I used to take collateral, which was access to an account with at least the value of the loan on it. I got it in writing from the loanee that if they didn't pay me back, I was authorized to take the money off the account. Via selling ships if necessary.
It only became necessary once, and I took the remaining loan principal, plus the interest I was owed, and deleted my access to the account.
But when /movechar became an option, I closed down my loan service. I'm kinda working on a way of getting back into it, but we shall see.
Also, bounties are completely ineffectual and kinda pointless as they don't cost the bountee anything even if they get blown up.
' Wrote:I don't see anything wrong with loan scamming, it seems just as viable a way of ripping people off as pirating.
Well considering loans on GC are normally about 200 million, I really do have a problem with somebody who would do that. They may only be pixels, but those pixels take a significant investment of time to earn, which a lot of us are short of with work and stuff. Besides, who would pirate somebody for an extortionate sum like that anyway?
That being said, their fault for loaning out cash at all. The most I've lent out is about 10 million, plenty enough to get a good tradeship and earn the cash themselves like I have done, only starting with a flea.
Actually, I -have- lent out a mastodon to a "good friend" on Disco GC; I never saw it again. It's more the in real-life promise being made and then broken which makes loan scammers bad. Not as players, just as people.
