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Author Topic: People taking too many loans?  (Read 1636 times)
Coinshot
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June 25, 2015, 03:04:45 AM
 #41

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.

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June 25, 2015, 07:06:45 AM
 #42

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 Smiley

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June 25, 2015, 09:53:16 AM
 #43

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 Smiley

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

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June 26, 2015, 01:10:00 PM
 #44

They are probably doing it to gain trust like you said.
maheshmahi
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June 26, 2015, 02:37:17 PM
 #45

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.

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June 26, 2015, 02:39:22 PM
 #46

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

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June 26, 2015, 03:03:49 PM
 #47

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

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June 26, 2015, 03:08:13 PM
 #48

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

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oiul
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July 02, 2015, 10:28:40 AM
 #49

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.

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jones techbit
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July 02, 2015, 10:41:24 PM
 #50

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