Re: When is it useful to borrow bitcoin?

If you have an idea for a possible productive opportunity which you think you can make a reality then taking a small loan may be justified unfortunately most of the loans in the forum are for gambling and stuff like that.

There are people who taking out long term loans for business purposes. This is an example of a good purposes that a borrower do.

But for gambling purposes which the output is not that clear then that is really a shit if people will borrow just for that even for a small amount.

Those kind of borrowing money would be very useful and wise thing to do because you use it for business purposes and you could able to gain profit with it. Borrowing money for the sake of gambling then as you said its really a shit thing to do and you make yourself put into a big problem in the future,

Yeah and the problem is widespread, I do not go to the lending sub forum that much but out of curiosity I saw some threads and a lot of users asking for a loan are doing it for gambling purposes.

Borrowing money for gambling is not a good idea on any way because it would put you into deep debt on long run especially when you are using it for gambling and as we all know that gambling would definitely lose up our money and doesnt guarantee sure profits.

Yeah and I think if the lender is going to ask you and you are going to answer that for sure the lender will going to back off and not going to reply to you anymore. Because why you are going to borrow just for gambling? The chances of winning in gambling is like 1/100 and how you are going to pay that debt if you got lose?

In fact you are mistaken as I have said if you go to the lending sub forum you will see people asking for loans for the explicit reason to gamble that money and they still get the loan if they are offering collateral.

Correct, lenders would not mind if what purposes does the borrower have as long he has a good collateral on his loan amount then they would surely agree on the transaction because no matter what happens to the money of the borrower the lender wont mind at all since its his responsibility to repay back the loan amount or else hes collateral would be at risk.

As an example it can be good to borrow some bitcoin when you really need the money to set something up or because of the fact that you need to pay something really bad.
The last reason is not the best reason to borrow bitcoins but of course its an option you can take.