Bitcoin Forum

I'm interested in offering loans, more as a social experiment than investment. I'm curious if anyone who has *successfully* lent coins (and been paid back) cares to share his/her method with the forum. Much appreciated.

1. Read the threads written by mods about lending activity.
2. Don't loan to newbie
3. Watch reputation and last post of people asking for loan
4. If password has been reset recently, ask for a signed message (account has maybe been hacked)
5. If you want to guarantee your loans, ask for a collateral you will be able to resell :)

Good luck. Full of scammers here :)

I read all the stickies. Still amazed with all the scams for so little. Shows you how difficult it must be living in other parts of the world. Or simply how greedy humans are...

I would suggest lending only with collateral until you have enough experience to confidently say if someone borrowing without collateral is likely to repay or not. Lending money without collateral is very risky and most people do not intend to repay their loans.

There seem to be very few opportunities to lend with collateral unfortunately

Collateral. Trusted escrow holding the collateral. Peace of mind for you and your borrowers.

On a side note, the OP's password was reset recently.

I guess that happens when you are inactive for ~20 months.

You'll get scammed if you do it as a "social experiment" because that implies you won't be careful with your funds. Scammers are everywhere in the Lending section and for the tiniest amounts.

Indeed, I've been living life outside the world of BitcoinTalk... and care just a little about security enough to change passwords every now and then.

Not sure why changing a forum passwords marks an account. I'm much more interested in people selling accounts for BTC. Quite dishonest, IMHO.

Hello,
i would be interrested to apply for such a loan :) check your PM

When someone getting a loan from a Bank they have to do some formalities, like that you have to accept the collateral security, because you dont know the person, also check is the security have value more than what you are paying as loans.. be carefull... lot of scammers.. I say try trading instead of giving money for loans, you can earn more if you are lucky, but risk are not high as you think.. all the best

If there is someone who could help you in this matter it's Definitly Marcotheminer and Muahmmed Zakir , they are the Top lenders on this forum as far as I know (mostly Marco because he is giving loans for a decent amount of time now) .
Now what I think you should do is the following : If you have some decent amount of BTC and you can afford to lose some coins and take some risks you can make Loans with Collateral but you should look on the Trust of the user , it's not like you are going to lend to "red" trust user . If you can't afford to lose any amount of money then simply make sure to accept Loans with decent Collaterals

~ Madness

What are you looking to gain from your social experiment? Whether people will scam you or not? Loaning doesn't really seem profitable or worth the time to me. You gain pittance on interest and all it takes is one person to scam and you're in the red. And then there's the long-con scammers who take out loans just to buy the feedback and then scam you later on for a larger amount after they've built your trust.

Exactly this. There's a link to a paper (thesis?) someone I'll have to dig up that was quite interesting. It reviewed historical data about BTC scams, how they're carried out, and who performed them.

BTC are often compared to fiat currencies such as USD. BTC have no intrinsic value. They're only worth anything because we assign them value. This discussion could go on and on, but suffice to say I'm intrigued with sociology and the history of money, and interested to learn how this entire experiment turns out. The experiment being BTC.

This is not an offer to loan, but a request for opinions from members who have loaned in the past.

Being a newbie with negative trust you're a fine example of the people I expect to meet.

Cash has no intrinsic value either. Everything is only worth something because we assign value to it. Money is just a worthless bit of paper otherwise.

Yes you can check why i got negative trust and you will understand.

I think there will be a big difference between a social experiment and the real thing. For example, how will you collect from people
who don't pay-back their loans from you?

Well that's probably the social experiment. You can't collect money owed if you're scammed but he's hoping that won't happen... but it will.

Precisely. If you want some data for a paper or something, just look at the bunch of people who have previously been scammed inside of the Lending section :-\

Just quoting this with changes above ^^

this guy pretty much summed it up.
IMO i dont think loaning is gonna be profitable unless you make sure to never get scammed.

very favorable loan repayment system flowering :)

if you do not want to get a scammer, every person who borrows must be possessed positive trust a pretty good :)

positive trust isent enough , there's alot of hacked accounts , and sold accounts.

A believe this social experiment will vary in result from one country to the next. Each society has their own idiosyncrasies when it comes to paying off their debts. 

Fact of the Day #76: Did you know it's against the law to collect interest in Muslim countries?

Yes and its followed here[1] and has been in the past[2]


[1] https://bitcointalk.org/index.php?topic=958575.0
[2] https://bitcointalk.org/index.php?topic=358172.msg3846225#msg3846225