Incorrect. Apparently a lot of users intentionally chose to not pay it. The original study (link: https://lendedu.com/blog/bitcoin-and-credit-cards/) asked whether they did pay it off, not whether they could. See question #3 and #4. A crucial, but important difference that changes the interpretation of the study.
I get what you're saying, but the vast majority of people who have not paid their debts aren't doing so intentionally. Why choses to owe more in interest when they can afford to pay the debt?
I think in the absence of actual numbers, it's pretty irresponsible for you to assume that "a lot of users intentionally chose not to pay it", just because of the way the question was phrased.
Sure, there were some people who just decided damage their credit and owe thousands in interest because they couldn't be bothered to pay their outstanding debts, despite being able to afford doing so. I would not expect this group of people to be substantial - certainly not "a lot of users".
>Easy: they could expect to make more profits than the cost of interest.
This is all anecdotal now. You took a semantic argument and you're running entirely too far with it now.
>In the absence of actual numbers, the journalist is simply jumping to conclusions by assuming everyone is unable to pay the debt.
Which is a fair assumption.
If you zero cash, and $15k in debt, you will not be able to pay your debt.
If you have $10k in cash, and $15k in debt, you are insane not to pay off as much of that debt as you can with that $10k, because the interest will keep accruing every month.
People who fail to understand these concepts likely already have a terrible credit rating because they lack the common sense to avoid making bad decisions with debt.
In this case, if interest paid < yield. If someone wanted to give an SPV I controlled a loan tomorrow for a few million dollars to invest in crypto, at 20% a year, I would happily take it. But miracles sadly don't happen.
Incorrect. Apparently a lot of users intentionally chose to not pay it. The original study (link: https://lendedu.com/blog/bitcoin-and-credit-cards/) asked whether they did pay it off, not whether they could. See question #3 and #4. A crucial, but important difference that changes the interpretation of the study.