Lending Subforum Intro & Scam Trends

[strayanbit]

I don't lend or borrow here, but I imagine if you wanted to use a domain as collateral it would have to have some value.
There are a few sites out there which will give you an approximate $US valuation for a domain. 
Once you have the value, screenprint it (hopefully with a time and date), and then you will have to hand your domain over to the person giving you the loan, for the period of the loan or an escrow service.

Even with the above info, some lenders may not accept a domain or a website as collat', but if it's worth anything it may well be worth a go.

[1715059394]

1715059394

[1715059394]

1715059394

[1715059394]

1715059394

[bitsizeinvestor]

I am new here.

Wonder how does the collateral of domain and altcoin and message work? Firstly, how do I receive and keep the collateral? Secondly, how do I turn these into cash or bitcoin?

Thanks in advance.

[--Encrypted--]

I am new here.

Wonder how does the collateral of domain and altcoin and message work? Firstly, how do I receive and keep the collateral? Secondly, how do I turn these into cash or bitcoin?

Thanks in advance.

1a. for domains you or the escrow will need to have a registrar account. the domain collateral will be transferred to your or the escrow's account. additional fee may be charged.

1b. for altcoin you or the escrow will need to have an address to store that altcoin. from wallet or an exchange.

2. you sell them. duh. 

[bitsizeinvestor]

I am new here.

Wonder how does the collateral of domain and altcoin and message work? Firstly, how do I receive and keep the collateral? Secondly, how do I turn these into cash or bitcoin?

Thanks in advance.

1a. for domains you or the escrow will need to have a registrar account. the domain collateral will be transferred to your or the escrow's account. additional fee may be charged.

1b. for altcoin you or the escrow will need to have an address to store that altcoin. from wallet or an exchange.

2. you sell them. duh. 

Thanks. But in that case, is it possible that the lender will sell away the collateral and run away if the collateral worth more than the loan itself?

[marjod]

Thanks. But in that case, is it possible that the lender will sell away the collateral and run away if the collateral worth more than the loan itself?

If the lender is not established as trusted, you should escrow the collateral to a trusted third party in order to avoid this case. For exemple, if the lender is a newbie account and want to hold your collateral, don't send it to him but to a trusted escrow. Better pay a small escrow fee than lost your collateral.

[BTCBroker2016]

Is it possible to get a sticky of Trusted lender services?

[morantis]

Is it possible to get a sticky of Trusted lender services?

services, maybe, people would be a bad idea

i have seen members on here, long time members that have helped people and given money away and such either start a website or service or get involved and two weeks later that trusted members is gone and so is the site.

the same has been true for lending and escrow, it makes you wonder if the two years it took to build the account were all just a setup for that one time site take down of hundreds of Bitcoins, maybe, i think people just change  over time, especially when the miracle cure of Bitcoin did not solve all their problems by making them rich, well, actually, in the end, it did, lol

point is, two three year old accounts with trust and honor on here have turned and ran quickly and without a word, a list of services would be nice, i would watch and suspect every individual in the end

[The Sceptical Chymist]

Is it possible to get a sticky of Trusted lender services?

services, maybe, people would be a bad idea

i have seen members on here, long time members that have helped people and given money away and such either start a website or service or get involved and two weeks later that trusted members is gone and so is the site.

the same has been true for lending and escrow, it makes you wonder if the two years it took to build the account were all just a setup for that one time site take down of hundreds of Bitcoins, maybe, i think people just change  over time, especially when the miracle cure of Bitcoin did not solve all their problems by making them rich, well, actually, in the end, it did, lol

point is, two three year old accounts with trust and honor on here have turned and ran quickly and without a word, a list of services would be nice, i would watch and suspect every individual in the end

Yep, and you know what I think is responsible for a lot of that?  Account sales.  And they happen right here in the open and nobody seems to give a shit.  If you banned them here, they'd be less likely to sell.  And I think sellers and buyers both should be tagged a nice shade of red by the DT members.  But most of them are happy with the status quo which got them their positions in the first place. 

[morantis]

Is it possible to get a sticky of Trusted lender services?

services, maybe, people would be a bad idea

i have seen members on here, long time members that have helped people and given money away and such either start a website or service or get involved and two weeks later that trusted members is gone and so is the site.

the same has been true for lending and escrow, it makes you wonder if the two years it took to build the account were all just a setup for that one time site take down of hundreds of Bitcoins, maybe, i think people just change  over time, especially when the miracle cure of Bitcoin did not solve all their problems by making them rich, well, actually, in the end, it did, lol

point is, two three year old accounts with trust and honor on here have turned and ran quickly and without a word, a list of services would be nice, i would watch and suspect every individual in the end

Yep, and you know what I think is responsible for a lot of that?  Account sales.  And they happen right here in the open and nobody seems to give a shit.  If you banned them here, they'd be less likely to sell.  And I think sellers and buyers both should be tagged a nice shade of red by the DT members.  But most of them are happy with the status quo which got them their positions in the first place. 

My favorite thing of all time here is escrow.  no proven trust, just a third party that says they will keep the other two safe by holding everyone's money.  Just using the word escrow makes two or three people pop out and start trading.  It is like a magic necklace that makes you appear trustworthy and you are just you, can be trusted or not.  They even create scripted websites to create the illusion of trust.

Anyone can do that....find a domain that includes free SSL for the first year, some web hosting, find the script out there for free or drop ten bucks and suddenly your BTC account has the money in it from one of more people, protected by you, lol.  I think anyone that does this for a year or more and watches $1000's of dollars pass through their account, only to make a couple bucks on the service, will get bitter and bolt one say with someone's money.

[MoneyJ]

Lenders have always used 3rd party for escrow service. But make sure it's legit .

[Kevin29]

Now i cant loan 

[morantis]

Now i cant loan 

why would people trust you in a loan?

[maincoon]

IMHO most people here are not reliable enough to get any loan. I was burned too many times on scammers even from legendary accounts with good rep. People are buying/hacking such accounts and they are defrauding money.

So yeah anonymity = no loan for you dude. ever

[sonofjesus]

i want to any one lend me
what i must do to trust for me

what collateral i must provide ?

[Jeremycoin]

If I lend some Bitcoin to someone, and if the deadline has passed and he still had not paid. How long I have to wait til the collateral be mine?

[Bemerand]

I still cant figure out how a bitcoin lending service even works, do you owe the money or the bitcoins? is the interest on the money or the bitcoins?

[shivohum2015]

can anyone explain me first what is the meaning of "OP", this peculiar term is very frequently used over here. and second this is how to sign a message when some ask for

[arseaboy]

It's really such a bad idea to get a loan. We really need to earn bitcoin in a hardway. Really hard to trust people nowadays when money talks.

[piececake24]

there are so many newbie's here that's why people doubt or get hesitate to make a deal

[styleyfrancky]

Scam trends:

• There is an ongoing scam issue where "lenders" are saying they'll issue loans for collateral. The "lender" then takes the collateral and disappears. Prevent this by using reputable escrow providers or only dealing with lenders you trust. Keeping in mind that proving available funds isn't necessarily connected to whether or not a lender will steal collateral and disappear, you can also ask a lender asking for collateral to show he has the funds to lend you by signing a message with his private key (most BTC clients have a GUI allowing you verify messages, though they don't all use the same scheme to do this -- if a message fails to verify, you may wish to ask the signer to tell you which client and scheme he used so you can double-check using the same set-up he has ).

I enjoy this part, it shows that borrowers can face scammers too, not only the lenders. But I don't understand the part "you can also ask a lender asking for collateral to show he has the funds to lend you by signing a message with his private key (most BTC clients have a GUI allowing you verify messages, though they don't all use the same scheme to do this...). Can someone explain it to me, please?