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Author Topic: Loans too risky?  (Read 62769 times)
SvenBomvolen
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September 06, 2017, 05:15:51 PM
 #1141

I will never not borrow to invest. I will just use the existing resources to invest. If I lose, it is just losing the original amount.
That would be the most confident strategy. But here we say "those one who doesn't risk doesn't drink a shampane". Just you know, when the risk is high the finale income is going to be high too. I understand those people who took a loan to invest in bitcoin, and I suppose they have win already. I'm invy them and to their braveness, just if I could do the same I could allow muself much more than now. But I'm like you are - prefer to risk only with my capitals, but not the other's.
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September 06, 2017, 05:32:33 PM
 #1142

Escrow systems can make the loan by bitcoins a secure as well as risk free. The loan provider and the getting person can submit collateral and loan amount to escrow. Escrow can provide the bitcoin and if proper interest is not paid, escrow can give the collateral to loan provider.
Escrow is just good for the provider of the load. But in case of the people who is responsible to take the load it is still risky for them becasue it is not their own money. So if it will loss they will take the full responsibility to pay it as part of a loan.

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September 07, 2017, 12:57:42 PM
 #1143

Guys, this is serious. Never borrow money from banks or your firends to buy bitcoin or other altcoins. This is too risky. You might be under a market crash and you can't pay them back. This makes you extremely stressful.
Yes, I agree with you mate. Loans are too risky just to buy bitcoin. Better invest in bitcoin if you have extra money. Well back from the OP's question, it is also risky to lend your btc to someone. A collateral must be required like any property the borrower had.Well, with the amount of BTC he got (800btc) , if this is really true, just forget about loaning option, just convert some of it into fiat and enjoy life. Then hold the remaining coins for the future.

I agree with you guys! It's unadvisable to borrow money from banks or from anywhere else just to buy bitcoins. One should gain bitcoin in his/her own expense, meaning it maybe from his/her extra money that he thinks he may not used just soon so he/she will not be worried if something happens since bitcoins depends on market status. Loans are not advisable, it is not worth it!
That would be a gamble to borrow money to make bitcoins, but if you believe you have that skills to achieve your purpose then why would you hesitate. Bank can offer a low interest compared to other lending business so you are talking a privilege to take a loan where you can repay the soonest as long as you succeed.
Yes but, just make sure you surely take of the money you wish with. In loan, yes we have now capital to start wathever business you want. But a great management will present. To insure that your plans, money and time will not waste.

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September 07, 2017, 01:02:33 PM
 #1144

I am against loans. If the person does not have the money for that to buy something it means that he is unable to earn them. In such circumstances, to take out a loan is unwise. You can assume that you will earn in the future, but very often the situation can change dramatically and you will not be able to pay the loan.

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September 07, 2017, 01:09:03 PM
 #1145

Guys, this is serious. Never borrow money from banks or your firends to buy bitcoin or other altcoins. This is too risky. You might be under a market crash and you can't pay them back. This makes you extremely stressful.
Yes, I agree with you mate. Loans are too risky just to buy bitcoin. Better invest in bitcoin if you have extra money. Well back from the OP's question, it is also risky to lend your btc to someone. A collateral must be required like any property the borrower had.Well, with the amount of BTC he got (800btc) , if this is really true, just forget about loaning option, just convert some of it into fiat and enjoy life. Then hold the remaining coins for the future.

I agree with you guys! It's unadvisable to borrow money from banks or from anywhere else just to buy bitcoins. One should gain bitcoin in his/her own expense, meaning it maybe from his/her extra money that he thinks he may not used just soon so he/she will not be worried if something happens since bitcoins depends on market status. Loans are not advisable, it is not worth it!
That would be a gamble to borrow money to make bitcoins, but if you believe you have that skills to achieve your purpose then why would you hesitate. Bank can offer a low interest compared to other lending business so you are talking a privilege to take a loan where you can repay the soonest as long as you succeed.
Yes but, just make sure you surely take of the money you wish with. In loan, yes we have now capital to start wathever business you want. But a great management will present. To insure that your plans, money and time will not waste.
You should really not waste those money that you loan so that you would able to repay the loan later on because if things doesnt work out and those funds comes to waste then for sure you would really suffer on paying up deep debts later on.This is why before planning on borrowing money we should really be prepared on where we gonna use it and the last thing is that we should not borrow money if not really needed.

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September 07, 2017, 01:37:41 PM
 #1146

Guys, this is serious. Never borrow money from banks or your firends to buy bitcoin or other altcoins. This is too risky. You might be under a market crash and you can't pay them back. This makes you extremely stressful.
Yes, I agree with you mate. Loans are too risky just to buy bitcoin. Better invest in bitcoin if you have extra money. Well back from the OP's question, it is also risky to lend your btc to someone. A collateral must be required like any property the borrower had.Well, with the amount of BTC he got (800btc) , if this is really true, just forget about loaning option, just convert some of it into fiat and enjoy life. Then hold the remaining coins for the future.

I agree with you guys! It's unadvisable to borrow money from banks or from anywhere else just to buy bitcoins. One should gain bitcoin in his/her own expense, meaning it maybe from his/her extra money that he thinks he may not used just soon so he/she will not be worried if something happens since bitcoins depends on market status. Loans are not advisable, it is not worth it!
That would be a gamble to borrow money to make bitcoins, but if you believe you have that skills to achieve your purpose then why would you hesitate. Bank can offer a low interest compared to other lending business so you are talking a privilege to take a loan where you can repay the soonest as long as you succeed.
Yes but, just make sure you surely take of the money you wish with. In loan, yes we have now capital to start wathever business you want. But a great management will present. To insure that your plans, money and time will not waste.
You should really not waste those money that you loan so that you would able to repay the loan later on because if things doesnt work out and those funds comes to waste then for sure you would really suffer on paying up deep debts later on.This is why before planning on borrowing money we should really be prepared on where we gonna use it and the last thing is that we should not borrow money if not really needed.

When in the point that I am loaning or something borrow I feel so worried cause I am not sure if I can encrease that money. And not sure if I can pay for it specially that we can't tell what tomorrow will brings. I just try to make sure if I can pay, if not better not to.

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September 07, 2017, 01:39:43 PM
 #1147

borrowing for trading , wow , sounds promising ATM but definetely risky , I'd never do that as I never trade money that I cannot affor to lose.

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September 07, 2017, 02:45:44 PM
 #1148

I guess so, but it all depends on the people who want to borrow it, sometimes there are people who just want to have the money, so he must ask for a loan from you, but they do not want to replace.
I agree with you, that loans are indeed too risky but will someone do it or rather compelled because of their necessities of life that cannot be fulfilled. If I may suggest better will you join in the bitcoin with so you can have a coin that you can use to pay down debt and as savings or deposits will be but you have to be patient waiting for a high price when selling it.

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September 11, 2017, 02:49:09 AM
 #1149

I had considered to take a bank loan, but it would put me into troubles since crypto market its very hard to predict, even knowing i might sell all my coins to pay the debit it may not be enought, and there is a big pression to repay the bank and the interest as well. Today i dont have feel safety to give a try with fees being around 20-30% from the loan ammount for me its a very risk attempt to have sucess.


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September 11, 2017, 05:09:28 AM
 #1150

I had considered to take a bank loan, but it would put me into troubles since crypto market its very hard to predict, even knowing i might sell all my coins to pay the debit it may not be enought, and there is a big pression to repay the bank and the interest as well. Today i dont have feel safety to give a try with fees being around 20-30% from the loan ammount for me its a very risk attempt to have sucess.
If you do not have a stable job the bank will not gonna approve your loan, and it's not wise if you will use the money in crypto when you have not proven yet that you are good in trading or investing. I suggest you learn to save and from your savings allocate a portion for investing in crypto, I'm sure you can also earn from your side job here in crypto.

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September 11, 2017, 05:15:10 AM
 #1151

I had considered to take a bank loan, but it would put me into troubles since crypto market its very hard to predict, even knowing i might sell all my coins to pay the debit it may not be enought, and there is a big pression to repay the bank and the interest as well. Today i dont have feel safety to give a try with fees being around 20-30% from the loan ammount for me its a very risk attempt to have sucess.
If you do not have a stable job the bank will not gonna approve your loan, and it's not wise if you will use the money in crypto when you have not proven yet that you are good in trading or investing. I suggest you learn to save and from your savings allocate a portion for investing in crypto, I'm sure you can also earn from your side job here in crypto.
Correct its hard to used your loan in the bank to crypto currency investment it will make you a big trouble in the long run also loan in the bank has a huge interest which makes cut your income. Much better to put into a business your loan and divide your income to investment and for payment to your loan.

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September 11, 2017, 01:01:56 PM
 #1152

I had considered to take a bank loan, but it would put me into troubles since crypto market its very hard to predict, even knowing i might sell all my coins to pay the debit it may not be enought, and there is a big pression to repay the bank and the interest as well. Today i dont have feel safety to give a try with fees being around 20-30% from the loan ammount for me its a very risk attempt to have sucess.
If you do not have a stable job the bank will not gonna approve your loan, and it's not wise if you will use the money in crypto when you have not proven yet that you are good in trading or investing. I suggest you learn to save and from your savings allocate a portion for investing in crypto, I'm sure you can also earn from your side job here in crypto.
Correct its hard to used your loan in the bank to crypto currency investment it will make you a big trouble in the long run also loan in the bank has a huge interest which makes cut your income. Much better to put into a business your loan and divide your income to investment and for payment to your loan.
Bank will give loans but we have to pay, but if we failed in trading or investing in crypto that would lead to a bigger problem.
Although investing may sound different but it's still like gambling where we bet on our prediction, let's get real.

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September 11, 2017, 01:13:49 PM
 #1153

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?
Lol I don't believe a word you say about your bitcoin holdings, no offense.  And what's up with people not returning what they borrow?  Hello, are you new to the world?  It's greed and dishonesty.  I assume you're probably not new to this forum either.

Yes loans are very risky as interest keeps on increasing which is very dangerous
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September 11, 2017, 02:07:45 PM
 #1154

Good sir if it's true that you were able to store that amount of Bitcoins, then you're filthy rich by now and there would be no need for you to invest it, just continue to hold it if you want but that's a bit too greedy, isn't it? Having that amount of Bitcoin is enough for a lifetime even if you had a luxurious lifestyle.

In my opinion, I've always been skeptical of loans and I never trusted them ever since the loan agency of my brother closed down causing him to stop his studies. At the same time the loan agency closed down,  we were bankrupt thus giving much inconvenience to our family. Loans are a hassle and it's true that some people don't have the decency to pay back. Some little advice to you is to give out loans only to the people you trust and are at least 60% sure that would pay back because handling money is such a sensitive business and its hard to ask money from those who don't have it.
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September 15, 2017, 05:41:59 AM
 #1155

I had considered to take a bank loan, but it would put me into troubles since crypto market its very hard to predict, even knowing i might sell all my coins to pay the debit it may not be enought, and there is a big pression to repay the bank and the interest as well. Today i dont have feel safety to give a try with fees being around 20-30% from the loan ammount for me its a very risk attempt to have sucess.
If you do not have a stable job the bank will not gonna approve your loan, and it's not wise if you will use the money in crypto when you have not proven yet that you are good in trading or investing. I suggest you learn to save and from your savings allocate a portion for investing in crypto, I'm sure you can also earn from your side job here in crypto.
Correct its hard to used your loan in the bank to crypto currency investment it will make you a big trouble in the long run also loan in the bank has a huge interest which makes cut your income. Much better to put into a business your loan and divide your income to investment and for payment to your loan.
Absolutely! I am not in a favor of taking this loan under any circumstances. There are very few people who can make the best use of this loan and can manage to earn more money from it. I think you should never go for this option till the time you are not sure that your plan will work out in exactly the same way you want it to execute.

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September 18, 2017, 02:36:19 PM
 #1156

if you use a dependable escrow for collateral it's not so dangerous and if you give loans to your close friends with out curiosity for beginning a excellent business maybe it really is a excellent point
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September 18, 2017, 02:47:15 PM
 #1157

if you use a dependable escrow for collateral it's not so dangerous and if you give loans to your close friends with out curiosity for beginning a excellent business maybe it really is a excellent point
Those close friends of yours might give you a bad start since you cant really guarantee that those friend of yours would pay up those loans on a the said due time because i did experience such thing on which i did experience the opposite way which i end up on not being paid by them because we are friends.lol. after that i didnt tend to make any lending business.


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September 19, 2017, 03:10:49 PM
 #1158

I had considered to take a bank loan, but it would put me into troubles since crypto market its very hard to predict, even knowing i might sell all my coins to pay the debit it may not be enought, and there is a big pression to repay the bank and the interest as well. Today i dont have feel safety to give a try with fees being around 20-30% from the loan ammount for me its a very risk attempt to have sucess.
If you do not have a stable job the bank will not gonna approve your loan, and it's not wise if you will use the money in crypto when you have not proven yet that you are good in trading or investing. I suggest you learn to save and from your savings allocate a portion for investing in crypto, I'm sure you can also earn from your side job here in crypto.
Correct its hard to used your loan in the bank to crypto currency investment it will make you a big trouble in the long run also loan in the bank has a huge interest which makes cut your income. Much better to put into a business your loan and divide your income to investment and for payment to your loan.
Absolutely! I am not in a favor of taking this loan under any circumstances. There are very few people who can make the best use of this loan and can manage to earn more money from it. I think you should never go for this option till the time you are not sure that your plan will work out in exactly the same way you want it to execute.
Loans are no doubt quite risky to take, but I think if someone has a proper plan to make the best possible use of that loan and then use it to earn a good amount of money for having a good living. In that case, I think one should go for it but only when he is sure that he can execute his plan quite efficiently.



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September 22, 2017, 01:48:17 AM
 #1159

if you use a dependable escrow for collateral it's not so dangerous and if you give loans to your close friends with out curiosity for beginning a excellent business maybe it really is a excellent point
Those close friends of yours might give you a bad start since you cant really guarantee that those friend of yours would pay up those loans on a the said due time because i did experience such thing on which i did experience the opposite way which i end up on not being paid by them because we are friends.lol. after that i didnt tend to make any lending business.
There is the trial and the error because you cannot predict the future and you could not know what will happen so for me it could be a huge risk as you are risking your own money and you are not going to make money in the case of the loss but you can also earn the profit if you get the right person. Now the scammers are scattered now they are ready to do anything for the sake of profit so in this case you need to be very careful.

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September 22, 2017, 03:27:48 AM
 #1160

if you use a dependable escrow for collateral it's not so dangerous and if you give loans to your close friends with out curiosity for beginning a excellent business maybe it really is a excellent point
Those close friends of yours might give you a bad start since you cant really guarantee that those friend of yours would pay up those loans on a the said due time because i did experience such thing on which i did experience the opposite way which i end up on not being paid by them because we are friends.lol. after that i didnt tend to make any lending business.
There is the trial and the error because you cannot predict the future and you could not know what will happen so for me it could be a huge risk as you are risking your own money and you are not going to make money in the case of the loss but you can also earn the profit if you get the right person. Now the scammers are scattered now they are ready to do anything for the sake of profit so in this case you need to be very careful.
It's hard to have Loaning business, having escrow to paid also,and having some good collateral that can accept as an assurance were sometimes not really effective. Better have other activities or business other than loaning.

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