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Author Topic: Using account as collateral.  (Read 836 times)
eid
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September 03, 2014, 08:19:31 AM
 #1

I would like to know, if someone used their account as collateral on a loan (publicly stated in a post), then defaulted on that loan (provably), would they be able to retrieve their account using the usual method of the signed PM to Theymos or would admin honour their public agreement?


thanks.


I am not intending to use my account this way, nor give a loan; I was just wondering.
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September 03, 2014, 08:53:04 AM
 #2

They could get the account back quite easily so it's worth very little as collateral. Theymos may not choose to restore the account if he knows in advance but he probably wouldn't get involved with the dispute.

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hilariousandco
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September 03, 2014, 09:29:09 AM
 #3

They could get the account back quite easily so it's worth very little as collateral. Theymos may not choose to restore the account if he knows in advance but he probably wouldn't get involved with the dispute.
I disagree with you Hilariousandco  This post shows accounts can be used for Collateral and some accounts are worth quite a bit. I'm not sure what Badbear or theymos position on this is but, PG seems to have informed badbear of the transaction.


My point still stands. I never said they couldn't be used as collateral, but that they are essentially worthless as such because they don't guarantee anything. You still have to trust that the person isn't going to easily reclaim them which they can do at any time.

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hilariousandco
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September 03, 2014, 10:20:06 AM
 #4

Wasn't aware of that PG loan / scam accusation: https://bitcointalk.org/index.php?topic=667460.0

Isn't PG meant to have a decent stash of btc? No idea why he'd need to loan money for that.

There was also a similar thread (and possibly another) to this one posted recently: https://bitcointalk.org/index.php?topic=753608.0

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eid
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September 03, 2014, 04:21:27 PM
 #5

They could get the account back quite easily so it's worth very little as collateral. Theymos may not choose to restore the account if he knows in advance but he probably wouldn't get involved with the dispute.

Thanks for the reply. I was hoping to hear something more concrete, from Theymos I guess. I suppose if he doesn't reply then we could assume he's not interested in getting involved, like you say.
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September 04, 2014, 02:17:47 AM
 #6

The account can also be neg bombed with certain people think the ownership has been changed.

Also Theymos has more things to do than being middleman of collateral loans, I think it is why he is silence
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September 04, 2014, 05:59:59 AM
 #7

Isn't PG meant to have a decent stash of btc? No idea why he'd need to loan money for that.

Recently he's been complaining a lot (much more than usual) about the few hundred (thousand?) BTC he lost to the instawallet "hacks"...

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