Trying to make sense of things here

[solareclipse64236]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

[kokjo]

why?

i got a loan, only on my postcount... whats your problem?

[DeathAndTaxes]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract.  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

[Vod]

why?

i got a loan, only on my postcount... whats your problem?

Most of his posts sound something like this.   

I'll do whatever I want retard

What kind of lame ass paraplegic moronic fucktard couldn't handle excessive thread posts or private messages? Probably a gay hooker named Laredo

[BurtW]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Maybe I can try to help you make some sense of this:

1) I lend based on only one criteria really, whether I think the person will pay me back.  Now I have a lot of things that go into that decision for example post count, quality of posts, etc.

2) Having a person's info means next to nothing if they do not pay you back.  I live in Colorado.  I lent 15 BTC to some asshole named bcjunkie.  Here is his profile:  https://bitcointalk.org/index.php?action=profile;u=54204

I have his address (Kentucky), a copy of his drivers license, etc.  I even have his picture.  I will give it to you and you can have whatever you collect.  Deal?

You will find that is is almost impossible to collect a debt in another state and not worth doing if it is a small amount like 15 BTC.

[solareclipse64236]

if that's your only criteria then i agree you won't be able to take it to small claims court

also, if this is a place where people can't swear in, then it won't be around for long troll

[solareclipse64236]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract.  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

[Vod]

if that's your only criteria then i agree you won't be able to take it to small claims court

also, if this is a place where people can't swear in, then it won't be around for long troll

Oh, people can swear, but I wouldn't lend anything to someone so immature.

[MPOE-PR]

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

To do what with? Burn in effigy?

[Tittiez]

Why? I've gotten loans from multiple people (BurtW, abbeytim, eroxors) without any identifying information. I've paid them all back early or on time.

The only person who wouldn't loan to me without identity was senbonzakura, but to give him credit it was smart to ask first because if I recall I only just became a Full Member and I had little reputation.

[DeathAndTaxes]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract.  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

Your own rate just contradicted your claim that most loans here are "cheap".  40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR.   Had you decided to not repay the loan there is no legal collection you could persue.  Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. 

TL/DR.  Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract.  An illegal contract isn't worth a whole lot.

[solareclipse64236]

if that's your only criteria then i agree you won't be able to take it to small claims court

also, if this is a place where people can't swear in, then it won't be around for long troll

Oh, people can swear, but I wouldn't lend anything to someone so immature.

then shut the fuck up and keep your money then troll

[solareclipse64236]

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

To do what with? Burn in effigy?

LAUGH MY FUCKING ASS OFF

If people can't be taken to court, or I can't harass people by having their credit ratings lowered then this is all moot

[solareclipse64236]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract.  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

Your own rate just contradicted your claim that most loans here are "cheap".  40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR.   Had you decided to not repay the loan there is no legal collection you could persue.  Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. 

TL/DR.  Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract.  An illegal contract isn't worth a whole lot.

lol you should have first stated which country you're from

i'm certainly not american so i thought you meant usarous as excessive

[btcANGEL]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract.  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

Your own rate just contradicted your claim that most loans here are "cheap".  40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR.   Had you decided to not repay the loan there is no legal collection you could persue.  Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. 

TL/DR.  Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract.  An illegal contract isn't worth a whole lot.

lol you should have first stated which country you're from

i'm certainly not american so i thought you meant usarous as excessive

You certainly type like a graduate of the American public educational system.

[BCB]

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Maybe I can try to help you make some sense of this:

1) I lend based on only one criteria really, whether I think the person will pay me back.  Now I have a lot of things that go into that decision for example post count, quality of posts, etc.

2) Having a person's info means next to nothing if they do not pay you back.  I live in Colorado.  I lent 15 BTC to some asshole named bcjunkie.  Here is his profile:  https://bitcointalk.org/index.php?action=profile;u=54204

I have his address (Kentucky), a copy of his drivers license, etc.  I even have his picture.  I will give it to you and you can have whatever you collect.  Deal?

You will find that is is almost impossible to collect a debt in another state and not worth doing if it is a small amount like 15 BTC.

BertW
Not true. Send me the info.  Thanks

[BurtW]

BurtW
Not true. Send me the info.  Thanks

I will dig up the info and send it to you and you can have at it.

[BlackHeartFund]

You certainly type like a graduate of the American public educational system.

Thanks for making me laugh while reading a sad thread.

[MPOE-PR]

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

To do what with? Burn in effigy?

LAUGH MY FUCKING ASS OFF

If people can't be taken to court, or I can't harass people by having their credit ratings lowered then this is all moot

See here.