Quote from: Cling18 on May 07, 2023, 03:15:37 PM

Quote from: blockman on May 07, 2023, 02:54:36 PM

Quote from: Lubang Bawah on May 07, 2023, 01:40:42 PM

Borrowing money for bitcoin investment is of course a good thing,

You'll have to pay the interest of that borrowed money. What if you've loaned money to buy bitcoin just after the bull run and the bear market came? This is the worry that many are thinking about because a lot of people did that before and they did it on the wrong time.
Not saying that someone can just do it on the right time because you'll never know the circumstances that you'll be facing on the right time and if you'll be able to borrow money. We all believe that the price of bitcoin will rise for the next couple of years but still, you'll be taking a debt and you're obliged to pay for it while we're not yet profiting from the purchased bitcoin and you'll have to pay it with the fees and interests.

Although it seems risky, investing borrowed money in Bitcoin is actually a fantastic option but we should never forget that the price of Bitcoin fluctuates too much, and the bullish season is never foreseeable. When it comes to investing in cryptocurrencies, it will be a better idea to use our hard-earned money or the money that we can only afford to lose because it is always crucial that we will be responsible in utilizing our borrowed funds and we have to make sure that we can pay it back on time. We won't know when we can take the desired goal profit if we invest our borrowed money in cryptocurrencies, which could result in even worse repercussions from the loaning and jeopardize our financial situation. I like the concept of saving money to invest to the idea of borrowing money to invest.

I don't see it as a fantastic option because it's not really a good choice using loan money to buy a very, highly volatile asset as bitcoin. We don't want to get in debt and that's not the best option for the majority but if someone thinks that he's good with it and can survive then let him do his own take with that. But if the time comes that he's not able to pay the loan and he's only reliant to his profits in bitcoin, he'll for sure needing to do something with that and cover it with his other source of income if the market don't do great.