Loans too risky? - page 50. | Bitcointalksearch.org

phreaky

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Quote from: SFR10 on February 25, 2016, 01:36:08 AM

Well assuming what you just said, is true, of course giving out loans is risky. It's like you gamble with your money in order to get 1 or 2% on top of it either in short or long terms and with the tendency of losing your money in case the guy who got the loan, doesn't return it. You could by some mining equipment's and contribute to the network as well and see the long term profit if you could manage and balance everything well.

It depends on the situation that you are in because a loan does not have to be risky, if you know that you are going to be able to pay that loan back then there is no problem.
But you should no gamble with a loan because then you will get your self in to trouble.

Zadicar

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Quote from: goinmerry on September 11, 2016, 11:40:03 PM

Quote from: Maslate on September 11, 2016, 10:06:16 PM

Quote from: uname on September 11, 2016, 09:07:36 PM

Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

yeah make sure that you do not have other options to get the money. if I do not have any other options maybe you can try to think about the loan? yeah because interest could have been giving you a hard

Never borrow money if you just gonna be using it for leisure, you will be paying the interest expense and you will ruin your budgeting because you force to spend on things you cannot afford yet, you need to save to spend on your wants.

True. In my case, I would just borrow money if I really needed to pay a large capital to where I know I could get it back with some profits and the interest should also be payed. That way trust will be built to both loaner and borrower.

These kind of ways or scenarios is good when you intend to make a loan because you are sure that it would definitely give you money back and give you profits and even pay your loan without reaching the due date. It would be a good decision rather than making loans just to buy on useless things.

goinmerry

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Quote from: Maslate on September 11, 2016, 10:06:16 PM

Quote from: uname on September 11, 2016, 09:07:36 PM

Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

yeah make sure that you do not have other options to get the money. if I do not have any other options maybe you can try to think about the loan? yeah because interest could have been giving you a hard

Never borrow money if you just gonna be using it for leisure, you will be paying the interest expense and you will ruin your budgeting because you force to spend on things you cannot afford yet, you need to save to spend on your wants.

True. In my case, I would just borrow money if I really needed to pay a large capital to where I know I could get it back with some profits and the interest should also be payed. That way trust will be built to both loaner and borrower.

Maslate

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Quote from: uname on September 11, 2016, 09:07:36 PM

Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

yeah make sure that you do not have other options to get the money. if I do not have any other options maybe you can try to think about the loan? yeah because interest could have been giving you a hard

Never borrow money if you just gonna be using it for leisure, you will be paying the interest expense and you will ruin your budgeting because you force to spend on things you cannot afford yet, you need to save to spend on your wants.

uname

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Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

yeah make sure that you do not have other options to get the money. if I do not have any other options maybe you can try to think about the loan? yeah because interest could have been giving you a hard

20kevin20

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Quote from: michelle1845 on September 11, 2016, 07:17:21 PM

I think the loan will only make us lose, it is better to use bitcoin we have than to lend it to someone else. And it is also not hundred percent that bitcoin that you lent will be returned...

I was always afraid of these lendings, because I've seen too many scams around. It looks good for a small investment, but at the same time.. You never know when it happens.

michelle1845

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I think the loan will only make us lose, it is better to use bitcoin we have than to lend it to someone else. And it is also not hundred percent that bitcoin that you lent will be returned...

Superbitzz

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Quote from: Mersedes on September 10, 2016, 10:53:34 AM

Quote from: zachmartus on February 25, 2016, 12:13:28 AM

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

Dude you are lucky enough to risk their money is silly. To give credit, you need to have the assurance that you will be paying the loan with interest. And how are you going to do it.

yes that is a fact, returning loan with interest is very difficult, because it is not sure that either you can earn money or not but you must have to return the money in with interest,

jaysabi

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Quote from: Yakamoto on September 11, 2016, 01:55:26 AM

Quote from: lionheart78 on September 11, 2016, 01:18:32 AM

Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan. It is more difficult to get loan in bank since they are really checking you paying capability. Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

Yeah and those people are loan sharks; they know exactly what they're doing and they intend to get as much money out of people who are desperate enough to take their loan a possible. They exist in every country throughout the world and a lot of the time they're damn good at their job and getting their pay.

Taking a loan from a bank is typically just based on your job and ability to pay interest. If you can do all of that, then most of the time a bank will be open to give you even a small loan. Having a decent credit score is even better.

If someone is willing to pay the interest rate, that's the market rate for the loan. Nobody is forcing anyone to borrow money, and there is certainly no shortage of places to borrow from, so competition keeps the rates pretty fluid. If someone is paying a high interest rate, it's because the lender is taking on a big risk by lending money to them. Lending and baking are not charity businesses, nobody should expect them to take on a financial risk without the commensurate potential reward for doing so.

Aamir1

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Quote from: Carmen_Sandiego on September 11, 2016, 04:38:38 AM

Be cautious, because some people are selfish and greedy , once they get want they want. They will no longer bother to care, because they think taking advantage with someone will benefit them without thinking that they may hurt others.

A scammer never thinks about others if what they would feel or what they might face if he takes the money and run away but he would just do what he wants and will take the money he needs and go away without saying anything further.

Sweetbtc

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Quote from: ?? on ??

Quote from: dmarine on September 09, 2016, 11:47:17 PM

I believe that loans are always going to be risky, that's why they are called loans. Especially if you are seeking to lend out with a lot of interest , you are definitely going to be carrying a lot of risks on your shoulders. I suggest that you just hold the bitcoins for now , considering the possibility for future price increases.

That is why I am not taking loans even in real life because the salary that you are going to get is the one that you are going to pay for your debt plus with the interest with it. But if the advantage of taking loans is that if you are unable to buy a property or car, then you can just go to the nearest bank and have your loan but still that is going to put you in deep debt.

Yes that is the most big problem with getting loans. You dont have to pay the original amount but also interest on it. I have seen people taking additional loans just to cover the previous loans and thus falling deep and deep into the grave.

SANALIU

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loan is not risk because your not send out your bitcoin
but if you use collateral in your loan your must savety
your must use escrow in reputable and trusted

Zadicar

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Quote from: Yakamoto on September 11, 2016, 01:55:26 AM

Quote from: lionheart78 on September 11, 2016, 01:18:32 AM

Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan. It is more difficult to get loan in bank since they are really checking you paying capability. Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

Yeah and those people are loan sharks; they know exactly what they're doing and they intend to get as much money out of people who are desperate enough to take their loan a possible. They exist in every country throughout the world and a lot of the time they're damn good at their job and getting their pay.

Taking a loan from a bank is typically just based on your job and ability to pay interest. If you can do all of that, then most of the time a bank will be open to give you even a small loan. Having a decent credit score is even better.

I agree with you, there are really some individual or lending firms which do have high interest rates and thats reality because if someone would have no choice to borrow money for sure they would go to those lending firms or individual since bank loans are hard if you dont have enough to guarantee that you can pay.

X-ray

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Quote from: Carmen_Sandiego on September 11, 2016, 04:38:38 AM

Be cautious, because some people are selfish and greedy , once they get want they want. They will no longer bother to care, because they think taking advantage with someone will benefit them without thinking that they may hurt others.

that's why you need to require atleast a collateral that worth 120% of the loan that you given or even requiring an official government document would be also a good idea for preventing any inconvenience in the future so they can't just don't care or go after having the money

Carmen_Sandiego

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Be cautious, because some people are selfish and greedy , once they get want they want. They will no longer bother to care, because they think taking advantage with someone will benefit them without thinking that they may hurt others.

Yakamoto

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Quote from: lionheart78 on September 11, 2016, 01:18:32 AM

Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan. It is more difficult to get loan in bank since they are really checking you paying capability. Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

Yeah and those people are loan sharks; they know exactly what they're doing and they intend to get as much money out of people who are desperate enough to take their loan a possible. They exist in every country throughout the world and a lot of the time they're damn good at their job and getting their pay.

Taking a loan from a bank is typically just based on your job and ability to pay interest. If you can do all of that, then most of the time a bank will be open to give you even a small loan. Having a decent credit score is even better.

lionheart78

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Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

I think the bank will assess you on how much you can loan from that you will decide on how much you are going to loan. It is more difficult to get loan in bank since they are really checking you paying capability. Though others will easily give you a loan but the interest is too high, in my country there is some people who offer loan and add 20% interest for two months.

Mr.grin

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Quote from: dandroid on September 10, 2016, 11:40:33 PM

It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

correct. I myself do not agree if it had to borrow money, even in difficult circumstances. but if the state really does not endorse and only loan that can be done, then you have to take risks by thinking about how you can return the loan. would be very risky if you can not restore it, because it can make your reputation and your last name becomes corrupted

dandroid

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It depends on how much you are going to loan ass well and if you are able to pay it back . You should only take a loan if you have to buy something that you really need and if you are able to pay it back.

Maslate

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Quote from: bluechipinvestor on September 10, 2016, 04:49:22 PM

If you can get collateral, then it will protect you somehow. The problem with collateral is that now you have something, like an account, that you do not really want and have to sell to get your money back.

That would not protect you at all when that is not a hard collateral, most of the collateral online is just an account of your in bitcointalk and we know that is not valuable enough.

Topic: Loans too risky? - page 50. (Read 67086 times)