Bitcoin Forum

Economy => Lending => Topic started by: Kluge on January 07, 2014, 10:37:14 PM



Title: Lending Subforum Intro & Scam Trends
Post by: Kluge on January 07, 2014, 10:37:14 PM
General good practices:
  • Lending used to only require some sort of "proof of reputation" (anything from a long post history, ID, or Web of Trust stats to a full credit report) from lendees. Due to an exceptionally high incidence of scamming, this is generally no longer the case. You generally MUST put up some form of collateral (usually some type of alternative cryptocurrency, like Litecoin or Quark). This depends heavily on the lender, and physical collateral may also be accepted (motorcycles, watches, PMs).
  • Please refrain from requesting unnecessary "confidence loans" (a loan you don't need, but want to take out simply to show you'll repay). This was an issue a year or so ago, where scammers would take out incrementally larger loans, pay maybe .1BTC in interest, then take off with a 1BTC loan. A history of so-called confidence loans inspire more hesitancy than confidence.
  • This subforum has an exceptionally high amount of trolling. Legitimate lendees are scared away or simply don't care to subject themselves to unjustified degradation. Skepticism is okay, but please try to be civil. Either way - if you request a loan, be prepared.
  • Almost all loans issued in this subforum would be at rates considered to be exploitative in most countries. We're talking about something like 5-15% monthly (there are some more favorable alternatives, such as seeking out the Islamic Bank of Bitcoin). Use short-term loans responsibly, do not use loans for naked market positions or otherwise attempt to arb, and you should only use short-term lending from strangers as an absolute last resort.

Scam trends:
  • There is an ongoing scam issue where "lenders" are saying they'll issue loans for collateral. The "lender" then takes the collateral and disappears. Prevent this by using reputable escrow providers or only dealing with lenders you trust. Keeping in mind that proving available funds isn't necessarily connected to whether or not a lender will steal collateral and disappear, you can also ask a lender asking for collateral to show he has the funds to lend you by signing a message with his private key (most BTC clients have a GUI allowing you verify messages, though they don't all use the same scheme to do this -- if a message fails to verify, you may wish to ask the signer to tell you which client and scheme he used so you can double-check using the same set-up he has ).

Please post new repeat scam tactics here. They will be added to the list.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: hostmaster on February 11, 2014, 02:11:37 PM
It's very good post, i have seen people here scammed badly on lending. I cant goodly stress enough importance of being carefull!


Title: Re: Lending Subforum Intro & Scam Trends
Post by: yntro on February 19, 2014, 08:27:39 PM
I need 0,02BTC loan but after reading this.. I don't think anyone will give me this ...


Title: Re: Lending Subforum Intro & Scam Trends
Post by: paysafecoin on February 28, 2014, 07:08:27 PM
I need 0,02BTC loan but after reading this.. I don't think anyone will give me this ...

I will give you the loan =)


Title: Re: Lending Subforum Intro & Scam Trends
Post by: pekv2 on May 12, 2014, 02:39:53 AM
General good practices:
  • Lending used to only require some sort of "proof of reputation" (anything from a long post history, ID, or Web of Trust stats to a full credit report) from lendees. Due to an exceptionally high incidence of scamming, this is generally no longer the case. You generally MUST put up some form of collateral (usually some type of alternative cryptocurrency, like Litecoin or Quark). This depends heavily on the lender, and physical collateral may also be accepted (motorcycles, watches, PMs).
  • Please refrain from requesting unnecessary "confidence loans" (a loan you don't need, but want to take out simply to show you'll repay). This was an issue a year or so ago, where scammers would take out incrementally larger loans, pay maybe .1BTC in interest, then take off with a 1BTC loan. A history of so-called confidence loans inspire more hesitancy than confidence.
  • This subforum has an exceptionally high amount of trolling. Legitimate lendees are scared away or simply don't care to subject themselves to unjustified degradation. Skepticism is okay, but please try to be civil. Either way - if you request a loan, be prepared.
  • Almost all loans issued in this subforum would be at rates considered to be exploitative in most countries. We're talking about something like 5-15% monthly (there are some more favorable alternatives, such as seeking out the Islamic Bank of Bitcoin). Use short-term loans responsibly, do not use loans for naked market positions or otherwise attempt to arb, and you should only use short-term lending from strangers as an absolute last resort.

Scam trends:
  • There is an ongoing scam issue where "lenders" are saying they'll issue loans for collateral. The "lender" then takes the collateral and disappears. Prevent this by using reputable escrow providers or only dealing with lenders you trust.

Please post new repeat scam tactics here. They will be added to the list.

Thanks, Kluge. I should have read this first prior to making my first loan thread. Specifically the bolded part. I am now prepared in my second made loan thread.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Muhammed Zakir on June 28, 2014, 10:35:42 AM
Hello!
Can we trust donators (I didn't meant you.  :) ) ? I asked because they are donating btc to the forum, so I think they are good persons and also you are a member of this forum for a long time. So you might have seen everything going around here...

Kindly,
        Muhammed Zakhir


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Justin00 on July 23, 2014, 08:01:26 AM
No you can not trust a donator. They might of donated 10BTC when BTC was $0.01 - $5 etc etc.
A lot of hero and donator members were the ones who pulled off the biggest scams. Do not trust any one until you have gone over them thoroughly.. even if they have a bit of good trust.... Perhaps if they have a lot of good trust you could trust them...


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Justin00 on July 23, 2014, 11:11:10 AM
After replying the to guy with "100BTC"...... I propose anyone lending money should sign their BTC addy proving they have the BTC.
It should be in OP.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: paceta on July 23, 2014, 11:13:35 AM
Thats a very good idea but how will OP prove it is really his wallet?

Maybe some trusted member should open some wallet and ask OP to deposit like 1-2 cent to the said wallet to proof it is him wallet and he have the coins that he whant to lend :)


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Justin00 on July 23, 2014, 01:05:05 PM
If they have 10BTC or any amount in their wallet on a certain address, if they sign a message using that address we can verify it belongs to them :)
You can test it out using your own wallet and sign messages etc.

Thats a very good idea but how will OP prove it is really his wallet?

Maybe some trusted member should open some wallet and ask OP to deposit like 1-2 cent to the said wallet to proof it is him wallet and he have the coins that he whant to lend :)


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Kluge on July 24, 2014, 02:43:44 AM
After replying the to guy with "100BTC"...... I propose anyone lending money should sign their BTC addy proving they have the BTC.
It should be in OP.
Kinda-sorta added.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: vafelcz on December 06, 2014, 03:32:41 PM
I need 0,0025BTC loan but after reading this.. I don't think anyone will give me this ...


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Quickseller on January 11, 2015, 07:50:01 PM
There are some people who appear to be making very risky loans (even to people with negative trust) then end up getting repaid. I speculate that some lenders are lending money to their alts in order to build up trust of their alts so they can eventually borrow more significant money from someone else


Title: Re: Lending Subforum Intro & Scam Trends
Post by: rtserv on January 18, 2015, 01:08:35 PM
Can't you just restrict the IPs? I think there are people who are using many accounts from one IP at the moment. Buying and selling accounts is also helping scammers.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: needFREElunch on January 31, 2015, 08:13:33 PM
I have noticed somewhat of a scam trend:

People will offer their domain/website as collateral while giving it outrageous valuations. The amount of the loan will of course be much less then what they claim it to be worth, while the actual value of the domain is closer to zero


Title: Re: Lending Subforum Intro & Scam Trends
Post by: xerbot_dev on March 05, 2015, 10:40:27 AM
Quote
This subforum has an exceptionally high amount of trolling. Legitimate lendees are scared away or simply don't care to subject themselves to unjustified degradation. Skepticism is okay, but please try to be civil. Either way - if you request a loan, be prepared.

Heed this advice and stay away from this section altogether. You're better off selling something you own or make than asking for a loan here.

Source: I asked for a loan.  :-X


Title: Re: Lending Subforum Intro & Scam Trends
Post by: leen93 on April 04, 2015, 06:18:45 PM
why don't we just ban newbies from posting here? it gets kinda annoying with all the scams


Title: Re: Lending Subforum Intro & Scam Trends
Post by: --Encrypted-- on July 16, 2015, 12:57:43 PM
Hi

I need a loan of 1BTC how to get it

I am new on the community but have all the valid docs with regular income

Regards
Amit

make a thread/post requesting a loan and provide a collateral. not documents like bank statement or other information. but something on this list (https://bitcointalk.org/index.php?topic=577765.msg6311902#msg6311902) (under "What is considered collateral?") that is worth at least 1.1BTC, which you will have to hand over to the lender for assurance.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: webdeveloper5050 on July 17, 2015, 05:48:49 AM
still very hard to trust someone online.especially when you send bitcoin.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: tlictdig on September 03, 2015, 11:25:34 AM
Hi,

As a noob here, can someone tell me how I can ask for a loan using domains as collateral?

Thanks


Title: Re: Lending Subforum Intro & Scam Trends
Post by: strayanbit on January 21, 2016, 04:31:34 AM
I don't lend or borrow here, but I imagine if you wanted to use a domain as collateral it would have to have some value.
There are a few sites out there which will give you an approximate $US valuation for a domain. 
Once you have the value, screenprint it (hopefully with a time and date), and then you will have to hand your domain over to the person giving you the loan, for the period of the loan or an escrow service.

Even with the above info, some lenders may not accept a domain or a website as collat', but if it's worth anything it may well be worth a go.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: bitsizeinvestor on January 27, 2016, 07:40:35 AM
I am new here.

Wonder how does the collateral of domain and altcoin and message work? Firstly, how do I receive and keep the collateral? Secondly, how do I turn these into cash or bitcoin?

Thanks in advance.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: --Encrypted-- on January 27, 2016, 08:04:18 PM
I am new here.

Wonder how does the collateral of domain and altcoin and message work? Firstly, how do I receive and keep the collateral? Secondly, how do I turn these into cash or bitcoin?

Thanks in advance.

1a. for domains you or the escrow will need to have a registrar account. the domain collateral will be transferred to your or the escrow's account. additional fee may be charged.

1b. for altcoin you or the escrow will need to have an address to store that altcoin. from wallet or an exchange.

2. you sell them. duh.  :P


Title: Re: Lending Subforum Intro & Scam Trends
Post by: bitsizeinvestor on January 29, 2016, 09:29:47 AM
I am new here.

Wonder how does the collateral of domain and altcoin and message work? Firstly, how do I receive and keep the collateral? Secondly, how do I turn these into cash or bitcoin?

Thanks in advance.

1a. for domains you or the escrow will need to have a registrar account. the domain collateral will be transferred to your or the escrow's account. additional fee may be charged.

1b. for altcoin you or the escrow will need to have an address to store that altcoin. from wallet or an exchange.

2. you sell them. duh.  :P

Thanks. But in that case, is it possible that the lender will sell away the collateral and run away if the collateral worth more than the loan itself?


Title: Re: Lending Subforum Intro & Scam Trends
Post by: marjod on January 29, 2016, 09:51:12 AM
Thanks. But in that case, is it possible that the lender will sell away the collateral and run away if the collateral worth more than the loan itself?

If the lender is not established as trusted, you should escrow the collateral to a trusted third party in order to avoid this case. For exemple, if the lender is a newbie account and want to hold your collateral, don't send it to him but to a trusted escrow. Better pay a small escrow fee than lost your collateral.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: BTCBroker2016 on May 14, 2016, 04:47:39 AM
Is it possible to get a sticky of Trusted lender services?


Title: Re: Lending Subforum Intro & Scam Trends
Post by: morantis on June 06, 2016, 02:57:21 AM
Is it possible to get a sticky of Trusted lender services?

services, maybe, people would be a bad idea

i have seen members on here, long time members that have helped people and given money away and such either start a website or service or get involved and two weeks later that trusted members is gone and so is the site.

the same has been true for lending and escrow, it makes you wonder if the two years it took to build the account were all just a setup for that one time site take down of hundreds of Bitcoins, maybe, i think people just change  over time, especially when the miracle cure of Bitcoin did not solve all their problems by making them rich, well, actually, in the end, it did, lol

point is, two three year old accounts with trust and honor on here have turned and ran quickly and without a word, a list of services would be nice, i would watch and suspect every individual in the end


Title: Re: Lending Subforum Intro & Scam Trends
Post by: The Pharmacist on June 06, 2016, 03:08:37 AM
Is it possible to get a sticky of Trusted lender services?

services, maybe, people would be a bad idea

i have seen members on here, long time members that have helped people and given money away and such either start a website or service or get involved and two weeks later that trusted members is gone and so is the site.

the same has been true for lending and escrow, it makes you wonder if the two years it took to build the account were all just a setup for that one time site take down of hundreds of Bitcoins, maybe, i think people just change  over time, especially when the miracle cure of Bitcoin did not solve all their problems by making them rich, well, actually, in the end, it did, lol

point is, two three year old accounts with trust and honor on here have turned and ran quickly and without a word, a list of services would be nice, i would watch and suspect every individual in the end
Yep, and you know what I think is responsible for a lot of that?  Account sales.  And they happen right here in the open and nobody seems to give a shit.  If you banned them here, they'd be less likely to sell.  And I think sellers and buyers both should be tagged a nice shade of red by the DT members.  But most of them are happy with the status quo which got them their positions in the first place. 


Title: Re: Lending Subforum Intro & Scam Trends
Post by: morantis on June 06, 2016, 03:13:57 AM
Is it possible to get a sticky of Trusted lender services?

services, maybe, people would be a bad idea

i have seen members on here, long time members that have helped people and given money away and such either start a website or service or get involved and two weeks later that trusted members is gone and so is the site.

the same has been true for lending and escrow, it makes you wonder if the two years it took to build the account were all just a setup for that one time site take down of hundreds of Bitcoins, maybe, i think people just change  over time, especially when the miracle cure of Bitcoin did not solve all their problems by making them rich, well, actually, in the end, it did, lol

point is, two three year old accounts with trust and honor on here have turned and ran quickly and without a word, a list of services would be nice, i would watch and suspect every individual in the end
Yep, and you know what I think is responsible for a lot of that?  Account sales.  And they happen right here in the open and nobody seems to give a shit.  If you banned them here, they'd be less likely to sell.  And I think sellers and buyers both should be tagged a nice shade of red by the DT members.  But most of them are happy with the status quo which got them their positions in the first place. 

My favorite thing of all time here is escrow.  no proven trust, just a third party that says they will keep the other two safe by holding everyone's money.  Just using the word escrow makes two or three people pop out and start trading.  It is like a magic necklace that makes you appear trustworthy and you are just you, can be trusted or not.  They even create scripted websites to create the illusion of trust.

Anyone can do that....find a domain that includes free SSL for the first year, some web hosting, find the script out there for free or drop ten bucks and suddenly your BTC account has the money in it from one of more people, protected by you, lol.  I think anyone that does this for a year or more and watches $1000's of dollars pass through their account, only to make a couple bucks on the service, will get bitter and bolt one say with someone's money.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: MoneyJ on June 17, 2016, 05:17:01 AM
Lenders have always used 3rd party for escrow service. But make sure it's legit .


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Kevin29 on June 18, 2016, 07:51:15 AM
Now i cant loan  :'(


Title: Re: Lending Subforum Intro & Scam Trends
Post by: morantis on June 18, 2016, 08:25:26 AM
Now i cant loan  :'(

why would people trust you in a loan?


Title: Re: Lending Subforum Intro & Scam Trends
Post by: maincoon on June 18, 2016, 11:30:52 PM
IMHO most people here are not reliable enough to get any loan. I was burned too many times on scammers even from legendary accounts with good rep. People are buying/hacking such accounts and they are defrauding money.

So yeah anonymity = no loan for you dude. ever


Title: Re: Lending Subforum Intro & Scam Trends
Post by: sonofjesus on June 28, 2016, 07:16:46 PM
i want to any one lend me
what i must do to trust for me

what collateral i must provide ?


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Jeremycoin on August 10, 2016, 01:52:51 PM
If I lend some Bitcoin to someone, and if the deadline has passed and he still had not paid. How long I have to wait til the collateral be mine?


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Bemerand on August 11, 2016, 12:32:40 AM
I still cant figure out how a bitcoin lending service even works, do you owe the money or the bitcoins? is the interest on the money or the bitcoins?


Title: Re: Lending Subforum Intro & Scam Trends
Post by: shivohum2015 on August 11, 2016, 09:55:07 AM
can anyone explain me first what is the meaning of "OP", this peculiar term is very frequently used over here. and second this is how to sign a message when some ask for


Title: Re: Lending Subforum Intro & Scam Trends
Post by: arseaboy on October 16, 2016, 01:36:33 PM
It's really such a bad idea to get a loan. We really need to earn bitcoin in a hardway. Really hard to trust people nowadays when money talks.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: piececake24 on November 04, 2016, 03:35:47 PM
there are so many newbie's here that's why people doubt or get hesitate to make a deal


Title: Re: Lending Subforum Intro & Scam Trends
Post by: styleyfrancky on November 20, 2016, 10:41:09 AM
Scam trends:
  • There is an ongoing scam issue where "lenders" are saying they'll issue loans for collateral. The "lender" then takes the collateral and disappears. Prevent this by using reputable escrow providers or only dealing with lenders you trust. Keeping in mind that proving available funds isn't necessarily connected to whether or not a lender will steal collateral and disappear, you can also ask a lender asking for collateral to show he has the funds to lend you by signing a message with his private key (most BTC clients have a GUI allowing you verify messages, though they don't all use the same scheme to do this -- if a message fails to verify, you may wish to ask the signer to tell you which client and scheme he used so you can double-check using the same set-up he has ).

I enjoy this part, it shows that borrowers can face scammers too, not only the lenders. But I don't understand the part "you can also ask a lender asking for collateral to show he has the funds to lend you by signing a message with his private key (most BTC clients have a GUI allowing you verify messages, though they don't all use the same scheme to do this...). Can someone explain it to me, please?


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Vorth on March 19, 2017, 07:47:59 PM
very hard to trust someone online especially when you send bitcoin.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: piececake24 on May 12, 2017, 09:08:25 AM
Lending money is not an option this nowadays it's better to work hard and put some effort even if it is a little money but guaranteed safe


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Soldiernumberone on June 11, 2017, 03:04:28 PM
I need 0,02BTC loan but after reading this.. I don't think anyone will give me this ...

Yes it seems with no collateral or reputation , people in our situation will find it very difficult .


Title: Re: Lending Subforum Intro & Scam Trends
Post by: SativaDiva on July 12, 2017, 06:41:24 AM
A lot more people definitely need to see this post. There are tons of people willing to scam in order to make a quick buck. It's sad that the entirety of the bitcoin platform has to do with: connecting, networking, and being rewarded for maintaining security but there are still so many people willing to jeopardize and skew online transaction reputation.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Bells Julls on August 12, 2017, 12:53:47 AM
I need 0.03BTC loan but after reading this .. i do not think anyone will give me this .. :-\


Title: Re: Lending Subforum Intro & Scam Trends
Post by: rcoins0720 on August 29, 2017, 12:45:50 PM
lending some btc with no assurance is meh!!
kinda like playing with the fire dude!
if he/she has proof and thrustworthy guy then go and lend btc if not then don't simple as that...
and also you need to be more practical and to be secure


Title: Re: Lending Subforum Intro & Scam Trends
Post by: HappyLocust41 on December 15, 2017, 08:42:49 AM
In lending should I trust the website if it has a structured whitepaper? And have many youtube testimonials? I also wanted to invest in bitcoin. But I am scared to get scammed.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Vod on December 27, 2017, 09:54:26 AM
In lending should I trust the website if it has a structured whitepaper?

A "whitepaper" usually means a technical paper, to explain a new technology or idea.

Lending isn't complicated or new - there should be no reason for a lending website to have a whitepaper, other than boost it's credibility.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: investerS on January 11, 2018, 04:49:52 AM
I think i should have read this the first time i entered this section. Now i know why i was denied and why my message was misconstrued.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: nodelover on January 25, 2018, 10:40:47 PM
This post is very useful to those newbie like me to avoid scam :) Thank you Sir! Appreciated :)


Title: Re: Lending Subforum Intro & Scam Trends
Post by: investerS on February 04, 2018, 06:49:48 AM
General good practices:
  • Lending used to only require some sort of "proof of reputation" (anything from a long post history, ID, or Web of Trust stats to a full credit report) from lendees. Due to an exceptionally high incidence of scamming, this is generally no longer the case. You generally MUST put up some form of collateral (usually some type of alternative cryptocurrency, like Litecoin or Quark). This depends heavily on the lender, and physical collateral may also be accepted (motorcycles, watches, PMs).
  • Please refrain from requesting unnecessary "confidence loans" (a loan you don't need, but want to take out simply to show you'll repay). This was an issue a year or so ago, where scammers would take out incrementally larger loans, pay maybe .1BTC in interest, then take off with a 1BTC loan. A history of so-called confidence loans inspire more hesitancy than confidence.
  • This subforum has an exceptionally high amount of trolling. Legitimate lendees are scared away or simply don't care to subject themselves to unjustified degradation. Skepticism is okay, but please try to be civil. Either way - if you request a loan, be prepared.
  • Almost all loans issued in this subforum would be at rates considered to be exploitative in most countries. We're talking about something like 5-15% monthly (there are some more favorable alternatives, such as seeking out the Islamic Bank of Bitcoin). Use short-term loans responsibly, do not use loans for naked market positions or otherwise attempt to arb, and you should only use short-term lending from strangers as an absolute last resort.

Scam trends:
  • There is an ongoing scam issue where "lenders" are saying they'll issue loans for collateral. The "lender" then takes the collateral and disappears. Prevent this by using reputable escrow providers or only dealing with lenders you trust. Keeping in mind that proving available funds isn't necessarily connected to whether or not a lender will steal collateral and disappear, you can also ask a lender asking for collateral to show he has the funds to lend you by signing a message with his private key (most BTC clients have a GUI allowing you verify messages, though they don't all use the same scheme to do this -- if a message fails to verify, you may wish to ask the signer to tell you which client and scheme he used so you can double-check using the same set-up he has ).

Please post new repeat scam tactics here. They will be added to the list.
Thanks so much. i should have read this the first time i came to this thread. No wonder i was bombarded with neg trust despite not scammed anybody.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Phalomoh090 on February 04, 2018, 10:27:43 AM
How can I lend bit coin and how can I know scam link


Title: Re: Lending Subforum Intro & Scam Trends
Post by: linhphieudb on March 27, 2018, 09:13:45 AM
The form he says is no different than the lending project: 3. It trick people into lending with great package. When enough people play it will close the website. I was fooled by Bitconnec :( R.I.P  :'( :'( :'(


Title: Re: Lending Subforum Intro & Scam Trends
Post by: investgeek on March 27, 2018, 10:01:22 AM
Hi, What do think about Welltrado (www.welltrado.io)? Their project is related with p2p lending and I was thinking does it has enough potential for completing their ICO? I saw Celcius network already raised 30M usd, do you think Welltrado could do better? ???


Title: Re: Lending Subforum Intro & Scam Trends
Post by: muhammedayo1 on June 20, 2018, 06:05:01 AM
Te rule still remains, do not think you're too careful, many have been scammed thinking otherwise, especially when it comes to Lending ,I've got couple if friends or scammed in this.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: runaklc on June 21, 2018, 02:51:04 PM
Computers solve mathematical puzzles to confirm blocks of transactions on a network. When they succeed, they reward you with bitcoin.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: hoangngan992 on June 27, 2018, 06:09:27 PM

I have been involved in wordmining for 3 months now, how do you rate this project?
Recently it's no longer paying for it. It says it's scam.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Mrkin on June 30, 2018, 03:37:16 AM
This is very good idea


Title: Re: Lending Subforum Intro & Scam Trends
Post by: sarata15 on July 10, 2018, 04:31:33 PM
I think that lending is a risky undertaking
The Internet does not guarantee the return of your money.
so be careful!


Title: Re: Lending Subforum Intro & Scam Trends
Post by: agnesada on July 13, 2018, 06:48:53 PM
ponzi scheme is a fraudulent investing scam, they promise to make a high rates of return with little risk.Read the news to learn more about it before invest Bitconnect is a lesson!


Title: Re: Lending Subforum Intro & Scam Trends
Post by: RomHtK on August 11, 2018, 10:43:21 PM
Hi,
I just read the messages one by one. I am not necessarily new here but I never participated in the forum. I totally understand what you're saying. I might look like a jerk, but I don't understand this collateral system.
People are going to leave a collateral value....to borrow it on the other side !!! why do they bother to borrow when they already have that money? there it is necessary to explain to me I do not understand everything, yet I work in trade, but there it exceeds me


Title: Re: Lending Subforum Intro & Scam Trends
Post by: Helena Ruben on August 21, 2018, 03:11:27 AM
Can hardly believe someone in the right mind in the age of scam would give a loan ...


Title: Re: Lending Subforum Intro & Scam Trends
Post by: farmingbyfaith on October 22, 2018, 03:09:41 PM
Hi Kluge,

Thanks for the great post in 2014 regarding "Lending Subforum Intro & Scam Trends". I have been scammed on bitcoin sites before, so it seems to come with the bitcoin territory unfortunately.

I would be interested to know what kind of update you have to this article seeing it is now 2018.
As new forum member that is interested in a loan to grow my business - I would like to find out how do I find reputable lenders on here, and also put forward a credible loan request.

Thanks
farmingbyfaith


Title: Re: Lending Subforum Intro & Scam Trends
Post by: HopeCoin Support on October 25, 2018, 09:39:46 PM
General good practices:
  • Lending used to only require some sort of "proof of reputation" (anything from a long post history, ID, or Web of Trust stats to a full credit report) from lendees. Due to an exceptionally high incidence of scamming, this is generally no longer the case. You generally MUST put up some form of collateral (usually some type of alternative cryptocurrency, like Litecoin or Quark). This depends heavily on the lender, and physical collateral may also be accepted (motorcycles, watches, PMs).
  • Please refrain from requesting unnecessary "confidence loans" (a loan you don't need, but want to take out simply to show you'll repay). This was an issue a year or so ago, where scammers would take out incrementally larger loans, pay maybe .1BTC in interest, then take off with a 1BTC loan. A history of so-called confidence loans inspire more hesitancy than confidence.
  • This subforum has an exceptionally high amount of trolling. Legitimate lendees are scared away or simply don't care to subject themselves to unjustified degradation. Skepticism is okay, but please try to be civil. Either way - if you request a loan, be prepared.
  • Almost all loans issued in this subforum would be at rates considered to be exploitative in most countries. We're talking about something like 5-15% monthly (there are some more favorable alternatives, such as seeking out the Islamic Bank of Bitcoin). Use short-term loans responsibly, do not use loans for naked market positions or otherwise attempt to arb, and you should only use short-term lending from strangers as an absolute last resort.

Scam trends:
  • There is an ongoing scam issue where "lenders" are saying they'll issue loans for collateral. The "lender" then takes the collateral and disappears. Prevent this by using reputable escrow providers or only dealing with lenders you trust. Keeping in mind that proving available funds isn't necessarily connected to whether or not a lender will steal collateral and disappear, you can also ask a lender asking for collateral to show he has the funds to lend you by signing a message with his private key (most BTC clients have a GUI allowing you verify messages, though they don't all use the same scheme to do this -- if a message fails to verify, you may wish to ask the signer to tell you which client and scheme he used so you can double-check using the same set-up he has ).

Please post new repeat scam tactics here. They will be added to the list.

Very good and important post. Helping people get money is really important, but everything that is given must be repaid.


Title: Re: Lending Subforum Intro & Scam Trends
Post by: petrodigital on October 27, 2018, 01:38:43 PM
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