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Author Topic: I have .1 btc to loan. Please have collateral  (Read 4083 times)
andrewboy44
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October 17, 2013, 01:38:52 AM
 #1

I have .1btc to loan to anyone that needs it. If you are a hero member with trust you can get it with no collateral. Anyone below a hero member please have collateral. Its not much btc but I figured I would offer it for the hell of it. 10% interest. So I give you .1btc and you return .11 btc. If all goes well I will start doing .1-.5 one-two week btc loans. These loans aren't meant for huge purchases obviously. Perhaps for someone that is trying to boost their trust on bitcointalk or something. Who knows. Comment below if interested.

**This is a one week loan. BTC


Due to all the comments and remarks, I have realized this is a bad idea. Lol.
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marcovaldo
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October 17, 2013, 04:24:45 PM
 #2

Sorry but there is already free loan out there. So, if you want to get a return % you will have to loan to people with no collateral, or higher risk



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ensurance982
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October 17, 2013, 04:26:13 PM
 #3

What kind of collateral acceptable to you?

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October 17, 2013, 04:27:07 PM
 #4

You haven't really been around for that long, so I'd advise you to steer WAY clear of lending. You're going to end up getting burned.

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ReBoRn
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October 17, 2013, 08:16:46 PM
 #5

You haven't really been around for that long, so I'd advise you to steer WAY clear of lending. You're going to end up getting burned.

lending GodFather's tip for you better keep this and as rate going high make profit don't try to burned in this hell  Wink

MoneyGod
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October 17, 2013, 08:19:27 PM
 #6

tip is good but here new trend is going as all can watch this  https://bitcointalk.org/index.php?topic=310177.0
one person post thread and in 9 minutes give loan and its back in 4 days I am confused what is going here may be this is also like this

greyhawk
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October 17, 2013, 09:24:30 PM
 #7

You could pay me to take a loan from you. I will provide this service for only 0.02 btc
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October 18, 2013, 06:44:46 PM
 #8

You're going to get burned lending, you have no idea what you're doing. Undecided
gamybtc
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October 19, 2013, 12:34:36 PM
 #9

Generally, what will people do with that kind of lending?

Is that much craze?

I mean its equal to like $14, i think people can make such money easily.

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ReBoRn
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October 19, 2013, 01:52:56 PM
 #10

Generally, what will people do with that kind of lending?

Is that much craze?

I mean its equal to like $14, i think people can make such money easily.

most of peoples try there luck in gambling and bets and very few has which need for mining or some other stuff just because of this some time pay good interest rate also

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October 19, 2013, 02:19:31 PM
 #11

I have .1btc to loan to anyone that needs it. If you are a hero member with trust you can get it with no collateral. Anyone below a hero member please have collateral. Its not much btc but I figured I would offer it for the hell of it. 10% interest. So I give you .1btc and you return .11 btc. If all goes well I will start doing .1-.5 one-two week btc loans. These loans aren't meant for huge purchases obviously. Perhaps for someone that is trying to boost their trust on bitcointalk or something. Who knows. Comment below if interested.

**This is a one week loan. BTC

 If you are charging 10% for a one week loan in the US or Canada it is considered Usury and is a federal offence.  The legal limit for interest rate in Canada is 60% per annum.  In the US it is regulated by state statutes and the allowable interests rates range from 8-36%.  The federal regulation in the US sets the amount at twice the interest rate set by the state and makes it a felony offence.  I'm not sure about the laws in other countries but there is no court in North America that will allow you to sue the borrower to recover the debt since the interest rate was illegal.  The laws were enacted to protect citizens from debt slavery.  Anyway if you were considering this as a possible business venture, you should probably stop before you get yourself into some serious legal trouble.

Take care

Don't let sidehack fade away...【ツ】Buy him a burger!   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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October 19, 2013, 02:28:32 PM
 #12

I have .1btc to loan to anyone that needs it. If you are a hero member with trust you can get it with no collateral. Anyone below a hero member please have collateral. Its not much btc but I figured I would offer it for the hell of it. 10% interest. So I give you .1btc and you return .11 btc. If all goes well I will start doing .1-.5 one-two week btc loans. These loans aren't meant for huge purchases obviously. Perhaps for someone that is trying to boost their trust on bitcointalk or something. Who knows. Comment below if interested.

**This is a one week loan. BTC

 If you are charging 10% for a one week loan in the US or Canada it is considered Usury and is a federal offence.  The legal limit for interest rate in Canada is 60% per annum.  In the US it is regulated by state statutes and the allowable interests rates range from 8-36%.  The federal regulation in the US sets the amount at twice the interest rate set by the state and makes it a felony offence.  I'm not sure about the laws in other countries but there is no court in North America that will allow you to sue the borrower to recover the debt since the interest rate was illegal.  The laws were enacted to protect citizens from debt slavery.  Anyway if you were considering this as a possible business venture, you should probably stop before you get yourself into some serious legal trouble.

Take care

From http://www.parl.gc.ca/content/lop/researchpublications/prb0581-e.html

Quote
Shared federal-provincial jurisdiction over payday lenders has meant that they are essentially unregulated.(18)  For example, the Criminal Code provision on usury (section 347) has not been used in a criminal context to curtail the activities of payday lenders, although several civil suits against payday lenders are currently under way.

Payday loans are not regulated in Canada, so that's why their average interest rates are 1,242% per annum. If OP lives in Canada and calls this a payday loan, it may be legal.  Tongue

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October 19, 2013, 03:17:03 PM
 #13

I have .1btc to loan to anyone that needs it. If you are a hero member with trust you can get it with no collateral. Anyone below a hero member please have collateral. Its not much btc but I figured I would offer it for the hell of it. 10% interest. So I give you .1btc and you return .11 btc. If all goes well I will start doing .1-.5 one-two week btc loans. These loans aren't meant for huge purchases obviously. Perhaps for someone that is trying to boost their trust on bitcointalk or something. Who knows. Comment below if interested.

**This is a one week loan. BTC

 If you are charging 10% for a one week loan in the US or Canada it is considered Usury and is a federal offence.  The legal limit for interest rate in Canada is 60% per annum.  In the US it is regulated by state statutes and the allowable interests rates range from 8-36%.  The federal regulation in the US sets the amount at twice the interest rate set by the state and makes it a felony offence.  I'm not sure about the laws in other countries but there is no court in North America that will allow you to sue the borrower to recover the debt since the interest rate was illegal.  The laws were enacted to protect citizens from debt slavery.  Anyway if you were considering this as a possible business venture, you should probably stop before you get yourself into some serious legal trouble.

Take care

From http://www.parl.gc.ca/content/lop/researchpublications/prb0581-e.html

Quote
Shared federal-provincial jurisdiction over payday lenders has meant that they are essentially unregulated.(18)  For example, the Criminal Code provision on usury (section 347) has not been used in a criminal context to curtail the activities of payday lenders, although several civil suits against payday lenders are currently under way.

Payday loans are not regulated in Canada, so that's why their average interest rates are 1,242% per annum. If OP lives in Canada and calls this a payday loan, it may be legal.  Tongue

  It isn't considered a payday loan if it is secured and OP was demanding collateral Tongue

Take care

Don't let sidehack fade away...【ツ】Buy him a burger!   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
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