Microlending as a way to get started?

[AscendancyEight]

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

[dodgrad]

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

Of course it is good idea, but when i was watching lending section, there already is many services like this, so your offer have to be with little % .. and you have to be fast

[zydus]

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

As long as you will be providing secure loans here, you can sart getting profits with your microloans. Just follow the No collateral no loan policy of the forum so you can be safe from future scam attempts.
It's best if you start with microloans for short time loans like a few days or max weeks and get a % of interest.

[wintermeasures]

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

yes, I think it's nice to add to your bitcoin, with its many unmet demand for loans I think this business promises. But you will also be selective in choosing borrowers, because too many fraudster here. Thank you

[zeaderza]

IS a risky method,some members can use as collateral hacked account.Is a good idea if you only lend money to trust members with a high rank and trust.

[techgeek]

IS a risky method,some members can use as collateral hacked account.Is a good idea if you only lend money to trust members with a high rank and trust.

You can reduce that risk by a ton based on signatures.

Which most people fail to notice, but thats the only way someone will be able to still be around to lend without being out of business.

Also the length of that signature - on how far it goes back associated with that account.

[pooya87]

IS a risky method,some members can use as collateral hacked account.Is a good idea if you only lend money to trust members with a high rank and trust.

it is not risky if you know how to spot these things. for example you can find out if the password was recently changed here in forum security log: https://bitcointalk.org/seclog.php

also you should always ask for a signed message from and old bitcoin address.

[wintermeasures]

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

Yes Bro It is a Great idea But It is Also Not A Safe Way to Earn Bitcoin Because Business is Always Risky....
Before Doing This Business You Need to Know Some things:-
1) Firstly Check Out the Colletral Provided By the User Who is Taking Loan From You....
2) Always Be Positive Because Positive Thinking Makes You Feel Good About Your Business.....

[enhu]

microlending means micro earnings. Make it big if possible. Some lenders only give a week to repay i think this will be a better option even for micro as well. you get the return and profit in a week. But this i assume you already know the risk about collateral being already used as collateral from other users who is also into lending business.

[Hellacopter]

Yes giving micro loans is a good way to make some earning, but you have to be careful, follow the rule of no collateral no loan, accept only the valid collaterals, and try to lend the most trusted members first

[nejibens]

You can making earning by microlending, because people need loans mostly and if you use the escrow service and get valid collateral you minimize the risks involved with this method

[illyiller]

So, as mentioned before, I'm relatively new to Bitcoin. I can see that the Microlending system (on this forum, at least) is pretty well set up, with a trust system + collateral and escrow. Would it be a good idea to make some bitcoin lending out very small amounts to users? I could get started with a relatively small amount and only offer loans to very trustworthy members with collateral. Would this be a relatively safe way of making a bit of money? Thank you!

It's not going to make you much money, but it's something. It's a way to put your money to work for you. As you've said, you need to be very wary and deal with reputable members with sufficient collateral. Dealing with liquidating collateral can be a headache.

It's not worth it to me personally -- I prefer to keep most of my bitcoins cold, with some funds spread out to a few exchanges to catch market movements. Everything comes with its risks.

[outatime1]

Lending can be a good way to earn some bitcoin. Be careful who you lend to and try to get collateral for anyone that you don't trust.

[Xenophoto]

Lending can be a good way to earn some bitcoin. Be careful who you lend to and try to get collateral for anyone that you don't trust.

Maybe so, maybe not. Everyone in this forum isn't trusted by OP anyway since we're all anonymous and we're all strangers to his eyes unless you know each other personally. There are some claims by lenders that they regret getting accounts (bitcointalk account) as collateral because most of the time, the user never actually cared about losing the account.

Anyway, OP is just looking for micro loans. Then that means that the account will always be much valuable than the loan amount that'll be loaned. I think noone's going to risk their high-ranked account for a little amount of money so it's really likely that the user will repay.

[pocarime32]

IS a risky method,some members can use as collateral hacked account.Is a good idea if you only lend money to trust members with a high rank and trust.

Just tell them, you need the signed message with the old address as collateral and only give loan to trust member by look his rank account, like Sr.Member and hero.

[smho_16]

IS a risky method,some members can use as collateral hacked account.Is a good idea if you only lend money to trust members with a high rank and trust.

Just tell them, you need the signed message with the old address as collateral and only give loan to trust member by look his rank account, like Sr.Member and hero.

Even to Sr.Member and Hero do not give loan without getting 120%-150% collateral in value and don't forget to ask them to sign a message from an address which will be at least 6 month old. I tell you this because the selling and buying of accounts nowadays is very common and when they sell they even provide signed message during this selling. So you risk it big when you don't ask for a signed message from an address which is at least 6 months old.

[Strongkored]

I think it's too risky if we are new to the world bitcoin, and to borrow money. Moreover for your rank, if you are looking for a loan here without colleteral I think you will be given only negative trust. It is better to learn in advance about bitcoin, and I'm sure if you're just looking for a little bitcoin with faucet just enough, or work in kolotibablo.com (resolving captcha)

[dunfida]

I think it's too risky if we are new to the world bitcoin, and to borrow money. Moreover for your rank, if you are looking for a loan here without colleteral I think you will be given only negative trust. It is better to learn in advance about bitcoin, and I'm sure if you're just looking for a little bitcoin with faucet just enough, or work in kolotibablo.com (resolving captcha)

They would  gain a negative trust for sure  rather than the loan itself if they dont present  any collateral  thats 120%  more on the loan amount. Borrowing money isnt easy at all since those lendors would be strict  and  many things to check before they lend some  money on you since lending services is too risky.

[Pro Gamers]

I think it's too risky if we are new to the world bitcoin, and to borrow money. Moreover for your rank, if you are looking for a loan here without colleteral I think you will be given only negative trust. It is better to learn in advance about bitcoin, and I'm sure if you're just looking for a little bitcoin with faucet just enough, or work in kolotibablo.com (resolving captcha)

Not all the time even a newbie can ask for a loan as long as he can provide a valid collateral and less the value of what he is loaning. But based on my understanding on op he is not borrowing instead he is asking if he can get safe way of earning by lending on this forum.

[airezx20]

Yes its a good idea and i am also thinking of the same thing but before that i am just collecting some extra bitcoins to do that.Its a really good and profitable way to earn some extra bits i think.But must be careful that you give loan after a valid collateral and that kind of collateral which you can sell easily to get back the return.