cheap" coins that they bought between $1-100 ... I a sure they will regret it later when the price is 1 million a coin.

Its risky but do it, the chances of going up is really high..

Obviously dont. Invest only what you can lose.

FTFY

Right.

I would advise more strongly here: Never take loans for speculative purposes! Bitcoin is a speculative investment. There is zero guarantee that it will develop the way you hope it will. Bitcoin is a great innovation and we all hope the best for it. But with great innovation also comes great uncertainty. Reality can be harsh.

If you want to buy more Bitcoin, try to earn extra income. Alternatively sell stuff you don't need for Bitcoin.

Personally, I value freedom more than wealth. And I would not feel free to the same degree with a heavy loan on my back.

ya.ya.yo!

And the guys who will sell at 1 million a coin will regret it when it goes to 100 million per coin!