Rollbit.com | Crypto's Most Rewarding Casino 👑 - page 202.

barbara44

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Quote from: aysg76 on January 18, 2022, 03:08:06 AM

Quote from: lienfaye on January 18, 2022, 12:37:29 AM

The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).

Yes you are right on the point that only 7 days period is allotted to payback the loan so we can say that it's short term loan given to the NFT holders(check that are eligible for this) and after that you don't have any right to that NFT and it's already in the Rollbit custody but the point is they become owner of it afterwards.

Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second. This we all know would be like a miracle and that is not the way to make money at all. Loans should be at the bare minimum be 6 months at top, sure if you want 1 day loan then you can get it, but at the max level it should be minimum of 6 months, probably 1 to 2 years as well.

The amount of 20-25 year loans for mortgages are through the roof (pun intended lol) and people are building wealth with it, don't tell me that you can't just make some money with that type of loan when banks have been giving them out left and right.

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Quote from: worle1bm on January 18, 2022, 12:31:13 AM

Quote from: Maus0728 on January 17, 2022, 11:58:05 PM

Quote from: Wiwo on January 17, 2022, 12:24:21 PM

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]

Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.

One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?

Yes it's not like that who all own NFT that are eligible for this collateral loan will ask for the loan from the Rollbit team and only those who needs funds in emergency will use this option and this is how it is intended to work at primary level.But suppose you are not in need of funds and take this opportunity and then if you are unable to pay it in time you just lost your NFT which is worse case.So use it wisely.

Depends on certain mindset of an individual but pretty sure that they would really take advantage of that opportunity that they do have and might not intently to pay off that loan in case

but of course Rollbit isnt really just dumb to give out loan amounts but its just really a waste for someone who do think up this way considering on how valuable these rollbot could possibly be.

Use this in emergency imho just like on what been said but i highly doubt that there would quite a number will really be taking this advantage.

aysg76

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Quote from: lienfaye on January 18, 2022, 12:37:29 AM

The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).

Yes you are right on the point that only 7 days period is allotted to payback the loan so we can say that it's short term loan given to the NFT holders(check that are eligible for this) and after that you don't have any right to that NFT and it's already in the Rollbit custody but the point is they become owner of it afterwards.

Quote from: lienfaye on January 18, 2022, 12:37:29 AM

Yes. Its an option to encourage the NFT owners to gamble or to continue to gamble if they're running out of funds. But regardless of the reason on why you're taking a loan, as long as you can repay it then its fine.

Most probably this is good thing but funding your gambling budget through this feature could be risky one like what if you lost your wagering amount and are unable to repay it? So this is not at all good but taking some emergency funds through this loan is good move but we all are wise enough to make a choice.

lienfaye

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Quote from: BitcoinHunt3r on January 17, 2022, 12:42:44 PM

Rollbit explains on the blog for a 7-day loan without interest but i don't know how much % if more than 7 days.

The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).

Quote from: BitcoinHunt3r on January 17, 2022, 12:42:44 PM

If we try to understand what Rollbit purpose of offering loans is to attract NFT holders to play on their site so I believe most of the users who take advantage of this offer are for gamble basically this is what Rollbit is hoping for.

Yes. Its an option to encourage the NFT owners to gamble or to continue to gamble if they're running out of funds. But regardless of the reason on why you're taking a loan, as long as you can repay it then its fine.

worle1bm

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Quote from: Maus0728 on January 17, 2022, 11:58:05 PM

Quote from: Wiwo on January 17, 2022, 12:24:21 PM

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]

Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.

One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?

Yes it's not like that who all own NFT that are eligible for this collateral loan will ask for the loan from the Rollbit team and only those who needs funds in emergency will use this option and this is how it is intended to work at primary level.But suppose you are not in need of funds and take this opportunity and then if you are unable to pay it in time you just lost your NFT which is worse case.So use it wisely.

Maus0728

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Quote from: Wiwo on January 17, 2022, 12:24:21 PM

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]

Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.

One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?

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Quote from: Wiwo on January 17, 2022, 12:24:21 PM

Quote from: arallmuus on January 17, 2022, 11:07:08 AM

Quote from: dezoel on January 17, 2022, 06:59:19 AM

10k is not really a small amount.

Up to 10k and it depends on the NFT that you are using as collateral so if you NFT only worth 1k on average then you are only getting around that number as your loan.

Quote from: dezoel on January 17, 2022, 06:59:19 AM

That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.

Or you can just keep your NFT without using it as collateral because your NFT might be alot more valuable as well. There is no reason to get a loan by using your NFT as collateral unless you really need it. If you plan on defaulting your collateral then I dont see why you would need to do that as you can always choose to sell your NFT normally in Rollbit's NFT Marketplace

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral I will advise you if not for a case of emergency, you should rather hold your NFT since it's an asset for long term goal, but if there is another steady source of loan repayment without having to look to the collateral then you can go ahead to get the loan.

Rollbit explains on the blog for a 7-day loan without interest but i don't know how much % if more than 7 days. If we try to understand what Rollbit purpose of offering loans is to attract NFT holders to play on their site so I believe most of the users who take advantage of this offer are for gamble basically this is what Rollbit is hoping for. I admit Rollbit is keen to see opportunities and open up the market I'm not surprised if they continue to grow.

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Quote from: arallmuus on January 17, 2022, 11:07:08 AM

Quote from: dezoel on January 17, 2022, 06:59:19 AM

10k is not really a small amount.

Up to 10k and it depends on the NFT that you are using as collateral so if you NFT only worth 1k on average then you are only getting around that number as your loan.

Quote from: dezoel on January 17, 2022, 06:59:19 AM

That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.

Or you can just keep your NFT without using it as collateral because your NFT might be alot more valuable as well. There is no reason to get a loan by using your NFT as collateral unless you really need it. If you plan on defaulting your collateral then I dont see why you would need to do that as you can always choose to sell your NFT normally in Rollbit's NFT Marketplace

An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral I will advise you if not for a case of emergency, you should rather hold your NFT since it's an asset for long term goal, but if there is another steady source of loan repayment without having to look to the collateral then you can go ahead to get the loan.

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Quote from: dezoel on January 17, 2022, 06:59:19 AM

10k is not really a small amount.

Up to 10k and it depends on the NFT that you are using as collateral so if you NFT only worth 1k on average then you are only getting around that number as your loan.

Quote from: dezoel on January 17, 2022, 06:59:19 AM

That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.

Or you can just keep your NFT without using it as collateral because your NFT might be alot more valuable as well. There is no reason to get a loan by using your NFT as collateral unless you really need it. If you plan on defaulting your collateral then I dont see why you would need to do that as you can always choose to sell your NFT normally in Rollbit's NFT Marketplace

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Quote from: aysg76 on January 17, 2022, 04:16:46 AM

Quote from: Strongkored on January 17, 2022, 01:23:48 AM

I am sure in this loan section is only filled with people who borrow with high amount because the collateral is also has high value so there is no loan interest even though in just 7 days this is quite interesting, and it is very likely to attract many users to try it, as you said not only for gambling but also something urgent.

The NFT holders can borrow upto $10k without contacting support and above that they have to ask the team but can be approved.But it's not necessary they all will borrow big amounts only as they have said you can borrow it upto that amount and loan will be given according to your need.The interest free loan is of 7 days only and have to repay it within that time frame otherwise they will sell it.So be careful also and take loan if you can repay it timely.

10k is not really a small amount. I mean if we are talking about repayments, we need to look at how long it is given and not the interest rate all that much (surely interest rate is important too). So, let's assume that you are given a chance to pay in 2-3 years? That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.

In the next 2-3 years, almost all coins (not shitcoins) will have a 2x situation one day, that is something I really trust, that is why all of my investment is in crypto. Income part is very important because we need to also pay the debt back as well without dropping our coin count. So if you can handle that, you are going to be doing fine. It is still a very tough situation and you may lose all of your money AND the NFT you gave, but that is a risk that you take anyway.

aysg76

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Quote from: Strongkored on January 17, 2022, 01:23:48 AM

I am sure in this loan section is only filled with people who borrow with high amount because the collateral is also has high value so there is no loan interest even though in just 7 days this is quite interesting, and it is very likely to attract many users to try it, as you said not only for gambling but also something urgent.

The NFT holders can borrow upto $10k without contacting support and above that they have to ask the team but can be approved.But it's not necessary they all will borrow big amounts only as they have said you can borrow it upto that amount and loan will be given according to your need.The interest free loan is of 7 days only and have to repay it within that time frame otherwise they will sell it.So be careful also and take loan if you can repay it timely.

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Quote from: aysg76 on January 16, 2022, 06:36:31 AM

Quote from: lienfaye on January 15, 2022, 11:12:33 PM

Actually its not different if you borrow on banks or other lending companies. They will ask for collateral and its up to you whether you still want to pay the loan or give up the collateral as your payment, if you choose the latter then the company will benefited from it.

This new feature of Rollbit is meant for NFT holders, they can take advantage the offer if they're in need of money and repay it later on.

Its a good move for Rollbit because they can also help their gamblers (who are in need of money) by having their own 7 days NFT loans feature without fees and charge.

Good to see that players can get 7 days without interest loan if they are in need and that also upto $10k and above that you can contact support also for the same.This is some sort of emergency fund by the Rollbit to the players for short period of time like you can have it for any purpose and player's would be taking advantage of this loan features.

I am sure in this loan section is only filled with people who borrow with high amount because the collateral is also has high value so there is no loan interest even though in just 7 days this is quite interesting, and it is very likely to attract many users to try it, as you said not only for gambling but also something urgent.

worle1bm

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Quote from: dezoel on January 16, 2022, 03:47:28 PM

Quote from: worle1bm on January 16, 2022, 12:57:44 AM

We will see how they handle the default loan case and what precautions they take in that case but as they have already clearly mentioned in their loan blog how all this process will be handled the default case arising seems minimal to me.So they will not be in loss most probably.

They will probably never be in a loss, even if the loans are defaulted. I have seen way too many people do it even here, literally on bitcointalk, and manage to make some money from it over a year long period. So if regular people can do it here, then rollbit will definitely be able to do it as well. Plus, the NFT they are getting is their own, so they sold it and now they will sell it again so they know how much it can go for.

This means we are talking about a place that will end up with a much better return to the investment for them. If you are getting a 100 dollar worth of NFT which was paid 200 dollars by someone and give 50 dollar loan, then you know you are going to be in profit in the end.

That's what i was also saying that if they have came up with this loan feature then they must have thought how to handle the default loans as they have everything in mind.They will be selling out these NFT on the open market with same amount or holding it and gaining profits on them so it's no loss situation for the team.

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Quote from: worle1bm on January 16, 2022, 12:57:44 AM

We will see how they handle the default loan case and what precautions they take in that case but as they have already clearly mentioned in their loan blog how all this process will be handled the default case arising seems minimal to me.So they will not be in loss most probably.

They will probably never be in a loss, even if the loans are defaulted. I have seen way too many people do it even here, literally on bitcointalk, and manage to make some money from it over a year long period. So if regular people can do it here, then rollbit will definitely be able to do it as well. Plus, the NFT they are getting is their own, so they sold it and now they will sell it again so they know how much it can go for.

This means we are talking about a place that will end up with a much better return to the investment for them. If you are getting a 100 dollar worth of NFT which was paid 200 dollars by someone and give 50 dollar loan, then you know you are going to be in profit in the end.

aysg76

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Quote from: lienfaye on January 15, 2022, 11:12:33 PM

Actually its not different if you borrow on banks or other lending companies. They will ask for collateral and its up to you whether you still want to pay the loan or give up the collateral as your payment, if you choose the latter then the company will benefited from it.

This new feature of Rollbit is meant for NFT holders, they can take advantage the offer if they're in need of money and repay it later on.

Its a good move for Rollbit because they can also help their gamblers (who are in need of money) by having their own 7 days NFT loans feature without fees and charge.

Good to see that players can get 7 days without interest loan if they are in need and that also upto $10k and above that you can contact support also for the same.This is some sort of emergency fund by the Rollbit to the players for short period of time like you can have it for any purpose and player's would be taking advantage of this loan features.

worle1bm

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Quote from: bitbollo on January 15, 2022, 03:33:11 PM

interesting update, thanks for share...at least to me this sound as a "massive" update.
of course these are the rarest and valuable NFTs https://blog.rollbit.com/introducing-nft-loans/
but I would suggest also to evaluate other NFTs related crypto collectible (some items are sold with NFTs like Austrian crypto stamps) and generally speaking, why not at this point Roll Eyes

, evaluate the possibility to give a loan with some other crypto collectibles (coins or paintings).

This is not possible for now since NFT can’t still be consider as a collateral especially on other platform but since with Rollbit, they can control your account so if there’s a default loan they can easily run after you better not to take a loan if you don’t want to lose everything in instant. Rollbit will soon open this offer to other gamblers for sure, time can work on this.

We will see how they handle the default loan case and what precautions they take in that case but as they have already clearly mentioned in their loan blog how all this process will be handled the default case arising seems minimal to me.So they will not be in loss most probably.

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Quote from: aysg76 on January 15, 2022, 05:17:03 AM

Quote from: Johnyz on January 14, 2022, 03:42:19 PM

This may look attractive but I agree that you should know your limit and don’t borrow money for any gambling activities. Well, I hope Rollbit promotes good relationship with the gamblers considering this update, I hope they don’t encourage gamblers to borrow money that easily. This still a good update though and the first one for a crypto gambling site, such a good privilege for the holders of Rollbot.

You should never borrow if you are not in need of those amounts as this is great move from the Rollbit side but if you take undue advantage of it then it's completely wrong because in the end it will affect you adversely.You take a loan from the bank then can't repay it then they will sell your mortgage and claim that amount but who's responsible on this part? Think wisely and take advantage in postive direction.

Actually its not different if you borrow on banks or other lending companies. They will ask for collateral and its up to you whether you still want to pay the loan or give up the collateral as your payment, if you choose the latter then the company will benefited from it.

This new feature of Rollbit is meant for NFT holders, they can take advantage the offer if they're in need of money and repay it later on.

Its a good move for Rollbit because they can also help their gamblers (who are in need of money) by having their own 7 days NFT loans feature without fees and charge.

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interesting update, thanks for share...at least to me this sound as a "massive" update.
of course these are the rarest and valuable NFTs https://blog.rollbit.com/introducing-nft-loans/
but I would suggest also to evaluate other NFTs related crypto collectible (some items are sold with NFTs like Austrian crypto stamps) and generally speaking, why not at this point Roll Eyes

, evaluate the possibility to give a loan with some other crypto collectibles (coins or paintings).

Johnyz

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Quote from: aysg76 on January 15, 2022, 05:17:03 AM

Quote from: Johnyz on January 14, 2022, 03:42:19 PM

This may look attractive but I agree that you should know your limit and don’t borrow money for any gambling activities. Well, I hope Rollbit promotes good relationship with the gamblers considering this update, I hope they don’t encourage gamblers to borrow money that easily. This still a good update though and the first one for a crypto gambling site, such a good privilege for the holders of Rollbot.

You should never borrow if you are not in need of those amounts as this is great move from the Rollbit side but if you take undue advantage of it then it's completely wrong because in the end it will affect you adversely.You take a loan from the bank then can't repay it then they will sell your mortgage and claim that amount but who's responsible on this part? Think wisely and take advantage in postive direction.

Our choice, our responsibility and not because there’s an offer to us we should grab it, better to think first if that is necessary or not. Borrowing system with Rollbit hopefully to work well with other gamblers, since their NFT is at stake here I’m confident they can really control theirselves not to carried away by this good offers.

barbara44

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Quote from: worle1bm on January 15, 2022, 12:49:33 AM

The users can take loan upto $10k and if they want to go above that limit then they would need to contact the support team for approval.As said only few selected NFT are categorised which are eligible for this collateral loan.If the user don't repay it within 7 days then NFT would be sold out at same price or profit on marketplace so not loss situation for them.

I would definitely support something like this. In real life we take out a loan and if we can't repay it then bank repossess something that we own. Like you take out a mortgage but if you fail to pay it then they take away your house. That is how it works and that is why I believe that we should definitely be considering this as an option in NFT world or crypto world as well.

Decentralized finance allowed this to start a little bit, it is still "giving loans to people who have money" style, you give something and you take money for it and then you repay that and get your money back, in this case instead of money it is NFT, but there is still no system in place for people with either no money or little amount of money. Like with banks, you could have 200k, and get another 300k as a loan and buy a 500k worth house, crypto debt has not reached that level yet, hopefully it will find a way to do that.

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