Bitcoin Forum

I forgot I had some coins put away in a bitcoin lending site to try P2P lending. This is what I see when I logged in to see my "investments"

Four pages of red glory. I stopped clicking after page 4. Brilliant.

https://i.imgur.com/VnfiSZZ.png

https://i.imgur.com/w6aF1mH.png

https://i.imgur.com/oqF21j9.png

https://i.imgur.com/O7c5oDC.png

P2P isn't always the best thing , unless there is a very good designed reputation system , things could go wrong. As far as I know , lending websites have a system to ask users for Residence,ID,passport etc... so you should be able to take actions against them unless there is something that prevents you from doing it. (from the ToS or something)

Yeah it is true, all websites that provided systems or facilities such as p2p is not good enough to follow because there must have been some people who utilize it. In cyberspace everyone can wear any mask without being noticed, so better to borrow the btc to those who are already clear

you can hate me for saying it, but giving a stranger money because he promises to give me back more does not sound like a good idea to me. just a name and even an id should not be enough as a security.

I can't believe people were mindless enough to enable it to get off the ground in the first place. By its very nature it's going to attract morons, scammers and dreamers. I'd love to see the stats from some of these places. They're almost guaranteed to be dire.

I would never use this p2p lending, so many scammers there, if they don't give real collaterals, i can't trust them online. Bitcoin world is a wild west

Very true. People who are credit-worthy enough to begin with will borrow in fiat; Bitcoin attracts what is left over, and results in a slew of defaults. I invested a reasonably small portion a while ago (with max. about 2-3%/loan diversification level), but quickly decided it was a lost cause. Rates aren't high enough. If their clientele has default rates akin to pay-day-lenders, then the rates should be just as high. Once the sort of people who are credit-worthy adopt Bitcoin, the business model might be viable.

A better investment in Bitcoin is in casino bankrolls, or to go your own way  ;D

I just feel like bitcoin loans are not safe right now, not even here, using escrow and a collateral seems like a safe idea but it's not 100% safe, the escrow could get hacked or just scam himself, things like this have happened before so Im not just making this up, we really need a better system for normal people

They'll never be safe. And the way Bitcoin itself works and the way it's valuation works means there's no way it's ever going to be viable. Even if all parties are honest, if there's a violent price move in either direction then someone's going to get ravaged.

People should stop attempting to apply concepts that do work with fiat but just don't compute with Bitcoin.

Same story here. BitLendingClub was okay way back then, my default rate was acceptable. Then suddenly came the wave of "reputable" defaulters, those that are fully verified and with good credit rating, they were supposedly the trusted set of individuals, and for whatever reason, the majority defaulted on their loans. That was the last time I invested in p2p lending.

I have to agree with you on this one, i opened up an account with BTCJAm and i have to say i think in my first year i am set to make a 30% loss.  what a load of crap.  People just cant be trusted and if they can see away to steal they usually will.  its human nature.  a reputation system my work if it is the nearest and dearest of friends and family who are finding out about the bad debt.  This is the whole reason why we need trust less systems on the internet.

A loan is useful if it happens within the same country and backed by contractual laws of that country. The defaulter is liable for civil court actions in that case. But that alone defeats the purpose of decentralization. Lessons learnt: Don't use P2P loaning sites - as many pointed out, Bitcoin is wild wild west.

even within the same country i do not expect this to work. or would you go to court to fight for $100? there are cost involved that are higher than the sum you want to fight for. so most will just let go.

I see any loans funded are below $1, will anyone try to take action against the borrower for such small amount. You have to spend more than what you may get from the borrower if you take legal action. I think that is the reason why most borrowers prefer p2p lending services. only a few would lend higher amount, that too has potential risk since we could get only his personal details (not any collateral) to recover the funding.

the issue is simple
the cost of recovering a loss far exceeds the loss itself, and scammers know this.

if you cannot physically slap someone with a wet fish. dont hand them your money
if you affordably slap someone with a wet fish. dont hand them your money

I "invested" $0.02 in btc in a guy using btcjam.Never got my cents back. ;D

There is no good collateral to cover the p2p loans and to lower the risk of the guy runing away with the

money.

Yeah, you are right. The volatility of bitcoin is an issue not only for loans but anything related to bitcoins and I feel that 99.9% of the loans here are really just scammers or people who want to gamble with them, I mean when was the last time someone legitimately needed 100 bitcoins for a legitimate project and got it?

P2P can be harsh, like here, you need REALLY GOOD reputation system close to perfect one to this have any chance to succeed

I hope by posting my experience here would allow more people to understand the downsides of P2P lending.

Im sorry to say but in the general just scammers are present at p2p lending since the begining, as op i had lost some coins, but i were able to roi and left those insane projects, how can you lend and trust into someone that says has a big salarie and wanna make a mining farm, or any other project, sure the honest people still there and around, but being part of such website its the same as being a donator, as the risks of you loose your bitcoins are 99%.

the only way it would work is that the lending site itself took responsibility, and chased after scammers
since you hand over bitcoin to the lending site. you are not investing bitcoins on the scammer.. you are investing an SQL balance within the site with the scammer.
it is the lending site that "owns" the coins it receives and "gives" the coins to the scammer
it is the lending site that "owns" the documents and ID it is handed by the scammer.
it is the lending site that "owns" the coins it receives back (not often) and "gives" the coins to the user when they ask to turn their onsite credit into real bitcoin

the user does not get to see the passport or other documents of the scammer, so the users should not be taking the responsibility of loss. the lending site should

when a lending site just works as a chat room and then the users then privately tell each other their passport details and proof of residence. then the lending site can absolve itself of responsibility.

but when the lending site takes a users money, does the vetting of the scammer, promotes the scammer as credible and hands the money to the scammer
then the lending site should be involved with chasing the scammer. especially if there is no way for the first user to know the scammers life story.

but we know lending sites wont do this. so its best to just stay away from lending sites.

If lenders have a good credit history, there should be no reason why he cannot get loans or credit from his local banks. But each country's banking system works differently. Perhaps it is very difficult for some to get credit from banks.



But you are right in the sense since lending sites took their commission, they should be partially responsible to bad loans. So the system will work if the lending site has offices in the countries they operate to thoroughly vet the lenders but again that defeats the purpose of decentralisation.

I think most of us who've been here a while understand completely.  When you get green-trusted legendary users scamming for $50, you kinda sorta get the impression that borrowers of bitcoin are scumbags as a rule.  Not all of them, but enough to absolutely require collateral for even the smallest loan.  The results here don't surprise me in the least.

But that's not an easy for taking action against them if happening a problem with them caused by the different country will making for doing that is just like an impossible things, and more money will exit from my pouch and that's very bad for me.

The only way it would work for me is if someone sent me 100 BTC at the same time as I handed over 100 BTC. Have I just come up with an exciting new business concept? I'll get back to you on that after a feasibility study.

To side track a little - I've seen new comers requesting for very small loans in the Lending section - we are talking about 0.00x BTC amounts here. Makes me wonder what inspired these new comers to go through all these efforts knowing they can't get anything out of this.

I don't understand the lending section here and never will. It seems to purely be 0 post zombies asking for a 'loan' followed by three pages of senior members sneering at them. I suppose the senior sneerers would miss it if it was gone.

Old timers here are having fun sneering at scammers. Scammers will keep trying and ply their social engineering trade here, especially with sob sob stories.

It is thanks to these scammers we have a very cynical community in here.

it is not dead and never will be dead. any lending system whether it is in bitcoin or fiat is based on trust and unless that trust is provided no one can trust anyone!

what you did is like a bank instead of asking for collateral (e.g. taking your house) sets up an open box filled with cash that anybody can come put his hand in and take some.

Lending business should not die, as it will have more potentials to contribute to the development of bitcoin related businesses. I have seen bank system have made miracles in rural development in many countries, similarly we could expect bitcoin lending will take bitcoin to many new people.

Properly managing this business must be more important so that both the lender and borrower will get the true benefits of lending. More options for valid collateral would help this business to grow, I believe.

Yes, valid point. Without collateral there won't be any lending business. But, practically we must have many different types of collateral to be submitted for a loan. Innovating more options for having different types of collateral, definitely would help both the parties.

I also dont believe in p2p bitcoin lending because i dont think its possible for you or that site to recover the amount that some one scammed.
Suppose some one taken 0.5btc loan and scammed then there is nothing you can do to person living in another country,even if you want to take him to court that would even cost it more that you lend him and no guarantee weather he still pays or not.

There are a lot of scammers nowadays. Have you try the Lending section on Poloniex? I made some of my btc put on lending there, thought the interest is quite low (you are the one,who will set your lending interest rates) so far its OK.

Ok thank you for your share about the experience, where do you made investment in lending business? Usualy the people using loanbase or btcjam and it went fine, i think you have to show the details about the website.

It is loanbase. There have predefined investment settings. I chose the medium risk settings.

Now its resumed its old name bitlendingclub

It may be as bad as btcjam

In real life lending business, they could pledge gold or real estate properties. But, with digital format we might have only very less options for various reasons but within being anonymous. Established altcoin coins are being considered as valid collateral by many lenders in this forum, still I too agree we need to innovate more options for collateral.

If lenders used Alt coins such as LTC as collateral, I did wonder to myself why not they sell these LTC for Bitcoins? Why go through the hassle of lending and have to return more? Sometimes, there are issues in the crypto world that I cannot figure it out.

I've asked this question a few times and failed to receive a satisfactory answer. It's best to leave them to it. They all must have a mysterious agenda we're not being informed of.

Let's leave this question open to the wiser members in this forum. What is the most legitimate answer you've received so far?

Um, there wasn't one. Someone mumbled something about not having to sell their alts or something as we all know what a strain it is doing 3-5 clicks. I gave up and continued with my life.

it has something to do with not wanting to lose that "thing" you are putting up as collateral mostly because of the changes in the price.

it doesn't matter what it is. but for example in case of litecoin or any other litecoin imagine you have made an investment in litecoin and want to hold it for a long term because you have speculated a big rise so you wouldn't want to lose this opportunity by selling soon. because if you sell the price can go up and you get left behind.

also another scenario is when you want to buy more litecoin so you put some as collateral, take a loan and buy more with bitcoin you get.

Fair enough but it doesn't add up to me. Why take an alt which is just as likely to plunge as to soar? And Litecoin seems to be the Coin That Never Budges so I don't really get why anyone would want to inconvenience themselves to speculate on something even more sluggish than Bitcoin.

Maintaining our anonymous is the biggest difference between P2P lending and other lending business. We should not let this business to die as there are lot of growth potential for bitcoin ecosystem based on lending in upcoming days is highly possible.

I don't think that P2P lending is dead. In fact it's very much alive, considering that even the most simple-minded scammers are successful in securing funding... ;D There must be an army of even greater fools that keep the market alive. Just looking over the beginnings of the descriptions of lending purposes in the tables posted tells me that these loan request are pretty generic scam attempts (for example "trading strategies").

In my opinion, Bitcoin lending is simply extremely risky and for most cases the risk/reward-ratio is not favorable. But I would not say that lending can't make sense for selected cases. The key is not to use investment sites, but to select lenders manually and always demand collateral that is easy to liquidate and covers the borrowed amount by at least 150%. Simple rule: Without collateral (it can be altcoin, precious metals, or for very small amounts even a forum account) no loan.

Personally I don't consider it worth trying, because the selection effort is high.

ya.ya.yo!

I am not so sure about this!
P2P lending is either based upon mutual trust or collateral and the fact that P2P lending using bitcoin bring about a certain amount of anonymity makes the "mutual trust" part hard. so there will always be one part of this unsatisfied and not being able to trust fully the other party.

I support the lending aspect within one's own country or within state, or interstate lending. But to lend across country lines is a huge no no. If someone defaults in my country, I know who I can consult to go after the defaulter (if the sum is huge).

But if I were to lend 2 BTC to someone in Antigua and Barbuda and if he were to default, what should I do? Or, what could I do?

Most people do not pay back a loan because they want to. They pay back because of the consequences if they do not pay it back.
As long as you are not going to hunt them down for 0.009 Bitcoin, they do not pay.

sad... the only place i still lend some btc is poloniex. P2P never... if someone doesnt pay you, there's almost nothing you can do, so generally they will not pay.

You should not lend even to your neighbour/colleague without any proper collateral. Then, why you are going for Antigua and Barbuda. Rules must be same in all situations.
Lend with proper collateral and stay safe with your lending business.

yes. But P2P lending sites do not require collateral from borrowers.


You are right. So the trick scammers do is to take microloans from many people. No one is going to fight back 0.01 BTCs. If they were to get 0.01 BTCs from 20 people...

I've never really looked into P2P lending since it has always looked kinda sketchy and easy to abuse.
Only site I've heard of is BTCJam, and I thought there were at least some success stories there.

But this looks pretty bad indeed...

Some people don't want to sell altcoins because they think they'll shoot to the moon.  But apparently no one who borrows here even has any, because altcoins so infrequently get offered up as collateral.   Most of the requests are pure scammage.

If you know of any successful stories (from lenders' perspective) on P2P lending, please share.

I am sure there are many successful stories of borrowers-turned-scammers ....

And then everone continues to mock the banking system that requires legal documentation and non anonymity practices to provide rates less than half of these rates. Yeah, banks are terrible!

P2P lending isn't secure enough, and its risky for lenders too, there is a possibility you don't get your money back and then you lose simply, that's why its not used a lot by Bitcoin's community

P2P is never an answer. Even with advanced reputation system it can be exploited. I see all the time that someone is trying to sell his old Localbitcoins account.
What will stop people with cheating the system in the same way every time? Bitcoin lending without valid collateral and escrow is risky business.

And that's why the main reason making the p2p lending service dies. a lot of abusers is tried for cheating it, and so risky. people will realize about that. and not needing an advice for leaving the service and will died for slowly.

I do not know what kind of security and identity checks and verification the site has but would it be a better idea to let the lender handle these things himself? All the site has to do is to make the guidelines on how and what kind of ID the lender should ask for from the borrower, what kind of collateral in case of non-payment and all that stuff. Recording all the transactions made will also be the site's responsibility. Other than that everything should be between the lender and the borrower. If someone wanted to borrow Bitcoins from me I should have the right to ask some ID and all other information from the borrower directly.

If you trust the site to do everything for you and let anybody borrow Bitcoins from you then that is just plain stupid.

well, litecoin that i said in my comment was just an example.
and the reason for it is just a speculation/trading reason and nothing else. it can be litecoin it can be ETH, XMR, Dash, Doge, or any of the other altcoins.

besides, there are a lot of different things that people do that never makes any sense :D
for example those newbie accounts who try to scam a loan of small size like less than 10 cents!!

well this is why the P2P lending site is turned to red, as for me i would never giving somone even for penies without collaterral. I just don't get it why they adopted this system, we don't even know the id that they provide is real or just photoshoped,since it's easy to manipulate the id.

Well that was the essence of p2p lending anyways, it's supposedly a lending network built on trust and reputation. At least that's what it should be.

we are not living in a perfect world so trust (full trust) is never achieved anywhere. and any system that works only on trust will fail miserably as we can now see how many people are scam and getting scammed on these lending platforms like btcjam and many others.
this is one of the reasons why the lending board here doesn't let anybody ask for a loan without providing a valid collateral.

There was a survey years ago that pointed how citizens from scandivanian countries have the highest level of integrity.

But with globalisation and ease of borders -- trust is not something that is bankable any longer.

Of course P2P without collateral is useless and only proves that it's not working overtime, Plenty of people in this forum tried it before and it didn't work, Currently you always need to put a collateral which is acceptable when you consider even banks do so "and it takes a large part on the meaning of a loan".

If there is a way to do a consumer level of "credit charge hold" on borrower's credit card similar to what hotels are doing, until the loan is returned, that will be good.

But no one really needs a Bitcoin loan. They're only trying to scam. If I want to buy something the last thing I'll get a loan for is Bitcoin.

This must be the coldest hardest truth I've ever heard since I dabbled with Bitcoins. Nice one bro. Seriously, this is the quote of the decade for the Bitcoin world.

No that isnt true some people really needs the loans and they offer usually a 15 days repayment, that should end after the time they will get paid from real work. The problem at bitcoin lending is the same as banks they take the risk and charge a high interest to cover those people which wont return the loan.

I would only ever lend money to a person if i knew then personally, and only after i know for sure that they would be able to pay me back. why would i risk losing money to help fund a loan when the interest rate is so insignificant.

In my opinion P2P lending has always been dead, people simply end up using their loan on either something they know is incredibly risky and not worth taking the chance on with their own money, or they ask to get funded and then dip out and forget about paying it back ever again, happy with their payout.

P2P lending was a good concept, but with nothing to enforce it, it is useless.

This is true, that is why setting up some sort of system for verification to be done also peer to peer and for the borrower to have some sort of collateral to offer for the loan is a must. Surely the collateral has to be a digital product but the problem is what? Peer to peer lending could have a bright future especially with the advent of cryptocurrencies. If someone smart can solve the small fusses and problems it is actually a good idea.

P2P services are broken with humans. We are naturally greedy, and will without hesitation try to take advantage of others for their own benefit. Lending, all the more.

Thank you for the informations, it is help. I must wait and see before using loanbase for make sure it is not bad as btcjam.

When I was new to bitcoin, I created an account with btcjam. After some research, I found out that most of these lending sites turn out to be scams sooner or later. I kind of feel sorry for those who were duped once for trying this lending, but for those who have been scammed several, it's a shame that they don't learn from past mistakes.

Sorry but I don't see it working without transfer of money being met with an opposite transfer of risk. Be it collateral, reputation, what not.

At the least there should be some sort of law binding contractual agreement.

Actually there is no point in trusting borrower only looking at the social media accounts and other idendity they have uploaded in lending platform. It needs somekind of collateral in between which is not required in most of the P2P lending platform so people with some common sense never gonna trust system.

No P2P lending isn’t dead but most of the times it doesn’t work, especially when reputation system is poor. Some bitcoin lending sites just help lenders to identify the real identity of loan defaulters and they don’t take any steps to recover defaulted amount. I think a serious infrastructure which helps lenders to recover defaulted amount can bring that missing factor which could help others to see p2p lending seriously, otherwise it’s not going to work. I am optimistic and I believe we will have something like this in near future.

Even initially I had a good feeling about p2p lending and invested some money in to this btcjam and btcpop website. But then I started seeing that people are here to scam other people only. Hence I stopped and withdrew whatever I have in my kitty.

Still around 0.28 BTC is floating in the market and I have no hope of receiving that amount. Even though it is not a big amount but the trust factor is not there anymore. Even I have stopped investing in to p2p lending.

Not surprised. This is why I don't lend to people I don't know who have no accountability and you never see their actual face. I don't know why there is any point in loaning to these people, since most can easily run off with the money anyways. Notably thousands of dollars.

Some times it is best to assume something that seems too good to be true really is.

Why you are not having hope of recovering your floating investments of lending. Are you not having equivalent collateral in your possesion so that it could cover your loans ?

Lending without the proper collateral is the always dangerous, instead of going for lending without collateral you could simply giveaway them as freebie. I'm sorry for your losses.

Lending is not useful at all without sufficient collateral IMO, you wouldn't get anything with lending if you don't keep something to stimulate the one taking the loan to payback and that's the issue of btcjam, having the documents of those taking loans are not useful most of the time too...

Please don't risk your coins. Do you know anyone who has profited from P2P lendings? In fact,the risk is much lower if you park your coins with Poloniex margin lending.

No one is using BTCJam seriously anymore, The P2P lending could work but would require the same difficulties needed for bank loans "i.e collateral", No collateral loans are not working anymore and that's because of scammers and the like.

P2P lending lowers the bar for lenders without good credit and possibly attracting those who may have dubious characters. There are legit reasons for P2P lending such as small business loans (since the bar for commercial loans are pretty high)

I agree that the concept itself is not inherently bad and that it could work, but there need to be more options to fight against defaults.
In cooperation with the site itself, I would say.

It's actually pretty sad that it doesn't work, because I could really see it being useful for people who don't have malicious intent that can't get a loan from a bank.

These sites that offer p2p lending are usually going to attract people that you would have stayed clear of otherwise but the site has given them enough credentials to make it look worthwhile. The reality is that very few can profit because it takes a certain kind of person to be able read through b.s and see the warning signs. Here we have the backup of selling the members account which usually ends you up in the plus if you do it right.
There is a reason banks do not get involved in small loans and leave it to cheque cashing shops. The default rates are high and the banks would be tied up in this small aspect and it would be to labour intensive for them to waste time on. If you are not juicing the person hard on interest and a collateral that will pay off the loan,its not worth the time.

With every business in bitcoin we have a bunch of people that think they can copy the mold and make a profit.
Take a look at all the default poker sites as a example of people thinking its as easy as bing bang boom!

I read many positive reviews on Bitbond. One posting made an impression on me - it was said that always lend to seasoned eBay sellers who have extremely high positive reviews and run a successful eBay shop.

Reading this is actually terrifying.

How are they able to get away with it having provided personal details? Are these sites not even bothering to go after those who scam?

I doubt so. What can the site gain from this? Nothing. You are on your own.

Is there nothing in their ToS that implies some type of legal action against customers that refuse to pay back what they owe?

I mean, if they've handed over personal information, it's crazy how they can get away with it still.

What's this website?
So do you lend without colateral? Sounds like a great idea.

Bitcoin community is big af, a lot of scammers over there, they don't give a fuck about it.

You are def right, i gave up on the whole btc lending thing about a year ago, i doubt it will ever work due to the nature of bitcoin.  its a shame cause people want their bitcoin to work for them rather than sit in cold storage, but it just cant be trusted

I remember BTCJam was big back then, im not sure if the site even exists anymore since im too lazy to even look it up and I honestly don't care since im never going to use it. It's just not serious that people can literally steal your money and get away with it without no consequences.

The thing is, you never know for sure until you have tried something. OP was a guinea pig for the rest of us, and we are all very grateful!

I had considered getting into the lending business when I started with bitcoins but it just didn't seem to be a viable business model. I think your four pages of red prove that. That's, what, a 90%+ default rate?! Why bother. Collateral loans on this forum make sense but nothing unsecured over the internet. People have no reason to pay it back! You can't hunt them down for $50.00

Those p2p bitcoin projects had helped a few people to realize their projects as well improve them, but in the general if we push the stats the only thing that really happened were donations with a interest that wont be repaid at all.

What the hell is that, i can't understand what your mean. are missing with the op means... you may correcting your answer dude... seems like just a spam....

I am glad to contribute to this community. :D If you like my "efforts", you can consider tipping me: 33kgTJfNomeG2wpTGko1MQ7YLGSw7Ay6eF

Hahaha :)

Nobody takes loans without collateral seriously anymore, the risk is just too great even with a market being present but people not ready to repay is just too much of the total people taking loans, You can't do anything with there documents anyway if you can't sue them..

don't forget that a collateral must also be "valid" because i have seen that some people just went for the collateral just for the name of it and they receive a worthless thing in return and they can never sell it and the guy defaults the loan too.

Yes you are right. The collection of documents is useless and pointless. Don't know what these loan sites are thinking.

COLLATERAL!!

You cannot enforce international bitcoin loans. That is why you must take collateral for it. If you are stupid enough to give your money away to international strangers without any guarantee, then you deserve to lose them.

Online p2p worldwide loans are very risky business and especially if you are using bitcoin where privacy is protected highly. If you would make online loans in your local country than it will be very good idea and it will help bitcoin to be more known.
I never invest in bitcoin p2p lending websites because I can't trust person which I don't know and I don't have any chance to get money from him/her, so this is the reason why bitcoin p2p lending is dead.

In the past i believe those which joined and use bitcoin were all honest people with money invested into bitcoin, or time invested, but well i doubt someone will burn 50 dollars for funny, i didnt see any ponzis related to bitcoin in that moment, but i knew as the people were able to cashout the repayment could be done or not, soo i tryed and im happy that i had roi and lost a lot coins into those system, btcjam its a nightmare, and those project shouldnt be running that way.

On top all that, it's not too hard to fake a lot of the required documents. Collateral or nothing.

Lending? Sorry however this looks more like a giveaway

None lend without colateral... You knew the riskys OP

If you want to be successful in this lending business then it is simple you should accept the collateral which you can liquidate easily and don't ever accept the collateral which you feel have a difficult to sell off if a borrower doesn't return your money. Don't believe in any document verification process and lend money because it is your money so you should own the collateral, not by some third party.

Of course if you are lending there should be escrow and collateral for which if the loan is defaulted or not pay back at all you can be sure you have something worth more that the loan you have given out. That will make everything very simple for you and prevent financial loses. Every business must be done in its own smart way for sure-shot profit making !

That's why the collateral has been created. It enables trustless P2P lending, since if you don't get reimbursed, that's not a problem.

Of course, lending without collateral is like you are just giving away the money beacuse not everybody is trustworthy and even the trustworthy ones may have some difficult in repaying back due to his typical circumstances, should that happen the only option for you to get back what you have offered is to sell off the collateral.
Hence, without colateral is like you are a father Christmas.

You just threw your coins away dude.

I was shocked  when  i saw  the  first  4 pages. lol. You cant really afford  to continue  even  more on those  more pages left because for sure   its  still red.  Sameas  others  said here,  thats  not a loan  its  a giveaway and  those amounts   when  you  pile  it up it would sure be some  bitcoin. YOu shousl  really ask  for  collateral  because  giving  loan  to  everyone without  collateral would  be really risky because  anytime they  could  not   able to repay those  loan which is a total loss  for you.

I see donations here :P  Showing  pile of RED really hurts  too much because  those  mean is a  money  lost.  Loaning  business  or  investment  is  really risky especially if you don't  ask  for collateral  because  anyone could  ran   and  don't   intend to  pay their  debts since they  don't risk anything from  you.  TO be  safe and  lessen the risk always ask  for collateral  because  if  they  will ran atleast  you  hold  somethings  exchange for their  loans.

This is so true, never understimate others they would definitely do to scam
people. For me Ill never use this P2p lending, I suggest before careful in
anything that you have plan with your money.

You gave away pretty much untraceable cash to strangers over the internet, and you're surprised no one paid you back?

P2P lending is great system but like many other good things it sometimes get abused. That doesn't mean we have to blaim P2P but try to improve things to put scams and other bad things on minimal level. I beleive that many people want to borrow coins with honest intention so we don't have to blaim them all.

P2P is a nightmare. There is no possible way that anyone could ever convince me to loan money to a stranger and HOPE that I get it back. For that matter, i wont even loan money to friends. It's usually a friendship killer when you dont get paid back.

I remember when BTCJam was a thing. I gave up because all it is is a way for scammers to get free BTC. Nothing happens to them so they just default and run with your precious BTC.
The moral of the story is, never lend, sell, give, anything with your BTC. Just hold it.

Giving a loan to someone is a very risky without collatera and escrow. People tends to lend some, provide valid id though still lack of documents required from a borrower. Its still they will not pay, mostly they will scam and run.