Bitcoin Forum
December 14, 2017, 05:29:46 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 »  All
  Print  
Author Topic: Taking a loan to buy bitcoin  (Read 23321 times)
wopwop
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 27, 2013, 04:29:47 PM
 #1

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
1513229386
Hero Member
*
Offline Offline

Posts: 1513229386

View Profile Personal Message (Offline)

Ignore
1513229386
Reply with quote  #2

1513229386
Report to moderator
1513229386
Hero Member
*
Offline Offline

Posts: 1513229386

View Profile Personal Message (Offline)

Ignore
1513229386
Reply with quote  #2

1513229386
Report to moderator
1513229386
Hero Member
*
Offline Offline

Posts: 1513229386

View Profile Personal Message (Offline)

Ignore
1513229386
Reply with quote  #2

1513229386
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
ToTheMoon1k
Jr. Member
*
Offline Offline

Activity: 42


View Profile
November 27, 2013, 04:30:37 PM
 #2

Taking a loan to speculate isnt a good idea, even when the chances are high.  Its akin to gambling with a loan. 

Hyena
Legendary
*
Offline Offline

Activity: 1820



View Profile WWW
November 27, 2013, 04:31:15 PM
 #3

do it!

Hyena
Legendary
*
Offline Offline

Activity: 1820



View Profile WWW
November 27, 2013, 04:32:08 PM
 #4

Taking a loan to speculate isnt a good idea, even when the chances are high.  Its akin to gambling with a loan.  

it's not gambling if you are so sure that the chances are for you and for the "casino".

Odrec
Member
**
Offline Offline

Activity: 98


View Profile
November 27, 2013, 04:34:48 PM
 #5

Taking a loan to speculate isnt a good idea, even when the chances are high.  Its akin to gambling with a loan. 

+1 to this I wouldn't do it.

Miz4r
Legendary
*
Offline Offline

Activity: 1232


View Profile
November 27, 2013, 04:37:40 PM
 #6

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two.

Bitcoin = Gold on steroids
fallinglantern
Sr. Member
****
Offline Offline

Activity: 255


View Profile
November 27, 2013, 04:39:25 PM
 #7

Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it

This. Bitcoin is still speculative and likely has a binary outcome. You don't want to be homeless because it went to zero.
PenAndPaper
Sr. Member
****
Offline Offline

Activity: 252


View Profile
November 27, 2013, 04:40:18 PM
 #8

Only if you can afford and be comfortable with paying the loan even in the case the price collapses.
zeroday
Donator
Hero Member
*
Offline Offline

Activity: 784


EU: Welcome to the world of financial slavery


View Profile
November 27, 2013, 04:40:54 PM
 #9

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

You will be "weak hands" and your panic will just help bitcoin to drop deeper at nearest bear trap. Someone will buy your coins at half price just a day before it restores back.
Of course unless you have balls of steel.

wopwop
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 27, 2013, 04:41:35 PM
 #10

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two.

Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here.

If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight.
wopwop
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 27, 2013, 04:42:50 PM
 #11

Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it

This. Bitcoin is still speculative and likely has a binary outcome. You don't want to be homeless because it went to zero.
People have been saying that since day one 4 years ago, it's fair to say that bitcoin will never go to zero.
fallinglantern
Sr. Member
****
Offline Offline

Activity: 255


View Profile
November 27, 2013, 04:45:28 PM
 #12

It sounds like you've already made up your mind. In that case, it's likely this thread is just a thinly veiled attempt at a pump because you've already borrowed money and bought at ATH. Nice.
stevebc
Full Member
***
Offline Offline

Activity: 196


View Profile
November 27, 2013, 04:46:13 PM
 #13

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two.

Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here.

If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight.

So the worst case scenario you see is that BTC goes to $9000, then falls back to $1000?  You see absolutely no other scenario worse than that???
I'm holding my bitcoins, but having such blind faith in your predictive abilities is dangerous.

████→→       ● DeepOnion                                                                       ✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯
████→→       ● Tor integrated, 100% anonymous!                                       Get Your FREE Coins NOW!     
████→→       ● Free Airdrop! (No ICO, No Crowdfund)                       ✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯
Odrec
Member
**
Offline Offline

Activity: 98


View Profile
November 27, 2013, 04:46:26 PM
 #14

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two.

Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here.

If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight.

The bolded word is the key. And what you describe is definitely not the worst case scenario IMO.

zeroday
Donator
Hero Member
*
Offline Offline

Activity: 784


EU: Welcome to the world of financial slavery


View Profile
November 27, 2013, 04:47:40 PM
 #15

The same everybody was telling while buying multiple condos during housing bubble. And this is because that bubble did happen. Greed kills.

Why didn't you take a loan just a year ago ?

wopwop
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 27, 2013, 04:48:42 PM
 #16

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two.

Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here.

If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight.

So the worst case scenario you see is that BTC goes to $9000, then falls back to $1000?  You see absolutely no other scenario worse than that???
I'm holding my bitcoins, but having such blind faith in your predictive abilities is dangerous.

Bitcoin doesn't go down in price over longterm, this is a fact. With this fact I can deduce that it will never go longterm below $1000 anymore. It's simple really.
wopwop
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 27, 2013, 04:50:12 PM
 #17

Why didn't you take a loan just a year ago ?


This year has proven that the price only goes up and never stays below its all time high for a longer term. With that in mind it's now safe to take the loan (it wasn't last year). Although I'm still looking if there's any advice from others who took loans to buy bitcoins before about banks who accept large loans for this purpose.
CoinCidental
Legendary
*
Offline Offline

Activity: 1246


Si vis pacem, para bellum


View Profile
November 27, 2013, 04:51:42 PM
 #18

where do you get your facts ? it could easily drop below $1000 at any time
ToTheMoon1k
Jr. Member
*
Offline Offline

Activity: 42


View Profile
November 27, 2013, 04:51:51 PM
 #19

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two.

Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here.

If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight.

So the worst case scenario you see is that BTC goes to $9000, then falls back to $1000?  You see absolutely no other scenario worse than that???
I'm holding my bitcoins, but having such blind faith in your predictive abilities is dangerous.

Bitcoin doesn't go down in price over longterm, this is a fact. With this fact I can deduce that it will never go longterm below $1000 anymore. It's simple really.

Zimbabwe dollars used to always go up too......

everything fails at some point.  Taking a loan to gamble, whether its blackjack or bitcoins, is foolish

wopwop
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 27, 2013, 05:01:53 PM
 #20

where do you get your facts ? it could easily drop below $1000 at any time
just look at any bitcoin pricechart
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!