help me understand something.
if he can not withdraw a reputation loan, then what is the point of getting that loan?
does this mean you take the loan and it just sits there in your account, you can not withdraw and do anything with it but you have to pay back the loan with interest?
what is the point in that?
It is basically giveaway to his loyal investors and only in bitlendingclub on his birthday and he gets reputation points for it, so it is a win-win, so for example if you deposit 100 btc in his reputation loan, you withdraw 102 btc in few minutes and you got a good safe return in few minutes and he gets better credit rating and more people support. He has been taking loans for trading purposes and paying back with interest every time, now the investors have shown great faith in him and have always funded his loans extremely fast and at low rates. So, as a Thank you to his investors, he is basically giving away a few btcs to maintain this relationship with the investors. And such a huge Reputation loan has never been done on Bitlending, so it will be a great marketing strategy for him. |
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Reputation loans are created to increase the credit rating of the borrower. It should be banned and investors are literally helping the user to build up his trust score to fool new investors who judges only based on credit rating.
I think it is just fine, not everyone can take 100 btc reputation loan it is because of credit rating and he has credit rating to receive loans upto 220 btc, all his previous loans were funded in 10 minutes, and he is doing a giveaway on his birthday for his loyal investors  |
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The photo looks really cool, think i will make it as a banner and put it out in the office  |
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The profile of the borrower looks okay to me. Actually he seems to be very ambitious at a very young age, which is good. It does not seems to be a problem in investing few coins. And it would be fun to watch how long will it take for his loan to get fully funded.  Even he is building up his reputation. I takes a lot of times and efforts, but once he defaults once then he completely ruins his repuation. He is unable to take another loan any more. It is like our credit record on which everything is based like issuing mortage, loan etc. I think it is worth a try. He is just 18 years old and very ambitious guy and also a serial entrepreneur, however this reputation loan is just a giveaway for his birthday and these reputation loans cannot be withdrawn. I hope it does well for him |
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I heard that in bitlendingclub there is a thing called reputation loan, where a person requests a reputation loan which he is granted only once per account and he has to pay interest, this loan cannot be withdrawn by the reputation loan seeker but people who have invested in loan get 1% to 2 % return immediately, one of my friend is planning on giving away 1 to 3 btc in the form of interest for taking a 100 btc reputation loan as he had taken about 45 big loans and repaid all perfectly and has 500+ positive review and no negative reviews, so it is basically free money for the investors, anyone ever done this, and what is it like?, i am a bit excited as he is my friend and how things will turn out to be, want your opinions on this.
Seems pretty legit. Thanks for bringing it to my notice, I looked into him, went through his listings and comments of the investors and he has outstanding reviews. I'm very interested. Keep me in the loop about this please Thanks I think this is the opposite of legit. This could not be more of a lon con where he builds up trust from others in order to eventually be able to scam a larger amount. The question is when he will eventually scam. From the looks of it he has paid out a little under 3 BTC worth of interest, yet he is routinely able to take out 5+ BTC worth of loans, so he could simply take out a 5 BTC loan, withdraw the funds and realize 2 BTC worth of profit, I know the OP says that reputation loan "cannot be withdrawn" however I am reluctant to believe this. Yes, the reputation loans cannot be withdrawn , you can read here https://bitlendingclub.com/content/help, he usually takes 5 to 10 btc loans and the loans fill-up in 10 minutes and has paid back early on time.  I'm familiar with bitlendingclub, been investing for a while, and yeah reputation loans are provided by the platform but a single one for a single user as far as I know.
Also, there are not a lot of people with 500+ reputation points, so if you're certain about it being a reputation loan from a user with such great reputation, it could be a decent opportunity.
You can check out his profile here https://bitlendingclub.com/user/index/id/5333/aliraheman Maybe you should also check out the list of IP addresses used to access his account https://bitlendingclub.com/user/ips/id/5333/alirahemanFrom the looks of it his account was accesses from a number of IP address ranges from a number of countries, none of which are known IP addresses of proxies according to bitlendingclub  About the ip, i think it is because he travels the world a lot, today he is in Germany, next day in the US, next day in Dubai |
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I'm familiar with bitlendingclub, been investing for a while, and yeah reputation loans are provided by the platform but a single one for a single user as far as I know.
Also, there are not a lot of people with 500+ reputation points, so if you're certain about it being a reputation loan from a user with such great reputation, it could be a decent opportunity.
You can check out his profile here https://bitlendingclub.com/user/index/id/5333/aliraheman |
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That looks to me more like investment than it is a loan.
I find it best to keep things simple; need a loan, take one - want interest, give loans. Reputation will build itself eventually, unless someone is obviously taking loans without the need for one (buying trust)
cheers
It is buying trust and also he is giving away Bitcoins because of his birthday, he is doing it in on his birthday and he is the guy with the second highest trust score out of 5000+ users there i think, basically it's a birthday give away sort of thing for his investors, who have really funded his loan extremely quickly something like that because that actually was the initial reason why he planned to do it, it was actually an incentive for the investors and then realized it's marketing worth |
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I heard that in bitlendingclub there is a thing called reputation loan, where a person requests a reputation loan which he is granted only once per account and he has to pay interest, this loan cannot be withdrawn by the reputation loan seeker but people who have invested in loan get 1% to 2 % return immediately, one of my friend is planning on giving away 1 to 3 btc in the form of interest for taking a 100 btc reputation loan as he had taken about 45 big loans and repaid all perfectly and has 500+ positive review and no negative reviews, so it is basically free money for the investors, anyone ever done this, and what is it like?, i am a bit excited as he is my friend and how things will turn out to be, want your opinions on this.
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There are a lot of people that want to get to Mars and if Mars One shows they are capable of organizing the whole thing they will get a ton of donations from many companies. No one company will be able to get to Mars. It will require the cooperation of many companies and probably governments.
Space X is the major competitor here, lets see who will make it first.  |
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we aren't there by any means, a trillion is 1K billion in the short scale, and we are still at a mere 4B
we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
an interesting thought by Winklevoss twins that Bitcoin as a payment system will surpass visa+mastercard+amex+ other major payment systems= 400 Billion$ and be in Trillions of dollars https://youtu.be/uEIPzl4Bx5I?t=137 , so primarily it is a point of time when people start switching from these payment processors to Bitcoin, it should reach the average Joe's throughout the world from a Hotdog seller in the US to a peasant in India., thats the time probably Bitcoin will reach a trillion$ market cap. I wouldn't place much faith in WW brothers, they seam to be easy on words in most cases, but on this one ill give them credit. There's no reason why bitcoin shouldn't replace most, if not all other alternatives. It's just a matter of time and struggle it will take to get there. But i must say, expecting prices of 60k+ is a very far dream, and even if it is to happen, it wont be anytime even remotely soon. cheers marketcap of bitcoin is always up and down, the right now trend looks like what had happened in 2012 to 2014, there can be a same boom which had happened when price crossed 1k$ https://blockchain.info/charts/market-cap?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= , this time it should be even better, but it will take time to get to 1 Trillion$ market cap. |
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we aren't there by any means, a trillion is 1K billion in the short scale, and we are still at a mere 4B
we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
an interesting thought by Winklevoss twins that Bitcoin as a payment system will surpass visa+mastercard+amex+ other major payment systems= 400 Billion$ and be in Trillions of dollars https://youtu.be/uEIPzl4Bx5I?t=137 , so primarily it is a point of time when people start switching from these payment processors to Bitcoin, it should reach the average Joe's throughout the world from a Hotdog seller in the US to a peasant in India, thats the time probably Bitcoin will reach a trillion$ market cap. |
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Good news, mastercard is getting worried about Bitcoin. http://www.coindesk.com/mastercard-digital-currencys-risks-outweigh-the-benefits/The "current blockchain process" doesn’t provide sufficient transparency, it says, and regulation should require all transactions to go through regulated and transparent administrators, which would be supervised by relevant domestic, European or global authorities. Good luck with that Mastercard. You can try to get your politician friends to regulate a protocol but I won't comply. It is good publicity for Bitcoin, let them do it |
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hello,
I like to know where I can create a secure bitcoin wallet where I can keep my bitcoins for years, when I see websites that offer bitcoin wallet, I fear that one day the site no longer exists, and I lose all my bitcoins.
thanks.
Use cold storage to store your Bitcoins, Bitcoins on websites are never a safe place to keep your Bitcoins. |
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I took the plunge. I bought 1 btc today from a coworker who has been telling me about Bitcoin since 2012.
Just wanted to say Hi, HI, and introduce myself.
Is there anything here I need to know, what a stupid question.. I need to know everything.
Is there a good place to go for a all about bitcoin lesson?
CT
Welcome to the world of Bitcoin, be safe when you trade Bitcoins always use escrow. |
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Thats pretty cool, NASA's 'New Horizons' spacecraft will explore the planet Pluto, it is an extraordinary event that is going to unfold in the days to come, first time we are going to explore Pluto and its moons, NASA even made an awesome trailer about their mission https://www.youtube.com/watch?v=aky9FFj4ybE |
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It is a long way but we are getting there, i expect it to happen within 15 years along with world-wide mass adoption of Bitcoins, what do you guys think?
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I would reduce the deforestation and help people get more practical education especially in poor and violent areas where kids are forced to take jobs because they don't get proper education, practical education in the sense making them learn about Cryptcurrency and Bitcoins, getting them hands-on internship etc, I think education for knowledge to earn money is way out of poverty which is one of the black-mark in our society, would love to get your opinions and thoughts on how you would impact the world when you are a billionaire.
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Well usually people are mugged of their phones. Usually worth only $700 max  People are really desperate sometimes, when they can't get money to feed their drug habits. I have heard about armed robberies, in which as little as $25 was stolen. That said, the perpetrator is also risking a lot. He faces up to 10 years in jail, or can be killed if the victim is armed. Sometimes drugs make people ignorant of the pending risks. Some people risk a big jail sentence for few dollars, people need to be more safe out there, scammers are getting cleverer and cleverer everyday, so be vigilant and don't fall for scammers and thieves. |
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i have about 1200 Dollar in stocks(savings). should i just move those Money and buy BTC for them instead ? and Hodl for atleast 5 years ?
That can be a wise decision, buy and hold them for 5 years, go for it |
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It must one of those conspiracy theories, can you give valid proofs to support the claims? I buy your story else it is all made up things just designed to get the media outlets more money printing these things. |
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