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Author Topic: When is it useful to borrow bitcoin?  (Read 78531 times)
Piltover
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April 06, 2016, 02:10:42 PM
 #261

I think its useful to borrow bitcoins if you really need money, I think you should only consider this if it is really needed for as a example paying your rent.
For just borrowing I would not recommend you to do this because there can happen a lot and it also be very risky.
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knowhow
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April 06, 2016, 05:06:06 PM
 #262

Well at this forum people ask for loans to invest ,but and gambling,soo if they dont pay the colateral should be sold instant soo its a good option and a good market .
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April 06, 2016, 05:19:54 PM
 #263

the only time I would borrow Bitcoin would be to short it. 
On Poloniex it does that automatically, so I wouldn't ever go around asking to borrow Bitcoin, but I would technically be borrowing Bitcoin if I did that.

Otherwise I would just buy bitcoin if I ever needed it in a hurry.


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bitcoinisfurture
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April 06, 2016, 06:26:06 PM
 #264

the only time I would borrow Bitcoin would be to short it. 
On Poloniex it does that automatically, so I wouldn't ever go around asking to borrow Bitcoin, but I would technically be borrowing Bitcoin if I did that.

Otherwise I would just buy bitcoin if I ever needed it in a hurry.


Hey how come automatically on poloniex one can borrow?
plost24
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April 06, 2016, 07:02:01 PM
 #265

I think its useful to borrow bitcoins if you really need money, I think you should only consider this if it is really needed for as a example paying your rent.
For just borrowing I would not recommend you to do this because there can happen a lot and it also be very risky.
borrow money are a way for proffessional trader to get a good profit and then payback but the most of loaner get loan to gamble with it and they hope to have a good income but the problem is they end up losing and they don't have the fund to payback. and this isn't good.
so to borrow need to be 90% minimum of chance to have profit and maybe more and it is not for gambling.

For rent 1.4 Bitcoin for 11 months starting Feb 1 2017
knowhow
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April 06, 2016, 09:36:25 PM
 #266

the only time I would borrow Bitcoin would be to short it. 
On Poloniex it does that automatically, so I wouldn't ever go around asking to borrow Bitcoin, but I would technically be borrowing Bitcoin if I did that.

Otherwise I would just buy bitcoin if I ever needed it in a hurry.


Hey how come automatically on poloniex one can borrow?



Well just create an account and make a deposit ,then moove the money to lending put your rates accordingly to the market and wait someone will pick it and the fee will start to grow ,and when the user dont wanna anyore your ammount lended they will repay back with the fee inside,you just need to put your ammount to lend , the time and the rate soo the rest is the demand and supply that makes the market works.
DuckKeeper
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April 08, 2016, 08:35:20 AM
 #267

I think its useful to borrow bitcoins if you really need money, I think you should only consider this if it is really needed for as a example paying your rent.
For just borrowing I would not recommend you to do this because there can happen a lot and it also be very risky.
borrow money are a way for proffessional trader to get a good profit and then payback but the most of loaner get loan to gamble with it and they hope to have a good income but the problem is they end up losing and they don't have the fund to payback. and this isn't good.
so to borrow need to be 90% minimum of chance to have profit and maybe more and it is not for gambling.
You must borrow it when you are for sure that you can have some profit later with Bitcoin, otherwise it will be not useful and that is bad and you have also to be careful with some scammers there are a lot namely.
It can be risky because the bad thing is that you will never know what will happen with the value of Bitcoin.
Boosterious
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April 08, 2016, 10:05:27 AM
 #268

Well at this forum people ask for loans to invest ,but and gambling,soo if they dont pay the colateral should be sold instant soo its a good option and a good market .
yeah some people loan bitcoin for gambling,its sound weird,they have big chance to lost their bitcoin,and i never recomend to people loan bitcoins for playing gambling.

knowhow
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April 10, 2016, 01:20:42 AM
 #269

Well at this forum people ask for loans to invest ,but and gambling,soo if they dont pay the colateral should be sold instant soo its a good option and a good market .
yeah some people loan bitcoin for gambling,its sound weird,they have big chance to lost their bitcoin,and i never recomend to people loan bitcoins for playing gambling.

Well some people are addicted to the gambling and they risk their accounts that is the only thing some of them still has,others just wanna to take advantage of some bonus and ask the loan,in the end is good for both ,the interest is healthy for both.
quadriple7
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April 10, 2016, 07:52:51 AM
 #270

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.

i don't think that you should borrow bitcoins, borrowing money is usually a bad thing because most of people are greedy, and i am sure that you won't want to give money back

also you will need to give back more money than you got so if it's possible better to wait more time and buy something yourself then to borrow
ronaldinho_07
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April 10, 2016, 05:43:58 PM
 #271

Well micro loans here happens almost all days if not al days,the people gambling and do others business with the money you lend to them,sure 0,05 isnt nothing that can pay a bill or an emergency but is more then enought to gambling and take some bonus at some houses.
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April 10, 2016, 08:36:03 PM
 #272

Isn't the point that borrowing in fiat currency is so much easier and less risky than borrowing in bitcoin? Sure, there are times you need to borrow money, but then just borrow in dollars then buy the bitcoin. You probably still pay less interest even if you exchange unfavourably anyway.

CryingMidget
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April 11, 2016, 05:08:02 AM
 #273

Isn't the point that borrowing in fiat currency is so much easier and less risky than borrowing in bitcoin? Sure, there are times you need to borrow money, but then just borrow in dollars then buy the bitcoin. You probably still pay less interest even if you exchange unfavourably anyway.

Yeah It is useful if you can get a low interest rate and have a way to make more money than you are borrowing - obviously.  I don't borrow here but there are lending sites that I like to use for both borrowing and lending.
kurt14
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April 11, 2016, 08:17:28 AM
 #274

It will be useful to borrow when you really need a money for an upcoming projects and you are expecting your funds for it, it's just that it came late..That way you know that you can pay in time and with almost no extra payment for the delay...
BombayChicken
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April 11, 2016, 08:36:44 AM
 #275

borrowing bitcoin is not useful ever. I think you should think about how to earn bitcoin. and how to get bitcoin for free. but if some one give you bitcoin for 0% interest and you can't help it to borrow it. then you can borrow it.

Not like that bro! when we need money that time we use to lend the money, we have to as it is. Because bitcoins are also money. People can use bitcoin to lend and they can pay back also check the websites BTCjam, BTCpop to get a loan...
It is only useful if you are for sure that the value will rise in the future and than it is worth enough to borrow it, otherwise it is not good and you will lose money and that is bad.
So the best thing is that you are going to do it when the price is rising so you are for sure, but it is hard to know when it will rise and that is the problem of Bitcoin.
ronaldinho_07
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April 11, 2016, 02:30:17 PM
 #276

People taking loans almost all days,main purpose is gambling and trading,soo they repay in a week or two,for an interest around 10% isnt bad at all.I wont ask for a loan as my colateral would be the way i can assure the payment,signature.But sure get a 10% interest these days is great if the user repays thats the only bad thing.
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April 12, 2016, 01:54:41 PM
 #277

borrowing bitcoin is not useful ever. I think you should think about how to earn bitcoin. and how to get bitcoin for free. but if some one give you bitcoin for 0% interest and you can't help it to borrow it. then you can borrow it.

Not like that bro! when we need money that time we use to lend the money, we have to as it is. Because bitcoins are also money. People can use bitcoin to lend and they can pay back also check the websites BTCjam, BTCpop to get a loan...
It is only useful if you are for sure that the value will rise in the future and than it is worth enough to borrow it, otherwise it is not good and you will lose money and that is bad.
So the best thing is that you are going to do it when the price is rising so you are for sure, but it is hard to know when it will rise and that is the problem of Bitcoin.
You never know when the value will rise, if you are borrowing some Bitcoins than the chance will be also that you can lose some money with it and that would be bad for you.
So you must do it when the price is already rising so you have the higher chance for profit.
Piltover
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April 12, 2016, 09:35:49 PM
 #278

borrowing bitcoin is not useful ever. I think you should think about how to earn bitcoin. and how to get bitcoin for free. but if some one give you bitcoin for 0% interest and you can't help it to borrow it. then you can borrow it.

Not like that bro! when we need money that time we use to lend the money, we have to as it is. Because bitcoins are also money. People can use bitcoin to lend and they can pay back also check the websites BTCjam, BTCpop to get a loan...
It is only useful if you are for sure that the value will rise in the future and than it is worth enough to borrow it, otherwise it is not good and you will lose money and that is bad.
So the best thing is that you are going to do it when the price is rising so you are for sure, but it is hard to know when it will rise and that is the problem of Bitcoin.
You never know when the value will rise, if you are borrowing some Bitcoins than the chance will be also that you can lose some money with it and that would be bad for you.
So you must do it when the price is already rising so you have the higher chance for profit.

Yes that would be good but I still think it has a lot of risks because its the bitcoin at first sight plus borrowing itself is pretty risky, the bitcoin itself is worth a lot and I think you should only do this when you are in real trouble, not just because you need something that you want to buy..
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April 15, 2016, 03:14:01 PM
 #279

It is only useful when you are for sure that you can have some profit with it and that is hard to know it from before but you have to take some risks with Bitcoin otherwise it will be not possible.
Bitcoin is hard to predict and that is because it is always changing so you almost never know what to do with Bitcoin but around this time you see that the value keeps stable.
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April 15, 2016, 03:34:17 PM
 #280

It is only useful when you are for sure that you can have some profit with it and that is hard to know it from before but you have to take some risks with Bitcoin otherwise it will be not possible.
Bitcoin is hard to predict and that is because it is always changing so you almost never know what to do with Bitcoin but around this time you see that the value keeps stable.
I also think this can be good but the fact is that its never guaranteed that you will make money with it because the bitcoin is also unpredictable.
If you  made the wrong choice you will have no money and also are in debt by someone...
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