Loans too risky?

[goinmerry]

Yeah, loaner was too risky but you cannot know it if you cannot try, because they had a lot of people who needs loan for personal interest like starting of business, thats why you need to take the risk. they have also a lot of people that trusted they thats why you need to trust and the other people trusted back to you. you need to beome an open minded regarding to the situation you have, to achieve your goal in life.,

There it is the trial and error. You dont know what could happen. So it is a big risk and you are risking your own money not other peoples money. And scammers are scattered now doing anything for an instant money.

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[MaritiJames3]

I guess so, but it all depends on the people who want to borrow it, sometimes there are people who just want to have the money, so he must ask for a loan from you, but they do not want to replace.

Loaning is not a bad thing but only if you are sure that you are going to be able to pay it back because if not then you should not loan.
Especially when you are trying to loan from a bank if you are not able to pay it back they will not even loan you the money.

Yeah it can be risky but I would not suggest that you take a loan because loaning money costs more money and I do not like the sound of that.
But if you have no other choice because you have to buy a house or something then you have to take it.

[Carlsen]

Loans are always risky.
You never know if you get your money back, especially with bitcoins where you do not know the other party.
Chances that you are getting scamed are just too high, even with escrow.

[tabas]

Loans are always risky.
You never know if you get your money back, especially with bitcoins where you do not know the other party.
Chances that you are getting scamed are just too high, even with escrow.

I agree that loans are always risky and it is both risky for lender and the borrower. The risk for the lender is that there are chances that the borrower is not going to pay the amount he paid. And for the borrower is that you might not able to pay for the loan you have paid and you aren't going to get your collateral at all.

[Xester]

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

Don't give out loans it is very risky they may run with your bitcoins and never return. And you cannot  find them anymore since they may give false identification, false IP address etc. If you wanted to give out loans then join btc jam, its better to have a third party when giving out loans just to add security. But if I were you just keep your bitcoins to yourself. Sell some when you needed a hard cash.

[Maslate]

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

Don't give out loans it is very risky they may run with your bitcoins and never return. And you cannot  find them anymore since they may give false identification, false IP address etc. If you wanted to give out loans then join btc jam, its better to have a third party when giving out loans just to add security. But if I were you just keep your bitcoins to yourself. Sell some when you needed a hard cash.

I think lending business is not profitable in the bitcoin community, we are dealing with people that we have seen face to face, we are just holding their information base on the submitted requirements, base on my evaluation lending has a huge risk that you might not collect their payments as they can easily disappear if they wish not to pay your anymore.

[yayayo]

Don't give out loans it is very risky they may run with your bitcoins and never return. And you cannot  find them anymore since they may give false identification, false IP address etc. If you wanted to give out loans then join btc jam, its better to have a third party when giving out loans just to add security. But if I were you just keep your bitcoins to yourself. Sell some when you needed a hard cash.

Frankly, I don't think that a third party like BTC jam offers any plus in security. The only thing that improves security when giving out loans is to ensure the debtor provides valid, easy to liquidate and sufficient collateral (at least valued at 120-130% of the loan amount). Without collateral, I would not give out any loan - no matter how convincing the story of the debtor may be.

I also would never give out big loans, because the risk of defaulting is just too high to cope with. Bitcoin tends to appreciate in value compared to fiat, yet most people earn their income in fiat money. Paying back a big loan can quickly become impossible if Bitcoin rises in valuation.

Overall I also think that giving out loans in Bitcoin has very high risks attached to it. So my general recommendation is stay away from lending, if you don't want to risk loosing your coins.

ya.ya.yo!

[Rastanan]

I also would never give out big loans, because the risk of defaulting is just too high to cope with. Bitcoin tends to appreciate in value compared to fiat, yet most people earn their income in fiat money. Paying back a big loan can quickly become impossible if Bitcoin rises in valuation.

The bitcoin is delationary. When people borrow the bitcoin, and they earn in fiat, they will end up paying more.

[MTBTT]

always loans are risky and with bitcoin it is more because you don't know who you are giving that amount and you have no garantis in that

I think if you were holding collateral worth more than the amount of money you lend it will be safer. make sure you're holding the collateral for each loan

[Dc147]

Giving out loans is a risky investment for minimal interest.What if the borrower default?That means you simply loose your bitcoins.Instead it would be wise to sell and invest a portion in a worthwhile business or investment that will consistently earn you decent returns till retirement.Hold the remaining for long period  let it appreciate even more!

[crairezx20]

If you can get collateral, then it will protect you some. The problem with collateral is that now you have something (like an account) that you don't really want and have to sell to get your money back.

I think accounts should not be a collateral since that kind of collateral can be an advantage if you are giving a loan. Like for example when someone wants to sell his account but no one wants to buy then they will just go to you to take a loan and give their account as collateral, it means they can easily get rid of their account.

So what do you think is better collateral? i think account be still good collateral as of now. because full member account should be have a value and you can be still sell those account for a better price depends of the quality of the account..

[CryingMidget]

Some individuals turn to the Internet to get loans because they don't have the intention to repay it back or don't have the courage to visit a bank and ask for a loan there maybe because they are unemployed or have a bad credit history. I have seen Hero members on this forum scam for a couple hundred bucks like out of the blue.

[romero121]

If you can get collateral, then it will protect you some. The problem with collateral is that now you have something (like an account) that you don't really want and have to sell to get your money back.

I think accounts should not be a collateral since that kind of collateral can be an advantage if you are giving a loan. Like for example when someone wants to sell his account but no one wants to buy then they will just go to you to take a loan and give their account as collateral, it means they can easily get rid of their account.

So what do you think is better collateral? i think account be still good collateral as of now. because full member account should be have a value and you can be still sell those account for a better price depends of the quality of the account..

If you find a much trusted user, you can consider account as an collateral. Because even with account, once after getting loan users just change the password if the lender is not serious about it.

[expert4knowledge]

Loans maybe too risky it depends upon where are you going to use or spend them. This maybe difficult for me to pay if I will use this by bitcoin unless for buy and sell but it will be a win win process. Loans in real life out of bitcoin is very useful but it depends on being smart and how you will used them. I have to make sure that if ever I file for loans and it has returns so that you will be able to pay at the right time. It is not good to have charges its another part of wasting your money better make it on time.

But it is risky and it is not always a win win process since if you lose your coins you become under risk of losing them.

[Doamader]

There are several people lending bitcoins here and for sure most of them are being scammed, meaning someone build an account, and then request a loan with it, soo they dump the account to you and you must try to sell the account to recover the money invested, its a huge risk if you like to keep your bitcoins and like they growing in number .

[expert4knowledge]

There are several people lending bitcoins here and for sure most of them are being scammed, meaning someone build an account, and then request a loan with it, soo they dump the account to you and you must try to sell the account to recover the money invested, its a huge risk if you like to keep your bitcoins and like they growing in number .

I like to find the reason those people are providing loan, are they highly benevolent people? They do a high risk low income job.

[BitcoinPaw]

It's not so risky if you are giving your money to trusted people without huge money problems, but i don't like to loan money to other people cause i'm scared about scams.

[pearnapple]

It's not so risky if you are giving your money to trusted people without huge money problems, but i don't like to loan money to other people cause i'm scared about scams.

well though it is kinda risky all the time mainly because you will not make a lot of money out of it and there is always a chance that you will be scammed by the people

[rekinthis]

It's not so risky if you are giving your money to trusted people without huge money problems, but i don't like to loan money to other people cause i'm scared about scams.

yeah, i was thinking about making money out of giving my money to other people and getting the interest though it required a lot of work, i dont think it is risky to loan money

[clickerz]

yeah, i was thinking about making money out of giving my money to other people and getting the interest though it required a lot of work, i dont think it is risky to loan money

Lending also involves risk. Much better if theres an escrow and collateral. Even theres collateral sometimes you end up buying the their account collateral.If your unlucky that account has negative trust.Lending is another way to earn but be cautious whom to lend your bitcoin. Just research before you transact.