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Author Topic: When is it useful to borrow bitcoin?  (Read 77506 times)
Doamader
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September 07, 2016, 12:13:14 AM
 #641

It is useful to borrow bitcoin same way it is useful to borrow fiat. If you really need to borrow the bitcoin then you borrow it. Some people use it to profit so they borrow it and they turn it into much more then they pay back and are left with the profit. So it depends if you need it for a capital or for other cause.
Borrow bitcoins its something more risked then real fiat, as you can lend to a people whic you  know, with bitcoin you give some trust into other person asking a small interest on it.


Btcjam and others similiars are far away to bring something into bitcoin besides the huge potencial to scam others.



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darklus123
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September 07, 2016, 04:19:22 AM
 #642

If you have a good trading skills then it can leads you to earn decent amounts Smiley but come'on mate this is really not advisable because instead of getting your profit you just go to a much worse situation and i've seen a lot.
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September 07, 2016, 04:29:14 AM
 #643

If you have a good trading skills then it can leads you to earn decent amounts Smiley but come'on mate this is really not advisable because instead of getting your profit you just go to a much worse situation and i've seen a lot.

Yeah if you are going to borrow and you are going to start trading then your profits are just going to be paid for the interest of the amount that you have borrowed.

But if you really badly need bitcoin and you think that you are going to earn more than the amount of total borrowed money plus interest.

Then that is going to be useful for you as long as you can still have profit.

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September 07, 2016, 05:43:39 AM
 #644

It is useful to borrow bitcoin same way it is useful to borrow fiat. If you really need to borrow the bitcoin then you borrow it. Some people use it to profit so they borrow it and they turn it into much more then they pay back and are left with the profit. So it depends if you need it for a capital or for other cause.
Useful or nothing is depend in the people's intention for wanna using the capital for what? Maybe the OP's question is not useful because for answering the op's question is just for talking with your self because what the intention for someone is gonna want for borrow bitcoin?

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September 07, 2016, 07:50:22 AM
 #645

I truly do not understand why anyone would take a loan or provide one in BTC. I can only assume that nine times out of ten it's for gambling or attempted scamming these days. It defies the laws of logic unless someone has left the banking system completely behind or is involved in a BTC only deal for a miner or something.

Maybe once upon a time it was a potential money maker if the price moved radically. That's not really the case at present.

Getting a loan on here should be as hard as humanly possible. It's not as if this scene has a great track record for honesty from the newest poster on here up to the most established heavyweights of the whole shebang.

 


as far as providing one goes, the interest rates are akin to those from loan sharks; 10% in a week? that beats every investment on wall street by a long shot. however, most of these are micro loans, so the profit in the big picture is small, but those that give many loans may see a noticeable profit. also, lenders can possibly make substantial profit from liquidating collateral that is worth a large margin more than the loan given.
It is very usefull to borrow bitcoins not right now but when the price let you borrow bitcoins the price for now is to high to borrow bitcoins and that is sad for peope who love to borrow.
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September 07, 2016, 08:09:34 AM
 #646

It is never useful to borrow money or bitcoins as you have to give back more
well if you borrow bitcoin for a valid reason and you have a confirm source of income and you know you can pay them back then it is not that much bad.
but if you borrow bitcoin for gambling(most of loans being taken for gambling reason) then it is not good at all. if you loose that money the situation sometime gets worst for you.


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September 07, 2016, 08:44:20 AM
 #647

Why you should borrow w bitcoin? For the same reason that you borrow fiat, you should take a loan if you have an idea for a productive activity but you don’t have the bitcoin at hand.

Yes this is the only reason why you should loan and also be prepared to lose the loan and come up with the money + interest.
If you loan what you cant pay back you can get in big trouble so dont do that. Also possible to loan to invest in altcoin just before they skyrocket if you have good eye for it.
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September 07, 2016, 09:08:35 AM
 #648

Why you should borrow w bitcoin? For the same reason that you borrow fiat, you should take a loan if you have an idea for a productive activity but you don’t have the bitcoin at hand.

Yes this is the only reason why you should loan and also be prepared to lose the loan and come up with the money + interest.
If you loan what you cant pay back you can get in big trouble so dont do that. Also possible to loan to invest in altcoin just before they skyrocket if you have good eye for it.

Exactly,  theres only two thing would happen if you do make a loan to someone. If you saw an opportunity to earn decent  profits you could possibly  borrow to someone  but still  theres a risk because you wont know what would happen next its either a win or a loss. Therefore avoid loan as much as you can its better to  invest  your own money even in small amount that would do already.

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September 07, 2016, 11:24:49 AM
 #649

It is never useful to borrow money or bitcoins as you have to give back more
well if you borrow bitcoin for a valid reason and you have a confirm source of income and you know you can pay them back then it is not that much bad.
but if you borrow bitcoin for gambling(most of loans being taken for gambling reason) then it is not good at all. if you loose that money the situation sometime gets worst for you.

If you want to borrow a bitcoin there should be a clear explanation and will usually be asked also to what is bitcoin you borrow, if borrowed bitcoin just to play a gamble I don't think you will get a loan



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September 07, 2016, 02:09:29 PM
 #650

I truly do not understand why anyone would take a loan or provide one in BTC. I can only assume that nine times out of ten it's for gambling or attempted scamming these days. It defies the laws of logic unless someone has left the banking system completely behind or is involved in a BTC only deal for a miner or something.

Maybe once upon a time it was a potential money maker if the price moved radically. That's not really the case at present.

Getting a loan on here should be as hard as humanly possible. It's not as if this scene has a great track record for honesty from the newest poster on here up to the most established heavyweights of the whole shebang.

 


as far as providing one goes, the interest rates are akin to those from loan sharks; 10% in a week? that beats every investment on wall street by a long shot. however, most of these are micro loans, so the profit in the big picture is small, but those that give many loans may see a noticeable profit. also, lenders can possibly make substantial profit from liquidating collateral that is worth a large margin more than the loan given.
It is verry useful to borrow bitcoins off course but i dont think you should start with borrowing them right now because if you take a look at the price of the bitcoin the price is to high for an borrow.
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September 07, 2016, 02:38:21 PM
 #651

If you want to borrow bitcoins you need to invest allot into the bitcoin because we need to bring the price lower than he is right now to borrow bitcoins in a better way.
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September 07, 2016, 03:21:07 PM
 #652

Its useful to borrow bitcoins when you in a need of money, I think that is the only way why you should do it.
You really should not do it for any other reason because it can be risky without any doubts.
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September 07, 2016, 03:54:17 PM
 #653

It's good if you need it for your business and are short of bitcoins or when you need to make any payment like for domains and so on wherein the time matter.s Then you can pay back the amount later on with interest. In cases where you can avoid or there is no urgency, there is no need to borrow money and go in a debt for no appropriate reason.

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September 07, 2016, 09:16:13 PM
 #654

Its useful to borrow bitcoins when you in a need of money, I think that is the only way why you should do it.
You really should not do it for any other reason because it can be risky without any doubts.
Yes right they can borrow money in urgent use or in emergency situations but if you borrow to buy thing what you want i think that is not okay and not useful because if you have no money and theres thing you want to buy maybe you must content what you have and do earn to buy that things.

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September 07, 2016, 11:12:30 PM
 #655

It is never useful to borrow money or bitcoins as you have to give back more

There are very specific circumstances in which borrowing is useful and that is if you want to engage in a productive activity but you don’t have the cash in hand, in this day and age people borrow money just for the Lulz, but in the past this was the only valid reason to borrow.
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September 08, 2016, 04:15:04 PM
 #656

It is never useful to borrow money or bitcoins as you have to give back more

There are very specific circumstances in which borrowing is useful and that is if you want to engage in a productive activity but you don’t have the cash in hand, in this day and age people borrow money just for the Lulz, but in the past this was the only valid reason to borrow.



Well you are right with it, it is going to be useful to borrow if you are going to use it for your profitable activity. And you just need to make sure that you are going to make it real and get good some profits out of it. Because if you are not going to get good profit out of it then you are just going to work to pay your borrowed bitcoin with interest.
At bitcoin lending i doubt the profitable activity is a need, we do lend our bitcoins to get some interest, something i consider less risked then invest into some altcoin, has i made in the past and lost several coins. Soo lending is something that may bring you profit, as long you work with colateral, otherwise you may be donating bitcoins instead lending.



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Forbiddenone
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September 10, 2016, 12:19:42 PM
 #657

I think your title give a second thought also.first meaning that you already stated that the problems between lending and borrowing.it is not safe obviously.second thought is that you mean when is it useful to borrow bitcoin for gaining profit out of it.
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September 10, 2016, 12:26:17 PM
 #658

It is never useful to borrow money or bitcoins as you have to give back more

There are very specific circumstances in which borrowing is useful and that is if you want to engage in a productive activity but you don’t have the cash in hand, in this day and age people borrow money just for the Lulz, but in the past this was the only valid reason to borrow.



Well you are right with it, it is going to be useful to borrow if you are going to use it for your profitable activity. And you just need to make sure that you are going to make it real and get good some profits out of it. Because if you are not going to get good profit out of it then you are just going to work to pay your borrowed bitcoin with interest.
At bitcoin lending i doubt the profitable activity is a need, we do lend our bitcoins to get some interest, something i consider less risked then invest into some altcoin, has i made in the past and lost several coins. Soo lending is something that may bring you profit, as long you work with colateral, otherwise you may be donating bitcoins instead lending.

But the title itself says if you are going to be borrower not a lender, we all know that lending is a good source of income if you are going to enter that industry and just to make assurance that your borrower is going to pay we need to have something in return by means of collateral. But having a collateral is not literally means that you have assurance that you are going to earn because sometimes it is hard to sell that and it takes time.

So thats why you make sure that the collateral you collected is more valuable or most buyable ones so if the barrower defaults his loan well you can sell the collateral immediately with a huge income will coming unto you, and i think all lenders think that to surely have an strategy for thereselves so they will not be fooled by those scammers or loan defaulter and to have an assurance to earn with this scheme.

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September 10, 2016, 01:09:30 PM
 #659

It is just going to be useful to borrow bitcoin if you really need it for spending something that you think to be profitable.

Or else you are just going to borrow if there is an emergency incident that you are going to badly need bitcoins so that you are going to have no option at all but by borrowing.

But make sure that you are going to be sure that you are going to be able to pay what you have borrowed because not just the bitcoins you are borrowing but as well as the trust of lender.



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Yutikas_11920
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September 10, 2016, 01:18:26 PM
 #660

It is never useful to borrow money or bitcoins as you have to give back more

There are very specific circumstances in which borrowing is useful and that is if you want to engage in a productive activity but you don’t have the cash in hand, in this day and age people borrow money just for the Lulz, but in the past this was the only valid reason to borrow.



Well you are right with it, it is going to be useful to borrow if you are going to use it for your profitable activity. And you just need to make sure that you are going to make it real and get good some profits out of it. Because if you are not going to get good profit out of it then you are just going to work to pay your borrowed bitcoin with interest.
At bitcoin lending i doubt the profitable activity is a need, we do lend our bitcoins to get some interest, something i consider less risked then invest into some altcoin, has i made in the past and lost several coins. Soo lending is something that may bring you profit, as long you work with colateral, otherwise you may be donating bitcoins instead lending.

But the title itself says if you are going to be borrower not a lender, we all know that lending is a good source of income if you are going to enter that industry and just to make assurance that your borrower is going to pay we need to have something in return by means of collateral. But having a collateral is not literally means that you have assurance that you are going to earn because sometimes it is hard to sell that and it takes time.

So thats why you make sure that the collateral you collected is more valuable or most buyable ones so if the barrower defaults his loan well you can sell the collateral immediately with a huge income will coming unto you, and i think all lenders think that to surely have an strategy for thereselves so they will not be fooled by those scammers or loan defaulter and to have an assurance to earn with this scheme.

That is certainly true, all those who lend money will certainly be more careful in giving loans to those who are not yet known. But if they have a warranty or something to convince the borrower then they will certainly be happy to provide such loans. Because sometimes there are just scammers looking for opportunity



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