Bitcoin Forum

Why? It`s fucking useless thats why.

Allow me to explain:
1. 85% of the newcomers asking for a loan have the intention to screw you over.
2. 15% of the honest newcomers wil not be believed by ANYONE, and called scammer regardless. They will get negative trust just about from any dipshit douchebag no life nerd, who has been hanging on these forum since 2009 when bitcoins were worth less than my shit.
3. Trusted/ verry active members seldomly need a loan, in fact there is something wrong with them if they need a loan anyway. C`mon you are in the bitcoin scene since 2009 and you did not see its potential untill now. You do not deserve bitcoins mysir.

Anyway, everytime read topic in this sub I just get furious to certain people.
Newcomers all bashed into the ground, without even his true intentions known. You cannot be 100% sure about the intentions of someone just by reading a few senteces and asking a few questions. HEY some cant even be sure after seeing mugshot pictures and debt collecter letters. ;)


just close it already.

http://www.youtube.com/watch?v=QtFb8o9xabk

peace

I agree, although I suspect that 85% figure is closer to 95% if not higher.

..

I have to admit that I well and truly do not understand why this sub forum is here.

There are surely plenty of less respectable websites where this type of thing could take place.

Most lenders seem to want LTC as collateral. If you do have LTC as collateral, er, wouldn't you just exchange them for BTC?

It would save hosting space and bandwidth if it was just replaced with an address where you could send your bitcoins to be humanely destroyed without having to interact with anyone.

There's a reason why car title loan companies exist. Asking for LTC collateral is simply the cryptocurrency equivalent.

Fair enough. But it's the equivalent of getting a loan for a Porsche by leaving an identical Porsche as collateral. Perhaps there's something I'm not quite getting here.

As much as I agree with the figures, I have reasons to beleive it would be worse without this sub.

Without this subforum, newbies will just start spamming loan requests elsewhere.  Making a sub-forum as such can steer away people who don't want to be involved with this business away immediately.

Oh, so why did you post this?  Did you get mad that nobody funded your golden chicken?  https://bitcointalk.org/index.php?topic=352967.0

Many people believe litecoin will climb much as bitcoin has.  And it is.
They don't want to sell at $7 if they think it will climb to $30 tomorrow.
So they use it as collateral.  They get the $7 and they keep the litecoin to sell at $30 or higher.

Two weeks ago you could have taken out a 1 BTC loan with 70 LTC collateral. With that 1 BTC you could have bought another ~59 LTC and then after it shot up to .034, you could have sold half of your LTC for 1 BTC  to pay me back and pocketed the other half and received your original 70 LTC back. These types of collateralized loans are perfect for leveraging buys when you think a coin has hit the bottom and is about to swing back up.

It's not useless, it gives us a place to dump all the worthless SOMEBODY LOAN ME 10 BITCOINS PL0X threads.

I never thought of it that way.

I see what you did there bitcointalk. Well played sir.

I agree with you,I barely saw 1-2 succesful loans in that sub-forum,almost everyone lending asks for collateral and barely 1-2 people had that. also the amount of defaults and delays.
Trashcan is still available though :P

The problem with lending over the Internet is that collateral has traditionally been physical things... Like "loan me $400 for a week and I'll let you hang onto my TV as collateral". But online you can't give someone a physical thing as collateral - the only things you can give are virtual things, which basically boil down to currencies (LTC, gift cards etc). And if these currencies could be exchanged for money/BTC with relative ease, why would the person need a loan?