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Shitcoins should not be mention is this thread because it's not to be trusted at all a lot of shit coins are created just to exploit people, my brother was investing on one shit coin that i really don't know the name and he lost almost all his money if not that he quickly sold everything and he has been investing on it for a year plus the other day we were discussing and he told me the shitcoin as lost every value now. A lot of people are always losing and regretting investing in shitcoins and I have discovered The reason reason a lot of people even think of investing in shitcoins is because they believe Bitcoin won't rise again or Bitcoin won't grow more than this so they feel like investing on an upcoming coin this is a very wrong reasoning because Bitcoin has not even gotten closer to a price that will shock the world so I will advise every newbie to accumulate as much Bitcoin as he or she can and forget about shitcoins if they want peace of mind or don't want to lose there income.
There are some folks who cannot resist shitcoins &/or gambling, and some of them might be saved from overly shitcoining and/or overly gambling and being able to at least address their urge if they were able to keep (without cheating) their shitcoining to less than 10% the size of their bitcoin investing.
Talking a loan to invest into Bitcoin with out any means of paying back and believing Bitcoin will pay you off before the expected loan date can be problematic that is just for those that want to option for a loan to invest into Bitcoin but if there is a means of paying back there won't be any problem at all, newbie can also learn Bitcoin is not a get rich quick investment that you will want to take loan to invest on it believing it will pay by then your Bitcoin journey will end along the line.
The thing that novice investors need to avoid when starting to invest in Bitcoin is that they should avoid borrowing money just to invest in Bitcoin, even if they have the ability to pay it. Because when someone invests using borrowed money, it means they need to bear the interest on the loan, and that could be a problem because the market could be stagnant for months.
It is better to invest using cold money, such as savings or money that has been previously allocated specifically for investing. In this way, not only can someone avoid interest due to loans but they can also focus more on investing.
I frequently prefer to consider loans (and leverage) as more sophisticated skills, that end up adding further challenges, and it seems way better to be thinking about, building and eve putting more basic methods into and to get used to the application of those more basic methods (which is not even easy in itself) rather than unnecessarily employing more extensive and complicated techniques, which might end up converting a relatively solid practice/technique into a kind of gambling.
Another thing that I don't really have any problem with loans as long as there is already sources of income to pay them back on time an in the correct amounts, but also to account for whatever interest rate is being charged, wether that might be low rates such as less than 3% or medium rates of perhaps up to 7% or higher rates e.. and the higher the rate the more difficult it should be to even get into the practice of taking such loans.. and yeah, there would already be a built in expectation of an ability to earn more than the interest rate amount.
Taking loan is not bad if one has a source of income which through there he can pay back, what is bad is taking loan knowing fully well you don't have a source of income or any hope of paying back.
My dad always prefer taking loan when ever his savings are exhausted and he is a civil servant so he always pay back, taking loan according to him is better than selling his investment or property since he has a source of income taking loan is the best thing to do than to sell of your investment and he also said don't take a loan that your salary can't pay of in the next 4 to 7 years and I think I agree with him even though you have a source of income you shouldn't take a loan that you can't pay because if you can't pay at the long run it will result to you selling of your property or investment in other to settle the debt.
And is always advised to go for a more better interest rate there's this man I know he went to collect loan with a bad interest rate and for about 8 years now this man is still paying the debt because the rate is always adding this year he had to sell some of his landed properties so he could settle the loan so as not to keep debt for his children when his no more so please let's be guided.
Surely loans can be a way to front-load an investment with cash that might take you several years to accumulate without the loan.. so the loan allows you to have the money earlier than what you otherwise would be able to achieve it on your own.. Loans can be managed reasonably and even quite empowering.. but they can also fall into an out of control status or maybe a status in which they ended up NOT being profitable since the person might have gotten over extended or maybe income dried up or expenses unexpectedly increased.. so yeah they can go either way including that there can be a decent amount of calculation involved in determining whether or not to get them.. and so unknowns in the future could still be within manageable risks if carried out within reasonable boundaries.
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Although we can't really influence people for discouraging them to invest on shitcoins while they are engaging on long term hodl plan with BTC, but hopefully in future they realize that they are just wasting their money,time and effort with those shitcoins.
There could be the error of not knowing when to get in and/or to get out... and there could also be the error of considering some of the shitcoins as long term investments. Surely problematic, even though some folks do end up having some success in navigating through such distractions, I personally don't find it to be a good use of time, energies or money unless it is just with a very small portion of the bitcoin size.. and my own is less than 1% for all of the shitcoins that I own.. and I try not to spend much if any energy on them... but yeah, sometimes people will spend a lot of time, money and energies on that crap and lose sight (or become confused) about what the real value propositions that bitcoin brought to the world and continues to serve in such a place that continues to be worthy of long term building and holding investment.. and if some folks might not have a lot of wealth to be investing, they can truly end up diluting their bitcoin investment by getting distracted into either the nonsense of trading (gambling) or the various nonsense talking points in which various shitcoins still try to persuade folks over to them and away from bitcoin.. based on mostly vapid claims rather than really having any kinds of solid foundations in which someone might actually want to long-termedly invest their time, money and energies..