Hi zazarb, great to see some interest in this topic and it's looks like your going to be the first btc loan provider on the great forum.I agree and ready to provide this service, only with altcoin as collateral.
regards
-zz
As I know account sales not allowed here, so bitcointalk account can not be valid collateral.Are account sales allowed here? (I don't see any reason why they are not, however I have not yet familiarized myself with the forum rules, so I though I would ask).
Even if they are not, I am sure that many lenders would accept bitcointalk.org accounts as collateral.
I am not sure if this would be needed as of yet, however I would not mind seeing a dedicated section for lending, that way lenders could create their own threads offering loans that borrowers could post on, and borrowers could create threads looking for loans, and anyone visiting that section would be able to see what is being offered.
Why would account not be allowed here? From what I can gather, this forum allows all sales except those that are explicitly illegal in it's jurisdiction.As I know account sales not allowed here, so bitcointalk account can not be valid collateral.Are account sales allowed here? (I don't see any reason why they are not, however I have not yet familiarized myself with the forum rules, so I though I would ask).
Even if they are not, I am sure that many lenders would accept bitcointalk.org accounts as collateral.
I am not sure if this would be needed as of yet, however I would not mind seeing a dedicated section for lending, that way lenders could create their own threads offering loans that borrowers could post on, and borrowers could create threads looking for loans, and anyone visiting that section would be able to see what is being offered.
You I know perfectly what passions are aroused in bitcointalk.org between their support for it and the opposing, and how it causes all sorts of problems.Why would account not be allowed here? From what I can gather, this forum allows all sales except those that are explicitly illegal in it's jurisdiction.As I know account sales not allowed here, so bitcointalk account can not be valid collateral.
Just create a new thread on this board and post in a similar format to this:I have a need for a BTC loan and I would like to apply.
How do we go about this ?
How do you use the collateral? Do you require the person asking for the loan to give you their username/password to their account?I still not start my service here, but you can more read about it : https://bitcointalk.org/index.php?topic=1161170.0
only one kind of collateral I accept is another crypto-currency, such as Litecoin, Dogecoin or other. Coins must be moderately traded on multiple exchanges and have some trade volume.How do you use the collateral? Do you require the person asking for the loan to give you their username/password to their account?I still not start my service here, but you can more read about it : https://bitcointalk.org/index.php?topic=1161170.0
Without that, an account is not much use as collateral if you can't access it. Also, accounts on here are pretty new so maybe aren't good for collateral.
How about other accounts like Twitter, FB, YouTube, etc? If so, again do you require login details?
Any other kind of collateral you suggest beside social media accounts?
So you're basically trading btc for an altcoin with a markup since your lending it, right?only one kind of collateral I accept is another crypto-currency, such as Litecoin, Dogecoin or other. Coins must be moderately traded on multiple exchanges and have some trade volume.How do you use the collateral? Do you require the person asking for the loan to give you their username/password to their account?
Without that, an account is not much use as collateral if you can't access it. Also, accounts on here are pretty new so maybe aren't good for collateral.
How about other accounts like Twitter, FB, YouTube, etc? If so, again do you require login details?
Any other kind of collateral you suggest beside social media accounts?
Account like Twitter, FB or other social-media can easily be recovered by social engineering and I not accept.
these are two different businesses trade and lending, Altcoin as collateral, for me is the easiest way to recover loan in default case .So you're basically trading btc for an altcoin with a markup since your lending it, right?
only one kind of collateral I accept is another crypto-currency, such as Litecoin, Dogecoin or other. Coins must be moderately traded on multiple exchanges and have some trade volume.
Account like Twitter, FB or other social-media can easily be recovered by social engineering and I not accept.
I wouldn't mind doing some lends on here but the right collateral must be in place. Not sure if alts are worth it, plus people who need to borrow might not even have alts in the first place to trade?
Most lenders will hold the altcoin as collateral for the loan (either directly or via an escrow agent) with the condition that if the value of the altcoin falls below a certain value/price that the lender has the right to sell such altcoin to cover the loan.So you're basically trading btc for an altcoin with a markup since your lending it, right?
only one kind of collateral I accept is another crypto-currency, such as Litecoin, Dogecoin or other. Coins must be moderately traded on multiple exchanges and have some trade volume.
Account like Twitter, FB or other social-media can easily be recovered by social engineering and I not accept.
I wouldn't mind doing some lends on here but the right collateral must be in place. Not sure if alts are worth it, plus people who need to borrow might not even have alts in the first place to trade?
Thanks, it's certainly an interesting business offer but not sure if any alts would have me interested enough to lend for alts. Maybe Litecoin since the are the biggest alt....Most lenders will hold the altcoin as collateral for the loan (either directly or via an escrow agent) with the condition that if the value of the altcoin falls below a certain value/price that the lender has the right to sell such altcoin to cover the loan.So you're basically trading btc for an altcoin with a markup since your lending it, right?
I wouldn't mind doing some lends on here but the right collateral must be in place. Not sure if alts are worth it, plus people who need to borrow might not even have alts in the first place to trade?
If the value of the altcoin does not fall, and if the borrower is to repay their loan, then the borrower would receive the collatera/altcoin back. The borrower is essentially betting that the value of their altcoin is going to increase in terms of BTC over the duration of the loan.
As long as the altcoin is stable, established and has sufficient trading volume then you should be protected. This criteria would mean that it would be likely to be able to sell the altcoin on an exchange in the event the borrower defaults.Thanks, it's certainly an interesting business offer but not sure if any alts would have me interested enough to lend for alts. Maybe Litecoin since the are the biggest alt....Most lenders will hold the altcoin as collateral for the loan (either directly or via an escrow agent) with the condition that if the value of the altcoin falls below a certain value/price that the lender has the right to sell such altcoin to cover the loan.
If the value of the altcoin does not fall, and if the borrower is to repay their loan, then the borrower would receive the collatera/altcoin back. The borrower is essentially betting that the value of their altcoin is going to increase in terms of BTC over the duration of the loan.
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