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Author Topic: Let me get this right about lenders?  (Read 1802 times)
rexcoin
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January 28, 2012, 12:21:04 AM
 #1

Hmm this is my point of view on new users getting loans (i am new but have a better repayment history then 60% or more of others)
- You cant be a gambler since if you are you are considered a high risk - o.k maybe i should post im a crackhead then would i get a loan then?
- if you have 30-60 posts you can easily get upto 180 btc loans? hmm i seem to have more then 130 posts and max i ever posted was 85 btc (yes it was 100-150 btc but i CHANGED IT THINKING SOMEONE WOULD HELP)
- (i didnt check on this one but) if you have almost no loan history but you are supposely using the money for a "rig" you get the loan! Umm i dont mine and sometimes i DOUBT if they are using it for mining (yes im prob wrong) but just because i use the money to gamble i am not a high class crackheaded killer??? what if they are using it for stuff "worse then gambling" what if they are using it or a hit on someone (doubt it but still worth a mention i guess).
- if you keep lying about bullshit and that you sent payment you may get another loan. -no comment.
- if you offer 0% - 10% interest on a month loan you are likely to get it even more? uh i been paying 20% to the nice people who actually lent me and i PAID it, i can see if it was against the lenders religion, that i understand but i see these lenders and they DO charge interest so hmm...

Sorry for sounding mad, i am not mad at all just trying to understand.
So should i make a new account post 40+ messages ask for a 200 bitcoin loan and say i will use it for a "rig" - well too bad there i refuse to lie so i WILL not do that i rather be honest and paying - thank you.

Can someone please mention what im doing wrong besides being a gambler please?? Im just trying to figure out what i have to do to get a loan without lying or scamming? i dont believe in those two things.
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January 28, 2012, 12:24:48 AM
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So wait. You are mad because people won't loan money to someone who wants to use the loan to gamble?

rexcoin
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January 28, 2012, 12:25:03 AM
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Hmm not sure if im just being a cry baby - maybe i am. but if i pay back and am honest i REALLY dont see why i am such a bad person to lend to.

Sorry for the rant - but i am 23 years old (pretty young still) and when i dont understand something i ask others.
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January 28, 2012, 12:27:25 AM
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People don't loan money to gamblers.  Or crack heads for that matter...

People loan money when they perceive the risk is low.  Gambling is not low risk.

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January 28, 2012, 12:27:53 AM
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So wait. You are mad because people won't loan money to someone who wants to use the loan to gamble?

here we go,
first off as i said im not mad, and second - so you rather i spend the bitcoin on something worse like a hit on someone? yes i know gambling is not the best option, i know, but there getting there loan back + 20%, if i gamble it or if i bought a rig. dont see the big problem there? they get there money correct?
rexcoin
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January 28, 2012, 12:29:01 AM
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People don't loan money to gamblers.  Or crack heads for that matter...

People loan money when they perceive the risk is low.  Gambling is not low risk.

So next time i should lie about the loan? and be dishonest?
Besides im not using the 85 btc to gamble it, im using to pay back the 3 i owe so that i owe 1 person, better to owe 1 person then 3 i think?
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January 28, 2012, 12:32:35 AM
 #7

People don't loan money to gamblers.  Or crack heads for that matter...

People loan money when they perceive the risk is low.  Gambling is not low risk.

So next time i should lie about the loan? and be dishonest?
Besides im not using the 85 btc to gamble it, im using to pay back the 3 i owe so that i owe 1 person, better to owe 1 person then 3 i think?
Slow down man.  Where did I tell you to be dishonest?

Also, paying off your credit with credit is usually not a good idea.  It sounds like the real reason that you wouldn't get a loan is because you already owe 3 people money.  If you can't pay back them, why would you be able to pay back a new lender?

rexcoin
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January 28, 2012, 12:34:38 AM
 #8

I do think that lenders have a choice who to give and who not to give you are correct.
but if i had 200 bitcoins for example, and saw someone that wanted for example 50 bitcoins to gamble and offered 20% interest, BUT they had no late or defaulted loans, as opposed to someone who has 1-2 rep or none at all - and wanted to buy a rig or whatever they need it for, and request 150+ btc and offered less then 10% interest, i would chose the gambler.

No wonder lenders are getting scammed for 180+ bitcoins
but i dont like to scam and never would want to.
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January 28, 2012, 12:36:08 AM
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Quote
Can someone please mention what im doing wrong besides being a gambler please??


I don't think it is that you gamble. I think it is that you are apparently a bad gambler.


Seems like you are leveraging your loans to keep going.


Gamblers are not inherently a bad risk, but the good ones now their percentages for the game they play. (I.E. Poker and BlackJack, offline of course)

I'm not negative on your issue however, cause 'apparently' you are paying them back.


Best Regards.

Corporations have been enthroned, An era of corruption in high places will follow and the money power will endeavor to prolong its reign by working on the prejudices of the people until wealth is aggregated in a few hands and the Republic is destroyed. ~Abe Lincoln 1ApJdWUdSWYw8n8HEATYhHXA9EYoRTy7c4
rexcoin
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January 28, 2012, 12:37:58 AM
 #10

People don't loan money to gamblers.  Or crack heads for that matter...

People loan money when they perceive the risk is low.  Gambling is not low risk.

So next time i should lie about the loan? and be dishonest?
Besides im not using the 85 btc to gamble it, im using to pay back the 3 i owe so that i owe 1 person, better to owe 1 person then 3 i think?
Slow down man.  Where did I tell you to be dishonest?

Also, paying off your credit with credit is usually not a good idea.  It sounds like the real reason that you wouldn't get a loan is because you already owe 3 people money.  If you can't pay back them, why would you be able to pay back a new lender?

Sorry - i agree with paying credit for credit is bad yes, but i just want to owe 1 person -why? because its easier to pay them daily and to 1 bitoin address. plus i dont know why honestly - i cant have more then one of something on the internet - im serious - i only have 1 active email that i use daily, only one domain, only 1 hosting accoun - its not a disorder because i did have more then one of each - i just dont like having more then one :-P i know its werid.

And its not that i CANT pay them back, just read above - sorry i didnt clearify that.
rexcoin
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January 28, 2012, 12:41:55 AM
 #11

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Can someone please mention what im doing wrong besides being a gambler please??


I don't think it is that you gamble. I think it is that you are apparently a bad gambler.


Seems like you are leveraging your loans to keep going.


Gamblers are not inherently a bad risk, but the good ones now their percentages for the game they play. (I.E. Poker and BlackJack, offline of course)

I'm not negative on your issue however, cause 'apparently' you are paying them back.


Best Regards.
Hey dont call me a bad gambler - :-P
well not really about leveraging my loans to keep going, yes i am loosing in gambling so far but i still got backs up. But yea i hate to have more then 1 lender - i be honest i guess greed got the best of me when i should of just accepted one loan instead of 3. Except the fact that i was worried if i asked for a loan like i am now no one would accept (hey which is happening now :-P )
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January 28, 2012, 12:50:28 AM
 #12

I would never loan to a gambler.  What if you decided to gamble with my loan money, and then owed 4 people 170 BTC?  How are you going to pay that?  And how am I going to be sure you will pay it back?
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January 28, 2012, 12:52:05 AM
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Hey dont call me a bad gambler - :-P
When is the last time you actually won anything CLOSE to what you are currently spending on your game of choice ?
...you might want to look at it that way.

rexcoin
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January 28, 2012, 12:55:09 AM
 #14

I would never loan to a gambler.  What if you decided to gamble with my loan money, and then owed 4 people 170 BTC?  How are you going to pay that?  And how am I going to be sure you will pay it back?

Im going to guess you dont read my threads or posts at all (which is fine).

As i said on my post/thread the money i would get a loan on would go to the 3 people I owe, so that only 1 person is owed, i am going to pay by the way i stated on my post/thread. Isnt it a risk to loan anyone? not sure if you are religious but the only person that i think that would always pay back 100% is god.
rexcoin
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January 28, 2012, 12:56:52 AM
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Hey dont call me a bad gambler - :-P
When is the last time you actually won anything CLOSE to what you are currently spending on your game of choice ?
...you might want to look at it that way.
lets see:
https://bitcointalk.org/index.php?topic=61040.0

and to go futher more into that, i spent in total 6 bitcoins and won 90 bitcoins, paid my debt + interest

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January 28, 2012, 12:58:44 AM
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If you really want to consolidate your loans, then ask the person that is going to be the main loan to send the btc directly the the people you owe btc too.. otherwise, you could just take the coins from the four (now biggest) loan and disappear.  See why people are leary about loaning to pay back loans?

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January 28, 2012, 12:59:02 AM
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I would never loan to a gambler.  What if you decided to gamble with my loan money, and then owed 4 people 170 BTC?  How are you going to pay that?  And how am I going to be sure you will pay it back?

Im going to guess you dont read my threads or posts at all (which is fine).

As i said on my post/thread the money i would get a loan on would go to the 3 people I owe, so that only 1 person is owed, i am going to pay by the way i stated on my post/thread. Isnt it a risk to loan anyone? not sure if you are religious but the only person that i think that would always pay back 100% is god.
I have read some of your other threads.

The fact that you have to get a loan to pay back 3 other people is not comforting to me.  What would be comforting to me, is to say, "hey, I paid back these other three lenders out of my own pocket!"  As it is, you're just transferring the loan balance, which accomplishes nothing in a practical sense.  And for some reason, I have a hard time believing that you want to pay 20% interest just so you can drop your daily payments from 3 down to 1.  I'd much rather click the "send" button 3 times and keep that extra $90 in my pocket for the trouble.  Especially if I was so poor I couldn't even pay back loans I was making.

Sure, every loan is risky.  But loaning to a compulsive gambler is one of the more risky loans a person could make.  You are a very high-risk person to loan to, based on what you've told me.
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January 28, 2012, 01:02:21 AM
 #18

So wait. You are mad because people won't loan money to someone who wants to use the loan to gamble?

here we go,
first off as i said im not mad, and second - so you rather i spend the bitcoin on something worse like a hit on someone? yes i know gambling is not the best option, i know, but there getting there loan back + 20%, if i gamble it or if i bought a rig. dont see the big problem there? they get there money correct?

The fact that you gamble brings into question your judgment, which is a very important factor when we decide who to loan to. Someone could be rich as hell, give out his home address and everything, but I still wouldn't lend to him if I felt he had poor judgment. When I loan to someone, I need to evaluate based on the little information that I have how likely I am to get my money back.

One succinct way of putting some people's criteria is that "if you need a loan, I'm not going to give you one". That is, if you actually _need_ a loan for something, it means you're probably not the kind of person I want to lend to, because you were unable to plan your finances in order to not need to ask for money. On the other hand, if you want to borrow money to take better advantage of a money-making opportunity like arbitrage or an investment in a new venture, I'm a lot more willing to give you a chance.

Take common financial advice: it's generally considered stupid to take out a loan to buy a big-screen TV. On the other hand, if you're taking a loan to buy new equipment to expand your business, that's good. Other things equal, I'm going to think the latter kind of person is more responsible and will lend to them.

So yeah, what you do with the money is your business, of course, but when we try to build a mental risk model of borrowers, we'll probably avoid people who look irresponsible. There's also the "condoning bad behavior" aspect of things: any institutional gambling puts the odds in the house's favor, meaning you're getting screwed and you're choosing to get screwed. I don't want to have any part in helping you get screwed more, regardless of whether you want to get screwed. I don't want to help you buy coke or heroin either, or any other bad habits. It's not that I'm going to actively prevent you from doing it, but I don't want a part in it.
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January 28, 2012, 01:02:43 AM
 #19

I can answer your question if you want, but you may not like the answer.

If you keep gambling then you are certain to lose all of the money - that is a mathematical fact.  Some people do not like to gamble because of this obvious mathematical fact - I am one of them.  

What would be perfect for you would be to find another gambler to lend you the money, right?  You have two problems with this:

1) You will find that gamblers, like yourself, do not have any money to lend because they are busy gambling with it.

2) You will find that the lenders on this forum (and lenders in general) are not gamblers - otherwise we would be over in the gambler's forum gambling with our money and not here lending it out!

True, so far you have been able to pay everyone back but if you keep gambling then you will certainly lose everyting and not be able to pay everyone back.  Eventually some lender, maybe not today, but some time down the line is going to be left holding the bag - that is certain with gambling.

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January 28, 2012, 01:08:51 AM
 #20

If you really want to consolidate your loans, then ask the person that is going to be the main loan to send the btc directly the the people you owe btc too.. otherwise, you could just take the coins from the four (now biggest) loan and disappear.  See why people are leary about loaning to pay back loans?

Hi imsaguy - OMG i guess i should post my threads/posts on here :-P
On my newest loan i did just that, hmm let me rewrite the thread now.
but yes i did do the who i owed and in a post (not the main post. which i will edit now)

See i knew if i posted this i would get some answers - thanks guys. here is what i learned!

-Getting loan after loan for gambling = bad. Agreed there. will get that fixed on my new loan. will tell people i will not request a single loan after this loan is paid.

-Not showing in good detail how i will use the loan. - I should of said this:
"Need 85 bitcoins to pay back 3 lenders who lent me bitcoins, only want to loan to one person. if lender agrees to lend to me, please pay the 3 people i owe first" ect..

o.k trying to re-edit the loan thread. will think o more stuff soon - thanks again guys!



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