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Author Topic: Is this enough to be a collateral?  (Read 265 times)
airenhannah23
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January 24, 2017, 07:03:05 AM
 #1

Good day. Is my account in BitMagnet.biz with 0.0058 BTC deposited enough to be a collateral? It is growing 0.15% every hour/ 870 satoshis every hour.

Second collateral is my account in BitcoFarm with 23 referrals. This has currently 0.00237410 current purchase balance.

Third collateral is my account on 4BCnetwork with 57 referrals with 0.00170628 in BTC wallet, 0.0170628 ETH, 1.4219 BIC and 0.00021904 ELDO at the moment.


I am still a newbie as you can see but I really need help this week, an instant money. I am also in Buy and Sell Business, but I need more capital for this.

That's why I decided to lend 0.3 BTC.. If you just allow me. I have more accounts to give as a collateral. Please, just hear me out.

I know, when you're still a newbie here, no one wants to trust you even if you have pure intentions. Please be assured that I am a good payer.

I was scammed several times before and I will not do what the scammers did to me to others. For I know doing such is not accepted in the LORD's sight.
Please just give me a chance.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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mocacinno
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January 24, 2017, 07:12:08 AM
 #2

To be honest... No, i wouldn't take this collateral.

If you want to lend 0.3, your collateral should have a net worth of at least ~0.4 (120% of the loaned amount + the intrest).

0.0058 + 0.00237410 + 0.00170628 =~0.01... Even if the collateral was valid (which i doubt), you'll need at leat 40 times as much collateral to get the loan (and valid collateral for that). Now, even IF the collateral was valid, i doubt anybody wanting to secure 120 accounts for a 0.3BTC loan.

Some interesting reading material on the topic: https://bitcointalk.org/index.php?topic=577765.msg6311902#msg6311902


BitMagnet.biz => never heared of it
BitcoFarm => never heared of it
4BCnetwork => never heared of it

jacee
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January 24, 2017, 07:17:28 AM
 #3

bitmagnet.biz is a ponzi
bitcofarm is a ponzi farming game
4bcnetwork is a paid to surf website.
Even if you have referrals in it what makes you think these sites will remain paying? Incase you default the loan the lender will have nothing if these sites collapsed so no it's not a valid collateral.


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airenhannah23
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January 24, 2017, 07:50:25 AM
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What should I do? I dont have anything to give as collateral except this accounts. I am not as blessed are you are guys in financial matters. This is so sad.  Cry Cry Cry
mocacinno
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January 24, 2017, 08:01:20 AM
 #5

What should I do? I dont have anything to give as collateral except this accounts. I am not as blessed are you are guys in financial matters. This is so sad.  Cry Cry Cry

It's pretty simple: don't ask for a loan using the above collateral... The only thing that would actually happen if you really asked for a loan with those accounts is: you would get mocked and you would receive red trust.

Basically, my recommandations for you would be:
1) get your funds out of all those ponzi's
2) in the future, don't invest in ponzi's, basically do your research before investing into anything (and use a trusted escrow whenever possible)
3) if you have skills that translate well into the online world (designing, coding, marketing), you can sell your skills and make some BTC. If you don't have online skills, take a real life job and convert part of your income into BTC
4) if you're really desperate for a loan, and you have no collateral, get a loan from somebody you know IRL.

airenhannah23
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January 24, 2017, 08:03:18 AM
 #6

Ok. Thank you
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