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Author Topic: When is it useful to borrow bitcoin?  (Read 77563 times)
bhadz
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September 11, 2016, 02:06:54 PM
 #661

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

For me, if you are going to borrow money just make sure you are going to be trusted by the lender too and building up a good relationship to your lender is going to be useful for you. And once you have good record to your lender, what you can do is that borrow money from him again and again because you both trust each other.

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September 11, 2016, 03:00:01 PM
 #662

I don't think that borrowing can be useful as you have to give back more
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September 11, 2016, 03:01:28 PM
 #663

I don't think that borrowing can be useful as you have to give back more

Borrowing doesn't necessarily mean you only get 0.1BTC and hold it there for one week. Most borrowers are investing their money or trading with it, in order to earn some profit out of the borrowed sum.
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September 11, 2016, 03:28:08 PM
 #664

I don't think that borrowing can be useful as you have to give back more

Borrowing doesn't necessarily mean you only get 0.1BTC and hold it there for one week. Most borrowers are investing their money or trading with it, in order to earn some profit out of the borrowed sum.

Of course you are not going to borrow just to hold it. You need to cultivate as you are going to make the borrowed amount as your personal capital for your investment especially trading. Because the longer you are not going to be able to pay your loan for sure the interests rate are going to get higher and as well as the lender are going to get mad.

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September 11, 2016, 06:19:28 PM
 #665

I don't think that borrowing can be useful as you have to give back more

Borrowing doesn't necessarily mean you only get 0.1BTC and hold it there for one week. Most borrowers are investing their money or trading with it, in order to earn some profit out of the borrowed sum.

Of course you are not going to borrow just to hold it. You need to cultivate as you are going to make the borrowed amount as your personal capital for your investment especially trading. Because the longer you are not going to be able to pay your loan for sure the interests rate are going to get higher and as well as the lender are going to get mad.

And you must force yourself to have a good output of it since you have to pay the debt.

Although in most of the cases that loan uses for investments are under the long term loan contract, it's really a must to maximize all the things associated in your chosen investment out of your loan.

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September 12, 2016, 04:32:29 AM
 #666

I don't think that borrowing can be useful as you have to give back more

Borrowing doesn't necessarily mean you only get 0.1BTC and hold it there for one week. Most borrowers are investing their money or trading with it, in order to earn some profit out of the borrowed sum.

Of course you are not going to borrow just to hold it. You need to cultivate as you are going to make the borrowed amount as your personal capital for your investment especially trading. Because the longer you are not going to be able to pay your loan for sure the interests rate are going to get higher and as well as the lender are going to get mad.

And you must force yourself to have a good output of it since you have to pay the debt.

Although in most of the cases that loan uses for investments are under the long term loan contract, it's really a must to maximize all the things associated in your chosen investment out of your loan.

Yeah because if you are not going to do something that is going to be able to maximize your earnings with the amount you have borrowed then for sure you are going be in deep debt if you are not able to pay and follow the contract under the agreement with you and the lender. And you must follow terms and conditions applied.

Its just a commonsense thing that we should  work on the loan amount  so that we could  able  it to grow   in able to pay our loan together with interest because if  we  dont make such actions and plans to diversify the loan that you borrowed for sure you would  have a hard  time same as others said.

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September 12, 2016, 06:27:05 AM
 #667

I don't think that borrowing can be useful as you have to give back more

Borrowing doesn't necessarily mean you only get 0.1BTC and hold it there for one week. Most borrowers are investing their money or trading with it, in order to earn some profit out of the borrowed sum.

Of course you are not going to borrow just to hold it. You need to cultivate as you are going to make the borrowed amount as your personal capital for your investment especially trading. Because the longer you are not going to be able to pay your loan for sure the interests rate are going to get higher and as well as the lender are going to get mad.

And you must force yourself to have a good output of it since you have to pay the debt.

Although in most of the cases that loan uses for investments are under the long term loan contract, it's really a must to maximize all the things associated in your chosen investment out of your loan.

Yeah because if you are not going to do something that is going to be able to maximize your earnings with the amount you have borrowed then for sure you are going be in deep debt if you are not able to pay and follow the contract under the agreement with you and the lender. And you must follow terms and conditions applied.

Its just a commonsense thing that we should  work on the loan amount  so that we could  able  it to grow   in able to pay our loan together with interest because if  we  dont make such actions and plans to diversify the loan that you borrowed for sure you would  have a hard  time same as others said.

Well yeah it is your task to pay the bitcoin that you have borrowed regardless on how much would be the interest rate that lender is going put. Because when you are craving to borrow bitcoin the lender trusted you his own bitcoin juts for you be satisfy and that is going to be a good return that you are going to satisfy the lender.

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September 12, 2016, 07:20:00 AM
 #668

You need to borrow bitcoins at the best moment such as when the price of the bitcoin is at his lowest and that is the only thing i know when it is usefull to borrow the bitcoins.
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September 12, 2016, 07:58:17 AM
 #669

So the times it is useful to borrow bitcoin depend. It's kind of a risky thing to do especially if you don't know what your doing.
I would borrow bitcoin only if you have a plan and need to be funded in that plan and also have a way to return the money incase it goes bad.
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September 12, 2016, 11:54:25 AM
 #670

So the times it is useful to borrow bitcoin depend. It's kind of a risky thing to do especially if you don't know what your doing.
I would borrow bitcoin only if you have a plan and need to be funded in that plan and also have a way to return the money incase it goes bad.

Well it is just going to be a useful thing to borrow bitcoin if you know what you are going to use with that borrowed bitcoin.

And it is better if you are going to use it to something profitable activity just like trading. It is the only way and use you can do for the borrowed bitcoins just to become useful.



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September 12, 2016, 12:32:54 PM
 #671

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.

Probably never, becaause bitcoin is a deflationary market, and if you borrow 1 btc at 200$ market price.

Then you use the 200$ to buy whatever, then if the btc price goes to 1 million $, then you owe 1 million $ which you cant pay from your salary.

Only inflationary currencies are worth using for credits like EUR,USD,JPY, and the rest of the fiat which is devalued and printed like crazy.

Bitcoin's price is volatile. It may be not fit to the large amount of loan. But it is for small amount and short term lending. But it will be different. If the borrowers are invovled in bitcoin business, not expose to the rate flucatuation risk, they may consider it a good option, like IPO, ICO,  crowdfunding for bitcoin or altcoins related business.

Sure that one is good. I mean everytime you exchange bitcoin into an altcoin or fiat, you are exposed to exchange risk.

But that is not necessarly a long term investment, its not even a loan, its just a pure short term startup/investment.

But most people take personal loans not business loans, which dont generate money, but generate huge liability after.
If you want to borrow bitcoins you need to know in what time you can borrow them off course you can borrow them always but you need to find the right timing to make the best profit dont you think so.
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September 12, 2016, 01:50:34 PM
 #672

If you want to borrow bitcoins just pick the right time because the right time will bring the best profit off course by the bticoin it all depends about the timing you have with it so be careful and time good.
sishendaoye
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September 12, 2016, 01:53:13 PM
 #673

Borrowing money always costs money be careful with this. It's never really useful to borrow it only if you are starting up something and need some capital.
Even then the smartest thing is not to borrow cause if you start up fails then where do you find the money which you borrowed + interest. Think about all this before you start borrowing or lending money out.
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September 12, 2016, 05:21:16 PM
 #674

So the times it is useful to borrow bitcoin depend. It's kind of a risky thing to do especially if you don't know what your doing.
I would borrow bitcoin only if you have a plan and need to be funded in that plan and also have a way to return the money incase it goes bad.

Well it is just going to be a useful thing to borrow bitcoin if you know what you are going to use with that borrowed bitcoin.

And it is better if you are going to use it to something profitable activity just like trading. It is the only way and use you can do for the borrowed bitcoins just to become useful.

For investment purposes, it's optional for those people that will take a loan for this cause. Why not start for a small capital? How to get some? Work and earned it.

It's still much better for person to just borrow bitcoin if there is really an urgent situation e.g. emergencies because you really need money in the times like that.

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Fraxinus
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September 12, 2016, 05:37:05 PM
 #675

When you have to cover a loan or need to make a purchase-that's when it's best to borrow btc.

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September 12, 2016, 07:01:27 PM
 #676

Borrowing money always costs money be careful with this. It's never really useful to borrow it only if you are starting up something and need some capital.
Even then the smartest thing is not to borrow cause if you start up fails then where do you find the money which you borrowed + interest. Think about all this before you start borrowing or lending money out.

You are right but if you need money fast and there is no other way it can be smart if you can also pay it back later.
You should only do it when you can do this...
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September 13, 2016, 02:54:26 AM
 #677

When you have to cover a loan or need to make a purchase-that's when it's best to borrow btc.

Loaning for paying another loan? Well I knew a lot of people are doing this because they must follow some contract and rules of date to follow for payment.

Because if they are not able to pay on the exact date for sure another interest is going to add up with the total amount of borrowed money and the current interest.

Yes you are right with it, this is very useful.

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September 13, 2016, 02:09:12 PM
 #678

I don't think that borrowing can be useful as you have to give back more

Borrowing doesn't necessarily mean you only get 0.1BTC and hold it there for one week. Most borrowers are investing their money or trading with it, in order to earn some profit out of the borrowed sum.

Of course you are not going to borrow just to hold it. You need to cultivate as you are going to make the borrowed amount as your personal capital for your investment especially trading. Because the longer you are not going to be able to pay your loan for sure the interests rate are going to get higher and as well as the lender are going to get mad.

And you must force yourself to have a good output of it since you have to pay the debt.

Although in most of the cases that loan uses for investments are under the long term loan contract, it's really a must to maximize all the things associated in your chosen investment out of your loan.

Yeah because if you are not going to do something that is going to be able to maximize your earnings with the amount you have borrowed then for sure you are going be in deep debt if you are not able to pay and follow the contract under the agreement with you and the lender. And you must follow terms and conditions applied.

Its just a commonsense thing that we should  work on the loan amount  so that we could  able  it to grow   in able to pay our loan together with interest because if  we  dont make such actions and plans to diversify the loan that you borrowed for sure you would  have a hard  time same as others said.

Well yeah it is your task to pay the bitcoin that you have borrowed regardless on how much would be the interest rate that lender is going put. Because when you are craving to borrow bitcoin the lender trusted you his own bitcoin juts for you be satisfy and that is going to be a good return that you are going to satisfy the lender.

On building a trust  between you and the lender you must pay your borrowed money from him together with interest so that on future when you intend to borrow a money you wouldnt already have a hard time to borrow next time since you are already been trusted by the lendor.

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September 13, 2016, 04:37:59 PM
 #679

Borrowing money should be avoided as much as possible.  Even with bitcoin because there are lots of friendship that were ruined because of the borrower not able to pay.  but of course it would be useful to  borrow bitcoin in  time when you really need it.  Like if something unexpected happen, or you are short of some mbtc and it is urgent to complete the amount.  Not only you can buy or pay for the things you have to pay but if you are able to pay it with interest, build your credential too.

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September 14, 2016, 10:10:01 AM
 #680

I do not think that it is useful to borrow Bitcoin because it means that you have to pay it back eventually. Be aware for people who say they would like to loan you Bitcoin.
You are never ever going to see those Bitcoin back again.
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