Giving loans out | Bitcointalksearch.org

PatrickHarnett

hero member

Activity: 518

Merit: 500

Quote from: mmbregman on January 28, 2012, 10:46:44 AM

Quote from: papa_snurf on January 28, 2012, 04:56:08 AM

Quote from: mmbregman on January 22, 2012, 08:20:02 AM

Is there anyone willing to give me a loan of 3 BTC with a small fee? Even though I'm a noobiew?

Why would anyone lend money to people they don't know on the internet is beyond me. And frankly, I can get better rates from Tony Soprano.

Actually, PatrickHarnett gave me a loan of 3 BTC with 5% for something like 2 weeks.
Some people are willing to trust eventhough they don't know me.
The reason he trusted me is also beyond me, but I'm very thankful for that and I'm going to return him the coins (not that I wasn't going to do that).

Loan repaid - many thanks.

Patrick

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

I am wondering if anyone ever did borrow BTC from gurg2.o?

He borrowed a lot of BTC from several people and is now late paying them back. So, if he lent you any BTC his creditors would like to know about it.

Please contact me if you borrowed any BTC from gurg2.0.

Thanks!

PatrickHarnett

hero member

Activity: 518

Merit: 500

Quote from: mmbregman on January 28, 2012, 10:46:44 AM

Quote from: papa_snurf on January 28, 2012, 04:56:08 AM

Quote from: mmbregman on January 22, 2012, 08:20:02 AM

Is there anyone willing to give me a loan of 3 BTC with a small fee? Even though I'm a noobiew?

Why would anyone lend money to people they don't know on the internet is beyond me. And frankly, I can get better rates from Tony Soprano.

Actually, PatrickHarnett gave me a loan of 3 BTC with 5% for something like 2 weeks.
Some people are willing to trust eventhough they don't know me.
The reason he trusted me is also beyond me, but I'm very thankful for that and I'm going to return him the coins (not that I wasn't going to do that).

Tony Soprano might collect your fingers, or you could fall off a building"accidentally".
I'm not an idiot (my avatar might be, and I'm not that fond of smurfs - too many bones).
3 coins is small for me, and might be large for mmbrefman, but the benefit to him in paying back and getting rep is valuable. They could just sit on the loan for a week and repay (not needing it at all) and that would work.

Patrick

mmbregman

newbie

Activity: 21

Merit: 0

Quote from: papa_snurf on January 28, 2012, 04:56:08 AM

Quote from: mmbregman on January 22, 2012, 08:20:02 AM

Is there anyone willing to give me a loan of 3 BTC with a small fee? Even though I'm a noobiew?

Why would anyone lend money to people they don't know on the internet is beyond me. And frankly, I can get better rates from Tony Soprano.

Actually, PatrickHarnett gave me a loan of 3 BTC with 5% for something like 2 weeks.
Some people are willing to trust eventhough they don't know me.
The reason he trusted me is also beyond me, but I'm very thankful for that and I'm going to return him the coins (not that I wasn't going to do that).

Kettenmonster

sr. member

Activity: 420

Merit: 250

bool eval(bool b){return b ? b==true : b==false;}

Quote from: andresbtc on January 25, 2012, 02:46:43 PM

What percentage of the loans are defaulted?

None, as those things are always negotiated. If not you can safely call it fraud.

reg

sr. member

Activity: 463

Merit: 250

IBB do interest free loans for newbies. 2 BTC for 8 days- I have used them three times and been ok. not a newbie anymore but could now borrow more over longer period based on my reputation- recommended. reg.

papa_snurf

newbie

Activity: 48

Merit: 0

Quote from: danishpride on January 26, 2012, 04:23:18 AM

It's very easy to setup proper Bitcoin loans, just use same way those pay day loans work, take ID, have the persons contact details and do it all properly.

Pay a notary to make it official, and pay a lawyer to enforce your claim in a court of law (assuming a 60-year old judge will not dismiss the claim on the spot).

And all of this for 200btc...

papa_snurf

newbie

Activity: 48

Merit: 0

Quote from: mmbregman on January 22, 2012, 08:20:02 AM

Is there anyone willing to give me a loan of 3 BTC with a small fee? Even though I'm a noobiew?

Why would anyone lend money to people they don't know on the internet is beyond me. And frankly, I can get better rates from Tony Soprano.

danishpride

newbie

Activity: 14

Merit: 0

LOL - NO

Inbox If you want a loan.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: danishpride on January 26, 2012, 04:23:18 AM

It's very easy to setup proper Bitcoin loans, just use same way those pay day loans work, take ID, have the persons contact details and do it all properly.

I will do loans of upto 200 BTC per person.

13% of amount loaned for no more than 14 days, so you borrow 100 BTC say 1st Jan and Pay Back 113 BTC on the 14th Jan.

Very easy. ID required and as I say works same process like payday loans, you don't see them giving out loans without ID etc.

Inbox If you want a loan.

Uhhh.... So you'll give me 200BTC if I just scan a copy of ID you have no way of verifying?

danishpride

newbie

Activity: 14

Merit: 0

It's very easy to setup proper Bitcoin loans, just use same way those pay day loans work, take ID, have the persons contact details and do it all properly.

I will do loans of upto 200 BTC per person.

13% of amount loaned for no more than 14 days, so you borrow 100 BTC say 1st Jan and Pay Back 113 BTC on the 14th Jan.

Very easy. ID required and as I say works same process like payday loans, you don't see them giving out loans without ID etc.

Inbox If you want a loan.

PatrickHarnett

hero member

Activity: 518

Merit: 500

Quote from: andresbtc on January 25, 2012, 02:46:43 PM

What percentage of the loans are defaulted?

We're still building that information. At the moment I'm running 10%.

andresbtc

newbie

Activity: 12

Merit: 0

What percentage of the loans are defaulted?

packman

newbie

Activity: 26

Merit: 0

I just got called by somebody telling me to stay off the bitcoin forums and that I was banned, so I am removing my number from this website.

is4tomj

newbie

Activity: 48

Merit: 0

gurg2.o,

If you go forward this idea, you will need to figure out how to establish a secured transaction. A properly perfected secured transaction requires 1) attachment of the collateral; 2) perfection, so that other creditors, or buyers, are put on notice that the collateral has an effective lien; and 3) establish priority over other creditors.

Secured transactions make it possible for banks to give cheaper loans at lower rates. However, even with the best auditing processes some bowers will still default, and a secured transactions make it much cheaper for a creditor to get the money lent back.

In this case it seems very unlikely that you would be able effectively create an enforceable secured transaction by merely lending to those with a prominent presence on a forum. This strategy is ridiculously risky and you will most likely loose all your bitcoins very quickly.

JohnnyCash

newbie

Activity: 14

Merit: 0

Maybe you should instead of giving loans act as an investor in ventures.

Person X says "I need 100 bitcoins for this business transaction, I expect Y profit and will give you Z percent of the profits." Then you can either accept Z or haggle a higher price.

gurg2.o

newbie

Activity: 42

Merit: 0

Sorry no

mmbregman

newbie

Activity: 21

Merit: 0

Is there anyone willing to give me a loan of 3 BTC with a small fee? Even though I'm a noobiew?

PatrickHarnett

hero member

Activity: 518

Merit: 500

Best paying deposit rate is Priateat40, but let's say that is top of the range (30% month payout)

INAU (Ineedausername) is doing some loans higher than this, but smaller/shorter = 45%/month. If you need it, it's there as a service.

I have loaned to INAU at 15%/month and have other loans of varying rates 10% to 15%. A few short-term ones are higher.

Kludge is doing 10%/month.

notme is starting a savings/deposit system paying 1%/week, say 4%/month.

Within that range, the "market" is probably somewhere in the 10-15%/month range, but it depends on reputation, purpose etc.

Costia

newbie

Activity: 28

Merit: 0

you could lower the rate and add a constant fee. like 3%+5BTC /week

Topic: Giving loans out (Read 2450 times)