If you cannot afford to pay your loan from income that is other than your bitcoin investment, then you likely cannot afford the loan.. and you are really too tightly cash strapped to be using debt as a leverage.
People are still going to take loans that they are not able to pay back in the event that their investment does not go well, and that will sometimes make persons worse off than they would have had been if they had not taken the loan.
It is better to strive to build up your finances in basic ways before you start to use debt, even though there are some kinds of debt that are really long term, such as student loans and even some housing loans can be quite long.
There are people who already own homes or they own equity in homes, and sometimes they will take out loans to use that money to live, so they get themselves into a worse and worse situation because their income is not high enough to pay for their loan.
Yea, you are actually right sir, if he cannot pay the loan from another source, then he really can't afford the loan because it might be a bigger burden to him than if he didn't take it in the first place.
I just feels like most folks thinks that it's only when they are in needs they take a loan, and anyone that takes a loan base on lack is taking such loan for consumptions.
And to be honest, that's where they got it wrong, because even the rich borrows money to leverage a situation at hand believing that it can be repaid easily from another source, but it mostly boils down to how flexible the loan is before an investor decides to take such opportunity or not