$1200 in Tether Loan with $1900 in Collateral

magneto

hero member

Activity: 1666

Merit: 753

Quote from: lclclc223 on August 08, 2017, 05:13:32 AM

Quote from: magneto on August 08, 2017, 04:57:29 AM

Quote from: lclclc223 on August 07, 2017, 06:40:47 PM

I'm requesting a loan of $1200 in Tether for 6 months and will repay $1600 (in Tether) at the end. As collateral, I have 11000 No Limit Coins, which are being traded for 5000 sats currently.

Would you have any other collateral, other than Nolimitcoin?

I know that NLC is being traded at 8k sats right now and whatnot but the only big exchange that lists it seems to be Yobit and yobit isn't known to have the best customer support(in fact one of the worst), and deposits can be blocked and withdrawals can be left to be processed for months.

I can fill the loan to everything you stated, apart from the repayment amount being $150 higher at $1750. This is a lot better than the 66% that Lone Shark is offering you which would equate to a $2000 repayment plus bitcoin price increases.

I can definitely do Tether, however i prefer to have the amount fixed to USD instead of Tether because Tether can go less than $1 sometimes.

I would prefer to have a trustworthy escrow hold the NLC in his yobit wallet, and have a sell order at the 125% mark to cover losses if NLC crashes.

Do you have any instant messengers that you use so we can chat in further detail?

Thanks

May I also think about your offer for a day or two?

No worries mate. Take your time, i have my funds ready anytime. Just PM me once you've made your decision, because i may not be checking this particular thread very often.

If you could offer some extra collateral apart from NLC2 then i would actually be willing to do your offer, $1600. I honestly think that NLC is a big risk because as i said, the only big exchange trading it currently is Yobit, and it's not very reliable at times.

Let me know if you still need to think about it, or if you are able to provide more collateral so i am able to fill your loan to the amount that you requested.

Your choice either way, not forcing you to do anything.

lclclc223

full member

Activity: 174

Merit: 100

Quote from: magneto on August 08, 2017, 04:57:29 AM

Quote from: lclclc223 on August 07, 2017, 06:40:47 PM

I'm requesting a loan of $1200 in Tether for 6 months and will repay $1600 (in Tether) at the end. As collateral, I have 11000 No Limit Coins, which are being traded for 5000 sats currently.

Would you have any other collateral, other than Nolimitcoin?

I know that NLC is being traded at 8k sats right now and whatnot but the only big exchange that lists it seems to be Yobit and yobit isn't known to have the best customer support(in fact one of the worst), and deposits can be blocked and withdrawals can be left to be processed for months.

I can fill the loan to everything you stated, apart from the repayment amount being $150 higher at $1750. This is a lot better than the 66% that Lone Shark is offering you which would equate to a $2000 repayment plus bitcoin price increases.

I can definitely do Tether, however i prefer to have the amount fixed to USD instead of Tether because Tether can go less than $1 sometimes.

I would prefer to have a trustworthy escrow hold the NLC in his yobit wallet, and have a sell order at the 125% mark to cover losses if NLC crashes.

Do you have any instant messengers that you use so we can chat in further detail?

Thanks

May I also think about your offer for a day or two?

magneto

hero member

Activity: 1666

Merit: 753

Quote from: lclclc223 on August 07, 2017, 06:40:47 PM

I'm requesting a loan of $1200 in Tether for 6 months and will repay $1600 (in Tether) at the end. As collateral, I have 11000 No Limit Coins, which are being traded for 5000 sats currently.

Would you have any other collateral, other than Nolimitcoin?

I know that NLC is being traded at 8k sats right now and whatnot but the only big exchange that lists it seems to be Yobit and yobit isn't known to have the best customer support(in fact one of the worst), and deposits can be blocked and withdrawals can be left to be processed for months.

I can fill the loan to everything you stated, apart from the repayment amount being $150 higher at $1750. This is a lot better than the 66% that Lone Shark is offering you which would equate to a $2000 repayment plus bitcoin price increases.

I can definitely do Tether, however i prefer to have the amount fixed to USD instead of Tether because Tether can go less than $1 sometimes.

I would prefer to have a trustworthy escrow hold the NLC in his yobit wallet, and have a sell order at the 125% mark to cover losses if NLC crashes.

Do you have any instant messengers that you use so we can chat in further detail?

Thanks

lclclc223

full member

Activity: 174

Merit: 100

Quote from: Lone Shark on August 08, 2017, 03:41:26 AM

I will offer you a better loan term than before.

-loan is in btc and not in tether dollars
-11%/month (66% in 6 months)
-I am not willing to that that risk like you said so the following terms will negate the possible effects of the price of the collateral dropping
1. Collateral will be 200% of the loaned amount
2. If collateral drops below 175% of the loaned amount you will be informed, you have the option to,
   a. Wait and probably it will go back up or wait for autosell
   b. Add more collateral to attain 200% collateral level again
   c. Pay the loan and collateral returned
3. If collateral reaches 150% of loaned amount, I will sell it all and take what is left.
Note: Since this is a large amount of altcoins, all the above values shall be based on the orderbooks and not on last trade price.

You are trying to protect against the price of NLC2 going down. I respect that. I hope that you can respect my trying to protect against the price of NLC2 going up. Here is my counteroffer: collateral will fluctuate between 125% and 275% of the loaned amount. If it falls under 150%, notify me to deposit more collateral and I will do so, back to 200%. If it falls under 125% for 24 hours, you may sell it. If it rises above 250%, I will notify you to increase the loan to where my collateral is 200% again. If it rises to above 275% for 24 hours, I will write a negative reputation for you, citing this page. These additional loans will also charged 11%/month interest.

Loan is in ETH not BTC nor USDT

I am actually asking for a larger loan (somewhere around $1750); give me a few days to get my NLC2 together.

Lone Shark

sr. member

Activity: 588

Merit: 250

I will offer you a better loan term than before.

-loan is in btc and not in tether dollars
-11%/month (66% in 6 months)
-I am not willing to that that risk like you said so the following terms will negate the possible effects of the price of the collateral dropping
1. Collateral will be 200% of the loaned amount
2. If collateral drops below 175% of the loaned amount you will be informed, you have the option to,
a. Wait and probably it will go back up or wait for autosell
b. Add more collateral to attain 200% collateral level again
c. Pay the loan and collateral returned
3. If collateral reaches 150% of loaned amount, I will sell it all and take what is left.
Note: Since this is a large amount of altcoins, all the above values shall be based on the orderbooks and not on last trade price.

lclclc223

full member

Activity: 174

Merit: 100

But, seeing that that answer will not sufficiently convince anyone to offer me a loan, if it falls below 4000 sats for a sustained 24 hour period, I will increase my collateral by 50%.

lclclc223

full member

Activity: 174

Merit: 100

Quote from: ThatRandom8543 on August 07, 2017, 11:21:05 PM

Quote from: lclclc223 on August 07, 2017, 06:40:47 PM

I'm requesting a loan of $1200 in Tether for 6 months and will repay $1600 (in Tether) at the end. As collateral, I have 11000 No Limit Coins, which are being traded for 5000 sats currently.

Whats your plan if that coin drops in value within 6 months?

That is a risk you must be willing to take. But I strongly believe it won't happen since as it is a fantasy sports coin and football will release in 4 days. You can see the impact of that on the recent price hikes in the coin. Also, I'm in the community and it isn't going anywhere. Of course, this is just my word, so please, do your own research.

ThatRandom8543

sr. member

Activity: 1330

Merit: 307

Quote from: lclclc223 on August 07, 2017, 06:40:47 PM

I'm requesting a loan of $1200 in Tether for 6 months and will repay $1600 (in Tether) at the end. As collateral, I have 11000 No Limit Coins, which are being traded for 5000 sats currently.

Whats your plan if that coin drops in value within 6 months?

lclclc223

full member

Activity: 174

Merit: 100

I'm requesting a loan of $1200 in Tether for 6 months and will repay $1600 (in Tether) at the end. As collateral, I have 11000 No Limit Coins, which are being traded for 5000 sats currently.

Topic: $1200 in Tether Loan with $1900 in Collateral (Read 781 times)