Quote from: Mr.right85 on Today at 09:07:43 PM

Quote from: Khanvila78 on Today at 05:36:50 PM

JUST IN: Bitcoin miners have borrowed $4B against their equipment - Bloomberg 😳

Bitcoin will get to $250K “by late 2022 or early 2023" says Tim Draper.

Source:https://twitter.com/BTC_Archive/status/1540723317790937090

I see this and I wonder,

What happened to the "Do not borrow to invest idea or principle"
Perhaps it's the trick on how they stay ahead?

But wait, they might have means to make up for any unexpected lose.
In the end, don't just jump in on a plan when you don't know the plan B!!!

Quote from: LFC_Bitcoin on Today at 05:43:03 PM

Late 2025

This tells you, bitcoin is best for long term investment. You've got to be cultured enough to exercise years of patience and crypto is not some get rich, escape from poverty scheme. This idea gets you mixed up with pump and dump altcoins. Be patient wth bitcoin!!!

I agree with everything that you are saying Mr.right85 - except your belief that there is a rule about not borrowing to invest. Historically, lots of folks get rich as fuck by borrowing to invest and also have been able to enjoy life much more because of their being able to front load investment and/or consumption.

Of course, the whole fucking debt system has both gotten out of hand, and has shown a lot of its flaws and inequities in recent times... but we do not necessarily need to get into system-wide issues regarding the many ways that the debt system is flawed in order to also understand that in an individual level there can be a lot of ways to employ debt wisely and also to put yourself in a much better place than you would have been able to do without the employment of debt.

I will point out that you have already implied the answer to the question that you posed in terms of how normies may get fucked by debt by either not having a plan B and/or by overdoing it (using debt to gamble in excessive ways). I doubt that I really need to go into details on these points in order that any of us might be able to appreciate examples of good use of debt and bad use of debt and even appreciate the difference between reasonable kinds of gambling and/or investing and unreasonable/excessive kinds of gambling and/or believing that you are investing when you are not.

Don't get me wrong, there may well be some cases that are ambiguous and fall in the middle and they may or may end up working out.. perhaps based on good luck or bad luck.. and sometimes mistakes are made too. Sometimes a guy might engage in some risky gambling efforts to bet 8x than the BTC price is going to go up, but then accidentally bet 80x, and frequently that bet will cause him to get reckt, but every once in a while, he ended up getting lucky when the mistake paid off because he recognized the mistake after it had already caused unexpectedly larger profits than had been expected.

Quote from: Hueristic on Today at 09:34:53 PM

What's it mean?

hahahaha