Okay first things first. Please do not mind my trust rating. If you look on the reference. I DID IN FACT OFFER COLLATERAL. It was just denied. People should learn how to think and use common sense before they go around giving bad ratings. Anyways.
For this loan I will pay you back in 2 weeks. The interest is 15%. Collateral is things that you can have if i screw up.(Which I wont)
THIS IS WHAT I HAVE FOR COLLATERAL
•Netflix Account
•All of my gmail accounts
•Iphone 5c Pink
•Social Security Number
•I.D.
•Credit Card Account
•Itunes Account
•Paypal Account
•Ipad
Please pick two.
Many of the things you offer as collateral are not valid as one! However, I suggest you to also put pictures of the items - e.g. like your Iphone - so a potential lender - provided he is near you - can evaluate how much is worth as collateral.
What is considered collateral?Collateral is something that can
easily be resold to cover the loan value plus interest should the loaner default on the loan.
- The best collateral is another crypto-currency, such as Litecoin (also written as LTC). Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.
- Small valuable items that can be shipped though the mail - i.e. gold, silver, iphones, etc.
- Large items, such as a motorcycle or guitar can be used if you live close to the person giving you the loan. Try
localbitcoins.comWhat is not considered collateral?-
Items not in hand. Don't trust a user that promises to give you something *when* they default! Tracking numbers only show something has been mailed - it could be an empty box.
-
Future income. You can prove you'll make
xx coins in the next few days, but nothing forces you to send those coins to pay your debt.
-
Identification. So what if they can prove who they are. Are you going to spend more money and time taking them to court on untested legal grounds? You'll probably just walk away, like everyone does. ID is useless.
- Games codes or similar. To verify the collateral you need to use the code, which destroys the collateral. Consider this a purchase, not a loan. (Post in
Digital Goods instead)
- Most new alt-coins or alt-coins that trade for satoshis are not good collateral as they can become worthless overnight.
- Paypal should never be used - they are anti-bitcoin and will rule against you 100% of the time. Escrow can't even help, as paypal charge backs can come over 6 months later!
- Most valuable online accounts can easily be recovered by social engineering (the user contacting support to say they were hacked, and regain control of the account)
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