Topic: btc loan WITH COLLATERAL (Read 1472 times)

Great of you to get involved and cause drama over something you say you dont want drama in? Hypocrite much?

Anyways I forgot to lock this thread as I have secured actual funding for more than I wanted to hedge for with an 11 APY, thats fucking 11 percent A YEAR you god damn parasites. Only issue is that I had to pay a 500 dollar origination fee, but whatever the banks always win in the end.

Thank god for the SALT ICO it will put all these loan sharking schemes out of business.

If banks do this and banks do that... then it's really simple: Just go to a bank and get the loan, there is no need of so much drama from your part.

You shure complain a looot, but the truth is that nobody aproached you to offer you a loan, but you asked one. The lenders presented their offers so you can take it or leave it. Another issue with your loan request is that you requested it on this forum, so you should have no problem accepting an escrow from this forum.

Anyway, you act like a child, complaining and creating so much drama about unfair rates. Nobody is forcing you to do anything that you don't want. I too think that some things are way to expensive, but I don't go into the shop, ask the seller to present his offer and then start yelling that his prices are to high. If I find miself in this situation, I simply walk away. I suggest you act like a grown person and do the same (but maybe you are just a child seeking atention and in this case you will continue your drama, we will just have to see..)

Ahh I'm sorry I forgot to point out the wonderful highlighted portion of your initial response.

Your true incompetence shines bright right there buddy. A loan is a favor?

A loan with NO INTEREST IS A FAVOR.

A loan WITH interest is NOT A FAVOR, I swear the mental acuity of some people here is amazing.

Youre right I should subject myself to the 18 percent interest rates charged weekly by the lenders here because that is the precedent set here right? Just go with the herd mentality.

I'm not forcing anyone to lend me money, if you want 5 percent then great we can work it out. If you dont then ok, its a free market, a free world, a free society at least the one I live in. Idk about you.

Ahh here we go. We have ourselves an online detective versed in the psychology and motives of others. I guess you couldnt quite cut it in the academy so your only means of work is the investigative one you do online now huh?

Inspector Clouseau let me make something clear to you as I can see why you were not allowed to be a real life detective. ESCROW PREVENTS FRAUD. I have picked a website with over 600 trusted escrow agents that the lender can choose from.

https://www.bitrated.com/explore


MY ETH at 120 ltv is worth more than the BTC. There is no god damn risk, how are you so clueless?


So I want to borrow BTC because I dont want to sell or exchange my eth and in your astute mind this constitutes something fishy? Bravo INSPECTOR BRAVO!!!

My PM is filled with assholes trying to tell me that I should trust them by sending them ETH directly and then I go and check their trust rating and its pure shit with scandals and fraud.

if you need me to define the word escrow for you here,

"a bond, deed, or other document kept in the custody of a third party, taking effect only when a specified condition has been fulfilled."




I eagerly await your response Clouseau

Petulance. Is it? I'm asking because I have a feeling your true intention is to dishonestly misappropriate someone else's bitcoins. It's as if one can smell, sense and feel that you want this loan WITHOUT parting with your ETH. The thread has advanced to such a pregnant state of disarray about interest and escrow issues.

Lenders should be vigilant and alert about any underlying motives behind all this talk about escrow being held by an external person or entity. He claims he can't trust reputable lenders and escrow providers on this platform. He argues endlessly about interest rates and escrow fees while forgetting that he wants a loan. A loan is a favour extended to a borrower and not a right. In summary, he wants that loan with a near-nil interest rate, no escrow fees and escrowed by an external person or entity. He want the convenience of a loan while inconveniencing the lender as much as possible.

Borrow from a bank instead and impose your conditions on them. Sure, they'll be receptive. Right.

 

Some bitrated escrow are NOT anonymous, an example would be charlie lee of litecoin fame.

This is so pointless going back and forth with you. You have provided no insight into anything but rather a means to justify why you have the deplorable business practices that you do charging 18 percent interest a week. Whatever helps you justify sleeping at night in order to justify your way of making money I guess. Just dont try to pass off your bullshit off to me. I did not engage you, you engaged me.

I have no intention of ever getting a loan from you, a fucking actual loan shark who would break your knee caps would be more honorable than your ass. At least with them there is some risk taken, unlike you and your 120 ltv loans.

The last point about banks laughing at alt coins is circular logic as you brought it up then did a straw man argument against it all in one sentence. Bravo lol

As if you are bestowing some highly coveted information to the inner sanctum of banks and the fact that they dont lend based on alt coins, thank you for that. If you had not said so NO ONE would of known!!!


Really should of made this a self moderated post, so I dont have to put up with the petulance from some people 

I did not offer to lend you. Just explaining to you why the interest rates.


How was that moot? That point is the only place you can get a loan using your altcoins is this forum.

Same thing, most escrows are anonymous.


It is not contradictory. What I stated are just facts. Whether you deal with an escrow or a lender, the risk of the person running is still there.


Again, I did not offer to lend you.

Hmm great points to make sense of why you gouge people so much in interest. Its nice to see you justify to yourself why you charge people so much money, all predicated on the "volatility of cryptos." If you had paid attention I stated I was pegging the fiat to the btc and paying back a guaranteed 5 percent.  Dont be mad that there are some people who dont want to deal with your crappy loan interests.

Ya and if you go to a bank and say you have eth theyll laugh but if you go and say oh hey i want to pay 180 percent apy they'll also laugh. So your point is moot.

And ya I'm paranoid to just send my eth to someone because like you said everything is anonymous so I'm trying to have verification and prevent any scams that could take place.


Contradict yourself much? Wtf? lol

In any case I dont come on your posts and tell people that you're ripping them off so stay off my posts, thanks 

You have trust issues dude. If the lender is trusted why would you not send the ETH to them?
If you check the history of the forum you'll see even trusted escrows had ran with the stuff they were trusted with.
And, oh please 1btc = $4,000? Lenders here have held far more than that and the borrowers completely trusted them.

---

Uhm, they will not loan you if you did not give collateral or that your credit standing is shit or that generally they think you don't have the capacity to pay.
Likely, if you go to a bank and said "I have ETH as collateral, they'll laugh at you and tell you to go away".

The principle why people charge a high interest here on the forum is that there is really high risk for the following reasons:

1. Everybody is anonymous. No one knows how to reach anybody in case anyone defaults.
2. Altcoin and even bitcoin is super volatile, a minute ago you are holding 1btc next thing you know you don't even have half of it.
3. Profits in the cryptocurrency industry is far more than 5% per month, you can check the stats for yourself.

Let me know if anything changes and I can evaluate if this would still be something I would be willing to pursue.

If anyone wants to do this deal which will be guaranteed to yield them 5 percent let me know.

We will confirm a well written summary detailing everything and anything encompassing the transaction. This summary will be made available on the bitrated site, the escrow will hold the eth funds.

In case of default you win the eth.

I will pay you back in btc as I value my eth more than I do btc, so in either way you will see a profit.



No I will not send you my eth directly to hold for escrow, there needs to be a 3rd party for holding as the chances of scamming me are too great if I just send you the eth directly. So please stop asking and telling me you are "trusted enough" to receive eth directly.

Eth is up just 20 percent today 

BTC has dropped more than eth has lol

I should be able to do this for you within 48 hours or so.

You previously indicated you would accept 5% interest, which is something I would agree to.

I would however ask that I hold your collateral. I have successfully held more money than this multiple times in the past. I would generally agree that a bitrated escrow would probably be more secure than a forum escrow, however I have not used any of these escrow services in the past, and would prefer to start with smaller transactions with someone I have not dealt with before.


I would point out that the price of etherum has declined more than 20% in the past, so this is not risk free for the lender.


I would agree to allow you to use a portion of the collateral to repay the loan plus interest if that is what you want to do (this may have negative tax implications for you, depending on your specific situation and jurisdiction).

And to address your second point.

The entire concept of interest is predicated on risk. Banks charge interest rate on money that is unsecured and thus require a higher percentage back.

On this forum you HAVE collateral that is 120 LTV. Which means you literally have no risk, unless someone starts a nuclear war and cryptos go to shit or some major catastrophic event happens.

So to justify the fact that collateralized loans go for such high interests doesnt not bode well in this argument. If anything collateral debts should require less interest because they are guaranteed, and even if someone defaults the lender would get 20 percent more.

It is essentially a win win for the lender. You default they collect. You pay back they still collect.

No I'm trying to peg fiat currency to the current rate of btc when we negotiate the deal.

i will be paying back in BTC.

Problem I see mainly is youre comparing people on this forum to a lending service from a bank. Thats not how it works here. Sure you can try to give an offer, but dont try to mix the two together. Even in your OP, you want to pay the loan back in fiat currency. Are you paying it back in btc with the payment being locked to fiat or are you trying to pay it back in fiat purely?


Just to quickly comment on this, it doesnt matter if you have "normal/fair interest rates" because youre dealing with a currency that is irreversible and pretty much impossible to track. People have ran away with as much as a dollar. So youre more than welcome to start lending here, but be warn, if youre not careful, you will end up like others who started lending on here who thought lenders were "unfair" and wanted to try to be fair to others and got scammed out of their coins due to them not taking collateral. To be fair, people who lend wants to also get paid base on the risk, with or without collateral. So yes, you will see interest being more than you would see on some p2p sites or even at a bank.

Also you can pick people that charge a fee if you want. It is the consumers prerogative to find agents that do not charge fees.

This is akin to saying oh just pay any interest on your credit card dont shop around for the best rates?

Some really silly logic on here smh.

not true i would actually say that a website build primarily on the basis of escrow is way more safer than forums.

people on bitrate that are agents have to be verified and vouched for using their real world credentials. there are many instances of mistrust and scams from people on this forums. Bitrated uses a multisig smart contract.

It is silly to say a company build on a trust platform that aims to provide fraud prevention and consumer protection mechanisms for bitcoin is LESS safe than anonymous members on a Forum.


Kinda like saying oh hey dont trust best buy but you can totally trust the tv this random guy is selling out of the trunk of his car in the parking lot. 

Because it's safer.

why pay a fee when its free?

People here would prefer using an escrow from this forum. Whats wrong with paying escrow fees?

you can pick any agent you feel comfortable with

https://www.bitrated.com/explore

but i would prefer the number 1 guy as opposed to charlie lee (founder of litecoin) because charlie charges a fee whereas others do not lol

Yes I would do this deal. Who would hold the collateral? I dont want to pay escrow fees, bitrated has escrow with no fees.

I'd be able to fill this but i'd need to convert my fiat into bitcoin which wouldn't be worth a hassle and fees for just a few hundred dollars profit. The spreads incurred are probably going to result in more than that.

If you want to do like a bigger loan timeframe then i'd be willing to negotiate with you.

And yeah, interest rates are high here because of the fact that altcoins are volatile and even if you hold altcoins as collateral you may end up losing money.

I can fill your loan (4k$) , for the % , I would take 5% per month
Tell me if you're interested

to be honest now i know why most of the people here requesting loans here end up as scammers. 15 percent comes out to 180 apy. there are laws in the us prohibiting pay day loans from charging crazy interest rates, but i guess in the marketplace on this forum its the wild wild west.

everyone has a free choice here, but the entire reason banks lend money is predicated on risk and because of this risk they earn high interest. take a credit card for example that can have a 30 percent apy, it is unsecured debt.

this forum seeks 120 ltv, is secured collateral, and on top of this charges high interest.

its literally loan sharking except even loan sharks dont have collateral they just come beat you when you cant pay lol.

fortunately for me i'm not desperate i was just looking to hedge some bets with the market.



this is strictly my opinion, but if you want this marketplace to be less swarmed with scammers and thieves then it should charge normal/fair interest rates. No one who has the intention of paying back money would ever agree to being fleeced this bad.

i myself might start a lending practice and offer fair rates. the free market really is the wild wild west at times.

shit we didnt even have child labor laws until the 1930s meaning when left unchecked, businesses will do anything

Really? 15% for a month I think fair enough. If him didn't interested with my offer, him can ignore these. I can do to keep my money at bitcoins. It's seems promises for over 15%

Are you a thief? 15% as interest is really crazy.

23 ETH or equal with $5750 (ETH current price).
Fyi, most people only willing to lend their money if collateral worth at least 120% from the loan amount. It's mean you can only get loan max $4791

P.S i'm not interested to give you loan

I can fill your ask up to $4K, with terms fixed interst (15%). Let me know if you interest

hey guys need  btc.

i can offer my eth as collateral.

i will pay you back in nominal dollars because of the insane swings of btc, so if btc goes up to 5k i dont want to be stuck paying 1 btc when i only borrowed 0.75 that would be a 1200 interest at the 3800 price today. so we peg fiat currency to the rate of btc you are lending me today and use that as a reference.

i will need 30 days to repay back, let me know what interest rates seem fair