Quote from: magneto on May 28, 2017, 12:24:11 AM

Quote from: bakada on May 25, 2017, 01:58:23 PM

Feel sorry for anyone who has done a loan not tied to fiat rates. If this trend keeps up I can't see many people honoring their existing commitments.

The price goes both ways - right now the price is crashing and it's actually benefitial for these people who have took out a bitcoin loan at the ATH because now they can buy the exact same amount of bitcoin for less!

If you didn't know already this is how shorting works, basically someone borrowing a certain currency and selling it straightaway as soon as he gets it because he's speculating on a crash on the market.

I wouldnt say its crashing, but it is unstable currently with the value between $1990 and $2300 USD.

To OP, they shouldnt take out loans if they cant stay committed to pay. They might as well go to a bank or a loan shark for fiat cash and deal with them. Unless otherwise agreed on, if you get a loan in btc, you must pay in btc, and not based on how much it worth. Now a lender *might* work something out if the price does spike, but the only way to find out is to ask. They could agree to a payment plan of some sort, settlement, or something.