So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!
As long as you will be providing secure loans here, you can sart getting profits with your microloans. Just follow the No collateral no loan policy of the forum so you can be safe from future scam attempts.
It's best if you start with microloans for short time loans like a few days or max weeks and get a % of interest.
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