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Author Topic: {closed}Looking for btc Loans Pay 4btc and get 4.5btc!{closed}  (Read 15331 times)
LMGTFY
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March 25, 2011, 10:20:31 PM
 #21

it doesnt help your reputation if you back out of a loan now  Roll Eyes
It doesn't help it, sure, but I don't think reputation should be harmed, either - since the lender (me) is happy for early repayment without penalty. That said, reputation would probably be improved if JackRabiit stuck with the original loan :-)

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Fiyasko
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March 25, 2011, 10:34:30 PM
 #22

Hehehhehhh
The way I see it a deals a deal. Grin

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
nster
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March 25, 2011, 10:42:00 PM
 #23

it doesnt help your reputation if you back out of a loan now  Roll Eyes
It doesn't help it, sure, but I don't think reputation should be harmed, either - since the lender (me) is happy for early repayment without penalty. That said, reputation would probably be improved if JackRabiit stuck with the original loan :-)

but personally I would not like to loan to someone who backs out of a deal, even with lender's consent

it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that

and about the question of how higher interest gives security...

It doesn't change the percentage of chance he pays back, but you get a better return for your RISK. ie: hypothetically, say there is a 25% risk of this being a fraud. now if he gives 3 BTC interest out of 15BTC, you lose 6BTC every 4 loans, now if it is 5 BTC out of 15BTC, you lose 0 BTC every 4 loans

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LMGTFY
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March 25, 2011, 10:45:55 PM
 #24

but personally I would not like to loan to someone who backs out of a deal, even with lender's consent

it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that
Definitely hasn't run off! I'll keep the details private, but will just note that I'm very happy with the way things are going and my trust levels are now well above zero.

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nster
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March 25, 2011, 10:47:36 PM
 #25

but personally I would not like to loan to someone who backs out of a deal, even with lender's consent

it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that
Definitely hasn't run off! I'll keep the details private, but will just note that I'm very happy with the way things are going and my trust levels are now well above zero.

yea I know he's been very up front with me and honest... plus he agrees with me alot, that can't be bad  Grin

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March 25, 2011, 11:15:12 PM
 #26

Huzzah! my idea is working! Grin

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
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March 26, 2011, 04:50:50 AM
 #27

The only problem here is very trivial amount of  money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.


ofc, however to get sch a loan you'd need OK reputation....

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Jered Kenna (TradeHill)
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March 26, 2011, 03:03:40 PM
 #28

The only problem here is very trivial amount of  money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.



Exactly. Time is also really important, how hard is it to build trust over a few days, rip people off and do it again.
Still the most important thing to remember is don't invest anything you can't afford to lose.

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March 26, 2011, 03:12:10 PM
 #29

The only problem here is very trivial amount of  money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.



Exactly. Time is also really important, how hard is it to build trust over a few days, rip people off and do it again.
Still the most important thing to remember is don't invest anything you can't afford to lose.

Couple of points: "don't invest anything you can't afford to lose" - absolutely. I could, if worst came to worst, write off the 15 BTC.

Re: scalability: yes and no. In terms of loan-size, which I suspect you (Vladimir) are referring to, then yes - absolutely. In terms of "loan book size" (i.e. number of loans) then no: I think this could scale.

Re: trust: this is something that the PayPal -> BTC providers have had to consider, and I'd imagine that lessons they've learned would be applicable to BTC lending as well - things like start small, build up trust. Risk assessment would need to consider how well known a borrower was, how much was being borrowed, what the borrower felt they could reasonably repay (and whether the lender believed that!) etc.

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Jered Kenna (TradeHill)
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March 26, 2011, 03:16:44 PM
 #30

The only problem here is very trivial amount of  money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.



Exactly. Time is also really important, how hard is it to build trust over a few days, rip people off and do it again.
Still the most important thing to remember is don't invest anything you can't afford to lose.

Couple of points: "don't invest anything you can't afford to lose" - absolutely. I could, if worst came to worst, write off the 15 BTC.

Re: scalability: yes and no. In terms of loan-size, which I suspect you (Vladimir) are referring to, then yes - absolutely. In terms of "loan book size" (i.e. number of loans) then no: I think this could scale.

Re: trust: this is something that the PayPal -> BTC providers have had to consider, and I'd imagine that lessons they've learned would be applicable to BTC lending as well - things like start small, build up trust. Risk assessment would need to consider how well known a borrower was, how much was being borrowed, what the borrower felt they could reasonably repay (and whether the lender believed that!) etc.


I think a point that tops all of that is what you know about the borrower. If you've got a forum name and a btc address and that's it then I'd be more worried than if I had a verified land line / address / name etc etc. Since a lot of btc is anonymous by nature (but doesn't have to be) then I think it changes things.

If a guy at my office wants to borrow $5 for lunch that's a hell of a lot less risky than someone that I don't know their name / location or anything else.
But this goes without saying, I'm sure everyone else is already thinking it so I don't know why I typed it.

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March 26, 2011, 03:25:14 PM
 #31

Yup! it's all about the borrower and how well your gonna trust them based off what you know.

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
bencoder
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March 27, 2011, 12:22:52 AM
 #32

http://blockexplorer.com/address/17LMUQVqHrnPg3CZMECMBdW7XV1nr1A4K1

Yep, looks like it's being paid off at a good rate Wink

Was posting the repayment address publicly part of the plan to show your trustworthiness?
nanotube
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March 27, 2011, 07:25:42 AM
 #33

as far as the 'building up your trust' issue goes, take a look at the bitcoin-otc web of trust (links in sig)

Join #bitcoin-market on freenode for real-time market updates.
Join #bitcoin-otc - an over-the-counter trading market. http://bitcoin-otc.com
OTC web of trust: http://bitcoin-otc.com/trust.php
My trust rating: http://bitcoin-otc.com/viewratingdetail.php?nick=nanotube
Fiyasko
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March 27, 2011, 03:53:41 PM
 #34

http://blockexplorer.com/address/17LMUQVqHrnPg3CZMECMBdW7XV1nr1A4K1

Yep, looks like it's being paid off at a good rate Wink

Was posting the repayment address publicly part of the plan to show your trustworthiness?

Heh i didnt post the repayment address ask the other dude lol.

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
LMGTFY
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April 01, 2011, 04:56:11 PM
 #35

I have now received 20 BTC from JackRabiit, and the loan is repaid in full, including interest!

Very happy with how things turned out: JackRabiit repaid consistently and quickly, greatly surpassing my expectations.

I've rated JackRabiit "+1" here.

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nster
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April 01, 2011, 05:54:50 PM
 #36

7 Days, 5 BTC?   Shocked

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Fiyasko
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April 01, 2011, 06:18:01 PM
 #37

7 Days, 5 BTC?   Shocked
Well.. when you put it like that it does seem less doesnt it?

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
asdf
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April 02, 2011, 12:57:50 AM
 #38

Hi, I would like to ask anyone in the bitcoin community if they would consider Loaning 45BTC's

My hopes are to increse my personal amount of "forum trust" ...

... But Mr.HighTrust could be Mr.xyz in disguise, Heavily and Effectivly boosting his own trust off fake users.


xyz: Hi I would like a loan of XBTC, will repay YBTC.
abc: Sure, here's XBTC.

later...

xyz: here is your YBTC back.
abc: thank you. I and the other forum members will surely trust you now, xyz.


xyz == abc. Problem?
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April 02, 2011, 03:31:15 AM
 #39

Hi, I would like to ask anyone in the bitcoin community if they would consider Loaning 45BTC's

My hopes are to increse my personal amount of "forum trust" ...

... But Mr.HighTrust could be Mr.xyz in disguise, Heavily and Effectivly boosting his own trust off fake users.


xyz: Hi I would like a loan of XBTC, will repay YBTC.
abc: Sure, here's XBTC.

later...

xyz: here is your YBTC back.
abc: thank you. I and the other forum members will surely trust you now, xyz.


xyz == abc. Problem?

xyz: Hi I would like a loan of XBTC, will repay YBTC.
abc: Sure, here's XBTC.

Days later.

abc: Where's my YBTC?
xyz: Oh, one sec.

Seconds later...

xyz: Hi, I would like a loan of YBTC, will repay ZBTC.
def: Sure, here's YBTC.

A bit later...

xyz: Here's YBTC.
abc: Finally. Well, you repaid me regardless. (+1 rep)

Days later:

def: Where's my ZBTC?

...Repeat.

BitterTea
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April 02, 2011, 03:55:09 AM
 #40

xyz: Hi I would like a loan of XBTC, will repay YBTC.
abc: Sure, here's XBTC.

Days later.

abc: Where's my YBTC?
xyz: Oh, one sec.

Seconds later...

xyz: Hi, I would like a loan of YBTC, will repay ZBTC.
def: Sure, here's YBTC.

A bit later...

xyz: Here's YBTC.
abc: Finally. Well, you repaid me regardless. (+1 rep)

Days later:

def: Where's my ZBTC?

...Repeat.

^ Trollnomics
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