CLOSED | Bitcointalksearch.org

Projects

hero member

Activity: 504

Merit: 500

Quote from: LoweryCBS on April 02, 2013, 08:37:32 AM

Quote from: Projects on April 02, 2013, 08:31:13 AM

Yes I agree, which is why I am trying to lock in my outstanding BTC debt tied to the dollar - Ian could have handled this better

Whereas you'd eat Ramen noodles for a month before you'd be 2 hours late on a payment, Ian didn't even bother making an low-ball offer to his lenders.

You might suffer a bit financially now, but you'll reap the financial benefits of impeccable credibility later. You and Ian are not even members of the same genus.

Yes this is true.
I can honestly sympathise with his situation but really very very badly handled.
Ian you should man up and talk to your investors and try to work something out instead of burying your head in the sand.

LoweryCBS

sr. member

Activity: 364

Merit: 250

firstbits 1LoCBS

Quote from: Projects on April 02, 2013, 08:31:13 AM

Yes I agree, which is why I am trying to lock in my outstanding BTC debt tied to the dollar - Ian could have handled this better

Whereas you'd eat Ramen noodles for a month before you'd be 2 hours late on a payment, Ian didn't even bother making an low-ball offer to his lenders.

You might suffer a bit financially now, but you'll reap the financial benefits of impeccable credibility later. You and Ian are not even members of the same genus.

Projects

hero member

Activity: 504

Merit: 500

Yes I agree, which is why I am trying to lock in my outstanding BTC debt tied to the dollar - Ian could have handled this better

Korbman

legendary

Activity: 1064

Merit: 1001

Quote from: Projects on April 02, 2013, 05:26:18 AM

I do not think it was his intention but I think he has been forced into this situation by the rise in USD/BTC.
This does not make it right and I do not condone his actions - I am in a similar position, albeit for 15% of the value however I am repaying what I borrowed!

I, too, am in a similar position on some of my loans...but who would have ever known that BTC would be over $100 a few months later?

Ian, if you're reading this, I get the situation you're in and I'm totally willing to negotiate (publicly or privately).

Projects

hero member

Activity: 504

Merit: 500

I do not think it was his intention but I think he has been forced into this situation by the rise in USD/BTC.
This does not make it right and I do not condone his actions - I am in a similar position, albeit for 15% of the value however I am repaying what I borrowed!

zebedee

donator

Activity: 668

Merit: 500

It seems Ian logged on to wipe the loan terms. I suspected this might happen hence why I grabbed them in my post.

He's obviously intent on scamming now.

MoonShadow

legendary

Activity: 1708

Merit: 1010

I'm growing concerned...

wholesaler

full member

Activity: 196

Merit: 100

Quote from: ianbakewell on February 26, 2013, 06:05:01 PM

I have a couple more private pledges to collect this evening and I will be good to go. Thanks for the help everyone

im very sorry if i didnt have all my coins tied up in a few deals i'd jump on this

LoweryCBS

sr. member

Activity: 364

Merit: 250

firstbits 1LoCBS

I figured it out: it's 9 payments.

Quote from: LoweryCBS on February 25, 2013, 08:12:36 PM

Question regarding the BTCJam listing:

It's ฿39.43380 every 7 days, but the term is 60 days.

Try as I might, I can't calculate the ROI.

For example: What would a ฿100 investment on the BTCJam listing yield (total return) after 60 days?

(I understand that each payment would be ฿39.43380/3 = ฿13.1446, but how many payments? 8? 9?)

🏰 TradeFortress 🏰

vip

Activity: 1316

Merit: 1043

👻

Got my PM?

LoweryCBS

sr. member

Activity: 364

Merit: 250

firstbits 1LoCBS

Question regarding the BTCJam listing:

It's ฿39.43380 every 7 days, but the term is 60 days.

Try as I might, I can't calculate the ROI.

For example: What would a ฿100 investment on the BTCJam listing yield (total return) after 60 days?

(I understand that each payment would be ฿39.43380/3 = ฿13.1446, but how many payments? 8? 9?)

Korbman

legendary

Activity: 1064

Merit: 1001

I've got no problem lending some money, I know you're established here.
I am curious, however, as to the APR. Why so much for such a short lived and simple investment? If you were a newbie here we'd shut you down in an instant Cheesy

My biggest concern comes from the "what if" scenarios, specifically if the projects don't pay off as expected? Or is it really just an "I have the money, just not at the moment..which is why I asked the community" sort of thing?

I'll send a PM shortly.

zebedee

donator

Activity: 668

Merit: 500

Quote from: ianbakewell on February 24, 2013, 07:44:58 PM

I am looking to borrow BTC600 and repay you over the next two months at 3.5% per week.

I would prefer to take the loan from as few people as possible, maybe 10 loans of BTC60 I would personally look over, otherwise I will go about creating a listing at btcjam or bitfunder etc
(would need a platform to manage if many small loans end up making the total)
So let's see if I can borrow BTC600 from 10 or so people here before I need to make a listing. Please post here / PM me if interested.

Payment schedule as follows:

March 1- borrow 600
March 8- owe 621
March 15- owe 642.735
March 22- owe 665.230725
March 29- owe 688.5138 / 8 = 86.0647 payment = 602.4491 leftover
April 5- owe 623.5348 / 7 = 89.0764 payment = 534.4584 leftover
April 12- owe 553.1644 / 6 = 92.1940 payment = 460.9704 leftover
April 19- owe 477.1043 / 5 = 95.4208 payment = 381.6832 leftover
April 26- owe 395.0421 / 4 = 98.7605 payment = 296.2816 leftover
May 3- owe 306.6514 / 3 = 102.2171 payment = 204.4343 leftover
May 10- owe 211.5895 / 2 = 105.7947 payment = 105.7947 leftover
May 17- 109.4975 final payment

600 borrowed, 776 paid back

I should have no problem repaying this as long as BTC stays bellow $41.66 ... if it goes above we would need to work something out for a bit more time to repay.

Good luck!

21after2

member

Activity: 112

Merit: 16

What do you need BTC600 for? Huh

ianbakewell

full member

Activity: 224

Merit: 100

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Topic: CLOSED (Read 2696 times)