People taking too many loans?

[Coinshot]

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.

There are no rules about loans, only the ones that the parts agree.

But there are common practices and the trust system.

If you think your altcoin will about to skyrocket and you need BTC now, you can use your alt as collateral and keep most of your profit.

[1714880102]

1714880102

[1714880102]

1714880102

[Malaki]

well there can be another reason beside Gambling and gaining rep, lets say cloud mining like eobot or exchanging curcerys coz sometimes  Priceses go down by 30-40% and ppl try to buy them in that moment (if they think it will increase soon) and then sell them and make profit from it.. i do same thing thats why i think thats the reason (i dont take loans) but if u dont have money at that moment loan is good way

[GannickusX]

well there can be another reason beside Gambling and gaining rep, lets say cloud mining like eobot or exchanging curcerys coz sometimes  Priceses go down by 30-40% and ppl try to buy them in that moment (if they think it will increase soon) and then sell them and make profit from it.. i do same thing thats why i think thats the reason (i dont take loans) but if u dont have money at that moment loan is good way

Bullshit, how come you never have to money then? Taking loans every week means that you dont have money every week for some odd reason? If someone was indeed mining they would profit from it and they would be able to re-invest their own money no need to search for loans.

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.

There are no rules about loans, only the ones that the parts agree.

But there are common practices and the trust system.

If you think your altcoin will about to skyrocket and you need BTC now, you can use your alt as collateral and keep most of your profit.

Thats just really risky and not really profitable UNLESS you are taking a huge loan to be able to buy a good amount of altcoins, taking loans of 0.05 wont help you in that strategy because of the fees, you might end up loosing money or winning, what? 0.0001 satoshis of profit which is shit considering all the time and effort

[LouisVuitton]

They are probably doing it to gain trust like you said.

[maheshmahi]

Many of them take loan and invest them just to get interest on them.
But considering the present economy they should know that loan has no value.

[photon_coin]

If you don't have the btc should be rare when you need to borrow it.

[Amph]

Many of them take loan and invest them just to get interest on them.
But considering the present economy they should know that loan has no value.

the point was , why they are asking for so many loan, if after the first one they could essentially use the their money(that they gave to you) to do their businesss

this could be explained only if for every new loan they need a bigger amount than the previous one, or because they want to increase their trust to scam a big ammount in the end it's a common strategy between scammers

[oxiyusuf]

Many of them take loan and invest them just to get interest on them.
But considering the present economy they should know that loan has no value.

the point was , why they are asking for so many loan, if after the first one they could essentially use the their money(that they gave to you) to do their businesss

this could be explained only if for every new loan they need a bigger amount than the previous one, or because they want to increase their trust to scam a big ammount in the end it's a common strategy between scammers

Well, thinking of each person is different, we would not know the purpose of a person to borrow, if he does not ask the truth. but someone who has earned the trust feedback of loans, may have a goal to cheat, and the best way to avoid it, is to use a trusted escrow

[oiul]

It's just the loaners trying to make a small profit off interest. Of course, there are risks too, like some time ago one guy with a big reputation and age on the forum scammed few hundred users.

[jones techbit]

a lot of  loans are for gambling ,but there could be potential abusers but that is part of the system.

[XinXan]

It's just the loaners trying to make a small profit off interest. Of course, there are risks too, like some time ago one guy with a big reputation and age on the forum scammed few hundred users.

This is not about the loaners but about the borrowers which esentially lose money taking so many loans if they use them for nothing, i really dont understand why people is so interested in building trust, aside from scamming, of course. You can still do business lr trades as long as you use escrow or collateral even with 0 trust

[Kapz786]

I haven't taken any loans myself yet, but I have lend people my bitcoins. Sometime they want to quickly buy something or if their wallet needs btc to make transactions. Many situations can happen, usually I don't ask them. Some time they take a loan to pay back someone else that they owe money to, that might also be the case. Be honest with you, I don't understand them either. 

[Ajatmoralez]

I can't say much about that but according to my personal experience in bitcointalk Some users buy trust to increase trust rating. Request a big loan and flew away
Some people take little amounts of loans from trusted users with green trust. When the user repays the loan Lender leaves a positive trust in it which is basically a easy free trust.
Some users also do trade and use trusted escrow to get extra trust point with totally free and some do currency exchanges of small amount from trusted members

These all are tricks to get cheap trust ratings and to scam someone after getting a cool green trust

So, lenders must take an Escrow of a Stable economic value and should give loans only after watching him/her last posts and trust ( read trust comments too )

If you found anything Suspicious. Just Decline the request because no one wants to risk their bitcoins in fake trusts

Hope this Helps

[XinXan]

I can't say much about that but according to my personal experience in bitcointalk Some users buy trust to increase trust rating. Request a big loan and flew away
Some people take little amounts of loans from trusted users with green trust. When the user repays the loan Lender leaves a positive trust in it which is basically a easy free trust.
Some users also do trade and use trusted escrow to get extra trust point with totally free and some do currency exchanges of small amount from trusted members

These all are tricks to get cheap trust ratings and to scam someone after getting a cool green trust

So, lenders must take an Escrow of a Stable economic value and should give loans only after watching him/her last posts and trust ( read trust comments too )

If you found anything Suspicious. Just Decline the request because no one wants to risk their bitcoins in fake trusts

Hope this Helps

You would probably be wasting your time if you want green trust to scam with a loan because your account would be worth a lot and you wont get any big amount of money even if you have green trust unless you are extremely trusted, at most you can probably get around 0.3 maybe 0.4 with really good trust? I dont think so and your account its still worth around that amount or even more and you can rank it up even more to make it worth maybe even 1 bitcoin depending on your rank

[Ajatmoralez]

I can't say much about that but according to my personal experience in bitcointalk Some users buy trust to increase trust rating. Request a big loan and flew away
Some people take little amounts of loans from trusted users with green trust. When the user repays the loan Lender leaves a positive trust in it which is basically a easy free trust.
Some users also do trade and use trusted escrow to get extra trust point with totally free and some do currency exchanges of small amount from trusted members

These all are tricks to get cheap trust ratings and to scam someone after getting a cool green trust

So, lenders must take an Escrow of a Stable economic value and should give loans only after watching him/her last posts and trust ( read trust comments too )

If you found anything Suspicious. Just Decline the request because no one wants to risk their bitcoins in fake trusts

Hope this Helps

You would probably be wasting your time if you want green trust to scam with a loan because your account would be worth a lot and you wont get any big amount of money even if you have green trust unless you are extremely trusted, at most you can probably get around 0.3 maybe 0.4 with really good trust? I dont think so and your account its still worth around that amount or even more and you can rank it up even more to make it worth maybe even 1 bitcoin depending on your rank

Well first I never use such cheap crappy tricks to increase my trust rating. Even if I have no trust I am trusted in front of many users who know me.
Those green trust are just a show off

What if there is a lot of green trusts but no one knows you. You don't even get a reasonable loan

And about account prices then there are a lot of sr. Member accounts for sale on bitcointalk with the price range of BTC0.15 to BTC0.4

[aakashsangwan]

I think that people take loan to buy bitcointalk accounts and then apply for sign. Campaign. Usually the roi is not more than a few weeks.

[RealBitcoin]

The main problem is if bitcoin price goes up suddenly alot, then how are they going to pay it? They will default.

Now they are not necessarly scammers, but they just cant pay it at higher prices, so its not necessarly a good idea to take a bitcoin loan.

[GannickusX]

I think that people take loan to buy bitcointalk accounts and then apply for sign. Campaign. Usually the roi is not more than a few weeks.

No, i doubt it, i mean sure people take loans to buy bitcointalk accounts but they wouldn´t take loans so often, with more than 1 account is really hard to post regulary and keep the posting quality high, as some people said previously, the only real reason someone could have to take loans regulary is to pay for something monthly, that would still be weird because if they dont have the money to pay for it but then they have the money to pay the loan back means that either they get real money later or they are scamming or trying to increase the reputation here.

[hashmaster1]

Well sometime like me i got hack lost everything and then i needed a loan just to get going and till my miner made enough to start again....that was 4 days  ago and never got the loan....and still need a loan so sometime it out of your hand when it happens like that ........have a good day cause im not after losing everything .....

[GannickusX]

Well sometime like me i got hack lost everything and then i needed a loan just to get going and till my miner made enough to start again....that was 4 days  ago and never got the loan....and still need a loan so sometime it out of your hand when it happens like that ........have a good day cause im not after losing everything .....

That makes no sense, im talking about people taking too many loans, yes you can lose everything but i doubt anyone lost everything every two weeks to be needing a loan every week almost