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Author Topic: Loans too risky?  (Read 63325 times)
bitsmichel
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March 26, 2016, 10:02:30 PM
 #61

Don't try to start loaning business because there is no way for people to provide valid collateral for bigger loans.
With the amount you own I wouldn't bother with any form of risky business like lending. Instead use like 1% of your holdings to gamble, you could be lucky.
I recommend poker or one of the skills based gambling games, if you want to win. You have to beat the house edge in other games, which is extremely hard to do.
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coin_gambler
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March 26, 2016, 11:12:50 PM
 #62

yeah its a risky thing to take out a loan especially if you gamble with those money, if i were you i wouldnt take it

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March 26, 2016, 11:24:52 PM
 #63

Don't try to start loaning business because there is no way for people to provide valid collateral for bigger loans.
With the amount you own I wouldn't bother with any form of risky business like lending. Instead use like 1% of your holdings to gamble, you could be lucky.
I recommend poker or one of the skills based gambling games, if you want to win. You have to beat the house edge in other games, which is extremely hard to do.

Beating the house edge is one thing, but beating the house edge over a longer period of time and having a profit at the end of the ride is a completely different thing. 98% of the people are only losing money if you look at their all time stats. That's why you should never gamble.

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March 27, 2016, 12:35:15 AM
 #64

Don't try to start loaning business because there is no way for people to provide valid collateral for bigger loans.
With the amount you own I wouldn't bother with any form of risky business like lending. Instead use like 1% of your holdings to gamble, you could be lucky.

Actually loaning business is really good imo, you can increase your trust by the community and you can get easy money by collecting interest. i think using bicointalk account for collateral is good, you can sell the id too.
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March 27, 2016, 04:09:43 AM
 #65

yeah to me loans btc is too risky dude.
i prefer to earn or trading btc than loans.  Huh
Navesh Sapad
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March 27, 2016, 04:13:33 AM
 #66

Yes and thats why there is escrow service , If you feel lending loan is risky then have a collateral which is worth same as the loan amount . Actually speaking everything is risky with BTC

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March 27, 2016, 12:37:24 PM
 #67

Don't try to start loaning business because there is no way for people to provide valid collateral for bigger loans.
With the amount you own I wouldn't bother with any form of risky business like lending. Instead use like 1% of your holdings to gamble, you could be lucky.
I recommend poker or one of the skills based gambling games, if you want to win. You have to beat the house edge in other games, which is extremely hard to do.

Sports betting is pretty good too. If you have the skills and distribute your bets across games (rather than going all-in in a particular game), you can make decent sums of money.

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March 27, 2016, 12:52:07 PM
 #68

Don't try to start loaning business because there is no way for people to provide valid collateral for bigger loans.
With the amount you own I wouldn't bother with any form of risky business like lending. Instead use like 1% of your holdings to gamble, you could be lucky.
I recommend poker or one of the skills based gambling games, if you want to win. You have to beat the house edge in other games, which is extremely hard to do.

Poker is over for the average person anymore. Back in the day you could make a ton of money, but nowadays the average skill is way too high and you would need to put a ton of effort into becoming a decent player if yo want to see any decent amount of monthly gains. Im not sure if it's worth the effort anymore but you can try, maybe he has a gift.

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March 27, 2016, 03:16:44 PM
 #69

Don't try to start loaning business because there is no way for people to provide valid collateral for bigger loans.
With the amount you own I wouldn't bother with any form of risky business like lending. Instead use like 1% of your holdings to gamble, you could be lucky.
I recommend poker or one of the skills based gambling games, if you want to win. You have to beat the house edge in other games, which is extremely hard to do.
House Edge is not the biggest problem of gambling. In fact some games have really good House Edge.
There are couple Dice sites which offer you House Edge of 0.1%. Just check gambling section to find them.
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March 27, 2016, 04:33:09 PM
 #70

Don't try to start loaning business because there is no way for people to provide valid collateral for bigger loans.
With the amount you own I wouldn't bother with any form of risky business like lending. Instead use like 1% of your holdings to gamble, you could be lucky.
I recommend poker or one of the skills based gambling games, if you want to win. You have to beat the house edge in other games, which is extremely hard to do.

Sports betting is pretty good too. If you have the skills and distribute your bets across games (rather than going all-in in a particular game), you can make decent sums of money.

Sport betting really depends on luck. even if you have skills. but at least the skills can help you.

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European Central Bank
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March 28, 2016, 12:29:43 AM
 #71

If your story is true then you turned out very smart in the end. You'd be super dumb to even dream of loaning or gambling. Sit back and let the rest of the world catch up and don't risk your coins.

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PapoXxX
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March 28, 2016, 12:31:17 AM
 #72

800 btc??? you are rich man!!! congratulations for your invest!

yes loan can be difficult why dont you try btcjam?
Shinpako09
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March 28, 2016, 03:31:03 AM
 #73

I dont know if youre word is really true because no one would ever tell that they own that number of btc. Even people who holds 20+btc, theres only few of them. But if that was true i guess lending was too slow to make a profit for a bitcoiner like you.
ObscureBean
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March 29, 2016, 11:55:26 AM
 #74

First off congrats man, turning less than $100 into more than 300k is a pretty cool trick Grin I'm not sure why you would even consider loaning your coins, I guess it never hurts to grow richer  Cheesy Anyways if you're really serious about this then at least make sure you mess around with only a small amount and don't even think about touching the rest. 50 - 100 BTC should be enough to earn you very nice interest on a site like btcjam. Make sure you do your research. Good luck!
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March 29, 2016, 04:38:17 PM
 #75

I think so that loans are too risky if you are unable to pay on time. As far as I know loans are actually became a big debt problem when it earn its interest every time that you miss to pay out the initial amount owe plus the charge accompany to it..

tyz
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March 29, 2016, 05:53:01 PM
 #76

It is still a question of collateral whether you make profit or loss.
If you take a collateral (e.g. Bitcointalk account) which is 0.25 BTC in value or may not give a loan more than 0.0175 BTC. If loan is defaulted then it is very likely you still make profit out of it.

yeah to me loans btc is too risky dude.
i prefer to earn or trading btc than loans.  Huh

Ardenyham
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March 29, 2016, 07:04:27 PM
 #77

Loans are too risky because of multiple reasons, People mostly take loans to invest in bad projects like gambling and trading altcoins etc... which rarely yield profit therefore not giving back the loans after losing the loan amount, Also there is no stable collateral in the online field generally so no motive for the lender to payback.
Olaf
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March 29, 2016, 07:27:43 PM
 #78

The question of risk should be more of risk management.

And the next check list should be comparison to what alternatives that give you a possible solid return with better odds.

There will always be a loan that goes bad, so its a matter of knowing that part before lending.. its better then gambling if you hold collateral.

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March 29, 2016, 08:01:14 PM
 #79

Giving out loans is a risky business because you may not succeed in selling the collateral for the expected value and you may not make a profit. That's the reason I am trying to stay away from loaning to people.
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March 29, 2016, 08:13:15 PM
 #80

even if you have all the informations of that person that you loan him you can easily be scammed because maybe he will lose all of the loan and he will not have how to give back the amount.
you can say loan is type of gambling but very risky and even if the person have a good reputation it will end up by a scam Wink

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