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Author Topic: Loans too risky?  (Read 63636 times)
Mr.grin
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April 10, 2016, 02:41:29 PM
 #121

Sometimes you have to take care it's really risky to give loans without collateral usually
Well, perhaps a loan would be detrimental if you can not return the bitcoin or money you borrow, it would be very risky if you give all your data on that person before borrowing money or bitcoin


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April 10, 2016, 02:56:24 PM
 #122

Well if you use a trusted escrow for collateral it's not so risky and if you give loans to your friends without interest for starting a good business maybe it's a good thing, but please don't loan money to people for gambling - you will ruin their life and probably yours too.

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April 10, 2016, 03:39:25 PM
 #123

Loaning bitcoin is a good business if you know the person you gave the loan and they are going to pay plus the interest. Otherwise, there should be collateral so you can recover if the person did not pay back what he owns.

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April 10, 2016, 04:48:14 PM
 #124

Not only risky but illegal. Money should be free without to return back a loan.
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April 11, 2016, 01:45:50 AM
 #125

Well if you use a trusted escrow for collateral it's not so risky and if you give loans to your friends without interest for starting a good business maybe it's a good thing, but please don't loan money to people for gambling - you will ruin their life and probably yours too.

Using a escrow is a good suggestion, and collateral needs be accepted based on the money you lend. I think none gives bitcoin free of interest as its been hardly earned as well most users only provide a little amount as loan.

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April 11, 2016, 08:51:37 AM
 #126

Not only risky but illegal. Money should be free without to return back a loan.

What I don't understand this why should money be free? lol huh


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rio3233
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April 11, 2016, 09:09:52 AM
 #127

Well if you use a trusted escrow for collateral it's not so risky and if you give loans to your friends without interest for starting a good business maybe it's a good thing, but please don't loan money to people for gambling - you will ruin their life and probably yours too.

Using a escrow is a good suggestion, and collateral needs be accepted based on the money you lend. I think none gives bitcoin free of interest as its been hardly earned as well most users only provide a little amount as loan.

Yeah, using collateral for loans are the best way to give loans. So, if he don't pay back his loans we can have his collateral, if the collateral is btctalk id you can sell that account.
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April 11, 2016, 09:40:19 AM
 #128

Loans can be risky. I suggest you only take a loan when you buying something that you really need. And if you are sure that you will be able to pay it back. If this is not the case do not take a loan because it will mess up your life.

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April 11, 2016, 10:09:49 AM
 #129

Loans can be risky. I suggest you only take a loan when you buying something that you really need. And if you are sure that you will be able to pay it back. If this is not the case do not take a loan because it will mess up your life.
Yes, right. better we borrow when we can make a profit from that loans and never borrow for something that is good luck, such as gambling.

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April 11, 2016, 03:15:25 PM
 #130

Loans can be risky. I suggest you only take a loan when you buying something that you really need. And if you are sure that you will be able to pay it back. If this is not the case do not take a loan because it will mess up your life.

Loans being risky are from the view of the lender, not the borrower.  Grin
Somebody with no control over spending can mess up his life even without borrowing.
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April 11, 2016, 05:40:59 PM
 #131

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

yes loans are very, very risky thing because we all know that people are usually very greedy and they won't want to give back even more than they got from you, so of course that they will want to scam you, i think that loans giving is most risky job to do with bitcoins,just because people these days are too greedy
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April 11, 2016, 06:00:27 PM
 #132

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

yes loans are very, very risky thing because we all know that people are usually very greedy and they won't want to give back even more than they got from you, so of course that they will want to scam you, i think that loans giving is most risky job to do with bitcoins,just because people these days are too greedy
Yeah its risky but if you are not wise or smart you will lose.. so make sure that he send first or use escrow to hold the payment and account collateral so that you are far in scammers..

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April 11, 2016, 06:45:45 PM
 #133

Not only risky but illegal. Money should be free without to return back a loan.
it all back to the nature of the individual, if he had the intent to commit fraud no matter he borrowed through legal or illegal. he would remain committed fraud.

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April 11, 2016, 06:58:56 PM
 #134

Some individuals turn to the Internet to get loans because they don't have the intention to repay it back or don't have the courage to visit a bank and ask for a loan there maybe because they are unemployed or have a bad credit history. I have seen Hero members on this forum scam for a couple hundred bucks like out of the blue. Maybe they are in a dire financial situation or have some emergency but sometimes it begs the question is it worth to loan cash to strangers over the Internet?

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April 11, 2016, 08:12:49 PM
 #135

Its always risky to loan money online. You have to do an extensive background check to the loaner and make sure that he is going to pay you back.

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April 12, 2016, 09:11:40 AM
 #136

Its always risky to loan money online. You have to do an extensive background check to the loaner and make sure that he is going to pay you back.

for now you can lend safely, because there is always some requirements to get a loan. like in this forum with the forum account collateral. or such other sites, btcjam and loanbase.

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April 12, 2016, 01:36:28 PM
 #137

Loans becoming risky if there is no collateral just like in real world loans without collateral is very risky but if there is collateral and some requirements then its fine.

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MaritiJames3
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April 12, 2016, 01:51:41 PM
 #138

Loans can be risky. I suggest you only take a loan when you buying something that you really need. And if you are sure that you will be able to pay it back. If this is not the case do not take a loan because it will mess up your life.
I agree if you are going to take a loan be sure that you will be able to pay it back. If you can assure that you will be able to pay it back a loan is not that risky.
RobinHoodster
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April 18, 2016, 10:25:34 AM
 #139

Loans can be risky if you are not able to pay it back I suggest that you do not take a loan because it can mess up your life. But if you are able to pay it back you can do it without a problem.
Greenenergy
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April 18, 2016, 11:19:21 AM
 #140

Assuming that your wallet really contains what you say it does, I would advise you to don't start in this domain. Your probability to lose is big, and for the big amount of money that you have, the returns will be tiny for a big loss probability. A bad idea in short.

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