Bitcoin Forum

I know I am a newbie to this site, but have been trading bitcoins for about 2 years now, the main reason is because I was looking to make a small amount of profit, (not by mining, by investing) to help make payments on an overwhelming amount of credit card debt I built up before I understand what was happening. 

There is a fantastic site BtcJam.com   

Where you can actually set the terms of a loan (length, amount, interest, ect) and post it to the community.)  First you just have to verify who you are and you are given a credit score starting out of ''D''. 

I was hoping to just make a small amount of profit by investing in bitcoin, watch the market, as soon as it goes up (i.e. $5.00) just sell it, pay back the loan (which I was able to get at only 5%, which I promise there is no bank on the planet that will not run your credit report and loan you any money, let alone 5%.  But obivously it was for a very small amount. 

Now after my second loan, getting positive feedback, ect (connecting your paypal, ebay accounts, having friends send references for you) I've been able to improve my score to C+. 

What I think I might do now, is see if I can get approved for a larger loan, (obviously I wouldnt spend it BC that defeats the purpose), if that happens, then there is no question that over time you can begin profiting, storing that profit in a separate wallet) and in maybe a year and a half, if done properly I think it is feasible to make maybe $1,000.00 (Theres no such thing as get rich today FYI) 

If all that goes through I could either make a payment, or become the investor and earn a return.  (Since I have never been the investor, only the borrower, I don't care how low the interest is, I would never experiment on someone who hasn't proven that they repaid every loan that was borrowed on time, and they would need to have taken at least 10 loans. 


Anyway, what I did in the past, was buy $100.00 in BTC, then 2 days later when I need cash in my checking account, whether the market went up or down, I would sell, (and sell for lower prices that I should have because I had to make a payment, ect)

Regardless, the point of this post was to let anyone know who either has money to invest, or was in a scenario like me, this site is really the only option from what I've seen.  But I could be totally wrong I have never taken a line of credit in electronic currency before. 

I don't think it's a good idea to take out loans for speculation if you don't know what you're doing. You could lose the money and be unable to repay it.

Ok so you want to take a debt to get out of a debt... You do realise this is how people go bankrupt?

What was your profit in investing per year?

Hope all goes well :-)

I got scammed there once out of BTC.38. Never trust newbies who are asking for big loans off the bat

hahahahhhahaha yes im in debt, but no I wont be going bankrupt, my profit, zero dollars,  im not an investor.  and i dont mean to laugh because your right it does sound like ill be going bankrupt, but my goal was to let you know about a good site, you have no idea my situation, thank u for ur concern, but Ill be ok.. lolol im amazed at the financial advise i got from people I'm sure are certified accountants.  hahahahahahahahah

Rule nr.1 - Never loan to annymous internet stranger.
Rule nr.2 - to loan, get collateral, personal conctact and signed contract

I am not understanding you are newbie and under debts and still asking for loans its nowhere here nobody going to take this risk just try some other way its just wast of time and nothing happening here good for you

Bitcoin is not dept based currency. Try take loan at your bank, they will create the USD for you

hey i need only 17 btc loan nd i will pay 5% per month :( nd i will surly give back upto 20btcBTC

I doubt anybody will loan you money for that reason.

i hope some1gives me i jst need 17 bits to strt my buessness

Not sure this is a good idea really.

And what happens tomorrow when the bitcoin value changes and you need to play 2-3x more than initially calculated and agreed upon?

dnt wrry low btc value cannot slow my earning......i will surly pay upto 20btc

If you cannot guarantee the return of the loan, I think no one can lend you.

Doesn't sound like a good deal to me.  Sounds like loan sharks would be coming to break someones knees someday soon.   :-[

Hey, welcome to my red list! :)

y do u think its nt a gd deal???   i can give u 100 that it will 100% work at least upto 20 btc BTC