kopipe (OP)
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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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コピペ copypaste
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🏰 TradeFortress 🏰
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August 17, 2013, 01:54:50 PM |
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People may tip.
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Kluge
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August 17, 2013, 01:57:08 PM |
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Originally, there was the Islamic Bank of Bitcoin offering 0% loans https://bitcointalk.org/index.php?topic=21732.0IIRC, 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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Kouye
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August 17, 2013, 02:03:37 PM |
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Thank you for splitting this discussion to this thread. 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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[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.
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paraipan
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August 17, 2013, 02:12:02 PM |
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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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BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
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Kouye
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August 17, 2013, 02:12:29 PM |
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Here is a successful 0% successful interest 200BTC loan. https://bitcointalk.org/index.php?topic=258099.0With mandatory tips, but still.
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[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.
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jasonslow
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August 17, 2013, 02:15:10 PM |
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Clearly this man is different. He wants to help the forum users. Unlike most lenders that only wants profit.
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kopipe (OP)
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August 17, 2013, 02:15:37 PM |
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Thank you for splitting this discussion to this thread. 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 I suppose it could work if he only lends to trusted members, though. Thanks for the explanation.
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コピペ copypaste
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🏰 TradeFortress 🏰
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August 17, 2013, 03:13:52 PM |
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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. 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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jdany
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August 17, 2013, 03:23:03 PM |
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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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Scott J
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August 17, 2013, 03:36:52 PM |
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(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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Kluge
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August 18, 2013, 12:07:40 AM |
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(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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JusticeForYou
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August 18, 2013, 01:17:53 AM |
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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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voxelot
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August 18, 2013, 01:46:04 AM |
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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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peonminer
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August 22, 2013, 08:54:51 PM |
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Interesting thread is interesting.
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Dabs
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The Concierge of Crypto
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August 23, 2013, 05:00:56 AM |
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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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