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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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14117898 No.14117898 [Reply] [Original]

How to decide where to borrow/lend p2p?

>> No.14118114

I unironically took out a 5 year 20k lending club p2p loan (19 after loan origination fee) to buy BTC at 6200ish in 2018. I got a little over 3 BTC out of it. Now my loan is at $16500 making only minimum payments of just under $400 and my BTC is now worth 25k.

It is worth it now, but I can’t tell you the dread I felt watching my loan balance at 18k and my BTC at 10k. I almost panic sold and cut my losses. My gf held me as I cried about what a mistake I had made. Lucky for me I have strong hand. The date I texted her and told her I was breakeven was a happy day for us both

>> No.14118249
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14118249

>>14118114
>My gf held me as I cried about what a mistake I had made

>> No.14118370
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14118370

I've been testing out prosper. I've been... surprised by the returns, honestly.

Like, if
a) I ever actually make it in crypto (unlikely but w/e)
and b) I didn't know better that shitty consumer debt was a terrible bubble waiting to pop

this would easily be my go to for post-making it passive income

>> No.14118397

>>14118249
This

>> No.14118528
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14118528

>>14118114
I really.... really... really want to do this rn. I have such a hard on for the current trend. I want to believe so hard that we're really already heading towards another bull market. I really want to just leverage the fuck out of myself and actually make it.

Like fuck, if I just put 10,000 into LTC and it 10x in the next bull run.... Either house paid off or both my and wife's student loans gone.

it's so fucking easy and wouldn't take fuck all. But here I am. using only straight cash to pay for LTC, waiting for it to go up.

>> No.14118623

I can not recommend, as the feeling of having more debt than you can pay off is sickening. I almost sold at 10k, and I’d still be paying off the 9k at this point while watching crypto moon.

Just DCA in, dont get in debt.