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View Full Version : Anyone do P2P leanding? (Peer to Peer)


cx3
2-11-13, 2:36pm
Just read a post over on MMM about P2P lending.He is doing it as an experiment,but his returns so far are impressive.The comments were very good also.Only 28 states currently allow this. My state(Indiana)not being one of them.Comments suggested that P2P should be nationwide soon,however.I like the idea of putting my money to work by directly helping someone instead of helping some of the too big to fail corporations.
So is anyone here doing P2P lending? Lending Club and Prosper seem to be the two big players here in the states.
ToomuchStuff
2-12-13, 3:15am
I knew we just had a discussion about this, in the last few months and found it:

http://www.simplelivingforum.net/showthread.php?6507-Investing-in-micro-P2P-loans
kitten
2-13-13, 5:07pm
Does this have something to do with the alternative bitcoin currency? I just read an essay about it in the Best American Essays 2012 - I'm fascinated - just wish I understood it better.
ToomuchStuff
2-14-13, 12:52pm
Does this have something to do with the alternative bitcoin currency? I just read an essay about it in the Best American Essays 2012 - I'm fascinated - just wish I understood it better.


No, bitcoin is non existent currency. Electronic vaporware effectively. This is a similar concept to what someone started to help poor people in third world countries. That is called Kiva (http://www.kiva.org/start) where people can and do loan little amounts from their credit cards to microbusinesses in third world countries (say you wanted to buy a bicycle for delivering).
This is loaning someone in this country money (your being the bank) and hoping you get paid back.
kitten
2-21-13, 12:48pm
Thanks for the clarification :)


No, bitcoin is non existent currency. Electronic vaporware effectively. This is a similar concept to what someone started to help poor people in third world countries. That is called Kiva (http://www.kiva.org/start) where people can and do loan little amounts from their credit cards to microbusinesses in third world countries (say you wanted to buy a bicycle for delivering).
This is loaning someone in this country money (your being the bank) and hoping you get paid back.