Loans too risky?

[OROBTC]

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With the price of Bitcoin going up so fast, there is additional risk for the creditor!  What if the borrower cannot make money fast enough to keep up with the increase of BTC's price?

At $710 (or so last I checked), BTC is up some 40% in just a week or so.  I would never loan (nor borrow) any asset like that in this kind of environment.  Default risk is just too high.

[outatime1]

loaning is always risky because it is anonymous. You really don't know who to trust. The best thing to do is get some kind of collateral in case the borrower defaults on the loan, at least you get something to help cover your loss.

[boyptc]

loaning is always risky because it is anonymous. You really don't know who to trust. The best thing to do is get some kind of collateral in case the borrower defaults on the loan, at least you get something to help cover your loss.

In loaning the risk is really always there, and that's what you need to accept the fact.  And the consequences also are there that chance of after giving loan to the people and they will not pay for it, that's why it is risky and you need to get collateral for it.

[goinmerry]

If you already had 800 BTC, I suggest you stay out of this loaning thing cause you can lose it. I suggest that you do some trading, get 1 BTC out of it, buy altcoins, then sell when it gets high just do some research first before buying.

And yeah, if you already had 800 btc you don't have to lend it to the people because it is very risky even you have a lot of it, 1 btc is only nothing for you. But if you are that conscious with your money. Better to hold it, just like the bitcoin millionaires do, they are just holding it and not getting into loaning service.

Well up to a person if it's still going to make a loan.

There are loans that can be sorted out to different people if you like to do so e.g "I know you for a long time" , "I know you can pay" or something like that. If that's is the case then a person can give outs loan.

I would prefer to loan that way also. Like friends here who have been there for you. No risk in giving them loan and so what if they run I also benefit from their help and more.

Well that's a better way of lending your money to your friends. As long as you know the people that borrows your money then you have assurance on how you are going to collect the money they borrowed.

Assurance. Yes that is what we are looking for everything we let other people borrow something from us. Assurance that it will be back to us in this case there is a percentage for profit. I would still pick whom I will lend my money to.

[Zooplus]

Loans are really risky when bitcoins are being disburse, we cannot have an assurance that a certain person would really pay even if you have all of his/her information. The risk is high so the interest should follow. Since bitcoins has not been legally adopted by the government then filing a case for a default borrower would not be possible. The technique there in order to minimize the risk is you find a good volume of borrowers and lend only with a small amount with a high interest.

[Jmild1]

loaning is always risky because it is anonymous. You really don't know who to trust. The best thing to do is get some kind of collateral in case the borrower defaults on the loan, at least you get something to help cover your loss.

In loaning the risk is really always there, and that's what you need to accept the fact.  And the consequences also are there that chance of after giving loan to the people and they will not pay for it, that's why it is risky and you need to get collateral for it.

Its true that loans are too risky so before you do it get a collateral.
I think loaning yung bitcoin for now is good because it has a high value so it means when you loan you get a higher collateral value too.

[tabas]

Loans are really risky when bitcoins are being disburse, we cannot have an assurance that a certain person would really pay even if you have all of his/her information. The risk is high so the interest should follow. Since bitcoins has not been legally adopted by the government then filing a case for a default borrower would not be possible. The technique there in order to minimize the risk is you find a good volume of borrowers and lend only with a small amount with a high interest.

I agree loans are really risky, not just in bitcoins but also in real money. The essence of loaning is together with the risk, because you need to lend
your money not knowing if your borrower will going to pay you back or not. But still you need to take the advantage to take a good collateral.

[goldcoinminer]

Loans are really risky when bitcoins are being disburse, we cannot have an assurance that a certain person would really pay even if you have all of his/her information. The risk is high so the interest should follow. Since bitcoins has not been legally adopted by the government then filing a case for a default borrower would not be possible. The technique there in order to minimize the risk is you find a good volume of borrowers and lend only with a small amount with a high interest.

I agree loans are really risky, not just in bitcoins but also in real money. The essence of loaning is together with the risk, because you need to lend
your money not knowing if your borrower will going to pay you back or not. But still you need to take the advantage to take a good collateral.

For me there is a difference with real money and bitcoins. Real money are regulated by the government and you can enter into contract when a person borrows from you, in case of lawsuit you can easily take the case in the court unlike bitcoins where it is really hard for you to do legal actions.

[bitlancr]

of course it is very risky.
at first they wanted to borrow money or bitcoin we have to face that really should be loaned out, and when they have money, they probably will not return and instead use it for other purposes. beware lending

Yeah if you are going to lend money from the bank or some other person be sure that you can pay it back, otherwise you will be get your self in to trouble.

[DarkThrones]

I would hate to be stuck trying to pay back a loan as the loan keeps increasing it's price day by day. Normal people can't afford that so the loaner often has several debts default and loses money because the collateral is not worth as much as the end btc

[7788bitcoin]

Taking loans to buy bitcoin, hoping it will increase in price, is extremely risky. At the moment, we should just invest what we are afford to lose...

[praprata]

Loans can be pretty risky but only for that people that are not able to pay it back, if you are able to pay back your loan then you do not have to worry.
But do not go and take a loan to gamble because if you do that you are just asking for trouble.

[arwin100]

Loans are really risky when bitcoins are being disburse, we cannot have an assurance that a certain person would really pay even if you have all of his/her information. The risk is high so the interest should follow. Since bitcoins has not been legally adopted by the government then filing a case for a default borrower would not be possible. The technique there in order to minimize the risk is you find a good volume of borrowers and lend only with a small amount with a high interest.

I agree loans are really risky, not just in bitcoins but also in real money. The essence of loaning is together with the risk, because you need to lend
your money not knowing if your borrower will going to pay you back or not. But still you need to take the advantage to take a good collateral.

But really we should calculate our money plan to be loan so we can pay it immediately on due date of our loan and im very sure no lender will accept a loan without a collateral thats why we must be wise to lend and just lend what you cam afford tp pay so we cannot get a hard time to pay our debts, and that may lead to lose our precious collateral, thats why i really avoid loaning because i dont want hassle and headache for remembering my debts to pay in time.

[goinmerry]

Loans can be pretty risky but only for that people that are not able to pay it back, if you are able to pay back your loan then you do not have to worry.
But do not go and take a loan to gamble because if you do that you are just asking for trouble.

Gambling will make you loan again and maybe lose again. Greed is always there whenever you win a lot. Loans are like the same, we as the loaner will gamble our money to a known person in a forum not even seeing his face.

[goldcoinminer]

Loans can be pretty risky but only for that people that are not able to pay it back, if you are able to pay back your loan then you do not have to worry.
But do not go and take a loan to gamble because if you do that you are just asking for trouble.

Gambling will make you loan again and maybe lose again. Greed is always there whenever you win a lot. Loans are like the same, we as the loaner will gamble our money to a known person in a forum not even seeing his face.

If you already go into the point that you will borrow money just to finance your gambling habits, I would say that it is the stupidest idea because you are making your self more vulnerable to self destruction in the future. It is better for you to take loans and invest it with online gambling sites.

[sishendaoye]

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

Taking a loan could be pretty risky but only if you are not sure if you are able to pay it back then it is risky. You should only take a loan of you really need it and if you are sure that you can pay it back.
If that is not the case I suggest that you do not lend any money because it will get you in trouble.

[goldcoinminer]

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

Taking a loan could be pretty risky but only if you are not sure if you are able to pay it back then it is risky. You should only take a loan of you really need it and if you are sure that you can pay it back.
If that is not the case I suggest that you do not lend any money because it will get you in trouble.

I think the risk is more on the lender and not the borrower, because if a borrower will default or will not pay the long, the lender cannot make necessary actions to sue the borrower because this currency is not recognized by the government and no legal basis of contract the bind the transacting party.

[Bitcoinbro]

Loans can pretty risky to take and I suggest that you will never take a loan unless you really need it, the bank is not going to lend to much money without a good reason for it.
The risky part is if you are going to be able to pay it back because if not you will get your self in some trouble.

[Zooplus]

Loans can pretty risky to take and I suggest that you will never take a loan unless you really need it, the bank is not going to lend to much money without a good reason for it.
The risky part is if you are going to be able to pay it back because if not you will get your self in some trouble.

Well I agree with you. Loans ain't good because even if you pay it you pay more. Well if you can't pay it then your in more trouble because of loans.

That is not the main reason why loan are risky in the community because even rich take loans to improve and expand their businesses, the big risk is always on the lender my friend.

[plost24]

yeah there is so much scammers who loan and don't payback so if you want to loan you just need to know that person really good to assure that he will pay you back, anyway there is so many people loan money but don"t have a strategy to make profit and have the right amount to pay.
or just to gamble with them and try his luck and that is a greater mistake.