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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: 1 bitcoin loan for 1 year  (Read 1800 times)
KWH
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In Collateral I Trust.


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July 31, 2015, 11:43:31 AM
 #21

I think its basic thing that i give my id/adress etc with proof.
secondly i had chance to buy cheap stuff and put in cheap place thats why i asked for help but nvm. I want to make a trade but u guys just make a joke about it. I wont said to give me 1 btc blind whith out knowing who am i, i just asked if anyone can help. Its basic thing that i proof my identity.

the reason why im askin here is simple. In btc jam if i ask for 1 btc i need to pay back 2,6 its a bit high. and i cant lower. when i registered it said i can get 1 btc for 12 month and i have to pay 0.09 every month total 1.2~. but after i proof my identity and finally can get the loan its raised to monthy 0.21 and overall 2.6

Here, we can do nothing with your ID if you default. We can't sell it, it may be fake or maybe the ID of another. Here, you need collateral that is held by escrow or the lender for the duration of the loan. https://bitcointalk.org/index.php?topic=577765.0
Default at BTC jam, a win through arbitration and you can legally be hauled into court and sued. This is where the problem with BTC jam occurs: Is it worth it for 1 BTC? How much are you willing to spend to collect? Usually it is not worth the trouble and the scammer walks.
A total stranger hits you up for a $300 loan, will you just hand it over? Think about it.

When the subject of buying BTC with Paypal comes up, I often remember this: 

Insanity: doing the same thing over and over again and expecting different results.

Albert Einstein
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