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Author Topic: would u open a loan to buy the dip?  (Read 18946 times)
bitcoinsc
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January 13, 2019, 08:32:28 AM
 #1

would you open a loan to buy the dip? and when it dips again you would open up another loan to buy the dip. and lets say repeat the process. probably no one is doing this. because being in debt is a bad thing. just depends on far u would invest into bitcoin or even crypto currency. sad it has to dip in the first place.
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January 13, 2019, 08:57:55 AM
Merited by OgNasty (1)
 #2

NO, what the hell.
Close your eyes, and imagine you're the guy who took loans to buy the $16,000 dip.
Imagine how you feel on each stage - $15,000. $14,000... and so on.
Imagine how your family looks at you.

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January 13, 2019, 09:01:06 AM
 #3

That's too risky. Instead of doing that, I'd rather join signature campaign to collect satoshis. I can do it on my free time too, so it's not really that hard.

Don't bother to risk your life by chasing the dip, only use money you can afford to lose if you want to speculate in Bitcoin/crypto.
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January 13, 2019, 09:39:49 AM
Last edit: January 14, 2019, 03:11:26 AM by Harkorede
Merited by OgNasty (1)
 #4

I will never do that! That would be a very absurd strategy, I'd rather buy the dip with the little I can afford or gladly miss out If I don't have the financial capability to do so. I'll never make such make a drastic decision which could have me in compromising situation because no can one tell how deep a dip can get or how soon the price will recover.

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January 13, 2019, 09:46:03 AM
 #5

To all the people who are saying that this idea is insane:  this is exactly what people and institutions do when they buy on margin, AKA use leverage.  It's the same thing--you pay interest on someone else's money that you're using to speculate.  I totally agree that for the average person, he/she should not borrow money to play around in the crypto market, and that advice is coming from someone who does not have a single credit card. 

If you don't have the cash on hand to invest or you can't afford to lose it (I fucking hate repeating that advice), don't do it.  Everyone in the gambling section will tell you the same thing, and trying to buy bitcoin on what you think is a dip is gambling.

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January 13, 2019, 09:57:08 AM
Merited by OgNasty (1)
 #6

indeed, borrowing money is a bad thing but how do you want to do it.
investing is not something like that if you do it with borrowed money, how do you eat and replace the loan?
you better work and the results invest. Wink

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January 13, 2019, 10:04:38 AM
 #7

 If you ask me, getting a loan to buy the dip is risky, this is because we all know that crypto is very unstable, you do not know how did the dip will get to.

i have personally witness some professional technical analyst failing in this sphere . so you wont say you understand the market enough to go get a loan .

Now if you do that and the dip keeps getting deeper, how do you intend to pay the interest of the loan ?  you will end up putting yourself in trouble.

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January 13, 2019, 10:09:02 AM
Merited by OgNasty (2)
 #8

To all the people who are saying that this idea is insane:  this is exactly what people and institutions do when they buy on margin, AKA use leverage.  It's the same thing--you pay interest on someone else's money that you're using to speculate.  I totally agree that for the average person, he/she should not borrow money to play around in the crypto market, and that advice is coming from someone who does not have a single credit card. 

If you don't have the cash on hand to invest or you can't afford to lose it (I fucking hate repeating that advice), don't do it.  Everyone in the gambling section will tell you the same thing, and trying to buy bitcoin on what you think is a dip is gambling.

Margin is a bit different though. You're not taking a loan in order to repay the full loan per-se, you're only repaying the difference in price, and 2nd, you're FORCED to repay the full difference once your funds get burned.

Taking a loan on the other hand, you're stuck with the exact amount in fiat that you need to repay. And there's no automatic liquidation, so in case there's a big red dildo up your bottom, it's going to go all the way down before you even realise what's happening (unless you're smart enough to put a stop-loss.. is it smart even?).

I can't say I haven't been burnt off funds myself because of severe fluctuations, but hey, at least I'm not in crippling debt for the rest of my life.

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January 13, 2019, 10:19:23 AM
 #9

would you open a loan to buy the dip? and when it dips again you would open up another loan to buy the dip. and lets say repeat the process. probably no one is doing this. because being in debt is a bad thing. just depends on far u would invest into bitcoin or even crypto currency. sad it has to dip in the first place.

I am trying to figure out any reasonable reasons as to why such investment decision can be made but none whatsoever is coming to justify such decision because it clearly negate every investment principle known to man and it goes beyond someone having high appetite for risk but sheer stupidity heading towards addiction about someone who really need help concerning his choice of actions.

The statistics and the moral parameters just to justify this line of action.

 
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January 13, 2019, 10:47:59 AM
 #10

NO, what the hell.
Close your eyes, and imagine you're the guy who took loans to buy the $16,000 dip.
Imagine how you feel on each stage - $15,000. $14,000... and so on.
Imagine how your family looks at you.
Its too risky to have some loan to buy the dip because we don’t know how much is the dip. You should not invest if you don’t have fund better to save money first and wait for the market to dump. This kind of situation is very dangerous, don’t risk yourself and your famliy because you may have a hard time paying that debts becuase you lose in this market.
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January 13, 2019, 11:09:30 AM
 #11

It doesn't look like anyone would say YES, especially he way you phrased your questions  Grin

Anyway, we've already heard of stories or people getting loans just to jump in the bitcoin craze in 2017 that did not end up well. I believe many have already leaned from that.

 
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January 13, 2019, 11:15:33 AM
 #12

I would not agree that an investor should risk having some loan to buy cryptocurrency right now, there are many points and reasons that it is not right to open up a loan and risk loosing when we are still in the bitcoin market cycle that nobody knows the dip. Always remember that it is better to invest on cryptocurrency that we are ready to loose. Researching is the best advise right now and accumulating knowledge on the fundamentals of cryptocurrency and invest without risking your precious properties and belongings!
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January 13, 2019, 11:25:29 AM
 #13

would you open a loan to buy the dip? and when it dips again you would open up another loan to buy the dip. and lets say repeat the process. probably no one is doing this. because being in debt is a bad thing. just depends on far u would invest into bitcoin or even crypto currency. sad it has to dip in the first place.
No way, I would rather invest small amount of money than asking for a loan just because Bitcoin can give you huge returns or profit. I have never done this because it is way more risky not only in Bitcoin but in all types of investment, unless you know that there will be an upcoming bullish run which is very impossible. Sadly there are people that still wants to do it, like using their credit cards or borrowing money from other people or making a loan just to buy cryptocurrencies. Those people should realize that investing is not 100% profit all the time especially in this market that is highly volatile and unpredictable. For me, as much as I want to put more money in cryptocurrencies, I still don't want to risk money that I don't own and not comfortable to lose.
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January 13, 2019, 11:38:28 AM
 #14

It would ve worth considering but there would be a few points to make clear.

You would have to realise that bitcoin may not move above $6000 in the next
2 years, anything is possible with crypto.

So you would have to be prepared to pay back the loan and wait for bitcoin to
show you the gain you thought it would produce.

It also depends how much you are willing to borrow, over what term and if you
are in a position to pay it back if bitcoin doesnt do what you want it to, and
Are you in a position to loose your investment?
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January 13, 2019, 11:45:14 AM
 #15

would you open a loan to buy the dip? and when it dips again you would open up another loan to buy the dip. and lets say repeat the process. probably no one is doing this. because being in debt is a bad thing. just depends on far u would invest into bitcoin or even crypto currency. sad it has to dip in the first place.

No. It doesn't make sense because of the risk involved, the risk to reward ratio is too high.. You may never know when the price moves, so in case the price dip what will happen to you? I will not entertain that idea no matter what. As what we always preach here, "invest what you can afford to lose". And besides, it's not investing but pure gambling on your end if you take out loans. So just save cash like weekly and monthly and then invest when you're ready, this is much better alternative, IMHO

 
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January 13, 2019, 11:48:13 AM
 #16

No. Under no circumstances would I take such a highly leveraged and risky approach. People often get caught up in the idea that things are a sure thing, they are not. Generating wealth is not a race. If you treat it as such you will ultimately never end up finishing that race.

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January 13, 2019, 11:51:37 AM
 #17

In this era of unpredictable nature of bitcoin it will be a catastrophic loss if you tried such a loan move while the price continue to move dip, you wouldn't know when the dip will stop, trade wise its not a good money management and the end result into heavy loss and bankruptcy.

 
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January 13, 2019, 12:02:02 PM
 #18

I will never do that! That would be a very absurd strategy, I'd rather buy the dip with the little I can afford or gladly miss out If I don't have the financial capability to do so. I'll never make such make a drastic decision which could have me in compromising situation because no one tell how deep a dip can get or how soon the price will recover.
Right and good decision you make, and for me I buy bitcoin only afford my money and I never make a drastic decision that make me regret cause we don't know how long it make recover in the market.
 
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January 13, 2019, 12:03:30 PM
 #19

This is risky if youre a hodler and bought coins at dip and bear market has no possibilities to end soon I will only open a loan if Im a day skilled trader you can earn and pay your loan in just a short period of time if you got some very profitable trades in this bear market.  

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hugeblack
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Strange block 74638


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January 13, 2019, 12:06:31 PM
 #20

Do not invest more than you can lose, if you do not own that money there is no need to borrow it and then speculate at the price.
If you know what you are doing and you have a good intuition to see what is bottom and when the price rises, it will be a risk, but now it does not call it a "gambler."

The likelihood that the price will rise again in a short time seems slim.

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