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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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24748057 No.24748057 [Reply] [Original]

Would you do the same?

>> No.24748075

>>24748057
Kek he deleted it all

>> No.24748116

>>24748057
someone called him out on it being illegal to take out a loan to invest in stocks, etc, and he said he lied and didnt actually do it.

what a stupid fucking faggot

>> No.24748130

>>24748116
lmao
retards really shouldn't be allowed to use the internet

>> No.24748131

>>24748116
He's a putz. Typical low IQ maxi

>> No.24748144

>>24748116
He was saying he lied on the application, said it was a loan he took using his phone.

>> No.24748175

Why not do it on the next large correction? People are too impatient.

>> No.24748186

>>24748116
Whats illegal about taking a loan for stocks

>> No.24748197
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24748197

He makes that in a couple weeks with his shitty podcast. I think the tweet was just a joke.

>> No.24748211

>>24748186
because its risky, and if the stock doesnt go as predicted, you wont be able to pay it all back.

>> No.24748216

>>24748175
fomo/greed. The only use case for BTC is to trounce amatures like Peter

>> No.24748220

Short the banks
Long bitcoin
I'm unironically doing the same if btc corrects

>> No.24748243

>>24748211
Will the Aave police come after me for taking a loan on Eth to buy Eth?

>> No.24748249

>>24748116
How is it illegal if it's still on you to pay it back if it goes down?

>> No.24748260

>>24748243
yes
and then they will be taken to kleros court

>> No.24748277

>>24748057
taking out a loan too much effort also I cant for any reason unless its a car / house loan im 20 and live at home

>> No.24748314

>>24748057
He is based to borrow meme dollars from ((them)) to invest in BTC.
His mistake was to tweet about it so the hall monitors could dox him to the ((bank)).

>> No.24748323

>>24748116
pretty sure its not illegal. my bank gives me loans based solely on my salary. didnt even ask me what its for.

>> No.24748930

Credit score should only be used to take out loans for crypto. Money isnt real

>> No.24748966

When did he buy? Where's the timestamp?

>> No.24748988

>>24748966
https://www.blockchain.com/btc/tx/aa8fb0d39bcb2d78623273d02c667a4cdfb12907d8f2e93856ad9627209e9c78
https://www.blockchain.com/btc/tx/d74d54b988a1cc6a60eea71f87d4adf00cbb1cb2adee2030a8e5058fa36755f1

>> No.24748993

>>24748186
You're literally gambling with someone else's money...

>> No.24749000

>>24748988
Also, the internet is forever Peter.

>> No.24749019

>>24748993
>using a business loan to open a business is a 100% solid guarantee of profit

>> No.24749024

>>24748211
Yea they have collateral they arent going to loan you based on nothing

>> No.24749040

>>24748993
So what? Plenty of banks offer consumer loans that dont have a specific purpose stated. You can borrow money and go on vacation or fix your teeth or whatever else you want.

>> No.24749050

>>24748057
This guy is a full blown retard. How dumb do you have to be to get addicted to drugs. And a voice that makes me want to strangle him with my cock.

>> No.24749051

>>24749024
They loan based on your income and credit history.

>> No.24749079

>>24748057
Peters a retard, but something like this is definitely prudent, though the amount is wholly relative and depends on your own financial standing.

>> No.24749205

>>24748057
once I get my student loan refund I'm gonna drop it on a 20x long

>> No.24749220

>buying the top
absolute retard
literally just sold 85k of eth

>> No.24749246

>>24748057

Good decision IF he can cover the loan if it drops to zero.

Good if it's levered, bad if he's broke if it fails

>> No.24749361

>>24748116
I have a personal line of credit at my bank that they know I use to buy market dips. Shut the fuck up.

>> No.24749384

>>24748993
then why are u able to take a loan to buy a house at the most riskiest time?

>> No.24749452

>>24749384
Residential mortgages are pretty much the safest loans. Obviously if you give out loans to anyone they won't be safe. Historically most banks were smart about handing out loans until greed took over and the Federal Government allowed the junk MBS implosion.

>> No.24749506

>>24748211
But you can take a loan out to by an expensive depreciating asset like a car tray loses %15 the second you drive it off the lot? Lmao what a cucked law

>> No.24749636

>>24749220
lol this is not the top noob

>> No.24749685

>>24749636
thank you for holding my bags, will buy them back at 400

>> No.24749814

>>24749506
Its not the law. Its terms of the loan

>> No.24749819

>>24748260
How long until people realize the final piece of the puzzle? Decentralized police enforcement and imprisonment.

>> No.24749829

>>24748057
Is he talking about a bank loan?

>> No.24749845

>>24749829
>>24748144
yes, a loan taken on a phone

>> No.24749861

>>24748249
Because banks want to know they're getting something more than your money if you don't honor the loan agreement. That's why they'll happily hand out a giant house or car loan. Unlike someone declaring bankruptcy, that's something they can seize and resell.

>> No.24749917

>>24749819
>imprisonment
Nope.
You're ngmi. Future is a hard-fork of Kleros where 1,400 years of Islamic Jurisprudence is written into the protocol. Decentralized White Sharia.

>> No.24750593

>>24748057
I would take out a million dollars if I could bankruptcy is nothing if you have a ton of money

>> No.24750639

>>24749685
I don't hold eth, but this is not the top for btc. We'll probably break 20k next week, if not we're still just ranging. We won't see a 30% correction until everyone is extremely bullish again. But sentiment seems way too bearish for a 10% dip. I can see eth bleeding while btc pumps though, I doubt it'll hit 400 though.

>> No.24751519
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24751519

>>24750639
They are shaking off the ATH buyers. Some bought at 18k in 2017 and panic sold at 17k now.

>> No.24751541 [DELETED] 

>>24748057
Based but cringe and blue pilled.

>> No.24751551

>>24748057
he is gonna make it goddamn that 60ig bastard gonna make it

>> No.24751570

>>24749024
personal loans have no collateral

>> No.24751577

>>24751519
>Some bought at 18k in 2017 and panic sold at 17k now.
kek

>> No.24751597

Absolutely based and I've done the same. It's illegal if the terms of the loan say you're not allowed to invest it, and mine all did. But it's obviously a great rate and worth doing.

>> No.24751603

>>24748116
taking out a loan to invest in something isnt illegal you fucking morons

>> No.24751620

>>24751519
>people bought 3 years ago and despite seeing bitcoin fall to ~3k they held strong
now THATS a hodl

>> No.24751627

>>24751603
Is it? well im a criminal yhen

>> No.24751644

>>24751620
tell me about it it was hell empty soulless dark place

>> No.24751665

>>24748057
isn't this how all the normies got rekt in the 2017 bubble

>> No.24751677

>>24748057
based retard

>> No.24751687

I take loan too. But BTC was for $7k

>> No.24751693
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24751693

>>24748144
This would be illegal on a secured loan, aka mortgage fraud or whatever. On an unsecured loan, in Bong? Not so sure, you generally wouldn't even need to state purpose. But lock him anyway. Just in case.

>> No.24751703

An investment loan is illegal in murica? Lmfao what a cuck country

>> No.24751724

>>24751597
i never read the terms

>> No.24751807

>>24748993
>You're literally gambling with someone else's money...
No, you are literally not. The loan makes it YOUR money. And here's another thing: You aren't even obligated to pay it back. The contract the lender and you signed states what happens, when you don't pay it back. It's perfectly fine, morally and legally, to just not pay it off.

Now of course if you lie on to the lender to get him to loan you the money in the first place, THAT's the problem.

>> No.24751899

>>24749384
Because it’s a secured loan you fucking retard.

>> No.24751910

>>24751603
Of course it is, I’d you lie on your application. They wouldn’t ever loan you the money if you said you were going to buy crypto on it you fucking mong

>> No.24751980
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24751980

>>24748057
maxed out my Credit Card twice for Chainlink.

>> No.24752189

>>24748057
Obligatory: https://www.youtube.com/watch?v=oD2gXY4piF4

Imagine taking out a $9000 loan, buying 0.5BTC, paying $10 a month in effect to own that 0.5BTC. Years later, the 0.5BTC is worth $70k. You cash out $5k and pay off the whole debt. lmao... And it's not like the bank is now short $9000-$5000 = $4000 + the interest you'd actually owe. They created that $9000 out of thin air in the first place. They win even in this scenario, because from the money they created from nothing, they still got to deduct processing fees and all that shit.

Maybe the life-hack is to understand, that literally everyone wants you to take out loans and to consoooom. More loans means more money in circulation (debt creates money in a fiat system), more money in circulation, especially if used for consumption, means higher inflation, higher inflation means debt is payed off more easily. Who has the highest debt? The government.

Sure, they want the appearance that paying off debt is super important and you have to be prudent and smart about it, but in reality, it's a win-win-win situation between the private debtor, the public debtor and the bank. All are better off, so nobody is going to stop this.

>> No.24752224

>>24751910
It's not a mortgage or business loan, it's likely a personal loan (7.9% apr). Most working adults can request that for whatever they want, no questions asked. Hell, I have a credit card with a 60k limit and about the same APR. It is a good idea? fuck no. Illegal? No even a little bit.

>> No.24752246

Based. But since it is illegal, he should not post about in on twitter, using his own name.

>> No.24752263

nobody gets a 50k loan without it being backed by something. seems no more dodgy than an Aave loan. he'll just end up homeless, s'all

>> No.24752278

>>24752263
if you make more in a year you easily get that as personal loan. 60% of your annual is a definite go.

>> No.24752289
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24752289

>>24751703
Agree.
Early adopters of bitcoin were criminals. So you see the irony of these soijaks bashing the guy for taking a loan to buy crypto.

>> No.24752297

>>24748057
Taking debt is always retarded, no exception

>> No.24752311

>>24748116
what is margin trading

>> No.24752333

>>24752311
>margin trading an asset that has extreme volatility
A loan is unironically safer
>>24752246
How is it illegal to use a personal loan to buy an asset?

>> No.24752335

>>24748057
Imagine the insane gains BTC will make in the next 5 years.

>> No.24752371

>>24752335
thats the point
even if you technically can't afford to buy btc you can still make it

>> No.24752398

>>24752297

what is return on debt?

I was pretty comfy with the debt I took to buy real estate just to have the fucking idiots who pay me rent pay my debt off.

l2 business

>> No.24752422

>>24752333
Ask a burguer. The guy is from the US.

>> No.24752455

>>24752422
I am too, and I've never heard of this

>> No.24752658

>>24748116
>can't take out loan to buy crypto
Fucking 'burgurs kek

>> No.24752782

>>24748057

The idea is right but the timing is wrong - this regard bought the double top lmao

>> No.24752807

>>24752335

So, what if everyone will stop working and just buy this shit?

Idiots, idiots everywhere

>> No.24752890

>>24748323
It Is illegal anon but it's rare for banks to enforce it unless they have solid proof is not something they're spending resources tracking.
They don't care what you spend a personal loan on that's why they're charging u fucking 10% interest, 6% if you have a good credit history, because there is no collateral.
But if you read the terms if you lie to the bank then they're entilted to ask for the money back.
Say you tell em you need a personal loan for holidays and instead invest it on your business if they have solid proof they can actually take you to court lmao.
Banks have the upperhand in everything and we are beyond cucked as consumers, lucky for you banks know people asking for personal loans lie 90% of the time and they just cars about your income and interest rate.

But if someone reports you and shows them a fucking screenshot of your Twitter blatantly claiming to have broken the law well they're obligated to fuck you in the ass no lube.

T bank teller

>> No.24752917

>>24748057
people suggest others to take out loans to buy shitcoins on here all the time. all the sudden when some lib on Twitter does it, its "omg bro that's illegal how can you do that?", retards on here dont actually have an opinion on anything, everything is just disagree=I hate you, and agree=omg based

>> No.24752941
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24752941

you can't make this shit up

>> No.24753073

>>24752941
he is a retard yes. but his choice of investment strategy is near 100% chance to succeed and it requires no skills or expertise whatsoever. so he is smarter than 99% of bitmex degenerates.

>> No.24753119

>>24752941
Lmao, what a retard he doesn't know what futures is!!!

>> No.24753137

>>24753119
you would be surprised how small percentage of mankind understands them. most of them are stuck at the level of "you borrow money for buy an asset" not exactly how swaps work btw. they are more akin to a bet than a loan and position.

>> No.24753167

>>24752941
hahah what a retard! he doesnt know about gambling on futures like my poor hick ass!

>> No.24753168

>7.9%
Holy shit dude, banks are paying 0% and you couldn't get an interest rate lower than 7.9? He's making a lot of merchants very happy right now.

>> No.24753178

>>24753119
> lol what a retard instead of using his time learning what futures are and then gambling on 'mex, he's using his time at what he's actually good at making $30k of profit a month and reinvesting it in bitcoin conservatively leveraged.
Never change, /biz/

>> No.24753222

>>24748211
>>24748993

How does leveraged trading work then

>> No.24753315

>>24753167
>>24753178
>gambling
>futures
how much i pity midwits
you know enough not to ape into projects and lose all your money but you don't have the intelligence necessary to profit off market movements

>> No.24753874

>>24753168
i bet cib was happy with my apr too until i told them i made 170% on it this year alone.

>> No.24753881

he's a fucking idiot who doesn't recognize projects outside of bitcorn. also he could have done the same loan in March 2020 and he would have 18 btc instead of 2

>> No.24753890

>>24748057
100% retarded, but thanks for buying btc i guess

>> No.24753909
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24753909

>>24748057
>Based
>Retard

Based retard

>> No.24753930

Another tool hailing from Tool central - Bedford . Worked there once, I'm sure they snuck a retard into one of the sperm banks