If bitcoin crashes

[Anonymous No.49353268]

I am going to take out loans to buy a bunch. I just talked to a bankers today and can get a personal loan of $30k for 10% interest for 5 years. And then I also have almost $100k in silver bullion, and I am thinking of taking a loan backed by the silver for another $30k. If Bit Corn crashes to $10k, I would have 6 whole corns I make a decent amount of money so paying back these loans quickly wouldn't be too big of an issue. I just want to know I have the capital from loans quickly in case it dips low. Is this stupid or only kind of stupid?

[Anonymous No.49353320]

>>49353268
I don't know but I was going to do this in 2020 when I refinanced my house. In hindsight it would have been a good decision

[Anonymous No.49353358]

will the bank still give you the loan if SHTF soon? maybe take the loan and have the cash waiting

[Anonymous No.49353397]

>>49353358
I know I can get the silver collateralized one no matter what. Because you give them the bullion to hold until the loan is paid off. Will also be low interest rate because of that.

[Anonymous No.49353431]

>>49353320
Bummer. Ya would have been a solid play.

[Anonymous No.49353452]

>>49353268
It’s stupid to take out the loan. Period.
You can liquidate your silver, that’s ok, but I believe bitcoin still has room to roam downward as it seems to be attached to NDX movement and I believe that has room to drift down.
Bottom line: I’d hold on both those ideas, we haven’t seen the bottom yet.

[Anonymous No.49353470]

>>49353452
>You can liquidate your silver
Fuck that. I am not paying capital gains. Would rather take a loan against it for a low %. Fuck taxes.

[Anonymous No.49353602]

>>49353268
Great idea anon that’s called preparation. And Success=Preparation x Opportunity.

That’s Bear Badge material right there. Here’s yours.

[Anonymous No.49353620]

>>49353268
>30K
>10%
Nigger, don't

[Anonymous No.49353642]

>>49353268
But what if it crashes again after you buy in with your loan?

[Anonymous No.49353660]

>>49353642
Ya that's the risk. I am making enough from my lil business to pay off the loan is less than a year though.

[Anonymous No.49353688]

>>49353620
I wouldn't carry the loan long. Just if bitcoin spikes down it would let me get some.

[Anonymous No.49354398]

>>49353268
what kind of things do you need to qualify for a $30k loan? I have a 784 credit score and a 3200 after-tax/mo job. what can i wrangle?

[Anonymous No.49354595]

>>49354398
You can probably get one of you talk to a banker. Pretty risky at your income level though. Won't be easy for you to repay.