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Author Topic: When is it useful to borrow bitcoin?  (Read 78113 times)
BlueStackz
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June 16, 2016, 02:00:24 PM
 #461

Borrow 0.1 worth $70 now,  and payback later when the price go down to 0.1 worth  $40-$50 . Is it give you an advantage and very useful too right? But it is rarely happened.

So maybe the correct answer are you may get a loan with high rate and  pay it back in less rate.

in fact some week ago people borrow 0.1 ($50) and now he repay 0.11 ($77) so he lost arround $27, maybe you can borrow 0.1 bitcoin now with rate $700 and you will repay at price $1000  Cheesy
It is of course risky if you are borrowing your Bitcoin and that is because you dont even know what will truly happen in the future so that is risky.
But it should be nice if you can earn some money with it later but you cant control it so that is bad.

Because of the risk I also do not recommend you to borrow any bitcoin, it can let you lose a lot of money plus you can also get scammed.
Overall I find it too risky to do, maybe with a sort of service it can be done with some security.
Yes lending bitcoin is never a good idea as you never know who is the original person due to the anonymity levels of bitcoin. IMO it is very risky to lose your money so its better to avoid such activities.

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June 16, 2016, 04:03:26 PM
 #462

Borrow 0.1 worth $70 now,  and payback later when the price go down to 0.1 worth  $40-$50 . Is it give you an advantage and very useful too right? But it is rarely happened.

So maybe the correct answer are you may get a loan with high rate and  pay it back in less rate.

in fact some week ago people borrow 0.1 ($50) and now he repay 0.11 ($77) so he lost arround $27, maybe you can borrow 0.1 bitcoin now with rate $700 and you will repay at price $1000  Cheesy
It is of course risky if you are borrowing your Bitcoin and that is because you dont even know what will truly happen in the future so that is risky.
But it should be nice if you can earn some money with it later but you cant control it so that is bad.

Because of the risk I also do not recommend you to borrow any bitcoin, it can let you lose a lot of money plus you can also get scammed.
Overall I find it too risky to do, maybe with a sort of service it can be done with some security.
Yes lending bitcoin is never a good idea as you never know who is the original person due to the anonymity levels of bitcoin. IMO it is very risky to lose your money so its better to avoid such activities.

It can be good but I myself would never do this because it has some risks that really can let you lose money.
I would find another way to make money or something.
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June 16, 2016, 10:31:59 PM
 #463

Borrow 0.1 worth $70 now,  and payback later when the price go down to 0.1 worth  $40-$50 . Is it give you an advantage and very useful too right? But it is rarely happened.

So maybe the correct answer are you may get a loan with high rate and  pay it back in less rate.

in fact some week ago people borrow 0.1 ($50) and now he repay 0.11 ($77) so he lost arround $27, maybe you can borrow 0.1 bitcoin now with rate $700 and you will repay at price $1000  Cheesy
It is of course risky if you are borrowing your Bitcoin and that is because you dont even know what will truly happen in the future so that is risky.
But it should be nice if you can earn some money with it later but you cant control it so that is bad.

Because of the risk I also do not recommend you to borrow any bitcoin, it can let you lose a lot of money plus you can also get scammed.
Overall I find it too risky to do, maybe with a sort of service it can be done with some security.
Yes lending bitcoin is never a good idea as you never know who is the original person due to the anonymity levels of bitcoin. IMO it is very risky to lose your money so its better to avoid such activities.

It can be good but I myself would never do this because it has some risks that really can let you lose money.
I would find another way to make money or something.

There are a lot of other options in my eyes, borrowing is not the recommend one its indeed risky.
You can better find another method and the fact is also that if you want to do this you should have full details of someone..
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June 17, 2016, 07:15:28 AM
 #464

Around this time it will be not that smart if you are going to borrow it now around this time and that is because the value of Bitcoin isnt that low and it keeps rising.
So it will be hard to make profit with it and that is difficult now indeed but maybe later in the future it will be possible.
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June 17, 2016, 10:28:18 AM
 #465

when you need money but you don't want to sell your collateral
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June 17, 2016, 12:53:28 PM
 #466

when you need money but you don't want to sell your collateral

Well this is quite somehow a good reason, but the thing is how you are going to use your borrowed money.
It is just useful I guess if you are desperate needed for money.



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June 17, 2016, 03:25:04 PM
 #467

What people already said if you really need the money it can be worth it but if you do not need any money why would you do this..
Borrowing has a lot of risks and there can go a lot of things wrong.
Bitcoin will not going down soon and that is because you have to take a look at it, you can now see that the value of Bitcoin will be more worth so that would be really nice for people who already have Bitcoin.
But the bad thing is that you cant even know what will happen later in the future and that is the problem with Bitcoin.
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June 17, 2016, 10:31:59 PM
 #468

Borrow 0.1 worth $70 now,  and payback later when the price go down to 0.1 worth  $40-$50 . Is it give you an advantage and very useful too right? But it is rarely happened.

So maybe the correct answer are you may get a loan with high rate and  pay it back in less rate.

in fact some week ago people borrow 0.1 ($50) and now he repay 0.11 ($77) so he lost arround $27, maybe you can borrow 0.1 bitcoin now with rate $700 and you will repay at price $1000  Cheesy

When borrowing the bitcoins, one should not convert it in USD and see whats the difference in Prices.Bitcoin should be borrowed to use directly as bitcoin and should not be converted in FiaT or USD. This way your loss will be minimal . Although you will have to pay interest on borrowing bitcoins.

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June 17, 2016, 10:39:42 PM
 #469


Borrow 0.1 worth $70 now,  and payback later when the price go down to 0.1 worth  $40-$50 . Is it give you an advantage and very useful too right? But it is rarely happened.

So maybe the correct answer are you may get a loan with high rate and  pay it back in less rate.

in fact some week ago people borrow 0.1 ($50) and now he repay 0.11 ($77) so he lost arround $27, maybe you can borrow 0.1 bitcoin now with rate $700 and you will repay at price $1000  Cheesy
Yeah i experience this too i loan and repayment it with 1% interest and now i payed it right now with the same price right now i am regret because the price of bitcoin right now is high..

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June 18, 2016, 01:29:56 AM
 #470

Well if you're experienced with stock trading, borrowing money is done when you think the market will go down. What you do is borrow Bitcoin and then immediately sell it expecting the price to go down. Then you wait however long until you need to pay back your loan and then buy the Bitcoin back. If the price of it dropped, congratulations you just earned yourself some profit by shorting the market. I do not recommend this. It is at your own risk and never default on a loan. This is for informational purposes only.
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June 18, 2016, 11:32:51 PM
 #471

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.
Honestly, seriously consider not taking a loan unless the item you want to buy is close to the money you currently have and you can pay back almost immediately, to avoid several problems of which i will list a few
First off, i personally wouldn't trust this forum at all as no safety checks that banks provide are in place, secondly, the interest rate will be huge so if you can't pay back the SMALL amount immediately you will probably be in a worse state than when you started, please be careful

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June 18, 2016, 11:34:53 PM
 #472

I don't think it is ever useful to borrow Bitcoin.
If you borrow from this site, to get anything good, you need to be of a high rank.
At which rank, you can earn a lot more from signature campaign than from borrowing.
You also risk changes in exchange rates and damages to systems that you are using which must be taken into consideration.

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June 19, 2016, 09:35:26 PM
 #473

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.
Seriously think about what you're about to do, as lending is far often definitely not worth the deal you're getting yourself into, consider loaning only if you fit into the following categories
The thing you want is only just out of your price range, quite cheap, and the interest rate from the place youre lending it isn't too harsh


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June 19, 2016, 09:52:36 PM
 #474

Borrow 0.1 worth $70 now,  and payback later when the price go down to 0.1 worth  $40-$50 . Is it give you an advantage and very useful too right? But it is rarely happened.

So maybe the correct answer are you may get a loan with high rate and  pay it back in less rate.

in fact some week ago people borrow 0.1 ($50) and now he repay 0.11 ($77) so he lost arround $27, maybe you can borrow 0.1 bitcoin now with rate $700 and you will repay at price $1000  Cheesy

When borrowing the bitcoins, one should not convert it in USD and see whats the difference in Prices.Bitcoin should be borrowed to use directly as bitcoin and should not be converted in FiaT or USD. This way your loss will be minimal . Although you will have to pay interest on borrowing bitcoins.

You are right, or maybe there are some borrowers that borrows bitcoin if the price is still low and they are going to get profit just for holding it.
And after holding and if the price increases they are going to get some profit from it and they are going to pay it.
I think it is somewhat useful.

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June 20, 2016, 06:59:05 AM
 #475

You have to be for sure that you can make some profit and that is the most important thing and maybe this will be not the right time to do it because the value is rising.
And you have to know that you need some patience for it and that you must not lose any money with it otherwise it is sin.
maudevang
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June 20, 2016, 07:31:53 AM
 #476

The best time for you to invest into bitcoins is when the next drop is coming. I think that he will drop not such many as last drop but for sure you will need to invest that time.
RobinHoodster
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June 20, 2016, 07:39:25 AM
 #477

You have to be for sure that you can make some profit and that is the most important thing and maybe this will be not the right time to do it because the value is rising.
And you have to know that you need some patience for it and that you must not lose any money with it otherwise it is sin.

I also would not do this, its not even worth it in my eyes you can better now just hold the bitcoin for a while to make some good profits.
Patience is required with every invest of course.
DuckKeeper
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June 20, 2016, 08:21:44 AM
 #478

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.
Yeah when is it usefull to borrow bitcoin i think it is not really profitable to borrow them now because the price is to high for now.
avw1982
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June 20, 2016, 09:34:20 AM
 #479

The best time for you to invest into bitcoins is when the next drop is coming. I think that he will drop not such many as last drop but for sure you will need to invest that time.

I think borrowing is just bad in the overall btc 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...
MaxTax
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June 20, 2016, 09:52:32 AM
 #480

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.
Yeah when is it usefull to borrow bitcoin i think it is not really profitable to borrow them now because the price is to high for now.
You are 100% right if you are gonna borrow some bitcoins right now you will not make a lot of profit and the fact is holding is now way better compared with other methods.
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