[FULL COLLATERAL] "Up To 57 day loan."

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: Welsh on October 07, 2013, 05:49:33 PM

Quote from: theonewhowaskazu on October 07, 2013, 05:40:06 PM

Quote from: Welsh on October 07, 2013, 05:04:24 PM

How could we proof that the person you lent to actually paid you back?

I would have given you the credentials to the Bitfinex account. You could have just logged in and checked whenever you want. ~.~

Whats the big deal? I was literally going to give you what would have been practically guaranteed non-liquid Bitcoins as collateral for a liquid-Bitcoin loan. What could I have possibly given you as collateral that could possibly have been as low-risk to you as that?

Given us the credentials is nothing, the loan could still default.

Its a bitfinex loan for leverage. That means there's 120%+ Bitcoin-based minimum at all times else a margin call. Do you really think its going to default?

Quote

You could offer domains, hardware etc. Something which you can transfer to the person offering the money.

Do you have any idea how much more risky that would be? I'm going to offer domains? And how exactly are you going to sell these random domain names? Hardware? I've been trying to sell my server since a month ago with no luck. Yea, I'd be happy to use my server as "collateral" for a Bitcoin loan.

Welsh

staff

Activity: 3304

Merit: 4115

Quote from: theonewhowaskazu on October 07, 2013, 05:40:06 PM

Quote from: Welsh on October 07, 2013, 05:04:24 PM

How could we proof that the person you lent to actually paid you back?

I would have given you the credentials to the Bitfinex account. You could have just logged in and checked whenever you want. ~.~

Whats the big deal? I was literally going to give you what would have been practically guaranteed non-liquid Bitcoins as collateral for a liquid-Bitcoin loan. What could I have possibly given you as collateral that could possibly have been as low-risk to you as that?

Given us the credentials is nothing, the loan could still default. No risk is a good deal not "low" risk.

You could offer domains, hardware etc. Something which you can transfer to the person offering the money.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: Welsh on October 07, 2013, 05:04:24 PM

How could we proof that the person you lent to actually paid you back?

I would have given you the credentials to the Bitfinex account. You could have just logged in and checked whenever you want. ~.~

Whats the big deal? I was literally going to give you what would have been practically guaranteed non-liquid Bitcoins as collateral for a liquid-Bitcoin loan. What could I have possibly given you as collateral that could possibly have been as low-risk to you as that?

Welsh

staff

Activity: 3304

Merit: 4115

How could we proof that the person you lent to actually paid you back? You could just say he/she didn't and be away with our money. No thanks. Beware of this to any potential lenders.

Please provide collateral which you actually have in possession.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Gee, you guys are all so fucking vindictive all the time. Talk about guilty until proven innocent mentality. Anyway, while the forum was down the guy closed his loan and I have my money back, so this thread is now meaningless.

monbux

legendary

Activity: 1736

Merit: 1029

Quote

I clearly can't scream scam as I'm telling you all right here.

Well, CLEARLY you aren't scamming, because we'll just take your word for it.

AC130AS

newbie

Activity: 56

Merit: 0

As long as vod is in these forums, he continues to attack new users and make himself look like a hero. and you just made a big mistake by letting this prick get a hold of you. Undecided

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: Vod on October 01, 2013, 11:07:40 PM

Quote from: theonewhowaskazu on October 01, 2013, 10:39:06 PM

I lent out $430 on Bitfinex at 31%, however I just realized I need Bitcoin. So, I suddenly need that $430 back. I'm willing to use that $430 loan as collateral for a $430 loan to me payable in Bitcoin. I'll pay you an equivalent of 0.1% daily SIMPLE interest (NOT compound), higher than I'm getting, and higher than the current Bitfinex rate, on the US DOLLAR balance of my loan. I reserve the right to be able to repay early, including when the $430 loan is returned on Bitfinex. While I have access to your BTC you'll have full & exclusive access to my Bitfinex account. For exchange rate, I use Bitstamp.

Example:
When BTC is worth $125, you agree to the loan. You send me 3.44 BTC, and I send you my Bitfinex account credentials. 12 days later, my loan is repaid. I pay you 1.2% interest, plus principal = $435.16 in BTC at whatever the Bitstamp exchange rate is at the time.

I'll pay all transaction fees, but not any exchanger fees you incur for the purchase/sale of the Bitcoins you send/receive from me.

You can't use that as collateral. You can scream scam or use other social engineering tactics to get your Bitfinex account back after you get the coins.

I clearly can't scream scam as I'm telling you all right here.

Also, as for this being a supposed hedge against default on other loan, that other loan is secured (as are all loans in Bitfinex) so the chances of it becoming problematic are close to 0.

cp1

hero member

Activity: 616

Merit: 500

Stop using branwallets

It looks like you just want to hedge against defaulting on this other loan.

Vod

legendary

Activity: 3668

Merit: 3010

Licking my boob since 1970

Quote from: theonewhowaskazu on October 01, 2013, 10:39:06 PM

I lent out $430 on Bitfinex at 31%, however I just realized I need Bitcoin. So, I suddenly need that $430 back. I'm willing to use that $430 loan as collateral for a $430 loan to me payable in Bitcoin. I'll pay you an equivalent of 0.1% daily SIMPLE interest (NOT compound), higher than I'm getting, and higher than the current Bitfinex rate, on the US DOLLAR balance of my loan. I reserve the right to be able to repay early, including when the $430 loan is returned on Bitfinex. While I have access to your BTC you'll have full & exclusive access to my Bitfinex account. For exchange rate, I use Bitstamp.

Example:
When BTC is worth $125, you agree to the loan. You send me 3.44 BTC, and I send you my Bitfinex account credentials. 12 days later, my loan is repaid. I pay you 1.2% interest, plus principal = $435.16 in BTC at whatever the Bitstamp exchange rate is at the time.

I'll pay all transaction fees, but not any exchanger fees you incur for the purchase/sale of the Bitcoins you send/receive from me.

You can't use that as collateral. You can scream scam or use other social engineering tactics to get your Bitfinex account back after you get the coins.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

I lent out $430 on Bitfinex at 31%, however I just realized I need Bitcoin. So, I suddenly need that $430 back. I'm willing to use that $430 loan as collateral for a $430 loan to me payable in Bitcoin. I'll pay you an equivalent of 0.1% daily SIMPLE interest (NOT compound), higher than I'm getting, and higher than the current Bitfinex rate, on the US DOLLAR balance of my loan. I reserve the right to be able to repay early, including when the $430 loan is returned on Bitfinex. While I have access to your BTC you'll have full & exclusive access to my Bitfinex account. For exchange rate, I use Bitstamp.

Example:
When BTC is worth $125, you agree to the loan. You send me 3.44 BTC, and I send you my Bitfinex account credentials. 12 days later, my loan is repaid. I pay you 1.2% interest, plus principal = $435.16 in BTC at whatever the Bitstamp exchange rate is at the time.

I'll pay all transaction fees, but not any exchanger fees you incur for the purchase/sale of the Bitcoins you send/receive from me.

Topic: [FULL COLLATERAL] "Up To 57 day loan." (Read 990 times)