Topic: I want a loan for 50-200 BTC -- major asset issuer (Read 1682 times)

You may want to start by using your real name if you want people to trust you with their money.

This is of course assuming your real name isn't "printshop". If this is true, I apologize - I did not mean to insult your name.

According to nxtblocks.com, BearMining alone has traded over 2 million shares in the last 7 days. I expect us to hit 3 million by next week (trailing 7 days) making us #1 again. Right now we're just #2 (2mil NXT = ~100 BTC).


Sure. 21 BTC here: https://nxtforum.org/index.php?topic=6812.msg140737#msg140737
Our referral payment has been delayed by several days by LTCgear due to some CSRF attacks so that won't show till tomorrow I guess.
another 1 BTC here: https://nxtforum.org/index.php?topic=6474.msg140726#msg140726
DailyTrade will pay 1 BTC this week as well. So thats 23 BTC, I will post an update when we get our referral payments for lulz, but by then it will be too late.

BTW, we make 2-3 BTC a week free and clear from these assets. If we took a 20 BTC loan we would get 7 BTC back from the referral system as well. This and the market activity on BearMining which would justifiably be used to pay off a loan made to BearMining would easliy cover such a loan over a 1 to 2 month period, up to 100-200 BTC.


Again the fact that I run these assets and have not scammed is actually proof I am not planning to scam, not that I am more likely to scam. Anyway, I have to go to HK all day on business and unless someone comes thru on this in the next couple of hours it will be a no-go.

Thanks for your time though. I learned a lot. I guess what I should do is come back later and take a few loans with 100% collateral in BTC. The weird thing is, this doesn't actually prove anything. What would be a much stronger form of proof is if I paid back a series of unsecured loans. We shall see!

I guess I should take that as a no :/

Now you're just getting fancy, sir.

Do you have any documentation as to your claim of being a "high volume" asset exchanger and the fact that you are "trusted". Your trust profile is showing no trust that I would consider trustworthy and have no other indications of reasons to trust you. Can you provide any kind of documentation to both of these claims as well as your claim that you recently paid out 30 btc to your shareholders?

Also the reason someone would put up an altcoin as collateral is because they want to borrow money but think the altcoin will rise in value and do not want to sell.

I really do not think your asset would really be considered "in hand" by the lender because in the event of a default you have control over if the asset ever receives any kind of dividend.

If this was a legit request you would probably have a better chance of finding a lender on the NXT forum. If this is a scam you have a better chance of getting someone to fall for your scam here.

agree.

You don't need to explain it to me, you need to listen to me when I tell you that is next to irrelevant in this situation. You clearly have no idea what I do. I get paid in BTC, for one.

BTW my asset just paid out 30 bitcoins worth of dividends, 16% on one and 8% on the other. It was a good week.

Chris has extended the referral program until the 17th, so I essentially have until tomorrow to pick up this loan. Come on guys this is a golden opportunity. Help!

Since coins fluctuate in value, borrowers need more than 100% to make sure they can recover in cause of a default while the price fluctuates.  Surprised that I really need to explain that to you.

As for whatever you just said about USDbitfinix, I don't understand, probably because I don't understand NxT AE...and I don't have the desire or time to learn more.  I'm sure this is the reason no one is interested.  they don't perceive value or security in the collateral. 

Since you can exchange NXT for BTC on about a dozen different exchanges, what exactly would the point be of offering 110-150% collateral, in NXT, for a loan in BTC? There are people here offering their accounts as collateral, I find it humorous they are getting loans when a major asset issuer can't get a 1 BTC loan despite offering $1000s of USDbitfinx as possible collateral. I don't think you guys realize how ridiculous this situation is. But hey, it's your money

Its a too much big amount to lend. You need ti provide the valid collateral equivalent to the amount you will borrow.

Don't take it personally. 

But your collateral is questionable which is why people aren't interested.
You had 2 people  that would have lent at least 1 BTC
were the collateral actual NXT.

Doesn't look like I will be able to get a loan, even for 1 BTC, now that I have been denied by marcotheminer. I have to say, that's really weird. It's nice when you pay out dozens of BTC in dividend payments each week and get loads of positive feedback, but people are too quick to turn negative when you need something in return.

I am not sure how much rep or feedback is normally needed here to get a loan, but I honestly have to wonder when someone like me who controls hundreds of BTC of investors money gets turned down for even very small loans. Something doesn't click, based on what I have read I am pretty sure the problem is not with me but with people's attitudes towards non-BTC communities. It shouldn't be this difficult for people to establish credibility, or even to use the credibility they have already established.

 

Yes, no disagreement there.

I'm with quickseller though -- I barely trust NXT enough to use it as collateral. 
NXT AE is unknown to me and I wouldn't consider it "a stable alt" or whatever.

I do agree, but:

Trust: 2: -0 / +4(4)

Shouldn't we admit by now I am not asking people to trust me blindly? I'm not saying it's unfair if no one stakes me, I am perfectly fine without the loan. I just have this golden opportunity, and I'm saying, here's my cards, they're all on the table, help me and I'll cut you in. That's all.

Excellent point Quickseller. It is precisely my point that I am a trusted asset issuer who has sold hundreds of BTC worth of essentially unsecured debt and that I have not ran with the money. In short, that I have proven that I can be trusted with 50 BTC. Of course I don't expect full marks for that in the BTC community, but there are those here who I have done business with who I think might be interested in giving me a shot on a loan. If not, it's all good. LTCgear payments are expected in a few hours and I will post my numbers here, which should provide additional proof. I am going to pay out approx. 30 BTC in dividends. If I was planning on scamming people for 50 BTC it would not make logical sense for me to pay 30 BTC in dividends. To what, scam net 20 BTC?


I am banking on the (proven) fact that more people believe my collateral has value than do not. In the end, this is how trust works -- once you build up trust, it doesn't mean you are any more or less likely to scam on your next transaction -- that's the gambler's fallacy -- it just makes other people feel better about taking the risk. In my case I believe that a little due dilligence on the part of a lender would reveal why I'm expecting to be trusted with this amount of money. If you don't agree I would find that particularly interesting in your case since we have a trust relationship on this forum What's that worth?

I know little about NXT AE and don't care to research it.  Not saying you're wrong, but whenever
someone says "It should be obvious i'm not trying to scam", its fairly dubious on its face,
don't you agree?

Correct me if I am wrong (with documentation of course) but I don't think there is anything in the NXT protocol that forces someone to have something of actual value to back any assets issued in the NXT marketplace. If you are the one issuing such assets then there is nothing to force you to provide any kind of actual value for such assets.

I would think a more appropriate warning would be to say that all collateral must be held by a trusted escrow, however I would think that someone with 50 BTC worth of crypto assets would probably already know this. Your post implies that you would be willing to send 50 BTC of collateral to a lender directly for a loan of similar size. Most scammers would be more then willing to do this, but never fund the loan, however if the collateral does not have any actual value (meaning there is a liquid market of willing/able buyers to convert the collateral to BTC) then it would mean nothing if/when a lender tries to scam you because they would have just stolen worthless collateral.

Yeah, that's the thing. It should be obvious. No disrespect intended, but for the amount I want you should at least check up on my references



If I was able to put up 120% of the amount in NXT, for the amount I am asking and for the reason I am asking, you would then have a reason to be skeptical. My reason for the loan actually makes sense BTW, I offered escrow in the OP, suggesting we use a pro escrow who was willing to hold NXT AE securities. Kind of like how BTCJam will hold securities in escrow.

I know people are skeptical but it's actually surprising to see comments like the above where people clearly didn't really read what I wrote or check up on my references...

if you were able to provide 120% of the repayment amount worth of NXT as collateral then I would be willing to lend up to 5 Btc. I am somewhat skeptable though as you do not mention escrow until the lender isn't set up to receive NXT. (I of course accept escrow)

lol. yeah obvious.   

Not for the amounts I want to borrow, no. Any free NXT is being used to get in on the referral program with my supplier before it closes on monday. I have SOME nxt, in the form of SafeHash, but no not nearly enough to cover even 50 btc.

If you are familiar with me or my funds or take a look at what I'm doing in NXT it should be pretty obvious that I'm not going to rip someone off for 50 BTC.

Plus I would absolutely LOVE to have trust feedback for 50 risked BTC on my profile. Take a look at my feedback sent, I take a lot of calculated risks around here, it should be obvious I am not trying to scam people. Dunno.

Are you able to offer actual NXT as collateral?

Hi! My name is printshop and I run the #1 fund by volume on NXT AE, a no-fee link to LTCGear. I am willing to offer you 110% repayment over a 4 week period (10% on the month) for up to 50 BTC. I can offer higher rates if you go to two months, i.e. 125% repayment over 8 weekly payments (7.8125/week). I will go as high as 200 BTC. I earlier wasn't sure if I wanted to go that high but I think I can manage it now.

The reason I want this loan is to take advantage of a special offer made to me by one of my suppliers which will expire on Monday. I will also use this to increase leverage on my fund and drive share sales.

It will be easy for me to pay you back as I have been selling over a million units of my fund a week (50btc) since I started two weeks ago. Last week we paid 15% to shareholders and reinvested 2.25%. Of course difficulty is going through the roof, this week will probably be 10%, but my math indicates +25% over two months will basically be splitting the cost with you. So I am willing to do it.

As collateral you can have shares of any of my assets on the AE for comparable value. Alternately I can give you shares of USDBITFNX or STSH at IPO price (60 and 55 NXT respectively). Of course if you don't deal in NXT you can't really take possession of the collateral, maybe a pro escrow could do it for you, but I am running a no-fee fund so I won't pay for it.

PM me please if you can do this for me! thanks.