Topic: No collateral!!! (Read 1255 times)
If he/she loan to you or have a debt you should have to put collateral so that you can assure that she/he can pay to you . Business is business even if the people have loan to you or have debt to you are your relatives make or put an collateral.
Higher members account have the chance to get hacked. The hackers might use them to get as much loan as possible. So the lenders should always check their posting history whether they have pending loan. And some careful loaners will ask for the signed message from an address of the unedited posts to verify the ownership of the account!
Nowadays, most of them are makeup stories. They take advantage of "hacks" and "lack of proof of ownership" to scam people by taking loans. It has increased recently.
Yeah well that's what i'm noticing, so many loans seem to result in the loaner losing out.
hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
Higher members account have the chance to get hacked. The hackers might use them to get as much loan as possible. So the lenders should always check their posting history whether they have pending loan. And some careful loaners will ask for the signed message from an address of the unedited posts to verify the ownership of the account!
Nowadays, most of them are makeup stories. They take advantage of "hacks" and "lack of proof of ownership" to scam people by taking loans. It has increased recently.
I think why the loanee uses altcoins as collateral is that they won't liquidate their altcoins holding.
Liquidating takes seconds on an exchange plus you don't have to pay back any interest to anyone. But what do I know? I've been cursed with that nasty logic stuff.
It's not a matter or interest or time. It's "how valuable it is to them". In real world, you may use vehicle, land, buildings and all as collateral instead of selling them. Altcoins and/or accounts are valuable to borrower which makes them use it as collateral rather than selling 'em.
I've noticed a fair few accounts used as collateral that have been hacked though. Perhaps that doesn't matter to the loaner, but don't they tend to get red flagged?
how do you know that the account has been hacked? if you have proof just report them to some trusted user that cares (tomatocage, quickseller, etc) and they'll get a red flag in no time. it doesn't matter if the loaner doesn't care, hacked account is still hacked account.
I think why the loanee uses altcoins as collateral is that they won't liquidate their altcoins holding.
Liquidating takes seconds on an exchange plus you don't have to pay back any interest to anyone. But what do I know? I've been cursed with that nasty logic stuff.
It's not a matter or interest or time. It's "how valuable it is to them". In real world, you may use vehicle, land, buildings and all as collateral instead of selling them. Altcoins and/or accounts are valuable to borrower which makes them use it as collateral rather than selling 'em.
I've noticed a fair few accounts used as collateral that have been hacked though. Perhaps that doesn't matter to the loaner, but don't they tend to get red flagged?
how do you know that the account has been hacked? if you have proof just report them to some trusted user that cares (tomatocage, quickseller, etc) and they'll get a red flag in no time. it doesn't matter if the loaner doesn't care, hacked account is still hacked account.
I think why the loanee uses altcoins as collateral is that they won't liquidate their altcoins holding.
Liquidating takes seconds on an exchange plus you don't have to pay back any interest to anyone. But what do I know? I've been cursed with that nasty logic stuff.
It's not a matter or interest or time. It's "how valuable it is to them". In real world, you may use vehicle, land, buildings and all as collateral instead of selling them. Altcoins and/or accounts are valuable to borrower which makes them use it as collateral rather than selling 'em.
I've noticed a fair few accounts used as collateral that have been hacked though. Perhaps that doesn't matter to the loaner, but don't they tend to get red flagged?
hero member
Activity: 560
Merit: 509
I prefer Zakir over Muhammed when mentioning me!
I think why the loanee uses altcoins as collateral is that they won't liquidate their altcoins holding.
Liquidating takes seconds on an exchange plus you don't have to pay back any interest to anyone. But what do I know? I've been cursed with that nasty logic stuff.
It's not a matter or interest or time. It's "how valuable it is to them". In real world, you may use vehicle, land, buildings and all as collateral instead of selling them. Altcoins and/or accounts are valuable to borrower which makes them use it as collateral rather than selling 'em.
I think why the loanee uses altcoins as collateral is that they won't liquidate their altcoins holding.
Liquidating takes seconds on an exchange plus you don't have to pay back any interest to anyone. But what do I know? I've been cursed with that nasty logic stuff.
I quite enjoy reading the lending section. Particularly because of the newbies asking g for loans. However what I'm noticing is NOBODY seems to ask for a loan having got collateral. There's a sticky that says you need it but nobody ever has any yet loans still get given.
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
I've seen newbies giving their forum accounts or altcoin accounts as collateral while senior members don't give any collateral but are given a loan based on their reputation or trust. The loan givers should be just careful as senior accounts can be sold as well earlier and it could be a scammer who is asking for a loan.
I simply do not get the lending section. At. All.
If you're giving alts as collateral why not, er, sell them for BTC instead?
If you're taking the collateral, why expose yourself to alt markets that are far tinier with a much higher risk of death in return for a piffling BTC gain?
It's a section that feels like it was created long before I came along and runs by rules that everyone else seems to understand and accept bar me.
I think why the loanee uses altcoins as collateral is that they won't liquidate their altcoins holding. If you're giving alts as collateral why not, er, sell them for BTC instead?
If you're taking the collateral, why expose yourself to alt markets that are far tinier with a much higher risk of death in return for a piffling BTC gain?
It's a section that feels like it was created long before I came along and runs by rules that everyone else seems to understand and accept bar me.
I simply do not get the lending section. At. All.
If you're giving alts as collateral why not, er, sell them for BTC instead?
If you're taking the collateral, why expose yourself to alt markets that are far tinier with a much higher risk of death in return for a piffling BTC gain?
It's a section that feels like it was created long before I came along and runs by rules that everyone else seems to understand and accept bar me.
If you're giving alts as collateral why not, er, sell them for BTC instead?
If you're taking the collateral, why expose yourself to alt markets that are far tinier with a much higher risk of death in return for a piffling BTC gain?
It's a section that feels like it was created long before I came along and runs by rules that everyone else seems to understand and accept bar me.
you can pretty much calculate the allowed loan based on their rank, anyway. the chance of a Hero member defaulting a 0.1 loan are pretty slim. unless they drop dead
but if you want to feel 120% safe, then use escrow
but if you want to feel 120% safe, then use escrow
Even with that sometimes a Hero Member account may be trading with couple of other people and pulling a large one by scamming for a larger amount . That loan amount might not only be the amount he might be requesting.
that's why lenders should check a user's post history before giving them any loans.
you can pretty much calculate the allowed loan based on their rank, anyway. the chance of a Hero member defaulting a 0.1 loan are pretty slim. unless they drop dead
but if you want to feel 120% safe, then use escrow
but if you want to feel 120% safe, then use escrow
Even with that sometimes a Hero Member account may be trading with couple of other people and pulling a large one by scamming for a larger amount . That loan amount might not only be the amount he might be requesting.
Just depends on the person asking for the loan. Several months back I asked for a 5BTC loan because my wallet machine was offline. I got the loan in 15 minutes with no collateral.
I guess there are exceptions where you've been around for a long time and have a lot of trust.
I have done a few loans with no collateral and they did not have amazing trust levels...it also depends on posts.
Just depends on the person asking for the loan. Several months back I asked for a 5BTC loan because my wallet machine was offline. I got the loan in 15 minutes with no collateral.
I guess there are exceptions where you've been around for a long time and have a lot of trust.
Just depends on the person asking for the loan. Several months back I asked for a 5BTC loan because my wallet machine was offline. I got the loan in 15 minutes with no collateral.
I quite enjoy reading the lending section. Particularly because of the newbies asking g for loans. However what I'm noticing is NOBODY seems to ask for a loan having got collateral. There's a sticky that says you need it but nobody ever has any yet loans still get given.
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
I would never even consider giving an unsecured loan. With all these scammers around, you simply cannot trust BTC people anymore. 8 of out 10 projects are scams, this is the result of the lack of regulation.
Also, I always tend to use specialized lending websites, BTClend and similar.
you can pretty much calculate the allowed loan based on their rank, anyway. the chance of a Hero member defaulting a 0.1 loan are pretty slim. unless they drop dead
but if you want to feel 120% safe, then use escrow
but if you want to feel 120% safe, then use escrow
I quite enjoy reading the lending section. Particularly because of the newbies asking g for loans. However what I'm noticing is NOBODY seems to ask for a loan having got collateral. There's a sticky that says you need it but nobody ever has any yet loans still get given.
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
I give loans without collateral who Im pretty sure that he repays.
I also take collateral sometimes...
I quite enjoy reading the lending section. Particularly because of the newbies asking g for loans. However what I'm noticing is NOBODY seems to ask for a loan having got collateral. There's a sticky that says you need it but nobody ever has any yet loans still get given.
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
No wonder people keep coming back asking for insecure loans. Those are the only loans given here...
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