Quote from: Lucius on Today at 02:04:40 PM

Quote from: Finestream on Today at 12:48:53 PM

If you think borrowing money to trade is wrong and label people who do it as ignorant, then you’re essentially calling CZ, the founder of Binance, worse than ignorant. After all, he sold his house to invest in Bitcoin.
~snip~

I can publicly call him an ordinary criminal who got rich by avoiding paying taxes all over the world, and (so far) has paid a huge fine and spent several months in prison. There is nothing positive about this man whom you and many others consider to be some kind of idol whose path should be followed - in which case, everyone should sell their houses and apartments and invest in BTC - the fact that 99% of these people will become homeless after that is probably not a problem worth discussing.

we don't have the same style of investing, and whatever they believe will be profitable is their choice. so as long as they’re not doing anything illegal, who are we to judge? The problem for some is they don’t succeed because they want to play it safe all the time, even with Bitcoin.

I admire CZ for his courage in selling his house for Bitcoin - not for any alleged illegal activities. But let’s not get sidetracked. We’re just having a simple discussion about borrowing money to trade. It’s not so dangerous if you’re confident you can pay the loan back, so why make it seem like it’s a sin to trade when borrowing money?

Personally, I sometimes borrow money to gamble, and I don’t think of myself as stupid. In fact, I like it because it’s taught me how to manage risks better. People may have different views on risk management, but at the end of the day, this is all investment. There are no guarantees, no matter where the funds come from. Let’s respect each other’s ideas here.

Quote from: Lucius on Today at 02:04:40 PM

Borrowing money from a bank to trade with cryptocurrencies is a big risk for me, but if you think that the OP should follow the example of a great leader, why borrow money, let him sell his house or something else.

That’s on OP if he’s willing to sell his house, I can’t blame him if he sees an opportunity like CZ did. But personally, I wouldn’t recommend it, because I don’t want to be blamed if things don’t go as planned. Tongue