So close to taking out a loan

I make 60k after taxes and my living expenses are around 30k. Is there any reason why I shouldn't take out a 100k personal loan and put it into crypto? (Might try to set some low buy orders around 7k for a few weeks first to try to catch a flash crash). Looks like I could get a fixed APR around 7%. Even if all the loan money went poof for some reason, I could repay it in 3-4 years.

As soon as the money doubled I'd take out the principal and repay (no early repay penalty at my bank). Then I'd have an easy 100k and only need to 7-8x it to be able to retire from my job.

I feel like this would give me a lot of comfort. Right now I only have 8k invested and I feel like I need to chase every rumor and go all-in because 8k passively invested in BTC or a top 20 basket is never going to get me to where I need to go. But 100k would. I could just stash my coins on a ledger and stop fucking myself trying to actively trade. I could just chillax, ride the reliable big cap gains and be a millionaire in a year or two.

Give me reasons why I shouldn't do this, Veeky Forums.

(pic unrelated, I'm not fucking touching chainlink ever again)

>touching chainlink ever
>wanting to take out a loan to catch flash crashes
Maybe spend your money on fixing your gambling addiction

Do it OP. There are no flaws in this plan.

Go all in to chainlink and put that guy who reverse mortgaged his house for 3x gains to shame. Or, die penniless in the streets. Either way, you'll live forever in Veeky Forums history as a supreme meme.

>Is there any reason why I shouldn't take out a 100k personal loan and put it into crypto?
Lmao !!!

Honestly, if you're single and want to take that risk, go for it.

I have a kid so I gotta play safe, otherwise I would have done this earlier this year when I found out about crypto.

Only put as much money as you're willing to lose.

Kek
F

I'd do it, but I'd do BCH, ETH, and XMR

40%, 30%, 30%

I'm single, no gf, no wife, no dependents. And like I said, I would have no problem paying it back in a timely manner if the money evaporated. It might set my planned early retirement back 2 years or so, but I feel that's an ok risk to take when I could push my retirement forward 2 decades if things go well.

I'm not a retard who thinks the bubble will never pop, but seeing as how institutional money hasn't even entered the space yet and the crypto cap is less than 1/10 of the tech bubble at its peak, I feel this thing still has at least a year and 10x more gains left in it before it all goes up in flames.

this

do you have a screen cap of the guy? i want to see that shit. fucking epic if he pulled it off

This. Success or failure you will be a fuckin legend.

why the fuck are you not touching link? Its price is low af and even a small increase from now on will mean nice gains, let alone a moon mis to 1$+

>all I have to do is double my money, and then multiply it by 7-800%!

Sounds easy OP, obviously you should take on an enormous financial risk in pursuit of this

DON'T DO IT I ALREADY MADE THAT MISTAKE I'VE BEEN HIDING FROM (((THEM))) EVER SINCE

Honestly though it sounds like you thought it through and have the means to repay. Not like you work at mcdonalds and want to take a 100k shark loan out. And there's nobody you're going to hurt but yourself if it goes south. So if that's the game you want to play with your money, I honestly don't see it as a problem. Have fun OP and report us your gainz if you make it big.

And this is what happened in the dot com bubble. Good luck either way.

>loan
no
>i earn 60k and spend 30k
10k now, 10k in 3 months, 10k in 6 months
>i want to retire
well if it fails you're gonna have to wait a lot longer to retire.
>all these people saying it's a good idea
they don't give a fuck about you and neither do i

he's an adhd retard who thinks he is a trader

>solves the oracle problem
this is a no brainer go take (((goldbergs))) loan