Loans too risky? - page 26. | Bitcointalksearch.org

iMark

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Quote from: szpalata on July 09, 2017, 01:12:19 AM

Quote from: bitKaBoom on July 08, 2017, 10:11:39 AM

I wouldn't suggest you take money from people you don't know. Such companies are really scary for us, I must say!

Loans in general are risky and it doesn't really matter where you're sourcing them from, what matters is that you must have a plan to pay back either than just taking them because you will be give or you're credit worthy. Many takes loans without a purpose and that is risky because it can land you in unplanned indebtedness.

Then the lender will usually ask you the question of what the money is, and how you will pay the money. Of course this is to ensure that you give loans to the right people. But it is very likely they will lie, so every loan guarantee from the loan lover will be very important here

NavySeals

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Quote from: BeGoods on July 09, 2017, 06:20:18 PM

Quote from: Dr.Osh on July 08, 2017, 08:43:26 AM

If you believe in someone, it might look good to lend you money, but it might look risky lending money to people you do not really know, because it's going to be very difficult to get back. Well, even to people you know, they are very difficult to return the money you lend.

Lending to someone you do not know would be very risky. Therefore if you want to get into the lending business you have to have rules for lending your place. Such as collateral that must exist, with it then the risks would be smaller.

That's why I never recommend people to make lending for someone. In poloniex, there is lending option, but I still don't trust anyone. Our money could be lost while we try to earn a small amount of bitcoin.

Giving lending in forum is totally crazy. I don't even mention about it.

BeGoods

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Quote from: Dr.Osh on July 08, 2017, 08:43:26 AM

If you believe in someone, it might look good to lend you money, but it might look risky lending money to people you do not really know, because it's going to be very difficult to get back. Well, even to people you know, they are very difficult to return the money you lend.

Lending to someone you do not know would be very risky. Therefore if you want to get into the lending business you have to have rules for lending your place. Such as collateral that must exist, with it then the risks would be smaller.

batang_bitcoin

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Quote from: wonderloops on July 09, 2017, 08:27:46 AM

Yes, loaning would be risky when you have such a big amount. 800 BTC, Oh my god you are richest person, but to become more richer either you should start making profit by selling now when the price is stagnated and purchase when it comes down.

Thats totally a lot of bitcoins to ask for the borrower. If I'm the lender its going to be a hard time of decision and you wont make a deal that is going to make you unfavored. With this big amount there should be some collateral thats higher with the asking amount of the borrwer. This is very risky for the lender.

stompix

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Quote from: iluvpie60 on July 09, 2017, 11:17:16 AM

I think almost everyone looking for a loan is a scammer. There is almost no reason to want a loan, especially for a week. They are just gambling with it for the most part. If they can repay a loan in a week they didn't need that loan to begin with. If it is for a month I can kinda understand that because maybe you have bills to pay now or something I dunno.

The thing I never understand is how someone can put into escrow altcoins and ask for a loan of BTC. Sell the altcoins and do what you need to do, why take out a loan of BTC and put up the same worth of altcoins as collateral, makes no sense.

There was one newbie (the account was new, probably the owner had been around here for longer) that was inquiring on how to make money out of loans, if possible.

His idea was to get a loan in BTC, deposit the altcoins and if the markets swing in one direction either repay the loan or default.
Sounds pretty stupid to me but this forum never cease to amaze me with the ideas people bring in.

Potato Chips

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Quote from: iluvpie60 on July 09, 2017, 11:17:16 AM

I think almost everyone looking for a loan is a scammer. There is almost no reason to want a loan, especially for a week. They are just gambling with it for the most part. If they can repay a loan in a week they didn't need that loan to begin with. If it is for a month I can kinda understand that because maybe you have bills to pay now or something I dunno.

The thing I never understand is how someone can put into escrow altcoins and ask for a loan of BTC. Sell the altcoins and do what you need to do, why take out a loan of BTC and put up the same worth of altcoins as collateral, makes no sense.

you're right, most of them are scammers-- come see what people are posting on the lending section thats why most people who give out loan there knows who to entertain and who to decline. we have long term loans here but it typically involves larger amount of bitcoin and most loaners stick to short term which has a maximum of 30 days mostly because that way they'll have more profit-- look at their interest rate.

i think its because they believe in that certain altcoin-- i mean if you just sell it, you can't get it back so if that altcoin boost up you'll regret it particularly if you have bought it on a much lower price. on the other hand if you just make it as a collateral you can get it back. well you should only loan if you're sure you will be receiving money before the due date.

iluvpie60

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I think almost everyone looking for a loan is a scammer. There is almost no reason to want a loan, especially for a week. They are just gambling with it for the most part. If they can repay a loan in a week they didn't need that loan to begin with. If it is for a month I can kinda understand that because maybe you have bills to pay now or something I dunno.

The thing I never understand is how someone can put into escrow altcoins and ask for a loan of BTC. Sell the altcoins and do what you need to do, why take out a loan of BTC and put up the same worth of altcoins as collateral, makes no sense.

Pattart

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Quote from: Dr.Osh on July 08, 2017, 08:43:26 AM

If you believe in someone, it might look good to lend you money, but it might look risky lending money to people you do not really know, because it's going to be very difficult to get back. Well, even to people you know, they are very difficult to return the money you lend.

Even if the person you trust then you give the loan is still at risk Very likely they will not pay even trick you. It happens often in this world, let alone people you do not know on the internet then the risk will be very high. If you want to lend to someone make sure you ask for a guarantee that has a higher price

wonderloops

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Yes, loaning would be risky when you have such a big amount. 800 BTC, Oh my god you are richest person, but to become more richer either you should start making profit by selling now when the price is stagnated and purchase when it comes down.

tomotan

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Quote from: Palmerson on July 09, 2017, 06:21:32 AM

Quote from: tomotan on July 09, 2017, 05:31:15 AM

Of course it is too risky...bitcointalk has become a pure scamming site...it is a shame in my opinion! I wouldn't recommend doing unsafe business here.

It is not a shame. This is our life. The cost of democracy. Any forum is a reflection of our life in which there are good people and crooks. Nobody is going to explain who is who so you should be able to understand the people themselves.

Can't argue with that,but it is easier for me to assume everybody is a potential scammer here!!!

stompix

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Blackjack.fun

Quote from: Palmerson on July 09, 2017, 06:21:32 AM

Quote from: tomotan on July 09, 2017, 05:31:15 AM

Of course it is too risky...bitcointalk has become a pure scamming site...it is a shame in my opinion! I wouldn't recommend doing unsafe business here.

It is not a shame. This is our life. The cost of democracy. Any forum is a reflection of our life in which there are good people and crooks. Nobody is going to explain who is who so you should be able to understand the people themselves.

What has democracy to do with people not paying back their debts?
Crooks are crooks no matter if they live in a democracy or they live in communism.

Are you willing to take a bet that there are no scammers here from countries under dictatorship or communist rule?
More than half of the mining power is supposed to be in a country where democracy means shift.

Palmerson

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Quote from: tomotan on July 09, 2017, 05:31:15 AM

Of course it is too risky...bitcointalk has become a pure scamming site...it is a shame in my opinion! I wouldn't recommend doing unsafe business here.

It is not a shame. This is our life. The cost of democracy. Any forum is a reflection of our life in which there are good people and crooks. Nobody is going to explain who is who so you should be able to understand the people themselves.

tomotan

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Of course it is too risky...bitcointalk has become a pure scamming site...it is a shame in my opinion! I wouldn't recommend doing unsafe business here.

vok-wok_hok

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For me, loans are too risky a way of income, because I'm not good at this. In order to earn in this direction it is necessary to collect knowledge, but investment seems to me easier and safer.

Kasabus

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Quote from: szpalata on July 09, 2017, 01:12:19 AM

Quote from: bitKaBoom on July 08, 2017, 10:11:39 AM

I wouldn't suggest you take money from people you don't know. Such companies are really scary for us, I must say!

Loans in general are risky and it doesn't really matter where you're sourcing them from, what matters is that you must have a plan to pay back either than just taking them because you will be give or you're credit worthy. Many takes loans without a purpose and that is risky because it can land you in unplanned indebtedness.

As a lender you need to ensure that the amount you lend must be collected, which means the risk is on you as a borrower
may failed to pay either intentional or not. When lending you need to require a collateral which is very hard to be done when lending online.

ss890

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Quote from: NUFCrichard on February 25, 2016, 02:44:32 AM

Quote from: 7788bitcoin on February 25, 2016, 12:36:38 AM

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?

So your 800 BTC only cost about $56. If I were you I would even bother to think of way to loan it just to obtain little interest like 2-4% per year- the risk is too high. Convert half into cash and hodl the other half. Use the cash for a holiday or just keep the cash in the bank for the tiny interest (hopefully it is not negative interest in your country).

Use half of his bitcoin for a holiday? Half would be $170k, as he has a total of $340k in bitcoin.
I too strongly doubt that this is a serious question, but if you want to loan, you need to be picky, ask for collateral and be prepared to lose sometimes.

Also, unless you are seriously wealthy, I would suggest diversifying, rather than increasing your holdings! Real estate and PMs would seem a good idea for someone with so much in Crypto.

Congratulations on buying and holding for so long, if what you posted is actually true. I would guess that most who bought at sub $1, also sold at sub$10.

Instead of all this mess why don't just hold these bitcoins for even longer period and earn the royalty for the future. I don't see any good deal by loaning this much if bitcoin. Rather keeping would,d same and even profitable than loaning it out. Who knows who will return you your money and do you even have time to go behind them if they don't return the money. What collateral security you can get from them for online stakes? Must think before taking thr decision.

szpalata

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Quote from: bitKaBoom on July 08, 2017, 10:11:39 AM

I wouldn't suggest you take money from people you don't know. Such companies are really scary for us, I must say!

Loans in general are risky and it doesn't really matter where you're sourcing them from, what matters is that you must have a plan to pay back either than just taking them because you will be give or you're credit worthy. Many takes loans without a purpose and that is risky because it can land you in unplanned indebtedness.

Ctn

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Never thought if it and never searched about tit anywhere. But logically it seems to be impossible to work with bitcoin or virtually currencies to give away loans. Giving away money to virtual people you don’t know without any solid proofs seems to me unimaginable. I wouldn’t go for this.

bitKaBoom

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I wouldn't suggest you take money from people you don't know. Such companies are really scary for us, I must say!

Dr.Osh

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If you believe in someone, it might look good to lend you money, but it might look risky lending money to people you do not really know, because it's going to be very difficult to get back. Well, even to people you know, they are very difficult to return the money you lend.

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