borrow money from teh bank.. then inject it straight to BTC.

[hdbuck]

this is how you do it.

[nuff]

this is how you do it.

yep, this is how you win in life

[kingscrown]

just do it!

[Klubknuckle]

Borrow money? Bad advice.......

[Cluster2k]

If you're confident bitcoin will go up in price then yes, borrow money and buy bitcoin.  Even cash advances from your credit card should be maxed out.  What's the interest rate?  Maybe 20%?  That's nothing compared to bitcoin's ability to double in price over a matter of days or weeks (see 2013).

Just be aware of what happens if bitcoin falls in price while you're forced to make regular repayments to the bank.  Gamble responsibly.

[phillipsjk]

If you're confident bitcoin will go up in price then yes, borrow money and buy bitcoin.  Even cash advances from your credit card should be maxed out.  What's the interest rate?  Maybe 20%?  That's nothing compared to bitcoin's ability to double in price over a matter of days or weeks (see 2013).

Just be aware of what happens if bitcoin falls in price while you're forced to make regular repayments to the bank.  Gamble responsibly.

I would not advise maxing out your credit card for this. While in the past, the price of Bitcoin has grown like 10,000%/year (100x), that is less likely to continue every time that happens.

My bank did recently offer to extend my credit limit. I plan to purchase about $850 worth every month for 3 months: leaving my original credit available. I also have a "low fee" credit card ("only" 11.99% annually). I do expect the price of Bitcoin to exceed that growth, but have no idea if it (a doubling) will actually happen before 2016.

[Omikifuse]

What if something bad happens and I need the money before we reach moon?

[phillipsjk]

What if something bad happens and I need the money before we reach moon?

sell Bitcoin.

It is not the end of the world if you do that.

Being able to do that requires the ability to secure said Bitcoin. Cold-storage helps: even against scammers pressuring you to "sell" your whole stash (ask me how I know).

[Omikifuse]

What if something bad happens and I need the money before we reach moon?

sell Bitcoin.

It is not the end of the world if you do that.

Being able to do that requires the ability to secure said Bitcoin. Cold-storage helps: even against scammers pressuring you to "sell" your whole stash (ask me how I know).

Then I will be at loss and maybe with debits, so maybe worse than at the beginning

[wamatt]

Courage wolf has taken out a second mortgage on his family's home, and now using full leverage to margin trading at Bitfinex

[av123]

I took advantage of a 0% offer for 12 months. I only had to pay 2% of the total advanced. Kind of a no brainer really. Will pay off the balance over 12 months before the interest rate resets. Everyone's situation is different of course.

[tpiardi]

At least here where I live the interest rate of banks is too big...
I'm trieying to get money in other forms to invest...

[phillipsjk]

Then I will be at loss and maybe with debits, so maybe worse than at the beginning

Debts.

It is a real risk. Last October/November, I resisted the urge to take out a loan to buy Bitcoin. This was despite my confidence that the price would not drop below $300 if it ever surpassed $300. I still doubt Bitcoin will drop much below $300. If true, that would mean you would lose at most half of your investment. There is also a non-0 chance that Bitcoin will become worthless as well. The chance of that happening actually drops every year as Bitcoin matures.

[seljo]

If we all, I mean literally all did this and just ignored payments to the bank and let the bank take our houses and cars... we would be filthy rich and they would be left on a pile of used cars and other shit.  

[phillipsjk]

If we all, I mean literally all did this and just ignored payments to the bank and let the bank take our houses and cars... we would be filthy rich and they would be left on a pile of used cars and other shit.  

Ya, but where you store your private keys with no house/car?

[seljo]

If we all, I mean literally all did this and just ignored payments to the bank and let the bank take our houses and cars... we would be filthy rich and they would be left on a pile of used cars and other shit.  

Ya, but where you store your private keys with no house/car?

Did you read the filthy rich part? Brainwallet?

[Elwar]

I borrowed last night from a guy named Vinnie in my neighborhood to buy bitcoins. I am sure this will work out.

[Thomas-s]

I borrowed last night from a guy named Vinnie in my neighborhood to buy bitcoins. I am sure this will work out.

Sounds like a nice guy.

[TonyT]

Courage wolf has taken out a second mortgage on his family's home, and now using full leverage to margin trading at Bitfinex

The wolf will be at his door then...pun intended.

In defense of speculation however, a study once found that multi-millionaires became such by simply assuming more risk.  For every multi-millionaire that's praised however, there's an even greater number of risk takers (due to the nature of risk/reward) that you never hear about because they went broke.

[DeadCoin]

I borrowed last night from a guy named Vinnie in my neighborhood to buy bitcoins. I am sure this will work out.

Vinnie Jones?

http://www.youtube.com/watch?v=X2P9gGElMB4