I just took out an $11k loan at 6...

It's very risky, you're betting on a loan in a volatile and very new market with little to show outside of small-scale implementation, potential, and hella speculation.

That being said, if you play your cards right and diversify a bit I think you'll make gainz.

are you a troll? this has got to be a troll.
if troll 6/10 for rustling some jimmies, if not 0/10 for being a dense fucking retard.

what's trolling about this?

I'm being loaned money at a good rate and putting it to use in something I believe in

that's how the whole world works

bretty good loan with ETH speculation driving the market to ATHs

buy the dip and it'll pay for itself easily

Never take any risks, goy :^)

So what just work some office job for the rest of my life?

well i admit im not a financial expert, but i hardly ever take out loans. I either work more or find money some other way, because paying interest on loans or credit cards is literally just flushing money down the toilet every month

Because of the time value of money you mong. If he can service the debt why wouldn't he use leverage? Have you ever heard of a leveraged buyout? Literally the exact same concept.

Taking on a loan to make more money is literally the opposite of this. The US higher education system, mortgage system, and the entire bond market is predicated on this concept...

But i guess paying cash is the way to do things. 1931 called. They want you back.

I'm considering doing something similar with $20k that I can get for 6% APR

If you have no liquid funds why the fuck not! Nice risk play user. If it corrects a bit don't worry. Just HODL

Taxes are going to negate any profit you could make. Breaking even at best.

I already put $22,000 in , and I'm considering putting more in maybe even my savings, the problem is that I'm addicted to seeing the percentage gains from having bought in around 160 to 180. And I remember that you should never put in more than you're willing to lose. I think I'd be pissed off if I've lost 100,000 to absolutely nothing.

that's great but it's too small time for me at this point if I were to invest my own cash

I've been in crypto since 2012 and just watched my pithy initial investments snowball into something not quite as pithy. It's fucking annoying. Although I can see where blockchain technology is headed I can't make any money off of it because I have no starting capital. I got offered a nice loan rate and I think even if ETH plummits to zero I will still be fine. It would definitely sting but it wouldn't change my quality of life at all since I still sock money away in my IRA normally. My plan is if I get to 2x to pull out 1/2 and pay off the remaining principal.

bullshit

>diversify

my current portfolio is:

>60% eth
>20% btc
>10% ltc
>5% ppc
>5% xmr

I'm thinking of putting most of it into eth since the upcoming btc uasf is a bit worrysome imo

not if I hold for a year and just keep paying off my loan with my paycheck

Never use leverage user.

It's nice until it destroys your life.

When is it?

whats wrong with it? as long as you have a real job and can make the payments I don't see a problem

>Never use leverage

see What's the difference between using my IRA that's earning me well over 7% and using the bank's money? If ETH dies then I just take out my IRA money and pay the bank. It's the same fucking thing.

aug 1st

get familiar with capital gains

taxpolicycenter.org/briefing-book/how-are-capital-gains-taxed

>Taxpayers in the 10 and 15 percent tax brackets pay no tax on long-term gains on most assets

I have and I'm still calling bullshit

>get familiar with capital gains

Also it's clear you are just FUDding since the term "capital gains" is in and of itself a GOOD thing for taxes

It means you get a lower tax rate than your normal income on certain long-term investments

you're actually fucking retarded, ETH is set to tank for the next week LMAO

>calls someone retarded
>tries to time the market

I'm gonna be nice to you.

Wait for a dip and buy $Shift.

Thank me a month later.

friend, i remind you of a few things. you are speaking as though it is a FOR SURE thing that eth is going to keep skyrocketing. it may, but it may not. it may dip or hover right where it is for the next 6 months. literally no one knows. also, like my grandfather always use to say, if its literally FREE money, guarenteed, then everyone and their monther would be doing exactly what you are. every human being on earth would take a 10k loan if they knew for certain they were getting 30k back. the fact is, there are a ton of variables and its a huge risk, and it is definitely not a "for sure" thing

Wow! Thanks for the tip Mr. Noseberg

Your loss.

>implying everyone and their mother is familiar with ethereum and how to purchase and store it
>implying everyone is familiar with the research I've done on smart contracts and their potential

It's not a FOR SURE thing, nothing is. But it's the most realistic option for me to make a decent chunk of money at this moment in time

I think the odds of ETH going up are a lot better than trying to land red on the roulettes in vegas and tons of people do that

it does look interesting user but I don't think I'll be able to get my money from the lender>bank>gemini>bittrex fast enough to capitalize

you are crazy if 6.9% is the best you could get lmao

it's the best I could get with 3 day turnaround

where can you do better?

Did your grandfather also tell you what it was like before the dawn of the horseless carriage? Of course it isn't a sure thing, but if OP wants to get levered up and amplify his buying power, then he has every right to do so.

Regarding capital gains, if I were to do this I'd set up an S-Corp, name it "user's Investment Bros, Inc." and use the interest on the loan as an expense to offset any investment income. Is also pay myself a salary and an "employee of the month" bonus and deduct that as payroll expenses. Then I'd deduct the cost of my computer, my clothes (my work uniform), and my internet access. Suddenly, the "company" is just barely breaking even. Imagine that.

Or invest at the right time, I mean his 11k will get him less ETH now than 500 would have gotten him 5 months ago. "UUUUUUR DUUUUUUUUUUR BUT ITS STILL GONNA GO HIGHER" - not the point. He was too stupid to get in early, he'll most likely be too stupid to get out in time too/make more life-not-changing mistakes.

we got a faggot who doesn't understand how to leverage money right here

>Am I crazy?

Yeah, you are doing idiocy, but besides that people take loans to buy this shit when its bubbling. Another top bubble indicator.

God OP is such a moron

Go all in, get all the credit cards. If things end up not working out, F it declare bankruptcy.

>please by this coin that got pumped today
go back to your discord you pajeet

I'm all in too.

I just got some pepecoins, I'll see you on the moon OP!

Sounds retarded tbqh

But atleast you dont shove it into posw or mooncoin tho DESU

Done the same OP on a 0%APR credit card but only $6k

>ITT: An ETH holder pretends to have taken out a loan to purchase ETH to instill FOMO on potential ETH buyers and holders

What a coincidence dear Ethereum™ Transaction Token™ holder, I too have taken out a 500 000 usd loan to buy ETH.

Cryptocurrency literally came in existence because the debt model of the economy is unsustainable.

Doesn't mean you can't profit from it, but pointing out at a house on fire to say there's nothing wrong with using wood is not a very strong argument.

Dont borrow to satisfy your FOMO. At this moment not sure about timing here. Other than that literally no problem here.

it'll be worth it if you dont panic if the price falls

>shitcoin pumps
>idiots buy the top
>shitcoin dumps
>idiots try to stop it by shilling on leddit & chinese cartoon board

Always a classic. Expect much more shilling for the next week or so while eth retraces.

>funding crypto with credit cards
Seriously nigger? If you are any good at trading you can start with fuck all and build up without any risk or fees. The fact you said "another" makes me think you didn't double you money and pay off the card first time around.

Godspeed user.

I specifically got a 0apr credit card just to max it out on crytpo. Just recently got my buy limit on coinbase increased to 2000$. Memes be with you user