Looking for Advice | Bitcointalksearch.org

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Quote from: aTriz on September 06, 2017, 01:52:23 AM

Hello Lenders!

I am looking to start up my own lending thread, mostly for loans below 0.1 BTC, the problem is I have no idea what to do. I've had a couple of questions about this, and was hoping people could help me out and/or give me advice.

Best of luck.

Quote from: aTriz on September 06, 2017, 01:52:23 AM

1. I am not trusted on this forum, so should I be holding collateral, or should I contact a trusted escrow to hold it for me. If your a trusted escrow, who is interested in helping me out, post here. Maybe we can work on something long term.

It depends on what the loanee wants, if they do want a escrow typically you make them pay for the fee, although many escrowers don't like holding accounts as collateral as a waste of time. Make sure to use a trusted escrower.

Quote from: aTriz on September 06, 2017, 01:52:23 AM

2. What is counted as valid collateral? Is it a good idea to allow people to use BTT accounts as collateral?

https://bitcointalksearch.org/topic/m.6311902
Mostly altcoins, domain names (non-retrievable digital items), and physical items. I typically don't accept any accounts below Sr. Member as collateral and also check there post history to see if they are an account farmer only posting in "Games & Rounds" or "Off-Topic" and are wearing a signature for a Signature Campaign as well.

Quote from: aTriz on September 06, 2017, 01:52:23 AM

3. Is it same to give no collateral loans to trusted members?

Anyone with Green trust I wouldn't worry about collateral as long as the loan isn't big, although if the loan is big I don't wave in there past trust I still require the same amount of collateral.

Quote from: aTriz on September 06, 2017, 01:52:23 AM

4. Who covers transaction fees?

You when sending the loan and the loanee when sending the loan back.

When recieving an account as collateral, always check to see there trust, if there pass/email was changed, check there addresses used on the account, see if they are still using older ones. (Can use this website to see a detailed review of there account https://www.bctalkaccountpricer.info/ (ignore the price of there account it is invalid)). Always make them sign a message on an address (Typically one from over a month ago+ is best)

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Quote from: aTriz on September 06, 2017, 01:52:23 AM

I am looking to start up my own lending thread, mostly for loans below 0.1 BTC, the problem is I have no idea what to do. I've had a couple of questions about this, and was hoping people could help me out and/or give me advice.

The most sensible thing you could do is just check out the existing lending threads and maybe you'll get an idea then ?

Quote from: aTriz on September 06, 2017, 01:52:23 AM

1. I am not trusted on this forum, so should I be holding collateral, or should I contact a trusted escrow to hold it for me. If your a trusted escrow, who is interested in helping me out, post here. Maybe we can work on something long term.

Yes you should use a trusted escrow for loans involving high volumes.

Quote from: aTriz on September 06, 2017, 01:52:23 AM

2. What is counted as valid collateral? Is it a good idea to allow people to use BTT accounts as collateral?

Generally,no.Don't accept accounts as collateral unless the person is a trusted member of the forum and you think they really value their reputation and such,

Quote from: aTriz on September 06, 2017, 01:52:23 AM

3. Is it same to give no collateral loans to trusted members?

4. Who covers transaction fees?

Wish me luck, hoping to start my thread in around 1 month.

1.No,don't trust anybody without an escrow/a valid collateral unless you are 100% sure the person is trusted.
2.The lender covers transaction fees.
3.Good Luck!

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Quote from: aTriz on September 06, 2017, 04:56:43 PM

Quote from: Tipsters link=topic=2154853.msg21570255#msg21570255

I'm not a lender but I know some things about it.
1. Since you know yourself that you are not a trusted member of the forum then you must ask an escrow to hold the collateral until the deal is done.

Have contacted an escrow, so working things out on that end.

Quote from: Tipsters link=topic=2154853.msg21570255#msg21570255

2. Valid collateral are mostly altcoins and domains but bitcointalk accounts is acceptable to depending on the lender but most lender doesn't accept Bitcointalk as collateral due to some reasons.

Not looking to use btt accounts for collateral, since I don't want to be left in a position where I have to sell the account if they default.

Quote from: Tipsters link=topic=2154853.msg21570255#msg21570255

3. Lending to a trusted member without collateral depends to the lender if he'll lend him. (Most Trusted member get no collateral loan because they wouldn't run since it will ruin their reputation)

I see, I will probably be following this rule

Quote from: Tipsters link=topic=2154853.msg21570255#msg21570255

4.Transaction fees are mostly added to the interest.

I see.

If you want to lend to a trusted lender, get a signed message from an address staked at least 6 months ago.
Ask for the borrower to pay the escrow fees if they want escrow and I lent on here without it.
To the bct account usage, most people end up defaulting and just selling their account. But you might be able to sell them.

aTriz

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