Legendary Member defaulted 130$ Loan [vennali]

[shasan]

What happened:: Loan Defaulted

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=152469

Reference Link: https://bitcointalk.org/index.php?topic=5030169.msg63692892#msg63692892
Amount Scammed:  130$ in BTC
Payment Method: BTC
Proof of Payment: https://www.blockchain.com/explorer/transactions/btc/9e4c9c1b0c7d82aa176f5828021cd37f62248655dc17746b7e24becc29cad023

Additional Notes: I have waited several months but no response.


Flag: https://bitcointalk.org/index.php?action=trust;flag=3325

[shasan]

Reserve

[nutildah]

I supported your flag. As your "forum friend" for many years now, I realize that you provide a much-needed service, and what you do is at this point beyond altruistic. But as they say, "no good deed goes unpunished." I can only hope for your sake that you will be a bit more selective with whom you are granting loan requests, going forward. And once again, sorry for your loss.

[logfiles]

These loan defaulters are really eating way your profit. I just checked on the spreadsheet and noticed that the then campaign manager keep warning him about poor post quality. He never changed his habits and got booted out of the campaign. I think from that point he just decided to log out and never repay the loan

I think Shasan you need to be very careful when giving out loans to members. So may campaigns are exiting the space and not, so many are being launched lately, so some of these loan defaulters mostly rely on only signature campaigns to make payment. Once the signature campaign closes, they have nowhere else to get money from, and they just decide to go silent.

Flags supported

[Woodie]

Over 2000 in activity shows this person invested time into the forum, but to go down because of $130 pssh, this hurts!

And a quick look at vennalis profile shows this person was a good poster too....and whatever is happening here I don't understand...why are legendary accounts being burned down like this....same farmer maybe

Anyway, perhaps someone from India has some way of getting hold of this fellow to encourage the user to clear their name and most importantly their debt!

But credit should be given to Shasan for managing his risk well....all these Legendary accounts defaulting of late are all of a certain credit score of less than $150 which hurts the business either way...but with time the business will recover lost funds for sure.

Flag supported.

Offtopic/advice: a simple solution for anybody owing is to communicate with the lender, it doesn't get easier than that!  

[shasan]

These loan defaulters are really eating way your profit. I just checked on the spreadsheet and noticed that the then campaign manager keep warning him about poor post quality. He never changed his habits and got booted out of the campaign. I think from that point he just decided to log out and never repay the loan

I think Shasan you need to be very careful when giving out loans to members. So may campaigns are exiting the space and not, so many are being launched lately, so some of these loan defaulters mostly rely on only signature campaigns to make payment. Once the signature campaign closes, they have nowhere else to get money from, and they just decide to go silent.

Flags supported

You are right  but if the person could try to post regularly which could turned the user to continue on the campaign and if the person still being removed from the campaign then yet the person could create quality post and the user would be able to earn a lot of money then the moeny s/he has been defaulted.

[uchegod-21]

Vennali only appeared in SWG campaign spreadsheet 3 times and the 3 times, he was only paid twice and his remarks were consistent "low quality poster". I think that is the reason why AB Royse777 kicked him out of the campaign.
We don't need to be taught everything. In as much as sells of account is discouraged. Vennali would have sold his account for something around $400 to $500, if it's still a lucrative business, pay his debt and still have a good balance left for himself. Botb him, the account buyer and the lender will be happy, rather than destroying his account and leaving shasan at loss. This is the poorest decision I have seen in the forum.

[yahoo62278]

@shasan, seems like everyone is defaulting on you lately. Hate to see it as eventually it is going to drive you away from the lending business and there are a few(including myself) that borrow from time to time.

Not sure what advice to give you to make better  selections on whom to loan to, but I hope you figure it out soon and quit losing to the bad eggs.

[BitcoinGirl.Club]

Not again LOL

Flag supported and feedback left, although I don't think it helped at all.

Can someone count the number of topics and the total amount found from those topics so that we can see the numbers shasan suffered? I am just interested. Perhaps we can have a category in the next community award for Shasan's exclusive lending business 🤪

[Rikafip]

Another one bites the dust.  

And a quick look at vennalis profile shows this person was a good poster too

Take another look and you will see that not only he wasn't a good poster, but he was a classic shitposter.

....and whatever is happening here I don't understand...why are legendary accounts being burned down like this....same farmer maybe

Its fairly simple- he got kicked out of signature campaign which he probably meant to use to repay the loan and once he got kicked out due low quality, he disappeared. Therefore this thread.

[yahoo62278]

Not again LOL

Flag supported and feedback left, although I don't think it helped at all.

Can someone count the number of topics and the total amount found from those topics so that we can see the numbers shasan suffered? I am just interested. Perhaps we can have a category in the next community award for Shasan's exclusive lending business 🤪

$685 in usdt and .0892 in btc this year alone. Pretty brutal although most of that was by 2 users.

I know you're having a little fun here, but seriously is a decent chunk of money to lose.

[ABCbits]

Flag supported. But at this rate, we'll see you write new report every week. I also notice @vennali shows his email address.

We don't need to be taught everything. In as much as sells of account is discouraged. Vennali would have sold his account for something around $400 to $500, if it's still a lucrative business, pay his debt and still have a good balance left for himself. Botb him, the account buyer and the lender will be happy, rather than destroying his account and leaving shasan at loss. This is the poorest decision I have seen in the forum.

But looking for the buyer isn't that easy. If someone announce they sell their own account, it'll receive trust/negative feedback quickly.

[coin-investor]

Its fairlysimple- he got kicked out of signature campaign which he probably meant to use to repay the loan and once he got kicked out due low quality, he disappeared. Therefore this thread.

Because of this every one who are into Shasan's loan could become the next one to go, signature are becoming scarce but that does not mean members should lose hope better campaigns are coming, we just never know the next big campaigns like Stake and Duelbits will come so keep improving your contribution here in Bitcointalk.
I believe Shasan is easy to deal and restructuring the loan is a better option than scamming people and throwing away your account.

[JollyGood]

Once again, I am sorry to read about the OP losing more money. This is becoming an all too familiar situation in the scam accusation board. It seems the OP needs to have a dramatic change in the criteria that loan requesters need to meet before he hands over the money to them.

There are only a certain number of defaults that any lender can absorb before eventually ending the loan business or being selective enough to offer occasional loans only to older respected Legendary members that have far less chances of defaulting.

[examplens]

@shasan, seems like everyone is defaulting on you lately. Hate to see it as eventually it is going to drive you away from the lending business and there are a few(including myself) that borrow from time to time.

Not sure what advice to give you to make better  selections on whom to loan to, but I hope you figure it out soon and quit losing to the bad eggs.

I thought the same. I hope that his balance is positive and despite these losses, it still seems that there are too many loan defaulters. He would probably have to have slightly stricter conditions for approving loans.
Given that @shasan is the only one left as the most active lender, it would be a shame to lose such a service on the forum.

[uchegod-21]

But looking for the buyer isn't that easy. If someone announce they sell their own account, it'll receive trust/negative feedback quickly.

I think they recieve such tags when they go about it in a fishy way. If someone in debt announces that they want to sell their account to pay the debt. And someone offers to buy the account to enable them pay the debt, I think they will only have negative feedback to indicate change of ownership.

There are only a certain number of defaults that any lender can absorb before eventually ending the loan business or being selective enough to offer occasional loans only to older respected Legendary members that have far less chances of defaulting.

Most of the respected legendary members don't borrow often, so if OP offers his services only to them, it will not be lucrative.

[SamReomo]

I have also supported the flag but feel so bad to see that how legendary rank members are destroying their accounts for just $130 which isn't a lot at all.

Most of those legendary member can earn that amount in two weeks by participating in a good signature campaign while some of them can get around $200 per month or more.

However, that member had defaulted the loan and destroyed his reputation for just $130.

[tabas]

I'm sorry shasan that this has happened again, you're too kind to be trusting most of these loan defaulters because they're high-ranked members. You're so nice to them that you even gave this guy and the others who have defaulted on you for several months to come back and clean themselves by paying the loan they've taken. But with that chance, it shows that they don't have the intention of paying back the loan that they've taken from you.

Most of the respected legendary members don't borrow often

I agree and that's because most of them have been early holders and able to stack up a lot of BTCs on their stash and likely financially free. I hope that OP will be able to recover from all of these default losses.

[BitcoinGirl.Club]

$685 in usdt and .0892 in btc this year alone. Pretty brutal although most of that was by 2 users.

I know you're having a little fun here, but seriously is a decent chunk of money to lose.

At today's BTC rate it's $5,717 and $685 USDT. That's a lot to lose in a business. I don't get it. I think the only way to justify the service that the profit ration is good and he is in profit even after losing these balance.

[JollyGood]

I understand your point of view but when I put forward the opinion it was based on less chances of loan defaults. Rather than close down his lending business altogether it might be better for him to raise the criteria bar in order to minimise the chances of him completely losing out as a result of loan defaults. That way the business he operates will not be lucrative as he would want it to be as loan requests would be small in number but at least more of those loans would probably be paid back.

There are only a certain number of defaults that any lender can absorb before eventually ending the loan business or being selective enough to offer occasional loans only to older respected Legendary members that have far less chances of defaulting.

Most of the respected legendary members don't borrow often, so if OP offers his services only to them, it will not be lucrative.