Loans too risky?

[fiulpro]

Oh man 800 btc ..way to go...well loans are risky...
It depends upon the person you want to give the loan to..if udk him that well..there isn't any documentation
..bad idea...very bad idea..
You should just invest them..in something else...cash them out when the value is high..its safer n better
..best of luck
..

[frowsiter]

It's too risky as long as the funds are not being escrowed or something similar. Just imagine giving away your money over the internet and there won't be much proof to be collected from the end user then how can you expect them to come back and give you interest plus compound to you.


The interest rates are also heavy from two percent per day to more than that if amounts are big. There is only one way to do this business securely and that's your family and friends. You could just loan these people with atmost security as you know them personally and can trust them. Don't really trust sites likes lovalbitcoin and all.

[Kotone]

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

Loaning is always a huge risk. Loans represent that you have a funds that you might get lost due to the loaner or borrower disappearing or failing to repay you completely. However once can still take note that loaning also represent a business that cna be considered profittable.

[Markzuckertion]

They aren't risky if you or any trusted thirdparty holds collateral up to 140% of the loan value.

I think loan is not really good good business,  it will not grow much.  You better start to trading, there are more chance to get profit.

[alva 666]

all bitcoin system is too risk this is the reason why you can earn so fast

[jekjekman]

This is one hell of a bitcoin though!

You just bought it back in 2010 with only $0.07 a piece then you still hold it and have access to. How I wish you still hold this amount as it grows times 10 today compare to the day that you posted this thread.

So getting back to the point about loaning, it is indeed a good business if you have the authority to get a collateral for each people that will borrow bitcoin from you but if not then it is a lose-lose situation as lending people with no physical thing or any other things that has value in your possession will only lead them not to pay you back.

I hope that you will update this thread of yours very soon as I am got interested with this because you have shown a proof that you really have it.

[Strught85]

I feel Bitcoin loans are quite dangerous, primarily due to the fact of the reality that there are also several scammers functioning on the web. Despite the earning prospective, you need to have to consider additional treatment in this subject.

[flower1024]

Oh man 800 btc ..way to go...well loans are risky...
It depends upon the person you want to give the loan to..if udk him that well..there isn't any documentation
..bad idea...very bad idea..
You should just invest them..in something else...cash them out when the value is high..its safer n better
..best of luck
..

800 BTC OMG if we can convert it into present bitcoin rate $3.5 million. Seriously if i have this much money i will not lend and not do anything every month end i will sell come bitcoins and live my life with that money. I think he can open a software company with that money. Don't lend and waste your coins mate just invest in the good project and enjoy your life.

[GreenBits]

Loans are a risky venture, irrespective of what currency they are in. to be honest, a crypto loan is a bit easier to facilitate successfully. the ease of transferring funds means a collateral backed loan can be cheaply and easily executed by a trusted escrow. but thats where it breaks down.

loans are essentially liquidity solutions. ill borrow money against my land, for example, because I want to use the value my land represents, rather than actually liquidate it. so if Im going to use another cryptographic asset, given how quickly it goes here to switch between currency types, if you have the value, why not just convert it and do it yourself? unless you are taking out an unsecured loan, they dont seem as effective as they are in the Real World.

and we all know how unwise unsecured loans are

[Rinder]

Well loans arent an easy place to be neither to invest, btcjam started those and well even with some sucess projects and honest people under them we had a lot scamms that damaged more the concept them really helped. Some exchanges did found a suitable option to make those loans to work reducing a lot the risks. At this forum i were able to see and follow some sucess business being active and live for a long period like zazarb, soo if you take some measures and follow your own rules your risk will be near zero. Unless bitcoin does loose its value from day to night the risk is near zero.

[Lecsor]

I would not trust my coins to anyone. Well, maybe only on one condition - this person will give me his property as collateral. This will ensure that the loan will be returned. It seems to me that here the risk is higher than the profit

[Mikasa77]

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

Loans are not too risky if you know what should you do after a loan. Before applying a loan, you should have your goal first why you have to loan a money. Is it for business? Or anything that you want to buy? For investment? You should set your goals first in order for you to prevent loss.

[klf]

I feel Bitcoin loans are quite dangerous, primarily due to the fact of the reality that there are also several scammers functioning on the web. Despite the earning prospective, you need to have to consider additional treatment in this subject.

You no need any additional protection as long as you hold the collaterals. You should follow a simple rule that no collateral means no loan then you will never make a loss from this business. Your collateral should cover your initial amount and interest amount then you will be making always profit. Don't believe anyone just believe collateral then lending business never goes wrong.

[krigger]

The purpose of giving a loan is to help someone in need, but you don't ever give one without collateral of greater value.

[Therly]

yeah for me it is way too risky since with loans i may get rid of a great deal of income to be honest

[StarofBTC]

They aren't risky if you or any trusted thirdparty holds collateral up to 140% of the loan value.

You may be right but I will slightly contradict to what all you have said. I think loans to be very much risky. I will never appreciate anyone to go for loans.

If you have made up your mind to get loan, then you need to be very much careful in deciding where to invest that money. You need to be over smart if you want to earn money.

[mallboat]

For me loans are very risky because what if the time comes you cannot pay that loan? what is your collateral used in that loan? When you pay late it has an additional interest and late charges fees. If you cannot fullfill your loan responsibility better not to borrow money from financing institution it could only make your life misserable. if you want to invest in crypto currency you should save so that you dont need to borrow money for your investments.

[CheeseZineSlash]

   Loans without having legitimate collateral are really dangerous, collateral need to have greater price then bank loan. In that circumstance loaner can make income with selling collateral to an individual else.   If loaner do company like this, there is no chance for his bank loan. Banking companies are producing profit for many years in this way, mortgage sharks also. Risky perform, but they are close to so several hundreds of years that its visible how a lot revenue thwy make every 12 months.   I took bank loan from lender, and I'm having to pay them back again every thirty day period for that. I necessary money and for me that was only way to purchase cash without performing some thing unlawful.

[plurred12]

Yes indeed loans are too risky if you are not capable of paying the loan why should you loan. In acquiring a loan you should consider what are your resources in paying those loans? Do you think you can pay on time? Is your salary enough to pay those debts? If you will use that loan in trading how are you sure you will earn on that particular trading? Those are the questions to consider in acquiring a loan. Loan is very risky we dont even know if we can pay it on the long run. I would have choose to save rather than taking a loan because i am not sure if i could pay on time.

[batang_bitcoin]

yeah for me it is way too risky since with loans i may get rid of a great deal of income to be honest

It's risky if you are not going to pay the loan, the money that you will borrow. There's no risk at all on this thing if you are the borrower but the risk will be burdened by the lender himself.  And it's up to you on whom you are going to take the loan as a borrower and whom you are going to lend your money as a lender. This is a good business as the banks are surviving by this type of service.