3% per day? is that like...21*52 % APR?
No, that is simple interest.
Most loans charge compound interest.
1.03 ^ 365 = 4,848,272% annual interest.
Topic: 60 BTC loan (Read 8014 times)
No, that is simple interest.
Most loans charge compound interest.
1.03 ^ 365 = 4,848,272% annual interest.
3% per day? is that like...21*52 % APR? in my country/province that is actually illegal, and lenders are forced to pay excess interest back if they receive it. .
Welcome to Bitcoins.
I mean, I did pay him back, fully. It's just that when something out of your control happens, like MtGox goxing your money, it takes time to resolve these things. Never tried to dismiss fault, at the same time, fault is handed off to everybody, you know, I could blame MtGox, even though I'm not, I realize this was my responsibility and should have had a backup to transfer funds.
So in the end, I learned a lesson and nckrazze made a bunch of money. Seems fair.
So in the end, I learned a lesson and nckrazze made a bunch of money. Seems fair.
wow...just read every post, amazing. Dank set the terms, you helped him 1 with the initial loan 2 with the rate adjustment
and has the nerve to call you greedy when you want what was owed to you.
crisis or not my car payment is due the same day every month. i signed an agreement and understand the terms i agreed to.
I cant believe a grown man who actually is asking for an awful lot of bitcoins to open a hookah lounge cant pay back a 60btc loan and then makes excuse after excuse like a 10 year old child.
man up. apologize to your lender and repay your debt. accept that you are at fault. you set the terms. you sealed your fate.
be a big boy and admit you fucked up.
and has the nerve to call you greedy when you want what was owed to you.
crisis or not my car payment is due the same day every month. i signed an agreement and understand the terms i agreed to.
I cant believe a grown man who actually is asking for an awful lot of bitcoins to open a hookah lounge cant pay back a 60btc loan and then makes excuse after excuse like a 10 year old child.
man up. apologize to your lender and repay your debt. accept that you are at fault. you set the terms. you sealed your fate.
be a big boy and admit you fucked up.
3% per day? is that like...21*52 % APR? in my country/province that is actually illegal, and lenders are forced to pay excess interest back if they receive it.
the point of bitcoins is for people to make their own decisions...but don't forget lenders have a decision to make too. you say you are informing people but wth is anyone doing offering a 2,000%APR loan without considering a possible, relatively high interest risk? bitcoin doesn't have room for stupid lenders, I think. Don't overestimate your own credit rating ability, or escalate someone else's ponzi. why don't you just leave it at that. Economics will root the rest out.
off the soapbox, and not posting on the topic anymore.
the point of bitcoins is for people to make their own decisions...but don't forget lenders have a decision to make too. you say you are informing people but wth is anyone doing offering a 2,000%APR loan without considering a possible, relatively high interest risk? bitcoin doesn't have room for stupid lenders, I think. Don't overestimate your own credit rating ability, or escalate someone else's ponzi. why don't you just leave it at that. Economics will root the rest out.
off the soapbox, and not posting on the topic anymore.
I wish I had known there was a market for it, so I could open the Bunny-Foo-Foo No-Hurt-Feelings Bank just for dank.
I'll loan any amount with a 3% daily interest rate, but all you have to do is tell me some sob story about a sticky situation after the repayment date has passed, and you'll no longer have to pay interest. That way, you don't have to get all angry and defensive about me enforcing the terms of the loan that you requested, instead we can have ourselves a wonderful tea party with all our favorite stuffed animals and imaginary friends!
I'll loan any amount with a 3% daily interest rate, but all you have to do is tell me some sob story about a sticky situation after the repayment date has passed, and you'll no longer have to pay interest. That way, you don't have to get all angry and defensive about me enforcing the terms of the loan that you requested, instead we can have ourselves a wonderful tea party with all our favorite stuffed animals and imaginary friends!
Not really. He owes more money now.
This is amazing.
Surely a man I want to invest thousands of dollars in for a business.
After all, the IRS is known for not compounding interest, right? And banks don't compound interest on the interest left over after you pay off the pricipal, right?
This is amazing.
Surely a man I want to invest thousands of dollars in for a business.
After all, the IRS is known for not compounding interest, right? And banks don't compound interest on the interest left over after you pay off the pricipal, right?
Can't deny the truth forever.
Wait, this thread is a success for you?
Can't deny the truth forever.
yep, i dont know why he didnt come to me any sooner. everything good now.
Owes me a bit over 1 coin. Everything else is fine. I'll let it slide 'cause he brought so much attention here.
Loan Repaid in Full
So how much does he owe Senbonzakura now?
15 BTC. His name fits him well. He is being passed around.
Lol... and 10million more soon to be passed around
yep, i dont know why he didnt come to me any sooner. everything good now.
Owes me a bit over 1 coin. Everything else is fine. I'll let it slide 'cause he brought so much attention here.
Loan Repaid in Full
So how much does he owe Senbonzakura now?
15 BTC. His name fits him well. He is being passed around.
yep, i dont know why he didnt come to me any sooner. everything good now.
Owes me a bit over 1 coin. Everything else is fine. I'll let it slide 'cause he brought so much attention here.
Loan Repaid in Full
So how much does he owe Senbonzakura now?
yep, i dont know why he didnt come to me any sooner. everything good now.
Owes me a bit over 1 coin. Everything else is fine. I'll let it slide 'cause he brought so much attention here.
Loan Repaid in Full
Dank, you might want to see if IBB can still give you a loan for the interest on this one, then you wouldn't be facing a staggering 3%/day interest rate.
What is the current amount owed?
What is the current amount owed?
The joint, you must be one of the most insensitive people on these forums. Your mom died? Too bad, should have thought of that possibility. Lose an arm? Not an excuse.
Oh, you lost your mother and your arm. Now I get it. You must've paid for the funeral services and the hospital bill by yourself, and had a close friend/relative bring your laptop to the hospital for you so that you can be the honorable person that you are and make sure that you informed us about this 'hard situation' even though you're finding it difficult to press the keys, grab some tissues to wipe your tears, and push the morphine button all with one hand.
Really, you're going to go to that level? Now, if this was actually the case, clearly we wouldn't have been hearing from you all this time. Actually, I'm very sensitive to those in need, particularly nckrazze who is in need of his loan being repaid. Actually, I offer a therapy service on this forum for those in need with a 100% satisfaction guarantee (no payment necessary for any reason as stated by the client) that I take very, very seriously. Now of course, if you actually did lose your mother or an arm in the past two weeks, I'd be extremely sympathetic to your situation. But, toss in some common sense and add a few peripheral testimonies and evidence from other forum members and we start to see a clearer picture.
Quote
Your character says much about you, another person I will avoid doing business with.
Ohhhhhhh burn.
You must be a fanominal therapist to take the time and understand your clients problems so thoroughly.
I'm siding with Scott J. If you don't know what happened, kindly fuck off. If its that important to you, I will send you a pm detailing my personal life so you can at least know what you're talking about.
You blew your money on a girl? Really? You think that automatically entitles you to a loan extension? And you have the balls to say that we're the insensitive ones? Holy shit are you going to be in for a surprise in life.
Sorry nckrazze, hopefully all the free bumps helped you out. If I had the BTC to spare I'd cover you. Unfortunately, I don't. But, you scored some rep points with me for being generous enough to deal with this kid and offer compromises. Dropping out of thread now. I really hope you get your money back.
Edit: Dank, don't start with the suicide shit. You have some serious issues if you think taking the chick to the beach is better than calling 911.
The joint, you must be one of the most insensitive people on these forums. Your mom died? Too bad, should have thought of that possibility. Lose an arm? Not an excuse.
Oh, you lost your mother and your arm. Now I get it. You must've paid for the funeral services and the hospital bill by yourself, and had a close friend/relative bring your laptop to the hospital for you so that you can be the honorable person that you are and make sure that you informed us about this 'hard situation' even though you're finding it difficult to press the keys, grab some tissues to wipe your tears, and push the morphine button all with one hand.
Really, you're going to go to that level? Now, if this was actually the case, clearly we wouldn't have been hearing from you all this time. Actually, I'm very sensitive to those in need, particularly nckrazze who is in need of his loan being repaid. Actually, I offer a therapy service on this forum for those in need with a 100% satisfaction guarantee (no payment necessary for any reason as stated by the client) that I take very, very seriously. Now of course, if you actually did lose your mother or an arm in the past two weeks, I'd be extremely sympathetic to your situation. But, toss in some common sense and add a few peripheral testimonies and evidence from other forum members and we start to see a clearer picture.
Quote
Your character says much about you, another person I will avoid doing business with.
Ohhhhhhh burn.
You must be a fanominal therapist to take the time and understand your clients problems so thoroughly.
I'm siding with Scott J. If you don't know what happened, kindly fuck off. If its that important to you, I will send you a pm detailing my personal life so you can at least know what you're talking about.
You blew your money on a girl? Really? You think that automatically entitles you to a loan extension? And you have the balls to say that we're the insensitive ones? Holy shit are you going to be in for a surprise in life.
Sorry nckrazze, hopefully all the free bumps helped you out. If I had the BTC to spare I'd cover you. Unfortunately, I don't. But, you scored some rep points with me for being generous enough to deal with this kid and offer compromises. Dropping out of thread now. I really hope you get your money back.
Nah man don't need cover. I'm clear, already got my principal back. Thanks for the offer!
The joint, you must be one of the most insensitive people on these forums. Your mom died? Too bad, should have thought of that possibility. Lose an arm? Not an excuse.
Oh, you lost your mother and your arm. Now I get it. You must've paid for the funeral services and the hospital bill by yourself, and had a close friend/relative bring your laptop to the hospital for you so that you can be the honorable person that you are and make sure that you informed us about this 'hard situation' even though you're finding it difficult to press the keys, grab some tissues to wipe your tears, and push the morphine button all with one hand.
Really, you're going to go to that level? Now, if this was actually the case, clearly we wouldn't have been hearing from you all this time. Actually, I'm very sensitive to those in need, particularly nckrazze who is in need of his loan being repaid. Actually, I offer a therapy service on this forum for those in need with a 100% satisfaction guarantee (no payment necessary for any reason as stated by the client) that I take very, very seriously. Now of course, if you actually did lose your mother or an arm in the past two weeks, I'd be extremely sympathetic to your situation. But, toss in some common sense and add a few peripheral testimonies and evidence from other forum members and we start to see a clearer picture.
Quote
Your character says much about you, another person I will avoid doing business with.
Ohhhhhhh burn.
You must be a fanominal therapist to take the time and understand your clients problems so thoroughly.
I'm siding with Scott J. If you don't know what happened, kindly fuck off. If its that important to you, I will send you a pm detailing my personal life so you can at least know what you're talking about.
You blew your money on a girl? Really? You think that automatically entitles you to a loan extension? And you have the balls to say that we're the insensitive ones? Holy shit are you going to be in for a surprise in life.
Sorry nckrazze, hopefully all the free bumps helped you out. If I had the BTC to spare I'd cover you. Unfortunately, I don't. But, you scored some rep points with me for being generous enough to deal with this kid and offer compromises. Dropping out of thread now. I really hope you get your money back.
Edit: Dank, don't start with the suicide shit. You have some serious issues if you think taking the chick to the beach is better than calling 911.
You greedy bastard. Sometimes you just have to make an emergency trip to the beach to relax!!! Have you no compassion??
Heartless I say!!
Suicide is very funny. Heartless I say!!
No, my argument is that I was found in a situation after receiving the loan, asked to change the loan terms only to receive a false sense of empathy. Lender replies as if he will be understanding to my scenario only to realize he only gave me an extra day to deposit money which takes half a week. So now here I am, 40 in dwolla, 500 on its way and an ever increasing interest rate because I couldn't get the money to transfer instantly as nckrazze wanted. Am I saying "fuck this guy, I'm not going to pay him"? No, but due to the fact he couldn't change the interest rate as he said he would do, I need much more money which subsequently takes much more time to get.
He's taking advantage of someone who was in a hole in order to further increase his profit margins. Good for him, he cares more about his pockets than helping human beings. Am I still going to pay him? Yes, but I'll be damn sure to never do business with him again.
Maged, I've thought about that but I really don't care about money that much. Others will see nckrazze's greedy character and karma will always have the last say in the end.
He's taking advantage of someone who was in a hole in order to further increase his profit margins. Good for him, he cares more about his pockets than helping human beings. Am I still going to pay him? Yes, but I'll be damn sure to never do business with him again.
Maged, I've thought about that but I really don't care about money that much. Others will see nckrazze's greedy character and karma will always have the last say in the end.
Taking advantage you say? No just using the terms you gave to me when we agreed. And I care about my pockets more than humans? Funny story here. I respect those who deserve to be respected. You have created some type of online identity for yourself with a calm and respectful tone, but you are rather the opposite. You have showed us who you really are in this thread, and if you are worried about my rep going down, no problem, I guess I am the dick here, but hey, getting my name out every few hours at the top of lending because you post a new excuse or extension to the argument? Fine with me.
Oh and I'd like to drop these off here for those who care. Just read the hard facts.
http://gyazo.com/082f2cd63d3b09543552965ae65888b8
--Should take less than a week. Yeah, right. Nearing 2 weeks now.
http://gyazo.com/110b1a846cc9c60045050c24fd4a9215
http://gyazo.com/0cc2214d3d5c59ec175003954dc6116e
--There's no sympathy in business, but I took you in man.
--Oh and that's his situation for those wondering.
http://gyazo.com/8685f6b7b1e48b664176d3d2d436dae5
--So there you go, I responded, giving him a better offer than the rates he gave. From 21% to 10% and 15%.
http://gyazo.com/66363b2cbc25892939175f0df6df17bb
--Then he goes MIA for a bit, getting me worried. But then here he comes, offering me a "no worries" like its nothing.
http://gyazo.com/b3be66e92bb436356ec89bac6af0e645
--Confirmed.
Since then I have been waiting. Hope it turns up someday. I took some of the advice of members here and decided to give him a break and ask for the rest of the interest on the money he owed me to the day he paid the 60.54. That came out to 13 some coins. He is now at 36% on those 13 coins instead of 36% on the 60BTC that we originally agreed on. Just me with my greedy character, eh?
You greedy bastard. Sometimes you just have to make an emergency trip to the beach to relax!!! Have you no compassion??
Heartless I say!!
Heartless I say!!
Jump to: