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Topic: CANCELLED 4.85 BTC loan to seed tech dev company in Namibia - page 2. (Read 3362 times)

hero member
Activity: 728
Merit: 500
Block erupters are not profitable.

Yes I know that, I'm not buying them to make ROI solely from them. Maybe you should re read the post.

Why do you want to buy so many BEs then?  If you don't want to make ROI, make money, then what do you want to do? Tongue

Is the rationale of starting a bitcoin based business with an interest in investing and mining, to actually have bitcoins? If you think yes then I think you can follow my logic when I stated: I am fully committed to starting a bitcoin mining/investment/useable tech company for southern Africa.

That means having a viable means of generating bitcoin, even if it is below ROI.

Hope that answers.

Edit:

Please also notice that I mentioned USB BE's OR 2 Blades, not both. I think it goes without saying that I would prefer to purchase blades.

So you're trying to borrow BTC, which you will spend on BE's which in turn will give you a steady income for a total amount of less BTC than you borrowed. In what universe does this make sense? What value does it add to your company that it has a few units hashing and never making a profit?
legendary
Activity: 1736
Merit: 1029
Buying 30 BEs will make you around $6 USD a day, without electricity costs or anything.  How is that a business?  I'm not trying to bring it down, I'm just wondering.
full member
Activity: 140
Merit: 100
BTC in Namibia
Block erupters are not profitable.

Yes I know that, I'm not buying them to make ROI solely from them. Maybe you should re read the post.

Why do you want to buy so many BEs then?  If you don't want to make ROI, make money, then what do you want to do? Tongue

Is the rationale of starting a bitcoin based business with an interest in investing and mining, to actually have bitcoins? If you think yes then I think you can follow my logic when I stated: I am fully committed to starting a bitcoin mining/investment/useable tech company for southern Africa.

That means having a viable means of generating bitcoin, even if it is below ROI.

Hope that answers.

Edit:

Please also notice that I mentioned USB BE's OR 2 Blades, not both. I think it goes without saying that I would prefer to purchase blades.
legendary
Activity: 1736
Merit: 1029
Block erupters are not profitable.

Yes I know that, I'm not buying them to make ROI solely from them. Maybe you should re read the post.

Why do you want to buy so many BEs then?  If you don't want to make ROI, make money, then what do you want to do? Tongue
full member
Activity: 140
Merit: 100
BTC in Namibia
Block erupters are not profitable.

Yes I know that, I'm not buying them to make ROI solely from them. Maybe you should re read the post.

Nowhere does it say why you think that buying Block Erupters will be a good idea.

The facts are very simple. If you have 1 BTC and you spend it on BEs, you will receive less than 1 BTC of mining income. Sure you can use what income you get to invest and try to profit from investments. But if you just kept your 1 BTC and invested it immediately you'd have more BTC.

Your offer of 5% of the loan as collateral in the form of BTC is pointless. The whole purpose of collateral is something for the loan-giver to keep / sell when the loan isn't paid back. Consequently, the value of the collateral needs to be at least as much as the amount loaned for it to be useful.

I understand what you are saying but I think you're not putting what I've posted into context. I've added some text to help clarify.
full member
Activity: 140
Merit: 100
BTC in Namibia
I have made one loan under a year ago of 5btc which I have repaid ( see https://bitcointalksearch.org/topic/m.1135399 ). My national ID details are attached to that post. I can provide further verification where needed.

your national ID does not load and i see no TX info or proof of repayment.

check yet again, negotiating was done over PM. Added TX info to post.
hero member
Activity: 728
Merit: 500
Block erupters are not profitable.

Yes I know that, I'm not buying them to make ROI solely from them. Maybe you should re read the post.

Nowhere does it say why you think that buying Block Erupters will be a good idea.

The facts are very simple. If you have 1 BTC and you spend it on BEs, you will receive less than 1 BTC of mining income. Sure you can use what income you get to invest and try to profit from investments. But if you just kept your 1 BTC and invested it immediately you'd have more BTC.

Your offer of 5% of the loan as collateral in the form of BTC is pointless. The whole purpose of collateral is something for the loan-giver to keep / sell when the loan isn't paid back. Consequently, the value of the collateral needs to be at least as much as the amount loaned for it to be useful.
sr. member
Activity: 322
Merit: 250
I have made one loan under a year ago of 5btc which I have repaid ( see https://bitcointalksearch.org/topic/m.1135399 ). My national ID details are attached to that post. I can provide further verification where needed.

your national ID does not load and i see no TX info or proof of repayment.
full member
Activity: 140
Merit: 100
BTC in Namibia
Block erupters are not profitable.

Yes I know that, I'm not buying them to make ROI solely from them. Maybe you should re read the post.
full member
Activity: 182
Merit: 100
Fourth richest fictional character
Block erupters are not profitable.
full member
Activity: 140
Merit: 100
BTC in Namibia
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