/biz/ - Business & Finance

Good luck taking out a loan with 0 credit you dumb neet

>>9819522
>bitfinex at 0.8% per day
what is this

>>9819522
oh honey... how sweet you believe there's gonna be a bitfinex in 5 years

>Taking out a $50k loan
>Only make $40 a day

The absolute state of /biz/tards

>>9819522
Waste of time.

I don't believe you

>>9819542
Die.

>>9819604
Margin funding, from what I have seen 0.8% is the average.

>>9819607
Die tether fudtard

>>9819629
Learn to read and comprehend simple math

>>9819637
Takes no time at all. All I have to do is withdraw $990 once a month. Passive income for poorfags.

>>9819650
Believe it

>>9819637
>effortless $62600 after 5 years

>>9819637
this

>>9819698
What's the plan for the loan?

>>9819698
>>9819522
pls be my neet gf ill impregnate u with qt neet babies and we can scheme this system together

>>9819768
>>9819650
Pic related is the Barclays quote. I forgot that its in gbp.

>>9819789
I'll figure something out. I have some credit history and collateral. What's wrong with outright telling them my plan? Or saying that I plan on using the money to invest?

>>9819796
You be the gf and I'll consider it.

>>9819698
.8% daily is stupidly unsustainably high

Oops. Meant to post this.

>>9819522

You dumbass, 50k of the 62600 is going to be paying back the loan, so your actual profit is about 12k after FIVE YEARS.

>>9819844
>What's wrong with outright telling them my plan? Or saying that I plan on using the money to invest?
Oh boy. Banks don't take risks like that without sufficient collatoral. I don't see it working out unless you own a house debt free or something.

>>9819875
Oh my fucking god please no
please dont let this be true

>>9819875
Lol you're retarded bro
.8% per diem will get him like 14.5k per annum x 5 which you then add to the 50k

>>9819855
It isn't. Look at the finex funding page. It's always hovering around 0.8

>>9819875
How do you manage to breathe?

>>9819887
I'll figure it out.

>>9819934
you realize tho that you are thinking 5 year terms in a market thats not even regulated? nonetheless reasonably priced?

>>9819855
>>9819934
Anyone that claims they can reliably gain 0.8% DAILY on their investment is in for a rude awakening, because anon is right; it's unsustainable.

$1000 with 0.8% growth compounded daily is $18326.69 after just ONE year. After only two years, it would be $335873.40. Does that sound realistic?

>>9820053
It's not compounded. It's based off the 50k initial

>>9819934
Do you choose who you want to loan the funds you put into margin funding or is it all automatic?

>>9819855
>>9820053
0.08%**

>>9819965
Yes. Just throwing an idea out there, doesn't necessarily have to be bitfinex. Surely there are other venues where I can make a higher return than my interest repayment.

>>9820115
Automatic. I place my offer and anyone can take it.

>>9820137
What's the catch? I'm interested in this

>>9820156
The catch is nothing is free in this world, its going over 5 years of time, its extremely high risk for someone that doesnt have money

youre betting on 0.8% daily return for 5 years in the crypto market

>>9820137

Still unsustainable

They are paying near 30% interest on the loans

>>9820194

30% annually* sry should have specified

>>9819934
It's like 0.04 most days. It has never been 0.8 you fucking retard.
Also
>What is counterparty risk
Just kys

>>9820156
The rate is not nearly that high
You can get hacked
Bitfinex can get hacked
Exit scam
Etc etc

>>9819856
>paying 7.3% interest on a loan when interest rates are at record lows and increasing

top lmao

>>9820179
Well, what if I have $50k lying around and can invest into this?

>>9820247
So if I have funds lying around I can deposit there and gain interest? Doesn't this sound like BITCONNEC?

>>9820194
Not that much considering last bull run.

>>9819604
When people want to trade on margin they need to loan money to buy something. Thus, Bitfinex needs people to loan their USD

>>9820481
>So if I have funds lying around I can deposit there and gain interest? Doesn't this sound like BITCONNEC?
Bitconnect was paying 40% a month, this only pays 33.8% per year.

>>9820533
Still doesn't answer my question of what's the catch. Is there in any way that I can lose the money by simply loaning it?

>>9820542
bitfinex could declare bankruptcy and you'll lose everything.
ever wonder why theyre getting charged 200% anual interest for capital? shit is more junk than a Tesla bond.

>>9819522
It's retarded posts like OP that make me want to switch my long-term view of the crypto market from bullish to bearish

>>9819522
The average is not even close to 0.8%. It's much closer to 0.08% (and that's high). If Bitfinex gets hacked or there's a flash crash you might not get your money back. That's the risk you get paid for.

>>9820542
If Bitfinex goes bankrupt, gets hacked or there's a flash crash so longs can't get liquidated you might not get all/any of your money back.

>>9820542
If Bitfinex default, you're really fucked unless you're citizen at some 1st1st country which would go after such fuck-up