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    Author Topic: Have you ever borrowed fiat to get btc?  (Read 1780 times)

    • jeanpadel14
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    February 16, 2018, 12:06:44 PM
     #241
    I have not yet borrowed money to buy bitcoin and i will never do that because in crypto world we all know that it has  big risk and we do not know what could happen to bitcoin. Maybe I can only advise those who borrow money to invest in bitcoin you do not have to do this because you can have a bitcoin that does not need the help of others. maybe if the bitcoin cost is lower then you can buy bitcoin.
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  • Nissan-GTR
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    February 16, 2018, 12:10:09 PM
     #242
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

    Not yet, but I am open with this situation, but I have witnessed someone borrowed Bitcoin and paid it with cash which is kind unfair to me cause someone is gaining Bitcoin yet you are buying some, and we can say that bitcoin havent stable price which is kinda tricky for someone to agree with.

  • btcrut2017
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    February 16, 2018, 01:31:09 PM
     #243
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.
    Nope, i have not borrowed fiat to buy bitcoin. I purchase bitcoin by small amount whenever i have extra money from my salary. The amount of money that i allocated for bitcoin is not that huge because if ever bitcoin fails, i would not be stressed out.

  • YoungMaster
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    February 16, 2018, 03:44:11 PM
     #244
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

    I once planed to borrow fiat with my uncle to buy 1-2 BTCs when bitcoin was going to fork (as we know the fork was Bitcoin Cash), but I cancelled my intention because I was a bit worried what if bitcoin prices were going down on that time.
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  • Ashe-J
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    February 16, 2018, 03:50:47 PM
     #245
    Yeah i did on early 2015 when i bought 2BTC .. But after a while they scamed me on "Cloud mining website"

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    February 16, 2018, 04:12:41 PM
     #246
    Yes I did but I don't recommend it. You never know when the price of a certain coin will go up or down. It's more like gambling.
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    February 16, 2018, 04:24:18 PM
     #247
    Quote from: nightxglow on January 07, 2018, 02:39:45 AM
    No, i have not done that. I don't know if i'll do that in the future, but i prefer earning bitcoin freely rather than using my real money though.
    But maybe if there's condition where i need to use my real money for bitcoin, and it'll gain me many profits, i'll consider that and start to do so.
    Since i haven't got a job yet too, so it'll be hard for me to ask for a loan or something since they won't give us if we don't have a proper job and promising salary.

    Your right.
    Also the proper things to do is not by borrowing fiat without any kinds of assurance that you will succeed. Don't pull the trigger without bullets. Too risky to borrow. It will be your whole life forever to pay the price. You are lucky if the owner of the money won't put you in the jail. Patient is a  virtue. Don't too rash and don't too quick to decide without thinking hundred times. Safer things is to wait for your time, when you have enough money and bitcoin price in red drops go buy without any double minded. You own it.! That's yours.
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  • jhonnydeep87
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    February 16, 2018, 10:54:16 PM
     #248
    For me, when it's time to buy bitcoin and now it's a huge profit enough to save money and save right now. Holding bitcoin as the best strategy and all the bitcoin I've bought at that time that I hold will be sold for $ 50,000 whenever the price reaches that price. Cool

  • MarkThief
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    February 17, 2018, 10:29:03 PM
     #249
    Are you insane? We cant have trust on the voltile btcs. I would never ever invest in them.

  • Roukawa
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    February 17, 2018, 10:37:24 PM
     #250
    Nope! Not yet, I will not risk to loan just to make it an investment in cryptocurrency. I do not assure if crypto is really profitable and real because I did not see it in physical world. If I will borrowed money, I will invest it in real world. I can wait till I do have enough money to put in cryptocurrency. Better to wait than to suffer from stress that will link to depression.

  • aoluain
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    February 17, 2018, 10:37:45 PM
     #251
    This is one of the feasons why south korea for instance are introducing a
    degree of regulation in crypto. Some people were loosing the run of
    themselves on the run up to BTC high price of almost $20,000.

    The regulation is in a way to protect the users of crypto, that was the
    reported news anyway.

    Borrowing fiat to invest in crypto is dangerous, only use what you are willing to loose!
     
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  • jonas5222000
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    February 17, 2018, 11:10:00 PM
     #252
    yes i do. some of exchanger has a minimum deposit and withdrawal so i need to get reach the minimum withdrawal to payout bitcoin i borrowed to my friend and pay him after payout.
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  • sirkings0003
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    February 17, 2018, 11:19:29 PM
     #253
    I have done that once. I borrowed a few dollars to buy bitcoin when it was around $8,000. I am meant to pay with little interest anyway. Man got to this for my passion. I love the idea behind bitcoin.
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  • Tenderino
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    February 17, 2018, 11:22:51 PM
     #254
    I generally do not borrow fiat money, because I think if I have small money I have to try living with it. But if I would have known few years ago how bitcoin or crypto currencies in general will grow, I would have taken all credits I was able to get. Smiley I think now it is too late to borrow fiat money to invest in bitcoin and if I have the money, I would rather invest in some promising altcoins.

  • halenephthys
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    February 17, 2018, 11:42:06 PM
     #255
    I haven't borrowed fiat just to get btc. As they are many ways to earn bitcoin other than buying and it will be a risk. Bitcoin price is volatile. It may change from time to time. You will either earn more or lose what you have. You may not be able to return what you borrowed. But if you are willing to take this risk to earn more, then you are free to do it. Just be careful. And be wise.
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  • arbelian
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    February 17, 2018, 11:47:49 PM
     #256
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

    I did not borrow fiat just to buy bitcoin and other crypto currency. I used some of my savings to invest and the rest i had been working on the different campaigns to earn coins.

  • xieqieshangu9
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    February 17, 2018, 11:52:02 PM
     #257
    I think a lot of people have done that!

    When the price of BTC is around February 10th, when the price is more than 6000, your purchase means you are making money!

    If you want to buy BTC and have no money to buy, you can only borrow money.

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    February 17, 2018, 11:52:55 PM
     #258
    Quote from: Fnrecana on February 16, 2018, 11:57:44 AM
    Nope i haven't done that and i would never do that. Investing in cryptocurrency is too risky and i don't want to have debt because of it. I will only invest if i have enough money for it. What i am doing right now is to earn through bounty campaigns. If i succeed in earning from it then that money i earn will be my investment from it.
    Wise choice. Never invest what you can not afford to lose. There are many easy ways to get bitcoin if we want to learn and try. Do not sacrifice anything we have for something that is not sure unless we are ready to face the risks of preventive action. Like preparing the right analysis and not putting all the eggs in one basket.

  • DoublerHunter
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    February 18, 2018, 02:17:26 AM
     #259
    Quote from: danggoron on February 17, 2018, 11:52:55 PM
    Quote from: Fnrecana on February 16, 2018, 11:57:44 AM
    Nope i haven't done that and i would never do that. Investing in cryptocurrency is too risky and i don't want to have debt because of it. I will only invest if i have enough money for it. What i am doing right now is to earn through bounty campaigns. If i succeed in earning from it then that money i earn will be my investment from it.
    Wise choice. Never invest what you can not afford to lose. There are many easy ways to get bitcoin if we want to learn and try. Do not sacrifice anything we have for something that is not sure unless we are ready to face the risks of preventive action. Like preparing the right analysis and not putting all the eggs in one basket.
    Investing is good as long as you are not risking yourself because putting all of your money in one basket is just like a suicidal act because you will have a lot of problems to expect and it is best for you if you will just invest into good coins in the market and keep it on a safe place and also, always invest the amount that you can lose so you can forget about it temporarily to have an effective way to hold.

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    February 18, 2018, 02:39:44 AM
     #260
    Nah, its not a good start when you invest in a field with a high level risk. When you start with a debt you will end up with debt as well, its definitely not a healthy investment, trust me. Start with your own wallet no matter how small it is, it'll come back to you a thousand folds in the long run.
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