People lending no collateral? - page 3.

GannickusX

hero member

Activity: 490

Merit: 500

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

Joca97

legendary

Activity: 3794

Merit: 1030

The Best Tipster on the Forum!!

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

GannickusX

hero member

Activity: 490

Merit: 500

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

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

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.

GannickusX

hero member

Activity: 490

Merit: 500

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?

Topic: People lending no collateral? - page 3. (Read 4625 times)