Bitcoin Forum

I made this thread to provide an alternative to interest-based finance in the best interests of the people.(pun intended) I strongly believe that interest contributes to the misery of millions across the world.

• Charging interest is inimical to a stable economy
• Interest causes unemployment, inflation, and environmental destruction
• Interest moves money from the poor to the rich
• Interest favours projects which yield high profits in the short term

I will offer Interest-free personal loans. Anyone can apply for a interest free loan but due to an expected high demand and limited funds, I have to prioritise who this money goes to.

For the sake of transparency, I require that all loan applicants use this thread to request loans. DO NOT request loans via PMs!
Loans will be considered on a case by case basis. Applicants should post the loan amount required and state the reason for the loan. If you do not wish to publicly state the reason, you must do so privately before any loan can be issued. Loans will be paid out in BTC and should be paid back in BTC. Collateral is required if you cannot prove you have the ability to repay the loan.

Lending Pool: 0.5BTC

[Loans]


Help rebuild the foundations of fair finance and donate as this will only increase the lending pool.
This is a non-profit initiative

I'd like to borrow 0.10 BTC so I can buy eggs found here:

https://bitcointalk.org/index.php?topic=892340.0

Trying to bake the largest cake ever and beat the Gusiness world record so I need a lot of eggs.

You posted before I could update the lending pool. I'm actually using some of the proceeds from my first sale for this. Please update your post if you want a loan to be considered.

Was just kidding with you, hope you realize I was trying to get a loan to buy eggs from you haha (but really don't need the eggs or want them). Good luck with your lending.

Thanks for the light humor. I hope this goes well too.

Just wanted to know that what is meant by LENDING POOL here?

Also PLEASE SEND ALL THE COLLATERAL TO A TRUSTED ESCROW

Lending Pool = funds available for loan

When you say pool do you mean you want other lenders to join you? Its not particularly clear.

Aye. I think so. There is also "Donations"

OP, do u just accumulate as much fund as possible? Then u r the actual fund owners! U just put 0.03 bitcoin there, too small as dust. How could we really trust u and donate to u!

If you want to make a one off donation of 0.03BTC, you can do so and your name would be added to donators list
I recommend donating atleast 0.03BTC ,with donations received we can continue to administer our loan funds.

Loan Amount: 0.04
to be repaid: .046
Repayment Date: on or before Jan 1
Collateral: sorry i dont have any to offer 
Reason: im just short in buying something
BTC: 12R9SPJBoiXmJiQ23HwM38gEWoBZ6FWk31

pls send me a PM if accepted.. thanks!

I doubt there will be any ppl who will donate to this pool created by newbie! OP , I think u at least should build a little trust at the beginning.

Was not very funny to me.

What the donator will get if they give the money? You can just make another acc and give the loan to it and run away. I dont think there will be donator for you

Declined.

Your loan request was declined. He is supposed to make money out of you and not the other way around. That's how "beautiful" his loans are.

you ask him to post a request to you then the answer is declined? just wow :))

Maybe he would have realized something later on and made his mind not to give out loans.

He ignored that I only had 0.03BTC to lend. He ignored the interest free repayment I am offering. (Strictly do not accept interest payments of any kind). That's before I started vetting him for the loan.

Loan Amount: 0.015 BTC
Will Return in: 7 Days
Collateral: My Account
Reason to Get loan: I need to buy a miner, got 0.02 and only needed 0.015.
Wallet Address: 17Y562iYMACaw4vyRYEcNmYjgzD3kGZDi8

I don't wanna loose my account, so i will do my best to refund you.
Cheers.

Accepted. No collateral needed for this loan but appreciate you offering your account. Repay the loan before 00:00 Sunday 4th Jan and if this loan helped you out, feel free to donate to the lending pool.

Repayment/Donation address: 13sL1Rp21DoHyBE4ksPGEaCYQreRAqByQ8

TX: https://blockchain.info/tx/7048cb4dd4f1db9cb58b05fe2a024f29933936526381cc0b38b33fffa9b75f37

Can interest on such minimal loans cause destruction, unemployment and all that you mentioned + you have a high risk of getting into a loss by giving out interest free loans. You are like gambling your money in search for tips.

Some people don't like usury http://en.wikipedia.org/wiki/Usury
I don't like it either, but it's the basis for most modern lending. OP might be taking a risk, but it may be based on his principles.

Every one out of 5 guys he gives out a loan to will default the loan. If he would have been getting interest such as 0.001btc/loan he would have got 0.005BTC out of these loans and if he got scammed, he would have not been in much loss, but without the interest, the loss will be more.  His principles are based on selling eggs and then loosing the profit that he made on eggs. :P

Paid Back, https://blockchain.info/tx/a6c3480c821e795e971a0eeef19b945bb92a98871624312a232ffb6c01d1c69a
Thank you.

Just got a feeling that you had been gambling. You just returned the loan with 2hours!
Either it was trust building loan or you won on your yolo :P
Anyways its nice to see people paying back.

I myself got my payment from a signature campaign which was i waiting from long time.
Before i could PM him to not pay, I was already paid.

Loan Amount: 0.015 BTC
Will Return in: 7 Days
Collateral: None (although I have over 500GHs on hashie.co, so in an emergency I could sell some)
Reason to Get loan: Investment (hashie.co)
Wallet Address: 1GbRySrYBF6wVyJuqDCX3bhFrgJzevZ9wr

Thanks for giving me a chance, I will likely repay early (at about 5 days), but putting 7 to be sure.

Declined.


Thanks for repaying so soon.

Sorry for reapplying, i need it this time.
Loan Amount: 0.05 BTC
Will Return in: 5 Days
Collateral: My Account
Reason to Get loan: I need to buy two sets of miners.
Wallet Address: 17Y562iYMACaw4vyRYEcNmYjgzD3kGZDi8

i will return with a donation for sure.

Declined. Unable to fund that loan.

do donators get their name on a special plaque or something?

Was going to make a list in first post but because of the skeptics I decided to just continue funding loans on my own and with any donations I get from applicants. 0.03BTC isn't alot and my egg sales haven't picked up so I probably won't add more myself until mid Jan.

Loan Amount: 0.050 BTC
Will Return in: 5-7 Days
Collateral: My Account
Reason to Get loan: I need to invest on gambling site for make profit 0.02+.
Wallet Address: 1KcBzReYZvbeGgiaMip92MMFtTFgDqB3Vm

thanks before

Declined.

Alright, Thank you for the reply.
Good luck with your awesome service.

Lending pool updated to 0.5BTC.

It really surprises me how some of the BTC community no nothing about basic economics.

Do you even understand economy and banking?

I am not really trying to hi-jack this thread but, do you know why interest is charged?  Interest it what pays the employees, grows the "lending pool" as you call it.  And how in the world does it cause environmental destruction?  Please an example.