would u open a loan to buy the dip?

[plr]

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.

However attractive to buy a coin in this situation, you should not, remember to invest only what you can afford to lose, you can end up losing everything and in big debt, if you make a loan to buy this dip because there is no guaranty when will the market rise again.

[DeathAngel]

I wouldn’t to be honest. I regularly buy but only with actual fiat that I earn. I don’t like any tyoe of debt so loaning is a big no for me.

[bitfocus]

please don't take is otherwise, that will be crazy gambling, not investment.

[ChrisPop]

As a rule of thumb I try to stay away from bad debt. However if you want to invest in a safe, income producing asset like multi-family apartments I would happily use a bank loan as leverage. I don't advise making loans to invest in crypto. I know a lot of people who got into trouble and now can barely afford to pay their rates. Be careful with this!

[shoreno]

for this current dip ? no but if the dip is harder , let say btc at under 1k usd . i think that can cause me to panic buy and if ever  i dont have  a cash i guess i will loan some on my parents and on my friends but i wont ever loan in a bank or any other lending service because im afraid that i cant repay them on time . loaning to invest is more better than loaning to buy unimportant things because in cryptos we are sure that we can get a high return  .

[Mr.Ease]

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.

Plenty of people do this exact thing... We typically call them "Stupid"

Because literally, that is probably the dumbest shit anyone could do... Go into massive debt trying to get rich??? Only a moron would find that legit  

Why not just take out a loan for scratch tickets?  You could win the 100k Grand Prize - Instantly!
Or refinance your house for a high stakes vegas gambling trip?

Either way you look at it - It would be gambling.


Only a moron would go into debt to buy something that went 10,000% in 2years...
You missed the boat - Don't try swimming into the ocean attempting to catch it - You will drown.

[wildey]

its been said a million times before but ill say it again

ONLY INVEST WHAT YOU CAN AFFORD TO LOSE

well, I agree with this. when you borrow and the price continues to decline, it will only make you dizzy. well, I already have a lot of experience in terms of debt, and I strongly recommend not opening a loan just because you speculate.

[coolcoinz]

As a rule of thumb I try to stay away from bad debt. However if you want to invest in a safe, income producing asset like multi-family apartments I would happily use a bank loan as leverage. I don't advise making loans to invest in crypto. I know a lot of people who got into trouble and now can barely afford to pay their rates. Be careful with this!

I have a similar approach. I stay away from banks and from debt altogether. I keep very little fiat money, just enough to pay my bills, and I've never taken a loan in my life.
I have a strong belief in cryptocurrencies but the fear of having to deal with debt collectors or being taken to court if something goes wrong is too big. It would put me on the map, under the spotlight of the government and I prefer to stay out of it for as long as possible.

[normanz]

I don't think to borrow because it's risky, I use money from savings and even though it's a little but at least I don't need to think hard about the results I'll get.

[Haliburton]

Sure why not? Seeing how this bear market has given a steep decline in Bitcoin's price, it would be the ideal moment to invest in it as much as you can. Personally, I'd take a crypto loan from Nexo, and use it to buy large quantities of Bitcoin. Then, I would take those Bitcoins to buy ASIC mining hardware or invest into cloud mining to obtain a return on my investment. Sure, there's a risk involved here, but as long as Bitcoin remains in the $3,500 price margin, there shouldn't be a problem.

Apart from this, not everyone is capable of taking a loan and paying it at the right time. Only those who're willing to risk themselves and are able to afford paying back the loan, could do such practice. 

[Nasonn]

I wouldn't and it will be a terrible idea because no one actually knows the dip. You might think you've bought the dip but to your surprise, minutes later you will be further in loss.

[bitbunnny]

No, I wouldn't. That is exactly the mistake many are making, they are taking loans to invest in Bitcoin. This is completely wrong strategy and possible could lead you to losses you can't make up.
First and the most important rule of any investment and so investing in Bitcoin too is to invest extra funds that you don't need and not to invest the funds that you don't have. Sooner or later investing based on loans will lead you into troubles.

[UmerIdrees]

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, under no circumstances will I get involved with loans. I know well what it is and I know how many people broke their lives because of these loans. Cryptocurrency is very unpredictable, so it is not the area where it is permissible to invest credit funds. Cryptocurrency should work only free funds. If they are absent, it is better to participate in the campaigns of bounty ICO during this period.

Bitcoin is too much risky investment and to go with the loan to invest and gain profit is definitely not recomended in any case.

No. I do not see myself taking a loan to buy the dip in cryptocurrency nor will I advise anyone to do same because the cryptocurrency market is highly unstable and as such one coul loose the money invested within seconds of investing.
So to be on the safe side, it's advisable that one uses his money and always invest what you can afford to loose.

Even if bitcoin falls below 3000$ and the signs are very clear that it will jump back high, i will not take any loan to get in it. That's my point of view of course.

[tmfp]

This thread is relevant to buying crypto on credit. Bear in mind it was March, "only" ~$10k BTC......

https://bitcointalk.org/index.php?topic=3048436.0

[PeRo]

Maybe some people would, maybe I would also take a loan but I do not like to owe money to anyone, even banks or loan givers. If I want to buy the dip, I will do it with my own money if I have enough to buy, if I don't have the money, I jill just skip that opportunity and wait for another one.

[Coyster]

Investing money that's not yours in a volatile,unpredictable and undecipherable system is a foolish thing to do and if done may be regretted later on as it could land one into real trouble and problems
If you've got 10 dollars,its best you invest 2 dollars,rather than borrow to make up that sum,that way you'll know you'll be taking full responsibility in case something goes wrong.
Borrowing is bad under any circumstances really

[BurgerCash]

Opening a loan to gamble is absurdly reckless regardless of the consequences.
Even if BTC goes up, being rewarded by this type of behavior will take its toll in the future - as gambling becomes an addiction.
Never overleverage investments, folks, long-term it's a 100% loss for you. Putting more than 25% of your net worth in crypto is insane enough, putting more than 100% - I can't even find the right words...

[lornadane]

No, I will not do that anymore. Because I don't know the future, and Bitcoin movements are not joyful! I borrowed some money from my elder brothers to buy some altcoins and Bitcoin, and after then I failed to make a simple profit, rather I am still in huge loss! Every time when the market goes down, some people think this is the best time to but by selling land or take a loan and buy BTC! But I think this is not a good strategy! If you have extra money, then invest them in Bitcoin, but if you haven't then you don't need borrow or something like that to buy cryptocurrency.

[[btc]YSG]

That will be same things as borrowing or opening loan to gamble, which I can not do and I'll not advice to either. The market is unpredictable what if I lose the loan to the market if the price continues to fall ? That'll be a lose lose situation.

[lornadane]

Maybe some people would, maybe I would also take a loan but I do not like to owe money to anyone, even banks or loan givers. If I want to buy the dip, I will do it with my own money if I have enough to buy, if I don't have the money, I will just skip that opportunity and wait for another one.

The perfect reply! A lot of people who thinks bitcoin is an investment way and price will increase soon, they asked me to take their money and buy some bitcoins myself and give them profit! I avoided them! Because this is not the right time to buy Bitcoin by taking a loan! I wondered, some people sold their land to buy Bitcoin when it was more than 10K USD! How're their feelings now!?