just keep borrowing larger and larger amounts, perhaps using two accounts to pay each one off, and then one day take out a large loan and split.
A good way to end in jail or lose all your properties.
BTCJam asks for your personal information that will be released to the lending party. He/She in turn will bring you to the small claims court in REAL life.
I think BTCJam or peer to peer lending in general with bitcoin has huge potential, but it just isn't there yet.
It is. To get a loan you have to provide collateral like in real life.
The difference is that with cryptocoins you can get your money in half an hour, in real life... oh well.
If you have altcoins or items of value I can help you.