Topic: 3000-6000 BTC loan - Hookah Lounge - 9/18/12 Update - page 41. (Read 55301 times)

Real world loan contracts deal with this all the time.  You denominate the contract in terms of the most stable currency even if the funds are loaned and the repayments made in another.  dank's proposed venture is not a "Bitcoin business" in any meaningful sense of the word.  The vast majority of his business will be conducted with USD and that's also the currency in which his accounting records will be maintained.  It's a pretty trivial matter to denominate the loan contract in USD and repay the lender in Bitcoins.

I have to say, this is a great thread. However, pointing out all of the lack of information in dank's plan could have been avoided. The reason why? Asking for a large loan in BTC for any significant period of time is crazy, especially for funding a business. What happens if the value of the BTC goes way up? The borrower will never be able to pay it back. See this thread here: https://bitcointalksearch.org/topic/lending-btc-is-very-risky-103275

Dank's plan is DOA from the thread title: 2000-4000 BTC loan - Hookah Lounge

Edit: I see he had thought about the problem of BTC rising in price, but his plan doesn't solve the problem.


If 1 BTC went to $20, the investor would have almost certainly been better off with the BTC. And assuming dank didn't sell all the coins at once, he would now have reaped the rewards of $20 BTC.

The lesson he'll get in Free Market is someone else leasing the building because he doesn't have the funds or anything else organised which would allow him to acquire it.  He'll probably abandon the project if he can't get that particular building and blame "lack of capital" or "no-one giving him a chance" for the project stalling.

To be honest his "business plan" and his "spreadsheet" wouldn't qualify him to go up to cars and ask "Can you spare any Bitcoins, I haven't eaten in a week!"

He deserves a lesson in Free Market by having someone charge him 10-15 BTC per hour to fix that mess so he can apply to a bank.

very interesting read, this thread... makes me all ponderful and such. (yes, ponderful. shut up.)

Please show any and all inaccurate statements that are factually inaccurate and not inaccurate because you want them to be.

Aaaaand we're back to the part with the vomit.

ARGH, my eyes hurt just looking at that one.

Dank, if you can answer all of Monster-Ant's questions sufficiently, you'll be able to get a loan no problem. Don't just ignore it because his negativity is harshing your buzz, it's called reality and you'll have to face it before your idea becomes more than a pipe dream. The way you're acting on, in some weird reality where you do get the business started, you'll just drop all pretense of operating it and just make use of the facilities because it's real work and it's harder than you expected it would be. Then you'll lose your building and be wondering what happened, while some college kids pick up cheap hookahs at your going out of business sale.

Seriously, draft up a floor plan using the building you're looking at, spend some time doing some proper research into what all you'll need.

I'm still wondering if there is a rip in Dank's steering wheel..??

the problem with this is his ego won't allow him to work a minimum wage job. I'm guessing he won't go to college because he thinks he already knows everything.  Whats the point of getting an education if you think you can just will anything to happen and it will become true?

The only way I see him having a significant change in perception is through taking DMT.  Because he's obviously into drugs and that's the only suggestion that he won't think is just a bunch of bullshit. It might also help him realize how stupid drugs really are without having to take someone's word for it.

I've seen people in much worse shape than Dank put their lives back together.  Even just a few moments of clarity to start the process can be enough.

I agree this would work. But hes already too deep into his ego trip that he would never take any of your advice.

He'll get his wakeup call without drugs.

Once he gets a job, has to move out of his parent's house, and has to support himself he'll lose all his "I'm special, finance my dreams for me!" shiny diamond attitudes.

Right now he believes in magical thinking, believing that just wanting to be something makes him something and he can have whatever abilities he desires just by wishing hard enough.

Working for minimum wage at Wal-Mart, having a crappy apartment, and eating Top Ramen for a month will knock that out of him.

College will knock that out of him the first time he has to meet homework deadlines and he finds out he failed a test because just wanting something to be right won't make it right.

Hell, a tour of Afghanistan will knock that out of him.

He needs to realize he is only as special as his accomplishments make him, not his dreams.

Martin Luther King had a dream, that dream motivated to make accomplishments, and he's remembered for that.

Dreams only serve as motivation.

Have dreams. Strive for your dreams. Try to live your dreams. Accomplish your dreams.

Ego is not really the concern.  The problem for Dank is he is attempting to drown the sorrow and pain in his reactive mind with drug abuse.  That may gave him some temporary relief, but it is also drowning out the rationality of his analytic mind.  Thus, despite his intelligence and work ethic he is unable to produce an appropriate business plan at this current time. 

In order to cleanse his mind of the forces that are holding him back he needs to give up the drugs and begin to work towards clarity.  I've seen such a process change countless lives for the better.  He needs a permanent solution, not a temporary one.

his ego is his problem.  The only way that I know of to go through "complete ego loss" is through taking DMT or LSD.  Preferably DMT.  You only need to do this one time, and you will never want to do drugs again in your life.

Trust me, I thinks drugs are terrible. But, some of them can have very good therapeutic value and they can help with introspection and can cause you to realize what was wrong with your perspective on life.  I'm suggesting a 1 time experience that will probably help him realize how stupid drugs are.

Rarity, I know you're into spirituality. There might be some way of achieving ego loss through spirituality without using any sort of drug (lucid dreaming perhaps?). I have no clue and I'm no expert in that field.  Keep in mind DMT is produced in your brain naturally and is released every time you go to sleep and when you die. Hence the reason i suggested lucid dreaming could help achieve ego loss without taking a drug (well technically you are taking DMT every time you sleep.)

I can vouch for lucid dreaming. I learn more from my dreams than I do from reality.

Also, DMT has nothing to do with the "false sense of happiness" that u seem to dislike so much.

I strongly disagree with any advice that you should continue to abuse drugs.  Drugs are your problem, not your solution.

The amount of hookas you plan to use are NOT unlimited. You are limited by space available. Even in hooka palaces in Turkey and the Middle East (yes, I've been to them) they don't figure "Unlimited hookas", they figure it by how much SPACE you have. A comfortable booth is roughly 10x10 for you to share with 3 other people, with the hookah in the middle. Now, you may see "See, I can fit SIXTY of them in my palace!" No. You cannot. Number one, you have to abide by firecodes for minimum aisle length, you are offering rooms, there will be a counter, stock room, bathrooms, etc offered.

Take your floorplan, and draw up a layout. I took a look at your graphic arts skill, you have the skill to do this, and make impressive isometric diagrams.

Start with that, Dank.

In other words, make you a completely working spreadsheet for your business plan for free?

Sorry, that isn't had the free market works. I am under no obligation to provide you with a self-calculating spreadsheet for all the variables just to see the math going into it when I already showed my work right in the thread.

Would you provide me with free artwork just to show me that you can do it?


That's assuming maximum capacity at all times, which rarely happens.
Seems like it, doesn't it. Better get your numbers so you know.

You will fail dismally at any task in life, including living on your own.

Enjoy working for me.
You will never succeed at a job where you work for other people, and will never graduate from a college.
They call those people "Homeless"
They're usually called: "Bankrupt"
You will secure no funding from anyone who isn't named Ivan or Hong.

Then you will fail as a small business owner, or just reel month to month on the edge of bankruptcy.

You think I'm being negative? Boy, I might as well be blowing sunshine up your baby smooth ass compared to a loan officer or when the employment department or labor board comes a-knocking. Not to mention OSHA. And my God, if you think I'm negative, the IRS agent will make you cry just looking at your phone number.

Or is it negative because I"m treating you like an adult who wishes to undertake an adult task instead of telling you how fabulous you are for having an IDEA and wanting everyone to finance you. Hell, you've stated people should finance your life and dreams.

Here's a hint: Dreams are worth nothing outside of motivation.

Become a Navy SEAL or US Army Ranger by this time tomorrow and demonstrate the ability to eat coal and shit diamonds.

Then you'll run out of the bank crying.
Don't say stuff like this if you want to be taken seriously.

Dank, I was going to tell you that after looking at your other ventures, it looked like you have skill, experience, and an eye for graphic design, and might make an excellent graphic designer full time.

But since you can't make deadlines, so much for you being professional.

EDIT: Your freelance graphic design thread is what caught my attention on you. I decided to research your other business ideas/strategies/creations in order to be sure that you could handle long term work on a freelance basis.

If you can't handle a deadline, you can't handle instructions, and can't handle telling me step by step how you're going to approach a project, I'll look elsewhere for graphic designers.