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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.
I will never advice anyone to invest in shitcoins or even invest a low percent in it, shitcoins has frustrated a lot of people and is a very bad investment and the funny thing is that a lot of people are still investing in it even after seeing
the level of loses people are having everyday and like you said there are people who can't resist shitcoins and the reason is lack of patience they see Bitcoin as something that takes years before it grows and they see shitcoins as something that grows quick but that's a very wrong mindset, Bitcoin is the best investment and the only thing one needs to be successful in Bitcoin investment is patience, for those that can't resist shitcoins I will advise you to check the life of people that has been investing in shitcoins for over 8 years and those who has been consistent in accumulating Bitcoin for over 8 years check there level of success through there you will know the best investment to involve your self in, Bitcoin is the only investment you can have peace of mind ever since I started accumulating Bitcoin using the DCA strategy I don't think of losing my money I don't have fear of anything but in shitcoins you will never have peace of mind investment because the risk of using your money is so high, investing in Bitcoin is the best decision I have made as a newbie in the crypto world and I'm happy being in this forum were will discuss Bitcoin and share ideas if not for this forum I won't know about the DCA strategy I'm using now. Bitcoin investment is a peace of mind investment because it will never fall without rising to a great height and so I don't bother about the falling of Bitcoin all I think is accumulating as much as I can. Please everyone deceased from shitcoins and focus on Bitcoin don't waste years investing on shitcoins and regret later.
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.
You are right JayJuanGee loan can help one get the money that would have taken him or her several years to get and that's why my dad sees loan as a very good thing, a lot of big business men and women today was able to achieve great success in there business because of loan, one of the biggest business men in my town said when he started his business he was having issues with finance and he tried everything he could to rise his business it was not working not until a friend advised him to take loan and he did that was his the starting point of his success story in his business, so loan is a good thing but before taking loan have a good plan on paying back I will even advise you have two or three plans kept in place in paying back that loan in case the first plan fails.
The reason why I'm saying one should have multiple plans kept in paying back the loan is for example if you collected a loan in other to invest it in one particular business with hope that you will use the interest profit to pay back the loan and the business crashes you will be in debt without hope of paying back so to be on a save side have multiple plans for paying back before you can collect loan it will also help you have confidence in running the business without fear.