Quote from: faince222 on December 23, 2014, 11:12:16 PM

Quote from: riiiiising on December 23, 2014, 11:07:52 PM

Quote from: faince222 on December 23, 2014, 10:51:56 PM

Quote from: wopwop on November 27, 2013, 04:29:47 PM

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

You're total crazy. It's a very bad idea to get a loan to increase your bitcoin balance. Bitcoin is too much speculative for invest a great quantity of money (Especially if you get loan for invest). Try to earn in other way.

Well, his post was from one year ago, so he's already lost his money. No sense trying to persuade him now.

If nothing else, this thread serves as a reminder that it's typically not wise to listen to the loudest voices on this forum. For the past year we've had men with castles, tailored suits, and fancy graphics telling us that another rally is inevitable, and by last summer the idea had become so pervasive that it became axiomatic around here. Lots of people made bad decisions, meanwhile calling out all the voices of reason as "trolls". 2014... not a proud year for the community.

But I think that in 100% of case it's a bad idea to invest in something if money is not yours. Consider that no one can know what price will be tomorrow, It's very a crazy action invest money (that you have loaned) in something of this. And it's very crazy for bank that give loan for this kind of people.

This is not always the case. Using leverage (borrowed money) can sometimes be useful if your trade is successful, you just need to have the discipline to close your position before you lose all your equity (although most exchanges will do this for you if you are borrowing via the exchange)