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Author Topic: When is it useful to borrow bitcoin?  (Read 78515 times)
ajun96
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October 03, 2016, 06:47:23 AM
 #781

It’s useful for the very same reasons you borrow any other fiat currency in the world, the only problem its adoption and as such you cannot take a loan to buy a car or something, besides one of the problems with borrowing is that people do it for completely unnecessary reasons like buying something they don’t really need or gambling.
I think to borrow the money you need a really urgent reason as you run out of money and did not have any way to earn money right away, maybe you ought to borrow money to someone. You should consider that interest will come, so use the best possible for loan


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October 03, 2016, 07:35:08 AM
 #782

If you want to borrow bitcoins you should invest into it on the right time because i know for sure that allot of people are borrowing bitcoins at the lowest price and that is not what it is right now.
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October 03, 2016, 08:06:07 AM
 #783

The most profitable time to borrow your bitcoins is off course on the lowest price of the bitcoin off course there are lots of other ways to earn in other ways but borrowing is not the best.
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October 03, 2016, 05:14:41 PM
 #784

When the price is good you can borrow from somebody for long term if you feel bitcoin prise  will  change so much in this term and you can make more bitcoin with bitcoin you borrowed  and it will be usefull for you.
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October 03, 2016, 06:56:22 PM
 #785

It is useful to borrow BTC when you can pay it back before deadline and still make profit that worthes your efforts. You may also want to consider the advice that you should have a property that you are willing to put into collateral. As a lender, I prefer to loan people who provide fair transparency on their purposes, plans and progress. I always check their history, too.


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October 03, 2016, 09:43:12 PM
 #786

It is useful to borrow BTC when you can pay it back before deadline and still make profit that worthes your efforts. You may also want to consider the advice that you should have a property that you are willing to put into collateral. As a lender, I prefer to loan people who provide fair transparency on their purposes, plans and progress. I always check their history, too.

Indeed lending money will always cost you more money than what you are lending due to that I think its in the most cases not a good idea to borrow money or bitcoins.
Its risky and also not very trust worthy because of the fact that it stays the bitcoin right ?
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October 03, 2016, 11:45:43 PM
 #787

It’s useful for the very same reasons you borrow any other fiat currency in the world, the only problem its adoption and as such you cannot take a loan to buy a car or something, besides one of the problems with borrowing is that people do it for completely unnecessary reasons like buying something they don’t really need or gambling.
Most people borrow money because they only want to buy something that they could not buy because they lack money, or they want to gamble then borrowed the money, I think it is a bad idea. it will only hurt them alone, in terms of interest and of course the possibility to lose

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October 04, 2016, 02:58:26 AM
 #788

It’s useful for the very same reasons you borrow any other fiat currency in the world, the only problem its adoption and as such you cannot take a loan to buy a car or something, besides one of the problems with borrowing is that people do it for completely unnecessary reasons like buying something they don’t really need or gambling.
Most people borrow money because they only want to buy something that they could not buy because they lack money, or they want to gamble then borrowed the money, I think it is a bad idea. it will only hurt them alone, in terms of interest and of course the possibility to lose


Thats really a  bad  idea when you intend to  borrow  money because  you want to  buy something   or  spent it  on  useless things  like  playing gambling, it would surely put  you on  trouble when the  payday would come unless  if you have  money to rely on  to pay those  loan but  if  not then you would really have a big problem for sure.

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October 04, 2016, 03:35:22 AM
 #789

The most profitable time to borrow your bitcoins is off course on the lowest price of the bitcoin off course there are lots of other ways to earn in other ways but borrowing is not the best.

For me whatever is going to be the price of bitcoin whether it is on low price or high. It is not going to be helpful if you don't have valid reason for borrowing.

But if you are into investments with bitcoin and you are making for a day with bitcoin and you really need to borrow for it.

It is just going to be helpful if you are into trading of alt coins.
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October 04, 2016, 04:03:56 AM
 #790

It is useful to borrow BTC when you can pay it back before deadline and still make profit that worthes your efforts. You may also want to consider the advice that you should have a property that you are willing to put into collateral. As a lender, I prefer to loan people who provide fair transparency on their purposes, plans and progress. I always check their history, too.

Yup, that's right, if you could pay it before the deadline..With that said, for sure you earn much, and you will have a good reputation and minus the penalty, that's a big help if you won't be paying penalties... I too, if someone would borrow money if I have a spare, I always ask in where they will use it and if it is really for a worthy cause... Coz if it's just for them to buy what they want, I won't give any...   Smiley

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October 04, 2016, 04:43:54 AM
 #791

When the price is good you can borrow from somebody for long term if you feel bitcoin prise  will  change so much in this term and you can make more bitcoin with bitcoin you borrowed  and it will be usefull for you.
what do you mean about "good"? that's very risky for borrowing amount for bitcoin in this day. the worst thing you can't need predicting about the condition of the btc in this time and you can't relying your payback into the profit for keep your btc in your wallet.



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October 04, 2016, 06:45:55 AM
 #792

When the price is good you can borrow from somebody for long term if you feel bitcoin prise  will  change so much in this term and you can make more bitcoin with bitcoin you borrowed  and it will be usefull for you.

In short, when the price is low. That's the right time to borrow when the price immediately rose and you profit from it. That could also be risky if you don't have extra bitcoin, who knows, price might not rise to the level that you are expecting at a given time, for sure you will lose and need to add your bitcoin to what you borrow and pay.

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October 04, 2016, 07:48:42 AM
 #793

I usually borrow coins when I need them for an investment, or when I have a really good offer that I simply cannot resist. For example, a really good steam game is on sale for bitcoin, but I haven't got any bitcoins atm, so I borrow some.
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October 04, 2016, 01:41:16 PM
 #794

I usually borrow coins when I need them for an investment, or when I have a really good offer that I simply cannot resist. For example, a really good steam game is on sale for bitcoin, but I haven't got any bitcoins atm, so I borrow some.

We have  our  own decisions regarding  on how  we  borrow  money  people  for a  certain circumtances that might happen unexpectedly. Well borrowing  money  for the sake of investment would be a  good decision to do as long  you know that you would make such profits and could  able to repay the loan back.






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October 04, 2016, 02:42:05 PM
 #795

Borrow only that which you can return if you are not sure what your reason for borrowing is then there's no point in doing so. If your purpose is clear and you have a game plan that will yield you enough earnings to cover the costs then go ahead.
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October 04, 2016, 03:27:33 PM
 #796

You should borrow bitcoins when you have a valid reason and do some research of what kind of loan you are going to use and especially the interest. To be honest it's too risky to borrow or even lend bitcoins here, it's just too risky


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October 04, 2016, 09:10:24 PM
 #797

It’s useful for the very same reasons you borrow any other fiat currency in the world, the only problem its adoption and as such you cannot take a loan to buy a car or something, besides one of the problems with borrowing is that people do it for completely unnecessary reasons like buying something they don’t really need or gambling.
The most people here do ask a loan for gambling purposes, soo its a high risk associated, and had becomed essential to all the loans requests has to had a valid collateral, those who ignores this will always be scammed, a lot of accounts being dumped on the last months over the loans requests.

If people are just going to borrow bitcoin for their gambling purposes then that is really not going to be a useful way of borrowing. Because how they are going to pay it if they are going to be unlucky as they gamble, even though they have collateral still it is going to be a good reputation if you are going to pay it exact with bitcoins too.
I do believe they really use those money the get when they left the colateral, usually the bitcointalk accounts, into betting, or gamble some are lucky enought and recover their accounts others, just buy and sell accounts and use the lending system here to dump the accounts, its a shady pratice but there is no way to know which and when the user will default a loan.
I believe the same, if an account farmer cannot sell all of his accounts then asking for a loan and giving the account as collateral, is in a way selling the account with no risk to himself, which is why some lenders are not accepting  accounts anymore.



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RobinHoodster
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October 04, 2016, 10:07:22 PM
 #798

You should borrow bitcoins when you have a valid reason and do some research of what kind of loan you are going to use and especially the interest. To be honest it's too risky to borrow or even lend bitcoins here, it's just too risky

Indeed when you need it and you got a good reason to do it it would be worth it but if this is only for the cash I would simply not do it at all because it will than be not worth it.
Doamader
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October 04, 2016, 11:20:24 PM
 #799

You should borrow bitcoins when you have a valid reason and do some research of what kind of loan you are going to use and especially the interest. To be honest it's too risky to borrow or even lend bitcoins here, it's just too risky

Indeed when you need it and you got a good reason to do it it would be worth it but if this is only for the cash I would simply not do it at all because it will than be not worth it.

The most loans requests at this forum are used to gambling and sporting bets, some users do repay early then the period they ask for the repayment. Some people really need the loans and use it to repay for something before they get their payment.


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DomesticTrader
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October 05, 2016, 02:15:32 AM
 #800

You should borrow bitcoins when you have a valid reason and do some research of what kind of loan you are going to use and especially the interest. To be honest it's too risky to borrow or even lend bitcoins here, it's just too risky

Indeed when you need it and you got a good reason to do it it would be worth it but if this is only for the cash I would simply not do it at all because it will than be not worth it.



Yes if you are doing it for the reason that you just need money it would not be worth it and even be stupid to do.
If you have an idea that can be profitable and you need to lend money, I would say go for it!
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