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Author Topic: When is it useful to borrow bitcoin?  (Read 78115 times)
Jmild1
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July 17, 2016, 03:22:18 PM
 #561

I think the right moment to borrow bitcoin is, if we are in need of money for unexpected needs such as illness. Or purchase goods online, but the goods are really needed and can not be postponed to buy it. for investment I prefer to use my own money

Yeah, that's right, we should borrow money on those emergencies, and purchasing goods that are needed to earn, or if it is part of our workhorse such as memory module of your computer, but I think it is also good to borrow money if we are going into investment, but just make sure that you know the investment very well and the investment has a good record and you know you could pay the money on time and with interest aside from your profit..  Wink
You can also borrow bitcoin when on it's high price so once the price dropped. You can pay it with lower price making you pay a little than what you should be paying.

That's right, if you know when it was at its peak and you know that it is just an artificial growth, then better borrow and wait for the price to subside, that way you're going to pay lesser, but now, I do notice that some investors compute what you borrow in dollars...



yeah dude, I think if you know the ins and outs of investing that will follow then borrow money to invest I think it could be tried. But I think it is too risky, and even if it is done to be a lot of considerations about the reserve investment income if we did not run smoothly because of the above debt remains a debt, right? Smiley

That is why you have to look for those reputable investment schemes or those that has a good feedback from the community...That way, you know that the risk is lower...
It is like trading but because you don't have the funds to trade you just take a loan and pay it with low value. But just as what you said, the rate should be in dollars.
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July 17, 2016, 03:50:38 PM
 #562



yeah i know we have to be very clever to analyze before we invest there. but in my opinion it's better to invest the money that is ready to disappear, in other words if the money is gone you will be ready and unencumbered. Because we know even if we can minimize the risk, but in the investment world still big risks. And I think if you invest with borrowed money it is still wrong, because the loan money is not money that is ready to disappear. Thank you Smiley

Well, it's your perception about investment and borrowing your capital, and I think it means you are not yet ready to invest or have been rubbed by those investment scams or haven't tried getting a loan and tried to invest it and earn a profit..  Smiley but it's good, that way you are free from debts and being scammed..  Wink

yeah dude, because I am relatively new in the world bitcoin so do not dare to try to borrow money and use it to invest. And you are right I try to avoid such crimes. But thanks Smiley

If you can avoid borrowing bitcoins early as you can and that is better. Because for me borrowing is a matter of trust. And if you are not sure that you are going to pay it on time so it is better that not to borrow at all.
It is just useful if you are really in need.

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July 24, 2016, 01:47:59 PM
 #563

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 really want loan then you can ask from legendary ranker or btc company manager here.you will still need
Asset as medium.

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July 24, 2016, 02:05:15 PM
 #564

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, loans are still being defaulted even they are getting done with help of escrows and good collateral. but the scammers still default the loans because they have to do it.
there are lots of hackers who hack high quality and reputed accounts and take loans with them. and then default the loan,

If you really want loan then you can ask from legendary ranker or btc company manager here.you will still need
Asset as medium.

not only a legendary ranker. you can ask for laon if you have any type of good collateral. the thing is collateral not the rank of the account.
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July 24, 2016, 02:32:34 PM
 #565

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 still think that you should never borrow bitcoins as you will have to give them back just you will have to give more than you got so it's not  worth it

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July 24, 2016, 04:20:35 PM
 #566

I kniw that bitcoin is anonymously cryprocurrency but i think that it should be creating some system which will give acess to police to arrest peoples which take loan and run away and add some bank system to give 100% chance that person who give loan will get money back +%.Like example if deal isnt respected banks can take money from boy which ask for loan and dont want to give back money +%.
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July 25, 2016, 02:09:59 PM
 #567

I kniw that bitcoin is anonymously cryprocurrency but i think that it should be creating some system which will give acess to police to arrest peoples which take loan and run away and add some bank system to give 100% chance that person who give loan will get money back +%.Like example if deal isnt respected banks can take money from boy which ask for loan and dont want to give back money +%.

in fact bitcoin is not a true anonymously currency, people can trace your transaction, people can see your balance, you must see the fact about bitcoin, read more at here : http://www.bitcoinisnotanonymous.com/ , https://bitcoin.org/en/you-need-to-know

i think take loan at real life in bank is good idea, in my country you can loan $2000 with interest only 5% for 2years, but you must have a bussines and "higher value collateral"
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July 25, 2016, 02:19:42 PM
 #568

Best advice. Stay away from bitcoin lending. It is not regulated at all and open to all kind of abuses.
I can't imagine a real life situation where I would desperately need to borrow a BTC from someone I don't know.
Our lending section is mainly  filled with gamblers who lost all their money and desperately need another boost for their gambling activities.
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July 25, 2016, 09:45:20 PM
 #569

I don't think people should borrow bitcoin at all.

Just borrow fiat from your bank and fiat to btc.
That is right boss maybe they can make loan in bank or approach people to buy money from them. Trust now is difficult to give in people you did not even know so its hard to borrow bitcoin even you have collateral. So much better borrow money in person that you know or go to bank and ask loan.

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July 26, 2016, 01:07:01 AM
 #570

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 still think that you should never borrow bitcoins as you will have to give them back just you will have to give more than you got so it's not  worth it

Yes that is really not worth it at all if you are going to borrow bitcoins, you are going to pay the same amount plus interest. So, for me it is not useful if you are going to borrow bitcoins without a valid reason. But mostly people are just borrowing bitcoins in order to satisfy their gambling needs,
so that is really not useful.

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July 26, 2016, 07:18:13 AM
 #571

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 still think that you should never borrow bitcoins as you will have to give them back just you will have to give more than you got so it's not  worth it

Yes that is really not worth it at all if you are going to borrow bitcoins, you are going to pay the same amount plus interest. So, for me it is not useful if you are going to borrow bitcoins without a valid reason. But mostly people are just borrowing bitcoins in order to satisfy their gambling needs,
so that is really not useful.

Borrowing is not solution and it ws just an envy to those people they see another people whos getting a lot of money on their doings and borrowing money is not really good idea since it can make your life miserable without noticing it little by little the only thing good on barrowing when it is fresh and when its gone well people who lend became pathetic and that can turn them down thats why dont borrow money if its not really important.

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July 26, 2016, 07:47:16 AM
 #572

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 still think that you should never borrow bitcoins as you will have to give them back just you will have to give more than you got so it's not  worth it

Yes that is really not worth it at all if you are going to borrow bitcoins, you are going to pay the same amount plus interest. So, for me it is not useful if you are going to borrow bitcoins without a valid reason. But mostly people are just borrowing bitcoins in order to satisfy their gambling needs,
so that is really not useful.

Borrowing is not solution and it ws just an envy to those people they see another people whos getting a lot of money on their doings and borrowing money is not really good idea since it can make your life miserable without noticing it little by little the only thing good on barrowing when it is fresh and when its gone well people who lend became pathetic and that can turn them down thats why dont borrow money if its not really important.

Borrowing money is okay when it comes that there are emergencies or you really need those fund on important things, that thing would be consider but remember always that you must pay your loan so that you can borrow again to the same person. Dont make your loan big or else  you wont able to pay them.


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entrepmind23
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July 26, 2016, 07:49:55 AM
 #573

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 still think that you should never borrow bitcoins as you will have to give them back just you will have to give more than you got so it's not  worth it

Yes that is really not worth it at all if you are going to borrow bitcoins, you are going to pay the same amount plus interest. So, for me it is not useful if you are going to borrow bitcoins without a valid reason. But mostly people are just borrowing bitcoins in order to satisfy their gambling needs,
so that is really not useful.

Borrowing is not solution and it ws just an envy to those people they see another people whos getting a lot of money on their doings and borrowing money is not really good idea since it can make your life miserable without noticing it little by little the only thing good on barrowing when it is fresh and when its gone well people who lend became pathetic and that can turn them down thats why dont borrow money if its not really important.

When there is really a dire need or an emergency that you need funds immediately then I think borrowing bitcoin will be useful. If you are short of some fiat and bitcoin is the only way for you to fill up the lacking amount because borrowing fiat is not possible at the moment then borrowing bitcoin is useful even if you need to pay an interest later on. But make sure that you will have the available bitcoin later on to pay it back.But if you just borrow bitcoin for other purposes to fulfill your wants rather than needs then just forget about it. One example is that you borrow it for gambling because you are sure that you already know the technique to earn but then after some time you lose it all. How can you pay the bitcoin you borrow in this situation?

The better way is just to have some available funds for emergency purposes so that there’s no need to borrow because if you can’t pay people in time you may lose your chance of borrowing again and possibly his trust also.



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July 26, 2016, 03:43:15 PM
 #574

I have to say I find no reason good to invest in somebody's loan. Suppose they run away with your money because it is online, it will be hard to get your money back.
IF you need money make sure to work for it, loaning is a very bad habit..


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CryingMidget
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July 26, 2016, 04:19:05 PM
 #575

I have to say I find no reason good to invest in somebody's loan. Suppose they run away with your money because it is online, it will be hard to get your money back.
IF you need money make sure to work for it, loaning is a very bad habit..

I think it is only useful when you urgently need it. I found it not ok to loan just to invest in some things that you can possibly earn it rather than paying with interest. Well, it is useful when you have insufficient coins and there is a discount that you really need to buy.
wildan88
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July 26, 2016, 05:16:13 PM
 #576

when you believe you can benefit from it, and you can afford to pay back. at least this is a very safe loans.

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JasonXG
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August 08, 2016, 11:35:17 AM
 #577

For an investment or business venture I guess . some loan when they in debt but that's a bad idea. I never have taken a loan since I dont like the idea of owing money. There also people who take loans fro gambling and that ia the worst loan you can take or give.

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August 14, 2016, 06:19:39 AM
 #578

I think the right moment to borrow bitcoin is, if we are in need of money for unexpected needs such as illness. Or purchase goods online, but the goods are really needed and can not be postponed to buy it. for investment I prefer to use my own money

Yeah, that's right, we should borrow money on those emergencies, and purchasing goods that are needed to earn, or if it is part of our workhorse such as memory module of your computer, but I think it is also good to borrow money if we are going into investment, but just make sure that you know the investment very well and the investment has a good record and you know you could pay the money on time and with interest aside from your profit..  Wink

Yes it would be useful to borrow if you use it in something that is really urgent or use it in an investment that you can generate money from and would provide you potential profit . I've read somewhere that using other people's money to generate your own money is one of the qualities of a good investor but being sure that he can repay the money he borrows so that it would be a win-win situation.



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dunfida
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August 14, 2016, 10:47:20 AM
 #579

I think the right moment to borrow bitcoin is, if we are in need of money for unexpected needs such as illness. Or purchase goods online, but the goods are really needed and can not be postponed to buy it. for investment I prefer to use my own money

Yeah, that's right, we should borrow money on those emergencies, and purchasing goods that are needed to earn, or if it is part of our workhorse such as memory module of your computer, but I think it is also good to borrow money if we are going into investment, but just make sure that you know the investment very well and the investment has a good record and you know you could pay the money on time and with interest aside from your profit..  Wink

Yes it would be useful to borrow if you use it in something that is really urgent or use it in an investment that you can generate money from and would provide you potential profit . I've read somewhere that using other people's money to generate your own money is one of the qualities of a good investor but being sure that he can repay the money he borrows so that it would be a win-win situation.

If you intend to borrow to someone so that you would have a fund on investing on things but  remember you must be  wise enough to put in a right investment so that  its a win-win situation because if you  put it on a wrong place  then you would  suffer big loss which is a really bad thing.


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plpbtc1526
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August 16, 2016, 07:01:25 AM
 #580

Better buy bitcoin while the price is lower. Maybe you will never its price like this. Borrowing bitcoin is better when the interest is low. Check or visit the lending section. Check if the interest are low. Ofcourse you need something to stake. I suggest do not borrow, better earn some money and buy bitcoins. If you are too needy then you have no choice but to borrow.
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