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Author Topic: When is it useful to borrow bitcoin?  (Read 78661 times)
n691309
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February 12, 2016, 10:07:35 PM

It depends how you are using the borrowed bitcoin, if you are converting them to cash then it's a bit risky because the bitcoin price changes very often.


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1537785480
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busybee7
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February 13, 2016, 12:12:22 PM

When their price is very low, becouse if you'll keep them for while, you'll give back less, unless guy you got btc from will want same price in bitcoins he gave you and not $
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February 13, 2016, 03:29:29 PM

If you borrow in bitcoins, it will be risky because you might need to return much more than you got

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February 14, 2016, 05:51:18 PM

don't borrow when you don't need extra money, better is to don't buy something and wait for more money but don't borrow
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February 15, 2016, 09:11:45 AM

I think borrowing your bitcoins is very risky, but it can be useful for sure as an example if you need to pay medical bills or something. The downside it may be very risky due the bitcoin is very unstable.
Alvin Fahriza
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February 16, 2016, 07:54:02 AM

when you really need them. when a tight squeeze, and there is no other way to earn money, you can borrow, I often borrowed in lending, and it was very easy

elizabethqueen
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February 16, 2016, 08:03:28 AM

When is it useful to borrow bitcoin? Considering that it is really hard to get a loan here on this forum even with escrow, and the plentiful amount of scammers floating around here, is there really a great reason to even bother getting a loan here? I mean unless you're flat broke I could understand but even still it's an uphill battle. It's way easier to take out a cash advance in an emergency. I suppose if you're dealing with a trusted borrower and trustworthy escrow you may have a chance in obtaining your funds. Other than that, it can be difficult for a scam-less transaction to take place.
really?borrow is usefull?i dont think borrow is usefull,i hate borrow,everytime is not good for me to borrow anything include borrow bitcoin,expect i really2 stuck,and i dont have any other way out.

gregyoung14
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February 16, 2016, 08:09:20 AM

don't borrow when you don't need extra money, better is to don't buy something and wait for more money but don't borrow

That is true...some of those borrower has the lifestyle of the rich and the famous, but only have few money to spend in it so they borrow,, that would only  put as in the grave of debt..  Smiley

Yep, stick with this one. Don't borrow when you dont need extra money. Cause noone can actually get enough of money. And no matter how much they have in their hands, it will surely fly away.
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February 16, 2016, 11:48:17 AM

Its useful if you really need something to pay or something, and you will com in trouble than its pretty sweet.
I would not do it many times or quickly but its of course a option you may consider.

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February 16, 2016, 02:34:09 PM

Its useful if you really need something to pay or something, and you will com in trouble than its pretty sweet.
I would not do it many times or quickly but its of course a option you may consider.

That's true, people borrow bitcoin usually when they need it for some billing purposes or other reasons, but if there is no another source you expect earning some coins from it then you risk not be able to repay the loan at time
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February 16, 2016, 03:13:44 PM

Its now not so useful I think. The value is now quite low, so you have nothing to it. Maybe later you can do it if the value is higher.
If you are in a emergency you can do it. But that is not so smart. Its better to wait for a higher value.
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February 16, 2016, 03:32:50 PM

Its useful on anytime because everyone has sometimes problems with their monthly payments or something.
And if you than borrow your bitcoins you can pay them, its not always good to do but it can be good.

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February 16, 2016, 04:17:42 PM

It will take some risks with them for sure but if you really need the money you should do it.
As an example you could do it because your mother is in the hospital and cannot pay their medical bills that's a real situation where you could borrow bitcoin for.
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February 16, 2016, 04:22:05 PM

Best time to borrow is when Bitcoin's Price is High and let's just say borrowing here is " Borrow at Your Own Risk"


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hawkins
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February 17, 2016, 03:18:07 PM

bitcoin I think is better looking than borrow it, but if you really needed bitcoin, it's possible you can do. and the most appropriate time to borrow bitcoin is when the price is down, and restore it when the price is when you get profit from it. and it also can you do when you desperately need capital to run your business

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February 17, 2016, 03:30:15 PM

Its useful when you need a lot of money at once and you can not pay your bills.
You should than borrow some bitcoins and pay your bills, so it can be very handy.
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February 17, 2016, 03:40:43 PM

What I see here is that it is most useful when you have no intention of paying back the loan.  Embarrassed

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February 18, 2016, 05:23:16 PM

Its only good if you really need the money and are in real trouble because you have no money.
Borrowing has a lot of downsides because you can get in debts because of it and you always have to pay more back.

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February 18, 2016, 06:33:19 PM

It is now not so smart to borrow a Bitcoin. You know why ? Because the value is now quite low so you dont get much money for it.
You must only do if you need money for emergency. But it is better if you wait a little longer if the value is more.
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February 19, 2016, 01:36:06 AM

Its only good if you really need the money and are in real trouble because you have no money.
Borrowing has a lot of downsides because you can get in debts because of it and you always have to pay more back.
yeah I'm not going to borrow money, when I was not being pressed.
many people who do not care about this, including gambling addiction

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