Bitcoin Forum

Hi, i'm kinda new here. although i have done some little transactions with my bitcoins wallet. i need a loan of 4BTC @10% repayment. the purpose of the loan is to complete a purchase of computer supplies from ebay. i also have a btcjam listing https://btcjam.com/listings/3062
i'm ready to provide any necessary documentations and verifications required.
if i'm funded, repayment of the loan is guaranteed.
thanks.






blockchain wallet address  1HuDSbSCtcDBx4MPmSqTZr2CPgDUEPkVoQ

i know its kinda weird for a newbie asking for a 4btc loan. my bad.

wont mind anybody taking a chance with a newbie

Yea, dude... I'm not sure what you are thinking.

How about this... you lend me 10?

its just a simple issue of trust. if you need 10btc and i have it and i trust you, i will definitely lend it to you. if you dont pay back, its your reputation that will be dented not mine.

Why not buy BTC? And borrow some cash from friends/family.

10% is a very low rate considering the risk involved.  That rate is comparable to getting a small loan from a bank where you already have an account and they know what you make, what you deposit and what your history is.  I think 30% would be more reasonable with the equipment you buy offered as collateral.

But I have no interest in doing this myself.  I got enough computer equipment.

Last I checked, eBay doesn't accept BTC.

Also, according to your BTCJam page,


You're also giving a supposed sense of urgency (typical of scammers) yet you haven't even bothered to share what auctions you're supposed to pay for. Also, you shouldn't bid on ebay auctions unless you have the funds in-hand in the future.

Where do you live? Maybe someone can visit your home and deliver you some of the computer parts you need and you can pay them back later?

with all due respect, its a simple matter of "nobody will lend you that amount of coins". i know how the bitcoin community is prone to thieves. no one is willing to provide a loan without a collateral. i'd just keep my mouth shut on the issue. and by the way you may contact btcjam, i have already submitted all needed documents for id verification and address verification.
thanks

Could you answer the above question?

you already labeled me a scammer. i dont see the need for that.

With all the urgency to grab coins you sure do give up easily. I was proposing someone here do a safe, reputation building favor of giving your equipment in person (craigslist style) instead of anonymous over the internet. What's your objection?

No one is gonna give you ~400 dollars, why cant you use your own money ???

with all due respect Matthew N. Wright, i'm not trying to drag words with you. i you dont know me in person and you already judged me. a user here sent me a PM asking me to sent 1btc to him as a collateral for 4btc. i cant judge the the person or label the person as a scammer, cos i dont know him. i feel real terrible by your statement.

You know Allah is gonna be mighty pissed at you if you don't repay?

i'm not trying to buy your trust, but i place a very high value on reputation online and offline. anyone will be pissed at a debtor.

definitely a weird request

The only problem here is that nothing's stopping you from abandoning this account once the loan is done, and getting another account again.

Try btcjam.com if you want a 4 btc loan because i doubt anyone will give you some here

thanks. i truly understand your point due to high risk of BTC fraud. thanks once again.

There is no way someone can garuntee he will receive his money back.

collateral

sorry pal. you asked for 1btc collateral. if i had 1btc i wont post a loan for 4btc. i know it cant be verified, but i just have
0.0040911 BTC in my blockchain account and 0.0125 btc in my instawallet account. but unfortunately instawallet in down.

I couldn't agree with you more. truth be told. if i had a collateral i wont withhold it.

I feel like no one is going to loan a newbie 4 BTC. Just my 2 cents

with all the comments and suggestion, there is no hope of a loan for a newbie. from my understanding, there is a high risk of fraud and no guarantee of repayment. its kinda logical, if one gets scammed the first time, it will be hard to give out a loan even if the you are genuine.

That's about it. It is no different than a guy on the street asking for $500 with only a promise that he will meet you on the street a week from now. Would you do that?

you are right. but let me ask, do you loan out coins based on collateral or just pure instincts?

When someone presents a business plan for example, other businessmen can see that plan and know if it will likely work or not. If it will work and the agree with the risks, they are likely to provide investment capital because the idea will probably make money and the person borrowing would be stupid not to just keep making money legitimately (unless they're a professional scammer who does this for a living).

Personal loans however are a bit trickier, because you're asking someone to believe in the value and potential of the *person*. When you don't know that person, it's impossible to say and you might as well be playing SatoshiDice. Why don't you provide a product or service for money instead?

i know i just pushed the ignor putton ABANDONPOST!!!!!!!!!!!!! get a job and then you will have some money that you can buy bitcoins with.

lmao, this guy is a riot.

I'm a science guy, so math means a lot more to me than gut feelings. I would loan money if I had secured collateral greater than the value of the loan. This is tricky to do in practice, but imagine Bob wants a 4BTC loan from me. We are able to meet in person and he gives me a gold ring as collateral. I then loan him the value of the ring, perhaps it's 5BTC. I have to loan him a bit more so that he can be assured that I don't run off with the ring.  however, I would only charge the agreed interest on the 4BTC.

Upon successful payment of the principal and interest the ring is returned and everyone is happy.

Any bitcoin loan does have one additional, unique factor. What if Bob borrows the bitcoins intending to buy some later to pay his loan and the price skyrockets? If he had made a 30 day loan last month for 1 bitcoin. That one coin cost $45 when the loan was made, but he must spend $130 today just to pay the principal. What an awful deal for him! He would be better with a payday loan or even a mafia loan-shark.

Basically, bitcoin loans are a bad idea.

@OP

The newbie section isn't for loan requests.  You posting in there makes me think you're a scammer, will be watching just in case.

The old me is tempted to go on to ever known 409 scammer forum and say "come to bitcointalk for free money! these suckers are easy!" just to create in influx of scammers so large that the entire community would be *forced* to treat bitcoin like what it is--- GOLD.

"Hi.  I'm a stranger on the Internet and I need your money.  I plan on burning your money on auctions.  However, I will magically find the money to pay you back, despite being unable to afford the things I want today."

What a sound business plan!


You can begin by revealing where you're from and why they don't teach capitalization there.

with all due respect, no one is perfect. you can talk down on me all you want. two things i know, i'm not forcing anybody here to loan me 4btc and i'm not a scammer. its a forum and everybody is free to comment and suggest.

Thanks everyone for your suggestions, criticism and opinions. i've been able to secure 50% of the loan i needed. will make do with that. i know you guys here have seen all kind of scams and fraudulent request. i also know all your comments and replies are just to protect the forum and get rid of bad eggs. keep up the good work. thanks

How about offering your skills in the services section of this forum?

i could still make do if i got the remaining 50%. will check the services section. Thanks

getting a loan is hard, working in the services section is also proving difficult. i'm being asked to kidnap the presidents daughter. kinda funny and crazy.

I'd suggeyou to buy the remaining sum directly.