Would You Ever Take Out a Loan in Bitcoin?

[pooya87]

Hey Bitcoin Community! Essentially, I would like to know if you would ever consider taking out a loan in bitcoin? If you have previously taken out a loan, please share your experiences! What were the pros and cons, and what would you improve? Thanks 

taken out tons of loans, funded lots of loans. If you're gonna do it , do it through btc-jam or such a service as that with verification. Too many scammers around these days, always need some sort of escrow.

BTCJam aren't securing your loans by a bit. Many members on the site has been creating account using fake ID and their support is non existent. If you are looking for one, look for one that is trusted and can allow the borrower to put something in escrow. ID verifications isn't worth anything.

it is hard to trust anybody anymore these days. i would never give anybody any loan without any collateral no matter how much good history they have got. especially on BTCjam, the trust service and any kind of verification that they have got, is not a 100% grantee that you dont lose money to a scammer.
with collateral at least you know that your money is safe.

[daddybios]

it is hard to trust anybody anymore these days. i would never give anybody any loan without any collateral no matter how much good history they have got. especially on BTCjam, the trust service and any kind of verification that they have got, is not a 100% grantee that you dont lose money to a scammer.
with collateral at least you know that your money is safe.

I personally borrowed the money a couple of times at the other site. Small amounts. I did not know etih people but we talked a lot on the network and have a great rating. I was 100% sure that I give. I knew that they cherish his name and his nickname.
There are times when urgently needed money.
Yes, it is difficult to trust someone, but there are still honest people.

[Abraham waheed]

I recommend https://p2pwallet.cc/link/221740

[Herbert2020]

luckily i have never needed any kind of bitcoin loan and always had enough bitcoin for my usage. but if i ever need bitcoin, i don't think i would consider loaning since it is a lot of pain in the ass to take a loan and pay back with profit.
i might consider giving loans but that also has its difficulties since it is hard to trust people these days.

[RealBitcoin]

I would not go near borrowing Bitcoin. One takes out a loan in Bitcoin in the winter of 2001 - 2012 when Bitcoin was trading around 2 USD and then 2 years later it is worth 1000 USD. I prefer something that depreciates in value such as most fiat currencies when it comes to borrowing.

What if you finance it only in BTC

Sure if you take out 1000000 BTC to buy a car in 2010, then you are now forced to return 240 million $

But what if you dont switch currencies, if all your income is in BTC.


Example:
1)you got a casino which generates a stable & average 0.01BTC/day, but you need for an ad campaign atleast 1 btc.
2)you take out a loan of 1 btc, and make sure the interest nominal+daily debt rate is < than 0.01BTC/day
3)you start the ad campaign, which attracts visitors to your casino, even increasing your daily income to lets say 0.05BTC
4)with your increased income you can now repay the debt easily

Usually a daily debt obligation looks like this:  interest amount/loan duration + sum amount /loan duration , where the interest amount/loan duration  > sum amount /loan duration.

If you can pay back with your increased income the sum amount faster, then the interest rate also shrinks, thus you will need to pay less interest back in total the faster you repay it

I`m talking about variable rate loans
           

[AT101ET]

It's very simple really. I guess it depends what you need it for. Most people tie the value of BTC to the dollar which is kind of problematic. This means that say A is offering a service, when the price of BTC falls relative to the U.S. Dollar, A will then increase the cost of the service in BTC.
Therefore, if B was to borrow some BTC and spend that BTC, it would now be much harder for him o earn of buy the same amount of BTC for a similar price should the value of BTC fall relative to the dollar.
In essence, if you're looking for a small amount then it's not really problematic. However, if you're borrowing quite a significant amount, be careful as a rise in the price in BTC would mean you'd be facing either a lot of work or high costs to buy back the BTC to pay off your loans.

[Naturacoin]

try btcjam it works pertty good.
If you need a loan for trading then just use bitfinex or okcoin and trade on margin.

[torrentheaven]

never ever
the loaner could easily run away with my coins  !

Yeah I don't think it is an good idea to do so. Keep your bitcoins safe as there are many scammers who have their watch on your bitcoins and there are chances that you loose your hard earned coins.

[operrajunk74]

never ever
the loaner could easily run away with my coins  !

Yeah I don't think it is an good idea to do so. Keep your bitcoins safe as there are many scammers who have their watch on your bitcoins and there are chances that you loose your hard earned coins.

Doesn't Sound Great. I think it sounds little wierd to go for loan in bitcoins and it is not the good idea to do so as there is a great level of risk involved in it and we might loose our coins to the scammer and hackers

[nerFohanzo]

luckily i have never needed any kind of bitcoin loan and always had enough bitcoin for my usage. but if i ever need bitcoin, i don't think i would consider loaning since it is a lot of pain in the ass to take a loan and pay back with profit.
i might consider giving loans but that also has its difficulties since it is hard to trust people these days.

It is better to stay away from loan in bitcoins as you never know the end result what would be. And it is for sure that you would loose all your hard earned coins to the scammers and it would be Bread And Butter for them.

[gentlemand]

Hell no. Too risky and totally pointless unless there was something I could only buy with BTC and I HAD to have it.

I would be even less inclined if it was related to trading in any way.

It's yet to be seen whether it can be used in a more established way for loans. I kinda hope not.

[stromma44]

luckily i have never needed any kind of bitcoin loan and always had enough bitcoin for my usage. but if i ever need bitcoin, i don't think i would consider loaning since it is a lot of pain in the ass to take a loan and pay back with profit.
i might consider giving loans but that also has its difficulties since it is hard to trust people these days.

It is better to stay away from loan in bitcoins as you never know the end result what would be. And it is for sure that you would loose all your hard earned coins to the scammers and it would be Bread And Butter for them.

Trading is a better option rather than going for a loan in bitcoin as it sounds risky and meaningless and again the fear factor is always attached with it when it comes to a loan and fear of loosing coins is another factor.

[twister]

Until now I have never taken any BTC loans, never felt the need to, I know a local trader who is always available whenever I need to buy some and I hope it never comes to that I need to take a loan in BTC, I find it embarrassing to ask for a loan honestly.

[TrackCoin]

Actually in the BTC having loaning systems wasn't know before ever anyway its an absolutely fantastic opportunity for clients. For myself I never took loan ever from BTC. was did study public opinions many people are saying about this is gambling and possible to lose as well but this great opportunity if use to investment in so many oprogressive coins and its possible to do wonderful business very much easeasier. Like this great opportunity probably not should use in gambling way its an opportunities which is can change such a dreams full of future.

[Amph]

luckily i have never needed any kind of bitcoin loan and always had enough bitcoin for my usage. but if i ever need bitcoin, i don't think i would consider loaning since it is a lot of pain in the ass to take a loan and pay back with profit.
i might consider giving loans but that also has its difficulties since it is hard to trust people these days.

It is better to stay away from loan in bitcoins as you never know the end result what would be. And it is for sure that you would loose all your hard earned coins to the scammers and it would be Bread And Butter for them.

this is why you ask for collater first, otherwise they can just fuck themselves, there is no other way to do a correct loan

and this is why loan is pointless for the applicant, he can just sell/rent his collater, to have the money he need

i could agree that there are, maybe cases where a loan would be mandatory, if you need it for an urgency and you can't sell or rent because you need the money asap

[kpitti]

I provide a loan here and I took collateral - all went ok and I got repayment in time as agreed. We used Escrow.
I did not take loan yet, but never say never  

Out of this forum I provide some loan and I am still waiting for repayment. This is lesson.

I think to took and provide loan using BTC is great opportunity.

[iram66680]

I personally feel great about the idea of taking loans. The loans carry much more risk due to Bitcoin nature as it is pseudonym. However, with enough background searching around the forums, the risk would be reduced marginally. You can always give no collateral loans for above certain rank and post quality.

[Daniel91]

I don't think this is good idea.
With loans in BTC there are a lot of problems.
Such loan is not regulated by law, can not apply in the tax return, bitcoin is not used officially in my country etc.
If I can't pay back to the bank, I'm legally protected by the state, and can apply for financial help.
If I can't pay back loan in BTC, who can help me?
No, I would never use loan in Bitcoin.

[thebenjamincode]

in my opinion
its hard to lend money using bitcoin because its online and the anonimity of the user is high

but the good part is
its an easier way to loan money rather than loaning from banks

[deluxeCITY]

Yeah. I would take out a loan in btc if I needed it. I would only take the loan to convert the btc to fiat though.
I would then use the fiat loaned to me to pay whatever I needed the loan for in the first place.
To replay the loan I would just buy btc with fiat and send the btc back.