Bitcoin Loaning - Is it worth it?

[Herbert2020]

What would you use for collateral? I hope it's not usernames on Bitcointalk. These usernames are sold, and bought for scamming on a daily basis. The only reliable usernames are the primary username of a member, with Hero and above ranking and not created with the intent to sell. {Check post history, for constructive and non-spam related content} .....

i don't quite understand this part. can you explain a little.
if by username you mean taking control of the account and not only knowing the username, i don't see the risk in that. because any account with any sort of rank has its own value and post history doesn't make any difference.
if you want to join any campaign you can post good quality for one week and then join.

the value depends on the rank and whether or not it has been banned, negative trust or things like that

[1715433295]

1715433295

[1715433295]

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[Patatas]

I believe it's profitable, if I had only enough bitcoins to lend, I will run a loan service in this forum

Of course there's still a risk on lending and getting scammed but you can reduce the risk by asking a collateral on every loan or you can just lend to trusted users here.

[XinXan]

It's a tedious process honestly, yea you could ask for collateral and if they give you altcoins is all good but bitcointalk accounts as collateral are just painful, you have to either sell them which you might not be able to do so fast or join a sig campaign and pay for the loan yourself which is tedious so if someone ends up not paying you have to be dedicated to it and recover your money using your time.

I think I might proceed with it actually. Alt coins seems a good, solid collateral, even if I don't receive many requests because of it, I atleast will come out well if I'm not paid back.
Thanks

Unfortunately there is already people that offers loans without collateral, some of them to increase their trust some others to try make some profit, that would make it really hard for you to get requests from people who actually have alt-coins to offer as a collateral, 95% of the loans requested are usually stupid loans, anyone who needs a loan < 0.10 btc will probably use it for gambling, increasing trust, some of them might actually need it but not too many.

[ajareselde]

I believe it's profitable, if I had only enough bitcoins to lend, I will run a loan service in this forum

Of course there's still a risk on lending and getting scammed but you can reduce the risk by asking a collateral on every loan or you can just lend to trusted users here.

This is true, but even with no collateral loans one can make a decent profit, because the interests are much grater on non collateral loans, than they are
on collateral ones, mostly because the risk is greater also.

You can evaluate the risk on the status of the account asking for loan; if the account can be
signed, and it has estimated worth of ~0.20 btc, it is unlikely that the loan taker will scam you after borrowing 0.05, simply because he will get negg repped and
destroy his account, which will make him a much more loss. But then again, some people still do it anyways, but it's beyond me why they do it.

cheers

[knowhow]

well without colateral you will get scammed without anyone think twice,you can rent your bitcoins on poloniex with margin trades,means the money cant be moove from the exchange and will generate a fee,that is your profit,the good thing is that no one cant withdraw any ammount from it before pays the loan soo is like 99% safe this loan.

[--Encrypted--]

I think it can be worth it as long as you never tried to loan without a collateral. though giving a small loan to a trusted member that can prove their ownership of the said account can be worth it as well.

[wadili89]

I believe it's profitable, if I had only enough bitcoins to lend, I will run a loan service in this forum

Of course there's still a risk on lending and getting scammed but you can reduce the risk by asking a collateral on every loan or you can just lend to trusted users here.

mostly trusted users dont need loan they already have enough funds they dont need loan mostly you will see newbies and jr member are asking for loan and if you giving then loan without colleteral you will get scamed and if they are giving their account as a colleteral even the loan amount i small their accout worth it but still after getting scamed it will be hard for you to sale jr member or member account because no one buy it, loaning is so much work

[knowhow]

as i said before try poloniex margin trades works the same way as loans they ask for an colateral to protect money from their costumers and yes if you see some high rank asking for loan well it had been bought maybe,soo a scam attemption.

[DaddyMonsi]

Hi,
So something I've been thinking about is lending Bitcoin. For me to conduct trades over Bitcoin Talk, I usually ask the other party pays first (which usually means the trades fall through).

• Is it actually profitable?
• Will I get scammed to death?

Cheers.

ask ManyProofs 
this guy now have a strong fan base and he is known as a "pro lender" 

seriously lending is a good part time business but one needs to be choosy as to who will get the loan and I strongly suggest to follow the no collateral, no loan rule

[Amph]

as i said before try poloniex margin trades works the same way as loans they ask for an colateral to protect money from their costumers and yes if you see some high rank asking for loan well it had been bought maybe,soo a scam attemption.

i thought that exchange don't ask for any collateral, they simply take your other deposit money if you can't repay their loan with margin trading, in fact i'm wondering what will happen if someone abuse this and make multiple account to scam the exchange through multiple leverage trading at x20

[mindrust]

Bitcoin loaning is a legit and nice business as long as you know what you are doing. Like others said, "no collateral, no lend" rule will keep you safe mostly.

[DaddyMonsi]

Lending or Financing is a good business and there's always a market for that regardless of what group there's always someone out there willing to finance or lend someone who needs. As long as the interest is not sky high people will ask you for help (loan).

[Arkazle]

In the future (if not already) people might just start selling accounts with A-C ratings on BTCJam and scamming people?

Anyone thought of this?

[knowhow]

as i said before try poloniex margin trades works the same way as loans they ask for an colateral to protect money from their costumers and yes if you see some high rank asking for loan well it had been bought maybe,soo a scam attemption.

i thought that exchange don't ask for any collateral, they simply take your other deposit money if you can't repay their loan with margin trading, in fact i'm wondering what will happen if someone abuse this and make multiple account to scam the exchange through multiple leverage trading at x20

It's almost as collateral, because it requires that holds a coin in return allows you to get a loan, you can't draw, having to invest in other crypto or even with other offers of loan is very attractive so that has about 200 bitcoins in the loans every day.

[Amph]

In the future (if not already) people might just start selling accounts with A-C ratings on BTCJam and scamming people?

Anyone thought of this?

i think this is already reality, because there are many scammers even among those with a+ rating, you can't trust btcjam at all, better to lend money here and use their account as a collateral, which is the best and faster collateral you can ever get

[HeroCat]

BTC loaning is still like home made ice cream. You can loan, but there is no quaranty that, you will receive it back. 

[BillyBobZorton]

In the future (if not already) people might just start selling accounts with A-C ratings on BTCJam and scamming people?

Anyone thought of this?

i think this is already reality, because there are many scammers even among those with a+ rating, you can't trust btcjam at all, better to lend money here and use their account as a collateral, which is the best and faster collateral you can ever get

Is there a step by step tutorial in how to do this correctly without screwing up? I have some BTC that I want to start growing and I don't know how before gambling in the altcoin market, loaning seems like the only way to go, but im scared to get scammed, specially if you can't even trust A+ guys in BTCJam.

[Fishbones78]

In the future (if not already) people might just start selling accounts with A-C ratings on BTCJam and scamming people?

Anyone thought of this?

i think this is already reality, because there are many scammers even among those with a+ rating, you can't trust btcjam at all, better to lend money here and use their account as a collateral, which is the best and faster collateral you can ever get

Is there a step by step tutorial in how to do this correctly without screwing up? I have some BTC that I want to start growing and I don't know how before gambling in the altcoin market, loaning seems like the only way to go, but im scared to get scammed, specially if you can't even trust A+ guys in BTCJam.

For loaning, my main rule is just have decent collateral, at the moment anyway. Saying that, I've only had 1 loan request which I turned down, so I think it may be a slower process than I thought.

[LMGTFY]

I've found lending out BTC on Bitfinex to be easy and apparently risk-free (as far as that's possible). Bitfinex provide "total return swaps" - basically the lender sets a rate, amount and duration (say: 0.0055%, 1 BTC, 2 days) and waits for a borrower to accept (or the lender can set a rate that a borrower has already demanded).

Bitfinex cover the counterparty risk - the borrower is borrowing on margin, and Bitfinex will do a margin call if the borrower's position approaches the point beyond which they could pay you back.

Obviously there's still exchange risk - Bitfinex currently seem pretty solid, but the usual rules apply: spread your risk, keep on top of information about exchanges you're dealing with, etc.

I don't know what rates to expect elsewhere (I suspect rates probably are better elsewhere) but the 0.0055% rate seems to be the long-term trend. It's still better than the 0% rate I was getting before I moved (some of) my coins to Bitfinex! (And I've been luck so far and always managed to get better than 0.0055%).

(No connection with Bitfinex except as a satisfied customer).

[fullypak]

BTC loaning is still like home made ice cream. You can loan, but there is no quaranty that, you will receive it back. 

That's why you should follow the thumb rule no collateral and no loan. If you follow this method yes it is surely profitable and you can make some decent profit instead investing in some scam programs.