Make $400 per month on Reddit

info. appreciated thank you so much though the transaction is risky.............
 
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Dotte said:
I did some research on the site - not impressed. OP is just a sketch BTW, talking completely out of his ass and probably trying to gain some reputation by pretending he found some great new method. In reality, I doubt he has made a dime on this site.

Out of all the loans I looked at on r/borrow almost none were paid back with interest. This is a high risk zero reward method that will put you in contact with the dregs of society. don't waste your time unless you are rich and feel like doing charity.
Click to expand...

Are you sure you aren't visiting wrong sub-reddit? There are plenty of copycats.
 
mirrorer said:
Yes but they are to big to fail...
Big banks get fined all the time ...but guess what? Nobody goes to jail and they make more than what they get fined :p Google it and you will find plenty of case,every year in the billion dollar range fines. :D
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Yeah I know they get fined. They also get sued. I'm waiting on an overdraft fee class action lawsuit settlement check from Bank of America as we speak. It's the third one I've received from them within the last 5 years. But that hasn't stopped them from stealing from people.

I see this Reddit idea as a clever way to get around banks schemes. No need to jump through BofA hoops anymore. You can just get on Reddit and get your money now! This is even better than payday loans.

Maybe I should start a Reddit Borrow journey thread! :D
 
Dotte said:
I did some research on the site - not impressed. OP is just a sketch BTW, talking completely out of his ass and probably trying to gain some reputation by pretending he found some great new method. In reality, I doubt he has made a dime on this site.

Out of all the loans I looked at on r/borrow almost none were paid back with interest. This is a high risk zero reward method that will put you in contact with the dregs of society. don't waste your time unless you are rich and feel like doing charity.
Click to expand...

Which site are you looking at? All I see are Paid, Completed, and REQ. I don't see any unpaid ones.

The ones that have not been paid are ones that just received their money within the last 24 hours. Their due date has not come yet.
 
PetalumaFlower said:
Which site are you looking at? All I see are Paid, Completed, and REQ. I don't see any unpaid ones.

The ones that have not been paid are ones that just received their money within the last 24 hours. Their due date has not come yet.
Click to expand...
They have been paid.. but its the exact same sum that was loaned. No interest.
 
For those of you saying P2P lending is illegal, it isn't in the US.

http://time.com/4289633/p2p-peer-peer-startups/

It's got problems, but it's not illegal to lend money to your peers. In fact, if Wikipedia is to be believed (lmao) some states treat P2P lending as an investment. Other states regulate the interest rates, etc.

Here's a map of states that allow P2P lending (the biggest P2P lending websites are allowed to operate there):

http://www.lendingmemo.com/lending-club-and-prosper-states/

Of course it's high risk, because it's a loan and you don't know if the person is going to pay you back or not. However, it's not really any different than selling stuff online. You can sell someone a service or a product and they can do a charge back for it after you deliver.

Not seeing a problem here other than people just not liking the method. Which is fine. You don't have to like it. I wouldn't do it, but it's not my time or money. If you want to do it, more power to you.
 
alwaysinvisible said:
For those of you saying P2P lending is illegal, it isn't in the US.

http://time.com/4289633/p2p-peer-peer-startups/

It's got problems, but it's not illegal to lend money to your peers. In fact, if Wikipedia is to be believed (lmao) some states treat P2P lending as an investment. Other states regulate the interest rates, etc.

Here's a map of states that allow P2P lending (the biggest P2P lending websites are allowed to operate there):

http://www.lendingmemo.com/lending-club-and-prosper-states/

Of course it's high risk, because it's a loan and you don't know if the person is going to pay you back or not. However, it's not really any different than selling stuff online. You can sell someone a service or a product and they can do a charge back for it after you deliver.

Not seeing a problem here other than people just not liking the method. Which is fine. You don't have to like it. I wouldn't do it, but it's not my time or money. If you want to do it, more power to you.
Click to expand...
This is what i was saying but everyone kept arguing with me so i deleted my post lol.
This is no different than loaning money to your bro.

Plus if it was illegal reddit would have shut it down.
 
CialisBilligInternet said:
Should of titled this how to be a loan shark.
Click to expand...
If It works i'll be a loan shark all day every day. The potential returns are astronomical. 20% a month is double what I get in a year of stock investing.

Only problem is the whole thing is sketch and no one is willing to answer a direct question.
 
mirrorer said:
Dude.
Wake up. Technically you're acting as an financial institution/bank.The regulators will rape your a** if you get caught.

They may not go after such small amounts but they do it once in a while to scare the mass,just like Google algos :p
Click to expand...
I don´t think so too. It is perfectly fine in Europe specially in eastern Europe where this is an everyday routine and a lot of people are making a living out of it and tried it my self with thousands going through my bank account a few years ago and no problem. If you do that through paypal I don´t see how they can get you. Even better in cash personally ;) US is a different strory though = too many restrictions, too many regulations and too much bullshit.
 
Its definitely illegal in the UK, you need to register with the FCA, can't charge more than 0.8% interest per day either.

Like the method though
 
I would not be surprised if the business model here is:
1. Tell people they should be lending money to strangers on reddit who APPEAR to have borrowed before.
2. Build reddit profiles that have returned a few loans to your other reddit profiles.
3. Use them to get "loans" from the new crop of gullible lenders dreaming of getting their money back with interest.

Is this doable? Sure. Is OP who was contemplating stealing from their first employer trying to do that or doing that? Who knows, but I wouldn't lend them money for sure!
 
Bleght said:
I would not be surprised if the business model here is:
1. Tell people they should be lending money to strangers on reddit who APPEAR to have borrowed before.
2. Build reddit profiles that have returned a few loans to your other reddit profiles.
3. Use them to get "loans" from the new crop of gullible lenders dreaming of getting their money back with interest.

Is this doable? Sure. Is OP who was contemplating stealing from their first employer trying to do that or doing that? Who knows, but I wouldn't lend them money for sure!
Click to expand...
Exactly my impression of the guy.
 
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