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CliffordM (OP)
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September 25, 2011, 09:02:48 PM
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The IBB business model seems incredibly generous -- but what is in it for them?  Surely not everyone pays back their loans, and as they are charging a zero rate, then it would seem they cannot make money ?

I do like the idea of altruistic finance -- the world needs more people like this -- If I understood a little more, I might be able to help ...

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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ovidiusoft
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September 27, 2011, 02:46:48 PM
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They accept "gratuity" from happy customers (these are not imposed in any way, you give how much you fell like). As long as these gratuities are more than the defaulted loans, they won't lose money.
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