I see all of this loans asking for repayment in BTC

[FFrankie]

I do not understand why people loan, or agree to loans where the loan isn't a fixed monetary sum. Lets say I was applying for a loan like this (which is the format most people follow when asking for a loan)

Loan: 1 BTC
Repayment: 1 week
Interest 10%
Repaying 1.1 Total.

But lets say when you lend me the BTC price is $100. But in that week, BTC raises dramatically to $200. This would mean I am paying you back $110 more.

Or Vise versa

Loan: 1 BTC
Repayment: 1 Week
Interest 10%
Repaying 1.1 Total

BTC price at loan: $100
BTC price in one week: $50

So my question is why don't people ask/lend/repay in terms of monetary value and not a numerical BTC number.

[FFrankie]

On a side note,

Applying for a loan


Loan amount: .1 (or about $22)
Repayment: 2-3 Weeks
Interest: 10%
Collateral: Paypal
Payback: $24 worth of BTC


EDITED: DO NOT NEED THE LOAN ANYMORE.

[lihuajkl]

We are here bitcoin community because we have faith in Bitcoin's potential. Not due to the high volatility of its price, we would dump bitcoin holding!

[waterpile]

On a side note,

Applying for a loan


Loan amount: .1 (or about $22)
Repayment: 2-3 Weeks
Interest: 10%
Collateral: Paypal
Payback: $24 worth of BTC

WTF, there people who are providing loans why not ask there instead of posting it here.

[doggieTattoo]

On a side note,

Applying for a loan


Loan amount: .1 (or about $22)
Repayment: 2-3 Weeks
Interest: 10%
Collateral: Paypal
Payback: $24 worth of BTC

Paypal is not valid collateral.

I also do not see the point in offering to pay back in terms of paypal if you are giving paypal as collateral. Wouldn't this essentially be the same as selling your paypal

[FFrankie]

My payback would be in BTC. the paypal is just collateral. But Ive bought almost 3k coins since I joined. I thought that would be good enough for a $20 loan.

[doggieTattoo]

I think your best bet would be to look into borrowing money from one of the people who you have traded with in the past. They would be the most likely ones to trust you enough to lend that much to you

[FFrankie]

We are here bitcoin community because we have faith in Bitcoin's potential. Not due to the high volatility of its price, we would dump bitcoin holding!

If you dumped btc then wouldnt that just drive the price down more? Just two years ago this was only worth about $20 per coin.

[shorena]

I do not understand why people loan, or agree to loans where the loan isn't a fixed monetary sum. Lets say I was applying for a loan like this (which is the format most people follow when asking for a loan)
-example-
But lets say when you lend me the BTC price is $100. But in that week, BTC raises dramatically to $200. This would mean I am paying you back $110 more.
-another example-
So my question is why don't people ask/lend/repay in terms of monetary value and not a numerical BTC number.

Because some of us do not care about the value in $, € or any other goverment issued currency.

-snip-
the paypal is just collateral.

How is "the paypal" collateral? Could you provide some details? Money transfered via PP? The PP account?

But Ive bought almost 3k coins since I joined. I thought that would be good enough for a $20 loan.

If you have 3k BTC why do you need a asked for a loan for 0.1?

[FFrankie]

I do not understand why people loan, or agree to loans where the loan isn't a fixed monetary sum. Lets say I was applying for a loan like this (which is the format most people follow when asking for a loan)
-example-
But lets say when you lend me the BTC price is $100. But in that week, BTC raises dramatically to $200. This would mean I am paying you back $110 more.
-another example-
So my question is why don't people ask/lend/repay in terms of monetary value and not a numerical BTC number.

Because some of us do not care about the value in $, € or any other goverment issued currency.

Yeah but when doing loans, you obviously care about the ROI

-snip-
the paypal is just collateral.

How is "the paypal" collateral? Could you provide some details? Money transfered via PP? The PP account?

The money would have been transferred to whoever

But Ive bought almost 3k coins since I joined. I thought that would be good enough for a $20 loan.

If you have 3k BTC why do you need a asked for a loan for 0.1?

Because I needed slightly more