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Author Topic: When is it useful to borrow bitcoin?  (Read 77569 times)
Indrawan77
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March 23, 2016, 12:03:15 AM
 #221

It becomes useful when you already know what you want to do with then bitcoin you have, or maybe you already predict bitcoin price is going to raise but you lack of capital to invest

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Erzatium
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March 24, 2016, 01:43:52 PM
 #222

It becomes useful when you already know what you want to do with then bitcoin you have, or maybe you already predict bitcoin price is going to raise but you lack of capital to invest

If you would borrow bitcoin and expects the price to rise, I'm afraid that you won't profit from it as you will be paying the same amount of bitcoin then add up the interest... perhaps if the agreement would be you will borrow bitcoin and you will pay your loan with dollars.. That way I think you will profit.
Yes you are right. But the bad thing is that you never know what is going to happen with the value of Bitcoin and that is the problem.
It is a currency and you will never know what the value will be next week or next month.
So you must take risks to make an action.
Hirose UK
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March 24, 2016, 11:52:25 PM
 #223

of course when bitcoin price is going really down!
borrow it,and keep it until the price normal rhigher
lol, that's great idea, seriously.
but sometimes life doesn't go the way you plan. maybe when the price is down, you have much bitcoin so you don't need to borrow.
so I think the best time to take loan is when you need to buy something with bitcoin and you don't have money for it.

buy I extremely don't suggest to borrow bitcoin on website or people who you don't know exactly.

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March 26, 2016, 03:36:35 PM
 #224

Borrowing of bitcoin is needed only at times we have assured return of profit within a fixed limit. Else borrowing would let you pay interest without any use.

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March 27, 2016, 12:50:20 AM
 #225

Well my last lendings has turned into defaulted,these days are getting harder to deal with people really need the loan,usually members and full members accounts are forcing the sell of their accounts,but some of us still being able to profit either lending or selling the accounts from the loans.
Ulloa
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March 27, 2016, 03:09:45 PM
 #226

It will be useful when you are for sure that it will happen soon in the future, but it is hard to know because you never know what will happen with the future for Bitcoin.
So you must take some risks if you want to make some profit with it, the bad thing is that you also can lose some money.
You will lose money if the value is going to fall.
ronaldinho_07
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March 28, 2016, 05:55:59 PM
 #227

Well i like poloniex system of lending i got my fee before the user be able to withdraw any pennie from it soo i believe this should had happened before btcjam were we had been scammed more then once,atleast i were.
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March 28, 2016, 10:46:43 PM
 #228

For me bitcoin is like money, so when you ask me when is it useful to borrow bitcoins is same like you ask me when is useful to borrow money. Correct  answer would be never, I dont know about other but in my city everyone owe money to someone (mostly to banks).
When you borrow bitcoins or money you need to know how will you return that. You need to calculate all possible risks. If you just borrow without any plan how to return that, or to expect how you will make more and then return its a trick. You will just fall in bigger hole.

AsaroUk
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March 29, 2016, 09:18:16 AM
 #229

For me bitcoin is like money, so when you ask me when is it useful to borrow bitcoins is same like you ask me when is useful to borrow money. Correct  answer would be never, I dont know about other but in my city everyone owe money to someone (mostly to banks).
When you borrow bitcoins or money you need to know how will you return that. You need to calculate all possible risks. If you just borrow without any plan how to return that, or to expect how you will make more and then return its a trick. You will just fall in bigger hole.
Yes so the best thing is when you are borrow some Bitcoins that you must know for sure that you can make some profit with it.
Otherwise it wont be good and than you can also lose some more money and that is very bad, but it is better not to borrow.
And just make self an investment.
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March 29, 2016, 09:36:23 AM
 #230

Borrowing can be done to gamble. If you're lucky you will get a good earning else need to pay back with interest for the borrowed money.

a7mos
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March 29, 2016, 09:39:18 AM
 #231

borrowing bitcoin may be useful to the borrower if the price dropped after he get the loan. then when he repay he will pay less equivalent in fiat. but it is not possible to predict the price movement accurately
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March 29, 2016, 09:49:13 AM
 #232

Shorting bitcoin. Basically when you think the price is about the go down, you borrow some bitcoins and sell them. Then you buy the same amount of bitcoins at lower price and return them to your lender. The difference between the selling price and the buying price is your profit.
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March 29, 2016, 04:36:28 PM
 #233

I do prefer to borrow only in the emergency situation. Bitcoins are highly helpful to handle pressureful times. However, one should have a desire to pay it back in time. Otherwise, I won't borrow to trade or gamble.

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ronaldinho_07
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March 30, 2016, 02:52:58 AM
 #234

Well lending bitcoin here may be profitable since you can get some good accounts and resell them even more expensive the loan you gaved,people that force the sale doing this,applying for loans,dont know how to deal with their accounts,as they usually wanna the money instant.
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March 30, 2016, 10:21:27 AM
 #235

For needy people it is really impossible to get loan here at this forum.
But one of the reason for it is to stay away from scammers.

if it is possible, there should be a system in which the persons will have to sign a government stamp paper in this way no one will scam, as with this government will be responsible to order the rule.

but there is another problem, if a person get loan in bitcoin, and at that time the bitcoin price increase then he will face the lose in form of payng double.

So loan with bitcoin is a risk until the price become stable


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BruceLee007
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March 30, 2016, 11:02:12 AM
 #236

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.

well i think that it is never a good idea to borrow bitcoins because i think that you need to give amount in bitcoin not in usd so you can't borrow bitcoins and wait for price rise for profit, if you'll find someone that wants get money in usd then it's useful to borrow for profit
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March 30, 2016, 11:12:35 AM
 #237

if you are 101% sure bitcoin will go down Smiley

ronaldinho_07
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March 30, 2016, 01:19:56 PM
 #238

Well some people like to protect themselfes when requesting a loan ,if the money lended were worthing 25 they wanna 27dollars instead to ask the 10% in bitcoins,i like to play with bitcoin being worth more or less i dont care,i would just like to get the bitcoins.
YoonYeonghwa
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March 31, 2016, 10:27:28 AM
 #239

When is it useful to borrow bitcoin? Well, when you have cashbacks on primedice or some other very good deal where you can get a very good deal in something like gambling, and you have a 50 percent chance to double your money and then make a net profit of like 90% (200%-110%, which is basically the normal loan repayment rate), and a 50 percent chance to lose only 10 percent of whatever you borrowed. This is a good deal, and has a high profit and low loss rate.

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April 01, 2016, 03:03:24 PM
 #240

if you are 101% sure bitcoin will go down Smiley

I was thinking about your suggestion, wasn't it the reverse that we should do? If you borrow bitcoin and the price drops, then you have no profit from it, but you can buy bitcoin with fiat in lower price if that's your idea, but I think that's not practical to borrow bitcoin and later on you will invest your fiat just to pay someone..
It is only good to borrow a Bitcoin if you are for sure that the value will rise in the future and that you can get some profit with it, otherwise it will not be useful.
And the other problem is that you dont know what will happen with the value and that you have to take risks.
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