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Author Topic: When is it useful to borrow bitcoin?  (Read 77567 times)
bct-user
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October 05, 2015, 06:07:06 PM
 #41

if you asking When is it useful to borrow bitcoin?, the answer is when the btc price decresased until 200$ and wait btc to the moon, just simple thing, and to invest or anything

the problem is when the price is decreased and increased. loan is need a time expired days to pay back, also you need to use a collateral with the amount is equal with your amount to want to loan. my opinion is investing in bitcoin with amount of loan is bad idea.
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October 05, 2015, 07:46:36 PM
 #42

I can imagine some gambling addicts want quick bitcoins to use on dice.
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October 06, 2015, 12:45:59 AM
 #43

I can imagine some gambling addicts want quick bitcoins to use on dice.

Yea but if you lose you need to pay back your creditor, and where will you get that money from?

In bitcoin the max loan term is like 1-2 weeks, you need some outside income to pay it back.

Not recommended!

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October 09, 2015, 11:49:49 AM
 #44

when I have a chance like trading, then I will do the borrowing and earn profits from trading

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October 09, 2015, 01:59:56 PM
 #45

someone experienced many problems in trading. I chose gambling because there we will get rich quick.
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October 09, 2015, 06:46:45 PM
 #46

when I have a chance like trading, then I will do the borrowing and earn profits from trading

too risky if you still beginner level in trading(but if you an expert in trading, you will not to do a borrowing Roll Eyes), better to use your money, or if you have nothing, go work, earn bitcoin and do a trading.

someone experienced many problems in trading. I chose gambling because there we will get rich quick.

also, you can lose easily. you can't payback if you lose everything.
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October 10, 2015, 12:29:14 AM
 #47

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.  I meet people there that I trust.  One good one is LoanBase.

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October 10, 2015, 03:04:41 AM
 #48

also, you can lose easily. you can't payback if you lose everything.

yes I understand it all. I am willing to take that risk. I am a risk-taker.
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October 10, 2015, 04:30:25 PM
 #49

I think borrowing Bitcoin have to be always the last choice, we have to try our best to earn Bitcoin with legal ways like selling goods and services, trading, investing in some trusted programs...
But if the loan is necessary we can borrow from this forum's members, offering valid collateral and using trusted escrow, so it works

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October 11, 2015, 01:04:42 PM
 #50

borrowing bitcoin is when you need it for something important

but also you must have backup sources to pay your loan..think before doing something...usually gambler is not recommended to apply loan..

because borrowing bitcoin for gambling sounds not good.

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October 12, 2015, 07:57:56 AM
 #51

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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October 13, 2015, 11:07:48 AM
 #52

when you know that there is a sporting event and you can bet on it,, and you are sure you will win



.
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October 13, 2015, 11:49:10 AM
 #53

Why didn't you try borrowing in a site, like BTCJam?
Your problem would be solved Cheesy Cheesy
I don't want to involve myself in that scam site.
maybe if you have some friends who use bitcoin you can borrow it. I also borrow to my friends, compared borrow in lending site.
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October 14, 2015, 01:04:15 PM
 #54

when you know that there is a sporting event and you can bet on it,, and you are sure you will win

basically when you're risking money every time, but personally i would take it only if i need money desperately to solve a problem in real life

but if you're talking about trading also, i would go with leverage yes, in that case...
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October 15, 2015, 05:03:01 AM
 #55

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.

Agreed with your suggestion.
Sometimes some people "really" need a loan for their business idea or for their life.
Here, they need to find trusted escrow, and give their profile or proposal transparent and publicly to all lenders.

With this methods, maybe they can find a nice lenders who want give loan with small interest in months.
Not all lenders nice about interest per month or year, some shark loan even give 15% + for 1 month.

Actually it's not help their problem, instead ut's make new big problem with loan matter.
Careful to choose your lenders.


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October 15, 2015, 12:06:28 PM
 #56

when you know that there is a sporting event and you can bet on it,, and you are sure you will win

Personally I don't recommend such doings, but you cant really avoid that so before taking a loan and use that for gambling , just make sure you're not going to promise to repay if you'll earn profit with gambling. Repay with your own money from your salary Wink

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October 29, 2015, 03:19:15 AM
 #57

I don't know how to borrow a bitcoin.
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October 29, 2015, 03:21:57 AM
 #58

I don't know how to borrow a bitcoin.
Go to the lending section and offer collateral.

IMHO, it isn't practical to borrow Bitcoin if you're going to spend it in fiat. It would be affected by the volatility. If you are buying something that is BTC in value and you can't go to exchange for more BTC, it would be more practical I guess.

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November 01, 2015, 07:25:57 AM
 #59

I don't know how to borrow a bitcoin.

go to lending section on this forum, you should provide a purpose why you want to borrow bitcoin, and the collateral is must be equal as amount you want to borrow.
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November 04, 2015, 09:36:04 PM
 #60

I've loan people on this forum before, and there had been people who just ran away. I usually keep their accounts or other accounts they have as collateral. I believe this is the most secure way to borrow and lend btc here.

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