ranks? bullshit. even a higher ranked member can scam. don't give a loan with no valid collateral if you want to be safe.
There was a valid collateral used which is the borrowers account, it's just that this loan is a "for sale" in disguise.
So lesson here should be collateral should be at 120% value of the loan request.
Sad part on the lender, lender lost bitcoin and collateral now have red trust.
bitcointalk account is not a valid collateral. especially when Tomatocage is going around telling everyone that he's going to leave negative feedback when the borrower default, even if the account has switched ownership.
and, in case you missed it, the lender failed to secure the account.
I think if one post a negative feedback on defaulted loan account then it is not a fair for the lender. Instead giving red rating better ban accounts selling and lending loans for accounts. Just one got a good rating nothing but he can rule the whole forum.
Only one can give a negative feedback if lender gave loan without collateral and defaulted then it is fair enough.
