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/biz/ - Business & Finance

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9656149 No.9656149 [Reply] [Original]

i have the opportunity to take out a $100k loan with 20% interest. i currently have 0 net worth, 0 savings in the bank. i do have 10,000 LINK already so I am in pretty good shape. i also have a $50k student loan debt but i have 20 years to pay that off. i make about $15 an hour so $30k per year. with this loan i would immediately be able to increase my LINK stack to 330,000 LINK. if that made me a multimillionaire i could then pay off my loans and retire. the only downside i can see is that if BTC tanks more then LINK might drop and i would be in trouble to pay back the loan. but is it worth the risk? what should i do /biz/. this seems to me the opportunity of my lifetime.

>> No.9656155

>>9656149
do it

>> No.9656159

>>9656155
thank you this is what i am leaning towards too. anyone else?

>> No.9656163

>>9656149
Don't fucking do it.
You would have more LINKs than me.
Fuck that.

>> No.9656166

>>9656149
Invest it in holo instead since you already have enough linkies to make it

>> No.9656170

deadset retard if you do it, don't go full retard

>> No.9656172

>>9656170
why?

>> No.9656182

>>9656149
How did you get the loan? I am literally in the exact same situation with 40 k student loan debt and making 15 an hour. I only have 2.5 k link though. Please give me more info.

>> No.9656183

Just go to the casino

>> No.9656185

>>9656166
holochain seems like a meme to me.

>> No.9656192

Whatever you do keep your private keys away from squirrels

>> No.9656201

I think it is a great decision. Link will be 5$ soon, thats a measly x10. I’d be all over that deal

>> No.9656206

>>9656182
i found someone who i know to give me a private personal loan. when i told him how amazing an opportunity LINK is he was confident i could pay him back. but he does not know shit about computers so he is too worried he would do something wrong if he tried to buy LINK for himself.

>> No.9656209

Anon, this is way too risky. Take out a loan for 10-15k if you must do this. If things go wrong you won’t be completely and utterly fucked.

>> No.9656222

>>9656209
yes but then i also would not make it as much if LINK does moon.

>> No.9656226

http://boards.4chan.org/biz/thread/9655412#top

we need help digging with some stuff. Has to do with that faggot astro

>> No.9656230

>>9656172
is that 20% APR? That's worse than credit cards. Nobody should take out any size loan at 20% APR, for anything ever.

>> No.9656234

>>9656230
what is APR exactly? it is 20% interest. is that the same thing?

>> No.9656238

>>9656222
I honestly don’t even know if this is larp or real. I’ve borrowed large sums of money to invest and it has paid off. With that being said for an amount that large you would be idiotic to not diversify if shit hits the fan.

>> No.9656239

I would be glad for anyone to point out where I'm wrong, but, I haven't seen any actual development in the last 6 months that would make me consider putting $100k into LINK. I've seen relentless shill posts, but nothing that would make me actually put borrowed money in it.

>> No.9656248

>>9656222
Doesn’t matter, this is way too risky. Don’t take a risk that could seriously ruin your life. Take one you could handle if things go wrong. With 150,000 link you’ll be a millionaire at $6. It will happen.

>> No.9656253

>>9656234
20% is absurdly high. Shit car loans average about 8%.
20% doesn’t mean you pay back $120k and that’s it, it means you pay back 20% of the balance each year plus account keeping fees, startup fee etc.

>> No.9656260

>>9656149
Anon you want real advice? Don't do it. You will feel suicidal if you lose that money that you wont be able to pay. If you know what you are doing and you are well versed in TA then go ahead but if you are just investing for long term gains please think twice.

>> No.9656264

why are you even asking here? just do it

>> No.9656270

It would be hard to go wrong with many of the top coins at these prices, but LINK wouldn't even make it into a $100,00 portfolio diversified over a dozen coins if I were putting credit card money into crypto.

>> No.9656272

>>9656253
Kek OP will be in collections before the singularity
20% and asking this question...OP do you even math?

>> No.9656275

>>9656253
i know 20% is high. but you've got to understand something. no bank will give me this loan with my income. so this is my only option. would you do it in that case?

>> No.9656290

>but is it worth the risk?

No.

>> No.9656291

>>9656272
what do you mean? i thought it meant i would have to pay back $120,000 over time. and i can start with some money from my job this year. plus if LINK moons by end of year 2018 or 2019 i would be in good shape to pay the rest back. why would this not work as long as LINK moons? i understand why it would not work if LINK does not.

>> No.9656292

>>9656149
Can You explain what chainlink does so a normie would understand?
Do you have an eta on mainet?
Can you wait 5 years?

>> No.9656295

>>9656149
I like that you've got massive balls but this is a terrible idea. First off, 20% is a terrible rate. You need to borrow at 10% or less. Second, you make way too little money. Your monthly payment will be $2000+.

Actually, why am I even responding? This is obvious retard bait.

>> No.9656301

>>9656253
wait you are saying 20% doesn't just mean i would pay 20% of the loan? how much would i have to pay in total then?

>> No.9656321

My suggestion would be to buy xcm with that money when the exchange is live. Double your money, pay back the loan, buy link with profits.

>> No.9656322

>>9656291
I’m joking anon, all the people here telling you not to do it just don’t want you getting rich
Remember everyone posts out of self interest
Take out the loan, take out more than $100k if you can.

>> No.9656336

>>9656295
i think you are missing the point. i know it would be very risky IF LINK does not moon soon. but my impression from the board is LINK will do very well. for the first year i would have to rely on putting almost all of my income towards paying back the loan. and if i was a little short i could try to pay with some credit cards that let me transfer balance for 12 months i believe. besides i don't see why this would be so much different than last few years in college when i made way less than now and still got by. so i would basically just have to continue living on very low college budget for a year until hopefully LINK moons. and if not then i am not sure what i would do but i think there are options like declaring bankruptcy.

>> No.9656348

>>9656275
I borrowed money from my parents because they had faith in me and I turned 4k into (currently) 25k for them earlier last year. I borrowed 20k interest free and even though my crypto gains are huge now I am still paying them back. On my wage that is taking longer than expected. Can’t imagine it with interest. At 20% hell no. You won’t have money in the future if you want to buy in in case of a dip and you won’t be throwing any more money into crypto until that huge loan is paid off. Sounds way to risky and I would rather be debt free and throw money into an investment every pay check with zero worry.

>> No.9656351

Better to just buy 100k worth of crack then unload it pay back the loan and keep the profits to put in Crypto

>> No.9656364

>>9656336
You have already made up your mind. Stop asking for a pat on the back and just fucking do it pussy

>> No.9656371

i would strongly advise against taking this loan. given your circumstances it appears the person lending has a problem rather than you if you cant repay because link will never do what you think

>> No.9656378

>>9656364
shut the fuck up shithead. i am leaning towards taking the risk but i am willing to reconsider if someone gives me good reasons not to.

>> No.9656389

>>9656275
No are you retarded link doesnt actually do anything its an internet meme with no dev team........ you will regret this for your entire life

>> No.9656398

>>9656149
for the love of god dont fucking do it if this is serious

>> No.9656408

>>9656378
You’re a fucking retard dude do you have any idea how high of an interest rate 20% is?

>> No.9656412

Clearly crypto isn't for you. 20% annual interest. $24,000 a year. You're looking at $2,000 minimum monthly payment at least, and that won't reduce the balance. At your salary, your post-tax earnings won't accommodate your plan.

>> No.9656414

>>9656389
can you elaborate on why it is a meme? from /biz/ i have learned it will solve the oracle problem which is crucial for blockchain to succeed. now i know sergey has a lot to deliver but i am confident in him from what i have seen on biz.

>> No.9656425

>>9656412
why not? this is my first year working full time but i was told i would actually GET BACK money from taxes instead of having to pay them since i make under $40k.

>> No.9656430

What a greedy faggot, you already have 100k link, I am coping with 28k link. Fuck you. Take out 100k and bury yourself in greed.

>> No.9656431
File: 559 KB, 2045x1093, 398059E7-E9FE-4583-84F0-71335A4847F1.jpg [View same] [iqdb] [saucenao] [google]
9656431

>>9656149
Don’t do that to yourself bro

>> No.9656436

>>9656430
no i have 10k LINK not 100k HUGE DIFFERENCE

>> No.9656439
File: 33 KB, 500x261, epictetus.jpg [View same] [iqdb] [saucenao] [google]
9656439

>>9656414
bro, legitimately. do it
you'll never work another day in your life once mainnet launches
you'd be stupid not to. I'm all in

>> No.9656443

In case you are serious did you actually visit a loan shark for this offer?

>> No.9656445

Do it and then live stream your suicide kek

>> No.9656450

>>9656414
I truly hope you're shit posting.
Seriously.
If you're retarded enough to actually consider taking out a loan to buy link, of all things, there's no helping you.
Holy shit I hope you're joking.

>> No.9656451

>>9656414
The Oracle problem can be easily solved with a platform update on either eth or btc (which will get smart contracts). Creating a whole new crypto just for that problem is pointless and expensive. It's completely unnecessary and the team has little real experience you can trust as a reliable point to rely on. Also with your wage and that interest rate you literally cannot afford it

>> No.9656470

>>9656451
I am tired and make bad sentences. But you are bad at math and will bankrupt yourself

>> No.9656472

>>9656336
Find out if you can use bankruptcy to get out from under the loan in case of emergency or Link failure. If chapter 11 is good enough, then figure out a way to hide your other assets (car, house if you have one) so that if/when you have to declare bankruptcy, they can't take those things to pay what you owe on the loan. If you can do the above, absolutely take the loan.

>> No.9656482

>>9656149
No you retarded faggot. Buy some factoring if you want a safe invesment with decent returns.

>> No.9656492
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9656492

>>9656149

Do it. But Why LINK and not REQ or iExec?

Think, Anon.

>> No.9656498

>>9656149
>mfw most of the toxic answers above are motivated by reverse-reverse psychology
just do it

>> No.9656499

>>9656206
Literally a ponzi scheme, your story fits word by word clasic ponzi schemes stories.

Jesus christ.

>> No.9656515

>>9656470
he sounds as if he is already bankrupt save for his 10k precious better he buys 100k shares in mcdonalds he will see more return than link

>> No.9656517

>>9656301
Holy fuck, does anyone in this board knows how money work. Does anyone here knows about finances.

>> No.9656523

Fucking put one third in BTC one third in ETH and one third LINK. You will make it and the loan will be repaid. Just make take some time.

>> No.9656551

>>9656336
If you're serious then look into getting the loan through sofi.com. They gave me a $100k personal loan at 7.45% for 7-year repayment. I'm not sure if they'll consider someone like you with such low income/assets but it's worth a try.

>> No.9656565

>>9656498
;) kek

>> No.9656573

>>9656149
retard, i think its larp. with 100k, you can diversify to 3 coins like EOS,LINK, HOLO(33k each). there is high chance that one of them do at least 3x. with that you can pay off loan., rest you can continue play. with going all in one coin is huge risk. yeah if it < 20k then one coin make sense. but with 100k go with 3 coins to diversify it and your odds are better. my two cents

>> No.9656589

I worked 3 years wagecucking and saved about $100k and I went all into chainlink at presale...feels comfy.

If i were you, I would consider doing it because Chainlink is a once in a generational opportunity.

>> No.9656616

You have a lot of balls, and so did I.

Let me tell you my story:

Borrowed $100K in 2014 from a bank and put half of that into bitcoin. A few months later, I got a notice from the company I worked for that I was terminated.

A few months after that, the woman I loved left me for cheating on her. Heartbroken, broke, and having to hide from the banks until crypto took off.

I literally lived humbly for a number of years and have only now seriously making good progress in life.

Sure, I have a shit ton of money, but sometimes I wonder if the pain of a few years was worth it. In the end, hell yeah it was because if I play it right I will never have to work a day of my life (assuming I budget my money at $100K or so a year as a self-payment to live off annually).

>> No.9656637

>>9656589
>If i were you, I would consider doing it because Chainlink is a once in a generational opportunity.

how? so much delusion. why only chainlink, each project in cmc top 150 is unique and potential shill me why only chainlink?

>> No.9656651

>>9656149
do it but have a backup plan if it fails. Like moving to another country and changing your identity

>> No.9656664

>>9656637
i have better things to do than shill a lazy fag who doesnt do any research

>> No.9656667

>>9656651
kek. who will let this larping retard.

>> No.9656678

>>9656664

nigga, I have 90k link already based on biz shills. but excited to add more. so want more assurance from shills to add more.

>> No.9656680

>>9656651
wtf why couldnt i just declare bankruptcy if shit hit the fan. plus to make it even better couldnt i declare bankruptcy and still keep my LINK?

>> No.9656690

>>9656149
If you are hellbent on doing this, please do not do it alone. I work for a company that specializes in OTC deals, money management, seed-round funding, and consultation services within the blockchain industry. We deal with private allocations in the hundreds of thousands to millions and have a network that can help. I am not asking for your money but we can present opportunities that'll fair much better than high-risk gambling (which is what you'll be doing otherwise). Contact me. fortheloveofbiz6969@gm_ail

>inb4 b&'d

In the short-term, do not buy Ethereum, for the love of God.

>> No.9656691

>>9656616
yup, im on the same boat. if we play this right. i wouldn't need to work anymore as well. I think within two years...we can have financial freedom

>> No.9656693

Just buy bitcoin

>> No.9656710

>>9656616

Bro, don't quit working yet but reinvest. Build passive income through investments and appreciating assets. You can easily still 4-5x your capital. Don't get lethargic now.

>> No.9656716

>>9656691
>yup, im on the same boat. if we play this right. i wouldn't need to work anymore as well. I think within two years...we can have financial freedom

idiot. you missing one point here. if link has that capability, even 20k link is enough to make it. if link shit , you cant even make it with 1 mill link. as simple as that. use your brain.

>> No.9656718

>>9656149
I really hope these posts are just a LARP. LINK is a borderline scam, and everyone saying to buy it is just trying to sell you their bags.

>> No.9656730

My gut feeling is Link will look hard then you might have an actual problem cashing it all out.

>> No.9656753

>>9656551
damn I only did a 3-year 40k loan from sofi, I figured if I did much higher they'd reject me. Don't even know why since my credit score was 830. Feel kind of shitty now.

>> No.9656768

>>9656149
when I went all into crypto mid last yr...people thought I was crazy and to not risk more than you can lose.

I was able to 10 - 15x my money and took out initial principle and look who is laughing now. the people who tells you what you should and shouldn't doesn't know as much as you if you did the research. don't let other people's fear cloud your judgement.

that might be sound advice in the traditional sense but I've done my research and crypto is still in its infantry stage with a lot of money still wanting to get in. market cap is minuscule.

chainlink is a safe bet and no way in hell would it still be 30 cents 1 - 2 years away from now. However, the upside is that it can still reach $100+ with mainstream smart contract adoption.

The worse outcome is you breakeven, but the upside is that you might not need to work again

>> No.9656778

>>9656185
Isn't that why you invested in chainlink tho...

>> No.9656781

>>9656716
sure :)

its my money and i can do whatever i want with it

>> No.9656783

>>9656637
Bottom line is, most of the top 100 projects can't see any meaningful real world adoption until they can handle data from legacy non-blockchain sources, and only chainlink has the potential at the moment to be able to deliver that off-chain data in a secure way that doesn't introduce a centralized point of failure into the system. It is (could be) the key that unlocks the potential of all blockchain/smart contract projects.

A lot of people have called data the new oil. Well think of chainlink as the oil refinery that will take data (oil) and turn it into something blockchains (industry) can actually finally use.

>> No.9656812

>>9656710
Oh trust, I haven't quit.

I own more than a million Link tokens. If this shit goes to $500 a token in a few years, I'm effectively a billionaire.

>> No.9656815

>>9656783
yup. that's the most logical next step for crypto. putting real world data onto the blockchain to fully utilize smart contracts in ways that will enable corporations to cut cost and increase efficiency

>> No.9656822

>>9656149
Even at a ridiculous 20%, and even if you had a good lie about what the loan was going to be used for, no legitimate lender would offer you $100k with your debt to income ratio.

>> No.9656882

>>9656783

Great point. It's also worth considering that in a few years we'll see an explosion of self-executing financial smart contracts operating under pre-defined rules and conditions.

Imagine the amount of money banks will save. Imagine the demand for the insurance industry. And then envision a future where trillions of dollars from the derivatives market is leveraging the power of self-executing smart contracts for payments.

Are we going to make it?

The better question is: How many generations can I ensure will be wealthy?

Do the research. This is the easiest time to become wealthy. But it will require one to do enough research to create the iron-will conviction to hodl and see the promise land given only to a few potentially in some years time.

The road won't be easy, but it will be worth it.

>> No.9656888

how are you able to get a 100k loan?

>> No.9656906

>>9656888
suckered his sugardaddy

>> No.9657076
File: 76 KB, 233x255, 1497652157755.png [View same] [iqdb] [saucenao] [google]
9657076

>putting your life in the hands of some overweight russian guy
if u knew sergey personally and he made you believe in him then maybe, MAYBE a loan would be worth considering,
but going into a huge debt because some memes on mongolian camel trading forum is not the smartest idea

>> No.9657121

>>9656425
That's not how taxes work...

>> No.9657189
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9657189

>>9656301
>wait you are saying 20% doesn't just mean i would pay 20% of the loan? how much would i have to pay in total then?
Anon, I....

>> No.9657217

>>9656301
Literally this just become a suicide watch lol.
You are gambling with your fucking life anons. Get some knowledge for your life before y ended up hanging yourselves up anons.

>> No.9657238

>>9656159
The universe works in mysterious way. According to the law of attraction, if you think it, live it, well shit, it is already yours.


Do you really want to go 120k into debt for something you kinda are iffy about? No, believe that shit, son. Theres no doubt in my mind that that 2 mill is yours. Congratulations.

Now the real question is, after uncle sam takes his cut, what should spend the rest of it on?

>> No.9657321
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9657321

don't do it. You might end of killing yourself if you lose your job and have to sell your chainlink to make payments. 20% is bi annual or yearly so you end up paying like 250k over the 20 years. Research how loans work. 20% interest is terrible btw. A mortgage should be around 5% for like 300k. Its high risk debt so you are forced to pay a higher interest rate. Or do it. Fuck it.

>> No.9657339
File: 184 KB, 220x163, tenor (2).gif [View same] [iqdb] [saucenao] [google]
9657339

>>9657321
>tfw your mortgage is currently 1.74%

>> No.9657468

In case this isn't a larp: don't do it, Link will never be adopted, smart contracts are useless, crypto is useless and it died 6 months ago

>> No.9657645

>>9656260
Fuck feeling suicidal, OP may even get gibbed by the “nice” loan shark

This may be the dumbest idea I’ve read on /biz/ for a while.

Only invest what you are willing to lose you tard

>> No.9657694

>>9656149
>i have the opportunity to take out a $100k loan with 20% interest.
No, you don't.

>> No.9657708

>>9656253
20% is how people end up owing more interest than principle. Hell, the mob only charges 10.

>> No.9657720

>>9656291
No, stupid, you'd owe 120k the first year. Then 20% of 120k the next year. And on and on.

But i don't believe this is real, and you're just some dumb high school kid larping cryptoneet daydreams.

>> No.9657727

>>9656301
Now I know you're larping. Even /biz isn't this stupid.

>> No.9657737

>>9656412
APR is calculated yearly, stupid, not monthly. "Annual" percentage rate. Jesus, /biz IS that fucking stupid.

>> No.9657751
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9657751

Don’t put it all in a single coin. That would be fucking insane. Put 30k into RobinHood and day trade. Put 50k into different coins. Hold on to the remaining 20k for crypto hour trading.

>> No.9657752

>>9656472
Chapter 11 is for corporations and businesses, idiot. Personal BK is Chapter 7 or 13.

I can't believe I have to explain extremely basic shit like this to people who think they're investors.

>> No.9657806
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9657806

>>9656149

> Currently has zero net worth
> pretty good shape

>> No.9657861

>>9656680

The type of people that loan at 20% APR do not care too much about bankruptcy protection, they are generally 'kidnap your dog' and 'set fire to your house' kinda guys.

Provided you aren't LARPing (and some of your retarded answers such as trying to pay off this debt with credit cards makes me think you are), you should do it. Your whole life would be mediocre if you don't, but if you do you can always tell the story about how both of your kneecaps were smashed in.

>> No.9657893

>>9656149
Pink name... I'd be scared.

>> No.9657907

>>9657806
you don't know what "net worth" means, do you?

>> No.9658025

>>9657907
Larpers don't care if their troll makes sense, they get (you)s regardless.

I could post that I'm the reincarnated Long John Silver with a chest of gold, and some sap here would tell me to buy Link, seriously. (And not get that Long John Silver is a fictional character). Pajeets seem to love telling people how to spend their money, and don't pay attention to silly things like details, or reality.

It's 4chan. What did you expect?

>> No.9658111

>>9657339
Nice. Mines at 5.3% I think. For 185k

>> No.9658204

Ironically I'm going to cash out of crypto at 100k

>> No.9658243

Idiot, never invest by taking up a loan

>> No.9658279

Do it op, then say you were scammed, declare bankruptcy and skip to Mongolia.

>> No.9658426

>>9658243
>What are businesses

>> No.9658625
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9658625

>>9656239