Peer to Peer lending and Coronavirus

[_V_]

Anyone thinking that this form of investment is going to see a steep rise in defaults and much lower returns because of the fact that everyone will be either ill, dead, or at home on sick pay in the coming months?

I'm thinking of selling out all my loans now. Good idea or idiotic?

[GhostofTarbera]

Idiot


Sent from my iPhone using Contractor UK Forum

[_V_]

Idiot


Sent from my iPhone using Contractor UK Forum

That's one vote for idiot duly noted.

[scooterscot]

Ripio Credit Network

This project is a recommend idea from a subscription of mine for peer-to-peer lending. Seems to be popular in south America at the moment, which is interesting given the collapsed economies of Argentina and Venezuela. People are lending to them from all over the world. Borrowers have to give up collateral, which is held on the blockchain until the contract is honoured.

https://Venezuela.network/

[_V_]

This project is a recommend idea from a subscription of mine for peer-to-peer lending. Seems to be popular in south America at the moment, which is interesting given the collapsed economies of Argentina and Venezuela. People are lending to them from all over the world. Borrowers have to give up collateral, which is held on the blockchain until the contract is honoured.

https://Venezuela.network/

Really not interested in this kind of "investment" thankyou.

[scooterscot]

The making money kind? Then head over to the AMD thread

[GJABS]

My opinion is that peer to peer lending is inherently dodgy because the people who administer the schemes (credit-check the borrowers etc) aren't the ones who have their capital at risk. Lending is bad enough even when done by banks etc who do have their capital at risk.

So yes I'd advise you to sell out even without coronavirus.

[AtW]

This project is a recommend idea from a subscription of mine for peer-to-peer lending. Seems to be popular in south America at the moment, which is interesting given the collapsed economies of Argentina and Venezuela. People are lending to them from all over the world. Borrowers have to give up collateral, which is held on the blockchain until the contract is honoured.

https://Venezuela.network/

Violating US sanctions, eh?

[scooterscot]

My opinion is that peer to peer lending is inherently dodgy because the people who administer the schemes (credit-check the borrowers etc) aren't the ones who have their capital at risk. Lending is bad enough even when done by banks etc who do have their capital at risk.

So yes I'd advise you to sell out even without coronavirus.

Gwd I've never heard a better justification for the use of blockchain.

[scooterscot]

Violating US sanctions, eh?

Yeah. Fook em.