I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate
Did anyone do this before? Would like some experience advice
Did anyone do this before? Would like some experience advice
There have been many people in here asking about the same thing and I think it's a recipe for disaster and would not recommend it. Invest what you can afford to lose, if you become too greedy it could very well come back and bite you in the ass (and karma says it will). You will live in regret for the rest of your life. Don't do it, if bitcoin succeeds a few bitcoins will be enough to buy a house or two.
Let's say someone took a loan of $100k in september and put it into Bitcoin, he would have made about $900k minus interest in just less than 2 months. There's no going wrong here.
If I take a loan now of $100k and put it into Bitcoin, it might be worth 10x in just a few months. Worst case scenario it will bubble to $9k and back to $1k, then I would have only lost the interest on the loan. It's a winner bet to become a millionaire from just one simple move at the moment, with no losing edge in sight.
Calling a $9k bubble and back to $1k the "worst case scenario"...
Still believe this?
