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Author Topic: When is it useful to borrow bitcoin?  (Read 77564 times)
BeGoods
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March 12, 2016, 03:30:02 PM
 #201

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its  no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I think borrowing should be done in real life, so no borrowing is not a good reason to borrow.
I  honestly can't find a good reason to loan money.

Having debts is a pain in the ass. If you don't have the money, then don't spend it. Live by that.
if you want to borrow money for reason "do not have the money". I think it's better not owe. You would not be able to pay it and you'll end up in jail. unless you have a business idea. You can borrow money for capital. certainly investor or lender will give you a long period of time and you can get profit on there


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March 12, 2016, 04:36:21 PM
 #202

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its  no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I think borrowing should be done in real life, so no borrowing is not a good reason to borrow.
I  honestly can't find a good reason to loan money.

Having debts is a pain in the ass. If you don't have the money, then don't spend it. Live by that.
if you want to borrow money for reason "do not have the money". I think it's better not owe. You would not be able to pay it and you'll end up in jail. unless you have a business idea. You can borrow money for capital. certainly investor or lender will give you a long period of time and you can get profit on there

Yeah, well, with bitcoin there's more anonymity associated with your addresses. They won't be able to find out who you are if you're unable to repay the debts. That's why there's so many scammers in the loan subsection.
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March 12, 2016, 06:42:43 PM
 #203

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its  no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I think borrowing should be done in real life, so no borrowing is not a good reason to borrow.
I  honestly can't find a good reason to loan money.

Having debts is a pain in the ass. If you don't have the money, then don't spend it. Live by that.
if you want to borrow money for reason "do not have the money". I think it's better not owe. You would not be able to pay it and you'll end up in jail. unless you have a business idea. You can borrow money for capital. certainly investor or lender will give you a long period of time and you can get profit on there

I agree. Borrowing money from someone IRL would ideally be the best way to avoid getting scammed. Some people no not have a credit card or a line of  credit and they have no other source to go to other than this place or BTCJam, but then the lender always gets ripped off.

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March 13, 2016, 05:54:06 PM
 #204

Btjam is the best example of something you should follow,there are 90%scamers inside it and 10% honest members being lending or asking for the loan,that said you should avoid it if you wanna some kind of interest on the lending side.Here you can profit from the lending service that is being offered by a group of people,some are making a good income with this ,but taking the lower risk,since they usually works with colateral.
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March 14, 2016, 11:44:39 AM
 #205

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.
when i need urgent cash money,i more easy and comfort to borrow bitcoin and trade it into cash money,and its happen when i need bitcoin,i do same way. yu have better borrow bitcoin when you need to trade altcoin,and then make sure you will pay it as promised.

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March 14, 2016, 05:47:52 PM
 #206

Its smart to do that when the value is low. It is not a good time now to do it. Because the value is not low.
So you have to wait. For a long time I think. Because the value will rise soon and that is very good for those people who already has made an investment.
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March 18, 2016, 12:13:56 PM
 #207

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.

if you can live without it, then better don't take it, because first of all, it's very hard to find trustful loaner and not a scammer, and second you will have to give back more, maybe pay for escrow too,  so it's not worth it if you don't need it a lot, better wait month and then get what you want
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March 18, 2016, 10:45:46 PM
 #208

Well usually here the most request from low ranks accounts are directed to force the sell off the account others just to gambling.The big accounts requests can be used to pay some extra bill ,or some emergency that appeared,soo they pay the interest according the ammount sure its a profitable market ,but only working with reputation members ,otherwise you will be sponsor just others with your coins.
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March 19, 2016, 12:33:24 AM
 #209

Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.
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March 19, 2016, 07:12:09 AM
 #210

Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.
borrowing bitcoin is considered useful if it helped you in someways that is very important, example is if you need it to renew a domain, renew an account, pay for something that is important to you like utilities or house rent or monthly amortization
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March 20, 2016, 05:43:47 AM
 #211

Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.
if you borrow at the lending section. You can choose its own fee charges. maybe 10% or 5% many people will give you the loan if reasonable. you can custom own expense fee


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March 20, 2016, 02:50:01 PM
 #212

Well you can choose the income you wanna to have on the loan but the question is will the member repay the loan.
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March 20, 2016, 03:36:19 PM
 #213

Well you can choose the income you wanna to have on the loan but the question is will the member repay the loan.

There is a risk involved and if you loan to a jr. member or newbie the risk is the same as gambling. Even if you have some collateral you should make sure you can sell it for the min. value of the loan + some interest else you will keep on spending time without that you get anything back.
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March 20, 2016, 03:45:06 PM
 #214

The best reasons to loan BTC would be just like any commodity. Business venture, business startups, or investment opportunities. Maybe you need a load for a new car or even a house ? Many many reasons, anything really.

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March 20, 2016, 05:47:11 PM
 #215

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its  no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I second this. Borrowing has too many ways to go wrong.
Even in real life, many people borrow cash and just disappear from your life.
You can only borrow to someone you trust 100%.
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March 21, 2016, 08:34:24 AM
 #216

Its mostly useful to borrow bitcoins when you really need them, I would not recommend it but its an option if you need money.
I think its also not good because you would pay high fee's in my opinion.
if you borrow at the lending section. You can choose its own fee charges. maybe 10% or 5% many people will give you the loan if reasonable. you can custom own expense fee
Indeed. But you must also know that the value must rise later in the future and that is the most important thing.
Otherwise you will lose more money and that will be very bad. I hope that more people will do it and that the most people also get some profit.

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March 21, 2016, 01:08:48 PM
 #217

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its  no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I second this. Borrowing has too many ways to go wrong.
Even in real life, many people borrow cash and just disappear from your life.
You can only borrow to someone you trust 100%.
agree with you many fraudsters who use loans to deceive. so better lend someone who have you believe. and do not forget to collateral that have worth should be higher than the amount borrowed


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March 22, 2016, 04:07:03 PM
 #218

Borrowing is possible with the bitcoin these days but if I recommend it, no I would not recommend this at all.
There are too many things that can go wrong and its also that its  no so easy to pay it back, in debt with the bitcoin, no I do not like it.

I second this. Borrowing has too many ways to go wrong.
Even in real life, many people borrow cash and just disappear from your life.
You can only borrow to someone you trust 100%.
agree with you many fraudsters who use loans to deceive. so better lend someone who have you believe. and do not forget to collateral that have worth should be higher than the amount borrowed
U must borrow it when the value is quite low. That is the best option, than you will have a higher chance to get some profit.
But you need also some patience that is also very important, otherwise you will lose some money and that will be not good.
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March 22, 2016, 05:58:55 PM
 #219

Borrowing is just bad in the overall experience in my opinion, if you borrow someone some bitcoins this can have real problems because its not so easy to getting them back if someone is not helping you.
I would not recommend you to do this because there are too many risks in my opinion, it can go wrong in a lot of ways.

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March 22, 2016, 10:01:21 PM
 #220

Is it possible to borrow but be careful, to who you are borrowing to because it can be very dangerous.
Due to the point some people just want to scam you and never give it back.


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