The number of stories i'm reading on this subreddit about people purchasing large amounts of bitcoin on credit cards, or taking out personal loans to buy bitcoin, or taking out equity in their homes to purchase bitcoin is really starting to scare me.This is speculation.Bitcoin arose out of the Mortgage Backed Security/Collateralized Debt Obligation/Housing Market Crash crisis back in 2008. If you still do not understand what happened back then, please educate yourself.What were people doing? They were taking out risky loans to buy houses in hopes of housing prices would increase and they'd be able to sell for a greater amount. They were taking out equity in their homes to purchase other homes in hopes that they be able to sell for a greater amount.Does any of this sound familiar?I will probably again be told to GTFO and stop FUDing as people read my other skeptical posts. But I am, in fact, a bitcoin believer, but I'm also a realist, and a great amount of speculation is occurring and we will have a correction (idk when I can't predict that), you can't go parabolic forever.TLDR: History repeats itself, if you take out a loan to buy bitcoin please know that what you are doing is speculating, and understand the historical risks involved with speculating.Edit: So people are aware. I am not stating that bitcoin will go down now or in the near future. The point I'm trying to bring up is the fact that bitcoin was created out a crisis where mass amounts of speculation occurred (it occurred on both the individual level and bank level) . And I find it ironic/scary that people are now doing the same thing with bitcoin. But hey people will make large amounts of money doing this until they don't.Do you believe in bitcoin or do you believe the price of bitcoin will go up? How many people will still be believers if we go down 30%? via /r/Bitcoin http://bit.ly/2hA8QEm
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