In conclusion loan is not for everyone but for people who are financial minded or wise, and not for guys who should not have been using dept due to lack skill and or using it in the wrong circumstances.
I agree with you on this, some people doesnt understand what loan is meant for, as a matter of fact before anyone access a loan facility or individual loan, such person should have consider a means of paying back such loan to avoid indebtedness, you don't get a loan just because you heard that MR A got a loan and it favoured him in achieving whatever purpose he got such loan for, in the aspect of accessing a loan for Bitcoin investment or whatever investment one want to go into I will only support this if the person involved understands how to manage financial risk and also have the ability to plan with the amount available to enable him or her process whatever idea he wants to invest on to a realistic investment then such person is good to go.
Loan is meant for people who are not financial reckless that are ready to turn any amount given to them into some good amount not people whose purpose of getting a loan is to invest in something that may keep them financially stranded in a short while if care is not taken.
I don't have much experience with taking loans and paying interest, but talking about "soft loans", I do that quite often especially from a well trusted friend.
All what you've just stated here are just the true fact, which I think is very common among those that takes loan. And after reading your reply here, I just kept asking myself, why don't people take loans that isn't above their worth?. Aside the fact that some loan takers fails to draft out plans to use their loan properly, there are some that just happen to take loans that are far outrageous. Just imagine someone with a worth of maybe $1-2K, taking a loan of let's say $4-5K, which doesn't really wrap up well IMO.
And, concerning those that fails to put their loans to use by investing wisely or in a better project with a lower risks like Bitcoin, you start wondering why they had to take the loan in the first place. I actually took a soft loan for myself recently, which was from a trusted friend. I couldn't just let the recent mid-week decline in Bitcoin price pass me bye, even though I had already made my DCA at the start of the week. IMO, I have used the soft loan in a very good way, and I can still pay at any point in time because I actually took something that I can afford to pay. Even if I decide to repay now, it's still a plus to me.