Quote from: KingsDen on Today at 11:21:59 PM

Quote from: Cannabijoy on Today at 10:34:29 PM

This seems like a smarter move than to sell the Bitcoin for fiat money. If I sell, then I have to pay capital gains tax. When the cash is borrowed, there is no tax. Since I still have the Bitcoin, then I will gain when the price rises. If I only have fiat, the “price” will always go down because of inflation.

Does anyone else plan on doing this?

I have been trying to get the real picture of what you meant. I read through twice and I was able to understand that;
When you have enough bitcoin maybe amounting to $100,000 you will have to borrow fiat of half the value. Let's say $50,000 and use your bitcoin as a collateral. When your bitcoin rises to Let's say $130,000 you will pay your debt with the bitcoin and still have enough left in bitcoin. The whole scenario was sounding fine until you said that you will clear the debt without selling the bitcoin. Let's assume it was a mistake.

Meanwhile, how long loan are you gonna get, how will you know if bitcoin will bull or bear and how will you be able to prove to the lender that you own the bitcoin. By sharing the address for him to checkup on blockchain? Not a good idea, or by sharing your secret keys, not also a good idea or by showing the person your bitcoin balance?

Please explain your idea very well.

Not exactly. I don’t plan to live on Bitcoin alone. I will still have a job that ensures I can make the payments until I invest in enough things that offer a steady return.