Request to Lenders

[merited]

I noticed almost all lenders give no collateral loan to reputed members. I want to say before giving loan without collateral Keep in mind below theory:
1. Check their recent activity
2. Check their trust ratings (trusted or untrusted)
3. Double check signature or previous stake address.
4. Try to understand how important the account. Few member id is precious to them than few legendary. Earlier who has written anything even gave bounty report became legendary so their account is not important to them and also they have multiple account. So, if you give 500$ loan that might be defaulted.

And also after filling the loan please give neutral ratings so that other people can know that borrower already taken loan from others either borrower is higher rank even DT2 member.

[HiDevin]

Your name fits this post, but alas I have used up all my Smerits. Hopefully Vod or someone here tips you some.

No one ever tries to check their trade history to be honest, if it's empty then there is a high chance of the user defaulting.

[audaciousbeing]

I noticed almost all lenders give no collateral loan to reputed members. I want to say before giving loan without collateral Keep in mind below theory:
1. Check their recent activity
2. Check their trust ratings (trusted or untrusted)
3. Double check signature or previous stake address.
4. Try to understand how important the account. Few member id is precious to them than few legendary. Earlier who has written anything even gave bounty report became legendary so their account is not important to them and also they have multiple account. So, if you give 500$ loan that might be defaulted.

And also after filling the loan please give neutral ratings so that other people can know that borrower already taken loan from others either borrower is higher rank even DT2 member.

I read a thread about a loan made by actmyname and I realize that it might seems that its a no collateral loan, but its not. The account ID itself worth more than the collateral. I was even more surprised that what an individual went ahead to make the payment just before negotiations was concluded that it ended in double payment that he needed to return even with fees that tells you how someone value his name more than few btc.

The point is, while it is essential to keep to the rules above, some individuals have paid their dues of being a worthy ambassador on the forum and their name speaks gold. This should even serve as a lesson to those who have been tagged for asking for a non-collateral loan that its nothing personal but a simple hard-work and good behavior that has been discharged by the person involved.

[merited]

Your name fits this post, but alas I have used up all my Smerits. Hopefully Vod or someone here tips you some.

Thanks for your appreciation.

No one ever tries to check their trade history to be honest, if it's empty then there is a high chance of the user defaulting.

You are right in this point.

I read a thread about a loan made by actmyname and I realize that it might seems that its a no collateral loan, but its not. The account ID itself worth more than the collateral. I was even more surprised that what an individual went ahead to make the payment just before negotiations was concluded that it ended in double payment that he needed to return even with fees that tells you how someone value his name more than few btc.

The point is, while it is essential to keep to the rules above, some individuals have paid their dues of being a worthy ambassador on the forum and their name speaks gold. This should even serve as a lesson to those who have been tagged for asking for a non-collateral loan that its nothing personal but a simple hard-work and good behavior that has been discharged by the person involved.

Probably you have missed my 4 number point. Here it is:

4. Try to understand how important the account. Few member id is precious to them than few legendary. Earlier who has written anything even gave bounty report became legendary so their account is not important to them and also they have multiple account. So, if you give 500$ loan that might be defaulted.

[actmyname]

(somewhat related)

5) Lenders should designate the value of a bitcointalk account as 0 for collateral purposes. I don't know how many times I need to repeat this.

There is only one difference between a zero-collateral loan and a bitcointalk-collateral loan. That being, in the case of a default, the account has no chance of being used by the scammer again.

Given this, why do people ignorantly associate value with an account? Don't use metrics that benefit scammers. If you weren't going to give them the loan without the account, then don't give them the loan with the account.

I read a thread about a loan made by actmyname and I realize that it might seems that its a no collateral loan, but its not.

Well, it is. Though you're right about the reputation part (virtue > value), I believe there has been a case of a trusted user exit-scamming via loan defaulting in the past.

Just follow the principle of risk aversion. Determine if it's enough of a risk to send BTC for the stated return, while considering factors like time (if btc price is relevant) and reputation. It won't be precise but one should always be smart when it comes to money.

[Patatas]

4. Try to understand how important the account. Few member id is precious to them than few legendary. Earlier who has written anything even gave bounty report became legendary so their account is not important to them and also they have multiple account. So, if you give 500$ loan that might be defaulted.

No, they should just stop taking accounts as collateral if they don't know the lender personally. You can never truly know who's the real person behind the account. Take Atriz == Zapo or pinkman12345 == ChevasRegal for instance. Don't let the rank and green trust of the account blind you.

[buwaytress]

4. Try to understand how important the account. Few member id is precious to them than few legendary. Earlier who has written anything even gave bounty report became legendary so their account is not important to them and also they have multiple account. So, if you give 500$ loan that might be defaulted.

No, they should just stop taking accounts as collateral if they don't know the lender personally. You can never truly know who's the real person behind the account. Take Atriz == Zapo or pinkman12345 == ChevasRegal for instance. Don't let the rank and green trust of the account blind you.

If lenders view lending as a business, then surely there is a risk model they use, however basic and erratic it may be when it comes to this section. I would even go as far as to say that knowing the lender personally increases confidence, but not the likelihood of repayment. Past performance in terms of trust is no guarantee of future performance, only past performance in repayment - that's how the lending industry works.

But as pointed out above, don't use metrics that benefit scammers - scammers rely on the hope that lenders make this mistake. Do what the successful ones do and simply don't accept accounts as collateral.