
I have just launched Fion's Micro-Loans!
https://manifold.markets/Fion/fions-microloans?r=Rmlvbg
Will anybody take out a loan and then fail to pay me back in full by the agreed repayment date, and will this happen by the close date of this market?
@duck_master Thanks for the review. I personally think three stars is a little harsh, but I realise I didn't explain my NA resolution thoroughly enough.
Basically, Snoozing Newt asked me for a loan, I gave it, and then they bought loads of YES in this market before informing me that they intended to pay me back a day late (thus forcing a YES resolution here). I tried to persuade them not to do this, but they didn't back down. I decided to NA this market to remove their incentive not to pay.
With hindsight, this market wasn't a very wise decision in the first place. I wanted to try to gauge the risk of people failing to pay me back, but of course anybody who takes a loan can trivially force this to resolve YES by not paying me back, so this market creates an incentive for bad behaviour.
(Also, just to note, that the NA resolution was in your interests, because otherwise you'd have lost your 10 mana.)
Apologies for not explaining in detail when I cancelled the market. You can check the comments in the Micro-Loans page if you want to see the full conversation between me and Snoozing Newt. https://manifold.markets/Fion/fions-microloans?r=Rmlvbg