Topic: Small urgent loan required (0.08) (Read 649 times)
you must have collateral which worth more than amount you will borrow, your account doesnt worth it
I liked the title..
Small Loan 0.08 isnt it big for the account op hold?
Small Loan 0.08 isnt it big for the account op hold?
What is considered collateral?
Collateral is something that can easily be resold to cover the loan value plus interest should the loaner default on the loan.
- The best collateral is another crypto-currency, such as Litecoin (also written as LTC). Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.
- Small valuable items that can be shipped though the mail - i.e. gold, silver, iphones, etc.
- Large items, such as a motorcycle or guitar can be used if you live close to the person giving you the loan. Try localbitcoins.com
What is not considered collateral?
- Items not in hand. Don't trust a user that promises to give you something *when* they default! Tracking numbers only show something has been mailed - it could be an empty box.
- Future income. You can prove you'll make xx coins in the next few days, but nothing forces you to send those coins to pay your debt.
- Identification. So what if they can prove who they are. Are you going to spend more money and time taking them to court on untested legal grounds? You'll probably just walk away, like everyone does. ID is useless.
- Games codes or similar. To verify the collateral you need to use the code, which destroys the collateral. Consider this a purchase, not a loan. (Post in Digital Goods instead)
- Most new alt-coins or alt-coins that trade for satoshis are not good collateral as they can become worthless overnight.
- Paypal should never be used - they are anti-bitcoin and will rule against you 100% of the time. Escrow can't even help, as paypal charge backs can come over 6 months later!
- Most valuable online accounts can easily be recovered by social engineering (the user contacting support to say they were hacked, and regain control of the account) Examples: Steam
Collateral is something that can easily be resold to cover the loan value plus interest should the loaner default on the loan.
- The best collateral is another crypto-currency, such as Litecoin (also written as LTC). Coins must be moderately traded on multiple exchanges.
- Some digital wares such as domain names can be considered as long as the user cannot recover it.
- Small valuable items that can be shipped though the mail - i.e. gold, silver, iphones, etc.
- Large items, such as a motorcycle or guitar can be used if you live close to the person giving you the loan. Try localbitcoins.com
What is not considered collateral?
- Items not in hand. Don't trust a user that promises to give you something *when* they default! Tracking numbers only show something has been mailed - it could be an empty box.
- Future income. You can prove you'll make xx coins in the next few days, but nothing forces you to send those coins to pay your debt.
- Identification. So what if they can prove who they are. Are you going to spend more money and time taking them to court on untested legal grounds? You'll probably just walk away, like everyone does. ID is useless.
- Games codes or similar. To verify the collateral you need to use the code, which destroys the collateral. Consider this a purchase, not a loan. (Post in Digital Goods instead)
- Most new alt-coins or alt-coins that trade for satoshis are not good collateral as they can become worthless overnight.
- Paypal should never be used - they are anti-bitcoin and will rule against you 100% of the time. Escrow can't even help, as paypal charge backs can come over 6 months later!
- Most valuable online accounts can easily be recovered by social engineering (the user contacting support to say they were hacked, and regain control of the account) Examples: Steam
Here is a list of what is a valid and what is not for a collateral. If you have alt coins or bitgold you can use that.
Sorry bro but your promise of quick repayment is not considered as an assurance that you will pay.
I understand the urgency of your loan request but I doubt someine will lend yiu that amount because you have't really established yourself as a trustablw person in here.
I am with different hosting provider, but they have the same ability
I am happy to do that and will do it now if required, I need a lender to get on board and facilitate the loan then.
I am happy to do that and will do it now if required, I need a lender to get on board and facilitate the loan then.
I have a domain I can put up as collateral, largely worth the amount requested
hellosatoshi.com
got that from reading your reply btw so thanks
hellosatoshi.com
got that from reading your reply btw so thanks
What domain provider do you use? Namecheap and (I believe) GoDaddy both allow free domain name pushing between accounts within each site (NC to NC accounts, and GD to GD). You're going to have to push the domain to the loaner in order for them to accept it as collateral.
I have a domain I can put up as collateral, largely worth the amount requested
hellosatoshi.com
got that from reading your reply btw so thanks
hellosatoshi.com
got that from reading your reply btw so thanks
give me an example of simple collateral vs what is being asked
I'm not quite sure what you mean by "simple collateral" and "what is being asked". But what I can do is point you to this awesome thread, and pay attention to the second post in that thread.
give me an example of simple collateral vs what is being asked
Sorry, but regardless of if your loan is for paying someone to clean your shoes or to help pay for your dog's vet visit, you will need collateral.
Like KWH often says... "In Collateral We Trust".
Like KWH often says... "In Collateral We Trust".
Hi there,
As stated, It's seriousness for me personally is truly important, I don't have collateral but can provide quick repayment:
Amount - 0.08 BTC
Required by - Now
Reason - Emergency
Collateral - None(this acc but don't think it's worth that)
Repay by - 6 Nov 2015
Amount repaid - 0.0912 (14% interest)
BTC Address - 1LKhtaZN5WnQnHzhNppma54gjXTFoVX4ZK
Honestly, no motives or plans to waste people's time or money, nor default, it's serious enough for me, repayment is early, you're help would be very much appreciated, really!
Cheers
Zulu
As stated, It's seriousness for me personally is truly important, I don't have collateral but can provide quick repayment:
Amount - 0.08 BTC
Required by - Now
Reason - Emergency
Collateral - None(this acc but don't think it's worth that)
Repay by - 6 Nov 2015
Amount repaid - 0.0912 (14% interest)
BTC Address - 1LKhtaZN5WnQnHzhNppma54gjXTFoVX4ZK
Honestly, no motives or plans to waste people's time or money, nor default, it's serious enough for me, repayment is early, you're help would be very much appreciated, really!
Cheers
Zulu
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