Acceptable Collateral

[wolfsoprano]

Hello,

New user to the site, and have traded on other exchanges. Curious to know what are acceptable forms of collateral for lending out bitcoins. (I would lend the bitcoins)

[Uncleft.]

https://bitcointalk.org/index.php?topic=577765.msg6311902#msg6311902

[FruitsBasket]

Hello,

New user to the site, and have traded on other exchanges. Curious to know what are acceptable forms of collateral for lending out bitcoins. (I would lend the bitcoins)

The best collateral is altcoins which are known and sell wuickly, like DOGEcoin and Litecoin.
Also bitcointalk accounts have value, but don't over estimate it.
Don't accept giftcards because they sell at 30-50% of the value or they won't sell if the loan is defaulted.

Good luck!

[uknohowwedo]

acceptable collateral when loaning " full members" is usually just their word for it. a man is nothing without his word

[wolfsoprano]

Alright cool Ill take a look.

Thanks for the responses.

[Dobmader]

acceptable collateral when loaning " full members" is usually just their word for it. a man is nothing without his word

A full member account is just worth around 0.05-0.08. The price dropped since the bitcoin price has risen.

[btcdevil]

Hello,

New user to the site, and have traded on other exchanges. Curious to know what are acceptable forms of collateral for lending out bitcoins. (I would lend the bitcoins)

collateral for lending out bitcoins are some told of altcoins, but be carefull that they are saleable altcoins because he defults it and when you go for sale in market then their should be seller for that. you can have bitcointalk account as collateral but for that you should be knowing some process like get signed message from the address mentioned in that bitcointalk account which he/she is going to give you in collateral if you have any doubt you can use escrow service in this process so that in future no one can come and scam you.

[Sir_lagsalot]

It is what collateral is. A stablely priced good that can be resold in the case of a scam, so the lender can make back the money he/she lost. It's that simple. You really don't have to worry. Look at other threads, and see what people have offered as collateral and see if they've been denied.

Some valid forms of collateral are:
 - Bitcointalk accounts; provided there is a signed message
 - Stable altcoins
 - Anything that is easy to sell, and has a consistent value.

[MaritiJames3]

Hello,

New user to the site, and have traded on other exchanges. Curious to know what are acceptable forms of collateral for lending out bitcoins. (I would lend the bitcoins)

The best collateral is altcoins which are known and sell wuickly, like DOGEcoin and Litecoin.
Also bitcointalk accounts have value, but don't over estimate it.
Don't accept giftcards because they sell at 30-50% of the value or they won't sell if the loan is defaulted.

Good luck!

I would go for that too. Altcoins with a large daily volume. Accounts, be it BCT or from other sites is just too much of a hassle. People can retrieve it or the account is worth nothing, so you can't sell it.

Lending money with money as collateral.

[Amph]

aside from the standard account and altcoin, also hashpower can be used has collateral, maybe hash o legit cloud site like hashnest

it's very easy to give it and return it

[Vixmore]

It is what collateral is. A stablely priced good that can be resold in the case of a scam, so the lender can make back the money he/she lost. It's that simple. You really don't have to worry. Look at other threads, and see what people have offered as collateral and see if they've been denied.

Some valid forms of collateral are:
 - Bitcointalk accounts; provided there is a signed message
 - Stable altcoins
 - Anything that is easy to sell, and has a consistent value.

Bitcointalk account has not consistent value. The price fluctuate a lot. The account price will go down when the bitcoin price goes up.

[HeroCat]

In fact - your account ( from full member and up ) or altcoins can be as valid collateral  In some cases you can offer another type of collateral - like hashing power etc. 

[Mickeyb]

Hello,

New user to the site, and have traded on other exchanges. Curious to know what are acceptable forms of collateral for lending out bitcoins. (I would lend the bitcoins)

Hello and welcome to the forum. Make sure that you take at least 115%-120% of a good quality collateral if you decide to give loans. What I mean by quality is that you need to make sure that this collateral can be easily liquidated since the level of scams on this forum is huge!

Good luck!

[HarryKPeters]

120% is on the low side these days. I would aim for at least 130% and offcourse be very carefull with accounts. Be it BCT, paypal or whatever. Accounts can be hacked etc.
Accept solid collateral and check the person whom you are lending too.

[newcoins1978]

I would go with some solid value items. Like altcoins (litecon, dogecoin, stellar etc.). Some vouchers from amazon, dropbox etc. are also very welcome for me.

But make sure to test their legality by customer service.

[Decoded]

The two main popular collaterals on this forum are Bitcointalk accounts, and stable altcoins. These are so because they are easily converted to bitcoin/fiat. Some people take wierd things, like physical collateral, or other accounts, such as Steam accounts.

[Dobmader]

The two main popular collaterals on this forum are Bitcointalk accounts, and stable altcoins. These are so because they are easily converted to bitcoin/fiat. Some people take wierd things, like physical collateral, or other accounts, such as Steam accounts.

As the bitcoin price rise, the value of forum account has reduced a lot. So with the forum account as collateral, we can borrow much less now.

[bitcoin revo]

offcourse be very carefull with accounts. Be it BCT, paypal or whatever. Accounts can be hacked etc.

I would never accept any kind of account, no matter what they say. You can do wonders nowadays by ringing up support and claiming your account was hacked, if it's a large website's account. BitcoinTalk accounts can be especially shady for obvious reasons.

[Tacalt]

offcourse be very carefull with accounts. Be it BCT, paypal or whatever. Accounts can be hacked etc.

I would never accept any kind of account, no matter what they say. You can do wonders nowadays by ringing up support and claiming your account was hacked, if it's a large website's account. BitcoinTalk accounts can be especially shady for obvious reasons.

If the user signed a message and use the account as collateral and default on the loan, he cannot claim the account back.

[RodeoX]

Scale also matters. If you wanted thousands of dollars worth of BTC then I would want to hold your car title. Tens of thousands might require the deed to your house. If it were $10, then a netflix account might do. And for what it's worth there aren't enough alt-coins in the world to get me to part with a BTC.