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Pejoh Asu
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April 10, 2023, 06:18:41 AM |
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In my opinion, to change our lives for the better, we have to be willing to take risks, of course, everyone understands that the risk of investing in bitcoin is very high, but if we don't dare to take risks, we don't have a chance to get big profits. so in my opinion we have to be brave in investing in bitcoin even though we have to take a loan.
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19Nov16
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April 10, 2023, 03:38:03 PM |
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There are bad debts and there are good debts. Bad debts- loaning money to buy a car that won't be used for business ( Uber, Bolt). Loaning money to buy a pair of shoes, clothes, a piece of furniture etc.
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
One of the popular pieces of advice you'd hear in the Bitcoin space is to never borrow to invest in it.
Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
.. I think lending money to invest in bitcoin is a good thing, the potential for the price of bitcoin will continue to rise because it has been proven so far, we can do opportunities to improve our lives and the future by taking risks, as long as we don't dare to take risks, our lives will not change. will improve but will continue to decline due to factors of subsistence needs and inflation that continues to occur. |
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Twentyonepaylots
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April 10, 2023, 04:01:14 PM Merited by fillippone (1) |
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If you know yourself that you can manage your borrowed money correctly and you can grow it, do it. However, if you do this without concern, the money you borrow will only be put at risk or go to nothing.
Aside from this, it's also important that you are not just relying on the investment that you'll be entering in to pay your debt. Always think of the worst that can happen because investing is risky, and have another plan just incase. It's a good debt if you'll use the money to make more money and would not use it for luxuries. However make sure that you have the capabilities to repay your debt even your investment didn't work well. Anyway, dont borrow if you can just to invest, much better to use your own money when you invest so less stress in your part and you won't be pressured. This is a good idea since if you are capable enough in terms of your salary to pay the loan that you invest, it is good debt to consider. You are paying the debt and over time the money you invest would take profit but take note that this does not guarantee anything. It is very risky to invest on crypto, but when it comes to bitcoin specifically, I can see its potential and I know that it can peak again in the future. In my opinion, to change our lives for the better, we have to be willing to take risks, of course, everyone understands that the risk of investing in bitcoin is very high, but if we don't dare to take risks, we don't have a chance to get big profits. so in my opinion we have to be brave in investing in bitcoin even though we have to take a loan.
I agree, you really need to put yourself into situations with uncertainty to really progress as an individual and taking risk is one way to go. Know that higher risks will be the only one that could offer you higher returns. It takes a brave soul to take this step and I soon want to take this step to make my life be better. |
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fadhilz123
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April 10, 2023, 04:24:28 PM |
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In my opinion, to change our lives for the better, we have to be willing to take risks, of course, everyone understands that the risk of investing in bitcoin is very high, but if we don't dare to take risks, we don't have a chance to get big profits. so in my opinion we have to be brave in investing in bitcoin even though we have to take a loan.
It seems that the advice you give is a little unhealthy in my opinion. Because when you know that investing in Bitcoin is a risky job, why would you even tell other people to take loans and put them into investments that are clearly at risk? This kind of suggestion is very strange in my opinion because some other people even forbid everyone not to invest with borrowed money, but you instead tell other people to do it without considering any pressure in terms of borrowing. Even though every loan is an obligation to be repaid and when a person has not benefited from his investment, where will he repay the loan? Now try to think more logically even though everyone who wants to profit from Bitcoin must be willing to take risks by investing, but that does not mean that they have to advise everyone to take out a loan to do that. Because investing by forcing yourself is also not a good choice, but investing according to our capabilities is a wiser choice in my opinion. |
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uswa56
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April 10, 2023, 05:15:20 PM |
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In my opinion, to change our lives for the better, we have to be willing to take risks, of course, everyone understands that the risk of investing in bitcoin is very high, but if we don't dare to take risks, we don't have a chance to get big profits. so in my opinion we have to be brave in investing in bitcoin even though we have to take a loan.
It seems that the advice you give is a little unhealthy in my opinion. Because when you know that investing in Bitcoin is a risky job, why would you even tell other people to take loans and put them into investments that are clearly at risk? This kind of suggestion is very strange in my opinion because some other people even forbid everyone not to invest with borrowed money, but you instead tell other people to do it without considering any pressure in terms of borrowing. Even though every loan is an obligation to be repaid and when a person has not benefited from his investment, where will he repay the loan? Now try to think more logically even though everyone who wants to profit from Bitcoin must be willing to take risks by investing, but that does not mean that they have to advise everyone to take out a loan to do that. Because investing by forcing yourself is also not a good choice, but investing according to our capabilities is a wiser choice in my opinion. that's very bad advice in my opinion but that's how people with different thoughts, whether they don't think logically or they are too sure that investment can be successful without any risks to be faced but it would be nice if big risks were taken enough for themselves without must recommend to others. Debt is a risk especially when it is due to be paid, and no one knows for sure in the future Bitcoin, the price of Bitcoin moves fast enough to allow anything to happen and when the debt is due there is no guarantee that the price of Bitcoin will soar. do will benefit. in terms of investing and also debt, we have to think clearly and have to think about all the possibilities that will happen. |
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BVeyron
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April 11, 2023, 03:00:56 PM |
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There are bad debts and there are good debts. Bad debts- loaning money to buy a car that won't be used for business ( Uber, Bolt). Loaning money to buy a pair of shoes, clothes, a piece of furniture etc.
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
One of the popular pieces of advice you'd hear in the Bitcoin space is to never borrow to invest in it.
Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
Investing in BTC after borrowing is risky due to bank fees, which will most probably be higher than amount of earnings in fiat. As for long-term saving in BTC, then it is doubtable that it will raise up 10 fold or something like this, so such investments made up with borrowed money won't raise funds heavily, but will most probably be above zero. So, IMHO, BTC can be considered a good debt only if bank fees are not too high, in all the other cases it is closer to a bad debt... |
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Jody.Drummer
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April 11, 2023, 04:00:54 PM |
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In my opinion, to change our lives for the better, we have to be willing to take risks, of course, everyone understands that the risk of investing in bitcoin is very high, but if we don't dare to take risks, we don't have a chance to get big profits. so in my opinion we have to be brave in investing in bitcoin even though we have to take a loan.
I think in this case even though all actions must have real risks and must be faced, that does not mean that all behavior must be based on these risks. Being in bitcoin is pretty good but it doesn't mean as if we just rely on that alone because this kind of thing is also not very good in my opinion. Bitcoin is definitely a form of investment that is quite promising at the moment, but that doesn't mean that we have to depend all of our fate on Bitcoin. because indeed when something like this happens you will only be focused on profits later and when bitcoin crashes you can make your dependence falter which makes you feel cheated by it. Invest properly and never assume that this is one of the beliefs that you can be really rich just by investing in bitcoin because the condition is that sometimes there are things that happen without us wanting. |
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tjtonmoy
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April 11, 2023, 04:57:17 PM |
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Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
There's nothing to classify here. It is advised that you only invest what you can afford to lose. So borrowing money to invest in bitcoin is never a good strategy. I guess many people will still do this, but if you see their past, then you will have your answer. Some gets lucky, some doesn't. In order to get out of this situation, they take more loans, thus complicating their life even more. Invest as much as you can afford, don't take loans and make your life hard. Bitcoin is a long term investment asset. So if you have the will to hold it for that long, then you can put money into this investment little by little for a long time. Actually, it is better to DCA for a long time to get the best result. That way, you can keep your money and your profits to yourself and never have to worry about borrowed money. |
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abralzain17
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April 11, 2023, 08:53:05 PM |
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There are bad debts and there are good debts. Bad debts- loaning money to buy a car that won't be used for business ( Uber, Bolt). Loaning money to buy a pair of shoes, clothes, a piece of furniture etc.
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
One of the popular pieces of advice you'd hear in the Bitcoin space is to never borrow to invest in it.
Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
I think borrowing money to invest in Bitcoin is a good debt classification, because its value will continue to increase over time. but even though this investment is classified as good debt, we must not forget that investing in bitcoin is a step full of risks, this is due to uncertain or fluctuating market conditions. with the magnitude of the risk, we also need to understand the right way to invest by using borrowed money or debt. |
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concept2
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April 14, 2023, 08:01:02 AM
Last edit: September 23, 2023, 07:41:26 PM by concept2 |
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...
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
Time for the OG good debt vs. whack debt debate. Discuss what distinguishes them. Bad debts are when you buy cool furnishings or a new car without making money or increasing in value. However, good debts, like exquisite wines, improve over time, like investing in sick real estate or glamorous precious metals. Let's become political and ask, "Is Bitcoin a good or bad debt?" Some say it's a good debt because it might rise in value, while others think it's crazy due to crypto market instability. Keep it 100 and state borrowing money to buy Bitcoin should only be done after careful consideration of the risks and rewards. Keep it lighthearted and say, "Don't worry, dude—I got you! We can create our own cryptocurrency if Bitcoin drops! Create 'ChatCoin' and let it rain!" |
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Doan9269
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April 14, 2023, 09:02:36 AM |
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In my opinion, to change our lives for the better, we have to be willing to take risks, of course, everyone understands that the risk of investing in bitcoin is very high, but if we don't dare to take risks, we don't have a chance to get big profits. so in my opinion we have to be brave in investing in bitcoin even though we have to take a loan.
There's no good debt or bad debt, we need to make decisions on our own wether to risk taking a loan or not after considering the terms involved in taking the loan, if you defaulted and the consequences behind it, there's no limits to the extent they can claim vack their money even if it involves seizure of any of your asset, some loan don't change life for good but rather worsen it especially when repayment becomes a difficult task. |
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mvdheuvel1983
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April 14, 2023, 09:10:17 AM |
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Person A may have borrowed money to invest in Bitcoin and may have made significant profit. Then you on the other hand see them, may decide to go and borrow money to invest in Bitcoin and it is at that time the Market crashes and then you run into significant loss. We must not put real estate investment, and Bitcoin investment together. One is supported by the government while the other is not. And while you may be safe with borrowing to invest in real estate, you will be in the danger zone if you do so with Bitcoin. With Bitcoin there's no good debt or bad debt. There's just debt. Avoid it.
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posi
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April 14, 2023, 09:30:33 AM |
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In my opinion, to change our lives for the better, we have to be willing to take risks, of course, everyone understands that the risk of investing in bitcoin is very high, but if we don't dare to take risks, we don't have a chance to get big profits. so in my opinion we have to be brave in investing in bitcoin even though we have to take a loan.
This is true, it is necessary to step out of your comfort zone and face challenges to succeed. But you also need to carefully consider, evaluate and measure the level of risk you will face if your investment or business fails. I mean that you should only borrow enough money within your ability to pay and can not borrow an amount that is too large for your income. Because if the investment fails, you will be even more stuck when the amount of debt to pay is too large compared to your ability. |
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ItsCrafty
Full Member
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Activity: 826
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Tontogether | Save Smart & Win Big
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April 14, 2023, 10:12:10 AM |
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Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
Bitcoin investment is considered secure and it's also true that Bitcoin will increase after every dump But as far as borrowing is concerned, there are some drawbacks. Bitcoin price is volatile and we don't know the low price of Btc form where it will rise again. Let's suppose you took out a loan for one year in 2021 to buy btc when btc was above 50k. now you have to pay Now you have to repay your loan but you have not made profit yet and you have no other sources ti refund back then finally you will sell Btc in loss. Borrowing for Btc can be beneficial when you have other means of repaying the loan so if Btc did not rise in two years and you can hold strongly. |
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Rockstarguy
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April 14, 2023, 10:27:49 AM |
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I think borrowing money to invest in Bitcoin is a good debt classification, because its value will continue to increase over time. but even though this investment is classified as good debt, we must not forget that investing in bitcoin is a step full of risks, this is due to uncertain or fluctuating market conditions. with the magnitude of the risk, we also need to understand the right way to invest by using borrowed money or debt.
It is good only if one is very sure to be able to pay back without being stressed and not hoping that the loan will be payed from bitcoin profits. Some people take loan and think in a short time they will gain profits from bitcoin that can be used to pay their loan. Bitcoin is volatile and no one can tell when profits is taking place, if people are taking loan to pay back from their bitcoin investment I think it is not a good idea because the risk in it is so high. People should invest in bitcoin and should not depend on their investment in their own timing. I only encourage taking loan to invest in bitcoin if only the repayment of the loan is for a longtime. |
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Semar Mesem
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April 14, 2023, 03:26:23 PM |
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I think good debts, this is because the potential for this year's bitcoin is very good and promising, especially if we take a long-term loan for example 5 years then the opportunity for profit is very large, the main key to profit is being patient and not panicking when prices drop.
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Ucy
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April 14, 2023, 04:17:09 PM |
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There are bad debts and there are good debts. Bad debts- loaning money to buy a car that won't be used for business ( Uber, Bolt). Loaning money to buy a pair of shoes, clothes, a piece of furniture etc.
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
There are many poor people who invested their loan wisely likewise the rich. Ofcourse, I know some will wonder why they haven't become rich if they really invest their loan wisely. It is possible they are destined to be poor (being poor is not a bad thing, being needy is the issue), they have too many dependants and choose to live poor/humble life to be able to support others, etc By the way, I wonder if it's OK to consider people who borrow to build private mansion, own exotic cars, watches etc as poor? There are many "rich" people in the world living this way with borrowed funds or money they don't deserve which is technically borrowed/stolen. One of the popular pieces of advice you'd hear in the Bitcoin space is to never borrow to invest in it.
Despite the volatility, our hope is that Bitcoin will appreciate in value.
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
You should only borrow to invest in Bitcoin & others if you are sure of paying back promptly with profit from your Bitcoin investment otherwise don't borrow, or use collateral while borrowing. Very few people are sure |
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yohananaomi
Sr. Member
Offline
Activity: 2366
Merit: 267
Vave.com - Crypto Casino
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April 17, 2023, 12:21:59 AM |
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I think good debts, this is because the potential for this year's bitcoin is very good and promising, especially if we take a long-term loan for example 5 years then the opportunity for profit is very large, the main key to profit is being patient and not panicking when prices drop.
in your opinion it's good, if possible you can pay well the installments that must be paid, but if you can't afford to pay it will add interest to the principal of the debt and of course it will increase the debt, of course it won't be useful. Even though the debt is for buying bitcoins which you can be sure can provide benefits after the halving period, if you make it difficult for yourself so that it causes bad debts with increasing interest, of course it is not recommended to do that. everything is also adjusted according to the situation from yourself, how to repay it, if you can still afford it, of course it is very profitable and I agree with you. |
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andriarto
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April 17, 2023, 02:32:04 AM |
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I think good debts, this is because the potential for this year's bitcoin is very good and promising, especially if we take a long-term loan for example 5 years then the opportunity for profit is very large, the main key to profit is being patient and not panicking when prices drop.
in your opinion it's good, if possible you can pay well the installments that must be paid, but if you can't afford to pay it will add interest to the principal of the debt and of course it will increase the debt, of course it won't be useful. Even though the debt is for buying bitcoins which you can be sure can provide benefits after the halving period, if you make it difficult for yourself so that it causes bad debts with increasing interest, of course it is not recommended to do that. everything is also adjusted according to the situation from yourself, how to repay it, if you can still afford it, of course it is very profitable and I agree with you. right, everything must be measured on one's own abilities. taking on debt to buy bitcoin is not something simple, from our source of income to needs and installments every month, and maybe there are other needs. if it is felt that it does not interfere with our monthly living expenses it may not be a problem, assuming we buy bitcoin in installments, especially at prices that are currently very good for investing. but if without calculating it all, of course it can make a psychological attack on us |
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Poker Player
Legendary
Offline
Activity: 1372
Merit: 2015
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April 17, 2023, 04:50:18 AM |
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There are bad debts and there are good debts. Bad debts- loaning money to buy a car that won't be used for business ( Uber, Bolt). Loaning money to buy a pair of shoes, clothes, a piece of furniture etc.
Good debts - loaning money to purchase something that would appreciate in value over time. Real estate, precious metals, commodities etc.
They say poor people have bad debts and rich people have good debts.
...
Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?
You forgot to say that, according to whoever popularized that definition, good debts give you positive cash flow, and that does not happen with Bitcoin, no matter how much return you get from capital appreciation, so it would be bad debt, also too subject to volatility. When you have a loan you have to face payments every month, and a good debt would be for example that of a mortgage in which if you have to pay $400 a month, what the tenant pays you after deducting expenses is $500, so you have $100 of positive cash flow. With Bitcoin if it goes up a lot you can make partial sales, but there are also periods of bear market when it drops from $69K to $15, and if you have borrowed to buy when the price was at $60K or more, let's see how you manage to afford the payments. Therefore, it is not a good idea to go into debt to buy Bitcoin, and although in principle we can consider that it is better debt than taking a loan to go on vacation, it is not good debt. |
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