Out of curiosity, what do people do with bitcoins when asking for a loan?

TommyBitcoin

sr. member

Activity: 350

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Interested in the Power of Bitcoin

Quote from: Slowturtleinc on April 11, 2016, 04:30:59 PM

These questions are usually more a probe into lenders and excuses scammers can use then actual interest.
They pop up enough to notice the trend and see which lenders may be more suspect to being scammed.
2 posts and you found lending to ask this question with no hidden agenda? Not likely.

Interesting take, I never thought about that.

This thread did at least help me to understand all the reasons behind taking out such smallish loans.

SebastianJu

legendary

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Don't forget that a lot of users on bitcointalk are from countries with very low wages. $4 might be more than a days worth of work in their country so for them it might be a big amount then.

Slowturtleinc

member

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Merit: 10

These questions are usually more a probe into lenders and excuses scammers can use then actual interest.
They pop up enough to notice the trend and see which lenders may be more suspect to being scammed.
2 posts and you found lending to ask this question with no hidden agenda? Not likely.

traderbit

hero member

Activity: 798

Merit: 1000

Quote from: iAcceptBitCoin on April 11, 2016, 04:14:13 PM

Thanks for all the serious replies guys! Totally makes sense now i suppose, i was just curious.

You're welcome, something to add, personally i would take a loan only if i reach the withdrawal limit on the exchange (for example it is a limit of $2,000 on poloniex to withdraw daily) and only when I'm sure that i can cover the loan.

iAcceptBitCoin

newbie

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Thanks for all the serious replies guys! Totally makes sense now i suppose, i was just curious.

traderbit

hero member

Activity: 798

Merit: 1000

Some people take loans for betting or gambling which is very bad to hear, but i have seen that people take loans because they need to complete a transaction for example they have 0.99 and need 0.01 more to send 1btc or something like that, or any current limit in any website to withdraw the bitcoins etc.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: iAcceptBitCoin on April 11, 2016, 02:17:51 PM

What can you even do with .01 of a BTC?

Huh

10 mbtc is 4 $. Its not bad for people who play dices with low bets. When you play dice game you can see on chat how many people ask for loan for gambling 0.5 mbtc and higher.
When I play and someone is asking for 1, 2 mbtc I give when I have. Good people return that, more then 20 mbtc I never saw again after lending.
After a month of playing I had few trusted people who asked all the time for loan and they return that with interest.
So can you imagine if you take 4 $ from 10 places, you have 40 $ for yourself.

OmegaStarScream

staff

Activity: 3500

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Quote from: iAcceptBitCoin on April 11, 2016, 02:17:51 PM

What can you even do with .01 of a BTC?

Huh

I will have to agree with you , with one way or another .
Sometimes the amount is just too small and I believe that those users ask for those amounts just to get feedback's and build their trust . Still , some small amounts are useful sometimes (e.g buying a domain name)

longbob72

hero member

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V2h5IGFyZSB5b3UgcmVhZGluZyB0aGlzPw==

why yes. even 0.01BTC have its uses.
sometimes people ask very small loan when they found themselves missing certain amount to do something like withdrawing or buying stuff.

iAcceptBitCoin

newbie

Activity: 13

Merit: 0

What can you even do with .01 of a BTC?

Huh

Topic: Out of curiosity, what do people do with bitcoins when asking for a loan? (Read 555 times)