Loans too risky?

[Mersedes]

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

Dude you are lucky enough to risk their money is silly. To give credit, you need to have the assurance that you will be paying the loan with interest. And how are you going to do it.

[bluechipinvestor]

If you can get collateral,  then it will protect you somehow. The  problem with collateral is that now  you have  something, like an account, that  you do not really want  and have to sell  to get your money back.

[Maslate]

If you can get collateral,  then it will protect you somehow. The  problem with collateral is that now  you have  something, like an account, that  you do not really want  and have to sell  to get your money back.

That would not protect you at all when that is not a hard collateral, most of the collateral online is just an account of your in bitcointalk and we know that is not valuable enough.

[dandroid]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

[Mr.grin]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

correct. I myself do not agree if it had to borrow money, even in difficult circumstances. but if the state really does not endorse and only loan that can be done, then you have to take risks by thinking about how you can return the loan. would be very risky if you can not restore it, because it can make your reputation and your last name becomes corrupted

[lionheart78]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan.  It is more difficult to get loan in bank since they are really checking you paying capability.  Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

[Yakamoto]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan.  It is more difficult to get loan in bank since they are really checking you paying capability.  Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

Yeah and those people are loan sharks; they know exactly what they're doing and they intend to get as much money out of people who are desperate enough to take their loan a possible. They exist in every country throughout the world and a lot of the time they're damn good at their job and getting their pay.

Taking a loan from a bank is typically just based on your job and ability to pay interest. If you can do all of that, then most of the time a bank will be open to give you even a small loan. Having a decent credit score is even better.

[Carmen_Sandiego]

Be cautious, because  some people are selfish and greedy , once  they get want they want. They  will no longer bother to care,  because they think taking advantage  with someone will benefit them without  thinking that they may hurt others.

[X-ray]

Be cautious, because  some people are selfish and greedy , once  they get want they want. They  will no longer bother to care,  because they think taking advantage  with someone will benefit them without  thinking that they may hurt others.

that's why you need to require atleast a collateral that worth 120% of the loan that you given or even requiring an official government document would be also a good idea for preventing any inconvenience in the future so they can't just don't care or go after having the money

[Zadicar]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan.  It is more difficult to get loan in bank since they are really checking you paying capability.  Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

Yeah and those people are loan sharks; they know exactly what they're doing and they intend to get as much money out of people who are desperate enough to take their loan a possible. They exist in every country throughout the world and a lot of the time they're damn good at their job and getting their pay.

Taking a loan from a bank is typically just based on your job and ability to pay interest. If you can do all of that, then most of the time a bank will be open to give you even a small loan. Having a decent credit score is even better.

I agree with you, there are really some individual or lending firms which do have  high interest rates and thats reality because  if someone  would have no choice  to borrow money for sure they would go to those lending firms or individual since bank loans are hard if you dont have enough to guarantee  that you can pay.

[SANALIU]

loan is not risk because your not send out your bitcoin
but if you use collateral in your loan your must savety
your must use escrow in reputable and trusted

[Sweetbtc]

I believe that loans are always going to be risky, that's why they are called loans.  Especially if you are seeking to  lend out with a lot of interest , you are definitely going  to be carrying a lot of risks on  your shoulders. I suggest that  you just hold the bitcoins  for now , considering the  possibility for future price increases.

That is why I am not taking loans even in real life because the salary that you are going to get is the one that you are going to pay for your debt plus with the interest with it. But if the advantage of taking loans is that if you are unable to buy a property or car, then you can just go to the nearest bank and have your loan but still that is going to put you in deep debt.

Yes that is the most big problem with getting loans. You dont have to pay the original amount but also interest on it. I have seen people taking additional loans just to cover the previous loans and thus falling deep and deep into the grave.

[Aamir1]

Be cautious, because  some people are selfish and greedy , once  they get want they want. They  will no longer bother to care,  because they think taking advantage  with someone will benefit them without  thinking that they may hurt others.

A scammer never thinks about others if what they would feel or what they might face if he takes the money and run away but he would just do what he wants and will take the money he needs and go away without saying anything further.

[jaysabi]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan.  It is more difficult to get loan in bank since they are really checking you paying capability.  Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

Yeah and those people are loan sharks; they know exactly what they're doing and they intend to get as much money out of people who are desperate enough to take their loan a possible. They exist in every country throughout the world and a lot of the time they're damn good at their job and getting their pay.

Taking a loan from a bank is typically just based on your job and ability to pay interest. If you can do all of that, then most of the time a bank will be open to give you even a small loan. Having a decent credit score is even better.

If someone is willing to pay the interest rate, that's the market rate for the loan. Nobody is forcing anyone to borrow money, and there is certainly no shortage of places to borrow from, so competition keeps the rates pretty fluid. If someone is paying a high interest rate, it's because the lender is taking on a big risk by lending money to them. Lending and baking are not charity businesses, nobody should expect them to take on a financial risk without the commensurate potential reward for doing so.

[Superbitzz]

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

Dude you are lucky enough to risk their money is silly. To give credit, you need to have the assurance that you will be paying the loan with interest. And how are you going to do it.

yes that is a fact, returning loan with interest is very difficult, because it is not sure that either you can earn money or not but you must have to return the money in with interest,

[michelle1845]

I think the loan will only make us lose,  it is better to use bitcoin we have than to lend  it to someone else. And it is also  not hundred percent that bitcoin that you lent will be returned...

[20kevin20]

I think the loan will only make us lose,  it is better to use bitcoin we have than to lend  it to someone else. And it is also  not hundred percent that bitcoin that you lent will be returned...

I was always afraid of these lendings, because I've seen too many scams around. It looks good for a small investment, but at the same time.. You never know when it happens.

[uname]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

yeah make sure that you do not have other options to get the money. if I do not have any other options maybe you can try to think about the loan? yeah because interest could have been giving you a hard

[Maslate]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

yeah make sure that you do not have other options to get the money. if I do not have any other options maybe you can try to think about the loan? yeah because interest could have been giving you a hard

Never borrow money if you just gonna be using it for leisure, you will be paying the interest expense and you will ruin your budgeting because you force to spend on things you cannot afford yet, you need to save to spend on your wants.

[goinmerry]

It depends on how much you  are going to loan ass well  and if you are able to pay it back . You should  only take a loan if you have to buy  something that you really need  and if you are able to pay it back.

yeah make sure that you do not have other options to get the money. if I do not have any other options maybe you can try to think about the loan? yeah because interest could have been giving you a hard

Never borrow money if you just gonna be using it for leisure, you will be paying the interest expense and you will ruin your budgeting because you force to spend on things you cannot afford yet, you need to save to spend on your wants.

True. In my case, I would just borrow money if I really needed to pay a large capital to where I know I could get it back with some profits and the interest should also be payed. That way trust will be built to both loaner and borrower.