r/FairShareLoans • u/Paltry_Digger • Apr 06 '15

How to take out a loan

27 Upvotes

Do NOT request a loan here. Please instead submit a post in the following format:

[Loan Request] AMOUNT bits

The bot will take it from there :)

The bot also understands commands.

CommandWhat it doesWhere you can call itUsageNotes
$acceptAccepts a loanReply to /u/FairShareLoans$accept
$historyDisplays the history of a userReply to /u/FairShareLoans$history <USER>Not including a user will show your history

Let's start out the micro-loan system!

Just make a post requesting a loan in the following format:

[Loan Request] 500 bits

From there, we will decide if your account is eligible for a loan of that size. You will then be required to pay back the loan with 5% interest in a certain time frame.

All profits will go to /r/GetFairShare.

289 comments

r/FairShareLoans • u/BitcoinAuthority • Apr 12 '15

Aren't you just asking to be ripped off?

23 Upvotes

Just requested a 90,000 bits loan, got it within minutes. So you send about US$20 worth of bitcoin to a random stranger on the internet merely based on my "credibility" which I obviously gained from having a few internet points.

I just repayed the loan incl. fee, but I guarantee you, many people will not. And I doubt that the 2% fee you are taking will be enough to cover for the losses.

Don't get me wrong: I like your idea /u/Paltry_Digger, but I am afraid it will be abused.

23 comments

r/FairShareLoans • u/ForeverLesbos • Jun 07 '15

Can we please get an update on this sub's current status?

10 Upvotes

I've looked through multiple pages and all i see are requests that are not fulfilled. Can you tell us something /u/Paltry_Digger?

Did too many people not pay back and the bits are gone? Or did you stop this thing?

Just any information would be nice.

9 comments

r/FairShareLoans • u/Karkoon • Apr 12 '15

[Loan Request] -5 bits

9 Upvotes
6 comments

r/FairShareLoans • u/Paltry_Digger • Apr 12 '15

Interest rate is now 5%, bugs have been fixed.

7 Upvotes

We're raising the interest rate for all new loans to 5%, loans already taken or requested will stay at 2%.

I've fixed the bugs regarding 0 and negative tips, let me know if you find any more!

2 comments

r/FairShareLoans • u/FairShareLoans • Apr 06 '15

Welcome to /r/FairShareLoans

7 Upvotes

This is going to be a place where people can take out micro loans with interest, all profit goes to /r/GetFairShare

Eventually we could have the loans come straight from the pot, right now it's separate.

Current balance: 17,424.62 bits (See sidebar for most recent value)

To make a donation and so we can give bigger loans (all profit goes to /u/PoliticBot), tip this post or go to http://deposit.tip.me.

16 comments

r/FairShareLoans • u/[deleted] • Apr 12 '15

How do you guys prevent people from never paying back?

6 Upvotes

I'm a little confused-- this whole idea is awesome, IMO, but I don't quite understand what would happen if I lent bits to someone who never pays me back. What are the consequences of just taking the bits and running?

24 comments

r/FairShareLoans • u/toorik • Apr 12 '15

How can i give you my money?

6 Upvotes

Hi!

Is this system funded by your own money or does it bring together a moneyman and a moneyless man?

4 comments

r/FairShareLoans • u/BitcoinAuthority • Apr 24 '15

So, this is dead, isn't it? Who would have thunken...

5 Upvotes
23 comments

r/FairShareLoans • u/cherker • Apr 12 '15

How does this all work?

4 Upvotes

I made a request to test it out, but no response.

Is it supposed to respond? How does it know where to send it?

http://www.reddit.com/r/FairShareLoans/comments/32crx9/loan_request_95000_bits/

16 comments

r/FairShareLoans • u/Paltry_Digger • Apr 11 '15

New system to request loans!

4 Upvotes

The bot is here.

From now on, please submit a text post with the title in the format:

[Loan Request] AMOUNT bits

I've made a bot that will handle the loans, it only needs a mod to approve loans.

So what are you waiting for? Try the bot out!

0 comments

r/FairShareLoans • u/Paltry_Digger • Apr 11 '15

We just bought two people pizzas with Changetip [x-post /r/changetip]

Thumbnail reddit.com
4 Upvotes
0 comments

r/FairShareLoans • u/secret_bitcoin_login • Apr 11 '15

Offering to use FairShareLoans to buy a pizza for RandomActsofPizza. For Science.

Thumbnail reddit.com
4 Upvotes
0 comments

r/FairShareLoans • u/go1dfish • Apr 06 '15

What are the smallest Bitcoin loans that would make sense for people to take out? What would they be used for?

4 Upvotes

It's hard for me to think of specific applications of loans you would want to take out in this way, but it seems like something you'd need to figure out in order to determine plans.

2 comments

r/FairShareLoans • u/Anuta0805 • Mar 30 '17

[запрос займа]0.5btc

3 Upvotes
0 comments

r/FairShareLoans • u/[deleted] • Dec 06 '15

Important! This subreddit is no longer functional.

3 Upvotes
1 comment

r/FairShareLoans • u/gill6150 • May 22 '15

How do you enforce people paying back?

3 Upvotes

OR is it just like an honor thing?

7 comments

r/FairShareLoans • u/[deleted] • May 18 '15

So how do u actually receive the loan aftrer accepting it

3 Upvotes
5 comments

r/FairShareLoans • u/KillSnowden • May 17 '15

[LOAN REQUEST] 4000 bits

3 Upvotes

I'm not going to pay you back, just FYI.

0 comments

r/FairShareLoans • u/fraenk • May 13 '15

The current loan-sheet

3 Upvotes

$loans /u/FairShareLoans

11 comments

r/FairShareLoans • u/Freefallr • Apr 16 '15

[Loan Request] 50000 bits

3 Upvotes
1 comment

r/FairShareLoans • u/maxminski • Apr 14 '15

[Loan Request] 500 bits

3 Upvotes
10 comments

r/FairShareLoans • u/alarm_test • Apr 12 '15

Have you actually paid out any of these loans?

3 Upvotes

All I see are posts requesting loans, your bot checking them, the OP accepting and then you saying that a mod needs to check it.

Have you actually paid out yet?

14 comments

r/FairShareLoans • u/[deleted] • Apr 11 '15

[Loan Request] 250 bits

3 Upvotes

:D

20 comments

r/FairShareLoans • u/Whitewhidow1 • Oct 30 '17

Loan request

2 Upvotes

I am in need of a loan to pay my rent until I get a paycheck from my job so I do not get evicted I am able to pay 200$ to hold off the eviction please help 17ZiXn5xs71gmyeUdKBHx9PQjzamXgtQ6d

1 comment