Topic: [BTCJam] 60 BTC Loan Pegged To MTGOXUSD 1% Per Week Interest (Read 1050 times)
Activated now - thanks everyone for your help
17 more BTC required until I can activate, any help would be appreciated
22 BTC now required before I can activate, any further investers are greatly appreciated.
I welcome any and all questions.
I welcome any and all questions.
Big thanks to everyone who has invested so far.
22.63752 more needed before I can fund (Only need 70% of the funds to be able to activate)
If you have any questions feel free to ask
22.63752 more needed before I can fund (Only need 70% of the funds to be able to activate)
If you have any questions feel free to ask
Just under 30 BTC now required before I can activate, thanks for all investers so far.
Thanks to everyone who has invested so far, still need more to go but just to reiterate - only need to get this to the minimum of 70% and I will activate!
No Blazr loaned $500 (approx 11.75 BTC) but BTCJam does not allow me to fund at less than 70%...
so I only need now 42 BTC and will fund it when it reaches that.
so I only need now 42 BTC and will fund it when it reaches that.
Thanks for the clarification
No Blazr loaned $500 (approx 11.75 BTC) but BTCJam does not allow me to fund at less than 70%...
so I only need now 42 BTC and will fund it when it reaches that.
so I only need now 42 BTC and will fund it when it reaches that.
Just for the sake of openness which I am all about - I have acquired two loans from members of this forum (Blazr and Wachtwoord).
I am still seeking additional funds to convert all my current BTC liabilities to USD so I am keeping this loan request open - but now I am able to fund this if it reaches 70% due to the funds already borrowed.
If anyone has any questions please feel free to ask.
I am still seeking additional funds to convert all my current BTC liabilities to USD so I am keeping this loan request open - but now I am able to fund this if it reaches 70% due to the funds already borrowed.
If anyone has any questions please feel free to ask.
I confirm this. I lent 15 BTC, payback over 26 weeks, pegged to the BTCUSD price.
How come you say you still need 70%? Did Blazr loan 5% (3 BTC) ?
Just for the sake of openness which I am all about - I have acquired two loans from members of this forum (Blazr and Wachtwoord). - Thank you very much guys!
I am still seeking additional funds to convert all my current BTC liabilities to USD so I am keeping this loan request open - but now I am able to fund this if it reaches 70% due to the funds already borrowed.
If anyone has any questions please feel free to ask.
I am still seeking additional funds to convert all my current BTC liabilities to USD so I am keeping this loan request open - but now I am able to fund this if it reaches 70% due to the funds already borrowed.
If anyone has any questions please feel free to ask.
Hi Wachtwoord, I can answer some of you questions but not all.
1. I assume also that when the loan is completed BTCJam will calculate the current value in mtgoxusd terms for the 60 BTC and that will be the dollar value, then it will calculate 1% interest weekly again in USD terms and that will be the amount I need to repay per week in btc using current mtgox price. I am not sure on this as I did not realise until today BTCJam had implimented loans tied to the dollar.
2. I assume it is when the loan is completed and I activate it, whether that be on March 19th or sooner if it fully funds before the deadline.
3. I am not sure, I am going to pm Tulkas to see if he can come into this thread and answer your questions.
BTCJam has no fees for lenders only borrowers and only deducts a small fee for the miners fee 0.005 or something similar afaik.
1. I assume also that when the loan is completed BTCJam will calculate the current value in mtgoxusd terms for the 60 BTC and that will be the dollar value, then it will calculate 1% interest weekly again in USD terms and that will be the amount I need to repay per week in btc using current mtgox price. I am not sure on this as I did not realise until today BTCJam had implimented loans tied to the dollar.
2. I assume it is when the loan is completed and I activate it, whether that be on March 19th or sooner if it fully funds before the deadline.
3. I am not sure, I am going to pm Tulkas to see if he can come into this thread and answer your questions.
BTCJam has no fees for lenders only borrowers and only deducts a small fee for the miners fee 0.005 or something similar afaik.
Thanks, no need to PM as I just figured out it is http://en.wikipedia.org/wiki/Fixed-rate_mortgage#Pricing
this equates to: 0.01/(1-(1.01^-26)) = 0.0438, so constant weekly payments of 4.38% of the initial outstanding principal.
I am quite certain this is correct as it matches the ฿2.63213 previewed weekly payment (assuming no exchange rate fluctuation).
Again thanks for the answers. I will likely fund but may postpone it a bit because a (small) hedge against a sell-off (one for which I will be paid) is a large part of my investment rationale and 12 days is a long time in this crazy market.
I am interested in taking on a small hedge which pays interest. How does this work exactly?
1. Am I correct in assuming both the principal and the interest will be paid according to the USDBTC rate at the time of taking out the loan?
2. At what exact time will the exchange rate be fixed? (at the time I fund, March 19, another time?)
3. How will the repayment proceed?
a) Only pay interest and repay pricnipal at maturation date
b) Continuously repay
If b) is the repayment plan to repay large amounts first and subsequently smaller amounts (due to outstanding principal declining)?
Finally, unrelated tot his loan. Will BTCJam impose fees on me? (for depositing, withdrawing, funding a loan or receiving interest)
1. Am I correct in assuming both the principal and the interest will be paid according to the USDBTC rate at the time of taking out the loan?
2. At what exact time will the exchange rate be fixed? (at the time I fund, March 19, another time?)
3. How will the repayment proceed?
a) Only pay interest and repay pricnipal at maturation date
b) Continuously repay
If b) is the repayment plan to repay large amounts first and subsequently smaller amounts (due to outstanding principal declining)?
Finally, unrelated tot his loan. Will BTCJam impose fees on me? (for depositing, withdrawing, funding a loan or receiving interest)
Hi Wachtwoord, I can answer some of you questions but not all.
1. I assume also that when the loan is completed BTCJam will calculate the current value in mtgoxusd terms for the 60 BTC and that will be the dollar value, then it will calculate 1% interest weekly again in USD terms and that will be the amount I need to repay per week in btc using current mtgox price. I am not sure on this as I did not realise until today BTCJam had implimented loans tied to the dollar.
2. I assume it is when the loan is completed and I activate it, whether that be on March 19th or sooner if it fully funds before the deadline.
3. I am not sure, I am going to pm Tulkas to see if he can come into this thread and answer your questions.
BTCJam has no fees for lenders only borrowers and only deducts a small fee for the miners fee 0.005 or something similar afaik.
I am interested in taking on a small hedge which pays interest. How does this work exactly?
1. Am I correct in assuming both the principal and the interest will be paid according to the USDBTC rate at the time of taking out the loan?
2. At what exact time will the exchange rate be fixed? (at the time I fund, March 19, another time?)
3. How will the repayment proceed?
a) Only pay interest and repay pricnipal at maturation date
b) Continuously repay
If b) is the repayment plan to repay large amounts first and subsequently smaller amounts (due to outstanding principal declining)?
Finally, unrelated tot his loan. Will BTCJam impose fees on me? (for depositing, withdrawing, funding a loan or receiving interest)
1. Am I correct in assuming both the principal and the interest will be paid according to the USDBTC rate at the time of taking out the loan?
2. At what exact time will the exchange rate be fixed? (at the time I fund, March 19, another time?)
3. How will the repayment proceed?
a) Only pay interest and repay pricnipal at maturation date
b) Continuously repay
If b) is the repayment plan to repay large amounts first and subsequently smaller amounts (due to outstanding principal declining)?
Finally, unrelated tot his loan. Will BTCJam impose fees on me? (for depositing, withdrawing, funding a loan or receiving interest)
Hi Projects,
I've just read your PM's now, been bombarded by PM's lately so sorry for not replying.
I'll be funding some of this loan tomorrow.
I've just read your PM's now, been bombarded by PM's lately so sorry for not replying.
I'll be funding some of this loan tomorrow.
Thank you very much
Looking to consolodate some of my current BTC debt and convert it to fiat to limit my losses due to heavy price fluctuations.
https://www.btcjam.com/listings/2286
Have a huge history of borrowing/trades with no unresolved issues, feel free to check my post history and I am sure you will be satisfied.
Never missed a payment on any loans, usually paid early sometimes months in advance.
Any questions please feel free to ask - credit / id / address all verified with 7 previous loans all repaid, 1 outstanding (On BTCJAM) which will be repaid with this loan.
https://www.btcjam.com/listings/2286
Have a huge history of borrowing/trades with no unresolved issues, feel free to check my post history and I am sure you will be satisfied.
Never missed a payment on any loans, usually paid early sometimes months in advance.
Any questions please feel free to ask - credit / id / address all verified with 7 previous loans all repaid, 1 outstanding (On BTCJAM) which will be repaid with this loan.
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