Bitcoin Forum
October 23, 2017, 07:27:49 PM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Why would people lend BTC without interest?  (Read 1041 times)
kopipe
Full Member
***
Offline Offline

Activity: 169


View Profile
August 17, 2013, 01:52:46 PM
 #1

I saw that Stunna is offering 0% interest loans.

Why would you even offer 0% interest loans? You have negative expected value considering you're permanently in the red if just one person defaults.

コピペ copypaste
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508786869
Hero Member
*
Offline Offline

Posts: 1508786869

View Profile Personal Message (Offline)

Ignore
1508786869
Reply with quote  #2

1508786869
Report to moderator
1508786869
Hero Member
*
Offline Offline

Posts: 1508786869

View Profile Personal Message (Offline)

Ignore
1508786869
Reply with quote  #2

1508786869
Report to moderator
1508786869
Hero Member
*
Offline Offline

Posts: 1508786869

View Profile Personal Message (Offline)

Ignore
1508786869
Reply with quote  #2

1508786869
Report to moderator
TradeFortress
VIP
Legendary
*
Offline Offline

Activity: 910


View Profile
August 17, 2013, 01:54:50 PM
 #2

People may tip.
Kluge
Donator
Legendary
*
Offline Offline

Activity: 1218


Michael, send me some coins before I hitman you


View Profile
August 17, 2013, 01:57:08 PM
 #3

Originally, there was the Islamic Bank of Bitcoin offering 0% loans https://bitcointalk.org/index.php?topic=21732.0

IIRC, just the loans (senbon was doing investing in actual projects with funds, too) were profitable from tips. I doubt it could still work given the current state of the forum and users in general, but I guess a new guy took up the reigns.

(unfortunately, I misplaced a check senbon sent over at one point -- it's worth a fair bit now lol)

Don't mix your coins someone said isn't legal
Kouye
Sr. Member
****
Offline Offline

Activity: 336


Cuddling, censored, unicorn-shaped troll.


View Profile
August 17, 2013, 02:03:37 PM
 #4

Thank you for splitting this discussion to this thread. Smiley

I'll begin with a very simple example, happening at work, after lunch, when it's time to pay.

"- Oh damn, I forgot my wallet in the office! Can anyone lend me 10$, please?
- sure, you'll have to repay 10.1$, though."

Does that sound right to you ?

If you want to go deeper, you need to read this first, or any information source you trust, about this topic.
I understand you might be cautious about wikipedia.




[OVER] RIDDLES 2nd edition --- this was claimed. Look out for 3rd edition!
I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked.
jdany
Hero Member
*****
Offline Offline

Activity: 644


Inspired


View Profile
August 17, 2013, 02:05:48 PM
 #5

http://en.wikipedia.org/wiki/Altruism

Helping others in spite of knowing your efforts will be sacrificial.
paraipan
Legendary
*
Offline Offline

Activity: 924


Firstbits: 1pirata


View Profile WWW
August 17, 2013, 02:12:02 PM
 #6

Guess this happens in deflationary economies. Although a bit early-adopter style to have any real gains and with such small amounts of time, one or two weeks.

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
Kouye
Sr. Member
****
Offline Offline

Activity: 336


Cuddling, censored, unicorn-shaped troll.


View Profile
August 17, 2013, 02:12:29 PM
 #7

Here is a successful 0% successful interest 200BTC loan.

https://bitcointalk.org/index.php?topic=258099.0

With mandatory tips, but still. Grin

[OVER] RIDDLES 2nd edition --- this was claimed. Look out for 3rd edition!
I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked.
jasonslow
Hero Member
*****
Offline Offline

Activity: 574


View Profile
August 17, 2013, 02:15:10 PM
 #8

Clearly this man is different. He wants to help the forum users. Unlike most lenders that only wants profit.
kopipe
Full Member
***
Offline Offline

Activity: 169


View Profile
August 17, 2013, 02:15:37 PM
 #9

Thank you for splitting this discussion to this thread. Smiley

I'll begin with a very simple example, happening at work, after lunch, when it's time to pay.

"- Oh damn, I forgot my wallet in the office! Can anyone lend me 10$, please?
- sure, you'll have to repay 10.1$, though."

Does that sound right to you ?

If you want to go deeper, you need to read this first, or any information source you trust, about this topic.
I understand you might be cautious about wikipedia.

I understand this, I've loaned people I know in real life small amounts of money with 0% interest. However, this is Bitcoin, and as Joey has proven, people will scam you repeatedly for just .1BTC Cheesy

I suppose it could work if he only lends to trusted members, though. Smiley Thanks for the explanation.

コピペ copypaste
TradeFortress
VIP
Legendary
*
Offline Offline

Activity: 910


View Profile
August 17, 2013, 03:13:52 PM
 #10

Two thumbs up for Stunna.   It offsets the moronic interest rates people seem to be asking for.  Have you seen some of them floating around.  I mean really.   Roll Eyes  There is a dude asking for 5 percent for 1 day loans.   What bloody APR is that.  Probably don't want to know.
It's unfair to compare really short time loans to longer loans. But for your reference, 54211841% APR.
jdany
Hero Member
*****
Offline Offline

Activity: 644


Inspired


View Profile
August 17, 2013, 03:23:03 PM
 #11

No one would part with their BTC to make a 1 day loan for regular APR interest.

I've only needed short termers on a few occasions.
And I was more concerned about the "oh shit" moment than I was about the math behind taking the loan.


Scott J
Legendary
*
Offline Offline

Activity: 1778


View Profile
August 17, 2013, 03:36:52 PM
 #12

(unfortunately, I misplaced a check senbon sent over at one point -- it's worth a fair bit now lol)
How much are these worth roughly?

I have one or two, just hope they're in good condition!

Kluge
Donator
Legendary
*
Offline Offline

Activity: 1218


Michael, send me some coins before I hitman you


View Profile
August 18, 2013, 12:07:40 AM
 #13

(unfortunately, I misplaced a check senbon sent over at one point -- it's worth a fair bit now lol)
How much are these worth roughly?

I have one or two, just hope they're in good condition!
It was pre-loaded.

Don't mix your coins someone said isn't legal
BTC_Bear
B4 Foundation
VIP
Sr. Member
*
Offline Offline

Activity: 392


Best Offense is a Good Defense


View Profile WWW
August 18, 2013, 01:17:53 AM
 #14

OP-

   Scenario 1:

                 You have a $20 bill but want 20 $1 bills and then want to take the $1 bills and turn them back into another $20 bill.


   Scenario 2:

                You are altruistic and like being part of something.

   Scenario 3:

                Refer back to Scenario 1.

Corporations have been enthroned, An era of corruption in high places will follow and the money power will endeavor to prolong its reign by working on the prejudices of the people until wealth is aggregated in a few hands and the Republic is destroyed. ~Abe Lincoln 1ApJdWUdSWYw8n8HEATYhHXA9EYoRTy7c4
voxelot
Sr. Member
****
Offline Offline

Activity: 265


View Profile
August 18, 2013, 01:46:04 AM
 #15

Stunna is a beast with an awesome idea!  I hope he receives the support he deserves braving his BTC for us clowns ;p

peonminer
Hero Member
*****
Offline Offline

Activity: 588



View Profile
August 22, 2013, 08:54:51 PM
 #16

Interesting thread is interesting.
Dabs
Staff
Legendary
*
Offline Offline

Activity: 1834



View Profile
August 23, 2013, 05:00:56 AM
 #17

I lent my brother a large amount, interest free, for 5 years. But he's related to me by blood, so that might be different.

Escrow Service (Services) - GPG ID: 32AD7565, OTC ID: Dabs
All messages concerning escrow or with bitcoin addresses are GPG signed. Please verify.
CompTIA A+, Microsoft Certified Professional, MCSA: Windows 10; Windows Server 2012, MCSE: Cloud Platform and Infrastructure; Productivity; Messaging
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!