Taking bank loan for bitcoin? Suggestion

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Old Nov 4, 2017, 11:14pm   #1
 
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Taking bank loan for bitcoin? Suggestion

Hi Folks,

Last month value of 1 bitcoin was $3300 and now it is more that $7000
i am considering a bank loan to buy bitcoin. What do you suggest?

Should I go ahead or wait?
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Old Nov 5, 2017, 2:39pm   #2
 
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Quote:
Originally Posted by Amanji View Post
Hi Folks,

Last month value of 1 bitcoin was $3300 and now it is more that $7000
i am considering a bank loan to buy bitcoin. What do you suggest?

Should I go ahead or wait?
Please don't do it, do not bet money you cannot afford to lose... this looks like the dot com bubble all over again...
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Thanks! The following members like this post: IceMan
Old Nov 5, 2017, 2:54pm   #3
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In all pyramid schemes, you need to get into them as soon as possible. $7000 is nowhere near the top. Back in the days, a single tulip bulb was worth more than a house. So $7000 is just loose change.

If you do go ahead, please do a wabu style thread and report on daily performance. The funny thing is. I told wabu to jump into bitcoin but he didn't listen. Now he missed doubling his money or more.
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Old Nov 5, 2017, 3:22pm   #4
 
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Did you invest in Bitcoin, did you double your money?
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Old Nov 5, 2017, 3:42pm   #5
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Did you invest in Bitcoin, did you double your money?
No, I don't do bitcoin. I am a geek and understand roughly the underlying technicalities. I see no economics. So it doesn't interest me. Even so, pyramid schemes work in most parts. The key is getting in early.
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Old Nov 5, 2017, 4:57pm   #6
 
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Originally Posted by Amanji View Post
Hi Folks,

Last month value of 1 bitcoin was $3300 and now it is more that $7000
i am considering a bank loan to buy bitcoin. What do you suggest?

Should I go ahead or wait?
Which country do you live in & what are the bankruptcy laws like.

If the downside is bank are screwed because you lost their money & don't have any assets - then go for it....
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Old Nov 5, 2017, 6:15pm   #7
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When the collapse comes, Bitcoin at 7k is going to look very cheap.

http://www.zerohedge.com/news/2017-1...ptions-market-

1987 - a spectacular crash.
1997 - the Asian crisis.
2007 - the subprime crisis.
2017 - ?
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Old Nov 5, 2017, 6:49pm   #8
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Tulip Mania.
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Old Nov 5, 2017, 6:52pm   #9
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Originally Posted by counter_violent View Post
When the collapse comes, Bitcoin at 7k is going to look very cheap.

http://www.zerohedge.com/news/2017-1...ptions-market-

1987 - a spectacular crash.
1997 - the Asian crisis.
2007 - the subprime crisis.
2017 - ?
thanks CV, you missed a bit from the link ..

http://www.zerohedge.com/news/2017-1...lity-collapses
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Old Nov 5, 2017, 7:00pm   #10
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thanks CV, you missed a bit from the link ..
You are in luck. The barjon technique will make a killing on this correlation divergence.

Click the image to open in full size.
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Old Nov 5, 2017, 7:32pm   #11
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^^^ that's a volatility chart..
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Old Nov 5, 2017, 7:37pm   #12
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thanks CV, you missed a bit from the link ..

http://www.zerohedge.com/news/2017-1...lity-collapses


https://www.bloomberg.com/news/artic...eone-else-will
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Old Nov 5, 2017, 7:56pm   #13
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74% long so that would be 26% short on IG?


https://www.ig.com/uk/ig-forex/bitcoin-1
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Old Nov 5, 2017, 9:42pm   #14
 
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Originally Posted by DionysusToast View Post
Which country do you live in & what are the bankruptcy laws like.

If the downside is bank are screwed because you lost their money & don't have any assets - then go for it....
I am from India.. they will throw me out of my house if I fail to return their money.
Current price is $7500 wtf, how far it can go? Economists are saying that it will reach $15000 by March 2018 and It can go upto 100k in next 5 years.
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Old Nov 7, 2017, 11:00am   #15
 
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I am from India.. they will throw me out of my house if I fail to return their money.
Current price is $7500 wtf, how far it can go? Economists are saying that it will reach $15000 by March 2018 and It can go upto 100k in next 5 years.
The Millennials keep telling me I'm crazy for buying gold & silver because Bitcoin is the future...those Millennials are so wise!
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