Taking loan for investment can be life threatening

[DoublerHunter]

Yes, it’s really life threatening especially if you have no means to pay for it. I guess you worry a lot, which I also understand because your uncle might lost everything more than he knew it. And with that, there’s nothing you can do but prepare for the future losses. This might teach your uncle to never trust anyone especially when huge amount of money is at risk. There’s nothing you can do about it, but to wait for the result before you take a new action that will make him recover his losses. Maybe this time, your uncle will be more cautious about the risk.

^ That is definitely right but I think that scenario it is not too late to help his uncle, but instead, advise him and give a proper insight that memecoin investment is not worth it an investment or probably diverting his asset into BTC and cutting losses while it is not too late. Probably huge losses in the future can be avoided if his uncle diverts all his assets to BTC which is proven that could potentially give profit.

[suzanne5223]

Yes, it’s really life threatening especially if you have no means to pay for it. I guess you worry a lot, which I also understand because your uncle might lost everything more than he knew it. And with that, there’s nothing you can do but prepare for the future losses.

Why would anyone with a sensible mind even take a loan when there are sure means of repayment in the first? Not to talk about entrusting his investment to a strange, someone he has seen for a while is strange to him cause people can easily change especially when money is involved. The only thing that can cause this is greed for making money.

[shinratensei_]

never take any loan if you don't have stable income, you're quite literally just throwing yourself into poverty pit, you think you gonna score good money with the loan you just taken but you don't know that you're quite literally against the whales with thousands times capital than you if not more.
moreover you're pressed with the time you gonna need to pay your loan so basically it's added yet another factor to the bad decision you gonna make, loan for investment could be by far stupidest thing ever done if someone just  doing it out of their guts and not some proper thorough planning.

[lienfaye]

I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

Is your uncle collecting interest to this childhood friend? Or he just helped and take a loan on its behalf? The problem is the too much trust of your uncle thinking this friend is a reliable person and won't break its promise. But if the money is used to invest in crypto (which we are fully aware how risky it is) chances to lose are possible and in this situation, the friend take a higher risk investing in not established coins.

It's not really advisable to take a loan unless you can pay it regardless of the result of your investment. But if you're just relying on the profit of this investment, that would be a risky thing to do. So don't take a loan to invest and don't ever take a loan just to lend for your friend that he will use to invest regardless how reliable he is. Because you'll never know until you're put in a hard situation.

[DevilSlayer]

That's the fastest way for you to be in emotional discomfort, burnt trading account, and bad performance not only in trading but in life. It is very dangerous to make an investment from loans especially if it is your first time to experience the volatility in the cryptocurrency market. The nature of investment is uncertainty, you do not know if your investment will go up or it will go down so the expectations should always be flexible. It is okay to take loans and use it as an investments if you are already professional who have years of experience, know how to manage risks and have proven system that can lead to profitability. But if you do not have these 3, then do not try to take loan and invest it immediately.

You must learn from the people who make mistake like this, it is an idiot way to lose your money. Also consider the pressure because it is just the money that you borrow so it can be a double edge sword especially when it comes to your trading performance. I think it is better if you will just invest small amount of money first than to take huge loan and quickly putting it in an assets that is so volatile.

[andriarto]

I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

Is your uncle collecting interest to this childhood friend? Or he just helped and take a loan on its behalf? The problem is the too much trust of your uncle thinking this friend is a reliable person and won't break its promise. But if the money is used to invest in crypto (which we are fully aware how risky it is) chances to lose are possible and in this situation, the friend take a higher risk investing in not established coins.

It's not really advisable to take a loan unless you can pay it regardless of the result of your investment. But if you're just relying on the profit of this investment, that would be a risky thing to do. So don't take a loan to invest and don't ever take a loan just to lend for your friend that he will use to invest regardless how reliable he is. Because you'll never know until you're put in a hard situation.

investing by taking a loan in my opinion is also not in accordance with investment principles, which is that we have to make ends meet first and then we use the rest for investment. burdensome, unless it's for trading and we have the expertise for that, then at any time of course there will be an opportunity to make a profit, but this is indeed more risky

[Dr.Osh]

Yes, it’s really life threatening especially if you have no means to pay for it. I guess you worry a lot, which I also understand because your uncle might lost everything more than he knew it. And with that, there’s nothing you can do but prepare for the future losses.

Why would anyone with a sensible mind even take a loan when there are sure means of repayment in the first? Not to talk about entrusting his investment to a strange, someone he has seen for a while is strange to him cause people can easily change especially when money is involved. The only thing that can cause this is greed for making money.

yes, but the fact is that many people blindly take out loans, even selling all the assets they have for investments that they believe will bring them wealth in a short time. they are truly inspired that the risk is worth the reward, but they forget that all such actions can lead them only to the risk. as long as we have income, put in a few percent to invest, and never take action looking for a loan to invest, especially since the loan is more than we can replace.

[Questat]

I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

Well, the problem with your uncle is he really trusts that person to handle his money and make assurance that it will be back. However, the nature of the market and the coins that the person used to trade are not safe which makes you/us worried about what will happen. But I see we just underestimate the capability of that person, we never know exactly what he can do with these meme coins because we can't deny the fact that some people make a huge profit from investing in them which is also possible. We can't assume everything and the only thing you can do is to help your uncle and make him know the risk that he enters.

[|MINER|]

yes, but the fact is that many people blindly take out loans, even selling all the assets they have for investments that they believe will bring them wealth in a short time. they are truly inspired that the risk is worth the reward, but they forget that all such actions can lead them only to the risk. as long as we have income, put in a few percent to invest, and never take action looking for a loan to invest, especially since the loan is more than we can replace.

First of all I think that trading with loans should not be done, then when someone does not have the ability to repay the loan or only if the profit comes from that trade then it will be possible to repay the loan.  If this is the case, then I think that trading with loans is a lot like hanging from the rope with your own hands. To get rid of it, we must first control our greed. And if you want to trade with what you can afford, always remember that trading gives profit but it also brings a lot of risks.

[Minecache]

Your uncle trusts outsiders more than his own relatives, this is the worst for me. I really can't understand why some people don't trust their loved ones but trust outsiders. Is it for money?

In this case, in my opinion, let him experience it all for himself, although it will have serious consequences for him, but since he doesn't trust you, there is nothing you can do. The only way I can think of is to ask for help from relatives, I think when everyone gives advice, he will think again.

[tvplus006]

The problem of such borrowers is that they are 100% sure that they will be able to increase the amount of borrowed money and it will not be difficult for them to pay off the lender. But when assessing risks, they lack knowledge about the volatility of cryptocurrencies, respectively, they cannot correctly assess the risks, which leads to the loss of borrowed funds.

[AicecreaME]

It's hard to trust your money from a loan to a friend who trades especially when you're far from each other, it could escalate quickly in the worst case scenario. Also, if your uncle doesn't have any source of income, he would only have a headache on where to get money to pay off his loan. I wouldn't even dare to do such crazy thing like that, well maybe if I'm the one who is going to use that loan money in trading.

[goaldigger]

Trusting your friend that much is not easy, it takes a lot of courage to do so especially if its your hard earned money.
Your uncle should know what he is doing, and know that money in crypto is not guaranteed after all. You can just help your uncle to get his money back as soon as possible, maybe there's still money left for him. Taking loan is not good as well, you must be able to pay for that even if the market will not be in your favor.

[carlfebz2]

Trusting your friend that much is not easy, it takes a lot of courage to do so especially if its your hard earned money.
Your uncle should know what he is doing, and know that money in crypto is not guaranteed after all. You can just help your uncle to get his money back as soon as possible, maybe there's still money left for him. Taking loan is not good as well, you must be able to pay for that even if the market will not be in your favor.

When it comes to money then everyone could easily changed out and show off their true colors in a snap specially if you are dealing with a greedy person on which they wont really be minding whether you are a family or close friend it wont matter because everyone could really stab you at the back when it comes to money.

This is why its not really that something recommendable if you do really let other people do handle out your investment or someone who do really make out decisions on what you should buy.

It is true that once things get messed up then conflicts and issues would be raised up on possible extreme or severe manner on which there's no way that it could be easily
fixed specially if it does involved money.

[Johnyz]

Trusting your friend that much is not easy, it takes a lot of courage to do so especially if its your hard earned money.
Your uncle should know what he is doing, and know that money in crypto is not guaranteed after all. You can just help your uncle to get his money back as soon as possible, maybe there's still money left for him. Taking loan is not good as well, you must be able to pay for that even if the market will not be in your favor.

This is a basic rules when it comes to money, trusting can be a big thing and borrowing funds just for trading is not good same thing with gambling.
His uncle should know this already as he is old enough to understand the risk of trusting someone, I'm sure he got betrayed by someone already he should take that as a lesson. Well, money is the root of evil as per many his friend might be more greedy hiding the true transactions under his wallet. If you're into crypto, try to educate more people as much as possible, that can be a big help.

[Smack That Ace]

...
 What would you have done if you are in my shoes?

Your uncle is committing investment taboos, the first is to borrow money to invest, and the second is to trust a friend far away and give them money. He doubled his own risk, I wouldn't be surprised if one day your uncle loses all his money and friendship.
You must be very worried about the future of your loved ones, I have never been through something like this, so I cannot give you any helpful advice. You should quickly find a way to help him or things could turn out worse than you think.

[Pandu Geddon]

It's hard to trust your money from a loan to a friend who trades especially when you're far from each other, it could escalate quickly in the worst case scenario. Also, if your uncle doesn't have any source of income, he would only have a headache on where to get money to pay off his loan. I wouldn't even dare to do such crazy thing like that, well maybe if I'm the one who is going to use that loan money in trading.

borrowed money to trade, chances are the loan was given by someone who knows nothing about crypto. and if the greatest risk occurs, there may be a case of fraud when it is not possible to return the money borrowed until the time of return.
I won't do it, it's bad. but in case of a severe dump of Bitcoin and it is possible to borrow it from a family without a binding return deadline. maybe it can be done, but for Bitcoin investment is not trading.

[Farma]

if I were you, I would do what you are doing right now. tries to explain the risks of crypto trading and the dangers of failing. seeing the condition of your old uncle, and borrowing a lot of money is a mistake if the investment fails. I don't know if this will be life-threatening or not, but I think it will be a huge stress boost when the plan doesn't work out. After all, you warned him, it's just that he's so sure about his friend. all you can do right now is pray and prepare for the worst so you can be relied on when it happens.

[abel1337]

The trust that your uncle is giving is just so much that it can bring the friendship they have into blackhole. One thing I don't understand is the childhood friend of your uncle that accepts the offer of your uncle. He know by himself that he is doing risky trades and investing on a very risky tokens, I don't understand why would you put someone in the same risk as yours knowing that it can put a stain in your friendship if you failed horribly. I'm wondering if that childhood friend of your uncle knows that the money that your uncle gives to him came from a loan. If he knew it from the start, I think that childhood friend is just an a**hole trying to put stain on their good relationship.

[Rigon]

Your uncle did the wrong thing in the first place. Because he involved himself in investing in loans. Second He trusted his childhood friend. Everyone should know never to trust anyone in cryptocurrency. But here since you have knowledge about crypto currency your uncle should have taken advice from you. It is true that his childhood friend bought him the meme coin, so many accidents happened to him. If his childhood friend had invested in Bitcoin it would also have been a reliable investment.

Now my advice to all is never invest with borrowing. It is seen that you have invested with loan but you have suffered a lot of losses due to the fall in the market. You have to pay the money in between, if you don't, the loan amount will continue to increase. There will come a time when your loan amount will double. If you are unable to pay then you may have to sell your house and property to repay the loan. Never invest with debt anyway. If necessary, you invest slowly through working earnings. That investment will be worry free and successful for you.