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Author Topic: Reputation Loans  (Read 848 times)
Mosper
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March 24, 2013, 03:59:22 AM
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I have 2 open reputation loans on BTCjam looking for investors. I have paid back 3 so far and am making my interest/payments by shorting on MtGox as the prices fluctuate.

5 BTC - https://btcjam.com/listings/2726
3.5 BTC - https://btcjam.com/listings/2728

All funding is appreciated.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
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March 24, 2013, 05:10:30 AM
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Sigh

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March 24, 2013, 05:11:38 AM
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Yea yea I know your opinion on them. We get it. Let me know how many loans I have to pay back before I get off your list by the way (or don't I don't care). If nobody here is interested that's fine. Not the end of the world for one extra thread to be in the section.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
Eisenhower34
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March 24, 2013, 09:09:36 AM
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If you really want an answer to that question do some math: Lets estimate that you are a potential scammer. So far you "lost" 0.205 BTC with interest payments. That means its still very lucrative for you to scam anything above 0.205 BTC which equals 0 reputation.
Mosper
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March 24, 2013, 03:38:26 PM
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If you really want an answer to that question do some math: Lets estimate that you are a potential scammer. So far you "lost" 0.205 BTC with interest payments. That means its still very lucrative for you to scam anything above 0.205 BTC which equals 0 reputation.
I don't really care but it's funny to me that you are basically saying people should only ever loan me (if anything) what I've already paid in interest. That is such a nonsensical way of thinking.

edit: You obviously are free to think what you want about my loan requests but the jaded attitude here, while safe and probably for the best, is just amusing in its ridiculous nature. You guys have essentially created a catch 22 when most of the coins stolen in BTCland were large thefts by respected and trusted members.

The 1, 2, 3, 4, 5 etc BTC random scammer might take here and there doesn't hold a candle to what happens when people actually fit your arbitrary "reputation" standards. Again I am not trying to change your mind just taking in the humor of it all. I am doing pretty decently on BTCjam by borrowing/shorting them on MtGox.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
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March 24, 2013, 03:51:03 PM
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I don't really care but it's funny to me that you are basically saying people should only ever loan me (if anything) what I've already paid in interest. That is such a nonsensical way of thinking.

God I hate brainless 5 years old smarttalker.
A translation of what i said even for the most ignorant:

Your "trustbuilding loans" do not build any trust!

Offer a service to the community, money exchange, sell goods, offer your service for translation / coding / designing ... or whatever you can offer. Buy shares or something else which you can easily offer as collateral.

Thats how you build trust!
Mosper
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March 24, 2013, 03:55:26 PM
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I don't really care but it's funny to me that you are basically saying people should only ever loan me (if anything) what I've already paid in interest. That is such a nonsensical way of thinking.

God I hate brainless 5 years old smarttalker.
A translation of what i said even for the most ignorant:

Your "trustbuilding loans" do not build any trust!

Offer a service to the community, money exchange, sell goods, offer your service for translation / coding / designing ... or whatever you can offer. Buy shares or something else you can easily offer as collateral.

Thats how you build trust!
Actually you said it would still be lucrative for me to take anything over the interest I had lost which meant no reputation was built. Following that logic if I had paid 100BTC in interest it would no longer be a lucrative move for me to run off with 100BTC. Perhaps you should improve the way you phrase your thoughts.

Also this is a lending forum and nothing but my ability to and history of returning loans should matter. I have thrown up a couple of offers to the community but honestly I came here to benefit from the wild fluctuations in BTC value while funding my own business interests at the same time. I don't really care about being your friend one way or another. Nothing personal.

edit: In the interest of being friendly: https://bitcointalk.org/index.php?topic=156677.msg1668015#new

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Jenger
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March 24, 2013, 05:00:50 PM
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People don't take kind to reputation loans here..

I personally think that they are okay as long as they are repaid. A loan, is a loan, is a loan.

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March 24, 2013, 05:03:36 PM
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People don't take kind to reputation loans here..

I personally think that they are okay as long as they are repaid. A loan, is a loan, is a loan.
Yea I knew that when posting so I'm not taking it personally. I'm basically just taking the loans and shortselling on MtGox to take tiny margins off the top of each trade and then repaying my loan/taking out another. As soon as I get another doctor bill in the mail to provide to my lender from here I am taking out a $350 BTC equivalent loan for my Kratom business so that should help get my standing in this community moved up some.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
Vod
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March 24, 2013, 06:00:15 PM
 #10

Shouldn't you only take out a loan when you can make some money?  After all, you have to pay interest on the loan.

Save up the bitcents and bitcoins that you are making on these loans, and then then one day you won't need loans anymore, right?

Reputation loans go against this - a person takes out a small loan to get a bigger one, etc etc.  That means you keep increasing your interest charge.

Q:  Why would someone want to pay increasing interest when they could choose to pay no interest at all?
A:  TO SCAM.


I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
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Mosper
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March 24, 2013, 06:19:48 PM
 #11

Shouldn't you only take out a loan when you can make some money?  After all, you have to pay interest on the loan.

Save up the bitcents and bitcoins that you are making on these loans, and then then one day you won't need loans anymore, right?

Reputation loans go against this - a person takes out a small loan to get a bigger one, etc etc.  That means you keep increasing your interest charge.

Q:  Why would someone want to pay increasing interest when they could choose to pay no interest at all?
A:  TO SCAM.


B: To get a loan large enough to actually be worth mucking about with.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
Matthew N. Wright
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March 24, 2013, 06:23:38 PM
 #12

Shouldn't you only take out a loan when you can make some money?  After all, you have to pay interest on the loan.

Save up the bitcents and bitcoins that you are making on these loans, and then then one day you won't need loans anymore, right?

Reputation loans go against this - a person takes out a small loan to get a bigger one, etc etc.  That means you keep increasing your interest charge.

Q:  Why would someone want to pay increasing interest when they could choose to pay no interest at all?
A:  TO SCAM.


B: To get a loan large enough to actually be worth mucking about with.

That's what he just said.

Mosper
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March 24, 2013, 06:34:22 PM
 #13

Shouldn't you only take out a loan when you can make some money?  After all, you have to pay interest on the loan.

Save up the bitcents and bitcoins that you are making on these loans, and then then one day you won't need loans anymore, right?

Reputation loans go against this - a person takes out a small loan to get a bigger one, etc etc.  That means you keep increasing your interest charge.

Q:  Why would someone want to pay increasing interest when they could choose to pay no interest at all?
A:  TO SCAM.


B: To get a loan large enough to actually be worth mucking about with.

That's what he just said.
No? I am shorting BTC for small gains and have a committed lender for $350 (half of my kratom capital I am putting the other half myself) as soon as a new doctor bill comes in the mail. I don't need to scam anyone. I have actual talents.

I actually got ripped off on BTCjam of .5 BTC.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
Vod
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March 24, 2013, 06:41:52 PM
 #14

No? I am shorting BTC for small gains and have a committed lender for $350 (half of my kratom capital I am putting the other half myself) as soon as a new doctor bill comes in the mail. I don't need to scam anyone. I have actual talents.

To repeat myself, if you're shorting for small gains you eventually won't need loans anymore.  That is the opposite of building reputation to take out larger and larger loans.

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
I will ignore your Prayer Messages unless you donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
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Mosper
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March 24, 2013, 06:43:19 PM
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No? I am shorting BTC for small gains and have a committed lender for $350 (half of my kratom capital I am putting the other half myself) as soon as a new doctor bill comes in the mail. I don't need to scam anyone. I have actual talents.

To repeat myself, if you're shorting for small gains you eventually won't need loans anymore.  That is the opposite of building reputation to take out larger and larger loans.
I'm not trying to one day take out a 5k BTC loan or anything dude. By larger I'm talking like 5-10 BTC max so that the shorting builds revenue a little more quickly because after one or two of those I, as you said, won't need loans anymore.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
Mosper
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March 24, 2013, 09:24:48 PM
 #16

and calling it a reputation loan is a formality anyway. I'm asking for loans to make small gains towards my goal with and I'm asking for small ones because I have no reputation. It's cool if nobody from this forum invests as I'm doing ok getting them funded on BTCjam alone but I think the obsession with focusing on the term reputation loan is a little weird.

Me? I'm just the cynical voice floating in the sea of unchecked optimism.
Vod
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March 24, 2013, 09:57:14 PM
 #17

Imagine that ... a thread focused on its subject.   Shocked

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
I will ignore your Prayer Messages unless you donate to 1CDyx8AUTiYXS1ThcBU3vy4SJWQq6pdFMH
BitcoinTalk Public Information Project - Coming soon!
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