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GannickusX (OP)
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June 14, 2015, 02:52:19 PM |
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I see some users with positive trust or with a lot of good ratings even if they are on the untrusted feedback becayse they take loans. What are these guys using the loans for? Im not going to name anyone but i have seen someone taking around 10 loans in the last 2-3 months. Normally when you take a loan is because you really need that money to either buy something or invest in somethinf, taking loans every 2 weeks not worth more than 30-50$ its weird isnt it? It just makes me believe that they are doing it to get trust or to gamble, i dont see any other reason. Any opinions? I dont know if this is the right section
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"Governments are good at cutting off the heads of a centrally
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achow101
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Activity: 3388
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Just writing some code
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June 14, 2015, 03:14:56 PM |
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A lot of what I have been seeing is to pay a bill or something periodic but the loanee doesn't receive his paycheck until after the bill's due date. I think that some of this is BS and that the real reason is to be taking out a rep loan to gain reputation and positive trust.
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iram1068
Member
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Activity: 118
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June 14, 2015, 04:03:13 PM |
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I see some users with positive trust or with a lot of good ratings even if they are on the untrusted feedback becayse they take loans. What are these guys using the loans for? Im not going to name anyone but i have seen someone taking around 10 loans in the last 2-3 months. Normally when you take a loan is because you really need that money to either buy something or invest in somethinf, taking loans every 2 weeks not worth more than 30-50$ its weird isnt it? It just makes me believe that they are doing it to get trust or to gamble, i dont see any other reason. Any opinions? I dont know if this is the right section
Some is for gambling and some is for paying something which is due before they get some cash i guess |
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GannickusX (OP)
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June 14, 2015, 04:23:48 PM |
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I see some users with positive trust or with a lot of good ratings even if they are on the untrusted feedback becayse they take loans. What are these guys using the loans for? Im not going to name anyone but i have seen someone taking around 10 loans in the last 2-3 months. Normally when you take a loan is because you really need that money to either buy something or invest in somethinf, taking loans every 2 weeks not worth more than 30-50$ its weird isnt it? It just makes me believe that they are doing it to get trust or to gamble, i dont see any other reason. Any opinions? I dont know if this is the right section
Some is for gambling and some is for paying something which is due before they get some cash i guess Loans for gambling is just as bad as taking loans to build rep, they are dangerous, you obviously have no guarantee when someone takes a loan for gambling and unfortunately a lot of people is giving loans without collateral which only leads to more possible scams. |
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ajareselde
Legendary
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Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
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June 14, 2015, 05:40:19 PM |
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I see some users with positive trust or with a lot of good ratings even if they are on the untrusted feedback becayse they take loans. What are these guys using the loans for? Im not going to name anyone but i have seen someone taking around 10 loans in the last 2-3 months. Normally when you take a loan is because you really need that money to either buy something or invest in somethinf, taking loans every 2 weeks not worth more than 30-50$ its weird isnt it? It just makes me believe that they are doing it to get trust or to gamble, i dont see any other reason. Any opinions? I dont know if this is the right section
Most of it is fake, where they don't even need the loan, but want to get positive feedback by repaying the loan (i guess more than 80% of the loans is like this) Some people offer collateral in form of their account, and then they just don't repay, and go away to their another alt account. And then there are real loans, where people need it for things they don't currently have the money for. cheers |
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gentlemand
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Activity: 2590
Merit: 3013
Welt Am Draht
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June 14, 2015, 05:50:50 PM |
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The loan section on here is an endless mystery to me.
If you have LTC or whatever alt as collateral, why don't you, er, sell it and not require to pay someone interest? It takes a few seconds on most exchanges.
Why would any lender accept an alt as collateral that could go up in smoke at any moment?
I think there must be a shit ton of unwritten rules that I'm not privy to.
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DailyModo
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June 14, 2015, 06:18:17 PM |
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The loan section on here is an endless mystery to me.
If you have LTC or whatever alt as collateral, why don't you, er, sell it and not require to pay someone interest? It takes a few seconds on most exchanges.
Why would any lender accept an alt as collateral that could go up in smoke at any moment?
I think there must be a shit ton of unwritten rules that I'm not privy to.
if you sell your altcoin then you lost it but if you put give it collateral for loan then you get it back after you repay and during this time if value of the altcoin rise then you make profit also but if you sell it then you won't able to take profit from price increase of that altcoin. |
Betting on esports with crypto's and steam items has never been easier. CONTACTdailymodo@gamebet.gg @GamebetGg |
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ajareselde
Legendary
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Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
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June 14, 2015, 06:46:27 PM |
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The loan section on here is an endless mystery to me.
If you have LTC or whatever alt as collateral, why don't you, er, sell it and not require to pay someone interest? It takes a few seconds on most exchanges.
Why would any lender accept an alt as collateral that could go up in smoke at any moment?
I think there must be a shit ton of unwritten rules that I'm not privy to.
1. People have altcoins because it is their investment, and they dont want to sell it, and/or are scared that the altcoin will increase in price. 2. Lender accepts altcoins as collateral, but usualy it takes about 120% counter value, and if it drops in price, under pre arranged rule, lender reserves the right to sell collateral before loan expires to protect his interest. But that doesnt happen as often as one may presume. cheers |
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GannickusX (OP)
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June 14, 2015, 07:12:29 PM |
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The loan section on here is an endless mystery to me.
If you have LTC or whatever alt as collateral, why don't you, er, sell it and not require to pay someone interest? It takes a few seconds on most exchanges.
Why would any lender accept an alt as collateral that could go up in smoke at any moment?
I think there must be a shit ton of unwritten rules that I'm not privy to.
Well i saw a lot of people saying that you do that when you think the price of that altcoin is going to increase and you want to buy more but to make that profitable you would need a big loan not 0.05 btc loans, somethig like 1-2 btc to be able to gain profit after fees and you dont know for sure how much the price will increase or if will increase at all, overall its a bad decision, back on my topic, i still think 90% of people who takes loans are either scammers, potential scammers or building rep |
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Amph
Legendary
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Activity: 3206
Merit: 1069
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June 14, 2015, 07:19:36 PM |
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this is one of the reason why you can't trust no one, even trusted people, because some of them are building their trust like this, to scam later, there was some cases of this
i see also numerous person doing the same kind of trade with the same trusted guy, another ploy for building fake trust
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Astargath
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June 14, 2015, 07:47:38 PM |
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this is one of the reason why you can't trust no one, even trusted people, because some of them are building their trust like this, to scam later, there was some cases of this
i see also numerous person doing the same kind of trade with the same trusted guy, another ploy for building fake trust
Thats why i never trust anyone that has taken loans unless its a really big loan but still, when you take the loan you are not loosing anything and you cant lose anything so why should that person be trusted? You have to be really careful with the trust system and i feel a lot of people trust someone else just because they see green trust or trust at all |
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AceWallen
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June 15, 2015, 12:57:35 AM |
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there's no doubt that a lot of it is simply padding trust. that's why, above a certain amount (.5-1 BTC) i would use escrow regardless of trust, because it really isn't that difficult to get a green trust account. people are definitely gaming the system.
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ajareselde
Legendary
Offline
Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
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June 15, 2015, 01:51:41 AM |
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there's no doubt that a lot of it is simply padding trust. that's why, above a certain amount (.5-1 BTC) i would use escrow regardless of trust, because it really isn't that difficult to get a green trust account. people are definitely gaming the system.
You can also think of it this way; hero account with some trust makes about what? 0,5 btc or so ? Well, then make sure that active deals of that person, plus your deal if youre sending first; that they dont exceed the 0,5 btc pricetag that account can have on marketplace. I doubt someone is going to scam someone for amount lower than what he can get for the account.. But you are right regarding the escrow; whenever you can, you should use it; better safe than sorry. cheers |
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Astargath
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June 15, 2015, 05:28:54 AM |
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there's no doubt that a lot of it is simply padding trust. that's why, above a certain amount (.5-1 BTC) i would use escrow regardless of trust, because it really isn't that difficult to get a green trust account. people are definitely gaming the system.
Yep, always use escrow but you should always ask for a signed message from the buyer/seller and the escrow since those accounts can be sold, i doubt a super trusted escrow account would be ever sold but someone with a little bit of green trust yes, i have seen many. |
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chennan
Legendary
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Activity: 1316
Merit: 1004
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June 15, 2015, 09:17:51 AM |
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there's no doubt that a lot of it is simply padding trust. that's why, above a certain amount (.5-1 BTC) i would use escrow regardless of trust, because it really isn't that difficult to get a green trust account. people are definitely gaming the system.
Yep, always use escrow but you should always ask for a signed message from the buyer/seller and the escrow since those accounts can be sold, i doubt a super trusted escrow account would be ever sold but someone with a little bit of green trust yes, i have seen many. Nowadays lenders are always careful to issue out loans. The will check the loanee's reputation, posting history, loan requesting record, etc, to minimize the risk! And some rules are alway followed by them, such as "no collateral no loan for the low member users", collateral selection, reputational escrow preference etc. |
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Amph
Legendary
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Activity: 3206
Merit: 1069
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June 15, 2015, 10:42:08 AM
Last edit: June 15, 2015, 02:24:03 PM by Amph |
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this is one of the reason why you can't trust no one, even trusted people, because some of them are building their trust like this, to scam later, there was some cases of this
i see also numerous person doing the same kind of trade with the same trusted guy, another ploy for building fake trust
Thats why i never trust anyone that has taken loans unless its a really big loan but still, when you take the loan you are not loosing anything and you cant lose anything so why should that person be trusted? You have to be really careful with the trust system and i feel a lot of people trust someone else just because they see green trust or trust at all the most legit guy is probably the one that have the trust, that come from many different things(trading, selling stuff, helping someone ecc...), and from many different users, i'm not saying that it is trustable 100%, but it is more trusted than others, from a logical point of view |
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H.W.Z
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June 15, 2015, 12:23:50 PM |
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this is one of the reason why you can't trust no one, even trusted people, because some of them are building their trust like this, to scam later, there was some cases of this
i see also numerous person doing the same kind of trade with the same trusted guy, another ploy for building fake trust
Thats why i never trust anyone that has taken loans unless its a really big loan but still, when you take the loan you are not loosing anything and you cant lose anything so why should that person be trusted? You have to be really careful with the trust system and i feel a lot of people trust someone else just because they see green trust or trust at all the most legit guy is probably the one that have the trust, that come from many different things(trading, selling stuff, helping someone ecc...), and from many different users, i'm not saying that it is trustable 100%, but it is more trusted then other, from a logical point of view Good points! I just want to add one more point! The level you trust any member level of account should be limited no over than specific amount of bitcoin, which shouldn't be over the value of the account! Then there is less chance that the users will run away with the money! |
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Clegg
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June 15, 2015, 12:54:26 PM |
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I think most people taking out such loans do so for rep building. If someone is obviously taking out such loans all the time you could leave a neutral feedback of your findings or opinion as I think it is suspect when people do this.
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Astargath
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June 15, 2015, 02:24:49 PM |
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I think most people taking out such loans do so for rep building. If someone is obviously taking out such loans all the time you could leave a neutral feedback of your findings or opinion as I think it is suspect when people do this.
Yeah thats a good idea, maybe make a limit on how many loans a person can take, as a rule? Like not more than 3 loans per month, seems reasonable to me. Obviously this would be like an unofficial rule but it would allow trusted members to leave a red trust if you take too many loans. |
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jdebunt
Legendary
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Activity: 1596
Merit: 1010
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June 15, 2015, 02:50:47 PM |
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I think most people taking out such loans do so for rep building. If someone is obviously taking out such loans all the time you could leave a neutral feedback of your findings or opinion as I think it is suspect when people do this.
Sounds very plausible if you ask me. People are allowed to do some shady business over here at times, but as long as no rules are being broken, there isn't much you can do  |
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