Loan request offering 650$ worth of collateral !!

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: lakzo on April 02, 2014, 07:59:25 AM

Quote from: smooth on April 02, 2014, 05:18:05 AM

Quote from: lakzo on April 01, 2014, 08:30:58 PM

That begs the question, if they really were worth $1 each, why doesn't he just flip them on an exchange?

That's false logic because selling an asset does not have the same economic effect as borrowing against it.

However, claiming the collateral is worth $1 when it is actually worth much less is a scam in any case.

I see your point, but assuming he is a scammer, there is no perceived economic effect on his end. It's a swap and run transaction.

True that

lakzo

member

Activity: 168

Merit: 10

Quote from: smooth on April 02, 2014, 05:18:05 AM

Quote from: lakzo on April 01, 2014, 08:30:58 PM

That begs the question, if they really were worth $1 each, why doesn't he just flip them on an exchange?

That's false logic because selling an asset does not have the same economic effect as borrowing against it.

However, claiming the collateral is worth $1 when it is actually worth much less is a scam in any case.

I see your point, but assuming he is a scammer, there is no perceived economic effect on his end. It's a swap and run transaction.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: lakzo on April 01, 2014, 08:30:58 PM

That begs the question, if they really were worth $1 each, why doesn't he just flip them on an exchange?

That's false logic because selling an asset does not have the same economic effect as borrowing against it.

However, claiming the collateral is worth $1 when it is actually worth much less is a scam in any case.

JohnWalkers

newbie

Activity: 14

Merit: 0

Quote from: Vod on April 01, 2014, 09:54:04 PM

Quote from: lakzo on April 01, 2014, 08:30:58 PM

Quote from: Vod on April 01, 2014, 08:01:40 PM

Quote from: austin on April 01, 2014, 07:43:25 PM

If you haven't already made a deal with Vod, I can possibly give you this loan. Which altcoin is it?

Be careful - he's posting in multiple threads at the same time for this.

He has $638 MachineCoin, which he claims are worth $1 each. That begs the question, if they really were worth $1 each, why doesn't he just flip them on an exchange? That's because they're not liquid at all. Perhaps the most obscure altcoin out there right now. The only place I found an exchange was some very sketchy bare-bones site that listed a MachineCoin (MAC) at .00000085, nowhere near the $1/MAC they were claiming.

tl;dr

Scam.

Thanks for the information. I've flagged his account in the hopes of no one falling for his scam.

You have the funniest avatar I've ever seen Cheesy

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: lakzo on April 01, 2014, 08:30:58 PM

Quote from: Vod on April 01, 2014, 08:01:40 PM

Quote from: austin on April 01, 2014, 07:43:25 PM

If you haven't already made a deal with Vod, I can possibly give you this loan. Which altcoin is it?

Be careful - he's posting in multiple threads at the same time for this.

He has $638 MachineCoin, which he claims are worth $1 each. That begs the question, if they really were worth $1 each, why doesn't he just flip them on an exchange? That's because they're not liquid at all. Perhaps the most obscure altcoin out there right now. The only place I found an exchange was some very sketchy bare-bones site that listed a MachineCoin (MAC) at .00000085, nowhere near the $1/MAC they were claiming.

tl;dr

Scam.

Thanks for the information. I've flagged his account in the hopes of no one falling for his scam.

lakzo

member

Activity: 168

Merit: 10

Quote from: Vod on April 01, 2014, 08:01:40 PM

Quote from: austin on April 01, 2014, 07:43:25 PM

If you haven't already made a deal with Vod, I can possibly give you this loan. Which altcoin is it?

Be careful - he's posting in multiple threads at the same time for this.

He has $638 MachineCoin, which he claims are worth $1 each. That begs the question, if they really were worth $1 each, why doesn't he just flip them on an exchange? That's because they're not liquid at all. Perhaps the most obscure altcoin out there right now. The only place I found an exchange was some very sketchy bare-bones site that listed a MachineCoin (MAC) at .00000085, nowhere near the $1/MAC they were claiming.

tl;dr

Scam.

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: austin on April 01, 2014, 07:43:25 PM

If you haven't already made a deal with Vod, I can possibly give you this loan. Which altcoin is it?

Be careful - he's posting in multiple threads at the same time for this.

austin

hero member

Activity: 584

Merit: 500

If you haven't already made a deal with Vod, I can possibly give you this loan. Which altcoin is it?

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: Dark.coder on April 01, 2014, 06:17:23 PM

I would like to get a loan of 0.5 to 1 BTC depending upon the rules and regulations of the forum as iam new and have no idea how they judge the eligibility criteria will repay in one month. I have 650$ worth altcoin as collateral which i bought as investment and i don't want to spent them. Please pm me if you can lend, of course i understand that iam new here and i don't have trust so for that i'll send first pm me if you are intrested. Please be kind enough to lend !! thanks .

What altcoins do you have as collateral? I would give you the loan for LTC collateral.

Dark.coder

newbie

Activity: 18

Merit: 0

I would like to get a loan of 0.5 to 1 BTC depending upon the rules and regulations of the forum as iam new and have no idea how they judge the eligibility criteria will repay in one month. I have 650$ worth altcoin as collateral which i bought as investment and i don't want to spent them. Please pm me if you can lend, of course i understand that iam new here and i don't have trust so for that i'll send first pm me if you are intrested. Please be kind enough to lend !! thanks .

Topic: Loan request offering 650$ worth of collateral !! (Read 622 times)