I have never loaned for an account before, so what is protocol here? Obviously I would change the password, but also the email? Can anyone chime in on how I can protect myself from him taking the account back?
I suppose if he did take it back..I could give him red trust, but that doesn't really help me much lol.
I think the amount being asked to lend is too much for a senior account, but if you are comfortable lending this much for a senior account that is up to you.
You would need to change the password, email and BTC profile address. It would also be advisable to get a signed message from an address on an old, unedited post (edited a few mins/hours after it was made is probably okay). After you have done all this then you send the BTC that you are lending to him and provide a public repayment address. Once he repays to the public repayment address then you change the password back to
what it was previously so he can access it without you telling it to him. If he forgets what the password was previously then I would require a signed message from the address you sent to (or some other address that makes you certain you are giving the account back to the right person - or some other method to give you certainty you are giving it back to the right person).
If he defaults then you would either need to use it in a signature campaign or sell it to make your money back. If you are using it in a signature campaign you need to factor in your time when determining how much you will make from it.
EDIT: I also change the signature on the account to message you with any questions regarding the account and that it is being held as collateral for a loan.
