Bitcoin Forum

Intro
I've been lurking around the lending threads for quite some time and found out there's quite a few people around here that are requesting loans. Both large and small. All for various reasons, but looks like there is a demand for micro-loans.

I would like to offer a lending service. Almost like a payday loan service, but at the micro-level. It's an advantage we have with bitcoin that you can't get (or is rare / not as easy) with banks or any online service with my knowledge.

It's just something I'm testing out for now. Best case scenario is it works and we scale it. Worst case scenario is that I get scammed ...

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Open Loans

Overdue/Defaulted
bleeding2323 for .02 BTC opened on 04/08. Due on 04/15
https://blockchain.info/tx/9bfa00e6035841f859c3016e36eaeab0229ef2cf143fd40c72fed964c039efa8

bleeding2323 for .01 BTC opened on 04/10. Due on 04/17
https://blockchain.info/tx/921732221cf375be6d5b509bd10933cf4279ba213b79c888433326dc2f9dde8f
joeyjmr8484 for .01 BTC was due on 04/14 https://blockchain.info/address/15sqkhWNFbqS3w38QLkfKxAbC4jTvugMJj
Notes: Can't get ahold of him via PM or Skype. Obvious dodging. Doubt I'll ever get this money back. Have screenshot of him, but this was already posted in the other forum. Guy is broke. Plain and simple.

Paid
RuneBTC for .02 BTC paid on 04/15
https://blockchain.info/address/12Azs8nCeugxe7R4tfniJSmxZbLhpoTuAS

RuneBTC for .01 BTC paid on  04/15
https://blockchain.info/address/12Azs8nCeugxe7R4tfniJSmxZbLhpoTuAS

Amount of Loan Money Available -0 BTC Total. Waiting until 04/14-15 to see if anybody actually pays

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Terms
1. I'll give you exactly 7 days to pay it off at double the rate. (i.e. - You borrow .01 btc. You owe .02 btc in 7 days).
2. Either you can do a video chat with me defining what you need or post colateral worth double the original loan amount.
3. You must be a member of bitcointalk for at least six months ... or be vouched by somebody who has rep on bitcointalk.

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Don't you think that the rates are a little much?
Not really, go into a payday advance place and you'll have rates worse that that.

What about escrow?
I could see needing escrow if you don't trust me with your collateral. In this rare case, I'm open to discussing an escrow. Somebody that is trusted in the bitcointalk community.

Why a video chat?
Well, most people are OK with scamming and lying, but I highly doubt that somebody is going to do that via a video.

What if I don't know or have video chat?
Between Skype, Google, and Facebook .. you can get it on your phone. If not, move down to collateral.

What type of collateral do you take?
Anything really, digital would be the best ... gift cards or something of that nature. In that case, I would just redeem it online and then purchase you a new one if you pay everything in full.

Obviously any other alt-coin at market value.

Can also accept poker money.

Non-Digital is OK as well, but you would pay shipment fees on it.

What if the individual can't pay it off in full in 7 days?
This is going to be a work in progress like anything, but maybe just payback the original amount and "resign" for another week.

What are your limits?
Per Person - .01 BTC
For Me - I'm not going to have more than .1BTC out at a time.

What if somebody ducks and runs?
Well, it would suck, but I'm guessing it probably will happen. Hopefully we have enough good souls out there who don't try and take full advantage of "the system".

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Quick honestly this is going to be a work in progress. I don't expect it to be perfect, but hopefully I'll gain a little support from the community and possibly be able to build a more streamlined way of doing things if things work out.

Hi !
I can see something familiar here.... ;)
Anyway I'd like to:
- Borrow = 0.01 BTC
- Rate = 100% (woowww)
- Collateral = 0.35 LTC (double wooowww)
- 1 week
- Escrow wanted (it's me to choose... don't worry he's a very trustworhy member of this forum)

Let me know, CC.

For one, taking a loan is optional, it's not like I'm forcing them into taking my offer. Two, if you don't like what I'm doing then stay out before you start bitching about the rates and what I'm doing. I personally think what I'm offering is reasonable and I'm just adding another layer of security to the mix. Third, the escrow will be somebody both I and the other agree on. The rate is being charge because it's a form of convenience.

Little story - I went to the local store today and paid $5.00 for a pre-made sandwich. Why? Because it was convenient. Was I or anybody else complaining about the ~3.00 in markup on the sandwich? No. Was I happy with the sandwich? No, in fact the sandwich sucked. The bread was white -- I prefer wheat. It was lacking on the veggies and I could tell they weren't fresh. But I paid for it. Ate it. And it filled my stomach.

Moral of story -- Let people buy the damn sandwich if they want to. There's worse things in the world they can do.

I'll gladly take constructive criticism, but I'm not going to flame other peoples thread. It's a community for a reason. You don't see me going in your thread and blowing it up do you?

Thanks for the thread cap, bro

Get a life.

U mad bro? Yes.

PS - You've been a member for 2 months. And i haven't been for much longer than that. Nobody is freakin' expert here or has the right to troll anybody. Stick to common courtesy.

Hey...
I absolutely didn't mean to offend or troll anybody here. Really.
Didn't realize a bit of soft irony could hurt so much.

Anyway, said that:
- It's my intention still request the loan.
- If you accept, my choice's escrow will be sent you via pm.

PS: We can even have a videochat if you like or if you think this could help to better understand each other.
Even if you're not going to cover the loan.

Take care, CC.

Hello!
I am wishing to borrow .01 agreeing to all your conditions. I only need this loan for a very short time though.
If you could PM and schedule a video conference that would be great!

Thanks!

Bump.

Bringing this back. Was never able to get a hold of anybody once I did the video chat. So I'm giving this another shot.

Follow the terms and I can ship up to .1 btc.

hey would like to get a .02 bitcoin loan i have collateral (its physical though) and i agree to terms and conditions:)

Worse than 100% interest (payback 200%) for just 7 days?
Would you like to try to prove that?
Maybe I'm wrong....

PM me if you still want this - Can do a skype, G+ Hangout, whatever you want.

i have pm'ed you and i'm waiting for a repsonse thanks!

Had a skype convo with runebtc and was able to provide with a .02 loan. Good luck!

Still .08btc available!

Hi, I would like a .08 loan please.

At least use an account that doesn't have a scammer tag attached to it.
Have you showered since the last time we've talked or are you going for a three year record? :D

Actually I'm not sure if my statement can still be applied of "nobody will be turned down". Needs to have an asterisk (*) for cases like this. LOL.

Hey wish i could loan 0.1 btc but that is not possible
Cause im a newbie here

You able to loan me? You said nobody turned down/ I will pay for sure on 4/15.

Will you do a video chat via skype?

Yes I will. My skype is joeyjmr8484

A past PM from Joey to another user:
I'm sure he'll be more than willing to talk with you on skype. :D

Really though, don't give him a loan. He gambles it away and already owes me a bitcoin.

Sent .01 btc to joey

TY so much! What is payback address please?

LOL goodbye money.

Check your pm please!

I've responded.

SixFigures, did you have a skype call with him?

@SixFigures, do you need investors to be able to loan out more? Or is your max just because that's what you're wiling to lose if they default?

Yuppers. That's why I sent it.

Um could be a little bit of both. Like I def don't need investors at this level. As long as things work out I could see myself doing this for the next couple years and possibly automating it (building a website with admin and what not) so it's more streamlined.

But yeah, I'm comfortable losing if it happens every now and then. Will be interesting to see the results after we get a good sample size and I can see how to improve.

Interesting to think if maybe we could give out short term loans at 1BTC+. I mean, I"m sure there's a market for it!

EDIT: As for my max, I can't see myself lending out more than .25btc at a time to one person. Even then I'd be pretty skeptical and would need a lot of information and most likely collateral.

hey i have also sent you an pm

Bump.

First run at it and have 0 people who have paid up.

Not to concerned about the money. Was just looking to help people out. Can't even get a hold of 2 outta 3 people. *Sigh*.

If they default anybody can feel free to buy up the debt if they want to.

LOL

He has scammed a dozen people on here at least.

Edit:  Didn't realize my quoted post was so old.  You may not "trust" the trust rating, but if a user has SCAMMER below their name, they cannot be trusted.  Period.

Yeah, I'm just a nice person I guess I just expect the best from people .. also I expect that somebody always has at least $10 to their name. lol.

Wish I could have warned you, but I was on vacation.

You may want to look at these two people.   ;D

https://bitcointalk.org/index.php?topic=557892.0

Looking for .05 loan please. Payback on 4/18

No. You haven't been a member for six months. Read the OP.

By lending to known scammers, you're basically "feeding the animals" and attract more of them here. You're not helping; you're doing a disservice to the community.

im looking for a loan and trusted here and done a few trades already.  Can you do me a loan?

I like this precedent and what you did here.    :)

Zolace, get yourself some collateral and build up some positive trade references.   :)

vod I have a few trades already, sold a card for .35 btc and other stuff.  just that since memebers that leave me feedback dont have green , they dont effect my postive score which is not fair at all

They will in time, as they become trusted themselves.

Just be patient, stop asking for loans until you have collateral, and you will get there.

ok but then i wont need any loans by that time lol, just need it this month.  I know for a fact after this month i wont need loans, 

just found this thread

how could u loan joey lol

Lmao I just saw this and I'm laughing. Joey doesn't care that we know his address and that we know what he looks like, etc, he's too busy having incest with his mother and gambling all his money.

IMAO

Yeah pretty spot on .. can u remove my negative rep and I'll just lock this thread up and call it a mistake? Negative rep looks so bad .

I didn't leave you negative feedback.

Sorry that was for tomatocage.

Damn....while he is enabling scammers, I don't think leaving him negative trust is fair as he hasn't done anything to make him untrustworthy and he hasn't scammed people. He's already lost BTC, just let him learn from his mistake which has cost him money.

Yeah - it was an experiment I tried. Its done. At the most I can help protect this from happening again.

I see u have a green postive that can bring ur negs level down, put him in ur trust profile

That would only affect the way he views his own trust rating.  Wouldn't affect anyone else.

If you're talking to me I'm not in DefaultTrust - well, not the truly default DefaultTrust. There are 3 (7 repeated if you count duplicates) instances of me on DefaultTrust with depth set to 3 but 0 instances of me on DefaultTrust with depth set to 2, apparently I haven't reached the correct level of swag trust yet :P

Done. Thanks man.

I think that's fair, because in a way Tomatocage, you were supposed to be watching the lending forum while I was on vacation.   ;)

Cool. Thanks Tomatocage.

I'm done with the thread. Learned my lesson while possibly something deeper, but for now the thread is locked up.

PM me with any questions. Ill gladly open up if need be.