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Author Topic: When is it useful to borrow bitcoin?  (Read 78531 times)
BingoDog
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September 14, 2016, 03:57:46 PM
 #681

If you don't have enough coins at the moment and you need it for useful purpose and you are sure that you will be able to repay the loan with interest and don't having problems because of it, then it could be useful to borrow Bitcoins. But I don't think that isw useful to borrow it for gambling.

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September 14, 2016, 06:54:00 PM
 #682

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.

I agree with you that borrowing is not a thing you do. But there are some situations that are going to happen to us and we need to do it. Just like if you are a full time trader and you already have invested all your bitcoins but still you have another one alt coin to buy because you think you are going to get profit with it, so what you are going to do is to borrow.

Then why put a plan instead of making an extra funds rather than to borrow since you already have some investment on hand? Can't believe that while you are on your journey of trading, most of the time you are borrowing?

What is the sense of doing trades here if you can't stand by yourself in the middle of the term?

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September 15, 2016, 01:21:16 AM
 #683

If you don't have enough coins at the moment and you need it for useful purpose and you are sure that you will be able to repay the loan with interest and don't having problems because of it, then it could be useful to borrow Bitcoins. But I don't think that isw useful to borrow it for gambling.

But for me, borrowing bitcoin is not going to be useful at all because that is just going to add to your debt. But if your reason is to be profitable with that borrowed bitcoin.

Then I guess that is going to be a useful way but don't just hold it, you must going to work for it so that your bitcoin is earning.

Because you have something to pay for the interest and as well as the whole amount.

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September 15, 2016, 01:23:06 AM
 #684

I think it is beneficial when the price is going up then when you sell you are getting a little bit back.
Then when it goes down you can pay it back to the lender and hopefully the amount that you got from the increase in price is more than the interest that they asked for you to pay back to them at the time the borrowing took place.

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September 15, 2016, 01:58:21 AM
 #685

If you don't have enough coins at the moment and you need it for useful purpose and you are sure that you will be able to repay the loan with interest and don't having problems because of it, then it could be useful to borrow Bitcoins. But I don't think that isw useful to borrow it for gambling.

But for me, borrowing bitcoin is not going to be useful at all because that is just going to add to your debt. But if your reason is to be profitable with that borrowed bitcoin.

Then I guess that is going to be a useful way but don't just hold it, you must going to work for it so that your bitcoin is earning.

Because you have something to pay for the interest and as well as the whole amount.
The mainly amount of loan + interest you are promising at the payback time and that is so weight, it's not only about considering just for borrowing bitcoin but you need for making calculate about if you get your loans and how many you can get a profit for your loans for a day and calculating with the total your loans+interest.

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September 15, 2016, 03:14:33 AM
 #686

If you don't have enough coins at the moment and you need it for useful purpose and you are sure that you will be able to repay the loan with interest and don't having problems because of it, then it could be useful to borrow Bitcoins. But I don't think that isw useful to borrow it for gambling.

But for me, borrowing bitcoin is not going to be useful at all because that is just going to add to your debt. But if your reason is to be profitable with that borrowed bitcoin.

Then I guess that is going to be a useful way but don't just hold it, you must going to work for it so that your bitcoin is earning.

Because you have something to pay for the interest and as well as the whole amount.
The mainly amount of loan + interest you are promising at the payback time and that is so weight, it's not only about considering just for borrowing bitcoin but you need for making calculate about if you get your loans and how many you can get a profit for your loans for a day and calculating with the total your loans+interest.

For me borrowing of bitcoin is not going to be useful and must not be done. Because I don't want to work for my debt and going to pay the interest seeing the lender are going to do nothing and going to earn by just lending their money without doing some efforts. I hate that to see the people earning from doing nothing.



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September 15, 2016, 03:23:28 AM
 #687

If you don't have enough coins at the moment and you need it for useful purpose and you are sure that you will be able to repay the loan with interest and don't having problems because of it, then it could be useful to borrow Bitcoins. But I don't think that isw useful to borrow it for gambling.

But for me, borrowing bitcoin is not going to be useful at all because that is just going to add to your debt. But if your reason is to be profitable with that borrowed bitcoin.

Then I guess that is going to be a useful way but don't just hold it, you must going to work for it so that your bitcoin is earning.

Because you have something to pay for the interest and as well as the whole amount.
The mainly amount of loan + interest you are promising at the payback time and that is so weight, it's not only about considering just for borrowing bitcoin but you need for making calculate about if you get your loans and how many you can get a profit for your loans for a day and calculating with the total your loans+interest.

For me borrowing of bitcoin is not going to be useful and must not be done. Because I don't want to work for my debt and going to pay the interest seeing the lender are going to do nothing and going to earn by just lending their money without doing some efforts. I hate that to see the people earning from doing nothing.

Thats the essence on having a lending business which you could actually move your money only  without  doing anything on  physical works. Agree borrowing bitcoin is  not necessary unless if theres an emergency and we dont have any choice to borrow from but as long  as you cant borrow money from others we  must suppose do things that we could actually support  our needs on money.

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September 15, 2016, 03:21:08 PM
 #688

Borrowing any kind of money is never super useful and efficient cause it always costs money aswell setting you back etc.
If you a running a business and need a little bit more capital with a sure return of profit then borrowing is great cause it makes you able to take the oppurtunity which you couldnt take otherwise.
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September 16, 2016, 06:47:30 PM
 #689

I think it  is useful to borrow bitcoin  if you saw a one  in a lifetime bitcoin investment opportunity but lack the bitcoin to invest in it.  You can't say when you need money because if that is the point then why not borrow money from your relatives or  your friend.  Basically it is wise to borrow bitcoin if you think that the thing you will use this borrowed bitcoin will give you big profit.



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September 16, 2016, 09:12:37 PM
 #690

I think it  is useful to borrow bitcoin  if you saw a one  in a lifetime bitcoin investment opportunity but lack the bitcoin to invest in it.  You can't say when you need money because if that is the point then why not borrow money from your relatives or  your friend.  Basically it is wise to borrow bitcoin if you think that the thing you will use this borrowed bitcoin will give you big profit.

It can be good but I think its not worth it because you always need to pay more back and simply for that its not smart at all.
People are mostly doing this if they do not have money available for a moment, sometimes its also good to not have this by the way.
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September 17, 2016, 04:34:19 AM
 #691

I think it  is useful to borrow bitcoin  if you saw a one  in a lifetime bitcoin investment opportunity but lack the bitcoin to invest in it.  You can't say when you need money because if that is the point then why not borrow money from your relatives or  your friend.  Basically it is wise to borrow bitcoin if you think that the thing you will use this borrowed bitcoin will give you big profit.

It can be good but I think its not worth it because you always need to pay more back and simply for that its not smart at all.
People are mostly doing this if they do not have money available for a moment, sometimes its also good to not have this by the way.

For me as long as you don't need it, then you don't have to borrow bitcoin for me borrowing is just going to be useful if there's an emergency.

But I am thinking after borrowing the consequence of it is going to be paid with the interest that you are going to shoulder.

That is what I am considering that as long as you don't need to borrow, don't borrow..

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September 17, 2016, 10:27:52 PM
 #692

I think it  is useful to borrow bitcoin  if you saw a one  in a lifetime bitcoin investment opportunity but lack the bitcoin to invest in it.  You can't say when you need money because if that is the point then why not borrow money from your relatives or  your friend.  Basically it is wise to borrow bitcoin if you think that the thing you will use this borrowed bitcoin will give you big profit.

It can be good but I think its not worth it because you always need to pay more back and simply for that its not smart at all.
People are mostly doing this if they do not have money available for a moment, sometimes its also good to not have this by the way.

For me as long as you don't need it, then you don't have to borrow bitcoin for me borrowing is just going to be useful if there's an emergency.

But I am thinking after borrowing the consequence of it is going to be paid with the interest that you are going to shoulder.

That is what I am considering that as long as you don't need to borrow, don't borrow..
At this forum the most loans requests are for gambles make their sport bets, or invest into some altcoin that is getting a great volume, besides that some people force the account sell dumping the accounts for almost any value you offer as a loan to them.


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Prettygirl01315
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September 18, 2016, 06:28:15 AM
 #693

If you want to borrow bitcoin. Lending section is the most legitimate section I would suggest to you. But first you have a collateral account so that persons of interest will acknowledge your borrowing and earn trust from them. Keeping your account a good poster makes it better and also keeping your account have a signature campaign is an advantage to approve your loan.
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September 18, 2016, 01:17:01 PM
 #694

If you want to borrow bitcoin. Lending section is the most legitimate section I would suggest to you. But first you have a collateral account so that persons of interest will acknowledge your borrowing and earn trust from them. Keeping your account a good poster makes it better and also keeping your account have a signature campaign is an advantage to approve your loan.


I don't think it would be best advice because there are many scammers running around us here. If you want to borrow or start lending check the sites accept bitcoin lending service like btcjam.
HarryKPeters
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September 18, 2016, 01:45:27 PM
 #695

If you want to borrow bitcoin. Lending section is the most legitimate section I would suggest to you. But first you have a collateral account so that persons of interest will acknowledge your borrowing and earn trust from them. Keeping your account a good poster makes it better and also keeping your account have a signature campaign is an advantage to approve your loan.


I don't think it would be best advice because there are many scammers running around us here. If you want to borrow or start lending check the sites accept bitcoin lending service like btcjam.

The lending business indeed is risky. They are scammers and honest people but it is hard to know which one is who. If you need money just save money and buy it.
Having debts is a thing you should avoid at all time.

yopix
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September 18, 2016, 03:17:20 PM
 #696

If there's a great opportunity available for an investment, it would be a good situation to borrow for.

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September 18, 2016, 04:26:57 PM
 #697

I think you haven't to borrow bitcoins anytime unless you need it urgently for emergeny purposes. Thats my advice because you dont know if you will be able to repay in time or not, so better to avoid borrowing bitcoins
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September 18, 2016, 04:36:07 PM
 #698

I am not sure if it is useful to borrow Bitcoins, anytime. Sometimes we need to borrow because we haven't another solution, but i think it should being always our last solution

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September 20, 2016, 03:31:11 AM
 #699

I think it would be most useful when you borrow Bitcoin to use it as a capital or maybe as an additional to the capital that you already have. But you should avoid it as much as possible because there's a possibility that what you borrowed today is much more valuable at the time of repayment. For example, you borrowed 10BTC at 611$, then that's 6110$. But at the date of repayment, 10BTC costs 700$, then that's 7000$ in total. You just lost 890$ just because you repaid in a bad time.

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jossiel
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September 20, 2016, 03:39:05 AM
 #700

If there's a great opportunity available for an investment, it would be a good situation to borrow for.

Well this is really good to consider if you really need bitcoin for some opportunities that you can see that you are going to be productive.

And you don't have enough fund for investing to it, so that is going to be a good choice if you are going to borrow bitcoin.

But make sure that you are going to be profitable with it because once you failed with your investment for sure you are going to have debts and it is really going to put you in depth because of its interests.

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