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Author Topic: Why would people lend BTC without interest?  (Read 1059 times)
kopipe
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August 17, 2013, 01:52:46 PM
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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.

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TradeFortress
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August 17, 2013, 01:54:50 PM
 #2

People may tip.

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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)
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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.




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I won't ever ask for a loan nor offer any escrow service. If I do, please consider my account as hacked.
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August 17, 2013, 02:05:48 PM
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http://en.wikipedia.org/wiki/Altruism

Helping others in spite of knowing your efforts will be sacrificial.
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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.

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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

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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
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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.

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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.

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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.


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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!

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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.
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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.

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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

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August 22, 2013, 08:54:51 PM
 #16

Interesting thread is interesting.

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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.

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