Best way To lend | Bitcointalksearch.org

arvindr

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Quote from: Samix on November 30, 2014, 02:40:31 AM

At the end !!

the best way is ~~lend with collateral ~~ !

and 2nd : i,ll lend to those peoples without collateral which are known by myself

You are probably safe to lend small amounts to senior members and beyond without collateral. I don't think they will risk a negative reputation for a small amount of bitcoins. But for others, its best to stick with collateral.

Samix

member

Activity: 112

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At the end !!

the best way is ~~lend with collateral ~~ !

and 2nd : i,ll lend to those peoples without collateral which are known by myself

Magic8Ball

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Quote from: scarsbergholden on November 29, 2014, 03:15:24 PM

If you are going to lend without collateral, you need to be sure that you know him in RL, you want to make sure that he lives in a court jurisdiction that is close to where you live and that is willing to enforce contracts, and to properly document the loan agreement in writing.

If you are friends with the person borrowing money from you then getting repaid hopefully should not be a problem (especially if you are lending only small amounts) as I would at least hope that he would not scam a friend. However you do want to be sure that you have a way to enforce the loan agreement in the event that he defaults

EDIT: I just realized that you you said you will not lend without collateral. This makes it a lot simpler. You need to have the borrower send something that has a stable value and is liquid to a trusted third party escrow, then you send the bitcoin to the borrower once the escrow confirms receipt of the irreversible collateral. Once you have been repaid with interest the escrow will send the collateral back to the borrower

If you are lending out here, you need to get an escrow to hold the collateral as they can not be sure that you are not collateral scamming.

scarsbergholden

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If you are going to lend without collateral, you need to be sure that you know him in RL, you want to make sure that he lives in a court jurisdiction that is close to where you live and that is willing to enforce contracts, and to properly document the loan agreement in writing.

If you are friends with the person borrowing money from you then getting repaid hopefully should not be a problem (especially if you are lending only small amounts) as I would at least hope that he would not scam a friend. However you do want to be sure that you have a way to enforce the loan agreement in the event that he defaults

EDIT: I just realized that you you said you will not lend without collateral. This makes it a lot simpler. You need to have the borrower send something that has a stable value and is liquid to a trusted third party escrow, then you send the bitcoin to the borrower once the escrow confirms receipt of the irreversible collateral. Once you have been repaid with interest the escrow will send the collateral back to the borrower

arvindr

full member

Activity: 182

Merit: 100

Quote from: Samix on November 29, 2014, 04:27:59 AM

Quote from: Vod on November 29, 2014, 04:21:43 AM

Quote from: Samix on November 29, 2014, 04:18:57 AM

hi guyz .

I want to lend some person who really need some btc but dont know what is the best way to lend ? without collateral i m not going to give loan !!

please give me some idea`s

cheers!

The best way to lend is with collateral.

Have the person you are lending to provide something that can easily be sold to cover the loan should it not be repaid. Send this collateral to a third party to hold onto. If the person does not pay you back, you get the collateral.

https://bitcointalksearch.org/topic/edu-the-rule-of-no-collateral-no-loan-ignore-at-your-own-risk-577765

well sometimes i think that some peoples really need the loan but they dont have the collateral !! is there any way that i can easily understand a guy to whom i m providing BTC?

Maybe it will work in the real word, where you are lending physical money with an agreement. But the possibility of scams existing in bitcoins is a lot, so people don't risk it. However, if its a trusted member of the community, then some people are willing to lend money to them on certain terms.

Samix

member

Activity: 112

Merit: 10

Quote from: Vod on November 29, 2014, 04:21:43 AM

Quote from: Samix on November 29, 2014, 04:18:57 AM

hi guyz .

I want to lend some person who really need some btc but dont know what is the best way to lend ? without collateral i m not going to give loan !!

please give me some idea`s

cheers!

The best way to lend is with collateral.

Have the person you are lending to provide something that can easily be sold to cover the loan should it not be repaid. Send this collateral to a third party to hold onto. If the person does not pay you back, you get the collateral.

https://bitcointalksearch.org/topic/edu-the-rule-of-no-collateral-no-loan-ignore-at-your-own-risk-577765

well sometimes i think that some peoples really need the loan but they dont have the collateral !! is there any way that i can easily understand a guy to whom i m providing BTC?

Vod

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Licking my boob since 1970

Quote from: Samix on November 29, 2014, 04:18:57 AM

hi guyz .

I want to lend some person who really need some btc but dont know what is the best way to lend ? without collateral i m not going to give loan !!

please give me some idea`s

cheers!

The best way to lend is with collateral.

Have the person you are lending to provide something that can easily be sold to cover the loan should it not be repaid. Send this collateral to a third party to hold onto. If the person does not pay you back, you get the collateral.

https://bitcointalksearch.org/topic/edu-the-rule-of-no-collateral-no-loan-ignore-at-your-own-risk-577765

Samix

member

Activity: 112

Merit: 10

hi guyz .

I want to lend some person who really need some btc but dont know what is the best way to lend ? without collateral i m not going to give loan !!

please give me some idea`s

cheers!

Topic: Best way To lend (Read 1237 times)