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/biz/ - Business & Finance

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5729235 No.5729235 [Reply] [Original]

>He didn't take out a loan 6 months ago to chase crypto!

Do you hate money or something? I took out a 40k loan literally just a month ago and I'm already 3x on it. This is just with investing it in safe big-cap coins like XRP and XLM. I pulled out the principal now and paid it back early, and now along with some earlier money I put in, I have 110k to stuff into the moon rocket(s) of my choosing.

It's stressful chasing gains when you only have pocket change to play with. 2x isn't enough to make it, 10x isn't enough to make it. It makes you feel like you have to chase every scamcoin to get ahead of the game. When you hit six figures you start to peace out though. Just buy strong coins and HODL. 10x EOY and you've made it.

Taking out a loan is the best thing I've ever done for my wallet and for my mental health. What's holding you back?

>> No.5729296

how am I meant to get a loan as a NEET who has never been employed

>> No.5729325

Only risk what you can afford to risk anon

>> No.5729343

>>5729296
Get a fucking job retard.

>> No.5729372

>>5729235
NO NO DON'T TAKE MY HOUSE I'M UPP IN SATS I CAN PROVE IT

>> No.5729399

>>5729235
Wish I would have done this desu could quit my fucking job

>> No.5729469

This is why poorfags stay poor. Bad credit, low income, can't get a loan.

Meanwhile I just take out a loan and use my line of credit to invest into crypto and go travel Eastern Europe and SE Asia.

Come back 1 year later rich as fuck and didn't even have to do shit besides bang Thai hookers.

>> No.5729584

>>5729235
all inned my student loans on the china dip

>> No.5729627

I know it's a brainlet move to actually do this, but I'm considering it.

I already have 110k in student loans so, fuck it, what's another 30-40k on top of that?

>> No.5729628

>>5729235
I did a 50k loan and am 3x on it with XRB. We are going to make it anon.

>> No.5729650

grats to all ya'll who have the balls to take out loans. I never would do that, but luckily I bought in back when BTC was only 1000.

>> No.5729659

>>5729584
Man, I wish I'd had 40k to invest in the China dip. That would have gotten me 13 BTC. 4.5x minimum even if I hadn't chased any altcoins.

>> No.5729672

Maxing out 3 different credit cards on coinbase to buy over 100 eth when it was under $50 turned out to be the best decision I've ever made

>> No.5729678

I don't want to sound like plebbit but I think you should pay the back the loan now and play with house money.

I don't like the whole plebbit 'Don't risk more than you willing to lose' meme but being in debt to kikes? Fuck that.

>> No.5729742

>>5729650
Maybe just because I have awesome credit and a stable job, but they never asked me what the loan was for (went through SoFi). I was really relieved. I admittedly lost some sleep when I applied thinking they were going to grill me, and I had a bullshit story concocted about wanting to start a side business flipping collectibles (technically true!).

Instead they gave me one phone call to confirm my name and address which lasted 30 seconds. Then the funds dropped into my account the next day. Incredibly easy.

>> No.5729767

>>5729627
>I know it's a brainlet move to actually do this
And this is why you will always be poor

>> No.5729777

>>5729469
fuck that makes me so angry about my life choices thus far. absolutely wrecked my credit from student loan debt. fell for the meme and now can't simply take out a loan, 3x it, pay it back and be set.

>> No.5729783

>>5729678
I did that anon, the loan's paid back in full. I made 80k pure profit in one month, that's 1.5 years' salary for me.

>> No.5729812

>>5729235

Fucking amature. I bought some Verge months ago for 900 dollars. Sold at 28 cents and cashed 60K.

Put 20K aside to live from this year and reinvested 40K. Allready up to 55K again lol.

>> No.5729867

>>5729742
I also did SoFi and was surprised how incredibly easy it was. I got instantly approved for a loan for approximately my annual salary with no collateral. They didn't even ask a single question like this anon said.

>> No.5729938

>>5729783
Smart man.

Lambos in your future son. Plebbit doesn't seem to understand that you have to take high risk to make it.

>> No.5729971

>Taking loans to invest

No matter how sweet and surefire the thing is, I'll fucking never do that.

>> No.5729989
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5729989

>>5729235
>takes out loan to buy ripple
How gay are you?

>> No.5730078

this is advanced pajeeting.

do not, EVER, invest in cryptos more than you can handle.you dont have to make it into lamboland, know how to work with what you already have.

>> No.5730136

>>5729989
>take loan from banks
>buy their coin with said loan
>sell it back to them for profit

jewing the jews its so simple

>> No.5730174

>>5729469
You sound like a happy man who leads a fulfilling life surrounded by supportive people.

>> No.5730241

>>5730078
>>5729971
It wasn't a random irrational thing. The worst case scenario was that my money goes poof and I spend 3 extra years paying the loan back instead of saving for retirement. So, 3 more years of wage slavery. The best case scenario is that I 10-100x my money within a year and get to shave 3 DECADES of wage slavery off my life.

So, 3 years of more work vs 30 years less work. That was an acceptable risk to me. And it paid off in a big way.

>> No.5730335

>>5729372
fucking lol

>> No.5730357

>>5729235
Retard

>> No.5730363

>>5729235
Have made 10k since summer and I see the writing on the wall. Applied last week for a modest loan (5k) and it’s coming thru this week I hope. The idea is to take my 10k and this extra 5k and 10x this year. Then 10x in 2019 and make it. You have to have the balls to risk losing it. Good job anon.

>> No.5730395

>>5730136
famous last words of our Lord and Savior Jesus Christ

>> No.5730404

>>5729971

This is why you won't truly make it. At some point great people take incredible risk and put everything on the line for a dream.

I maxed out my credit card now and put every single dollar I had into this. Now I have 10k cash and 25k invested.

>> No.5730420

>>5730241
This. Go big or go home. I can't stand being a wage cuck and I haven't even been working for a year. I don't know how you all do it.

>> No.5730528

>>5729742
>>5729867
They legit asked you NO questions? That is the big thing holding me back. I have no prob going into debt but I would lose all my spaghetti if they called and asked what the loan was for. I'm shit at lying and no reputable bank would lend money to someone if they knew it was going to be used to buy cryptokitties and DOGE.

>> No.5730565

>>5729627
If it doesn't work you can always kill yourself

>> No.5730566

How to get a loan as a 20 year old neet?

>> No.5730592
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5730592

>>5729235
How about me who saves up money by not eating every second day, not buying pretty much anything like cloth and games, not driving to uni by car and pretty much living only for crypto?

People like you think to themself they are smart but I already have over 500k from starting with 19k that I saved up after 6 months. I feel like I've got the Eye of the tiger right now because I'm hungry as fuck.

You will never surpass me, because you never had to suffer as much as I had.

Good luck faggot.

>> No.5730603

>>5729296
https://saltlending.com

>> No.5730613

Haha. So many scared cucks here. OP did a smart move.

>> No.5730627

>>5730528
They called me and asked for:
1. name
2. birthday
3. address
The next day I had 50k in my bank account

>> No.5730633

>>5730528
Literally zero questions about the purpose of the loan. I don't know if that's policy for everyone or just for people with amazing credit (835 FICO). Again, just ONE phone call where they verified I am who I am (address, DOB, SSN). And then the money was there the next day. About a week total from application to funds available.

>> No.5730684
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5730684

>he got in 6 months ago
I put $20 in 4 years ago and have made more than you.

>> No.5730699

>>5730592
Anon, I'm happy for you. I hope you make it in a big way and can eat kobe sliders and caviar every day for the rest of your life.

>> No.5730727
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5730727

>>5730684

>> No.5730804
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5730804

>>5730727
Time those sells for gains, avoid the angry doge.

>> No.5730863
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5730863

>>5730136
If you come out at the end of the trade with USD, XRP or XLM, you've been jewed

>> No.5730865

>>5729235
kinda want to sell my 981 cayman gts and take that ~75k or so and put it in immediately but meh

>> No.5730908

>>5730865
Do it anon...January is going to be huge for crypto.

>> No.5730951

>>5730908
ya but i want my car back though when i make the money back...

what other options do I have? just a normie loan?

>> No.5731030

Idiot OP you are a gambling faggot, and that's it.
You have no idea where this market is going , we can wake up with 20% loss on all our coins one day. Followed by more losses, BTC has gone to shit. ETH could go to shit, transfering coins to those two to cash out would mean SHIT returns. This is all possible

TLDR : OP is happy he got lucky but he is a dumb gambler and will get bitten one day-

>> No.5731117

>>5729777
At least you got some nice digits

>> No.5731439

>>5731030
It was a calculated risk and the gains were not guaranteed. I had envisioned the worst possible outcome and was at peace with that outcome if it occurred. How is that dumb?

If doing this is dumb, then taking out a loan for any business-related reason is dumb. What if I'd taken out 40k to start a small business? There are external factors beyond my control that could easily tank my business no matter what precautions I take. Maybe I start a restaurant and then another huge recession hits, and nobody has spare money to eat out anymore. It's just as much of a gamble.

Better to never take risks and cuck it out for another 40 years at the ol' 9-5, right?