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Author Topic: Whats up with the people loaning bitcoin to increase their trust?  (Read 1765 times)
UserNameUnderConstruction
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February 21, 2015, 11:07:20 AM
 #1

The lending area is full of people lending bitcoin to others for two reasons:

1. Earn a profit becase of interest
2. Get trust from other users.


i get the first one obviously but its quite obvious that some of those over at the lending sub forum are only doing it to get green trust or loads and loads of untrsted positives. is that allowed? It's effectivly buying trust and i dont see how other default trust members dont negative trust them themselves.
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February 21, 2015, 11:25:39 AM
 #2

You are right! This is allowed and there isn't many threads. If there is no such thread, Lending sub-forum will be filled with loan-request, take a look at marcotheminer's thread, it has now 72 pages, if all of them were to start a new thread...(ofcourse, there were marcotheminer's replies too). Even if there is no such thread, both 1 & 2 will happen when others' ask for loan.

   -MZ

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February 21, 2015, 11:29:00 AM
 #3

people should not give trust to the people lending them they dont show any sort of trust as they are just profiting and they dont handle any collateral the escrow does macro is the one that I saw that seems to be only doing it for the green trust
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February 21, 2015, 11:34:08 AM
 #4

You could say the same about buying anything on here or using certain escrows. The feedback system is there as a guide and you can choose to disregard a persons feedback if it's mostly from taking out small loans.

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February 21, 2015, 11:34:29 AM
 #5

As we can't objectively decide if a user is buying trust or just getting a loan and the policy not to moderate possible scammers, we leave those people alone. However, if you see one, leave a nice negative feedback on their Trust page about them doing such shady deals.


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Muhammed Zakir
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February 21, 2015, 11:44:03 AM
 #6

people should not give trust to the people lending them they dont show any sort of trust as they are just profiting and they dont handle any collateral the escrow does macro is the one that I saw that seems to be only doing it for the green trust

If a person is really buying trust feedback, it isn't a hard thing to do a *fake collateral* for making the feedback stronger.

  • The lender can tell borrower to post an address-1 which contain Altcoin X in thread.
  • Lender can reply to that post telling to move coins to address-2.
  • Lender move the coins from address-1 to address-2 and PM TXID to borrower.
  • Borrower post in the thread.
  • Lender confirms.

At the time of repayment, the lender(& borrower) can do the same thing by moving the coins from address-2 back to address-3 or to the old address, address-1.

   -MZ

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February 21, 2015, 03:46:23 PM
 #7

You are correct. This also applies to both people who are borrowing funds and who are lending out funds. As a result the lending section is very dangerous and you should observe activity in the lending section for a long time before financially participating.

There have been many instances where I have seen people claim to have gotten loans from sketchy lenders as a reason why they should be trusted. Unless you trust the lender enough to confidently say they actually gave a loan to someone (and did not essentially "lend" to themselves) then you should not take their loan into consideration when deciding if you  should lend to them without collateral. I know of a few lenders where I am fairly confident that they are simply lending to their own accounts in order to build up trust for their alts, although this does rely on some level of speculation.

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February 21, 2015, 03:57:35 PM
 #8

The lending area is full of people lending bitcoin to others for two reasons:

1. Earn a profit becase of interest
2. Get trust from other users.


i get the first one obviously but its quite obvious that some of those over at the lending sub forum are only doing it to get green trust or loads and loads of untrsted positives. is that allowed? It's effectivly buying trust and i dont see how other default trust members dont negative trust them themselves.

1. Earn a profit becase of interest

Yes, lender need interest to give a loan

2. Get trust from other users.

Especially if you're loaning on default trust, it's one of abusing trust.
Hope the default trust member not easy to give a trust



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February 21, 2015, 04:10:01 PM
 #9

1. Earn a profit becase of interest

Yes, lender need interest to give a loan

Wrong! It is optional.

2. Get trust from other users.

Especially if you're loaning on default trust, it's one of abusing trust.
Hope the default trust member not easy to give a trust

If the BTC a use loaned was high and was done at he/she utmost importance, there is a chance for positive trust feedback. I don't say it is abusing as trust feedback can be put for such things too but it happens sometime.

   -MZ

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February 21, 2015, 04:50:38 PM
 #10

1. Earn a profit becase of interest

Yes, lender need interest to give a loan

Wrong! It is optional.

2. Get trust from other users.

Especially if you're loaning on default trust, it's one of abusing trust.
Hope the default trust member not easy to give a trust

If the BTC a use loaned was high and was done at he/she utmost importance, there is a chance for positive trust feedback. I don't say it is abusing as trust feedback can be put for such things too but it happens sometime.

   -MZ

But we cant say that all the people getting loan or giving loan here purely working on getting or giving loan, but they are working on getting positive feedback







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February 21, 2015, 06:24:25 PM
 #11

-snip-
But we cant say that all the people getting loan or giving loan selling or buying goods here purely working on getting or giving loan selling or buying goods, but they are working on getting positive feedback

This is true for almost all business here.

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February 28, 2015, 11:31:52 AM
 #12

some people are lending money to support others and to get reputation with less interest loans while many of them running a lending business and making good other

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February 28, 2015, 12:19:10 PM
 #13

some people are lending money to support others and to get reputation with less interest loans while many of them running a lending business and making good other

Like me?

   -MZ

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February 28, 2015, 01:16:37 PM
 #14

some people are lending money to support others and to get reputation with less interest loans while many of them running a lending business and making good other

Like me?

   -MZ


i think YES you fit in this categories

Quote
★[No Collateral]★[No Interest]★ Offering Micro-Loans To Everyone!  by -MZ








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February 28, 2015, 01:27:53 PM
 #15

It's like on Ebay when people sell hundreds of really cheap items to boost their feedback score (especially now with all the new account restrictions).


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Satoshi is rolling in his grave. #bitcoin


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February 28, 2015, 01:32:13 PM
 #16


The lending area is full of people lending bitcoin to others for two reasons:

1. Earn a profit becase of interest
2. Get trust from other users.


i get the first one obviously but its quite obvious that some of those over at the lending sub forum are only doing it to get green trust or loads and loads of untrsted positives. is that allowed? It's effectivly buying trust and i dont see how other default trust members dont negative trust them themselves.

1. Earn a profit becase of interest

Well the first one is obvious, and its just bussiness.

2. Get trust from other users.

If anyone is to take (in 99% cases) micro loans, they sure dont need to +rep the loan giver. I know i wouldnt, just because someone lends you like 0,05B doesnt mean that the person is trusted,
and those who do give +rep dont know how its supposed to be used.
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February 28, 2015, 01:50:57 PM
 #17

some people are lending money to support others and to get reputation with less interest loans while many of them running a lending business and making good other

Like me?
i think YES you fit in this categories

Quote
★[No Collateral]★[No Interest]★ Offering Micro-Loans To Everyone!  by -MZ

Does it really make sense saying "squeezing is better than helping"? Huh - no offense against lenders.

@BitcoinAddicts: Every lenders, regardless of the interest they charge, is getting positive trust feedback.

   -MZ

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February 28, 2015, 01:57:08 PM
 #18

I think trust is every people choices, so we can't say anything if there are no people trust us

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February 28, 2015, 02:01:32 PM
 #19

I suggest anyone ever considering doing a transaction or trade with anyone. Will not only look at the trust score, but the context. If someone has positive feedback for a loan, then it's your decision to consider that as either valid or not. I don't believe that trust needs to be given to anyone giving the loan, but it's up to the person who is lending.

This goes for anything though, always look at the context of the feedback. I would be wary of people loaning Bitcoin interest free or basically interest free, as that does look like they are trying to build their trust up, but that's my opinion and will vary from person to person.

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