I have a solid job (~60k) and want to take out a 20k loan to put on ETH:NEO:VEN/WTC in a 40:40:20 ratio. I wont do it now, but in a short while once we've confirmed the floor.
Even if I lose every cent of the loan overnight, it's a payment of $80/week for 7 years which I can afford. Obviously this is the absolute worst case scenario. And I would probably cancel the whole deal/pay back what was left after going down ~50%.
How bad of an idea is this biz?
Why wait dumbass this is the new floor
For a long period, I held Vechain. I have to admit that I received some good gains in % on Vechain.
The main reason why I invested in this altcoin was a result of their great marketing techniques and a strong community.
Over time I became more experienced in investing into cryptocurrency and instead of listening to what others had to say, I start looking at whitepapers, the quality of development teams, leadership, advisors etc.
Ones I reviewed my portfolio I recognized that some of my coins and especially Vechain did not follow the criteria of (controlled) speculation and does have some critical red flags. These red flags I want to share with you.
Vechain does not have a whitepaper
There is no knowledge about their developers
There is no Github activity.
Their website is a that of a very low quality.
They mention on their website the release of a so-called Clou(n)d platform in Q4 2017. I started a Reddit post to ask what a clouNd platform is. Nobody could answer me. I tried to ask the Vechain devs in discord, nobody was able to contact me since they were working on their main net.
The coca cola kid is clearly a sign of insiders trading.
Low-quality partnerships brought as HUGE partnerships. For example the DNL GV partnership, there is clearly a partnership, but DNL GV gave an official press release that DNL GV cooperated with Deloitte labs to create blockchain, so I would like to know how exclusive this is. The PWC partnership is a partnership as a third-party provider, the partnership with Liaoning Academy of Agricultural Sciences is brought as something big, while Liaoning Academy of Agricultural Sciences only published one article in the whole of 2016-2017. In short: Any partnership has some way or another some flaws.
Some advisors of Vechain have still Lorem ipsum on their website.
with that said I’d go all in NEO
It is an idiotic idea. You'll react poorly with borrowed money (and your sub-human IQ).
Sell a kidney, buy some kneepads or get a second job. Or you know, save more cash by living frugally
this.
It's not a bad idea
Get a personal loan, but you may want to hurry. Federal Reserve interest rates are rising and it means all consumer loans have their rates increased too.
copy paste. Stay poor cuck
OP, my former colleague also did this, and it paid out, he bought 20 BTC for $450 in the dip.
Instead of VEN/WTC I would go into BTC.
But the absolute necessity is that you believe in your coins, and hold full retard. Otherwise your plan will not work. If you will panic sell to realize your loss, then your whole plan is wrong.
absolutely this
Ok OP, instead of just NEO, why not put a bit in gas? Upcoming neo ico's will run on gas and given its limited supply, I believe it will grow more than Neo will. Also, stick to Vechain: All of the partnerships of vechain will need thor (comes out in june) to use the blockchain. So every big company will simple mass buy vechain to generate thor. Meaning circulating supply will go down by a lot. Vechain will also be a platform and already has multiple aspects of the supply chain that it plans to take care of (not just luxury goods)
If its such an amazing opportunity why is the bank giving you that money instead of just buying those coins themselves with it??
>a fool and his money will soon be parted
Easily the most retarded response I've seen on biz today
Almost all experts are saying it will retest 6k or lower. Haven't you been paying attention?
I've been in NEO since ANS and I believe with every fibre of my being.
Top brainlet award goes to you....well done you have won!
The point of cryptocurrency is to get free from the jews. Taking a loan makes you a slave of the jews.
yeah, but 20k isn't a lot, and you could easily 2x, 3x, 5x etc. You have a good chance to simply make money off their money. And then you repay the loan in fiat.
>experts
You are a fucking idiot. Never risk anything you can't afford to lose. Didn't you learn anything from the December fomo?
Pick one safe and one risk you get a good feeling about and remember any suggestions here are only because that person is holding. Everyone here shills VEN to each other here, if you believe in it don't listen to the fud, ignore it. I am 90% in WTC. My advice is pick one you have researched thoroughly and get the best vibe from and stick it out long term. Chances are a lot of these leading projects will be worth considerably more in the coming future so don't loose money by jumping ship.
>Experts
this, also cashing out if it goes below 50%is a horrible idea, could eassly happen with the swings in crypto.i thought you said you did not care about the money. it would be much better to pay cash and buy the dip, you won't get it right everytime but you will get it at a good price. please don't get a loan that is for redditors & normies.