There's a lot of way to make vices seem less problematic.
Credit is the essence of fiat.
Take on risk if you like, but don't then be surprised when dipping your toe in the shark tank results in some sharks coming up for a nibble.
A collateralized loan with liquidation on the line is a conditional sale paired with a bet against it. May as well be a covered short in the money call spread where your long call strike is your liquidation price, except you're paying interest instead of collecting the premium from time value.
Literally trying to have your Bitcoin and spend it too.
