well , some bank I know , they would regularly sneak up on you , ask you to provide detailed proof of use for your loan , invoice , financial statement etc .... If you can't provide that , they will ask you to return the loan ASAP .
There are student loan \ house loans , but no BTS loans ....so ...
You can take a personal loan. It doesn't even have to be a huge loan but if each of us put $20,000-30,000 into BTS we'd all be millionaires if it hit $1 and the act of putting that much money into it would cause the price to rise, bring media attention, etc.
So it's almost a self fulfilling prophecy situation where the more money that gets put in the bucket the more attractive the bucket gets and then other people start putting money into the bucket.
The interesting feature of Bitshares is that you have BitUSD. So if you took out a $30,000 loan to buy BitUSD and just hold it in BitUSD until after people dump the price down then you'll end up with your money back plus BTS. If that doesn't happen and it kickstarts the Bitshares price up to $1 then whatever BTS you were holding before you took out the loan would be worth a lot more money.
Tell me how you can lose here?
No, I would never take out a loan for an investment, no matter how good it may seem.
But yes, I think this is a good moment to buy, if your not planning on selling tomorrow.
Yes, definitely this.
That is irrational. People take out loans all the time for college or to buy houses. Why not to buy BTS?
Do you have enough faith in the protocol to believe the price will go up from here? If you do then why not make a margin trade?
It's always against bank policy to use loan to invest in financial product .
Even if you can return it , it would leave a nasty credit report , because the use of loan won't match the financial records .
The purpose of this poll and post was to try to find out just how confident the community really is that the price of BTS will reach $1. If you really think it will reach $1 then what stops you from taking out a loan and buying 1 million BTS? If you don't think it will reach $1 or you have several rational reasons why it's too risky to make the bet I'd like to hear that.
But just saying you wouldn't do it because it's somehow always incorrect is irrational. It's like saying it's always incorrect to take out loans when most people take out loans to make investments whether it is to buy a house they think will be worth more in the future, a college education they think will get them a high paying job, or a business they think will make them a millionaire.
Bitshares is like that startup which could make you into a millonaire if you put enough money into it. Why not go for broke? Bad credit?
Because the best protocol doesn't necessarily mean the adoption of bitshares. With a media blackout from Bitcoin...
People like Counterparty, Ethereum, Ripple, Nubits...we are seeing a new "elite" creeping in who will form alliances against projects with philosophies like bitshares. BitShares is the BEST protocol, but that doesn't mean these institutions will not just steal certain aspects and change the shareholder voting, coupled with a huge marketing campaign through the established crypto channels (and in the case of Ethereum/Bitcoin, the "alternative" media channels) to make users feel good and drown out the voices of concern.
Taking out a loan right now...as confident as I am in the tech, is not a good idea. The best thing to would be to take out a loan and diversify within the DPOS ecosystem...unfortunately we have a real community divide on that one--where many see clones as taking away from their piece of the pie. Of course, most of the opponents somehow, oddly, were drawn to this ecosystem by the idea of having a stake in multiple DACs, so I am confused by this one.
In summary, our community is still evolving and figuring out what this tech means to us. We are constantly traveling against stiff headwinds...and our competitors are able to steal our toolkit without ever being called out in a way that reaches a large user-base. These are the reasons I would not take out a loan to buy bitshares.
The reason Bitcoin was risky to take out a loan for was the volatility. Bitshares doesn't actually have much volatility so what is the risk in taking out as big of a loan as you can to buy BitUSD?
Then you hold the BitUSD for a period of weeks or months until the price of BTS decreases. If the price decreases you can buy even more BTS and if the price increases then you might have less but if you trade right why wouldn't you end up with more BTS and still have the BitUSD to pay off the loan?
It's risky and maybe not the thing to do if you're not 100% willing to take a leap of faith but I do think you can at least make an argument for doing it. I think you can actually sort of look at this poll as an indicator of the likelihood that BTS will reach $1.
If people believe in it enough in the core community to take out loans for it then that is the reason to believe in BTS as a person who doesn't have any. It's the level of commitment and risk that the current community takes that can give you confidence so if everyone says they wouldn't take out a loan for BTS then maybe they don't really think the price is going up and that means it might be a good time to wait for some people to dump their shares as this is a bear market.