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Author Topic: Loans too risky?  (Read 62011 times)
MONKEYJUNK
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November 17, 2016, 05:01:01 AM
 #881

yes it's risky so better look out for an escrow. but loans are really risky as we know because if you're gonna loan with bitcoin you're sending and receiving anonymously more or less it's not a secured process when it comes in lending/loaning bitcoins.  and if asking for a collateral accounts in bitcoin is not that much less risky . much better stay out of loan but we know that we need to trade and loan/lend to make our bitcoin grow. if i where you im gonna invest more bitcoin and stay out of this kind of business. there's a lot of scammers this days so be vigilant.

What? How can you use escrow in a loan? The other side need the money.

Collateral must have worth 120%+ so you can have protection against scammers, that's not hard to make business with lending. No collateral, no loan.
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November 17, 2016, 05:52:58 AM
 #882

yes it's risky so better look out for an escrow. but loans are really risky as we know because if you're gonna loan with bitcoin you're sending and receiving anonymously more or less it's not a secured process when it comes in lending/loaning bitcoins.  and if asking for a collateral accounts in bitcoin is not that much less risky . much better stay out of loan but we know that we need to trade and loan/lend to make our bitcoin grow. if i where you im gonna invest more bitcoin and stay out of this kind of business. there's a lot of scammers this days so be vigilant.

What? How can you use escrow in a loan? The other side need the money.

Collateral must have worth 120%+ so you can have protection against scammers, that's not hard to make business with lending. No collateral, no loan.
Escrow is needed when an account will be your collateral for availing loan, that's normally the procedures for micro loans here but I have not tried loaning because I do not want to compromise my one and only account. When I need money, I make it a point that I will just borrow in a lending business rather than here.

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November 17, 2016, 06:10:45 AM
 #883

Is there any thing that is not risky? Actually in the "real world" loan is not that risky because of the fact that the individual can be verified and also the collateral can equally be verified but on a forum like this you just have to rely on trust in which most people dont value even the accounts that is mostly used as collateral and I have seen, even after reading a lot of thread could be compromised and the individual, abandon everything all together. This and many other reasons makes it very risky but with various controls put in place, it ca definitely be controlled.

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November 17, 2016, 06:12:38 AM
 #884

Is there any thing that is not risky? Actually in the "real world" loan is not that risky because of the fact that the individual can be verified and also the collateral can equally be verified but on a forum like this you just have to rely on trust in which most people dont value even the accounts that is mostly used as collateral and I have seen, even after reading a lot of thread could be compromised and the individual, abandon everything all together. This and many other reasons makes it very risky but with various controls put in place, it ca definitely be controlled.
That's still has the risk, but in real world the risk is less compared to the online world. You are right, you can verify the information of loan applicants because you can see in them in actual.



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November 17, 2016, 06:18:06 AM
 #885

Loans are really risky but not for the borrower, obviously the risk is on the lender as borrower will not choose to pay if he is not a good payer. There are many scammers online so we need to be careful if we plan to have this kind of business. I would not recommend so, because the risk does not commensurate the income.
therefore before you give a loan to someone make sure that they are a trusted person, or you must get a guarantee that has a higher price than they asked for

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November 17, 2016, 06:27:50 AM
 #886

Loans are really risky but not for the borrower, obviously the risk is on the lender as borrower will not choose to pay if he is not a good payer. There are many scammers online so we need to be careful if we plan to have this kind of business. I would not recommend so, because the risk does not commensurate the income.
therefore before you give a loan to someone make sure that they are a trusted person, or you must get a guarantee that has a higher price than they asked for

If you are a wise  investor  especially when you do  lending  business  you should  really  be smart  enough    to  mind of the  possible risk that may  happen  on  lending  money  to other people.  Lending  is  a risky business on   the lendors  side  because  anyone could  not   pay the said  loan thats  why  we  should really  think of   strong   back-ups   like   requiring   a  strong  collateral  for their  loan,  if they  intend to  make a  loan  they  should always  prepare a  good  collateral and be sure the  value  is  high compared  to the said  loan amount.

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November 17, 2016, 06:30:34 AM
 #887

Loans too risky for unknown peoples, For example If you want to loan some BTC
You must get the same value from him ( documents , accounts etc.. ) because if one day he will run with the money, You can catch him
Nowadays, There is high number of scammer who want to steal money from others.
Then, don't Trust anyone.
Loaning business is  really a risky   investment and  scammers  are there  always even  on  offline  or  physical world. The  difficult thing  on  online world that  anybody could  use  anyones identity  just to  hide themselves  even  they present and  give you the documents that you need   you arent still assure that  it was a legit person.
That's right, you cannot just establish a lending business here without considering the risk. In my case, I would not have that kind of business online as I believe it is more profitable to have a lending business in the physical world. Take it from me who have experience working in a lending company.

I agree and I also believe that it is more profitable and safe as well if your going to have a lending business out of the internet , it will be safe because you can have the information and identity of the person who wants to apply a loan from you personally and you can have a legal paper in order to avoid some unwanted consequences .

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November 17, 2016, 06:45:10 AM
 #888

Loans are really risky but not for the borrower, obviously the risk is on the lender as borrower will not choose to pay if he is not a good payer. There are many scammers online so we need to be careful if we plan to have this kind of business. I would not recommend so, because the risk does not commensurate the income.
I think lending is good business to grow bitcoin, of course there is a risk that is always there, but the risk can be minimized by requiring a high assurance, so that if they do not pay you still have that assurance


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November 17, 2016, 08:29:11 AM
 #889

Loans are really risky but not for the borrower, obviously the risk is on the lender as borrower will not choose to pay if he is not a good payer. There are many scammers online so we need to be careful if we plan to have this kind of business. I would not recommend so, because the risk does not commensurate the income.
I think lending is good business to grow bitcoin, of course there is a risk that is always there, but the risk can be minimized by requiring a high assurance, so that if they do not pay you still have that assurance
The problem is the assurance you are talking does not exceed therefore lending is very risky, even if there's a collateral you cannot still ensure this people you are lending with your money will be able or willing to pay, the question is how would you convert the collateral into cash once they failed to pay you.

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November 17, 2016, 10:29:58 AM
 #890

Lending is a good business yes but you should keep in mind that not all loaners will pay even with a good collateral sometimes they just leave their collateral to the lender because they really does not want to pay. Here in Bitcointalk most of the loaner gives Bitcointalk account as a collateral, it is a good collateral as long as they signed the message incase they don't pay you can easily sell those accounts. But again as a lender you should prepare yourself for an event wherein loaners will not pay you.


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November 17, 2016, 11:40:46 AM
 #891

Loans are really risky but not for the borrower, obviously the risk is on the lender as borrower will not choose to pay if he is not a good payer. There are many scammers online so we need to be careful if we plan to have this kind of business. I would not recommend so, because the risk does not commensurate the income.
I think lending is good business to grow bitcoin, of course there is a risk that is always there, but the risk can be minimized by requiring a high assurance, so that if they do not pay you still have that assurance
if the loans business were using bitcoin as the main currency then i guess there's no assurance to cover this since it's using cryptocoin,if that so then assurance is useless in this case,the risk of losing money on loan is just worth it if you calculate with the profit you will get

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November 17, 2016, 03:21:17 PM
 #892

Lending is a good business yes but you should keep in mind that not all loaners will pay even with a good collateral sometimes they just leave their collateral to the lender because they really does not want to pay. Here in Bitcointalk most of the loaner gives Bitcointalk account as a collateral, it is a good collateral as long as they signed the message incase they don't pay you can easily sell those accounts. But again as a lender you should prepare yourself for an event wherein loaners will not pay you.

Indeed mate.. It's a risky to have a lending business.. I agree most of lenders don't really have a plan to pay you especially if the loans too big. These are the common factors that will let your business drop and the problem is that once they run away you can't do anything to get your money back.

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November 17, 2016, 03:44:01 PM
 #893

Well at this forum i had read several times people does wanna loans for gamble purposes, with that said there is a big risk the person does loose it gambling and they the lender must need to sell the colateral, some people really dont need or care about the bitcoin since they got them with their user accounts.


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November 17, 2016, 07:04:51 PM
 #894

All investment activities and work with finances - is the risk. We need to all be approached wisely and if these risks are reduced
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November 18, 2016, 05:42:07 AM
 #895

Well at this forum i had read several times people does wanna loans for gamble purposes, with that said there is a big risk the person does loose it gambling and they the lender must need to sell the colateral, some people really dont need or care about the bitcoin since they got them with their user accounts.

If I will be the lender I won't allow someone to borrow bitcoins from if that would be the reason but still we can't assure even a borrowers reason will be changed. Still we can be uncertain, because they can just reason anything just to cover the main reason why they are borrowing and that will be gambling, so loans are the riskiest industry in finance and bitcoin.
For sure that person will not be able to repay the loans, no easy money in gambling and it's uncertain. Regardless of the reason it is still not advisable to lend a big amount of money here in the forum as that is too risky knowing we do not know our clients.

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November 18, 2016, 06:07:27 AM
 #896

Well at this forum i had read several times people does wanna loans for gamble purposes, with that said there is a big risk the person does loose it gambling and they the lender must need to sell the colateral, some people really dont need or care about the bitcoin since they got them with their user accounts.

If I will be the lender I won't allow someone to borrow bitcoins from if that would be the reason but still we can't assure even a borrowers reason will be changed. Still we can be uncertain, because they can just reason anything just to cover the main reason why they are borrowing and that will be gambling, so loans are the riskiest industry in finance and bitcoin.
For sure that person will not be able to repay the loans, no easy money in gambling and it's uncertain. Regardless of the reason it is still not advisable to lend a big amount of money here in the forum as that is too risky knowing we do not know our clients.

For the purpose of gambling if someone asks for bitcoin, then the risk involved is high as mentioned in the above quote. This is because of there is no assurance that the user wins, so lending would be effective for the purpose of business start-ups and trading needs.



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November 18, 2016, 08:04:03 AM
 #897

Well at this forum i had read several times people does wanna loans for gamble purposes, with that said there is a big risk the person does loose it gambling and they the lender must need to sell the colateral, some people really dont need or care about the bitcoin since they got them with their user accounts.

If I will be the lender I won't allow someone to borrow bitcoins from if that would be the reason but still we can't assure even a borrowers reason will be changed. Still we can be uncertain, because they can just reason anything just to cover the main reason why they are borrowing and that will be gambling, so loans are the riskiest industry in finance and bitcoin.
For sure that person will not be able to repay the loans, no easy money in gambling and it's uncertain. Regardless of the reason it is still not advisable to lend a big amount of money here in the forum as that is too risky knowing we do not know our clients.

For the purpose of gambling if someone asks for bitcoin, then the risk involved is high as mentioned in the above quote. This is because of there is no assurance that the user wins, so lending would be effective for the purpose of business start-ups and trading needs.


In my personal experience aside from bitcoin, a friend of mine ask me personal money and promised to return the amount after he won the gambling of cock fighting but suddenly after the promise risk is there and resulted to nothing was returned to me. Risk is always a risk after all so much more with bitcoin if your friend or someone in a group friends of btc user who ask for something you have no assurance at all but there were few who can fulfill their promises, same as the one who doesn't.


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November 18, 2016, 08:13:04 AM
 #898

Well at this forum i had read several times people does wanna loans for gamble purposes, with that said there is a big risk the person does loose it gambling and they the lender must need to sell the colateral, some people really dont need or care about the bitcoin since they got them with their user accounts.

For whatever purpose someone might take a loan, if he is a scammer, he would be a risky fellow for the lender, so sometimes it really becomes risky to give away loans to the community, though you select the trusted people sometimes, but it still turns out wrong at the end because there are some people who buy or trade positive trust on this forum for such activities.
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November 18, 2016, 08:20:51 AM
 #899

Well at this forum i had read several times people does wanna loans for gamble purposes, with that said there is a big risk the person does loose it gambling and they the lender must need to sell the colateral, some people really dont need or care about the bitcoin since they got them with their user accounts.

For whatever purpose someone might take a loan, if he is a scammer, he would be a risky fellow for the lender, so sometimes it really becomes risky to give away loans to the community, though you select the trusted people sometimes, but it still turns out wrong at the end because there are some people who buy or trade positive trust on this forum for such activities.

That's for sure. It is very hard to find an honest man. Sometimes deceive even those people who have a good reputation
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November 21, 2016, 11:24:05 AM
 #900

Loans are really risky but not for the borrower, obviously the risk is on the lender as borrower will not choose to pay if he is not a good payer. There are many scammers online so we need to be careful if we plan to have this kind of business. I would not recommend so, because the risk does not commensurate the income.
I think lending is good business to grow bitcoin, of course there is a risk that is always there, but the risk can be minimized by requiring a high assurance, so that if they do not pay you still have that assurance

Actually, Lending is very good business, but once you take this business, make sure that you are ready to face the consequences. Your concept was already whole, i mean all the possibilities in entering this business was already have formula to answer the situation. Giving Loans  via virtual world is much riskier than giving loan and you have office that they can inquire with. Having physical office was more practical in this kind of business. Get a person that  had experience with this kind of business.

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