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Re: When is it useful to borrow bitcoin?
by
RealBitcoin
on 22/08/2015, 19:56:55 UTC
When is it useful to borrow bitcoin? Considering that it is really hard to get a loan here on this forum even with escrow, and the plentiful amount of scammers floating around here, is there really a great reason to even bother getting a loan here? I mean unless you're flat broke I could understand but even still it's an uphill battle. It's way easier to take out a cash advance in an emergency. I suppose if you're dealing with a trusted borrower and trustworthy escrow you may have a chance in obtaining your funds. Other than that, it can be difficult for a scam-less transaction to take place.

Probably never, becaause bitcoin is a deflationary market, and if you borrow 1 btc at 200$ market price.

Then you use the 200$ to buy whatever, then if the btc price goes to 1 million $, then you owe 1 million $ which you cant pay from your salary.

Only inflationary currencies are worth using for credits like EUR,USD,JPY, and the rest of the fiat which is devalued and printed like crazy.