Bitcoin Forum

Loan amount:
Loan term (return date):
Interest rate:
Return amount (how much will you send back):
Collateral:
Address (where to send if application is approved):
Chain:

So: someone gives you $200 collateral. Out of that $100, you give him $100 as a loan. Then he has to pay you back $120, after which you give him $200 again?
You're either really dumb or really smart. Why would anyone pay you to be able to use half of their own money? I've seen a similar scheme before, and I can't figure out why.

Cash secured loans are used to prevent large losses and help businesses or individuals avoid bankruptcy. Not that anyone will go bankrupt on a 100 USD loan but that's why they exist, I am experimenting here and will keep this going for as long as I have enough data for one of the products we plan on offering to our private clients.

Reasons why cash secured loans are a thing:
1. Build credit
2. Better loans in the future
3. Keeps collateral intact as it can be slowly paid back.

It's easier when the collateral is used to slowly pay the loan in case of a failure where the original investment is lost. Collateral can also be topped up or stay intact while loan is slowly paid over a specified period of time. Hope this was clear.

I don't know where you've seen this before but they probably had the same idea in mind.

LOL
It doesnt makes sense at all.  
The loanee already have a stablecoin so why do he need to loan while he already have a stablecoin. It would only make the loanee more stupid than this lender. It would be make sense if then collateral are altcoins that are worth more than what he want to loan.

https://www.thebalance.com/cash-secured-loans-315598

I don't know if you are truly new here or not, but if so I suggest you spend a little time familiarizing yourself with the merit system and the trust system before offering non-collateralized loans.

---

No mention of escrow?  Do you expect members to send the collateral directly to you?  As a newbie you're going to have a hard time convincing people you're not here to scam them for their collateral.  Just a warning; some trusted members don't take too kindly to that sort of thing and you may end up getting red-tagged for it.  Even among the reputable lenders here who've been at it for a long time, only a few are trusted enough to hold collateral for their own loans.

And, as LoyceV mentioned, your collateral requirements are ridiculous.  First off, what you're asking for is 200% collateral, not 100%.  Most lenders here ask for about 120%.  Secondly, there's no point in a borrower taking your offer.  The purpose for a borrower taking a collateralized loan is because he's bullish on the coin he's holding but needs funds for something else.  For example if I was holding a bunch of XMR because I think it's going to pump sometime soon, but I need BTC to pay a bill, I could send the XMR to a trusted lender or escrow, borrow what I need, pay back as agreed and get my XMR back.  Borrowing the same currency only has disadvantages, and no advantages.

---

If you're careful and scrutinize your borrowers thoroughly you might be able to make some money on no-collateral loans, but I think you're collateralized loan offer needs some work.

Hi, thank you for the suggestions. Escrow is available and I will add it to the topic like I did with my other one here (https://bitcointalk.org/index.php?topic=5396027.0). I don't expect people to send me their money with no escrow so thank you for reminding me. I'm using localcryptos as escrow but I'm willing to go through any reputable member of the community.

As for the requirements, they will be edited in the very near future. I understand that as is, this isn't a working system. Thanks again DireWolf, I appreciate it.

Like I previously said, these type of loans are given to prevent business or individuals from going bankrupt. If you invest that money and lose it, what would work better for you, being able to pay it monthly in small increments or get a 1 million (example) dollar hit all at once?

Read here for more: https://www.thebalance.com/cash-secured-loans-315598

Topic will be edited, already have a plan in mind.

I had no idea why everyone was going so hard on you until I read the thread a second time and saw point b). :D

Why don't you also accept liquid trusted coins (BTC, ETH...) as collateral? The user keeps his $200 BTC, doesn't have to sell it (tax) and can use the stablecoin for a short period of time (i.e until he gets his job's pay).

Will do that, when I posted the topic I forgot all about Bitcoin not having too much of a price difference because of market conditions, thus affecting the collateral. It will be edited today with the new rules/requirements.

Updated.

First collateral-free loan ever was sent last Friday! We are officially in business baby!

show the clear evidence here, also your borrower should announce and confirm the loan. Otherwise, no one will believe you.

Yes sir! We did it through a PM and this topic didn't exist a week ago but here you go:

https://bitcointalk.org/index.php?topic=5402496.0

I'm sorry that I will be the one to point this out, but just because you say it doesn't mean that's the truth. Plus, there is no reply from mnightwaffle to your post that confirms taking a loan from you. You will need, at least, the confirmation here from mnightwaffle or the PM's that prove your deal/ word.

Hey, I don't know how to make it so when you open the link it sends you to the reply but here's a screenshot:

https://imgur.com/a/0p9Xheh

Let me help:

alterra57 first posted this in mnightwaffle's loan request thread:


But TriNinja beat him the punch and sent the funds before mnightwaffle could respond.  Mnightwaffle reopened his request as he needed money for car repairs, and later posted this:


That response makes it fairly clear that mnightwaffle did in fact get a loan form alterra57

Thank you very much DireWolfM14, I appreciate it a lot.

Hallo Alterra57,

As requested via PM , this is my loan application

Loan Amount: 150 Usdt
Loan Purpose: Personal
Loan Repay Amount: 172 Usdt
Loan Repay Date: June 30 or earlier
Type of Collateral: None
TRC20 - USDT address: TFqN1GmbXtQNZu1BsuhrExzpKLszXBfQ4U

Sent 150 USDT. TxID: a683dd6b1d9b887f804b6fa7fa9b9572bd26c122633481c841dacda1ce91a243

Please send back to (TRX nework): TPVwtc2ZEo35QE9MCUciKUqbSfCLUhWT6G

Received! Thank you

Hi Alterra57!
Loan amount: 100 USDT
Loan purpose: Personal
Loan Repay Amount: 101 USDT
Loan Repay Date: July 20 or earlier
Type of Collateral: None
TRC20 - USDT address: TWBLAWLuPs7qzwqMajLgcc5jxyjVGTiUkB

Hi.

I can't approve this for 2 reasons. Your account doesn't fulfill the requirements and you failed to use the application format posted by me.

Repaid ( just a bit faster as usual)

ed6e5de9d62142df9c239246b0e4be270449f373546679196ebd4ad932d36d11

Thank for support!

Can confirm, early return. Will give again in the future if requested.

Hallo Alterra57,

This is my new loan application

Loan Amount: 195 Usdt
Loan Purpose: Personal
Loan Repay Amount: 220 Usdt
Loan Repay Date: July 8 or earlier
Type of Collateral: None
TRC20 - USDT address: TFqN1GmbXtQNZu1BsuhrExzpKLszXBfQ4U

Approved. Sent 195 USDT (TRC20). TxID: 68b74dbc34662af78caaef1b5f2b52e374125d7a9d2a2821a59589aea2b34999

Please return to: TPVwtc2ZEo35QE9MCUciKUqbSfCLUhWT6G

Received! Thank you

Loan amount: 180$
Loan term (return date): 1 - 08 - 2022
Interest rate:
Return amount (how much will you send back): 200$
Collateral:
Address (where to send if application is approved): TJLzHT2Q6c3raBfJVSKRTGXmdZ8VfAWnvr
Chain: USDT Trc20

Approved. Sent 180 USDT (TRC20). TxID: ef6afde19273447b5871dfadee008a0afb868d67b2660a8d4f84f3e7acad6990

Please return to: TPVwtc2ZEo35QE9MCUciKUqbSfCLUhWT6G

Repaid! Please confirm you have received it. Thank you

0526531e7ef4d932f78b6da0221612c36f02679dc641a48693d6b0834d027fad

Received. Thank you.

Hallo Alterra57,

As discussed in mail, this is my new loan application

Loan Amount: 250 Usdt
Loan Purpose: Personal
Loan Repay Amount: 275 Usdt
Loan Repay Date: July 18 or earlier
Type of Collateral: None
TRC20 - USDT address: TFqN1GmbXtQNZu1BsuhrExzpKLszXBfQ4U

Approved. TxID: 56ea2430aa7ad52362e2c9d5eff37baa9b645d678a28ed03843d50f225057676

Please send back to TRC-20 USDT address: TPVwtc2ZEo35QE9MCUciKUqbSfCLUhWT6G

Repaid! Please confirm you have received the amount. Thank you so much!

7237b31de0124b9beb3bbd4b09b0777385c37201529db01dd67ba16f6091d1c6

Received. Thank you.

Hi Alterra57! I need a loan of $100 for 30 days
Loan purpose: Business
Payment: $105
Type of Collateral: NONE
TRX address: TWBLAWLuPs7qzwqMajLgcc5jxyjVGTiUkB

Denied. Does not meet the requirements.

Partial payment of 105.2$ have been sent to the address mentioned above :
https://www.oklink.com/en/trx/tx/47beb63a88c2e17087ae98f6b66231a73155a2e8da94e7dc687c859f2f0d88cd
Please confirm that you have received the payment.

The rest of the amount will be sent next week or sooner as discussed in PM.

Regards

Confirmed. Said amount has been sent into my wallet.

Thank you.

Hallo Alterra57,

As requested via PM , this is my loan application

Loan Amount: 380 Usdt
Loan Purpose: Personal
Loan Repay Amount: 435 Usdt
Loan Repay Date: August 16 or earlier
Type of Collateral: None
TRC20 - USDT address: TFqN1GmbXtQNZu1BsuhrExzpKLszXBfQ4U

Sent 378 USDT, I hope that's not a problem as the 2 USDT was the fee which I completely forgot to calculate.

txID: de89475ccda9fb462ebc2b4cfb3a835c6e2effa17fa71f8c458df67f8a3b4778

Please send back to: TPVwtc2ZEo35QE9MCUciKUqbSfCLUhWT6G

Hi Alterra57!
Request for a NO collateral loan
Required USDT Amount: $3,000
Estimated Loan 6 years
USDT Address: TWBLAWLuPs7qzwqMajLgcc5jxyjVGTiUkB

Hey, I can't help you.

OP edited. Changed limits.

As stated in our PM , 500 usdt sent back after terms extension  . Please confirm receipt

589e9e8f1d812c463c4f529068eca34c96279d6712fb586a33ea39dfa271558b

Thank you again!

Confirmed. Got a lot more back, will give again in the future.

Hallo Alterra57,

As requested via PM , this is my loan application

Loan Amount: 400 Usdt
Loan Purpose: Personal
Loan Repay Amount: 445 Usdt
Loan Repay Date: September 20 or earlier
Type of Collateral: None
TRC20 - USDT address: TKpHF31x4HmUKQRdbdxjcLfzdZNvKfaPNY

Sent 400 USDT. txID: a48a5b7e15b1e3dc1f1dc07bd5bc8c0763eed37261476745f5c51b89f593333a

Please send back to USDT TRC-20: TPVwtc2ZEo35QE9MCUciKUqbSfCLUhWT6G

Edit: (02/09/2022 06:13 PM), sent an extra 75 USD as requested in PM. txID: 038c82a3d8f66fe620f22e9a55b86e43e8c0972a22a45b5cb737a81102120201

Coupable has sent an extra 69 USD as confirmed through a PM. Adding it here for transparency.

Do you accept domains with on running business as collateral?

Hello, I do not. Process is overly complicated.

Fully Repaid ( added a small tip ) . Thank you again for trust and support me!

dcadf71f33a40277256d7c23a287958d94891fba86f7d3fdf7e4146799b2cd42

Confirmed. Thank you HedgeFx!