Quote from: waterpile on September 28, 2014, 11:07:53 PM

Quote from: applesauce92 on September 28, 2014, 01:44:14 PM

Updated a bit - i'd be borrowing up to 2 BTC, first bitcoin returned within 48 hours at the 25% rate, second within a week at a 20% rate

If you'd like me to make a blood oath and put it on youtube or give you every bit of financial proof I have I'm willing to do it.

no one will provide this loan but if you provide a good collateral its another story.

I noticed that - but honestly I just don't understand why this community is so focused on collateral. There are very easy ways to verify lenders ability to repay. I understand that's how it is- but I just was sorta surprised I could walk into a bank and get $100,000 dollars in unsecured credit and manage perfect payment history for nearly a decade, have an 800+ FICO but yet I'm less likely to pay back than someone who gives collateral in "cannabis coin". I've asked for less than $1,000 dollars in BTC. I mean I understand people don't want to be scammed. But there has to be a better way to do this. How is a persons history of borrowing and repayment considered unreliable when it's the basis for our entire economy?

BTC as a principle prides itself on the basis in its technology and finality. That's also what personal responsibility is, and in regards to finance I've demonstrated that as best possible and was offering almost my entire life just so I wouldn't disappoint my customers. I was literally willing to pay 25% interest when my credit history should get me a 4% rate max. However because I don't have as many forum posts or .01 BTC trades im likely a scammer. I just want there to be a better way for people who have more proof in financial responsibility than forum posts to be treated fairly.

Really the concept of BTCJam is great if it actually requested and reported to credit bureaus. Obviously this is different internationally - but if mom and pops renting houses can check and report to bureaus, there surely can be a group that does that with BTC. I know this seems like a rant - but it really frustrated me to see what seemed such an inefficient means of lending. Really i see people offering up noname derivatives of BTC and that takes more credence over a Passsport scan, credit report, bank statement, signed promissory note, proof of residence and paypal invoice....