Topic: 35 BTC Loan Contract (ATC777 and BTCInvest) - page 2. (Read 3761 times)

Paid 3.24 BTC for payment #2. I realized after getting the coin it was 3.35xxxx and not 3.25. I will get more coin tomorrow to make up the difference.

https://blockchain.info/tx/0200ac258f9782dac75ab73efc7408b1dd6ef1acb0896e766a1dd6fc5628e256

http://blockchain.info/address/1FLE1sJRVdnZ2FweicXdq2ZNqP8fPvNfpD

My apologies on this being slightly late and my recent unavailability on the forums and OTC. Been dealing with some awful dental problems and was just injured in a car accident, to add insult to injury (or vice-versa lol). It simply slipped my mind that it was "that time of the month" again.

Regards and hope to see you tomorrow,

--ATC--

Screenshot of payment form:



This is scheduled payment #01 in the amount of BTC3.35416 BTC from ATC777 to TradeFortress / BTCInvest...

Payment status: COMPLETE

You can confirm by checking the .info for the tx here...

Regards,

--ATC--

When the prices drops (if it does) then you'll be the one on top.

Definitely a loss -- I sold the BTC for USD for more working capital for our bullion trading, and ended up having to buy the BTC back at the new super-high prices!  haha

--ATC--

Yes, please pay the agreed amount of BTC to 1FLE1sJRVdnZ2FweicXdq2ZNqP8fPvNfpD (the repayment address

It's only a loss if you look at the USD value

Luck of the draw

TradeFortress will do just fine... I, on the other hand, got taken to the woodshed! Just my luck to borrow 35 btc right before the price skyrockets to over $25.00/BTC LOL! A loan of 35.00 BTC is essentially a net-short position against the BTC/USD rate, so that's a net-loss to my portfolio heheh. 

--ATC--

I hope this goes well for both. Would be nice to see a decent amount of loan be returned as planed for a change.

I believe my first payment is due tomorrow? I can just go ahead and pay tonight, if that's cool with you, TradeFortress.

Regards,

--ATC--

He's probably pumping posts to do his own lending thread.

Are you serious? Did you read the title? 

Transaction for BTC35.00 is fully confirmed/complete.

Thank you, TradeFortress, for taking so much of your time to review everything and for making it a rather painless process!

Note to prospective debtors looking for a loan -- I'll give you a little review of my experience:

I'd highly recommend TradeFortress and the BTCINVEST group if you need a loan and have the capacity to repay it. Extremely friendly and professional, and seems to have a lot of knowledge of Bitcoin in general. The terms are very reasonable and he is willing to work with you to make an agreement you both will appreciate. He spent hours of his time talking to me, explaining how it all worked and working with me to come up with mutually beneficial terms and conditions. He wrote up the contract the way he wanted it and then allowed me to make some basic edits to remove some ambiguity and make the terms a bit clearer. TF is definitely not afraid to do his homework and put in the maximum effort.

I initially approached TradeFortress out of curiosity about the whole concept of Bitcoin loans because I saw value in the idea from both angles; from the standpoint of securing a little extra funding and the potential profitability of being a lender. I asked for a quote on what I could potentially get a loan for to apply to buying more gold and silver to boost our inventories/revenues a bit. And I was offered BTC35.00 BTC at a 30% APR (because I'm new in Bitcoin and TF knew nothing about me, of course). I had to turn down that offer because it just wouldn't have been worth it at 30% (the cost is much higher than a dollar-denominated loan due to appreciation of the BTC against the USD), and I wasn't really "hurting" for a loan anyway. So we just dropped the subject entirely and started talking about software, game and web development and business. But TF put in the effort to look into me personally outside of the Bitcoin world and get to know me. He then decided to make a new (totally unsolicited) offer for BTC35.00 @ 15% APR for a duration of one year... essentially making me an offer I couldn't refuse. I knew I could immediately use it to buy an extra silver or a little "basket" of assorted gold coins and increase our volume -- all at a rather low cost -- and still maintain a good margin. After all the money I've spent on our startup costs it was a quite appealing offer, so I deemed it to be a worthwhile deal with relatively low risks/liability. If anything, I can use the opportunity to start developing a little "credit history" in the Bitconomy. 

So I'm quite pleased with all of this and I'd definitely recommend BTCINVEST (and TradeFortress, personally) to anyone looking for a little extra cash to boost their business or start-up project. I wish everyone in the BTCINVEST group much success in this lending venture and perhaps someday I will hop aboard myself. 

Thanks,

--ATC--

Didn't saw the 2nd post. Anyways.

Hey dude, you do realize that most of the replies to lending threads you're making are to ones that have already been funded? (for example, this one)

love it.

To BTCINVEST holders,

I have deemed this loan to be low risk because the borrower has significant reputation on other websites (gamedev, http://www.gamedev.net/user/174227-atc/), shown ID & proof of assets, had performed a few high valued trades on here and came off as someone who isn't a scammer in our conversations. I take a lot of behavior in account when I look for low risk loans, and I will be covering this 100% in case of a default.

In addition, I'll be paying the interest as dividends in advance so it matches up with the dividend schedule

I hereby acknowledge the payment of BTC35.00 (thirty-five Bitcoins) as received.

Payment sent.
https://blockchain.info/tx/9a4001e080e52fa22f12f79bfe4b625de1ac0b86215076bd3c2e395665913180