People lending no collateral? - page 2.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

Quote from: XinXan on March 27, 2015, 12:17:55 AM

Quote from: rayhan on March 26, 2015, 07:09:13 PM

if i had quite a lot of bitcoin and opened the thread loans without collateral, of course before giving a loan i'll check first and probably only give loans to the user with a nice background ..
but of course better to use collateral for safer

Yes but there are not many really trusted members and those who arent will probably dont need loans, like in the lending section mostly newbies are searching for loans, most of them to scam. I was planning on giving some loans, i have 0.4 but only with collateral even trusted members

if collateral is their account make sure that the value of the loan below the price of the account
well... goodluck

XinXan

hero member

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Quote from: rayhan on March 26, 2015, 07:09:13 PM

if i had quite a lot of bitcoin and opened the thread loans without collateral, of course before giving a loan i'll check first and probably only give loans to the user with a nice background ..
but of course better to use collateral for safer

Yes but there are not many really trusted members and those who arent will probably dont need loans, like in the lending section mostly newbies are searching for loans, most of them to scam. I was planning on giving some loans, i have 0.4 but only with collateral even trusted members

rayhan

sr. member

Activity: 378

Merit: 250

be your self

if i had quite a lot of bitcoin and opened the thread loans without collateral, of course before giving a loan i'll check first and probably only give loans to the user with a nice background ..
but of course better to use collateral for safer

bitboy11

hero member

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It is quite insane to see that there are actually people in this forum who are lending without collateral.
Lenders should require something pledged as security for repayment of any loan, which will be forfeited in the event of a default.

marcotheminer

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┴puoʎǝq ʞool┴

Quote from: XinXan on March 26, 2015, 12:48:31 PM

Quote from: marcotheminer on March 26, 2015, 12:26:10 PM

Quote from: koshgel on March 24, 2015, 09:54:03 PM

Loaning without collateral is a big mistake. I understand a loan between friends but don't ever consider loaning a gambler. You will hear 1000 excuses before you ever see your coin back. Loaning is -EV.

Not if you loan carefully Wink

Loaning carefully would be loaning with collateral, if you loan with collateral you are pretty much 100% safe but without it? Even if you are extremely careful, just 1 bad loan and it fucks up everything

Not if you give out 100s of loans to the correct people (those with background/trust on the forums).

XinXan

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Quote from: marcotheminer on March 26, 2015, 12:26:10 PM

Quote from: koshgel on March 24, 2015, 09:54:03 PM

Loaning without collateral is a big mistake. I understand a loan between friends but don't ever consider loaning a gambler. You will hear 1000 excuses before you ever see your coin back. Loaning is -EV.

Not if you loan carefully Wink

Loaning carefully would be loaning with collateral, if you loan with collateral you are pretty much 100% safe but without it? Even if you are extremely careful, just 1 bad loan and it fucks up everything

marcotheminer

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┴puoʎǝq ʞool┴

Quote from: koshgel on March 24, 2015, 09:54:03 PM

Loaning without collateral is a big mistake. I understand a loan between friends but don't ever consider loaning a gambler. You will hear 1000 excuses before you ever see your coin back. Loaning is -EV.

Not if you loan carefully Wink

pagalwana

full member

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Merit: 100

Quote from: GannickusX on March 24, 2015, 03:03:19 AM

Why is some people doing that? I mean what do they win by lending bitcoins to anyone without a collateral, are they just trying to farm trust? Even if they are its still pretty stupid since you could get trust lending with collateral aswell, am i missing something?

they are simply gambling their coins with much risk less payout Sad

GannickusX

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Quote from: Ruckspin on March 25, 2015, 04:31:34 AM

Quote from: GannickusX on March 24, 2015, 08:59:59 AM

Quote from: unamis76 on March 24, 2015, 07:51:12 AM

Basically farming trust at all costs as far as I can see. It's a bit like paying for trust... The thing is, it's not really profitable haha

Yeah and you can farm trust using collateral anyways and its more safe that way

I think probably the majority of loans taken out are done just to build rep or feedback. Why do people really need to borrow tiny little amounts of btc otherwise? The only thing I can think of is gambling but thats a quick way to lose all your money as most people don't win in the long run.

yes for gambling, like 90% of people who take loans here are using them for gambling because as you said what would you use that tiny amount of money for.

Ruckspin

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Quote from: GannickusX on March 24, 2015, 08:59:59 AM

Quote from: unamis76 on March 24, 2015, 07:51:12 AM

Basically farming trust at all costs as far as I can see. It's a bit like paying for trust... The thing is, it's not really profitable haha

Yeah and you can farm trust using collateral anyways and its more safe that way

I think probably the majority of loans taken out are done just to build rep or feedback. Why do people really need to borrow tiny little amounts of btc otherwise? The only thing I can think of is gambling but thats a quick way to lose all your money as most people don't win in the long run.

Rampton

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Quote from: GannickusX on March 24, 2015, 04:30:27 AM

Quote from: bitkilo on March 24, 2015, 04:27:07 AM

Some people just trust that other members will pay back what they borrow.
Personally i have had 2 loan without any collateral and always paid back, just because i dont have anything of real value to loose my rep here is more important to me than a few coins and i don't want to loose it.
Im a man of my word so if another member is nice enough to lent me some BTC when needed i will always do the right thing and pay it back.
With that said if your new and ask for a loan without collateral you will open yourself up to neg rep by other members.

As for what does the lender have to win by lendind without collateral, easy, its called interest, which is often higher without collateral due to the risks involved.

Yes the interest may be higher but when someone fails to pay 0.01 it destroys all your interest from 5 previous loans

That's just the risk they are willing to take. Personally I don't get why people bother lending money as you're going to get scammed at some point if you don't take collateral but for the tiny percent they make in fees it doesn't seem worth it as like you said one bad loan and you lose out big time. I think the best colleteral is probably a bitcointalk account but only lend half of its worth. People then have incentive to return the money but if they don't you've made a decent profit when you sell it on.

koshgel

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Loaning without collateral is a big mistake. I understand a loan between friends but don't ever consider loaning a gambler. You will hear 1000 excuses before you ever see your coin back. Loaning is -EV.

XinXan

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Merit: 505

Quote from: Joca97 on March 24, 2015, 01:40:15 PM

Quote from: GannickusX on March 24, 2015, 07:01:20 AM

Quote from: Joca97 on March 24, 2015, 06:47:44 AM

People get % from every loan thats how they profit from loans
Also mostly full members and higher rank get loans,other lower ranks never receive

Yes but the % is low, 5-15% and when someone fails to return the loan you lose 100% so i dont see how it is profitable

yes but why would an sr.member risk his account for 0.10 btc or something like that
because his account is much more worth,why should he get negative trust for such a small loan
maybe if it was 1 btc or something then it would be ok

But its not only if they plan to scam, maybe they just cant pay the loan back because they lost their money and they really cant pay it back.

The thing is that you should always ask for collateral and escrow is the best and safest way

Joca97

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The Best Tipster on the Forum!!

Quote from: justinetime on March 24, 2015, 02:04:36 PM

Quote from: Joca97 on March 24, 2015, 01:40:15 PM

Quote from: GannickusX on March 24, 2015, 07:01:20 AM

Quote from: Joca97 on March 24, 2015, 06:47:44 AM

People get % from every loan thats how they profit from loans
Also mostly full members and higher rank get loans,other lower ranks never receive

Yes but the % is low, 5-15% and when someone fails to return the loan you lose 100% so i dont see how it is profitable

yes but why would an sr.member risk his account for 0.10 btc or something like that
because his account is much more worth,why should he get negative trust for such a small loan
maybe if it was 1 btc or something then it would be ok

I thought they are shills and have many alt accounts. But they will never take a risk if it's their main account. AFAIK, most of them who defaulted loan are alt accounts, they need fast money, then they decided to taking loan than sell their account.

maybe they are alts,but i dont think someone would give a loan to a lower rank,also people check if there are open loans
on any of the accounts they want to buy

justinetime

sr. member

Activity: 308

Merit: 250

Quote from: Joca97 on March 24, 2015, 01:40:15 PM

Quote from: GannickusX on March 24, 2015, 07:01:20 AM

Quote from: Joca97 on March 24, 2015, 06:47:44 AM

People get % from every loan thats how they profit from loans
Also mostly full members and higher rank get loans,other lower ranks never receive

Yes but the % is low, 5-15% and when someone fails to return the loan you lose 100% so i dont see how it is profitable

yes but why would an sr.member risk his account for 0.10 btc or something like that
because his account is much more worth,why should he get negative trust for such a small loan
maybe if it was 1 btc or something then it would be ok

I thought they are shills and have many alt accounts. But they will never take a risk if it's their main account. AFAIK, most of them who defaulted loan are alt accounts, they need fast money, then they decided to taking loan than sell their account.

BTC-Bank

member

Activity: 126

Merit: 10

I have at the moment offer two loans here on bitcointalk(i use many platforms for lending) one is 0.06 which i didn't take a collateral for that and one is for 0.015 which offered me as a collateral an amazon account with 4$ coupon in, wich i only check and gave it back to the owner..
First loan will pay me on 28 March and the other have contact me and said that will send the payment wich i am expecting today..why i did that without take any collateral? i want to make a trust cycle between us i have take a look on their accounts and it seem good for me to lend them but we will see in the end.When i will decide if i start offering mostly micro loans here i am going to have both options collateral for small accounts and without on those it will give me a sign of trust so finally with time i can be in a position to make a trust cycle here.
Now if i loose some it is on the game, it wont be first time and i am not regret it special for those small amounts but i will feel sad for trust those who disappoint me..In some words i prefer honesty between collateral, paid loans and failed ones.

Kind Regards,
BTC-Bank.

Joca97

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The Best Tipster on the Forum!!

Quote from: GannickusX on March 24, 2015, 07:01:20 AM

Quote from: Joca97 on March 24, 2015, 06:47:44 AM

People get % from every loan thats how they profit from loans
Also mostly full members and higher rank get loans,other lower ranks never receive

Yes but the % is low, 5-15% and when someone fails to return the loan you lose 100% so i dont see how it is profitable

yes but why would an sr.member risk his account for 0.10 btc or something like that
because his account is much more worth,why should he get negative trust for such a small loan
maybe if it was 1 btc or something then it would be ok

Josef27

hero member

Activity: 784

Merit: 1000

Some people probably doesn't have anything right now but urgently need some bitcoins.

While joining a signature campaign at bitcointalk, I could pay back what I borrow. But if I use my account as collateral, It's hard to get bitcoin here (Or I'm the one who lazy Tongue

) and I didn't have anything else on internet that can I use as collateral.

Some people really need them, unfortunately those scammer exploiting it.
Good things there still kind peoples here.

Building trust is hard, destroying them is easier

GannickusX

hero member

Activity: 490

Merit: 500

Quote from: unamis76 on March 24, 2015, 07:51:12 AM

Basically farming trust at all costs as far as I can see. It's a bit like paying for trust... The thing is, it's not really profitable haha

Yeah and you can farm trust using collateral anyways and its more safe that way

unamis76

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Basically farming trust at all costs as far as I can see. It's a bit like paying for trust... The thing is, it's not really profitable haha

Topic: People lending no collateral? - page 2. (Read 4625 times)