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I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?
So your 800 BTC only cost about $56. If I were you I would even bother to think of way to loan it just to obtain little interest like 2-4% per year- the risk is too high. Convert half into cash and hodl the other half. Use the cash for a holiday or just keep the cash in the bank for the tiny interest (hopefully it is not negative interest in your country).
I think it's better if the cash he got, he uses to buy his necessities such as food, clothes or house, anything a human needs.
and maybe loaning it is not good idea
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