Quote from: DaveF on January 14, 2025, 04:46:45 PM

Quote from: DireWolfM14 on January 14, 2025, 01:54:00 PM

I like that you signed a message using an address that has some bitcoin in it, even if it is a small amount. You're only offering small loans so, that's not a big deal.

But, you seem to only offer collateral loans which brings up the question: Who's holding the collateral?

The do offer non collateral

Quote

- Higher rates (10%) apply to loans without collateral, reserved for highly trusted users.

And

Quote

- Escrow can be requested by the borrower, but costs are their responsibility. A dedicated escrow system will be introduced soon.

Not putting words in their mouth but sound like the person borrowing would choose the person to hold the collateral but their fees have to be paid by the person borrowing the money.

The issue with that is since they are starting with small loans only (max $100) even paying the person doing the escrow $5 is really just adding 5% onto the loan.

Decent rates, but I can see the low limit being an issue.

-Dave

I apologize for the delayed response. Regarding the escrow system, I’ve already addressed this in a previous post. If someone wishes to use an external escrow service, I’m completely fine with it, provided the service is reliable. However, I won’t recommend any specific provider.

I’m currently in the process of finalizing an internal escrow system. Once it’s complete, I’ll present it to you and welcome your feedback and suggestions.

As for the $100 limit, I understand it’s a modest amount, but I’m just starting out, and this is essentially a “test” phase for me. Before moving on to larger sums, I prefer to proceed cautiously.

Over the past few months, I’ve been monitoring similar threads to refine my project, and I noticed requests for $50, $70, or $100 loans were fairly common. From your perspective, considering the requirement for collateral, these amounts aren’t excessive for either party