Loans too risky? - page 55. | Bitcointalksearch.org

ajun96

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Quote from: klf on August 29, 2016, 02:08:12 AM

Quote from: ajun96 on August 29, 2016, 01:38:02 AM

Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

I think the risk will always be there if you make an investment or trying to grow your bitcoin. example of borrowing money. there will always be a risk that they will not pay it. therefore you must be smart in selecting the right person who will give you a loan?

What kind of smartness is required to take the loan? I didn't understand the meaning of smartness in your post. Most of the lender will expect some % of profit in public. Otherwise, you may not get the loan and also you must provide a valid collateral to get a loan.

To give loans, if you lend money with proper collateral, then I don't see any issue in lending money. But don't collateral which you can't liquidate easily for cash.

I mean is that you must be smart in choosing the people who want to lend you money. You should view their profile data and their history. is it they still have a loan default or not. what I mean by smart in choosing borrowers. because not all borrowers are a good person ?

goinmerry

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Quote from: Yakamoto on August 29, 2016, 06:46:54 PM

Quote from: LegendaryMiner on August 29, 2016, 06:18:00 PM

Loans can pretty risky to take, in fact. Unless you really need it, I suggest that you never take a loan. It is valid to remember that the bank is not going to lend to much money without a good reason to do so.

A loan is something that is only ever risky whenever you're not sure if you're going to be able to pay it back, even over whatever term you have planned. Some of the notable examples of when you shouldn't take a loan are when you don't have a job or anything that you can use to keep paying the loan, and you have collateral that would seriously impact you if it was repossessed.

Loans aren't necessarily bad, and if they can make you some money then they might be a benefit, but just make sure you can pay them off.

Well it could be talked to how the payment will be. Specially when you are loaning for business purposes. We know we will use it as a capital so we cant pay the same amount right back. It could be weekly or monthly, depending on what you put on the contract.

Doamader

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Quote from: LegendaryMiner on August 29, 2016, 06:18:00 PM

Loans can pretty risky to take, in fact. Unless you really need it, I suggest that you never take a loan. It is valid to remember that the bank is not going to lend to much money without a good reason to do so.

Banks do lend money if you show them how much you earn soo they choose the ammount they will risk with you, the time you choose, but in the end requesting a loan without need it will cause just problems. At bitcoin world the most plataforms that allow anybody to request a loan as it is funded to withdraw it are supporting the scamers.

Yakamoto

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Quote from: LegendaryMiner on August 29, 2016, 06:18:00 PM

Loans can pretty risky to take, in fact. Unless you really need it, I suggest that you never take a loan. It is valid to remember that the bank is not going to lend to much money without a good reason to do so.

A loan is something that is only ever risky whenever you're not sure if you're going to be able to pay it back, even over whatever term you have planned. Some of the notable examples of when you shouldn't take a loan are when you don't have a job or anything that you can use to keep paying the loan, and you have collateral that would seriously impact you if it was repossessed.

Loans aren't necessarily bad, and if they can make you some money then they might be a benefit, but just make sure you can pay them off.

LegendaryMiner

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Loans can pretty risky to take, in fact. Unless you really need it, I suggest that you never take a loan. It is valid to remember that the bank is not going to lend to much money without a good reason to do so.

blackmachinegun

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Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

of course it will always be at risk. but certainly there is a strategy in which the risk would be smaller. You can ask for a guarantee that has a price greater than the money you lent. so when he did not repay their loans. you can easily recover it by selling the collateral

Positid

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Quote from: diodio5 on August 29, 2016, 07:45:18 AM

Quote from: traderbit on August 28, 2016, 10:53:21 PM

Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

You are doing correct. giving and taking loans is very risky.. but if you get a valid collateral at the time of giving the loan. your risk will be reduced so much. even if the person who took the loan won't pay back your money, you can sell the collateral at the 120% price of the loan amount and get your money back with 20% profit. that's what nowadays lenders doing..

yeah of course by minimizing the risk you could ask them to provide a guarantee that has a price of at least 120% more expensive than the money that you lent. if they do not provide assurance that more expensive. then I think do not lend to them because it will give a big risk

But what guarantee can they provide that we are sure they will pay their loans. In the online world it is hard to to lend money as you do not know the real information of the person you are trusting to borrow your money, it is still better to have a hard collateral that any bitcointalk account for loan.

diodio5

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Quote from: traderbit on August 28, 2016, 10:53:21 PM

Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

You are doing correct. giving and taking loans is very risky.. but if you get a valid collateral at the time of giving the loan. your risk will be reduced so much. even if the person who took the loan won't pay back your money, you can sell the collateral at the 120% price of the loan amount and get your money back with 20% profit. that's what nowadays lenders doing..

yeah of course by minimizing the risk you could ask them to provide a guarantee that has a price of at least 120% more expensive than the money that you lent. if they do not provide assurance that more expensive. then I think do not lend to them because it will give a big risk

goldcoinminer

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Quote from: klf on August 29, 2016, 02:08:12 AM

Quote from: ajun96 on August 29, 2016, 01:38:02 AM

Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

I think the risk will always be there if you make an investment or trying to grow your bitcoin. example of borrowing money. there will always be a risk that they will not pay it. therefore you must be smart in selecting the right person who will give you a loan?

What kind of smartness is required to take the loan? I didn't understand the meaning of smartness in your post. Most of the lender will expect some % of profit in public. Otherwise, you may not get the loan and also you must provide a valid collateral to get a loan.

To give loans, if you lend money with proper collateral, then I don't see any issue in lending money. But don't collateral which you can't liquidate easily for cash.

You will only use your smartness if you are a borrower who is planning to scam the lender. It is the lender who should be smart at all times because it is his money after all who are at risk, as a lender we are a profit oriented and we cannot allowed ourselves to lose even a single centavo.

klf

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Quote from: ajun96 on August 29, 2016, 01:38:02 AM

Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

I think the risk will always be there if you make an investment or trying to grow your bitcoin. example of borrowing money. there will always be a risk that they will not pay it. therefore you must be smart in selecting the right person who will give you a loan?

What kind of smartness is required to take the loan? I didn't understand the meaning of smartness in your post. Most of the lender will expect some % of profit in public. Otherwise, you may not get the loan and also you must provide a valid collateral to get a loan.

To give loans, if you lend money with proper collateral, then I don't see any issue in lending money. But don't collateral which you can't liquidate easily for cash.

ajun96

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Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

I think the risk will always be there if you make an investment or trying to grow your bitcoin. example of borrowing money. there will always be a risk that they will not pay it. therefore you must be smart in selecting the right person who will give you a loan?

boyptc

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Quote from: Zadicar on August 29, 2016, 12:20:12 AM

Quote from: ?? on ??

Quote from: traderbit on August 28, 2016, 10:53:21 PM

Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

You are doing correct. giving and taking loans is very risky.. but if you get a valid collateral at the time of giving the loan. your risk will be reduced so much. even if the person who took the loan won't pay back your money, you can sell the collateral at the 120% price of the loan amount and get your money back with 20% profit. that's what nowadays lenders doing..

Well we have the same point of view, I am not taking loans either. But if I am in need of money I just ask my friends or parents that I need money. Because if you are going to take a loan as the day goes the money you borrowed is getting higher and higher interest rate. And if you are not going to pay it immediately you are going to be in big debt.

Well, thats the thing which happens normally when we intend to make a loan to someone, interest rates would be the hindrance for us to borrow since we cant even assured to pay that in a short period of time especially when we are really experiencing scarcity on money. Its better to borrow first to your family or friends which i normally do when im in need of money, borrowing to lending firms would be the last resort if now one lend you.

So it is better if you not going to loan without any valid reason because you are just risking your trust to the lender. And if you have any problem when the time of payment comes then your reputation and trust for the lender will be on red mark. So, it is better just to loan if there is really in need for emergency.

Zadicar

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Quote from: ?? on ??

Quote from: traderbit on August 28, 2016, 10:53:21 PM

Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

You are doing correct. giving and taking loans is very risky.. but if you get a valid collateral at the time of giving the loan. your risk will be reduced so much. even if the person who took the loan won't pay back your money, you can sell the collateral at the 120% price of the loan amount and get your money back with 20% profit. that's what nowadays lenders doing..

Well we have the same point of view, I am not taking loans either. But if I am in need of money I just ask my friends or parents that I need money. Because if you are going to take a loan as the day goes the money you borrowed is getting higher and higher interest rate. And if you are not going to pay it immediately you are going to be in big debt.

Well, thats the thing which happens normally when we intend to make a loan to someone, interest rates would be the hindrance for us to borrow since we cant even assured to pay that in a short period of time especially when we are really experiencing scarcity on money. Its better to borrow first to your family or friends which i normally do when im in need of money, borrowing to lending firms would be the last resort if now one lend you.

traderbit

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Quote from: smelter552 on August 28, 2016, 06:56:57 PM

yeah it might be really risky thats why i never give any loans or take it

You are doing correct. giving and taking loans is very risky.. but if you get a valid collateral at the time of giving the loan. your risk will be reduced so much. even if the person who took the loan won't pay back your money, you can sell the collateral at the 120% price of the loan amount and get your money back with 20% profit. that's what nowadays lenders doing..

dunfida

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Quote from: Doamader on August 28, 2016, 06:54:17 PM

Quote from: manselr on August 28, 2016, 10:24:44 AM

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Quote from: 20kevin20 on August 27, 2016, 03:56:20 PM

Loaning a few million satoshis for a small profit.... You better just go ahead with your signature campaign and earn much more out of it with no risks involved.

Well in any type of loaning service that is going to be always risky at all. And it is going to be better if you are not going to have any debt from someone or loaning agency. Because we can't say that we are going to be able to pay our loans. Because that is why people are loaning just to pay again from their other debts.

The problem is in the bitcoin world at least in BTCJam, the people used to steal your money and run with it and never paying back, even the A+ qualified users, so that is why I never bothered with loans.

Btcjam since the begining had scammer inside, the bit rates were built into the begining for the most. There are some honest people there, but there is no sure they will repay you, thats why all similiar websites that allow people to get a loan and cashout without nothing to hold as colateral are a waste of time and money. I do like poloniex system as they dont allow anybody to take loans, and they cant cashout if the loan isnt paid.

Even how reputable the site is theres always a scammer for sure that they would just take a loan then ran away. As you said there are still honest person but dont get too overconfidence with that, when we are making loans to others we must be vigilant to the person to whom we would lend of our money and the most important thing is to asked for a strong collateral than surpasses the loan amount of its value.

smelter552

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yeah it might be really risky thats why i never give any loans or take it

Doamader

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Quote from: manselr on August 28, 2016, 10:24:44 AM

Quote from: ?? on ??

Quote from: 20kevin20 on August 27, 2016, 03:56:20 PM

Loaning a few million satoshis for a small profit.... You better just go ahead with your signature campaign and earn much more out of it with no risks involved.

Well in any type of loaning service that is going to be always risky at all. And it is going to be better if you are not going to have any debt from someone or loaning agency. Because we can't say that we are going to be able to pay our loans. Because that is why people are loaning just to pay again from their other debts.

The problem is in the bitcoin world at least in BTCJam, the people used to steal your money and run with it and never paying back, even the A+ qualified users, so that is why I never bothered with loans.

Btcjam since the begining had scammer inside, the bit rates were built into the begining for the most. There are some honest people there, but there is no sure they will repay you, thats why all similiar websites that allow people to get a loan and cashout without nothing to hold as colateral are a waste of time and money. I do like poloniex system as they dont allow anybody to take loans, and they cant cashout if the loan isnt paid.

BitcoinPC

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Quote from: katrimans on August 03, 2016, 05:14:52 AM

Quote from: Carmen_Sandiego on July 31, 2016, 11:08:26 PM

If the individual get this without having a stable income and good planning, the situation becomes very risky indeed.

Yes and I always prefer to see the reason of the loan being taken, if the person makes funny reasons like he is in hospitals then better don't even think of lending, and if he is taking for gambling then also avoid lending him. Sometimes ask for proofs based on reasons ( not ID proofs lol ).

Yes, such people who makes such reasons for loans do not have any intention of returning them back. You should avoid giving loans to those and even if you give demand a collateral which is higher on value that the loan amount itself. In this way you will be sure that even if the lender runs away with your BTC, you are save to sell the collateral and earn higher amount.

manselr

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Quote from: ?? on ??

Quote from: 20kevin20 on August 27, 2016, 03:56:20 PM

Loaning a few million satoshis for a small profit.... You better just go ahead with your signature campaign and earn much more out of it with no risks involved.

Well in any type of loaning service that is going to be always risky at all. And it is going to be better if you are not going to have any debt from someone or loaning agency. Because we can't say that we are going to be able to pay our loans. Because that is why people are loaning just to pay again from their other debts.

The problem is in the bitcoin world at least in BTCJam, the people used to steal your money and run with it and never paying back, even the A+ qualified users, so that is why I never bothered with loans.

20kevin20

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Loaning a few million satoshis for a small profit.... You better just go ahead with your signature campaign and earn much more out of it with no risks involved.

Topic: Loans too risky? - page 55. (Read 67101 times)