Bitcoin Forum

I'm not looking for a loan at the moment. But just wondering, what kind of collateral is allowed here? Can twitter, facebook, instagram, linkedin accounts be used as collateral? If so, what is the process like and will an escrow be needed?

Also, what is the normal interest rate for a 2-3 months loan?

You can always start and read the stickies here, in this section.
https://bitcointalk.org/index.php?topic=577765.msg6311902#msg6311902

Try not to be lazy next time, cheers.

Thanks. I've previously read it but it doesn't specifically address my questions.

What exactly you want to know?
The possible that i know valid collateral are altcoins and high rank accounts since your account is not acceptable as collateral you can try to give altcoin as collateral.. there are some lender are accepting altcoin or other acceptable collateral.. better to look for their threads and check every thread which are their acceptable collateral..

I want to know if there is a possibility of using say a facebook or instagram account as collateral. If possible, how might one go about doing so and if an escrow would be needed to complete the transaction.

Most likely not, since Facebook and Instagram accounts are reclaimable by the original owner if he/she files a report that it was hacked.

Rule of thumb: ask yourself if it's possible in any way for the original owner to pull a shady tactic to snatch the collateral back.

Thanks for the reply.

But doesn't this invalidate most paypal transactions since you can practically chargeback most payments?

Also, doesn't it mean facebook and instagram accounts should never be allowed to be sold or traded?

PayPal should never be used for collateral, IMO. If you're asking about it being used in exchange for bitcoin, you're right; that's why the person in a currency exchange of PP/BTC typically needs to be somewhat reputable.


I've never traded social media accounts before so I'm not sure if there are methods of making sure that those account trades are irreversible, but I'd think that the same rule as above (person w/ account needs rep) would follow.

Ok thanks. I will look more into the rep requirements and continue to build up my own rep.

That's good but don't forget.
You will not built trust here asking Loans, here it's not some Lending service site.

I wsh you though all the best, good luck. 8)

I was looking around the sub-forums and am surprised that lending facilities exist. Hopefully I will never need a loan; I see it as a very last resort.

You have a good day as well :)

Even if its a last resort, without contributing to the community, and without being someone who is trustworthy,  getting a loan without proper collateral will be hard for you. It would be best to try friends and family first before coming here. Good luck bud!

Which is why I'm asking questions about the collateral. I'm sure I won't need it, but just curious that's all :)

Thanks and you have a nice day too!