Loans too risky? - page 15. | Bitcointalksearch.org

BennyWalker

newbie

Activity: 14

Merit: 0

Quote from: zachmartus on February 24, 2016, 11:13:28 PM

I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?

Something I should have added my friend was doing something you guys call "mining" I am very knew to the bitcoin world even though I have had them for a long time. I bought these bitcoin from him because he needed to sell them, my financial advisor has told me that the longer I wait the more return I would get so I told him hold the account for 5 years and ill see where I am... So last July I had gotten my account back, did a bunch of research then found you guys. So I came here to post a few posts and for everyone skeptical this is the proof https://gyazo.com/ee99cef712e9b72f03a3e8e870c33624

Maaan, trolling is prohibited in that forum

Your financial advisor suggest you to make a purchase of 56 bucks and buy bitcoins in 2010? Good joke)
And where have you been in 2013 when btc hit $1000+? "Oh, I'm almost mollionaire, but let it go through.."

Nevertheless, if somehow this story is not fake, my congratulations to you)) Dont do lending business, it is so risky as everybody have already told you on previous pages))

aeternus

sr. member

Activity: 686

Merit: 250

Quote from: killerfrost on November 10, 2017, 06:32:00 AM

That is a mistake you make, almost any BTC loan will not be returned if the borrower does not have adequate collateral. Because Bitcoin is anonymous, you will not be able to sue or make that person pay for you, without any information about it, that will never happen. I have seen some new ICOs with mortgage lending and it is really developing

This is what makes lending in bitcoin so risky, you cannot lend without a collateral and most of the time if you look at the lending section of the forum some people want to use some icos coins as collateral that are likely to go back to zero, so most lenders only accept good coins as collateral but then that defeats the purpose for the borrower to ask a loan.

Naoko

hero member

Activity: 812

Merit: 1000

on the one hand it is dangerous, because you are driving yourself into a debt hole...on the other hand, you can realize your dreams here and now...depending on who has what priority

mikaeltomcruz12

full member

Activity: 556

Merit: 100

Maybe because some will take the opportunity have the loan and after that no payments in return and other will take the risk, other has no other source of income but they don't know how to handle there credits.

Maslate

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Message @Hhampuz if you are looking for a CM!

Quote from: cydrix on November 14, 2017, 07:47:33 PM

Your only job is to prevent or lower the risk involved or else youll be scammed thats a common sense to everyone. Why would it be risky if you both have the agreements or the terms on your loans or lends. And of course you have to picky by it just pick the reputable ones and dont be fooled by full members below.

It's not by rank actually, even if you both have an agreement prior to the transaction, the risk is still on the lender since
there is not precious collateral that would force a borrower to pay his debt.
We are only doing our business based on trust, so if we trust a member we lend money to him/her but there is no assurance that the loan will be repaid.

Visbay

sr. member

Activity: 1236

Merit: 252

Quote from: mirakal on November 13, 2017, 04:23:11 AM

Quote from: mifanmuzny on November 13, 2017, 03:59:19 AM

Do you know what bitcoin is its a threat to the banking system. If you take a loan from a bank those bastards will get richer u pay monthly interest and fall into a pit of slavery. That is where bitcoin steps in and takeover so accumulate much as possible BTC hodlers are the future billionaires.

There is no relevant comparison on bank loans to bitcoin because bitcoin is just a system while bank offers different services.
Before we take a loan we sign a contract with all the information where we also agreed, so I don't think there is a problem with that, the bank are operating for a profit so they have to ensure they are profitable to continue their business.

Yes its true if you get loan from any bank so first of all you must have a good source of income in order you ca return this amount but if any problem come in your income so then you can be in trouble so I think if you are using bitcoin so then you don’t need any loan from any bank because bitcoin can make you rich in a short time.

cydrix

full member

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Your only job is to prevent or lower the risk involved or else youll be scammed thats a common sense to everyone. Why would it be risky if you both have the agreements or the terms on your loans or lends. And of course you have to picky by it just pick the reputable ones and dont be fooled by full members below.

Kuchiyose

full member

Activity: 686

Merit: 100

This will have a high risk due to the pressure of each borrowing bill. Think ripe Wink

Zooplus

legendary

Activity: 1106

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Quote from: ?? on ??

Loans really can be very risky, however if you simply know that you can to repay it then it ought to be no problem whatsoever. Consider only a mortgage when you need something that is important and if you're able to repay it.

You have to pay if you want to maintain your good reputation while on the part of the lender, you need to ensure
that the borrower has the capacity to pay because the risk is on you, you cannot run after your borrower when you are lending online.

megynacuna

sr. member

Activity: 756

Merit: 253

Quote from: d1ceplayer on November 13, 2017, 03:41:48 AM

Quote from: freedomgo on November 07, 2017, 12:00:58 AM

Quote from: ?? on ??

I additionally believe that going for a loan is pretty dangerous but it completely depends on the situation. If you have a great work and you're loaning money to buy a home and also you you can now repay it it's not an issue. Loaning cash with no money will enable you to get directly into trouble.

If you have the willingness to pay there is no risk on you because your reputation will not become bad, however if we really think outside
the box, the real risk is on the lender because the probability of return is very low especially if you are lending online which you cannot fully investigate your borrower.

There is no point of denying this fact that taking loan from anyone is very much risky if you don’t have any solid plan in your mind to make out maximum profit out of that money which you have taken in the form of loan. If you really think that you actually can make the best possible use of that money and it will help you in earning of more money, then there is no harm in going for loan.

Of course it makes no sense in taking loans if you don't have any clear cut plans to service those loans because you might end up enslaving yourself or in an unpleasant situation and so we borrow to work and pay back and for nothing else.

mirakal

legendary

Activity: 3108

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Leading Crypto Sports Betting & Casino Platform

Quote from: mifanmuzny on November 13, 2017, 03:59:19 AM

Do you know what bitcoin is its a threat to the banking system. If you take a loan from a bank those bastards will get richer u pay monthly interest and fall into a pit of slavery. That is where bitcoin steps in and takeover so accumulate much as possible BTC hodlers are the future billionaires.

There is no relevant comparison on bank loans to bitcoin because bitcoin is just a system while bank offers different services.
Before we take a loan we sign a contract with all the information where we also agreed, so I don't think there is a problem with that, the bank are operating for a profit so they have to ensure they are profitable to continue their business.

mifanmuzny

member

Activity: 294

Merit: 16

Do you know what bitcoin is its a threat to the banking system. If you take a loan from a bank those bastards will get richer u pay monthly interest and fall into a pit of slavery. That is where bitcoin steps in and takeover so accumulate much as possible BTC hodlers are the future billionaires.

d1ceplayer

sr. member

Activity: 686

Merit: 277

Quote from: freedomgo on November 07, 2017, 12:00:58 AM

Quote from: ?? on ??

I additionally believe that going for a loan is pretty dangerous but it completely depends on the situation. If you have a great work and you're loaning money to buy a home and also you you can now repay it it's not an issue. Loaning cash with no money will enable you to get directly into trouble.

If you have the willingness to pay there is no risk on you because your reputation will not become bad, however if we really think outside
the box, the real risk is on the lender because the probability of return is very low especially if you are lending online which you cannot fully investigate your borrower.

There is no point of denying this fact that taking loan from anyone is very much risky if you don’t have any solid plan in your mind to make out maximum profit out of that money which you have taken in the form of loan. If you really think that you actually can make the best possible use of that money and it will help you in earning of more money, then there is no harm in going for loan.

Whitly

sr. member

Activity: 668

Merit: 255

Well, if it's still relevance, you should think about limits like how much you would like to give as min loan and how much as max, since we talking about btc loans, you should understand that's it's most risky way of giving loans , because you see absolutely nothing except wallet, here 2 ways of how make in more safety. So first , you can start giving loans and ask for collateral (120% of amount ) to be able to sell this collatelar if there will be problems or ask to prove confirm the identity. Also you should think about place where you planning to give loans , if it's will this forum , then you should read this : https://bitcointalksearch.org/topic/edu-the-rule-of-no-collateral-no-loan-ignore-at-your-own-risk-577765

Visbay

sr. member

Activity: 1236

Merit: 252

Quote from: starblocks on November 09, 2017, 09:32:07 PM

800 BTC is a lot if that's true LOL

You could get up to 10% from P2P lending perhaps a little more and relatively risk free but then you could also just earn decent interest staking a worthwhile altcoin or investing it in a managed fund

Yes it’s true that loan are too risky for a common man when you are doing a job and unfortunately you left your job so then it’s very hard to return your loan and I believe when some is using bitcoin so I don’t think so he need any loan from anywhere because bitcoin price is high and you can earn from here easily so be a part of bitcoin.

ElizaZX

full member

Activity: 378

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I did not understand much. Did you buy 800 bitcoins in 2010 and brag about it before the forum, or do you want to find a potential buyer? if so, then you are at the end of the trade.

Zabrielle

full member

Activity: 294

Merit: 105

Now a days people turn to loans. Most of the people has loan. It is risky specially for big interest. In the long run this will be a very big problem because you might not be able to cope up with the interest. Before you do a loan you have to think twice and consider posibilities.

Hatuferu

legendary

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https://trueflip.io/

Quote from: daisyslickwerks on November 10, 2017, 04:11:26 PM

BTCJam was a frustration since it would be a constant grab of yoru money as borrowers ran with the money and absolutely nothing happened. Im not sure about how exactly Poloniex mortgage system works and when its safer. I must enter into it and start getting good cash type b BTC.

I guess it's safer to lend money using the poloniex platform, I also don't know how exactly it is running but I know until now there are
still people who are lending their bitcoin, that means they are profitable.

daisyslickwerks

newbie

Activity: 1

Merit: 0

BTCJam was a frustration since it would be a constant grab of yoru money as borrowers ran with the money and absolutely nothing happened. Im not sure about how exactly Poloniex mortgage system works and when its safer. I must enter into it and start getting good cash type b BTC.

knckledrgger

newbie

Activity: 2

Merit: 0

Actually financial loans isn't necessarily that dangerous. I mean, you also get the security as well. But, make sure to get good security and same as the cash that you simply give loan.

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