Bitcoin Forum

I have been trying to build my miners up but on my fixed income it has been hard. I want to buy a couple of ant miners. I'll pay back at any reasonable rate.

Posted From bitcointalk.org Android App

Collateral?

What kind of collateral. I don't have much.

Anything of value that can be resold easily by the lender and is escrowed/taken by the lender for the loan period in case of defaults. Essentially what your banks require of you when you take out a mortgage.

https://bitcointalk.org/index.php?topic=577765.0

That would be cool if I were in fact dealing with a bank but I can't just put just anything as collateral to just anybody that would be irresponsible and kind of not smart especially for something as volatile as bitcoin. So there has got to be other ways to get a bitcoin loan.

It's also irresponsible and "kind of not smart" to lend you BTC without collateral, right?   :-\

Are you implying that providing you with a loan without anything of value to back the loan would not be "irresponsible and kind of not smart"? If so this is comedy gold.

No what I trying to say is how do I do collateral to some random person. I mean lets say I use my car as collateral what is to stop said person to walk off with my car. There is got to be a more effective way to ensure that this does not happen.

You choose a trusted third party as an escrow.  The person loaning you the coin doesn't get access to your car unless you default.

And where would I find said third party. Its kind of hard to do especially in my area.

Here is a current list of escrows.

https://bitcointalk.org/index.php?topic=108716.0

Those look credible I say with extreme sarcasm. I think I'll just continue doing what I have been doing. At least until there are more better viable option,and when there are more real life trusting options.

They are more credible than you with 15 posts.   ::)

Just FYI - asking for a loan without collateral will get you a negative reputation.

https://bitcointalk.org/index.php?topic=577765.0

Not looking for a loan without collateral. I'm just not going to entrust my belongings that I have worked hard to get to Jo smo without any credible reputation. I was just wanting info. Not a debate about trustworthiness. This is why I only have 15 posts is because people that just talk randomness. Absolutely no help.

If you would read my posts I was wanting to know what collateral I just wanted a trustworthy way of providing that collateral instead of a list in a post from yet another faceless random poster. Hard evidence and facts.

I mean come on if I wanted this level of advice I would have just gone to yahoo answers. At least on yahoo answers you know you are getting advice from a 6 year old that has way too much time on mommy and daddy's computer.

What kind of advice do you want?  This is a bitcoin forum so we do bitcoin loans with collateral.

If you want a "real world" loan, seek advice from a different forum.   :-\

Are you planning on paying back this loan with all the bitcoins you will make from a couple of antminers?

Escrow sites that aren't just posted in a forum sites that have actual review. I mean come on you paste a link of a bunch of usernames with website. What would have been helpful is maybe a post that goes like this. " I have used such and such escrow site and they helped this many thousands or millions of people and here is a bunch of reviews from a legitimate review site."

How ever I am supposed to pay back loan wether it is cash or BTC and I wasn't specifically going to buy ant miners I was just throwing that out as an example. But what ever had real high hash rates that were reliable.

To Vod if you were looking to buy a car would you like me to just give you a list of dealers or would you like me to tell you to go to dealerA cause I bought a car there and they gave me a great car at a great price and it has wonderful reviews by other customers. Or don't go to dealer b I have heard thier cars have nothing but trouble.