Loans too risky?

[actmyname]

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.

Except it's not. The accounts are usually trash (for those who seek loans and default them) and if they're not bad then most likely the lendee won't bother with defaulting - they'll rather sell the account itself.

You want to look for real collateral, not BCT accounts.

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[heldertb]

Yes they are too risky, there are right now too many scammers around here that are most likely gonna scam you and run away with the money itself.
We need some kind of system that makes it possible and secure so people cannot scam you at all if you are giving loans away.

you don't worry you are giving loans that time you are taking some thing for secure from people, If people will scam with you then you can reserve on it and you go polish and search him take your money with scammer and put him in the jail.

[Zeke2345]

Most loans are for gambling so you might as well flip a coin when it comes to getting paid. The only redemption is you can often sell the bitcoin account for more than the loan.

[malzahar]

Most loans are for gambling so you might as well flip a coin when it comes to getting paid. The only redemption is you can often sell the bitcoin account for more than the loan.

Some and very few can be legit purposes.

But yeah the overwhelming majority are used for gambling, with their covered stories for saying its for mining or whatever.

Then they just bail on their account.

[dollarneed]

i think loan is literally same like gambling, the different is when you lose or someone scam you,you can sell the collaterall which is has high price more than you give to him, there is no business is not risky, the point is how you can understand the system and handle it properly

[iv4n]

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

This must be a joke? I don't know why people talk with this guy about lending. He didn't need to ask nothing, all this is explained many times before. Who goes around and talk about how much bitcoins have in wallet? 800 btc and he doesn't know what to do ha ha ha funny.
And this is even not something new, from time to time someone come write same thing. Im even lazy to find similar threads cause I believe some people know what am I talking about.

97 % this guy is lying and 3 % he is telling the truth.  We can put some bets and if OP have so much money he can start with a little casino here. He have enough to be a house.

[Herbert2020]

any business that you do has some kind of risk(s) that you need to deal with appropriately in time. you can never find a business or an investment that is free of risk it can only be minimal near zero.

and to avoid risks or to reduce the chance of it happening you have to insure your self, for example by taking a valid collateral first.

[ajrah]

I think it is risky because if you won't paid your amount of loan on that agreement date your account will be taken by the loaner.
Much better to loan on the bank than in this forum ,it is better to not risk your own account.

[plost24]

I think it is risky because if you won't paid your amount of loan on that agreement date your account will be taken by the loaner.
Much better to loan on the bank than in this forum ,it is better to not risk your own account.

i don't know why people are taking loan in bitcoin if it is a urgent you can go to bank and have a loan but most of loaner are making loan to gamble with them but the problem if they are not lucky and lose all they will have no fund to pay back.
if they will pass the time making signature campagn and then gamble with them it will be beter and you will collect more and raise in your rrank too and if you need money just sell your account.

[Sithara007]

It depends up on the person who borrow the money from the bank. We should give back the installments in banks in each month without dues. Some people fail to repay the money in banks, thereby risking default. Finally, the borrower will be left in a very bad financial state.   

[quentincole32]

Most loans are for gambling so you might as well flip a coin when it comes to getting paid. The only redemption is you can often sell the bitcoin account for more than the loan.

that's why people said that loan bitcoin is too risky,because they loan it for gambling,we know that gambling is fivety percentage to won and fivety percentage lost,so you have double risk if loan bitcoin for playing gambling,its better to loan bitcoin for buy something,and make sure you have passive earning to pay it.

[ronaldinho_07]

Well banks can negotiate the debit,soo its a question how to talk and search a way to all be able to fix such issue.Lendings can be profitable and the risk is very involved ,but here as i saw people ask for valid colaterals soo they are sure if the person default they can sell the colateral to recover .

[techgeek]

Well banks can negotiate the debit,soo its a question how to talk and search a way to all be able to fix such issue.Lendings can be profitable and the risk is very involved ,but here as i saw people ask for valid colaterals soo they are sure if the person default they can sell the colateral to recover .

If anything they are the ones who get the printed profit out of thin air basically for every loan.

And everything possible debt, can be sold off to another bank that they do behind closed doors.

[Laosai]

Well banks can negotiate the debit,soo its a question how to talk and search a way to all be able to fix such issue.Lendings can be profitable and the risk is very involved ,but here as i saw people ask for valid colaterals soo they are sure if the person default they can sell the colateral to recover .

Serious lending starts without the collaterals.

As long as you require a collateral you don't lend large amounts of moneys.

It's when you start to make contracts with people that you start big business

[ronaldinho_07]

Well serious lenders without collateral will get scammed thats a fact.Banks before grant any loan they ask you your montly income,if you have a job otherwise they wont lend you money they believe you cant pay.

[iram66680]

Giving out a loan nowadays is very risky in my opinion because people can not be trusted with bitcoin that they don't earn. They have tendencies to lie about what the reason is they need the loan and usually end up spending it on another thing. These things can range from drugs to gambling to webcam accounts.
You just don't know for sure, so my advice is to not give out a loan to anyone even the ones you trust.

[plost24]

Giving out a loan nowadays is very risky in my opinion because people can not be trusted with bitcoin that they don't earn. They have tendencies to lie about what the reason is they need the loan and usually end up spending it on another thing. These things can range from drugs to gambling to webcam accounts.
You just don't know for sure, so my advice is to not give out a loan to anyone even the ones you trust.

yeah you are right there is no need to give a loan to someone if he need money he will work hard to get it not just ask for it.
and that can explaine that person is too lazy so how you expect that he will give this money back to you with a profit.
is you use that money in other think you will get x10 the profit you will get from that loan.

[romero121]

Well serious lenders without collateral will get scammed thats a fact.Banks before grant any loan they ask you your montly income,if you have a job otherwise they wont lend you money they believe you cant pay.

Agreed, something without proper collateral will be a scam as well users should never think of giving loans before receiving the collateral.

[ronaldinho_07]

Giving out a loan nowadays is very risky in my opinion because people can not be trusted with bitcoin that they don't earn. They have tendencies to lie about what the reason is they need the loan and usually end up spending it on another thing. These things can range from drugs to gambling to webcam accounts.
You just don't know for sure, so my advice is to not give out a loan to anyone even the ones you trust.

Well i always listen ¨wanna loose a friend lend money to him/her¨ i had a person that i consider as a brother ,asked me for a loan,i hadnt the full money soo i went into my limit to help that person,guess what a years has passed and the people didnt repay full ammount missing 1 btc to quit,and without any interest,i had received the rest because i made pression,nowadays i just hope to dont cross with that person.Soo the moral of the history dont lend without any colateral being parent or not just dont do it,otherwise you will be taking a huge risk to loose those money.

[quentincole32]

Yes they are too risky, there are right now too many scammers around here that are most likely gonna scam you and run away with the money itself.
We need some kind of system that makes it possible and secure so people cannot scam you at all if you are giving loans away.

scammers not just on loan service,every transaction can be scammed,loan bitcoin not risky if we know how to looking for best escrow and lender,in this forum i believe still many people who have good trust,so dont afraid to loan something.