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Title: Trying to make sense of things here Post by: solareclipse64236 on November 03, 2012, 08:47:29 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.
It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. Title: Re: Trying to make sense of things here Post by: kokjo on November 03, 2012, 08:51:29 PM why?
i got a loan, only on my postcount... whats your problem? Title: Re: Trying to make sense of things here Post by: DeathAndTaxes on November 03, 2012, 08:55:50 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made. It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. Most of the loans offered or accepted here are usarous (http://en.wikipedia.org/wiki/Usury). You can't have a legally binding illegal contract. ;) Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract. Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with. The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually). Almost all banks in the US are federally chartered and thus immune to state limits on Usury. With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't. Title: Re: Trying to make sense of things here Post by: Vod on November 03, 2012, 09:02:13 PM why? i got a loan, only on my postcount... whats your problem? Most of his posts sound something like this. :D I'll do whatever I want retard What kind of lame ass paraplegic moronic fucktard couldn't handle excessive thread posts or private messages? Probably a gay hooker named Laredo Title: Re: Trying to make sense of things here Post by: BurtW on November 03, 2012, 09:37:59 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made. Maybe I can try to help you make some sense of this:It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. 1) I lend based on only one criteria really, whether I think the person will pay me back. Now I have a lot of things that go into that decision for example post count, quality of posts, etc. 2) Having a person's info means next to nothing if they do not pay you back. I live in Colorado. I lent 15 BTC to some asshole named bcjunkie. Here is his profile: https://bitcointalk.org/index.php?action=profile;u=54204 (https://bitcointalk.org/index.php?action=profile;u=54204) I have his address (Kentucky), a copy of his drivers license, etc. I even have his picture. I will give it to you and you can have whatever you collect. Deal? You will find that is is almost impossible to collect a debt in another state and not worth doing if it is a small amount like 15 BTC. Title: Re: Trying to make sense of things here Post by: solareclipse64236 on November 03, 2012, 09:58:50 PM if that's your only criteria then i agree you won't be able to take it to small claims court
also, if this is a place where people can't swear in, then it won't be around for long troll Title: Re: Trying to make sense of things here Post by: solareclipse64236 on November 03, 2012, 10:01:47 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made. It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. Most of the loans offered or accepted here are usarous (http://en.wikipedia.org/wiki/Usury). You can't have a legally binding illegal contract. ;) Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract. Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with. The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually). Almost all banks in the US are federally chartered and thus immune to state limits on Usury. With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't. most of the rates stated here are cheap, not usarous most credit cards charge 19 to 28.8 percent per annum my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top Title: Re: Trying to make sense of things here Post by: Vod on November 03, 2012, 10:32:31 PM if that's your only criteria then i agree you won't be able to take it to small claims court also, if this is a place where people can't swear in, then it won't be around for long troll Oh, people can swear, but I wouldn't lend anything to someone so immature. Title: Re: Trying to make sense of things here Post by: MPOE-PR on November 04, 2012, 12:21:22 PM It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. To do what with? Burn in effigy? Title: Re: Trying to make sense of things here Post by: Tittiez on November 04, 2012, 05:44:58 PM Why? I've gotten loans from multiple people (BurtW, abbeytim, eroxors) without any identifying information. I've paid them all back early or on time.
The only person who wouldn't loan to me without identity was senbonzakura, but to give him credit it was smart to ask first because if I recall I only just became a Full Member and I had little reputation. Title: Re: Trying to make sense of things here Post by: DeathAndTaxes on November 04, 2012, 06:38:55 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made. It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. Most of the loans offered or accepted here are usarous (http://en.wikipedia.org/wiki/Usury). You can't have a legally binding illegal contract. ;) Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract. Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with. The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually). Almost all banks in the US are federally chartered and thus immune to state limits on Usury. With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't. most of the rates stated here are cheap, not usarous most credit cards charge 19 to 28.8 percent per annum my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top Your own rate just contradicted your claim that most loans here are "cheap". 40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR. Had you decided to not repay the loan there is no legal collection you could persue. Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. TL/DR. Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract. An illegal contract isn't worth a whole lot. Title: Re: Trying to make sense of things here Post by: solareclipse64236 on November 04, 2012, 09:05:41 PM if that's your only criteria then i agree you won't be able to take it to small claims court also, if this is a place where people can't swear in, then it won't be around for long troll Oh, people can swear, but I wouldn't lend anything to someone so immature. then shut the fuck up and keep your money then troll Title: Re: Trying to make sense of things here Post by: solareclipse64236 on November 04, 2012, 09:07:35 PM It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. To do what with? Burn in effigy? LAUGH MY FUCKING ASS OFF If people can't be taken to court, or I can't harass people by having their credit ratings lowered then this is all moot Title: Re: Trying to make sense of things here Post by: solareclipse64236 on November 04, 2012, 09:09:44 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made. It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. Most of the loans offered or accepted here are usarous (http://en.wikipedia.org/wiki/Usury). You can't have a legally binding illegal contract. ;) Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract. Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with. The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually). Almost all banks in the US are federally chartered and thus immune to state limits on Usury. With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't. most of the rates stated here are cheap, not usarous most credit cards charge 19 to 28.8 percent per annum my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top Your own rate just contradicted your claim that most loans here are "cheap". 40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR. Had you decided to not repay the loan there is no legal collection you could persue. Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. TL/DR. Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract. An illegal contract isn't worth a whole lot. lol you should have first stated which country you're from i'm certainly not american so i thought you meant usarous as excessive Title: Re: Trying to make sense of things here Post by: btcANGEL on November 04, 2012, 10:15:02 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made. It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. Most of the loans offered or accepted here are usarous (http://en.wikipedia.org/wiki/Usury). You can't have a legally binding illegal contract. ;) Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract. Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with. The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually). Almost all banks in the US are federally chartered and thus immune to state limits on Usury. With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't. most of the rates stated here are cheap, not usarous most credit cards charge 19 to 28.8 percent per annum my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top Your own rate just contradicted your claim that most loans here are "cheap". 40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR. Had you decided to not repay the loan there is no legal collection you could persue. Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. TL/DR. Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract. An illegal contract isn't worth a whole lot. lol you should have first stated which country you're from i'm certainly not american so i thought you meant usarous as excessive You certainly type like a graduate of the American public educational system. Title: Re: Trying to make sense of things here Post by: BCB on November 04, 2012, 10:24:09 PM Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made. Maybe I can try to help you make some sense of this:It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. 1) I lend based on only one criteria really, whether I think the person will pay me back. Now I have a lot of things that go into that decision for example post count, quality of posts, etc. 2) Having a person's info means next to nothing if they do not pay you back. I live in Colorado. I lent 15 BTC to some asshole named bcjunkie. Here is his profile: https://bitcointalk.org/index.php?action=profile;u=54204 (https://bitcointalk.org/index.php?action=profile;u=54204) I have his address (Kentucky), a copy of his drivers license, etc. I even have his picture. I will give it to you and you can have whatever you collect. Deal? You will find that is is almost impossible to collect a debt in another state and not worth doing if it is a small amount like 15 BTC. Not true. Send me the info. Thanks Title: Re: Trying to make sense of things here Post by: BurtW on November 04, 2012, 11:06:41 PM BurtW I will dig up the info and send it to you and you can have at it.Not true. Send me the info. Thanks Title: Re: Trying to make sense of things here Post by: BlackHeartFund on November 05, 2012, 09:08:50 AM Quote from: btcANGEL You certainly type like a graduate of the American public educational system. Thanks for making me laugh while reading a sad thread. Title: Re: Trying to make sense of things here Post by: MPOE-PR on November 07, 2012, 11:11:02 AM It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral. To do what with? Burn in effigy? LAUGH MY FUCKING ASS OFF If people can't be taken to court, or I can't harass people by having their credit ratings lowered then this is all moot See here (http://polimedia.us/trilema/2012/gpg-contracts/). |