Would You Ever Take Out a Loan in Bitcoin?

[Bitbond-support]

I would consider taking out a loan in bitcoin, sure.
For a small loan, from 0.01 to 0.25 btc or up to 1 btc, I have some colateral to reduce or eliminate the risk for the lender too, but I would likely try to start out with a small loan up to 0.10 btc

If you were given a small amount of bitcoin to invest in another person, would you be interested in taking the time to test the platform?

[chopstick]

People do it all the time on btcjam, and then just simply never pay it back.

[cryptworld]

no,never
did you know what happened in the bubble? people didn't pay because bitcoin had increased and nobody could guarantee the money

[daddybios]

I never took the credit and do not recommend it.
You need a lot of money? It is best to borrow money from friends.

[aso118]

If you have a bearish price outlook, you can take a loan in Bitcoin.
You are effectively going short on Bitcoin by taking a loan. Of course, the loan would have to be at a reasonably low interest rate.

[rax]

That'd be batshit crazy.

[dollarneed]

i just wondering how it mecanism to take out a loan in bitcoin like loan site especially for people that live in a country which so far than you,?

[bryant.coleman]

I don't think it will be a good idea to take out loans in the form of Bitcoins, as the exchange rates are too volatile right now. Imagine what will happen if I lend BTC10 from someone and suddenly the exchange rate jumps from $230 per coin to $1 million per coin. It will make me bankrupt. Taking out loans in fiat is a much better option.

[dollarneed]

I don't think it will be a good idea to take out loans in the form of Bitcoins, as the exchange rates are too volatile right now. Imagine what will happen if I lend BTC10 from someone and suddenly the exchange rate jumps from $230 per coin to $1 million per coin. It will make me bankrupt. Taking out loans in fiat is a much better option.

Yeah i just figured it out if i lend for someone with bitcoin thats gonna make me bankrupt or rich by the way are they lend their bitcoin with amount of bitcoin or dollar?

[Unbelive]

Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks 

No way i dont like loans anyway. To risky to take them in first place.

[Q7]

Not me, but I did consider the option before. For instance, if you predict the price of btc is going to crash very soon, you can take a btc loan, sell it for quick cash, and then buy back again when it's cheaper. Even though you have to pay back the interest for the loan in btc, eventually if you work out the maths carefully, you are still on the winning side. If you get what I mean...

[saddampbuh]

i would never take out a loan

[tiggytomb]

I haven't taken or given a loan in Bitcoin.  It is wide open to abuse as there is no real collateral that one could use and both sides be confident in the exchange, I have seen on the forum that people use their accounts as collateral which is fair enough but then what if the person is ready to leave the forum anyway and does not mind losing their account and forfeit the loan.

Lending can be a slippery slope, using payday loans as an example with the extremely high interest rate, people fall into a vicious circle of taking one loan after another just to cover the interest on the previous loan, it is sad when in a society as rich as ours that people need to take out loans just to get by.

Then on the other hand, if both parties agree on a rate and both are happy, lending can be a great service.

[Jakez]

I never taken loan. But i recently applied for one. If there is no interest and you get some time for the repayment then its good.

[hanomnom]

Been considering it for a while but not sure if anyone would lend to me anyway as I don't currently have any form of photo ID to prove  who I am. Keep meaning to reapply for my passport or provisional drivers license. I'm terrible for putting things off that need to be done.

[BillyBobZorton]

Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks 

No way i dont like loans anyway. To risky to take them in first place.

No one likes loans, but sometimes it's the only way out. I have never been in a situation where I was forced to take a loan to get out of a problem, but some have been saved thanks to loans that allowed for prosperous businesses being created.

[peligro]

Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks 

If you see the interest rate on BTC loans, then it makes little sense to take loans. The only situation I can think of where I would take a loan like this if I don't have access to wallet and need some payment done urgently in which case it will be a few hours to a day loan.

[pooya87]

Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks 

i have never taken a loan in bitcoin and i don't think i would ever do that. the bitcoin price is so volatile that can change any minute which makes taking a loan in BTC high risk (for me!)

but i think the main reason for me was that i have never needed any amount of bitcoin that i already didn't have in my wallets.

i was thinking about giving out loans myself but the loan section is full of people doing that right now so i think there is no place for new blood

[Amph]

I don't think it will be a good idea to take out loans in the form of Bitcoins, as the exchange rates are too volatile right now. Imagine what will happen if I lend BTC10 from someone and suddenly the exchange rate jumps from $230 per coin to $1 million per coin. It will make me bankrupt. Taking out loans in fiat is a much better option.

why bankrupt, how can you know that your 10 btc will be valued so much after your loan? it does not make sense to me

at worst you will lose the opportunity to become rich , but nothing more, it's a bit like missing the bitcoin train...

[EvenMatt]

never ever
the loaner could easily run away with my coins  !