Loans too risky? - page 79. | Bitcointalksearch.org

vendetahome

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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

of course it is very risky, so many scammers out there, i wouldn't risk my bitcoins to give loans

it is like dumb gambling, you risk all of your money for small small chance to get 5% or so more, i really wouldn't risk that because too risky

n0ne

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Quote from: user64 on March 24, 2016, 04:47:38 AM

You already made a crazy amount of profit on your investment. why not enjoy that instead of the risking it? there has to be other ways of investing ou there with less risk.

Above quote is a good suggestion for your betterment. Now finding a good site for investment itself difficult. So as said try earning through other forms with the profit earned from investment that's been made earlier.

user64

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You already made a crazy amount of profit on your investment. why not enjoy that instead of the risking it? there has to be other ways of investing ou there with less risk.

Icathia

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Quote from: SFR10 on February 25, 2016, 12:36:08 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.

Yeah of course a loan is risky. Loaning money cost just more money and it can be a long before you have paid back your loan.
Some people are stuck to paying there loan back almost there hole lives.

phreaky

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Quote from: wafersticks09 on February 28, 2016, 10:16:04 AM

Yeah me too, I dont think he has that amount of bitcoin coz most of the bitcoiner that has even 10btc doesnt telling to anyone that they have that amount. But anyway if this is true the requested loan must not be higher or equal to the collateral for you to gain some profit.

Wel yes. Remember a lot of users are not really loaning they want something else. To scam people.
Even if you got collateral they will try to scam you. Therefore i would never enter the loaning business. Even for personals loans.

wafersticks09

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Yeah me too, I dont think he has that amount of bitcoin coz most of the bitcoiner that has even 10btc doesnt telling to anyone that they have that amount. But anyway if this is true the requested loan must not be higher or equal to the collateral for you to gain some profit.

safari88

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yes of course loans is very risky. especially we play in the online world and do not know each other. but there are safe ways such as using a trusted third party to this forum.

CryingMidget

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Quote from: n691309 on February 28, 2016, 08:15:34 AM

You are very lucky that you bought bitcoin at 0.07$, i would not suggest to start loaning those btc to people, i would suggest to invest someone in any good company shares.

Yeah loaning is biggest headache when you start a new business or anything.
Even in bitcoin also interest will go in high range so we can't make big with that.

n691309

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You are very lucky that you bought bitcoin at 0.07$, i would not suggest to start loaning those btc to people, i would suggest to invest someone in any good company shares.

ABCbits

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Someone with almost perfect reputation can run away with loans and never pay and it often happen.
Even third-party website to facilitate you to make or take loan won't help you much.

Loans bitcoin won't work very well, even with collateral. People still run with bitcoin and don't care with their collateral.

jjoorriissjjuuhh

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Loaning out to people is always a risk, if you are uncomfortable with your coins out of reach do not even start with it.
For the other things I can just recommend you find a good loaner, earn platform.

jt byte

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The problems with online loans are that you can't rely on anything.
Look at the escrow guy for example. His reputation was excellent but yet he did a runner.

Therefore i would never loan money to a strange, no matter how good his/her reputation may be.

arbitrage

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It is obvious this man conducting some kind of social experiment here.

He tries to cause jealousy and to see how will people react.

If not, then must be some kid seeking for some attention.

MyBTT

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Quote from: The Sceptical Chymist on February 24, 2016, 11:26:13 PM

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?

Lol I don't believe a word you say about your bitcoin holdings, no offense. And what's up with people not returning what they borrow? Hello, are you new to the world? It's greed and dishonesty. I assume you're probably not new to this forum either.

Yeah neither do I. You are a newbie that bought Bitcoins back in 2010. Anyway, people do return what they get given.

tyz

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Apart from the fact that I do not believe you are owing such an amount of Bitcoin, you should assure yourself by requesting an appropriate collateral. This could be one of the top 20 altcoins or even top bitcointalk amount or some other stuff. If the loan is defaulted, you could easily get your money back by liquidating the collateral.

arbitrage

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Quote from: ronaldinho_07 on February 25, 2016, 06:33:57 PM

This sounds unreal to be honest,but why to lend 340k now and a high chance that may reach 500k dollars soon and you wanna lend where suits your brain?

And why do you have this address for donations? Grin

I mean you have really good story here. Good that i can't believe in it.

You just want to see how will people react on your story!?

BitMaxz

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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

Even you are not telling the truth i'll give you a simple answer.. Yeah loans is risky But you can use escrow to deal to borrower and make sure always ask for valid collateral so that even they forgot to repay his loans. You can sell his account for a better price..
Everything in online is too risky if you're not using your brain you will scam. So always be careful and use escrow and ask for valid collateral to prevent fraud.

KiwiParty

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Quote from: zachmartus on February 26, 2016, 04:51:57 PM

Thanks for the good advise and I will be holding the bitcoin until I can sell it for a larger price.

Again thank you all for the help on what I should do!

No one, holding 800 BTC atm, would post such a naive question here...
The rate fluctuations over the last 3 months should give you a good idea what to do.
We all have a calculator, and know how to use it. So, whether you sell, or try to achieve more,
such questions are based on trust, and experience.
As such a risk management advisor is the best friend and suggestion i can make.

zachmartus

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Thanks for the good advise and I will be holding the bitcoin until I can sell it for a larger price.

Again thank you all for the help on what I should do!

john2231

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Honestly no can trust anyone but if you want to deal with no worries use escrow and collateral must be there and valid..
So that if the borrower even he can't repay .you can sell his account or what collateral do you have..

Topic: Loans too risky? - page 79. (Read 67101 times)