Quote from: xSkylarx on Today at 10:13:22 AM

Quote from: Synchronice on June 21, 2023, 07:35:53 AM

Quote from: alastantiger on March 30, 2023, 09:10:42 AM

Would you classify borrowing money to invest in Bitcoin as good debt or bad debt?

Depends on the interest rate of your bank. If it's two digits, on the upper side (20-30-40 percent), then it doesn't worth the risk to my mind but if it's a low percent and you have a salary enough to pay your loan and you won't ruin your life doing so, then why not? He who does not risk will never drink champagne, you know.
By the way, if someone takes a loan to buy bitcoin when it reaches its ATH, I would call it a bad debt but if someone buys for example before halving or soon after halving or after the crash of its ATH, then I would call it a good debt.

As long as you can pay it off, then it is okay, because that is really your problem if you invested at ATH, as you haven't researched more. You are right, you can't drink a wine if you are staying in your comfort zone and just waiting for luck to come to you, and even now, most people take out loans to take a risk on their businesses. How much more on us if we know about bitcoin and have the capability to gain profit from it? But again, we only invest what we can afford to lose, as we don't know what will happen to our investment. That is why it is better that if we take out those loans, we can still pay them off even if we lose all our investment.

Your comment, while imbued with the entrepreneurial spirit of taking risks, slightly romanticizes the potential dangers of investing borrowed money into something as unpredictable as Bitcoin. The belief that 'you can't make an omelet without breaking some eggs' might work in some business scenarios, but when it comes to volatile assets like cryptocurrencies, the stakes are much higher

Just like you wouldn't bet your house on a single roll of the dice, putting all your borrowed money on Bitcoin seems to be tempting fate. Crypto markets are notorious for their volatility - today's all-time high might be tomorrow's epic crash

Furthermore, the risk of being unable to pay back the loan in the event of an investment loss could have serious financial and personal implications. A more prudent approach would be to only invest money that you can afford to lose