Topic: Need your suggestion, may start a BTC lending service - page 2. (Read 2240 times)
Lending bitcoin is one among the best profiting access for bitcoin users. With these kind of service the risk is very heavy than making investment. Because with these services several people try to scam the newcomers with collateral.
I think that BTC lending service is very profitable project , but you must take collateral from new members and make the maximum lending amount for new members of low rank and this forum and when you take the collateral if the member is a scammer you can sell the collateral who must be more then the lended amount
about high member rank you can trust them by checking their work history or the trust history
Good luck in your work
about high member rank you can trust them by checking their work history or the trust history
Good luck in your work
I partly agree with you. But in my own perspective. I think it is best to have a Collateral in every lend you make. In this case, you will minimize the risk of scam since they will loose more amount than you have lend to them. Even if they have a good reputation there is still risk of scamming.
But, it also depends on the situation. If you are going to lend a trustworthy person, no need to worry about collateral. Just make your transaction public so that you will have a reference in case that person runs away.
I think that BTC lending service is very profitable project , but you must take collateral from new members and make the maximum lending amount for new members of low rank and this forum and when you take the collateral if the member is a scammer you can sell the collateral who must be more then the lended amount
about high member rank you can trust them by checking their work history or the trust history
Good luck in your work
about high member rank you can trust them by checking their work history or the trust history
Good luck in your work
I don't see the point of a cosigner or guarantor because it could just be an alt. If someone is trusted in the bitcointalk community you'll know it and not have to worry about a vouch or cosign from someone else trusted. Also, you always run the risk of having the account tagged because they defaulted on a loan so that's another issue you'll need to worry about.
In my opinion it's not a good business. Here on forum it's too risk to lend money and you will need to take accounts as colateral and I know some members of this forum had their trusted negatived because the colateral accounts.
Nothing you can do about it later after your account is negatived. If you want to lend money use Poloniex.
Polo niece? Never heard of it. I'll go check it out sometime Nothing you can do about it later after your account is negatived. If you want to lend money use Poloniex.
In my opinion it's not a good business. Here on forum it's too risk to lend money and you will need to take accounts as colateral and I know some members of this forum had their trusted negatived because the colateral accounts.
Nothing you can do about it later after your account is negatived. If you want to lend money use Poloniex.
Nothing you can do about it later after your account is negatived. If you want to lend money use Poloniex.
If you are tending to make a lending business the no.1 rule should be asking always for collateral,if theres none theres no loan and dont really be too kind because here on online world you cant be sure to the people you are dealing with and speaking of money scammers are always there so better watch out.
Yes, there are always people requesting money and very few of them have proper money management skills (or they wouldn't be asking). Unless you can put up with chasing people for money and accepting losses, you should probably steer clear. I doubt even the best money lenders are making much because it is too easy to vanish online and never repay your debts.
I believe it, you have a valid point. Maybe it's best for myself to sit back and take my time with my decision on what I'm going to do next. I will figure something out.Thanks everyone for your Input.
Much Appreciated
Yes, there are always people requesting money and very few of them have proper money management skills (or they wouldn't be asking). Unless you can put up with chasing people for money and accepting losses, you should probably steer clear. I doubt even the best money lenders are making much because it is too easy to vanish online and never repay your debts.
If you want to give solution to those people who are asking loans without collateral, that isn't going to work as business.
It is not going to make you productive to have this type of lending service but if you really want to make this happen.
It's going to be on your part to just give loans to those guys that has reputation in the forum which I think is your responsibility.
I agree its better to stay away from no collateral loans as they may be a draw back for someone that just got into this business besides if they are trusted their should be users who they befriended and will easily fill their loan. It is not going to make you productive to have this type of lending service but if you really want to make this happen.
It's going to be on your part to just give loans to those guys that has reputation in the forum which I think is your responsibility.
And if you will be accepting accounts you need to make sure the account is in good standing and set high rates too.
If you want to give solution to those people who are asking loans without collateral, that isn't going to work as business.
It is not going to make you productive to have this type of lending service but if you really want to make this happen.
It's going to be on your part to just give loans to those guys that has reputation in the forum which I think is your responsibility.
Well. I don't believe accepting bitcointalk user accounts as collateral would be a great idea would it? Don't those defaulted user accounts from loans get red flagged? It is not going to make you productive to have this type of lending service but if you really want to make this happen.
It's going to be on your part to just give loans to those guys that has reputation in the forum which I think is your responsibility.
If you want to give solution to those people who are asking loans without collateral, that isn't going to work as business.
It is not going to make you productive to have this type of lending service but if you really want to make this happen.
It's going to be on your part to just give loans to those guys that has reputation in the forum which I think is your responsibility.
It is not going to make you productive to have this type of lending service but if you really want to make this happen.
It's going to be on your part to just give loans to those guys that has reputation in the forum which I think is your responsibility.
Collateral i think is a must. Because theres a lot of scammers around this forum. You know, just for assurance that your client will pay back for what they owe to you. I saw someone that offers loan with no collateral. I just dont know if he was successful running that business here. Collateral is highly recommended. Its for your safety.
Without collateral, people must be very generous and enjoy handing out BTC knowing that all they'll get is an IOU for a repayment 
Collateral i think is a must. Because theres a lot of scammers around this forum. You know, just for assurance that your client will pay back for what they owe to you. I saw someone that offers loan with no collateral. I just dont know if he was successful running that business here. Collateral is highly recommended. Its for your safety.
Here's where I need an suggestion or opinion!...
There's always users requesting loans without collateral, what do yall think of this.
"If the Borrower requested a loan without collateral, they could have a Default trust/Trusted BTCTalk Forum User with excellent Reputation either Vouche/or Co-sign the loan agreement?"
There's always users requesting loans without collateral, what do yall think of this.
"If the Borrower requested a loan without collateral, they could have a Default trust/Trusted BTCTalk Forum User with excellent Reputation either Vouche/or Co-sign the loan agreement?"
Good luck to your lending plan, but the question is those default trust member will have their time to vouch or co-sign for a guy that wants to loan without collateral? Because their name can be included if that guy will fail to pay you. Better to avoid headaches, just don't give loans to people that will ask you loan without collateral.
Here's where I need an suggestion or opinion!...
There's always users requesting loans without collateral, what do yall think of this.
"If the Borrower requested a loan without collateral, they could have a Default trust/Trusted BTCTalk Forum User with excellent Reputation either Vouche/or Co-sign the loan agreement?"
There's always users requesting loans without collateral, what do yall think of this.
"If the Borrower requested a loan without collateral, they could have a Default trust/Trusted BTCTalk Forum User with excellent Reputation either Vouche/or Co-sign the loan agreement?"
Good luck to your lending plan, but the question is those default trust member will have their time to vouch or co-sign for a guy that wants to loan without collateral? Because their name can be included if that guy will fail to pay you. Better to avoid headaches, just don't give loans to people that will ask you loan without collateral.
i will discourage you to enter on this type of business. First of all, the only common or majority of collateral here is account on this forum, but in contrary it is forbidden to sell account because you will be tagged by DT with red tag, so it means that you will be in loss if someone borrow you a money and forfeited with their loan, there are many cases here that have same scenario. The only thing you can recover your loss is to sell the account in private and that the DT won't see the loan application of the forfeited borrower.
No collateral?
A cosigner is a good idea, that way you can mark the trust of both. However marking negative trust on an account is only valuable if the account has a long history. A newbie or junior member is too new, too easy to buy and discard. You could also make part of the agreement that defaulting on a no collateral loan results in negative trust 2x or 5x the amount loaned.
You should also make the interest high and repayment term quick and the max loan amount low. The goal is to not to encourage customers to engage in no collateral loans.
A cosigner is a good idea, that way you can mark the trust of both. However marking negative trust on an account is only valuable if the account has a long history. A newbie or junior member is too new, too easy to buy and discard. You could also make part of the agreement that defaulting on a no collateral loan results in negative trust 2x or 5x the amount loaned.
You should also make the interest high and repayment term quick and the max loan amount low. The goal is to not to encourage customers to engage in no collateral loans.
It's indeed a risky business and a collateral is a must,because we do not know every one here personally,some lenders ask for the equivalent from other altcoins other their account,but if you set it up right you are in for a profit it's much better than trading.
Yeah I've started brainstorming about different options for all types of loans I'll be offering. I'm going to have to take the risk lending to borrowers, depends on the Level of Risk and ROI. This will make or break me im reckoning. Hopefully Im not blinded by greed and can stay conservative to make steady profits/ Over loses 
It's indeed a risky business and a collateral is a must,because we do not know every one here personally,some lenders ask for the equivalent from other altcoins other their account,but if you set it up right you are in for a profit it's much better than trading.
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