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Author Topic: Loans too risky?  (Read 63532 times)
Ardenyham
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May 04, 2016, 06:30:52 AM
 #201

Loan is too risky if you cant pay it, Loan the amount that you can pay so that it is not risky, and loan if you need it in emergency for your family, dont loan if you need it in investment, dont risk the money that you loan in betting sites or gambling .
even we can't get loan without collateral. this is the number one rule of the forum "no collateral no loan" if you get a loan, you have to give a valid collateral. and if you can't pay the loan then your collateral will be defaulted by the lender. so always think before getting loan. don't loan money for gambling.
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DaddyMonsi
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May 04, 2016, 07:09:52 AM
 #202

even we can't get loan without collateral. this is the number one rule of the forum "no collateral no loan" if you get a loan, you have to give a valid collateral. and if you can't pay the loan then your collateral will be defaulted by the lender. so always think before getting loan. don't loan money for gambling.

There are a number of borrowers in this forum who we're able to build a very good reputation and trade history that they can borrow coins even without collateral. Their forum accounts value is more than what they are borrowing. Just imagine ruining a Legendary account or even a Hero account because of a 0.03BTC loan. But those kind of loan request is very seldom to come by and seasoned lenders usually try to get in line to fund the loan. 

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codehtcmail
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May 04, 2016, 07:55:42 AM
 #203

I have started a small loaning service, and the thing about it is to always have a valuable collateral that can be easily sold to cover the loan amount and impossible to reclaim for the borrower so he can't get it back.
Best collateral is altcoins currently traded, a high ranking account (if not sold or hacked), also collateral should always exceed the value of the loan at a rate of 120%.
Don't take risk on newbie accounts without a very solid collateral.

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May 04, 2016, 05:11:10 PM
 #204

I have started a small loaning service, and the thing about it is to always have a valuable collateral that can be easily sold to cover the loan amount and impossible to reclaim for the borrower so he can't get it back.
Best collateral is altcoins currently traded, a high ranking account (if not sold or hacked), also collateral should always exceed the value of the loan at a rate of 120%.
Don't take risk on newbie accounts without a very solid collateral.

Yep! It's better not to risk on newbie's without collateral.

I've been following a thread where a dude asked if he could get loan with his newbie account as collateral. Some a good hearted and generous dude has gave him the loan (0.0025BTC as far I remember), he was supposed to pay on May 2 or before as promised, but he didn't yet. The last reply was from the guy who gave loan says that the dude who took didn't return the money yet and he's still waiting for him.

Though it's a little amount, there is a lesson for you to learn from this example.
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May 05, 2016, 06:15:17 PM
 #205

Loans are risky if you don't have something to collateral particular accounts here in forum. Better to avoid loans or if you want to loan. Loan what you can afford to pay.
It's not only the collateral that secures loan and makes it less risky. There are borrowers out there who hides behind a newbie account and offers a forum account as collateral. But upon further research or after a few days, someone will claim that the account was somewhat hacked. This happened already in this forum.
Yes, unfortunately it has many risks and more risks compared to real world loads. Ways for deceiving are more in online market and this forum.



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OrangeII
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May 05, 2016, 06:31:49 PM
 #206

I think the loan will only make us lose, better to use bitcoin we have than to lend it to someone else. and it is also not 100% that bitcoin that you lent will be returned



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May 05, 2016, 11:01:45 PM
 #207

I think the loan will only make us lose, better to use bitcoin we have than to lend it to someone else. and it is also not 100% that bitcoin that you lent will be returned

Well as a lender here i had positive and negatives about the lending service,you will get the account usually if the user default but you will be forced to go auctio with that account and try to recover your loss,main rule besides no colateral no loan is just loan always less then the account value.The other side is that you can get a easy 10-20% income from a week two weeks loans something you cant get anywhere else without problems,when the user repays.
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May 06, 2016, 04:27:07 PM
 #208

my advice is just hold the coins for now, until a good price rise comes
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May 06, 2016, 04:41:49 PM
 #209

if you really have 800 bitcoin i would worry more about getting a secure offline wallet and get some backups in some fireproof saves.

and then just wait for bitcoin to be worth even more than it is now

i wouldn't worry about making even more bitcoin because it's such a large amount of bitcoin already.
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May 06, 2016, 05:21:35 PM
 #210

In reality, this type of debt investing has been around for many years, but still need to be careful, need to find the credibility of the person that asked the loan

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May 06, 2016, 06:40:37 PM
 #211

Loan is too risky if you cant pay it, Loan the amount that you can pay so that it is not risky, and loan if you need it in emergency for your family, dont loan if you need it in investment, dont risk the money that you loan in betting sites or gambling .

Yes, Loan should be taken if you really need it. Do not take loan to invest in other sites, because if you loose, you will end up with nothing and become a defaulter.

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May 06, 2016, 07:11:11 PM
 #212

Loaning to anyone who you don't know could end with you losing your money.
Be warying with who you are dealing with. They could just as well be a thief pulling a scam on you.

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May 06, 2016, 07:15:20 PM
 #213

Yeah, a newbie acc with 800btc asking for advice.

I don't buy that. Do you even have 0.08btc? Let alone 800.

As for your question, loans are risky because the world is full of thieves. Unless you choose your customers carefully (this usually works) or you have an armed force to track down the thieves (this works more than usually), you will just get fcked.
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May 06, 2016, 07:16:00 PM
 #214

It depends really in how you go about loaning. Here on bitcointalk you usually get something in exchange that is valued at a higher amount than the loan and means you profit either way. Its just that the amount of loans usually do not amount to much in the interest if the person does payback.

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May 06, 2016, 08:35:47 PM
 #215

Loaning to anyone who you don't know could end with you losing your money.
Be warying with who you are dealing with. They could just as well be a thief pulling a scam on you.

It is possible to give loan with someone you don't know and make it secure, you know how? Get collaterals, if they disagree with the agreement, then cancel their loan. That's how it easy to give a loan with someone you don't know.  Smiley
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May 06, 2016, 10:23:56 PM
 #216

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

Advisor? i would assume you sir have a good business going on for u. And i havent had a bad experience on loaning as long as you know where and whom to laon money.

Yeah, a newbie acc with 800btc asking for advice.

I don't buy that. Do you even have 0.08btc? Let alone 800.

As for your question, loans are risky because the world is full of thieves. Unless you choose your customers carefully (this usually works) or you have an armed force to track down the thieves (this works more than usually), you will just get fcked.
Yeah, either he had a miscalculation or he has other objecive.

Yes, even though this is a good business let's always be smart and perceiving.
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May 06, 2016, 10:35:40 PM
 #217

Loan is too risky if you cant pay it, Loan the amount that you can pay so that it is not risky, and loan if you need it in emergency for your family, dont loan if you need it in investment, dont risk the money that you loan in betting sites or gambling .

I agree with you, having a debt or loaning is very risky if you will loan and you don't have assurance that you can't pay it completely.
Loan what you can afford to pay. There is no problem in loaning if you know that you can pay it immediately, it is better to pay it immediately so that interest won't grow.

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May 06, 2016, 11:19:18 PM
 #218

Loan through a trusted site. Most people use a forum and ask for items to hold while the loan is standing out but you are so much safer with a middleman who got all information about the loaner and can start a process of the loan is not paid back.
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May 06, 2016, 11:32:02 PM
 #219

Loan through a trusted site. Most people use a forum and ask for items to hold while the loan is standing out but you are so much safer with a middleman who got all information about the loaner and can start a process of the loan is not paid back.
Even when using a middleman site, there is still a lot of risk involved. Unless you have a fair amount of collateral, there is always the risk someone will run off with a larger loan. This has been happening on BTCJam and other sites.

Something like a microloan might be a better option in the future, and there are some sites that offer them. Something like that would put you at minimal risk and could allow for a decent return in the future.
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May 06, 2016, 11:37:41 PM
 #220

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

Signed message or it didn't happen. I'm sure you didn't keep all your BTC in a single address so please show any address with ~100BTC that you own. Then we can get into what you should do to invest them.














 

 

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