Topic: This is why Bitcoin P2P lending is dead. (Read 4512 times)
Giving a loan to someone is a very risky without collatera and escrow. People tends to lend some, provide valid id though still lack of documents required from a borrower. Its still they will not pay, mostly they will scam and run.
I remember when BTCJam was a thing. I gave up because all it is is a way for scammers to get free BTC. Nothing happens to them so they just default and run with your precious BTC.
The moral of the story is, never lend, sell, give, anything with your BTC. Just hold it.
The moral of the story is, never lend, sell, give, anything with your BTC. Just hold it.
P2P is a nightmare. There is no possible way that anyone could ever convince me to loan money to a stranger and HOPE that I get it back. For that matter, i wont even loan money to friends. It's usually a friendship killer when you dont get paid back.
P2P lending is great system but like many other good things it sometimes get abused. That doesn't mean we have to blaim P2P but try to improve things to put scams and other bad things on minimal level. I beleive that many people want to borrow coins with honest intention so we don't have to blaim them all.
You gave away pretty much untraceable cash to strangers over the internet, and you're surprised no one paid you back?
I would never use this p2p lending, so many scammers there, if they don't give real collaterals, i can't trust them online. Bitcoin world is a wild west
This is so true, never understimate others they would definitely do to scam
people. For me Ill never use this P2p lending, I suggest before careful in
anything that you have plan with your money.
I see donations here 
Showing pile of RED really hurts too much because those mean is a money lost. Loaning business or investment is really risky especially if you don't ask for collateral because anyone could ran and don't intend to pay their debts since they don't risk anything from you. TO be safe and lessen the risk always ask for collateral because if they will ran atleast you hold somethings exchange for their loans.
Showing pile of RED really hurts too much because those mean is a money lost. Loaning business or investment is really risky especially if you don't ask for collateral because anyone could ran and don't intend to pay their debts since they don't risk anything from you. TO be safe and lessen the risk always ask for collateral because if they will ran atleast you hold somethings exchange for their loans. 
I was shocked when i saw the first 4 pages. lol. You cant really afford to continue even more on those more pages left because for sure its still red. Sameas others said here, thats not a loan its a giveaway and those amounts when you pile it up it would sure be some bitcoin. YOu shousl really ask for collateral because giving loan to everyone without collateral would be really risky because anytime they could not able to repay those loan which is a total loss for you.
You just threw your coins away dude.
Lending? Sorry however this looks more like a giveaway
None lend without colateral... You knew the riskys OP
Of course, lending without collateral is like you are just giving away the money beacuse not everybody is trustworthy and even the trustworthy ones may have some difficult in repaying back due to his typical circumstances, should that happen the only option for you to get back what you have offered is to sell off the collateral. None lend without colateral... You knew the riskys OP
Hence, without colateral is like you are a father Christmas.
That's why the collateral has been created. It enables trustless P2P lending, since if you don't get reimbursed, that's not a problem.
Nobody takes loans without collateral seriously anymore, the risk is just too great even with a market being present but people not ready to repay is just too much of the total people taking loans, You can't do anything with there documents anyway if you can't sue them..
Agree. If you lend there must be a collateral otherwise you can say bye bye to your money.
Nobody takes loans without collateral seriously anymore, the risk is just too great even with a market being present but people not ready to repay is just too much of the total people taking loans, You can't do anything with there documents anyway if you can't sue them..
Yes you are right. The collection of documents is useless and pointless. Don't know what these loan sites are thinking.
On top all that, it's not too hard to fake a lot of the required documents. Collateral or nothing.
If you want to be successful in this lending business then it is simple you should accept the collateral which you can liquidate easily and don't ever accept the collateral which you feel have a difficult to sell off if a borrower doesn't return your money. Don't believe in any document verification process and lend money because it is your money so you should own the collateral, not by some third party.
Nobody takes loans without collateral seriously anymore, the risk is just too great even with a market being present but people not ready to repay is just too much of the total people taking loans, You can't do anything with there documents anyway if you can't sue them..
Yes you are right. The collection of documents is useless and pointless. Don't know what these loan sites are thinking.
On top all that, it's not too hard to fake a lot of the required documents. Collateral or nothing.
Lending? Sorry however this looks more like a giveaway
None lend without colateral... You knew the riskys OP
Nobody takes loans without collateral seriously anymore, the risk is just too great even with a market being present but people not ready to repay is just too much of the total people taking loans, You can't do anything with there documents anyway if you can't sue them..
Yes you are right. The collection of documents is useless and pointless. Don't know what these loan sites are thinking.
On top all that, it's not too hard to fake a lot of the required documents. Collateral or nothing.
Online p2p worldwide loans are very risky business and especially if you are using bitcoin where privacy is protected highly. If you would make online loans in your local country than it will be very good idea and it will help bitcoin to be more known.
I never invest in bitcoin p2p lending websites because I can't trust person which I don't know and I don't have any chance to get money from him/her, so this is the reason why bitcoin p2p lending is dead.
In the past i believe those which joined and use bitcoin were all honest people with money invested into bitcoin, or time invested, but well i doubt someone will burn 50 dollars for funny, i didnt see any ponzis related to bitcoin in that moment, but i knew as the people were able to cashout the repayment could be done or not, soo i tryed and im happy that i had roi and lost a lot coins into those system, btcjam its a nightmare, and those project shouldnt be running that way. I never invest in bitcoin p2p lending websites because I can't trust person which I don't know and I don't have any chance to get money from him/her, so this is the reason why bitcoin p2p lending is dead.
Online p2p worldwide loans are very risky business and especially if you are using bitcoin where privacy is protected highly. If you would make online loans in your local country than it will be very good idea and it will help bitcoin to be more known.
I never invest in bitcoin p2p lending websites because I can't trust person which I don't know and I don't have any chance to get money from him/her, so this is the reason why bitcoin p2p lending is dead.
I never invest in bitcoin p2p lending websites because I can't trust person which I don't know and I don't have any chance to get money from him/her, so this is the reason why bitcoin p2p lending is dead.
COLLATERAL!!
You cannot enforce international bitcoin loans. That is why you must take collateral for it. If you are stupid enough to give your money away to international strangers without any guarantee, then you deserve to lose them.
You cannot enforce international bitcoin loans. That is why you must take collateral for it. If you are stupid enough to give your money away to international strangers without any guarantee, then you deserve to lose them.
Nobody takes loans without collateral seriously anymore, the risk is just too great even with a market being present but people not ready to repay is just too much of the total people taking loans, You can't do anything with there documents anyway if you can't sue them..
Yes you are right. The collection of documents is useless and pointless. Don't know what these loan sites are thinking.
Nobody takes loans without collateral seriously anymore, the risk is just too great even with a market being present but people not ready to repay is just too much of the total people taking loans, You can't do anything with there documents anyway if you can't sue them..
Agree. If you lend there must be a collateral otherwise you can say bye bye to your money.
don't forget that a collateral must also be "valid" because i have seen that some people just went for the collateral just for the name of it and they receive a worthless thing in return and they can never sell it and the guy defaults the loan too.
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