Topic: {closed}Looking for btc Loans Pay 4btc and get 4.5btc!{closed} - page 5. (Read 16757 times)
7 Days, 5 BTC?
I have now received 20 BTC from JackRabiit, and the loan is repaid in full, including interest!
Very happy with how things turned out: JackRabiit repaid consistently and quickly, greatly surpassing my expectations.
I've rated JackRabiit "+1" here.
Very happy with how things turned out: JackRabiit repaid consistently and quickly, greatly surpassing my expectations.
I've rated JackRabiit "+1" here.
http://blockexplorer.com/address/17LMUQVqHrnPg3CZMECMBdW7XV1nr1A4K1
Yep, looks like it's being paid off at a good rate
Was posting the repayment address publicly part of the plan to show your trustworthiness?
Yep, looks like it's being paid off at a good rate
Was posting the repayment address publicly part of the plan to show your trustworthiness?
Heh i didnt post the repayment address ask the other dude lol.
as far as the 'building up your trust' issue goes, take a look at the bitcoin-otc web of trust (links in sig)
http://blockexplorer.com/address/17LMUQVqHrnPg3CZMECMBdW7XV1nr1A4K1
Yep, looks like it's being paid off at a good rate
Was posting the repayment address publicly part of the plan to show your trustworthiness?
Yep, looks like it's being paid off at a good rate
Was posting the repayment address publicly part of the plan to show your trustworthiness?
Yup! it's all about the borrower and how well your gonna trust them based off what you know.
The only problem here is very trivial amount of money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.
Exactly. Time is also really important, how hard is it to build trust over a few days, rip people off and do it again.
Still the most important thing to remember is don't invest anything you can't afford to lose.
Couple of points: "don't invest anything you can't afford to lose" - absolutely. I could, if worst came to worst, write off the 15 BTC.
Re: scalability: yes and no. In terms of loan-size, which I suspect you (Vladimir) are referring to, then yes - absolutely. In terms of "loan book size" (i.e. number of loans) then no: I think this could scale.
Re: trust: this is something that the PayPal -> BTC providers have had to consider, and I'd imagine that lessons they've learned would be applicable to BTC lending as well - things like start small, build up trust. Risk assessment would need to consider how well known a borrower was, how much was being borrowed, what the borrower felt they could reasonably repay (and whether the lender believed that!) etc.
I think a point that tops all of that is what you know about the borrower. If you've got a forum name and a btc address and that's it then I'd be more worried than if I had a verified land line / address / name etc etc. Since a lot of btc is anonymous by nature (but doesn't have to be) then I think it changes things.
If a guy at my office wants to borrow $5 for lunch that's a hell of a lot less risky than someone that I don't know their name / location or anything else.
But this goes without saying, I'm sure everyone else is already thinking it so I don't know why I typed it.
The only problem here is very trivial amount of money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.
Exactly. Time is also really important, how hard is it to build trust over a few days, rip people off and do it again.
Still the most important thing to remember is don't invest anything you can't afford to lose.
Couple of points: "don't invest anything you can't afford to lose" - absolutely. I could, if worst came to worst, write off the 15 BTC.
Re: scalability: yes and no. In terms of loan-size, which I suspect you (Vladimir) are referring to, then yes - absolutely. In terms of "loan book size" (i.e. number of loans) then no: I think this could scale.
Re: trust: this is something that the PayPal -> BTC providers have had to consider, and I'd imagine that lessons they've learned would be applicable to BTC lending as well - things like start small, build up trust. Risk assessment would need to consider how well known a borrower was, how much was being borrowed, what the borrower felt they could reasonably repay (and whether the lender believed that!) etc.
The only problem here is very trivial amount of money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.
Exactly. Time is also really important, how hard is it to build trust over a few days, rip people off and do it again.
Still the most important thing to remember is don't invest anything you can't afford to lose.
The only problem here is very trivial amount of money at risk. Should the amount increase, so will increase temptation for a borrower to take money and run. This is not scalable.
ofc, however to get sch a loan you'd need OK reputation....
Huzzah! my idea is working! 
but personally I would not like to loan to someone who backs out of a deal, even with lender's consent
it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that
Definitely hasn't run off! I'll keep the details private, but will just note that I'm very happy with the way things are going and my trust levels are now well above zero.it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that
yea I know he's been very up front with me and honest... plus he agrees with me alot, that can't be bad
but personally I would not like to loan to someone who backs out of a deal, even with lender's consent
it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that
Definitely hasn't run off! I'll keep the details private, but will just note that I'm very happy with the way things are going and my trust levels are now well above zero. it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that
it doesnt help your reputation if you back out of a loan now 
It doesn't help it, sure, but I don't think reputation should be harmed, either - since the lender (me) is happy for early repayment without penalty. That said, reputation would probably be improved if JackRabiit stuck with the original loan :-)but personally I would not like to loan to someone who backs out of a deal, even with lender's consent
it is a good thing that he didnt accept the 0% loan and run off with 30 BTC in his pocket like he could have, you probably will pay you back seeing that
and about the question of how higher interest gives security...
It doesn't change the percentage of chance he pays back, but you get a better return for your RISK. ie: hypothetically, say there is a 25% risk of this being a fraud. now if he gives 3 BTC interest out of 15BTC, you lose 6BTC every 4 loans, now if it is 5 BTC out of 15BTC, you lose 0 BTC every 4 loans
Hehehhehhh
The way I see it a deals a deal.
The way I see it a deals a deal.
it doesnt help your reputation if you back out of a loan now
It doesn't help it, sure, but I don't think reputation should be harmed, either - since the lender (me) is happy for early repayment without penalty. That said, reputation would probably be improved if JackRabiit stuck with the original loan :-)
it doesnt help your reputation if you back out of a loan now
I have some coins lying around contributing to scarcity rather circulating in the economy. So if you want another 15BTC zero interest loan, let me know, with your repayment plan of course;
I will definitly send you a tell should i need a loan, Enjoy your day
You could, uh, borrow 15 BTC, and repay me... you'd swap a 33% loan for a 0% loan. Sucks for me, but it's in your best interest.
I'd have no problem with early repayment, by the way. If I was smart, I'd have thought about that before we did the deal, but I didn't!
You could always say the deal was for 20btc repayment but then he could always tell you to suck it.
Not like there's anything too hardcore going on here though, friendly little loan.
I have some coins lying around contributing to scarcity rather circulating in the economy. So if you want another 15BTC zero interest loan, let me know, with your repayment plan of course;
I will definitly send you a tell should i need a loan, Enjoy your day
You could, uh, borrow 15 BTC, and repay me... you'd swap a 33% loan for a 0% loan. Sucks for me, but it's in your best interest.
I'd have no problem with early repayment, by the way. If I was smart, I'd have thought about that before we did the deal, but I didn't!
I have some coins lying around contributing to scarcity rather circulating in the economy. So if you want another 15BTC zero interest loan, let me know, with your repayment plan of course;
I will definitly send you a tell should i need a loan, Enjoy your day
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