Bitcoin Forum

Verified on KEYBASE.io? Then you qualify for BTC loan! No other collateral required.

Requirements:

• Valid keybase.io account
• At least three identity proofs on keybase.io
• keybase.io bitcoin address
• loan amounts up to .04BTC for qualifying borrowers.
• Competitive rates based on reputation, prior borrowing and market movement.

go SILVER man!

Wait, you're willing to lend people almost $100 (U.S.D) for a Keybase account and a few identity options...? That doesn't make any sense. There is this thing called collateral which you should inquire about if you make a loan...

People can just make newbie accounts with new keybase.io accounts with new email accounts with everything new, and they can just run with your money. Why do you think you are safe using this as collateral. From the stickies, you'll see that identification or ID is not a valid collateral, no matter what it is.

If you want to give away money, then proceed with your loan business.

It's good to always quote posts of a noob, especially when it's the first one and offering/asking loans.
something its not right here but i cant figure out atm what...

Maybe in a couple of hrs, we know more. 8)

Isn't this obvious really? Op is trying to cheer people to go and create keybase.io accounts, I am willing to swear that many members done the same thing as soon as they saw this thread. I can see some newbies trying to sign up on keybase, this is one of the oldest tricks in the book.
Recently a gambling casino promised 0.01 but they only paid half and never paid the other half and currently they have locked their thread.

BITSTARZ.
LOL.

go Silver here!

This is an unsecured loan based on identity and reputation, but there IS a loan underwriting process/methodology:

• Newbie and unverified Keybase.io accounts are unlikely to be approved for loans.
• Up to .04BTC means you may qualify for less (or nothing) after loan review.
• Loan review and approval process can take up to 72 hours.

@Duomo ... we believe our underwriting process is sound.
@Starlightbreaker ... loans above .04BTC will require collateral, but as of now we're not offering loans of that size.
@Digran ... our model isn't much different from LendingClub in terms of underwriting.

So I can just make a throwaway account with the keybase invite I've from one of my original accounts and take away $100 from you ? Sounds like a great deal to me.

Correct.He will realize it after losing his coins.Don't know what model he is following where all the charts are leading to only one thing,that is losing bitcoins.

go Silver here!

@patates ... The purpose of Keybase.io-based lending is identity-based recourse. If we don't like your proofs, etc. you're not getting the loan.
@Dowomo via @patates  ... Repayment data thus far suggests viability of this approach with the right due-dilligence.

We'll be reporting our results. Not takers thus far & nothing to report.

Seeing as how people on this forum are willing to go to extreme measures to scam $5, I would not be surprised if there is someone creating fake accounts and spoofing them to look adequately real to verify on Keybase right now.

This is a nice idea, but quite frankly, I can't help but see this as a reward of ~$90 to people willing to forge real-looking verifications and connect it to a new Keybase account - plus the few legitimate loan requests.


...sounds contradictory with...

go SILVER man!

@bitcoin_revo ... Hopefully we'll get many legitimate loan requests. I can tell you there is no reward for Keybase.io accounts to my knowledge. That bit of tech is free.

There will be if you're lending up to 0.04BTC for every Keybase account that is verified and looks legit.

I would suggest locking this thread and rethinking everything before you lose coins to scammers. Just because something looks legit doesnt mean it is. Never judge a book by its cover.

Good luck because you will need it if you continue.

Not sure if he is trolling lol but every post that you reply to along with that tagline reminds me of "Run Forest Run" scene from Forest Gump.

Why lock the thread ? He needs to openly address the pros and cons of lending though his modal.Moreover,I'd like to see how it goes.I mean let's see if any verified keybase.io user ever pays back his loans.

I won't tell you to stop, but be warned. Many people may try to scam you. I have a keybase account with 9 invites, and I imagine others have more. It isn't that hard to fake a valid identity.

You do not even need to have an invite now, im not sure why they have not removed the invites already since you can register without one. But yeah you are right, anyone can generate an PGP key and few social media accounts in a moment. I heavily suggest giving loans on trust and collateral rather than some social media.

go SILVER here!

To reiterate:

• To qualify for an unsecured loan you must have a valid Keybase.io identity with at least 3 proofs.
• Based on this we will conduct due diligence and may loan up to .04BTC.
• If you don't qualify for an unsecured loan we may offer a secured loan, but only for amounts over .04BTC.
• I think the reaction is the "too good to be true" reflex. So, again, we are rejecting applicants we can't underwrite. We are managing risk through reputation.

Thank you.