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
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