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Author Topic: Legit use for lending of Bitcoin ?  (Read 74 times)
Garg
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April 21, 2018, 05:59:37 PM
 #1

What are the legitimate purposes for which Lending of BTC
should be acceptable ?

If we exclude trading , leverage kind of activities?
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April 21, 2018, 06:04:22 PM
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I don't think it's anyone's business what the loan request is for, especially on loans backed by valid collateral.
Non-collateral backed loans are a little bit different, as lender might want to make sure that you are able to pay at some point.

People need loans for example groceries, bills and buying something urgent.

I think that lending for every purpose is fine, as long as they repay.

Let me ask you, would you feel comfortable telling every time to a lender where you will be using the funds that you get? I think that as a violation of privacy, as trust can exist without someone's privacy getting violated.

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April 21, 2018, 06:30:47 PM
 #3

What are the legitimate purposes for which Lending of BTC
should be acceptable ?

If we exclude trading , leverage kind of activities?
There are several reasons why one will request for a loan. One of them and the most common is due to emergency cases and they think they have earned enough trust in this forum that they can request for a loan. Another is they don't want to miss something and they need to pay in BTC. Both reasons I guess are valid but on top of those a collateral must be offered for the loan to be funded.

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Garg
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April 21, 2018, 06:52:07 PM
 #4


what would be a typical online collateral.
please do share some examples.
Thank you.
Accts4u2
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April 21, 2018, 07:09:34 PM
 #5


what would be a typical online collateral.
please do share some examples.
Thank you.

Altcoins worth 120 percent of the bitcoin you are requesting. It should be something that the lender can EASILY sell if the borrower defaults on the loan. Ultimately it is up to the lender what they consider valid collateral

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April 23, 2018, 08:37:28 PM
 #6

Have you ever imagined that you could receive fiat currency without the need to sell the cryptocurrencies? How wonderful is that? Cryptocurrency owners would certainly be excited to learn about it. The new project in the town is Project NEXO.
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