Topic: Loans too risky? - page 68. (Read 67086 times)
loaning is always risky because it is anonymous. You really don't know who to trust. The best thing to do is get some kind of collateral in case the borrower defaults on the loan, at least you get something to help cover your loss.
...
With the price of Bitcoin going up so fast, there is additional risk for the creditor! What if the borrower cannot make money fast enough to keep up with the increase of BTC's price?
At $710 (or so last I checked), BTC is up some 40% in just a week or so. I would never loan (nor borrow) any asset like that in this kind of environment. Default risk is just too high.
With the price of Bitcoin going up so fast, there is additional risk for the creditor! What if the borrower cannot make money fast enough to keep up with the increase of BTC's price?
At $710 (or so last I checked), BTC is up some 40% in just a week or so. I would never loan (nor borrow) any asset like that in this kind of environment. Default risk is just too high.
Bitcoin Loans are too risky, there are too many scammers online and you may be a victim. At this moment what you need to do is either to hoard your bitcoins and wait until price increase tremendously or invest in mining like hashocean and genesis mining. hope this helps.
Bitcoin loans are too risky and also with the fiat loans, but btc loan is much riskier because of the circumstances indicated in the quoted message.
And when it comes for the collection it is really one of the hardest way of getting their payment.
Because in payment people tend just to run away.
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
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
Bitcoin Loans are too risky, there are too many scammers online and you may be a victim. At this moment what you need to do is either to hoard your bitcoins and wait until price increase tremendously or invest in mining like hashocean and genesis mining. hope this helps.
If you already had 800 BTC, I suggest you stay out of this loaning thing cause you can lose it. I suggest that you do some trading, get 1 BTC out of it, buy altcoins, then sell when it gets high just do some research first before buying.
And yeah, if you already had 800 btc you don't have to lend it to the people because it is very risky even you have a lot of it, 1 btc is only nothing for you. But if you are that conscious with your money. Better to hold it, just like the bitcoin millionaires do, they are just holding it and not getting into loaning service.
Well up to a person if it's still going to make a loan.
There are loans that can be sorted out to different people if you like to do so e.g "I know you for a long time" , "I know you can pay" or something like that. If that's is the case then a person can give outs loan.
I would prefer to loan that way also. Like friends here who have been there for you. No risk in giving them loan and so what if they run I also benefit from their help and more.
Well that's a better way of lending your money to your friends. As long as you know the people that borrows your money then you have assurance on how you are going to collect the money they borrowed.
If you already had 800 BTC, I suggest you stay out of this loaning thing cause you can lose it. I suggest that you do some trading, get 1 BTC out of it, buy altcoins, then sell when it gets high just do some research first before buying.
And yeah, if you already had 800 btc you don't have to lend it to the people because it is very risky even you have a lot of it, 1 btc is only nothing for you. But if you are that conscious with your money. Better to hold it, just like the bitcoin millionaires do, they are just holding it and not getting into loaning service.
Well up to a person if it's still going to make a loan.
There are loans that can be sorted out to different people if you like to do so e.g "I know you for a long time" , "I know you can pay" or something like that. If that's is the case then a person can give outs loan.
I would prefer to loan that way also. Like friends here who have been there for you. No risk in giving them loan and so what if they run I also benefit from their help and more.
This past 5 days is a perfect example of not taking a loan nowadays.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
Haha yeah that puts risk on the person loaning the money and especially on the person taking the loan. Having to pay that much more if they weren't expecting their profit or w/e in Bitcoin they have a huge chance to default. If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
If you already had 800 BTC, I suggest you stay out of this loaning thing cause you can lose it. I suggest that you do some trading, get 1 BTC out of it, buy altcoins, then sell when it gets high just do some research first before buying.
yeah like that you know that if you have a lot of capital then you can do any business in bitcoin. including borrowing or trade. it depends on you. both are equally at risk. both can grow bitcoinmu. it depends on you want to choose which ?Banks will be encouraged to lend more to their weakest borrowers and take on excessive risks if global regulators push ahead with a rule change aimed at making it harder to cheat on safety measures, a leading industry group has warned.
Yes of course. Start giving loan can be a pain in your ass in this moment as the holding of your bitcoins can be more profitable than start lending or investing in any other services when considering the risks involved with them IMHO. If you already had 800 BTC, I suggest you stay out of this loaning thing cause you can lose it. I suggest that you do some trading, get 1 BTC out of it, buy altcoins, then sell when it gets high just do some research first before buying.
And yeah, if you already had 800 btc you don't have to lend it to the people because it is very risky even you have a lot of it, 1 btc is only nothing for you. But if you are that conscious with your money. Better to hold it, just like the bitcoin millionaires do, they are just holding it and not getting into loaning service.
This past 5 days is a perfect example of not taking a loan nowadays.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
Thats the sad reality of lending. Its happening now,Its $684.00 now in preeve and it seems it will continue to rise as we approach halving period. Lenders are happy now, hope they are compassionate to those having a higher loan, who are grappling to pay.
I agree because lender take more the risk and very high chance for them to lose money because some other user here even they are high ranks are defaulted to their loans, and also even if they had collaterals a chance for them also to lose their money,
Thats why i dont really want people loan to me since i dont know them personally even if they give me a collateral.
This past 5 days is a perfect example of not taking a loan nowadays.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
Thats the sad reality of lending. Its happening now,Its $684.00 now in preeve and it seems it will continue to rise as we approach halving period. Lenders are happy now, hope they are compassionate to those having a higher loan, who are grappling to pay.
And it is going to happen more and more these coming days. Seeing a lot of money in it makes the devil go in to grab some cash instantly non taxable from other bitcoin user.
This past 5 days is a perfect example of not taking a loan nowadays.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
Thats the sad reality of lending. Its happening now,Its $684.00 now in preeve and it seems it will continue to rise as we approach halving period. Lenders are happy now, hope they are compassionate to those having a higher loan, who are grappling to pay.
If you already had 800 BTC, I suggest you stay out of this loaning thing cause you can lose it. I suggest that you do some trading, get 1 BTC out of it, buy altcoins, then sell when it gets high just do some research first before buying.
Yeah, loaning is definitely way too risky for you right now since you have 800 BTC. I suggest you split those funds into 50 BTC and 750 BTC. The 50 BTC you can do whatever you want with it, invest in whatever. That 750 BTC you hold in BTC for the long term.
I suggest you use a cold storage wallet instead of coinbase vault as well.
Banks will be encouraged to lend more to their weakest borrowers and take on excessive risks if global regulators push ahead with a rule change aimed at making it harder to cheat on safety measures, a leading industry group has warned.
of course it is very risky.
at first they wanted to borrow money or bitcoin we have to face that really should be loaned out, and when they have money, they probably will not return and instead use it for other purposes. beware lending
Loans can be very risky but only for the people that cannot pay it back, if you you that you are able to pay it back that you have no worries. If you think that you are not able to pay it back then you should not take a loan. at first they wanted to borrow money or bitcoin we have to face that really should be loaned out, and when they have money, they probably will not return and instead use it for other purposes. beware lending
Loan is a very risky thing. It can be good only if u take it to buy a house or flat for yourself. In other cases u only feed banks with your money u start to work on banks.
This past 5 days is a perfect example of not taking a loan nowadays.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
Thats the sad reality of lending. Its happening now,Its $684.00 now in preeve and it seems it will continue to rise as we approach halving period. Lenders are happy now, hope they are compassionate to those having a higher loan, who are grappling to pay.
If you already had 800 BTC, I suggest you stay out of this loaning thing cause you can lose it. I suggest that you do some trading, get 1 BTC out of it, buy altcoins, then sell when it gets high just do some research first before buying.
And yeah, if you already had 800 btc you don't have to lend it to the people because it is very risky even you have a lot of it, 1 btc is only nothing for you. But if you are that conscious with your money. Better to hold it, just like the bitcoin millionaires do, they are just holding it and not getting into loaning service.
This past 5 days is a perfect example of not taking a loan nowadays.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
If you took a 1 BTC loan last Friday at conversion rate of $578 for 1 BTC, you'll be paying that today at $681 for 1 BTC plus the agreed interest rate for example is 15%. Lenders are now afraid if those who borrowed might not pay up because of the current conversion rate of BTC to a dollar.
Yes, that's one of the consequences why loaning today is very risky, lender will give you the amount you need but that time would be the lower value of bitcoin.
And if you are going to pay it , it will going to be on a higher price.
Jump to: