Topic: Banco De Kluge (BDK) - [On "Vacation" -- PM me if you need anything] (Read 4586 times)

I'll be closing this thread. I will be buying a house soon and need to convert some BTC to USD, and there aren't many loans being asked for on productive ventures. I'd rather go through GLBSE to provide funding for productive projects. Average interest rate is too high for most legitimate productive ventures, but too low for most small lenders to remain profitable with as many scammers as can exist without regulations so strict with a new market that the vast majority of applications would be denied. I'd be fine covering Bitcoin until a Dwolla transfer goes through, but really, there are much more streamlined options offered at competitive rates. Though there's lots of demand, I don't believe the lending service I originally envisioned is justified by current market conditions, and that the remaining competition is able to handle everything I was covering.

All deposits will still be paid, all loans are still expected to be paid, all other commitments will be honored. If your loan is set to "auto-renew" - at least for now, there is no problem with that continuing for as long as you wish, though I'll ask to have loans due by March not be auto-renewed while I ensure I have enough cash-on-hand to repay deposits and fund a loan I committed to make. CDs will no longer be issued, nor "re-issued."

Last day for higher CD rates. Quick reminder that CDs are personally backed by me -- even if all my loans go bad, you will still get paid.

BDK is now significantly more diversified, and a new "equity diversification" requirement has been added. I am ("BDK" is) now invested in FPGA.contract, imsaguy's lending program, and a meager 5BTC in Bitscalper out of curiosity. "Loan diversification" requirement has also been modified to be more sensible, taking into account all securities instead of just other loans.

ETA: I'm taking a break for at least a couple days. PM me if you want to talk to me. Probably faster to email me if you know the address.

~18.6BTC to lend. Will still match IBB loans. Just today and tomorrow left for special CD rates before it falls back down.

ETA: Just received a 200BTC deposit. Plenty more to lend.

If you're confused about the CD terms, I apologize. Feel free to PM me any questions (or PM theymos to ensure the [collapse] function is included in the forum update!).

[ETA: This wasn't in response to Vin]

https://bitcointalksearch.org/topic/closed-loan-request-110-bit-coins-62011

Celebrate my birthday with "special" birthday CDs all week. Each CD will return .5% greater percentage points per 30D the CD is out on principal. So, if a 30D CD and you take it out before the end of the week (2/5/12), instead of that CD paying the usual 2.5% + principal at the end of its 30D duration, it will now pay 3% + principal. 90D CDs, instead of paying 9.75% + principal when due, will now pay 11.25%.

Let me buy your love, then destroy you by abusing that trust!


ETA: I/O report for January is now finished and posted in spreadsheet listed near the top of the OP. January saw a profit of 4.677BTC after donating 5.198 BTC between IBB & BTC100.

That went quick. You guys sure know how to make a fellow feel poor. 

Quite interested in taking deposits if anyone's willing -- Have plenty of loan requests I'm unable to fulfill. I'll bump the thread when I have BTC to loan again. Assuming nobody's interested in buying CDs as I've outlined in the OP, it probably won't be for at least a week while I deal with a backlog of loan requests.

When I get a few more loans repaid, I'll be donating an amount to the extremely helpful moderator Maged, who has put in a good bit of time keeping this subforum free of scammers and alerting us to serious problems with people looking for loans. Both lendees and lenders are more able to prosper with mods like him helping ensure loans are going to people for the right reasons, and not because they hijacked an account. His donation address is 1MagedVeZqDtU4Jh5BdgvHpcWk9dXFzZY8 -- check out his Scammer alert thread @ https://bitcointalksearch.org/topic/scam-alert-old-accounts-coming-back-61500

Back open with BTC to lend. BTC to lend should be coming in rapidly after a few days for a couple months. I'm also now willing to accept deposits (see OP for rates). Will finalize the January "I/O report" when I wake up and start on February's report. Rates have been updated given new information on other lenders' loan performance. PPUSD/DwollaUSD loans are still disallowed until I'm at a ratio of USD:BTC I'm comfortable with ($11k in BTC does make me just a tad uncomfortable ).

Fwiw, I'll be sleeping, doing family stuff for 10h from posting, so see someone else if you're in need of a loan immediately. If you want a loan at listed rate, please follow the posted requirements and send me a PM.

Forgot to announce, BDK also pledges 2% loan profit (+ a 5BTC initial pledge) to BTC100. BTC100 was created to entice charities to accept BTC for donations.

hey guys, im a new user with ~22 bitcoins i dont plan on needing for a few weeks.  i was wondering how all this works and how i can set myself up to propose a loan in hopes to gain a little % in return an gain some reputation as well?

I believe my deposit (CD) terms are now adequate to function as I'd like without problem. I'd appreciate review, comments, criticisms. I should be ready to issue CDs and loans again within a week. (Edit: Might not be back by 29th)


(and thanks for the sticky!)

I agree with the sentiment behind this and will pm IBB to help support this.

Patrick
Starfish BTC thing

I like the name 

I'm announcing my continued support for a demand-free economy with a new IBB loan-matching program to go into effect the beginning of next month. BDK strongly supports a generosity-based economy, even if we're not quite ready for it, yet - I'd love to be a part of pushing us there.

Any loan IBB is willing to put money toward, contact me (after 2/1/12) and I will match their loan terms up to 5BTC for up to 21D. There is a maximum amount out toward these loans at any given time of 25BTC. (BDK is not in any way affiliated with IBB.)

I've added terms for deposits. Any thoughts? I'll probably end up making the dividend rate significantly more favorable for depositors in the future when I'm more sure of my profit margin, and reward "early depositors" - but no guarantees on that.

As well, 150BTC+ loans now require hoops be jumped through, and are only available to US residents. Monthly income/outgo reports will start being posted starting the beginning of next month. I'll try to clean up the OP today. May also be adjusting loan rates within the next couple days. Should have BTC to loan again around Thursday/Friday, but feel free to PM me prior.

ETA (1/23/12): IBB loan terms have changed. I will donate 3% of previous month's loan profits at the beginning of the next month. I also decided not to exclude older loans from the 3% donation. First payment to IBB will be made on 2/1/12.

Get ready to open your wallets! I'll be accepting deposits starting late next week. If someone wants a loan, and is a webdev handling PHP/SQL, I need a site. I have MS Paint images ready!  -- Until then, interest on deposits as well as withdrawals will be handled manually, meaning I'll only bother with 5BTC+ 14D+ loans.

I'd appreciate if someone gave me some rates/terms they'd find acceptable for deposits, knowing I have laid out a feasible way to maintain profit with what you deposit.

yes you can donate directly to me via pm, when you want to send just send me a pm and i will provide you with an address.

thank you

Oh -- Is there a way to donate directly, then?

Alright -- I'll send you a PM when the time comes. Should start getting new loans paid back mid-late next month.

thanks Kluge for the marketing gimmick, buying IBB shares. I dont get any extra BTC if you do buy IBB shares, but trading in IBB shares is good

I thought of that thinking about how high my electricity bill is for mining. I intended this to allow miners to loan against their future mining revenue to pay bills they have in USD. I do get the advantage of being able to chargeback, and because of that, might consider lowering the MPR for that particular transaction. It just depends how the third-parties would handle charge-backs in that situation. Paypal scares the Hell out of me, tbh. I'd be much more willing to fund a Dwolla account, which most miners probably already have, anyway, and it's BTC-friendly, while not exposing lendees to the risk of friendly fraud on my part. I'll update the OP.

Actually, wouldn't your borrowers be taking most of the PP risk? Theoretically, it should work reasonably well, since you will be building up trust and have a reputation to uphold here, so that should lower the perceived potential PP chargeback risk for borrowers. I might even be interested at some stage as a hedge. [Just saw it's only offered to miners.] It works a bit like a futures contract.