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Topic: demanding loans BTC/LTC/USD (Read 1201 times)

leen93

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Merit: 250

Quote from: Quickseller on December 01, 2014, 02:15:55 PM

Quote from: leen93 on December 01, 2014, 01:48:37 PM

Quote from: Quickseller on December 01, 2014, 01:35:12 PM

You are offering ~5% of what would be earned via bitfinex and I think it would be very unlikely that interest rates would crash that low.

the current rate is 0.07% a day i see, suppose you could offer this swap 24/24, 7/7 (which is far from certain) you'll get less than 0.50% a week, I'm offering 0.20% a week, far more than 5% of bitfinex.

i may have made a mistake here but you are still making much less lending to you then you would on bitfinex based on your numbers 2.5 times as much on bitfinex
Edit: also I believe you can set it up so anytime a swap is closed bitfinex will automatically open a new swap at the flash rate so you can lend 24/7 /edit

Quote from: Quickseller on December 01, 2014, 01:35:12 PM

If you pay a standard fee of .0001 and lend you .5 then it would take a week to make the fee back in interest.

0.5 * 0.2/7% = 0.000143 a day (on average if you are lending usd), it takes you less than 1 day to earn the tx fee of 0.000143, not a week... so loaning small amounts is still possible but if nobody wants to do that, fine...

your math is flawed. If you are offering .02% per week (as you stated for your btc/ltc rate) then you will earn .0001 btc per week if someone lent .5 btc. Your minimum however is much lower then that and from what I have seen you are more likely to attract lenders who can afford to lend less then .5 btc (based on amounts available for lending on other lenders' threads).

I also do not see the point of you borrowing potentially small amounts like this. You claim to be buying Bitcoin on an exchange in order to borrow Bitcoin that you will then sell on an exchange and will proceed to buy Bitcoin on an exchange to repay the loan.

what i do with the borrowed things is my case, collateral provides enough safety for the one who provides the loan. and i was talking about a usd loan

Quickseller

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Quote from: leen93 on December 01, 2014, 01:48:37 PM

Quote from: Quickseller on December 01, 2014, 01:35:12 PM

You are offering ~5% of what would be earned via bitfinex and I think it would be very unlikely that interest rates would crash that low.

Quote from: Quickseller on December 01, 2014, 01:35:12 PM

If you pay a standard fee of .0001 and lend you .5 then it would take a week to make the fee back in interest.

0.5 * 0.2/7% = 0.000143 a day (on average if you are lending usd), it takes you less than 1 day to earn the tx fee of 0.000143, not a week... so loaning small amounts is still possible but if nobody wants to do that, fine...

RiverBoatBTC

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VOD finish him lol Cheesy

leen93

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Activity: 616

Merit: 250

Quote from: RiverBoatBTC on December 01, 2014, 01:58:36 PM

dude will you quite already you post a new fucking loan everyday...........

i'm also searching for ltc and btc now

RiverBoatBTC

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dude will you quite already you post a new fucking loan everyday...........

leen93

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Activity: 616

Merit: 250

Quote from: arvindr on December 01, 2014, 01:39:33 PM

You mention that you offer a 120% of the price as collateral.

What collateral would that be?

in case of usd i can offer btc as collateral, in case of btc i can offer more or less stable altcoins (like peercoin, darkcoin, ripple...)

leen93

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Activity: 616

Merit: 250

Quote from: Quickseller on December 01, 2014, 01:35:12 PM

You are offering ~5% of what would be earned via bitfinex and I think it would be very unlikely that interest rates would crash that low.

Quote from: Quickseller on December 01, 2014, 01:35:12 PM

If you pay a standard fee of .0001 and lend you .5 then it would take a week to make the fee back in interest.

arvindr

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You mention that you offer a 120% of the price as collateral.

What collateral would that be?

Quickseller

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Quote from: leen93 on December 01, 2014, 12:50:19 PM

I don't know about the current fees there, but yes, but what if bitcoin value goes down hugely? Then you are screwed if you are on bitfinex,

you can lend out your bitcoin, you don't have to lend your fiat.

Quote from: leen93 on December 01, 2014, 12:50:19 PM

what if bitfinex runs away with everything... what are you going to do, visiting their fake offices in HK to ask your btc back Cheesy

The same is said with any escrow that is used but bitfinex has a longer history then most escrow providers and they also have more experience holding much more money then any escrow provider.

Quote from: leen93 on December 01, 2014, 12:50:19 PM

If I'm right fees can change there and swaps cancelled all the time giving you a much lower intrest than you expect now. With me you don't have those risk so i think my intrest rates are fair

The interest rate market is stable enough for this to not be an issue. You are offering ~5% of what would be earned via bitfinex and I think it would be very unlikely that interest rates would crash that low.

Quote from: leen93 on December 01, 2014, 12:50:19 PM

+ if amounts or not that small you don't have to use fees to send bitcoin and for smaller amounts like 5mbtc (min. to loan me) a fee of 0.01 mbtc is also enough to confirm which is earned back in a few days with USD loan and some websites offer free withdrawals

If you pay a standard fee of .0001 and lend you .5 then it would take a week to make the fee back in interest. This is the lowest amount that someone can break even after paying the TX fee in a week with your interest rates. If a fee is not included then it could take a long time to confirm and seeing how you are with offering fair terms I would say there would be a good chance you would claim it is taking too long to confirm and would send the funds back....with a fee (that would then now be required for the miners to likely confirm - not enough bitcoin days destroyed to qualify for a free TX)

leen93

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Activity: 616

Merit: 250

I don't know about the current fees there, but yes, but what if bitcoin value goes down hugely? Then you are screwed if you are on bitfinex, what if bitfinex runs away with everything... what are you going to do, visiting their fake offices in HK to ask your btc back Cheesy

? If I'm right fees can change there and swaps cancelled all the time giving you a much lower intrest than you expect now. With me you don't have those risk so i think my intrest rates are fair

+ if amounts or not that small you don't have to use fees to send bitcoin and for smaller amounts like 5mbtc (min. to loan me) a fee of 0.01 mbtc is also enough to confirm which is earned back in a few days with USD loan and some websites offer free withdrawals

Quickseller

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Activity: 2996

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.02% per week? That is well under the daily rate on bitfinex. It would also not even cover the tx fees on smaller loans.

This is also a duplicate thread.

leen93

sr. member

Activity: 616

Merit: 250

Hi!
I'm searching for some loans
min. 0.005 BTC, 1 LTC, 2$
max. 5 BTC, 500 LTC, 2000
120% collateral can be provided to a trustworthy escrow
Intrest rates:
BTC/LTC : 0.02% a week
USD : 0.20% a week (can be sended in BTC/LTC too)