Giving loans out - page 2. | Bitcointalksearch.org

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: gurg2.o on January 21, 2012, 02:04:01 PM

∆You must have credible reputation on the forum
∆Must be able to pay the loan back 5 days after loan (can ask for specific circumstances to extend)
∆Will pay back 20%+ loan
∆At this time will do loans up to 100 bit-coins

Thanks

Its 20%+ interest for the whole loan period, usually for a month or other specified period. Not daily interest, that'll be loan-sharking already LOL. I suggest you post this loaning thread inside the lending subforum.

Myrtlewood

newbie

Activity: 7

Merit: 0

If the point of the loan is for short term speculation in the markets, that's not an unreasonable rate. High reward belongs to high risk, which short term currency spec is by definition.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: gurg2.o on January 21, 2012, 03:29:46 PM

Alright what would be a good interest rate for a 5 day loan? Thanks

Can I answer that in good forum etiquette? If so, I do 14D loans for 104% principal expected at time of payment for single-payment loans, 103% principal if payment's split between the seventh day and fourteenth. So 5 days? 102%, maybe. If this isn't good etiquette, I'll delete this post.

gurg2.o

newbie

Activity: 42

Merit: 0

Alright what would be a good interest rate for a 5 day loan? Thanks

papa_snurf

newbie

Activity: 48

Merit: 0

Quote from: gurg2.o on January 21, 2012, 02:11:29 PM

Quote from: ?? on ??

20% for a 5 day loan?

Is that high? I looked in the lending section and saw a lot of people doing 20%+ loans

The annualized rate is 1.2^(365/5) = 602880 -> 60,277,900%.

Yes it is high.

gurg2.o

newbie

Activity: 42

Merit: 0

Quote from: coinft on January 21, 2012, 02:11:49 PM

Well it's high risk, and the market has moved more on occasion. While I can see the math behind it I still don't think this will fly...

-coinft.

What if I did based on the usd value of the bitcoins to avoid fluctuating prices?

coinft

full member

Activity: 187

Merit: 100

Quote from: ?? on ??

20% for a 5 day loan?

Well it's high risk, and the market has moved more on occasion. While I can see the math behind it I still don't think this will fly...

-coinft.

gurg2.o

newbie

Activity: 42

Merit: 0

Quote from: ?? on ??

20% for a 5 day loan?

Is that high? I looked in the lending section and saw a lot of people doing 20%+ loans

gurg2.o

newbie

Activity: 42

Merit: 0

∆You must have credible reputation on the forum
∆Must be able to pay the loan back 5 days after loan (can ask for specific circumstances to extend)
∆Will pay back 20%+ loan
∆At this time will do loans up to 100 bit-coins

Thanks

Topic: Giving loans out - page 2. (Read 2450 times)