Shall I take out a high interest rate loan to buy more Bitcoin?

[blatchcorn]

I cannot resist these cheap coins 

[yokosan]

100% yes. You wont regret it.

[vlad12]

Yes, but only if the interest is high.

[Melbustus]

Do you have the ability to pay it back if things don't go your way? Or if things take years to go your way?

Make sure you can stay solvent for longer than the market can stay irrational.

[scv00]

I would not risk taking anything from a company called kneecap finance or similar loan sharks.

[JimboToronto]

Shall I take out a high interest rate loan to buy more Bitcoin?

Only if you're borrowing from your own other investments.

That's what I'm doing to buy during these times of falling prices, re-allocating my own capital.

[guy_wonderful]

OP remembers me long time ago. I once took a high interest loan of $5000 ,
Lost it all in 2 days on FX markets, after got $10k in total.
The good point of the history is that loan was taken but not by my face.
FAIL or win?

Something I learned:
If you risk money with isn't yurs. Like loan one. Very hard (almost impossible) to make "right decision", because Hard earned money and fast money have very different feelings. If you invest hard earned money every movement of investing will be deliberate and precise, which is most important in investing. From that rule investing becomes a real job and profits becomes hard earned money.

[mb300sd]

Some guy took out a student loan to buy BTC right before the $1000 run up.

[romneymoney]

You could buy BTC and sell it back to make each payment.  If it goes up, you can repay it easily and have some leftover, if it stays flat, you lose the interest, if it goes down, you need to figure out how to make the last payments.

[Dilla]

Extremely risky. Bitcoin is already high risk/high reward. Why bet with money that isn't yours, on high interest on top of that? I think the only time I would was on a FOR SURE upswing rally, even then I would rather dip into my savings and pay that back over a high interest loan. Not this sideways downwards staircase we have been on for months.



"MAH! I NEED MORE MONEY FOR BITCOINS!" (May work too)

[600watt]

i feel also tempted. sell the gold or not...


 

[yokosan]

For those in the UK why not try https://www.quickquid.co.uk/

Only 1999% APR Representative. Bitcoin already rose 4000%, it only has to do that once more and you will double your money!

If everybody uses this exemplary service we will push the price up together and ride unicorns into the sunset.

[Chuckee]

What could possibility go wrong?

[600watt]

What could possibility go wrong?

a worst case scenario would be this:



price could rise before loan is granted.



 

[btcapparel]

no, dont do it

[Wandererfromthenorth]

That would be irresponsible to a magnitude never seen on this earth.

[exocytosis]

Yes, and you should also sell your children to a child slavery ring. And sell your kidneys, heart, brain and other organs to a back alley surgeon.
Can't get enough of these cheap bitcoins. To da moon! 10k before tomorrow.

[Wilhelm]

Great idea you will have years and years of pleasure from it.
Why not throw in a kidney or a lung, they are redundant organs. You can buy them back once you're rich!!!

It's a win win !!!

[KJO]

It depends whether or not there is a security interest.

[Nrcewker]

Now the Bitcoin prices should have been to the bottom, Buy more, Earn more