Topic: 150 BTC Loan, 12% per year interest, 180 days. (pegged to fiat value) (Read 3646 times)

What other loans do I have? The first one was for about 100 BTC but that was last year, or early 2013, back when the value of bitcoin was less than $100 USD.

No one took me up on it, and I managed to raise my own funds for that. So I forgot about it.

Maybe you meant this one?
https://bitcointalksearch.org/topic/1000-btc-how-153283

That was in March 2013. Notice that the purpose is the same as for this one.

This one:
https://bitcointalk.org/index.php?topic=189705.20

Was for Avalon chips. Behind the scenes, I partnered up with a small group that bought a batch of chips. Unfortunately, Avalon failed to deliver on time. Fortunately, we got a refund from Avalon. Then we went on to product little bitfury based miners. Then the group disbanded after that and everyone went their separate ways until a few of them came back with another project.

Finally, this one:
https://bitcointalksearch.org/topic/need-30-to-60-btc-to-start-up-yet-another-gambling-site-280368

Was locked, the loan never happened. That is a completely separate project that no one has still done and it's a potential future project I will do when I have both the time and money for it.

Why you make so many loan thread in previous for such huge number ?
Alway different business you need fund for.

I just ask

I would buy his account. But many people on this forum think I'm kind of crazy, and my mental state isn't that great.

Do I count as somebody who would buy his account?

That's the point. I am already getting fiat loans from the local banks. While some want REM (Real Estate Mortgage) or collateral, a few have agreed to lend against receivables. They see the remittance advice and confirmation from the mall, which is almost guaranteed. So far, the bigger mall (SM) has had no delays whatsoever. When they say 56 days, you add 56 to the date in your excel or spreadsheet, and check the account after lunch, the money is there.

I posted this here, because, well, it's like the pizza of lending.

Clothes market is volatile, however if you got audited company accounts for past 3 years or more you can easily raise funds if you borrow more say 1 million usd upwards. However if someone lends you here it can  advance crypto currencies use in offline world 

Thanks, good advice.  Wondering who would buy his account other than trolls, trolls, or more trolls?

TF probably sold that account.  It's not him.  Just put the account on ignore.

TF... You have the nerve to return... 

wth, TF is back on the forum? and https://inputs.io/ routes to EFF

Hi TF! ... I was almost about to say "Much Wow." on the first line, but decided against it.

But to seriously answer your question, many things can go wrong. The mall could decide to kick us out (unlikely), the factory can burn down (unlikely, also insured), ... But my guess is that, don't depend solely on my reputation.

The implication here is that some very trusted forum members have defaulted, disappeared, hacked, etc. No offense to you TF, but that you replied here, you are giving a message. Now, is that really you, or has your forum account been compromised? I don't know the details of what happened, but thanks for giving me back a partial amount of what I had in Inputs.

Back to me, however, I don't promise big gains, I don't even say I'll pay the original BTC value. The BTC gets sent to a cold wallet, which is then immediately exchanged. The fiat is used. The payment (in fiat) is secured, then also immediately exchanged to BTC, then sent to the lender(s).

As to the details of usage, well, it's a traditional business, not even online, much less bitcoin related.

Again, thanks for the interest. I just got a new 60 day loan (actually, 57 days, but that's because 3 days are needed for checks to clear and some minor adjustment, a detail) for roughly a third of the topic amount (about 1 million PHP). So, obviously, I don't need your money, but businessmen can always use the extra capital to fast track whatever immediate projects they have. Or rather I'm not desperate.

By the way, you don't need to fulfill the entire loan amount. If I get a bunch of people to contribute 150 BTC, and you only sent 1.5 BTC, then you get 1% of the interest and principal payments.

Check check check, what can possibly go wrong with such reputation? 

Looks like you did your due diligence and then some running the numbers overall agreement.  I wish I had the coin to loan but I do not.  Best of luck finding some one able and willing to make a deal.

It will be used to pay suppliers. Fabrics. Buttons. Raw materials. It will be used as part of payroll to employees; we are hiring more people. It will be infused into the cash flow as receipts, and used as part of disbursements. It will be used as capital expenditure. We will buy new sewing machines, cutting machines, and other related equipment.

We are expanding operations due to high demand. We are not entering into new territories, or creating new products. We are just making more of the same stuff, providing for the demand.

We are a clothing manufacturer, we sell our clothes in 21 branches of SM, the mall chain. 9 years already.

If no one on this forum lends me, sooner or later, one of the local banks in my country will, at the rate described above. I am merely offering this to the forum, one, as an experiment, and two, only 1% per 30 days interest rate, pegged to fiat, paid in bitcoins.

Serious inquiries, kindly send me a PM with proof of BTC holdings, or if you have not yet bought the bitcoins but have the fiat, a screen shot of your internet bank will do.

What is in it for you? One percent.

What is in it for me? I can tell my family, "Hey, some stranger on the internet lent me 150 bitcoins equal to 3 million pesos."

How is this secured or enforced? Normally, when we borrow from someone, we give them the plan and the terms in detail, or a PN (promissory note), and post-dated corporate checks. In this case, we communicate by PM or email, and I personally can function as escrow and the payment checks are in my name, so I can easily convert the fiat to bitcoins quickly, then send them to you on the date of payment.

If you have seen some of my earlier posts, you can clearly see that I am a signatory of the company issued checks. It's like, I have the private keys of the corporate accounts. All of them.

Some countries do not understand the concept of post-dated checks, so let me explain briefly. These are checks, dated in the future, that can only be transacted on or after those dates. Corporate checks (and even personal checks) are legal and financial documents. We have a bouncing checks law, and people have gone to jail for not paying.

Thanks for asking.

what money use for ?
need more detail than "use for business"

?

It's the family business. As such, I do not have any stake or claim on it until my parents pass away, the business is sold or liquidated, and it still remains profitable. And then it is divided among my siblings (the children of my parents.)

If it does sell for 10k BTC, it will be used to pay some old fiat debts, and I get one third of one tenth of the total; the rest goes to my parents who distribute it as they see fit (or go on a long vacation). So that becomes ... only about 333 BTC.

I don't know anyone who is willing to buy a non-bitcoin business located in the Philippines and pay with bitcoin. Serious offers can take a peek at the financial statements, but frankly, it's nowhere near what most bitcoin business make. The brand has been around for 45 years, before I was born, though.

Our factories used to make jeans in the 1980's. Levi's, Wrangler's, Marithé François Girbaud, to name a few.

Back then, I was a "messenger boy". Today, I'm the payroll master. Some of my employees are older than my dad.

But they make great clothes.

I'm not expecting anything, but hey, this is bitcoin. Someone surprise me. I will pay. I can draft a PN (Promissory Note), notarized, signed, and you can take that to any local court here. I do prefer I just GPG sign our agreement.

You will make potentially more money investing in a dice or gambling site that accepts investments (the house always wins), or speculating on the alt-coin market, or even mining (if you get a decent price and difficulty does not go absurd or whatever.)

Here, you just make 1% per month, but it's a lot safer since it is backed by a tangible non-internet connected offline brick and mortar business. (Sewing machines and flat irons still need electricity, but I only need the internet to do bank fund transfers to pay suppliers, etc.)

Note: 333 BTC (my share) is worth only 145,100 USD. Or 6,450,000 PHP. Yes, I'm a peso millionaire, but I'm NOT a dollar millionaire. Who cares if it's not dollars. It's just enough to buy a house and a car. I still have to go out and look for a job or start my own business.

I plan to start a private security company.

Whao everyone drop everything.  10000 bitcoins?  Dabs, you're a freaking millionare!!!??? :O
On a side note, I would try and fulfill a part of this loan (got some BTC on paper ) but I'm not into long term investments...  Good Luck!

Hi,

The subject or title of this post needs further explanation as it's not as simple as a large loan. (It is, when you understand it, but only when you get it by the end of this post.)

I'm looking for a fiat loan, actually, transacted in bitcoins, using the rate at the time of sending the transactions.

I will try to simplify for ease of understanding my objective:

Let's say you lend me 100 BTC. At today's rate, using preev.com, that is 42,430.00 USD. Today is 2014-04-28, 180 days from now is 2014-10-25, and I would have paid you a total of 43,782.46 USD in BTC on that day.

Because I will peg this loan to fiat, please do not lend me from your holdings, rather, lend me from your fiat, using BTC as a transmission medium.

For the terms of the loan, it will be as follows, using the example of today's date:

2014-04-28   = today, send me your coins
2014-05-28   = 30 days, interest only
2014-06-27   = 60 days, interest only
2014-07-27   = 90 days, principal / 4 + interest
2014-08-26   = 120 days, principal / 4 + interest
2014-09-25   = 150 days, principal / 4 + interest
2014-10-25   = 180 days, principal / 4 + interest

The first two payments are interest only, the last 4 will pay 25% of the principal amount and the interest.

A small payment chart will look like this:


The last column is what I send you as payment in USD, converted to BTC on that day.

Ok, if you understood that so far, I will show you an example of a real life loan that I got from a local bank, denominated in PHP (Philippine Peso).


If you go to http://preev.com/btc/php and input 3 million PHP, you will see that it is about 156 BTC.

Now, this is a bank, and they offer 8.5% interest per year, divided into 12 monthly payments.

I can offer instead, 12% per year, or 1% per month. So, for a 1 million PHP loan, instead of paying you only 1,031,875.00, it will become 1,045,000.00.

The BTC, as of today, translates to:
1000000.00 PHP = 52.19 BTC
1031875.00 = 53.86
1045000.00 = 54.54

Using http://preev.com/btc/php

To make this even more interesting, I am willing to collect BTC from several people to fulfill this loan, and divide out the payments proportionally. So, say, there are 10 people who send me 5 BTC each, for a total of 50 BTC. Then I will calculate the PHP value of the total amount, use that figure, and show the payment values of principal and interest just like shown above. On the day I make payment, I buy the BTC to pay back everyone.

Now, the fiat values hardly change over the course of several months, I mean, the USD to PHP is relatively stable. It's the BTC to fiat (USD or PHP) that is unstable, and could go either way, either to the ground or to the moon.

I am asking for a non-collateral loan, as I do not have anything usually acceptable in this bitcoin world. I do not have significant alt-coin holdings, and I have no miners on hand (I have a pre-order). As such, I completely understand that very few, or no one will lend this to me.

My background includes the following, if you are still reading up to this point:

1. Registered on forum in 2012. Hero member. Many posts. Good activity.
2. Does escrow and group buys, where everyone has been fully paid and satisfied.
3. Does a sort of charity Feed Some Children program. On going since last year.
4. I am involved with a local Philippine based bitcoin exchange, see the about page on the link in my sig. (and which is why I am able to transact such amounts quickly.)
5. I run a small offline non-bitcoin business, which is where the money will actually be used, have over 180 employees, and distribute our products in retail department stores. The products are clothes. I'm actually the payroll master / accounting department so twice a month I send the salaries to 180 people as part of my job.
6. I can sell my business, inclusive of factory, sewing machines, all the employees, and all the rights to the business relationships to suppliers, all the bank accounts (or you just create new ones), all receivables, and the brands we are producing, for about 10,000 bitcoins (worth one pizza a few years ago.)

(For those computing, that's about 200 million PH pesos, or about 4.4 million USD, only. It's small compared what I've been reading about around here.)

I do not need the loan, but if someone decides to grant it, I will be able to use it, and I can pay as indicated in the above schedule. I just thought I'd give it a try here.

I am offering a better rate than what I am getting from a bank, but at a longer term than most loans on this forum, so I'm posting this in the long-term category.

We can agree to peg it to USD or PHP (I prefer PHP, as I will eventually use that, it's my local currency.)


Dabs