/biz/ - Business & Finance

>>9699812
it's called leverage, if you can manage it and don't mind risking it I say go for it.

Not sure why you made a blogpost on it. I personally wouldn't buy EOS though.

enjoy being poor and in debt the rest of your life

>>9699812
lol

You're a dumb motherfucker. I wouldn't pay any more for leverage than interactive brokers rates.

>>9699823
Ive done a lot of research into the platform. Almost also interested in NEO, nano, or ARK

>>9699835
Are you saying I can get a similar loan through a brokerage?

So many things wrong with this post kek

Do it OP

>>9699861
That's the goal, but I'd like to know the things you see wrong with this post

yolo that shit

>15% interest
YOU IDIOT

>>9699812
>that 23 year old boomer who takes out loans to buy crypto to fit in with the millennials

Don’t listen to the traditional ‘don’t spend what you can’t afford’ mentalities.

Buinsess all have Loans and credit cards, no one can start a buinsess or venture on there own back (mostly).

I took the risk also OP, only did 3k back in November and 4x my money during the bull...
Recently took out 15k extra on the dip and an hodling Til eoy or so.

All in on xrp if you wanted to know. All in or nothing, if I make it I’ll be set. If not I’ll still be okay.

Life is a gamble

Thinking of doing this. What do I say for the reason of the loan? Degenerate gambling on internet monopoly money?

I took out a $10K loan and bought ETH all under $50 USD I then took out a$20K loan and bought BTC below $3.5k.....I'm trying to get a $50 K loan but no luck yet. Fortune favors the bold$

>>9699812
The only way you lose is if crypto really dies. do it OP and stop listening to the kids above. less than $18k for 1 BTC, 5 ETH and 100 EOS in 7 years is insanely low.

buy peepcoin with it

Get a high limit credit card instead. Wire money to ur bank then wire that money to buy cryptos. Never again 15% interest. I do cash advances like this on every dip. Owe the hooknose 3k atm

>>9699812
This is fucking stupid, but it's your risk. And if you can work out a payment plan, at least you can beef up your credit score with installment credit, so knock yourself out.

>>9700142
Debt consolidation.

There is no ‘right’ answer. Financially conservative people will laugh at you, but no risk = no reward. I say go for it, but don’t go into EOS. I would split it three ways between ETH, BTC and NEO.

Btw I also took a similar loan 2 years ago and made over 500k.

>>9700379
Let's get it Bois. At what point do you pay off the loan in full? When you 2x? Or do you just keep making minimum payments hoping crypto rises more than 10 percent on average per year.

>15% interest rate

LMAO

>>9700390
Minimum for a year, builds credit. Then flush pay it and off you go.

Seriously tho, i do not recommend EOS. This strategy is high risk... I would stick to the big three, BTC, ETH, LTC. Those will be around, will the be worth more or less.. we do not know. But i doubt they will go to zero.... EOS I cant say honestly.

>>9699812
I took out a $100k personal loan in Feb to buy crypto - @7.45% for 84 months. No regrets yet. I'm only down like 10% because I got into btc and eth between then and May.

I'll take serious suggestions on how you guys would allocate the funds. My goal is to turn into $400k by end of 2018 and $1mil by end of 2019.

>>9700499
And I make an obscene amount of money wagecucking, so I won't be too hurt if crypto goes to absolute zero. I only had $25k in cash in February but wanted to take major advantage of what I thought was the dip.

How about investing in a crypto index fund that holds most crypto currencies?

>>9699856
Yeah, at like 3.2%, lol

>>9700390
I sold enough to pay the loan off at around 20 x profit, but it all depends on whether we will have another huge bull run. I recommend holdling quality coins for at least 1 year unless you make x 10.

DO IT! No venture, no gain.

>>9699812
>>9700158
>>9700499
How the fuck did you guys get a loan? What did you tell the banks what you're going to do with the money they loaned you and you're going to pay back with interests? How did they not laugh in your face when you told them you're going to use it to invest in crypto.

>>9701443
Im wondering the same shit

>>9700499

I'd just pay it back now and admit my mistake, BTC could easily be going nowhere but down.

>>9699812
Just don't

>>9701443
I can take out a personal loaf of 10k without specifying the reason.

Interest is at (((18%))) tho

>>9699812
Do it man, I used know a euro who took out a massive loan and bought btc at ATH. He ended up losing everything he owned, his wife left, I think his kids were sold into prostitution and I haven't heard from him since.

>>9699812
dumb, borrowing for high risk speculative gambles is fucking moronic, anything happens with your job and you are fucked.

You're gonna need this here
https://www.youtube.com/watch?v=oD2gXY4piF4

>15%

>>9700499
link,eth,gravio

>>9699812
idiot

>>9701876
Why wouldn't everybody then take a loan fake their own death and go live like royal in Thailand with that money.

>>9701443
>>9701488

If you have decent credit and a relationship with a bank or credit union you can basically get whatever you want.

Im pretty much poor but Ive been approved for loans ranging from 6 to 30 grand below 20%. It's all a game, helps to be white desu.

>>9701926
Visa

>>9701443
What are you, 12? You don't understand how loans work? Or you live in some shitty 3rd world country. 10k is nothing.

Going in and getting a 100k loan, with good interest rates, that's more impressive.

>>9701926
Because most people don't want to throw their lives, family and friends away to go live in some shithole 3rd world country, virgin.
Besides, it ain't THAT cheap there. 10k wouldn't last long. And good luck getting a new identity outside of your home country. It ain't that easy, dummy - and their banks comply with international banking laws. Good luck getting that passport under a new name, retard.
I remember being this young, and dumb. It was called "ten years old".

I'm thinking about doing this with the student loans they offer me for school, any downsides to it? It seems super duper smart because the interest is super duper low and it doesn't start till after i graduate(~2 years later)

>>9700124
I did.. I turned 5K into 130K on the stockmarket.

Y’all just have some bad damn credit, neets lol every time I open up my amex account (((they))) offer me 25k @15%. Rate is dogshit.

>>9701443
working for a german bank.
i never ask what the people spend their loan on.
i don´t give a fuck because we have to sell loans like crazy and i am happy about anyone who takes money from me so my regional manager does not fist my ass for not selling enough.

>>9701960
Why the fuck would a bank take a risk and give away 10k like it's nothing. Holy shit 2007 will come back to us soon enough.

>>9699812
If btc go to zero and you can pay back the loan with no pain then it's money you can afford to lose and go for it. 15% is a fuckery though.

>>9702192
Is it by any chance the Deutshe bank? >>>>9694815 (see pic)

>>9702194
Because they expect 18k in return you fucking idiot. How do you think bank’s work?

>>9702207
Yeah why don't you give me some fucking 10k. I promise I'll give it back later. How the fuck do they trust their clients enough to pay it back. I mean just ask some general questions about what he's going to do with the money ffs
Let me ask you this: if you're going to loan 10k to a friend are you going to ask him what he's going to do with the money to check if he can pay it back?

>>9702202
every big commercial bank in germany acts like this.
if you got a job for an unlimited period or the employment period is longer than paying of the loan and you earn enough money, we will beg you to take out a loan so the hooknose can get some interest out of you.

over 1.4k euro per month and you can already get 5k euro loan for 7 years. 2k per month makes you good for 50k loan.

>>9702231
well he has stated multiple times that he is more than capable to pay it off even if btc goes to 0

so the credit is there and bank gets free money

damn man, that is like Credit Card levels of interest.

>>9699812
i would do it.

if crypto skyrockets you will regret not taking the chance for the rest of your life.
if crypto goes to zero, it was an expensive lottery ticket for a better life, but at least you tried.

only do it though if you got a safe job and earn enough so losing everything does not hurt you the rest of your life.

>>9702241
Ok. Makes sense. So banks only check your employment and if you're able to pay the loan back.

>>9699812
if u cant make it with 100$ what makes you think you can make it with 10000?

>>9702268
yeah basically the size of the interest the guy has to pay is proportionate to the trust the bank has to the guy that he is creditworthy

>>9702231
banks have contracts you dumb piece of shit. its not like going up to your bro and saying 'lol gimme 10k i gotchu'. banks will seize your assets. if you have no assets they will force you into bankruptcy.

why dont you fucking think for a second before posting? fuckin teenagers man

>>9699812
>am seriously about to take out a personal loan to buy crypto.
>take out a loan to buy crypto.
>at 15.1 percent interest
15.1%
.........
>doesn't even know what leverage is
>>9700390
>asks when its good time to pay back a 15%/y loan

jesus fucking christ anon just stop or you end up like in pic related

>>9702287
didn't work that through step by step but its 100% garuanteed to be less retarded then what you are trying to achieve

https://i.imgur.com/CcEVQAV.jpg

>>9700096
This. Kek.

>>9702281
I know that. I thought banks would check upon their clients so that they have a very high probability of getting the money back to them. Never took a loan but it seems so surreal that getting one is so easy.

you could easily build that amount of money off a 1k investment just by being smart

>>9699845
All 4 overvalued shitcoins, except maybe ARK, which is still overvalued and a fucking shit performer at that. Brainlet confirmed.

>>9699812
>The $11500 loan
You literally don't have 11 grand sitting in the bank right now that you can use for this instead? You are dirt poor, and this is the kind of financial decision that dirt poor people make. You are fucking retarded, don't do it op. You are probably making min wage or just terrible with money, and taking out a loan like this is only going to make it worse

>>9702392
You're retarded. From what he said he can maintain positive cashflow with his job, which is all that matters. Stay poor.

>>9699845
>Ive done a lot of research into the shitcoin.
Listen to me, aside from ETH and BTC buy NIM and LBC.

literally no one here has any idea about leverage. i also thought that this board was a majority of pro crypto, in a 6 fucking year timespan do you really think BTC, ETH, and EOS would only increase 50%? not to mention that he can pay it off easily. just fucking do it man