I know that people give out loans but what's up with people no returning what they borrowed?? I want to know this because I might give out loans myself and I want to know what to watch out for... I have ~800 BTC at the moment and would it be a bad idea to start loaning? I bought my BTC back in 2010 mid August January(when it was about $0.07 per BTC) and I noticed the price went up a ton! Also what would be some other way to grow my BTC? Any ideas on what I should do?
Something I should have added my friend was doing something you guys call "mining" I am very knew to the bitcoin world even though I have had them for a long time. I bought these bitcoin from him because he needed to sell them, my financial advisor has told me that the longer I wait the more return I would get so I told him hold the account for 5 years and ill see where I am... So last July I had gotten my account back, did a bunch of research then found you guys. So I came here to post a few posts and for everyone skeptical this is the proof
https://gyazo.com/ee99cef712e9b72f03a3e8e870c33624 I also agree that loans are very risky because there are people who are not paying their debts so i prefer on holding my coin more than allowing other people to take my profit. I will be only allowing the people to get a loan on me if they are part of my family because they will surely pay back.
There is always a proper management when lending money, always know the risk so you can make appropriate actions to be profitable.
I know online lending is hard since you cannot require a solid collateral that you can sell or liquidate the moment your borrowed failed to pay but
with high interest and short term loan, it can help you.