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Author Topic: Loans too risky?  (Read 62826 times)
zachmartus
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February 25, 2016, 04:13:28 AM
 #1

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

Something I should have added my friend was doing something you guys call "mining" I am very knew to the bitcoin world even though I have had them for a long time. I bought these bitcoin from him because he needed to sell them, my financial advisor has told me that the longer I wait the more return I would get so I told him hold the account for 5 years and ill see where I am... So last July I had gotten my account back, did a bunch of research then found you guys. So I came here to post a few posts and for everyone skeptical this is the proof https://gyazo.com/ee99cef712e9b72f03a3e8e870c33624

BTC Address: 1Nrdef84MF1KCXqFu1tSEjHe2rnB4TgTEb
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February 25, 2016, 04:26:13 AM
 #2

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?
Lol I don't believe a word you say about your bitcoin holdings, no offense.  And what's up with people not returning what they borrow?  Hello, are you new to the world?  It's greed and dishonesty.  I assume you're probably not new to this forum either.

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February 25, 2016, 05:36:08 AM
 #3

Well assuming what you just said, is true, of course giving out loans is risky. It's like you gamble with your money in order to get 1 or 2% on top of it either in short or long terms and with the tendency of losing your money in case the guy who got the loan, doesn't return it. You could by some mining equipment's and contribute to the network as well and see the long term profit if you could manage and balance everything well.

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February 25, 2016, 05:36:38 AM
 #4

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

So your 800 BTC only cost about $56. If I were you I would even bother to think of way to loan it just to obtain little interest like 2-4% per year- the risk is too high. Convert half into cash and hodl the other half. Use the cash for a holiday or just keep the cash in the bank for the tiny interest (hopefully it is not negative interest in your country).

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February 25, 2016, 07:44:32 AM
 #5

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

So your 800 BTC only cost about $56. If I were you I would even bother to think of way to loan it just to obtain little interest like 2-4% per year- the risk is too high. Convert half into cash and hodl the other half. Use the cash for a holiday or just keep the cash in the bank for the tiny interest (hopefully it is not negative interest in your country).

Use half of his bitcoin for a holiday? Half would be $170k, as he has a total of $340k in bitcoin. 
I too strongly doubt that this is a serious question, but if you want to loan, you need to be picky, ask for collateral and be prepared to lose sometimes.

Also, unless you are seriously wealthy, I would suggest diversifying, rather than increasing your holdings!  Real estate and PMs would seem a good idea for someone with so much in Crypto.

Congratulations on buying and holding for so long, if what you posted is actually true.  I would guess that most who bought at sub $1, also sold at sub$10.


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February 25, 2016, 08:30:50 AM
 #6

Escrow systems can make the loan by bitcoins a secure as well as risk free. The loan provider and the getting person can submit collateral and loan amount to escrow. Escrow can provide the bitcoin and if proper interest is not paid, escrow can give the collateral to loan provider.



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February 25, 2016, 10:49:49 AM
 #7

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

Are you seriously trying to make us believe that you transformed 56$ in a fortune and you're asking what to do with it? --'

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February 25, 2016, 10:54:26 AM
 #8

I think he means test net Bitcoins. Cheesy

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February 25, 2016, 11:07:00 AM
 #9

well it's not so impossible that he have that amount for 56 only, i means back then was very easy to acquire bitcoin for nothing, via mining or trading

even if he made up his story who care it's like we are here to scam him.....but know with that forutne i would try to do trading instead small amount with huge leverage instead of wasting time with loan and risking a scam
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February 25, 2016, 02:32:41 PM
 #10

So your 800 BTC only cost about $56. If I were you I would even bother to think of way to loan it just to obtain little interest like 2-4% per year- the risk is too high. Convert half into cash and hodl the other half. Use the cash for a holiday or just keep the cash in the bank for the tiny interest (hopefully it is not negative interest in your country).

I would suggest not to do anything with the coins, just hold them for the next several decades. It is much safer.

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February 25, 2016, 03:01:57 PM
 #11

i don't know what you says true or not but i would say yes loan is too risky because some people will run when they did a loan and don't repay the money and my suggest is if someone else asking for loan to you better only give a loan with collateral
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February 25, 2016, 10:55:56 PM
 #12

You may get away with one or two loans to trusted people on here, but eventually somebody is going to scam you and eat all your profit...  Either you're going to end up price gouging the innocent customers, or end up on the hook when somebody that looked legit decides to run off with your BTC.  You'd be better off holding your coins or just selling them and investing the money normally, not risking massive amounts on random internet strangers.

Also, probably not a good idea to have your real name showing next to a BTC amount like that... gonna make yourself a hell of a target Tongue

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February 25, 2016, 11:33:57 PM
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This sounds unreal to be honest,but why to lend 340k now and a high chance that may reach 500k dollars soon and  you wanna lend where suits your brain?
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February 25, 2016, 11:37:45 PM
 #14

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

So your 800 BTC only cost about $56. If I were you I would even bother to think of way to loan it just to obtain little interest like 2-4% per year- the risk is too high. Convert half into cash and hodl the other half. Use the cash for a holiday or just keep the cash in the bank for the tiny interest (hopefully it is not negative interest in your country).

I think it's better if the cash he got, he uses to buy his necessities such as food, clothes or house, anything a human needs.

and maybe loaning it is not good idea

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February 26, 2016, 03:48:16 AM
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If you have 800 bitcoins then maybe you don't really need to try to make money via loans.  I would suggest holding the coins and may a ton more money by selling when the price goes up.

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February 26, 2016, 03:54:22 AM
 #16

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

Something I should have added my friend was doing something you guys call "mining" I am very knew to the bitcoin world even though I have had them for a long time. I bought these bitcoin from him because he needed to sell them, my financial advisor has told me that the longer I wait the more return I would get so I told him hold the account for 5 years and ill see where I am... So last July I had gotten my account back, did a bunch of research then found you guys. So I came here to post a few posts and for everyone skeptical this is the proof https://gyazo.com/ee99cef712e9b72f03a3e8e870c33624

First, i must say god damned. Buying ~800 bitcoins when the price $0.07 each. Back to the topic, actually every people who want a loan, they must have collateral. So if he not pay back his loan, you get his collateral.
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February 26, 2016, 04:04:21 AM
 #17

Send me one bitcoin to the address in my profile and I will fight back the skeptics with my wits and stuff.
Best of luck but I think you may want to stay away from lending. Look to invest in bigger legit business ideas or sites. It takes a shrewd person to run a lending business.

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February 26, 2016, 06:52:43 AM
 #18

If this is true, and I must say I have my doubts, I would split the risk. Take for example 200 bitcoins and trade with those on the up's and downs, then take another 200 bitcoins and loan them out to reputable services. I would then take say another 300 and keep it in cold storage and drop the last 99 into fiat and just have fun.

You deserve a little reward for the decision you made to invest in Bitcoin that early. Oh, before I forget, the last bitcoin must come to me for the good advice I gave you here. ^joking^

Have Fun.

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February 26, 2016, 07:28:21 AM
 #19

If I were you I would hold the coins until after the halving or till the end of the year if the price continue rising then convert it back to cash, shove it in a bank and get a nice chunk of money every year just from the interest alone while enjoying life and stop reading forums  Grin

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February 26, 2016, 08:09:23 AM
 #20

more and more ways that are not too risky. such as using escrow services and any loan using collateral. and it will keep you out of risk.

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