Comments (4779)
Good to see that players can get 7 days without interest loan if they are in need and that also upto $10k and above that you can contact support also for the same.This is some sort of emergency fund by the Rollbit to the players for short period of time like you can have it for any purpose and player's would be taking advantage of this loan features.Actually its not different if you borrow on banks or other lending companies. They will ask for collateral and its up to you whether you still want to pay the loan or give up the collateral as your payment, if you choose the latter then the company will benefited from it.
This new feature of Rollbit is meant for NFT holders, they can take advantage the offer if they're in need of money and repay it later on.
Its a good move for Rollbit because they can also help their gamblers (who are in need of money) by having their own 7 days NFT loans feature without fees and charge.
They will probably never be in a loss, even if the loans are defaulted. I have seen way too many people do it even here, literally on bitcointalk, and manage to make some money from it over a year long period. So if regular people can do it here, then rollbit will definitely be able to do it as well. Plus, the NFT they are getting is their own, so they sold it and now they will sell it again so they know how much it can go for.We will see how they handle the default loan case and what precautions they take in that case but as they have already clearly mentioned in their loan blog how all this process will be handled the default case arising seems minimal to me.So they will not be in loss most probably.
This means we are talking about a place that will end up with a much better return to the investment for them. If you are getting a 100 dollar worth of NFT which was paid 200 dollars by someone and give 50 dollar loan, then you know you are going to be in profit in the end.
That's what i was also saying that if they have came up with this loan feature then they must have thought how to handle the default loans as they have everything in mind.They will be selling out these NFT on the open market with same amount or holding it and gaining profits on them so it's no loss situation for the team.They will probably never be in a loss, even if the loans are defaulted. I have seen way too many people do it even here, literally on bitcointalk, and manage to make some money from it over a year long period. So if regular people can do it here, then rollbit will definitely be able to do it as well. Plus, the NFT they are getting is their own, so they sold it and now they will sell it again so they know how much it can go for.We will see how they handle the default loan case and what precautions they take in that case but as they have already clearly mentioned in their loan blog how all this process will be handled the default case arising seems minimal to me.So they will not be in loss most probably.
This means we are talking about a place that will end up with a much better return to the investment for them. If you are getting a 100 dollar worth of NFT which was paid 200 dollars by someone and give 50 dollar loan, then you know you are going to be in profit in the end.
I am sure in this loan section is only filled with people who borrow with high amount because the collateral is also has high value so there is no loan interest even though in just 7 days this is quite interesting, and it is very likely to attract many users to try it, as you said not only for gambling but also something urgent.Good to see that players can get 7 days without interest loan if they are in need and that also upto $10k and above that you can contact support also for the same.This is some sort of emergency fund by the Rollbit to the players for short period of time like you can have it for any purpose and player's would be taking advantage of this loan features.Actually its not different if you borrow on banks or other lending companies. They will ask for collateral and its up to you whether you still want to pay the loan or give up the collateral as your payment, if you choose the latter then the company will benefited from it.
This new feature of Rollbit is meant for NFT holders, they can take advantage the offer if they're in need of money and repay it later on.
Its a good move for Rollbit because they can also help their gamblers (who are in need of money) by having their own 7 days NFT loans feature without fees and charge.
The NFT holders can borrow upto $10k without contacting support and above that they have to ask the team but can be approved.But it's not necessary they all will borrow big amounts only as they have said you can borrow it upto that amount and loan will be given according to your need.The interest free loan is of 7 days only and have to repay it within that time frame otherwise they will sell it.So be careful also and take loan if you can repay it timely.I am sure in this loan section is only filled with people who borrow with high amount because the collateral is also has high value so there is no loan interest even though in just 7 days this is quite interesting, and it is very likely to attract many users to try it, as you said not only for gambling but also something urgent.
10k is not really a small amount. I mean if we are talking about repayments, we need to look at how long it is given and not the interest rate all that much (surely interest rate is important too). So, let's assume that you are given a chance to pay in 2-3 years? That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.The NFT holders can borrow upto $10k without contacting support and above that they have to ask the team but can be approved.But it's not necessary they all will borrow big amounts only as they have said you can borrow it upto that amount and loan will be given according to your need.The interest free loan is of 7 days only and have to repay it within that time frame otherwise they will sell it.So be careful also and take loan if you can repay it timely.I am sure in this loan section is only filled with people who borrow with high amount because the collateral is also has high value so there is no loan interest even though in just 7 days this is quite interesting, and it is very likely to attract many users to try it, as you said not only for gambling but also something urgent.
In the next 2-3 years, almost all coins (not shitcoins) will have a 2x situation one day, that is something I really trust, that is why all of my investment is in crypto. Income part is very important because we need to also pay the debt back as well without dropping our coin count. So if you can handle that, you are going to be doing fine. It is still a very tough situation and you may lose all of your money AND the NFT you gave, but that is a risk that you take anyway.
10k is not really a small amount.
Up to 10k and it depends on the NFT that you are using as collateral so if you NFT only worth 1k on average then you are only getting around that number as your loan.
That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.
Or you can just keep your NFT without using it as collateral because your NFT might be alot more valuable as well. There is no reason to get a loan by using your NFT as collateral unless you really need it. If you plan on defaulting your collateral then I dont see why you would need to do that as you can always choose to sell your NFT normally in Rollbit's NFT Marketplace
An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral I will advise you if not for a case of emergency, you should rather hold your NFT since it's an asset for long term goal, but if there is another steady source of loan repayment without having to look to the collateral then you can go ahead to get the loan.10k is not really a small amount.
Up to 10k and it depends on the NFT that you are using as collateral so if you NFT only worth 1k on average then you are only getting around that number as your loan.
That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.
Or you can just keep your NFT without using it as collateral because your NFT might be alot more valuable as well. There is no reason to get a loan by using your NFT as collateral unless you really need it. If you plan on defaulting your collateral then I dont see why you would need to do that as you can always choose to sell your NFT normally in Rollbit's NFT Marketplace
An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral I will advise you if not for a case of emergency, you should rather hold your NFT since it's an asset for long term goal, but if there is another steady source of loan repayment without having to look to the collateral then you can go ahead to get the loan.10k is not really a small amount.
Up to 10k and it depends on the NFT that you are using as collateral so if you NFT only worth 1k on average then you are only getting around that number as your loan.
That's EASY loan, you take it, you buy some good coins with it that pays you staking amounts as well, and then you wait for it to skyrocket.
Or you can just keep your NFT without using it as collateral because your NFT might be alot more valuable as well. There is no reason to get a loan by using your NFT as collateral unless you really need it. If you plan on defaulting your collateral then I dont see why you would need to do that as you can always choose to sell your NFT normally in Rollbit's NFT Marketplace
Rollbit explains on the blog for a 7-day loan without interest but i don't know how much % if more than 7 days. If we try to understand what Rollbit purpose of offering loans is to attract NFT holders to play on their site so I believe most of the users who take advantage of this offer are for gamble basically this is what Rollbit is hoping for. I admit Rollbit is keen to see opportunities and open up the market I'm not surprised if they continue to grow.
Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]
One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?
Yes it's not like that who all own NFT that are eligible for this collateral loan will ask for the loan from the Rollbit team and only those who needs funds in emergency will use this option and this is how it is intended to work at primary level.But suppose you are not in need of funds and take this opportunity and then if you are unable to pay it in time you just lost your NFT which is worse case.So use it wisely.Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]
One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?
The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).Rollbit explains on the blog for a 7-day loan without interest but i don't know how much % if more than 7 days.
Yes. Its an option to encourage the NFT owners to gamble or to continue to gamble if they're running out of funds. But regardless of the reason on why you're taking a loan, as long as you can repay it then its fine.If we try to understand what Rollbit purpose of offering loans is to attract NFT holders to play on their site so I believe most of the users who take advantage of this offer are for gamble basically this is what Rollbit is hoping for.
Yes you are right on the point that only 7 days period is allotted to payback the loan so we can say that it's short term loan given to the NFT holders(check that are eligible for this) and after that you don't have any right to that NFT and it's already in the Rollbit custody but the point is they become owner of it afterwards.The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).
Most probably this is good thing but funding your gambling budget through this feature could be risky one like what if you lost your wagering amount and are unable to repay it? So this is not at all good but taking some emergency funds through this loan is good move but we all are wise enough to make a choice.Yes. Its an option to encourage the NFT owners to gamble or to continue to gamble if they're running out of funds. But regardless of the reason on why you're taking a loan, as long as you can repay it then its fine.
Depends on certain mindset of an individual but pretty sure that they would really take advantage of that opportunity that they do have and might not intently to pay off that loan in caseYes it's not like that who all own NFT that are eligible for this collateral loan will ask for the loan from the Rollbit team and only those who needs funds in emergency will use this option and this is how it is intended to work at primary level.But suppose you are not in need of funds and take this opportunity and then if you are unable to pay it in time you just lost your NFT which is worse case.So use it wisely.Regardless whether you agree or not, there is nothing we can do about Rollbit's NFT Loaning Services, it is the people's prerogative if they are going to use their NFT as a collateral for an X amount of money or not, in fact, it is their own NFT in the first place. I am also sure that people are not blindly making any decision with regards to their finances or assets without weighing the possible trade-offs between risk and reward.An against the option of using your NFT as collateral to get a loan not minding how little the interest may be, loan repayment is not that easy most especially when you don't know what the future holds so instead of taking the risk of using your NFT as collateral [snip...]
One thing that has always bothered me is what if one of the NFTs eligible for loan committed a rug-pull during the 7-day period? Is that considered a setback for Rollbit?
but of course Rollbit isnt really just dumb to give out loan amounts but its just really a waste for someone who do think up this way considering on how valuable these rollbot could possibly be.
Use this in emergency imho just like on what been said but i highly doubt that there would quite a number will really be taking this advantage.
Oh, if it is only 7 day period then it makes no sense at all. Loans are not suppose to be just 7 days, I mean what can you earn with a loan given to you in 7 days? There are literally no ways of making a lot of money in 7 days, only if you are like super super lucky and bull run happens right as soon as you get the money and keeps going up until the very last second. This we all know would be like a miracle and that is not the way to make money at all. Loans should be at the bare minimum be 6 months at top, sure if you want 1 day loan then you can get it, but at the max level it should be minimum of 6 months, probably 1 to 2 years as well.Yes you are right on the point that only 7 days period is allotted to payback the loan so we can say that it's short term loan given to the NFT holders(check that are eligible for this) and after that you don't have any right to that NFT and it's already in the Rollbit custody but the point is they become owner of it afterwards.The loan period is 7 days only. If you cant pay the loan during that period then its over. No extension will be given and your NFT will be handed to Rollbit and will be listed at the marketplace (this is based on their support).
The amount of 20-25 year loans for mortgages are through the roof (pun intended lol) and people are building wealth with it, don't tell me that you can't just make some money with that type of loan when banks have been giving them out left and right.
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