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/biz/ - Business & Finance


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12129058 No.12129058 [Reply] [Original]

Why shouldn't I take out a loan to invest in crypto, /biz/?

Let's say I take out 100k to buy Bitcoin with 20% API, for example. I am 100% positive Bitcoin will be higher than it is rn in two years due to the halving.

If Bitcoin goes back to 20k, I'd have around 700k, pay back 120-175k on the loan, and have enough capital to set me up for life. Even if it only goes back up to 6.4k (what it was one month ago) I still would have made over six figures.

Why isn't everyone doing this? How would I go about getting a loan to fund this? Holy shit I'm going to make it just be hodling bitcoin LOL

>> No.12129067
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12129067

>>12129058
>he stays in the sim
>he isn't shorting real coins like XPD

>> No.12129076

>>12129058
because you're speculating and at the mercy of the market

>> No.12129095
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12129095

>>12129058
Write a book about your success.
You know as a fallback plan

>> No.12129103

>>12129076
That is true, but I am willing to take a chance. I am very confident Bitcoin will return to ath within the next 2-3 years.

>> No.12129122

DONT you low iq brainlet

>> No.12129145

>>12129095
genius

>> No.12129152

>>12129058
>Why shouldn't I take out a loan to invest in crypto, /biz/?
What if it drops to $76.57, what if satoshi spends his btc & it goes to $0, what if something else becomes the next big thing?
Do what you want, but why invest it in a volatile instrument with no insured dividend?

Actually, fuck what I said. Do it, 1000x long on bitmex

>> No.12129160

>>12129122
Why not

>> No.12129163

>>12129103
lulz, you & mcafee can have dick sandwiches together on skid row

>> No.12129176

RIP

You will regret this when you’re slaving at your second job at the fulfillment center to pay off your debt

>> No.12129186
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12129186

>>12129058
>poor neet
>take 100k loan
>why isn't everyone doing this
>thinks banks just give 100k loans to any retard that asks them

>> No.12129196

>>12129176
Why do you normalfag brainlet fucktards always assume OP doesn't have enough cash flow to cover the loan payments?

>> No.12129197

>>12129176
Listen to how euphoric this bear is, I know the bottom is near when I see comments like this

>> No.12129209

Should have last week, but better get on it quick the rubber band back to $6k is starting NOW.

>> No.12129212

>>12129176
Also, I have the capital to cover the loss + an 800 credit score, I am very confident I can get a loan of at least 100k.

>> No.12129227

>>12129209
Well it's not a stretch, we're exactly at a certain support level.

>> No.12129253

>>12129212
I say do it. The risk:reward ratio won't get any better.

>> No.12129285

you're an idiot if you don't do this

>> No.12129289

I took out a 50k loan at 7% a week ago. About to go all in on bitcoin

>> No.12129644

if you do it, make a twitter account where we can follow you to see how it's going and post it here

>> No.12129889

>>12129212
really dangerous, it could screw up your life

>> No.12129934

In the current market bank wont give you money for investing. Even if you would propose bonds or equities you woulndt get shit

>> No.12129941

>>12129058
I actually did this back in summer OP. I got 70K to put in CL and spent $50K of it. Buy in was $.185. Sold half at $.34. Was going to sell another 50% at $.64 and cover the whole principal but we never made that high again and now we're back near my buy in and will probably go lower. I've got $34K in fiat on CB plus the original $20, but I can't decide if I should rebuy under $.20 or just hold and cahs out when ewe hit $.35 again.

>> No.12130159

>>12129941
You got in a great price. I did similar with a smaller loan but got in at 27c

If I sold at 60c I could've had the same level of stack abd have paid off the loan. Meh.

I got it over 5 years, can pay it back early and make enough to pay if off. Plus, I kept 5k of the loan in a savings account in case something happened with work etc.

>> No.12130196

What can go wrong ? In the worst case you get the fuck out the country.

>> No.12130420

>>12130196
thailand, 7 years; boom.

>> No.12130466

>>12129058
Wait until confirmation. This market has a lot of gas left that needs to deflate. Dec, 2019 early 2020 I might do something like this if the fundamentals are still solid and we get that 6 months of sideways action. Market makers only want 1 crypto left standing so we got to wait.

>> No.12130556

>>12129058

bad idea

>> No.12130645

>>12129212
>>12129889
RIDE OR DIE MUTHAFUCKA
YOLO

>> No.12130662

>>12130466
market makers just want to profit of the spread on the orderbook. Fuck off you dweeb

>> No.12130715

>>12129058
What would the loan be secured over and how would you service it?

>> No.12130730

>>12129212
Then what's the need for the loan?

>> No.12130741

IS THE SNEK OK?!?!?!