Post
Topic
Board Trading Discussion
Re: Should I Get a Loan?
by
Lucius
on 26/12/2024, 15:29:23 UTC
~snip~
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?


It's not a sin (as you say), but from a risk perspective it's very irresponsible, especially if the loss of that money could have direct consequences not only for the person who borrowed the same money, but also for the people in their family. The OP himself says the following:

First thing first I thank to you all for sharing your opinions with me. If I don't lose the base money then yes I can surely handle the loan's interest. But if I lose like %20-30 then bell of chaos is likely to start ringing.

Given that his entire venture is based on the political decisions of one man who is currently talking about territorial claims towards at least three different countries, the price of BTC could be anywhere between $50k and $150k in a month. Margin trading for (obviously) beginners in such conditions does not look promising at all.

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.

Your money, your decisions - something like that would never occur to me, because gambling is something most people lose money at. Likewise, I wouldn't call gambling any kind of investment, for me it's just a type of entertainment and nothing more.