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If you have a good bticontalk account, but you want to keep on using it for long term. You need some bitcoin to spend now, you can borrow with the account. When you have the funds to return the borrow, you still keep the account.
Well said, in most cases you don't want to liquidate your assets for a small loan so you offer some security for the lender in return. Nothing wrong with borrowing money to finance short term expenses. Having said that, I won't take a loan.. Yes, I agree but the thing is it is not worth too much. The most a BTCtalk account would be worth is probably like 2BTC. Loans like that do not really funnel ideas, businesses and innovation. Loans like that are just a quick fix for a spending desire. Also I could sell my account and rebuy another one UNLESS I have a good reputation among the forum peers and post a lot. If it's just another average sr.member i might as well sell it. |
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Collateral works better in the real world for things like title loans and such, and it's what pawn shops are based on. You give your wedding ring as collateral for a $100 loan and if you default, the pawn shop has way more than $100 to sell. Here online it's not so useful, as most collateral has to be digital. And then there's the issue of borrowers overvaluing what they've got.
I do not really agree with that idea either. Read the above comment. Well, you would not really take that kinda loan unless you were REALLY REALLY poor. Anyways read the above comment. |
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Most of loan requests are a short term period. Would you sell you iPad if you know you are in need of money only for 1-2 days ?
You don't make any sense. I could sell the iPad and make the money back in the same time, it would take me to pay back the loan. So if I needed the loan for 1-2 days I would sell the iPad and make the money back in 20 days. 20 days is the same amount of time it would take for me to pay back the loan and get my iPad back. As for security, I would say it's a ripoff. The whole idea of 110-125% collateral does not make sense. It's stupid no matter which way you argue it. |
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I know I will recieve a lot of criticism for this post, maybe even a few neg reps.
But I believe I have a valid argument here.
Why borrow money when you could just sell the collateral in the first place?
The point of the collateral breaks down here, no matter what you say.
The reason why people borrow money is because they need/want that money. They do not want to sell what they have for the money the need/want.
It does not make sense and might even be a bit stupid to think something like,
"Oh, I need $500 to pay my bills…I have an iPad lying around let me just send that to a guy online and he will give me a LOAN, when he gets the iPad. If I pay him back he will send my iPad back to me!"
It does not make any logical sense whatsoever.
It's like buying $20 for $25.
I think the "no collateral no loan" sticky should be replaced by this post because it just makes more sense.
Maybe, just maybe it would make a bit more sense if the lender asked for <50% collateral but the 110%-115% is just plain ridiculous.
Not trolling here, I am being very serious.
. Well people need money it`s true, but people also dont wish to renounce of their belonging. Its simple and very logical to me. No matter wich example u take u fill find that logic, after using that money they wish back what they give for collateral. Of course many people after some times decide to not take back, so for that u always ask bigger collateral then loan. I dont know why are u confused with this simple thing. I'm not confused. Its just stupid how people take a loan instead of selling their collateral. People can just sell their iPads and use it for whatever pourpose they want, and they would earn back the money they sold that iPad for relatively quickly. I don't think you understand the point of my post please reread. Let me emphasize. It's stupid how people take a loan instead of selling their collateral. |
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I know I will recieve a lot of criticism for this post, maybe even a few neg reps.
But I believe I have a valid argument here.
Why borrow money when you could just sell the collateral in the first place?
The point of the collateral breaks down here, no matter what you say.
The reason why people borrow money is because they need/want that money. They do not want to sell what they have for the money the need/want.
It does not make sense and might even be a bit stupid to think something like,
"Oh, I need $500 to pay my bills…I have an iPad lying around let me just send that to a guy online and he will give me a LOAN, when he gets the iPad. If I pay him back he will send my iPad back to me!"
It does not make any logical sense whatsoever.
It's like buying $20 for $25.
I think the "no collateral no loan" sticky should be replaced by this post because it just makes more sense.
Maybe, just maybe it would make a bit more sense if the lender asked for <50% collateral but the 110%-115% is just plain ridiculous.
Not trolling here, I am being very serious.
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But I can provide 2 Netflix accounts as collateral. Each account sells for about $5.
The Netflix accounts that "sell for $5 each" are often hacked/cracked and as a result often quickly go bad causing the seller to either replace the accounts or decide to run and scam their customers. Plus I am not sure what would stop you from reclaiming the Netflix account after you default on the loan. Read the post again please. I am not sure you understood the last three lines. Also, these are my personal Netflix accounts. I can prove myself through PM to anyone that wants. I'm not being arrogant, please do not post if you are not making an offer. |
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Hi there!
I'm looking to borrow $5 worth of Bitcoin.
I know I'm a newbie and most people don't trust me,
But I can provide 2 Netflix accounts as collateral. Each account sells for about $5.
No I do not have alt coins or any other form of collateral.
Please do not comment if you don't want to lend.
Thanks.
Peace.
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Sent PMs still waiting for customers. Contact me on Skype: jmsmith_37
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I have an MSDN account with a few invites available for sale, contact me for more details.
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Guys how do I get my money back?
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What??? you never payed me $30. You only payed $8. That is one lie. Wait two days and I will try to get you the account. I'm in a serious condition. Therefore, I will try to get all the account, for all the customers that bought from me. Give me two days. If you don't receive the account within two days, you can report me to the admin.
You have already been reported. Also I did pay you $30. I have showed proof. I have waited long enough, you have said this numerous times. |
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should've used escrow, but yes it does seem like many people are having the same issue with this seller.
at least you can perhaps open a dispute on paypal since you paid with that method. you probably wont get your money back since paypal doesn't protect buyers for digital goods/services but if he gets enough disputes from all the ppl he scammed then his account might get locked.
He asked me to send the money as a gift, so I am not able to dispute the transaction. |
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What Happened?
This user sells different accounts. https://bitcointalk.org/index.php?topic=881508.0I bought a DirecTV account from him, and he did not give me the account. He has been doing this to many users, as you can see from the comments made on page 2 of his post. Scammer's Profile Link
https://bitcointalk.org/index.php?action=profile;u=399536Payment MethodI paid him through PayPal. Messages Sent to HimUnfortunately I deleted the messages he sent me. I delete messages that are not really that important to me. Amount Scammed0.1048 BTC$30 USD Proof of Paymenthttp://imgur.com/FqZExSaPlease help me guys. It would be very much appreciated. Thanks.
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I am still looking to buy.
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I want to buy a hero account or a full member account.
PM me with price and details.
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I'm willing to buy cracking core invite keys. PM me if you have it.
Thanks.
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I am selling my seven year old Reddit account for $15.
I barely used this account
PM me for more details.
I know I am new here, and people don't trust me so I will be accepting escrow.
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