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Author Topic: Loans too risky?  (Read 66603 times)
Indrawan77
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October 13, 2016, 05:21:58 AM
 #701

There's nothing wrong with loans as long as it will be used to gain or earn profits from it. It's bad if you borrowed money to buy something that will not give you anything in return to pay back your loan. In this forum lending is very risky since you are just dealing with a online people and nothing but online reputation to back them up. They can easily run away by turning off their PC's.

A problen that had been occuring here since loaning started. Even with reputation the deal could end up bad.
I also saw a lot of newbies now that are borrowing but most were denied. Because of the ranking thing the loaner could just pick people with higher ranks.
It is reasonable to reject newbie because we can easily set up newbie account, loaning is a good business,  it also can help people who in needs of money, but in bitcoin world there are too many scammers, so it is a risky business

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October 13, 2016, 06:02:32 AM
 #702

There's nothing wrong with loans as long as it will be used to gain or earn profits from it. It's bad if you borrowed money to buy something that will not give you anything in return to pay back your loan. In this forum lending is very risky since you are just dealing with a online people and nothing but online reputation to back them up. They can easily run away by turning off their PC's.

A problen that had been occuring here since loaning started. Even with reputation the deal could end up bad.
I also saw a lot of newbies now that are borrowing but most were denied. Because of the ranking thing the loaner could just pick people with higher ranks.
It is reasonable to reject newbie because we can easily set up newbie account, loaning is a good business,  it also can help people who in needs of money, but in bitcoin world there are too many scammers, so it is a risky business
It's good to help others but when you are in a business you have to protect your business, if you offer loans without proper security you will not be successful as you are just offering it for free and you might be called a charitable institution.

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October 13, 2016, 06:05:58 AM
 #703

There's nothing wrong with loans as long as it will be used to gain or earn profits from it. It's bad if you borrowed money to buy something that will not give you anything in return to pay back your loan. In this forum lending is very risky since you are just dealing with a online people and nothing but online reputation to back them up. They can easily run away by turning off their PC's.

A problen that had been occuring here since loaning started. Even with reputation the deal could end up bad.
I also saw a lot of newbies now that are borrowing but most were denied. Because of the ranking thing the loaner could just pick people with higher ranks.
It is reasonable to reject newbie because we can easily set up newbie account, loaning is a good business,  it also can help people who in needs of money, but in bitcoin world there are too many scammers, so it is a risky business
Yes there's too many scammers here who will offer hacked account or they will offer their account farmed account and you'll never hear from them anymore, lenders are left with an account that defaulted a loan, how can you sell that account to recover the loss? Safe collateral are alt coins but its very seldom that a borrower will offer alt coins to borrow.
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October 13, 2016, 07:35:08 AM
 #704

I know that loan can be pretty risky and that is why I do not like loaning money because you will have to pay it back.
I do not like living that way, I would rather save my own money for then take a loan.
A loan can be risky but if you know that you are going to be able to pay it back then you should have no worries at all.
If you do not know how to pay it back then you should never take a loan on you.
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October 13, 2016, 07:52:14 AM
 #705

I know that loan can be pretty risky and that is why I do not like loaning money because you will have to pay it back.
I do not like living that way, I would rather save my own money for then take a loan.
A loan can be risky but if you know that you are going to be able to pay it back then you should have no worries at all.
If you do not know how to pay it back then you should never take a loan on you.
Loans are  risky if you dont have the capability to pay it back same as you said. If you intend to make a loan to someone   then you  must assure yourself  that you could able to pay it back.   If you dont then you would  really have a big  problem regarding with this.

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October 14, 2016, 10:18:35 AM
 #706

Watch for what is and what is not provided by the loan sites.  Many sites that put a lender with a loan searchers give many types of services and escrow(per se) is not one of them.  Many sites grade the people searching for the loans based on a simple security system combined with feedback from past loans.  The site facilitates the transfer of funds and IF the loan is being repaid, they handle the movement of funds from person to person.  This is a useful thing because a single loan might have been funded by 100 people, so the repayment is put in the sites wallet and then auto spread to the 100 lenders.

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October 14, 2016, 10:47:48 AM
 #707

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.



When choosing where to invest bitcoins at interest, not solely on the Internet. To date, there are hundreds of exchangers that offer exchange services and withdraw crypto currency, every miner knows about such services. The future path of investment for the owner of bitcoins (after exchange) is no different from the possibilities of investment for the average investor. So, the owner of bitcoins can use the funds for further contributions in shares of large foreign companies can use for conducting trading on Forex or other investment projects
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October 14, 2016, 11:25:10 AM
 #708

Loans are good. Actually half of world is working only because of loans. Problem for Bitcoin loans is collateral.

If you own good digital collateral, even large amounts of BTC you can get.. belive me Wink
I think the problem is not on the borrower, but the lender, if you give a loan to someone make sure that you ask for a guarantee that has a high price

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October 14, 2016, 12:01:33 PM
 #709

Loans are good. Actually half of world is working only because of loans. Problem for Bitcoin loans is collateral.

If you own good digital collateral, even large amounts of BTC you can get.. belive me Wink
I think the problem is not on the borrower, but the lender, if you give a loan to someone make sure that you ask for a guarantee that has a high price
Exactly, the problem is on the lender because we are lending money without enough security so there will be no assurance that a certain borrower will pay back his loan to the borrower, that has been happening as there are really people who are not good in paying their loans but very good of borrowing money.

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October 14, 2016, 12:06:30 PM
 #710

Every loan carries with it a certain kind of risk. Even if it is a friend or a close relative it is that you are lending the money to, there is no assurance that it is going to be paid. If it is a loan with a collateral, I could have more peace of mind knowing that I can have something in case the borrower defaulted on the loan payment.


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October 14, 2016, 01:09:26 PM
 #711

If you really have that number of bitcoins well giving loans or offering loans would be bad for you or in your term risky.Because bitcointalk accounts may be hacked and use to get loans and default it

Indeed I think loans are very risky to give you could just get scammed so easily in my opinion.
Someone could take your loan and never pay you back especially if you are loaning online.
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October 14, 2016, 01:11:37 PM
 #712

If you really have that number of bitcoins well giving loans or offering loans would be bad for you or in your term risky.Because bitcointalk accounts may be hacked and use to get loans and default it

Indeed I think loans are very risky to give you could just get scammed so easily in my opinion.
Someone could take your loan and never pay you back especially if you are loaning online.
There are many opportunities to make money online when you are a businessman but I suggest do not make a loaning business, that is only good in physical world where you know exactly who your borrowers are, here in online, they can use a fake identity and that is already expected because we are in the crypto world. So it is better to be safe than sorry, be smart all the time.

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October 14, 2016, 02:01:56 PM
 #713

If you really have that number of bitcoins well giving loans or offering loans would be bad for you or in your term risky.Because bitcointalk accounts may be hacked and use to get loans and default it

Indeed I think loans are very risky to give you could just get scammed so easily in my opinion.
Someone could take your loan and never pay you back especially if you are loaning online.
There are many opportunities to make money online when you are a businessman but I suggest do not make a loaning business, that is only good in physical world where you know exactly who your borrowers are, here in online, they can use a fake identity and that is already expected because we are in the crypto world. So it is better to be safe than sorry, be smart all the time.

Yes your right, there are really lots of  business we could able   to make here on  online  world as you said lending services  would   be risky but  its really up to a person  on how  he handle  his  business properly and  i do see some stable loaning businesses and could able to handle the risk as  long you  are setting  safety precations   you couldable to lessen the risk.

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October 14, 2016, 02:08:36 PM
 #714

If you really have that number of bitcoins well giving loans or offering loans would be bad for you or in your term risky.Because bitcointalk accounts may be hacked and use to get loans and default it

Indeed I think loans are very risky to give you could just get scammed so easily in my opinion.
Someone could take your loan and never pay you back especially if you are loaning online.
There are many opportunities to make money online when you are a businessman but I suggest do not make a loaning business, that is only good in physical world where you know exactly who your borrowers are, here in online, they can use a fake identity and that is already expected because we are in the crypto world. So it is better to be safe than sorry, be smart all the time.

Yes your right, there are really lots of  business we could able   to make here on  online  world as you said lending services  would   be risky but  its really up to a person  on how  he handle  his  business properly and  i do see some stable loaning businesses and could able to handle the risk as  long you  are setting  safety precations   you couldable to lessen the risk.

Well it's something that may not have been well known by all the people who do the loan or the loan giver. but that certainly is indeed extremely dangerous loan for those who don't do it in a good way or always careless in doing so. The risk is always there and we are required to minimize the risks

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October 14, 2016, 02:39:27 PM
 #715

Watch for what is and what is not provided by the loan sites.  Many sites that put a lender with a loan searchers give many types of services and escrow(per se) is not one of them.  Many sites grade the people searching for the loans based on a simple security system combined with feedback from past loans.  The site facilitates the transfer of funds and IF the loan is being repaid, they handle the movement of funds from person to person.  This is a useful thing because a single loan might have been funded by 100 people, so the repayment is put in the sites wallet and then auto spread to the 100 lenders.

The basic form of escrow of these sites is simply a third party wallet between point A and point B.  The sites are packed with loads of info about the people and the loans and then the loans get grouped into different types and then they add ICO and IPO support.  They can be very confusing and very informative.  But, they lacking moment is the protection against defaulting. 

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October 15, 2016, 06:43:27 AM
 #716

Many sites have no collateral requirements and may or may not be prepared to assist in collateral if they two parties desire it.  The loans are repaid only if the borrower puts money into their wallet on the site.  Nothing forces this other than the desire to not lose reputation on the site.  Many scammers repay multiple loans of small amounts to look good and then bolt with the big one. 
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October 15, 2016, 08:09:45 AM
 #717

Many sites have no collateral requirements and may or may not be prepared to assist in collateral if they two parties desire it.  The loans are repaid only if the borrower puts money into their wallet on the site.  Nothing forces this other than the desire to not lose reputation on the site.  Many scammers repay multiple loans of small amounts to look good and then bolt with the big one. 
I guess that site would not be successful, and I also believe that you can only loan a little amount borrowing with less requirements. And in my case if ever I will be in need of money I am seeking for a bigger amount to be use as my capital in investment or bankroll in gambling so that would not fit for me.

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October 15, 2016, 02:27:48 PM
 #718

Many sites have no collateral requirements and may or may not be prepared to assist in collateral if they two parties desire it.  The loans are repaid only if the borrower puts money into their wallet on the site.  Nothing forces this other than the desire to not lose reputation on the site.  Many scammers repay multiple loans of small amounts to look good and then bolt with the big one. 

There are really existing lending firms/businesses  which offer  this  kind of  way on giving a  loan to people. And as you mentioned about this   techniques of scammers they would really do this things up to make theirselves as a reputable  one  but they would tend to  loan huge amounts then they dont repay anymore thats why they are some  lending service wouldnt  last on this  industry.

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2girls
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October 15, 2016, 03:00:48 PM
 #719

Many sites have no collateral requirements and may or may not be prepared to assist in collateral if they two parties desire it.  The loans are repaid only if the borrower puts money into their wallet on the site.  Nothing forces this other than the desire to not lose reputation on the site.  Many scammers repay multiple loans of small amounts to look good and then bolt with the big one. 

There are really existing lending firms/businesses  which offer  this  kind of  way on giving a  loan to people. And as you mentioned about this   techniques of scammers they would really do this things up to make theirselves as a reputable  one  but they would tend to  loan huge amounts then they dont repay anymore thats why they are some  lending service wouldnt  last on this  industry.

There are groups that work both sides, they ask for loans and using another account they back the loans. 
2girls
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October 15, 2016, 03:06:39 PM
 #720

Take away TX fees and site fees and they never lost a penny from the “loan” because they loaned it to themselves and made the borrower account look good for repaying with their own money.

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