Legendary Memeber defaulted 0.023 BTC Loan [seleme]

[shasan]

What happened:: Loan Defaulted

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=22145

Reference Link: https://bitcointalk.org/index.php?topic=5030169.msg62286786#msg62286786
Amount Scammed:  0.023BTC
Payment Method: BTC
Proof of Payment: https://www.blockchain.com/explorer/transactions/btc/d32d06f694bd373c4ad806a20cf642baf63b76c037848e650bb631504d859362

Additional Notes: I have waited about a year but no response from the borrower.
Flag: https://bitcointalk.org/index.php?action=trust;flag=3314

[shasan]

Reserve

[Don Pedro Dinero]

The pity of it is that the guy hasn't logged into the forum for a year, so I don't think the flag, which I have supported, is going to do much good.

Is lending business profitable for you? I remember Royse777 said he quit because after a while and a few defaults it was not profitable for him.

[SquirrelJulietGarden]

There are more activities since 2017 than previous years and you can see changes here.
https://bitcointalk.org/index.php?action=profile;u=22145;sa=showPosts;start=2160

From page 107 to 110, there are very limited posts in three years 2016 2017 and 2018 but after that there are many posts since 2018.

I am unsure but the possibility of account change is around 2017 to 2018 can be investigated.

[hugeblack]

Flag supported, why didn't get negative trust yet?

[Rikafip]

Damn, yet another loan defaulter, sorry to see that as amount is far from negligent. Anyway, flag supported but unfortunately I doubt it will make OP to remedy the situation.

Is lending business profitable for you?

I was just about to ask the same thing. Dunno, to me it seems like a totally not worth the time and effort, very bad risk to reward ratio.

[aliveNFT]

Huge lose of almost $ 1600, i hope that he will come to his senses and return to repay the loan.
Flag supported

[Charles-Tim]

Flag supported and I have also given the user a negative feedback.

Huge lose of almost $ 1600, i hope that he will come to his senses and return to repay the loan.
Flag supported

The loan would be equivalent to around $650 or less at the time as bitcoin was not more than $27500 on the May 23rd, 2023. Even this amount is still very huge for me. And in this kind of instance, 1 BTC is equal to 1 BTC.

[Hazink]

Is lending business profitable for you?

I was just about to ask the same thing. Dunno, to me it seems like a totally not worth the time and effort, very bad risk to reward ratio.

I have seen somewhere that Shasan replied to such a question, trying to get a link to the post, which is hard for me to search out, maybe because I'm on mobile. 
 
His reply, if I could remember correctly, is that "if it's for profit, he could have stopped his loan service because his intention is just to help those in need," which a lot of people take advantage of. And there was a member out of joke who also said the loan service should be "Shasan Charity" or something like that. I can't remember those statements word for word, but it's not far from it.

[JollyGood]

I have no recollection ever engaging with seleme but he was enrolled on the Duelbits campaign therefore had a steady revenue stream providing he fulfilled his post quota. It is probably just a process for members to tag loan defaulters and support  associated flags even though we are fairly certain it will not help get his money back. A year is a long time to wait for a loan to be repaid. The OP must have felt immensely let down when all those missed deadlines on the original repayment agreement were not met.

What I find strange is the timing. He took the loan on 23rd May 2023 and made his last post on 24th July 2023 (two months between the two). There is a chance this is not scam related but something happened to him in real life but speculation does not negate facts about defaulting on the loan.

The pity of it is that the guy hasn't logged into the forum for a year, so I don't think the flag, which I have supported, is going to do much good.

[BitcoinGirl.Club]

Flag supported and negative feedback left. Sorry to hear your loss. How many scammers you need to stop this business LOL. The person took a loan, repaid it, you both left positive feedback to each others. Then he took larger loan and defaulted. It looks like a good technique for them and you are the one easily giving away the money.

[Lafu]

I also supporting the Flag and sorry for your loss on that huge amount.
As others already have written about that the User was not active for a about an year i guess that he will not come back again.
Fingers crossed that this happen again for you.

I left also a neagtive Feedback on that Account.

[Rikafip]

His reply, if I could remember correctly, is that "if it's for profit, he could have stopped his loan service because his intention is just to help those in need," which a lot of people take advantage of.

Surely there must be a better way to help people in need, but to each his own.

It looks like a good technique for them and you are the one easily giving away the money.

Yeah, not the worst exit scam technique, when you feel like you don't wanna be a part of this forum anymore, and its a safer option than selling your account. 

[shasan]

The pity of it is that the guy hasn't logged into the forum for a year, so I don't think the flag, which I have supported, is going to do much good.

Is lending business profitable for you? I remember Royse777 said he quit because after a while and a few defaults it was not profitable for him.

You might be right but you know it is frustrating to check now and then whether the user logs in or not and whether the user trying to take any other loan or trying to make any transaction in which the payment method is reversible. After creating the flag it will save my time as well as save others from being scammed. It made me a lot of loss and I am trying to recover a few of them and also help a lot of people in the forum.

I am unsure but the possibility of account change is around 2017 to 2018 can be investigated.

It might be but the user made several transactions with me but did not know what happened last time.

Flag supported, why didn't get negative trust yet?

Sorry forgot to create a negative trust. Thanks.

[logfiles]

I am just curious @shasan, that user kept being active for a month after the suggested deadline of the loan repayment. It seems to me he was still active in some signature campaign before he finally logged out. What reason/excuse did he give to you at that time?

Anyway, sorry about that huge loss.

[shasan]

I was just about to ask the same thing. Dunno, to me it seems like a totally not worth the time and effort, very bad risk to reward ratio.

You are right and I should stop it but a lot of members really need the funds. If for a few bitch we all stop then these members will be affected.

Huge lose of almost $ 1600, i hope that he will come to his senses and return to repay the loan.
Flag supported

Thanks for the support. The amount was less than 600$ and it was easy for the borrower to repay as the borrower was in a signature campaign.

[JollyGood]

Maybe he never got in touch with the OP to explain why there were any delayed payments even though he was active past the due date. I think leaving a year between defaults and posting scam accusations is probably not conducive but I guess it is down to the lender, they have their own criteria and look for patterns and probably allow time for repayments to happen. Still, it is another loss for the lender and nobody deserves that.

I am just curious @shasan, that user kept being active for a month after the suggested deadline of the loan repayment. It seems to me he was still active in some signature campaign before he finally logged out. What reason/excuse did he give to you at that time?

Anyway, sorry about that huge loss.

[aliveNFT]

You are right and I should stop it but a lot of members really need the funds. If for a few bitch we all stop then these members will be affected.

It already looks like charity on your part.

[AHOYBRAUSE]

Damn, yet another loan defaulter, sorry to see that as amount is far from negligent. Anyway, flag supported but unfortunately I doubt it will make OP to remedy the situation.

Is lending business profitable for you?

I was just about to ask the same thing. Dunno, to me it seems like a totally not worth the time and effort, very bad risk to reward ratio.

Actually, to be honest I don't see it as a bad deal for him.
Sure, here and there is a default, that is sad and nasty but it just happens unfortunately. And as far as I can see this doesn't happen very often though.
Many people repay their loans and with 10% per month it's a good business.
Me alone I think over the past maybe 1.5 years I must have paid at least 600$ in % fees, at least.  I believe it might be way more, haha.

Actually, if I had the funds and Shasan wouldn't be here, I would do this business myself, that's how convinced I am about it's profit probability.

I tip my hat to Shasan as well, he provided me with several loans and it really helped. It's great to have such a person in this forum and I am sad to see another loan default. 

Flag supported of course.

[ABCbits]

I was just about to ask the same thing. Dunno, to me it seems like a totally not worth the time and effort, very bad risk to reward ratio.

You are right and I should stop it but a lot of members really need the funds. If for a few bitch we all stop then these members will be affected.

But looking at your latest threads, most of them are about someone default your loan. At very least, i think you need to make your lending terms more strict.