Chef Ramsay
Legendary
 Offline
Activity: 1568
Merit: 1001
|
 |
January 17, 2015, 08:53:23 PM |
|
This is one of those scenarios where "this won't end well" is the likely outcome if there's not a turn around right around the corner. Frankly, unless you're employed and have extra money available to you over and above monthly expenses, you're generally not in a position to invest in anything. The majority of even the workers in the USA are just living paycheck to paycheck and have no plan whatsoever to have any funds available for the proverbial rainy day, much less thinking about ever retiring. That said, at these prices it wouldn't be a bad time to get in in a substantial way if you've just come across bitcoin or have been awaiting a near bottom environment. Way bigger upside at this point than going to 0 and most people that have a clue or are at least neutral would likely lean in that direction.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
dothebeats
Legendary
Offline
Activity: 3626
Merit: 1352
Cashback 15%
|
|
January 17, 2015, 09:19:30 PM |
|
Ahh nope. Just nope. Don't ever risk money on things that you aren't sure of what will gonna be. You may just end up burning yourself.
|
.
.HUGE. | | | | | | █▀▀▀▀
█
█
█
█
█
█
█
█
█
█
█
█▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.
CASINO & SPORTSBOOK
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█
█
█
█
█
█
█
█
█
█
█
█
▄▄▄▄█ | | |
|
|
|
|
ronald98
|
|
January 17, 2015, 09:34:30 PM |
|
Ahh nope. Just nope. Don't ever risk money on things that you aren't sure of what will gonna be. You may just end up burning yourself.
They say never risk what you can't afford to lose. Risking something you borrowed is risking something you can't afford to lose. |
|
|
|
|
|
pattu1
|
|
January 18, 2015, 12:35:10 PM |
|
Yikes.... Not only would taking a loan mean you are investing more than you can afford to lose; you would end up being in debt when the price crashes.
You may have to work for a significant amount of time to repay the loan.
If investing in BTC was such a sure shot way of making money, a lot of people would have done it already.
|
|
|
|
|
|
bornil267645
|
|
January 18, 2015, 01:09:10 PM |
|
Well at the current price it's certainly is an innovative thinking considering the bitcoin market price picks up again.
|
|
|
|
CoinCidental
Legendary
Offline
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
|
|
January 20, 2015, 05:18:20 PM |
|
Yikes.... Not only would taking a loan mean you are investing more than you can afford to lose; you would end up being in debt when the price crashes.
You may have to work for a significant amount of time to repay the loan.
If investing in BTC was such a sure shot way of making money, a lot of people would have done it already.
we did  its all about the timing............. |
|
|
|
|
gentlemand
Legendary
Offline
Activity: 2590
Merit: 3008
Welt Am Draht
|
|
January 20, 2015, 05:23:16 PM |
|
Hmm. No posts from the OP since December '13 and most of them are yelling 'buy'. There's a lesson in there somewhere, kids.
|
|
|
|
|
|
ronald98
|
|
January 20, 2015, 06:19:29 PM |
|
Hmm. No posts from the OP since December '13 and most of them are yelling 'buy'. There's a lesson in there somewhere, kids.
If he got a loan from a bank and couldn't pay they send round debt collectors. If he got a loan from a loan shark and couldn't pay they send round heavies. I hope the OP is OK. |
|
|
|
|
|
ensurance982
|
|
January 21, 2015, 12:05:14 AM |
|
Hmm. No posts from the OP since December '13 and most of them are yelling 'buy'. There's a lesson in there somewhere, kids.
If he got a loan from a bank and couldn't pay they send round debt collectors. If he got a loan from a loan shark and couldn't pay they send round heavies. I hope the OP is OK. Well back in December it was at least enough time to get out of the game. The price didn't go below $900 for the time being until January! He could've liquidated his assets and got out of his loan. But If he really took a loan, I don't think this is how it played out. Peoples' minds don't work like that... |
We Support Currencies: BTC, LTC, USD, EUR, GBP
|
|
|
|
bitcoin_bagholder
|
|
January 21, 2015, 12:11:42 AM |
|
Hmm. No posts from the OP since December '13 and most of them are yelling 'buy'. There's a lesson in there somewhere, kids.
If he got a loan from a bank and couldn't pay they send round debt collectors. If he got a loan from a loan shark and couldn't pay they send round heavies. I hope the OP is OK. Well back in December it was at least enough time to get out of the game. The price didn't go below $900 for the time being until January! He could've liquidated his assets and got out of his loan. But If he really took a loan, I don't think this is how it played out. Peoples' minds don't work like that... It's easy to be a Monday morning quarterback. He held for greener pastures. |
Bitmixer sucks
Bit-X sucks
|
|
|
|
ensurance982
|
|
January 21, 2015, 12:28:29 AM |
|
Hmm. No posts from the OP since December '13 and most of them are yelling 'buy'. There's a lesson in there somewhere, kids.
If he got a loan from a bank and couldn't pay they send round debt collectors. If he got a loan from a loan shark and couldn't pay they send round heavies. I hope the OP is OK. Well back in December it was at least enough time to get out of the game. The price didn't go below $900 for the time being until January! He could've liquidated his assets and got out of his loan. But If he really took a loan, I don't think this is how it played out. Peoples' minds don't work like that... It's easy to be a Monday morning quarterback. He held for greener pastures. Reviewing his most recent posts, he more likely was a troll trying to find out how many people considered it a good idea to go long with borrowed money on Bitcoin at a point which would eventually become its ATH for more than a year now. |
We Support Currencies: BTC, LTC, USD, EUR, GBP
|
|
|
jjacob
Legendary
Offline
Activity: 1554
Merit: 1026
★Nitrogensports.eu★
|
|
January 21, 2015, 12:33:45 AM |
|
Hmm. No posts from the OP since December '13 and most of them are yelling 'buy'. There's a lesson in there somewhere, kids.
If he got a loan from a bank and couldn't pay they send round debt collectors. If he got a loan from a loan shark and couldn't pay they send round heavies. I hope the OP is OK. Well back in December it was at least enough time to get out of the game. The price didn't go below $900 for the time being until January! He could've liquidated his assets and got out of his loan. But If he really took a loan, I don't think this is how it played out. Peoples' minds don't work like that... People take loans in the hope that they make a killing. He would have waited it out. |
|
|
|
|
ensurance982
|
|
January 21, 2015, 12:36:09 AM |
|
Hmm. No posts from the OP since December '13 and most of them are yelling 'buy'. There's a lesson in there somewhere, kids.
If he got a loan from a bank and couldn't pay they send round debt collectors. If he got a loan from a loan shark and couldn't pay they send round heavies. I hope the OP is OK. Well back in December it was at least enough time to get out of the game. The price didn't go below $900 for the time being until January! He could've liquidated his assets and got out of his loan. But If he really took a loan, I don't think this is how it played out. Peoples' minds don't work like that... People take loans in the hope that they make a killing. He would have waited it out. Exactly. And at this very moment - at $211.92 - he would be severely in the red numbers. There's no way of knowing how he would have dealt with this fact - he could have sold everything panicking or waiting for the upswing. But maybe he would also have lost his house, family, or worse... |
We Support Currencies: BTC, LTC, USD, EUR, GBP
|
|
|
|
tadakaluri
|
|
January 21, 2015, 04:27:59 AM |
|
I would like to know OP's experience..........
|
|
|
|
|
dustcoins23
Newbie
Offline
Activity: 7
Merit: 0
|
|
July 21, 2017, 09:00:12 PM |
|
Wondering wopwop.. Did you take the loan?  |
|
|
|
|
Bitmore
Full Member
Offline
Activity: 413
Merit: 100
https://eloncity.io/
|
|
July 23, 2017, 02:14:36 AM |
|
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
A better plan would be "dollar cost averaging" in buying an affordable amount every month,,, and then HODL. And don't buy what you can't afford to lose. That is the general rule of speculative investing. |
|
|
|
|
tauceramica
|
|
July 23, 2017, 02:45:07 AM |
|
If I were you, I would never buy bitcoin with loan money. Because that's not your money and you can lose that amount in case of a dump. Who knows... Please don't buy coins with loan money. This is dangerous like hell.
|
|
|
|
|
sailman
Newbie
Offline
Activity: 23
Merit: 0
|
|
July 23, 2017, 06:09:03 AM |
|
Why not take a loan out to play the tables in Vegas as well?
|
|
|
|
|
jk_14
Legendary
Offline
Activity: 1292
Merit: 1000
|
|
July 23, 2017, 08:20:41 AM |
|
Taking up a loan for speculations is only worth it if the following conditions are met:
- There's a risk that you are willing to take on with your own money
- If you lose 100% of your loan amount right after getting the loan, you won't run into any financial problems
If both conditions are met, you can consider doing this, otherwise stay away.
Generally what you are thinking about is an arbitrage trade. You are hoping to buy money at an interest rate X (loan) and use it to make a gain of Y for a profit of Y-X times the borrowed sum. People do it all the time, but you have to know what you're doing and/or be completely certain that you won't fuck yourself over if you burn the whole sum.
|
|
|
|
|
AjithBtc
Sr. Member
Offline
Activity: 1666
Merit: 276
Vave.com - Crypto Casino
|
|
July 23, 2017, 08:30:46 AM |
|
Taking a loan to buy bitcoin and profit is a good decision for those who cannot afford a good fiat to buy bitcoins. Same time it has got the increased risk, because if the user is unlucky due to fluctuations he might be not able to earn the right profit. This may lead to the pending of loan repayments causing the loss, better is to starting with small loan amounts to avoid big losses.
|
|
|
|
|
