Topic: I want to borrow 100 BSV (Read 488 times)

As a matter of fact this happened, @herbert initiated a conversation with me on skype. I told him that I am limited on pm's and find someone to talk on skype. A user that said is this user: https://bitcointalksearch.org/user/ognasty-18321 texted me and made a group of talking.

Today I asked this user if he spoke with me on skype and he said no.

It was a lame attempt to cheat me; I was willing to help out as I also mine BSV and the price was ok for me to give it out vs bitcoin. It seems people are looking here only for selective scams. Annoying and disrespectful

I am not actually a lender, if forum rules allow I'll make a loan for you, covering by forum escrow at FORUM
I will send you pm, let me know what you ve chosen

Yes, I am a new person here, no doubt. I fully understand that you are afraid. To be honest I am not willing to send any BTC to anyone if there is no third-party escrow service or any other guarantee. But if I offer a collateral there is probably no risk for a lender, right? OK, if there is a price change I can increase the collateral.

Since I am not an English native speaker I have difficulties in uderstanding eddie13's offer. But I don't think it is an offer from a BSV holder - he writes "exchange rates both ways"...

I can borrow 100 BSV for a year returning 110-120 BSV. That's even better for me. The question is wether it is better for you because the price within a year can be very low and your 120 BSV will be depreciated. I thought my offer might be interesting for someone who holds BSV and can lend them for a while earning a little extra profit instead of holding them on a wallet and earning zero.

What is "my thing"? Sorry but I am not going to reveal it. But it is better to use BSV (mine plus borrowed) and return the loan paying the fee (reasonable) than converting my BTC to BSV and back. If I use the conversion I face the price changing risk, but if I use BSV there is no risk on my side.

Once again, I am looking for people who own some BSV and within a week/month/year are not going to use (sell) them.

No: https://www.bitfinex.com/legal/terms

Well, the OP doesn't come off like a complete dumbass, so that's likely his intent.  I can't imagine any other reason to borrow BSV while having BTC to use as collateral.  But I think you're assumption that the OP doesn't have access to an exchange that will allow him to leverage his BTC for short BSV is probably why he's here.  That or he's unwilling to use an exchange for some reason or another.

There are a couple of exchanges that list BSV that I would consider doing business with, but I've never heard of most, and some I know are pretty shady.  Bitfinex lists the coin, but I've never tried to open an account with them.  Is their service available to US residents?



Sounds like someone planning an Impostor Scam.  PM restrictions won't prevent you from hashing out the details and commissioning an escrow agent in this thread.  Why insist on taking the conversation to a place where scammers thrive?

I was thinking about Kraken but afterwards I realised it doesn't support BSV anymore (or it had plans to stop). Maybe there are others available, maybe not, that would explain the OP request.

We won't really know what the OP is thinking about unless he explains it himself. Would really like to know even if just to learn something. And maybe it is not as fishy as it sounds (I can't blame someone for *trying* to get amazing terms on a loan). Most suspicious things are that it is a completely new account and the specific BSV loan, which is weird to say the least... buy if he can agree to terms that result in a win-win situation for everybody then it's all fine.

I am sorry for your missunderstanding; but I will do only though telegram or skype whatever; a third party will hold his funds of course and we have to decide over how it is going to be, if it falls under some situations, the price average; but how can we decide as such with 1 pm/day!
OP can send me at any time a PM with his chat address; jabber/tg/skype/viber whatever and we see from there how to and with whom to speak about making it safe for both of us

As an American citizen like me, what market would you use right now to short BSV?
It's not all that easy..

Lender was betting in therms of BTC so keeps the collateral and the lender wins even if the borrower also wins and scams at the same time?
Redtags for scamming and not returning the BSV which is now worth more than the BTC collateral? Broken contract..


I'm not exactly expecting BSV to surge, it would basically be instantaneous liquidation considering the buffer zone..

^ @eddie13

That's exactly what I was thinking. But then, what he should do is use his BTC to leverage a BSV position in an exchange. Way cheaper and simpler...

UNLESS he has the "master plan" of trying to leave behind the collateral and stiff the deal in the improbable case that BSV happens to surge (10%+). 

So that's why 110% collateral is inaceptable in this case.

I think he wants to get short on BSV..

Borrow
Sell
Price goes down
Buy back
Keep change
Repay loan
Profit

I've thought a bit about how to do this off-exchange myself..

But if he has to pay my fees and exchange rates both ways that fluctuate with the market it makes his profit moot against the changing market, so it wont work with my offered structure...
Unless it dropped within the collateral liquidation point and came back up, and he made the perfect trade in it, then maybe we could both profit..
I should liquidate at around 130% @ 150% collateral to guarantee my profit on the deal..

If he thinks he can make the trade that's fine.. I'll raise his liquidation to 175% if he can give me 200% collateral

Maybe he is thinking about setting himself up with a no-loss situation at the possible expense of an inexperienced lender (scam), but collateral lending is the business of setting up a no loss situation for yourself..

I didn't really research him.. How smart does he seem?

He could also just be a troll out to prove the point that BSV isn't woth A Flying Fuck Hellfish..

The main problem is that you are a completely new account asking for a loan. 10-20% per year might be reasonable for a trusted member IF it really were for a year, but you want to extrapolate that interest to a few days? If we consider fees and all that you are basically asking for a free loan. And then there is the collateral that might not account for extreme valuation changes of BSV.

What do you want the BSV for if it is not too much to ask? I mean, if you already have 110% the amount in BTC... Can't you just leverage your BTC or convert it and do "your thing" then convert back?

Anyway, eddie13 offer above seems to be very reasonable and maybe closer to what you are looking for.

I can probably loan you BSV but you are going to pay exchange rates on my end both ways + 5% after my fees, and 150% collateral subject to liquidation if/when liquidity gets slim..
lmk

one suggestion, I am not too much experienced and I'm not lender but there is official escrow list you should use, and do not trade via telegram or skyp
Use only forum

Finally the interesting response. Thank you. OK, let's get to the details. I can use my BTC as a collateral but have no experience in borrowing. I am not willing to send you my collateral first because I do not know you. I need to read some posts how to do that. Or maybe you can help me and write how to do that with no risk for me nor you? Escrow sounds OK.

Yes, your offer is really ridiculous. I do believe it is not the best.
OK, I do not need one person with 100 BSV, there might be a group of people. And to be honest I can borrow 100 but also 10 or 200 BSVs.

And the loan period might be a month but can be even shorter, let's say 3-7 days.

So, if you have 5-10 BSV and want to hold it for at least a week (no matter what will happen with the price), then why not to lend them to me?

My only condition is that the loan price can not exceed 10-20% per year.

Bitcoin SV is a bot.  He does not really understand anything, but he could be a sucker bot that is dumb enough to make a BSV loan. 

I mean, anyone who actually has 100BSV could not be too smart, could they?   

Did you bother to read the post you quoted?

It looks like an okish ammount, now with the low price people can go and buy, it will rise anyway in a matter of some weeks, so it shall be profit on both sides.
I might be interested if you agree with certain terms, right now I owe less than 50 bsv on my binance; and the good part is that they enabled transfers between accounts lately so sounds ok.

What are the guarranties?

You will have a VERY hard time finding anyone with 100BSV. Why? Because noone in their right mind would have bought as much unless he got airdropped because of initially having more than 100BTC. And, even in that case, you would need to find someone with more than 100BTC that hodled his BCH until the BSV fork and kept hodling till now.

And no one with 100+BTC (probably WAY more to still be hodling 100 BSV) is gonna lend you shit for pennies. So you better up, or better yet, change your game.

Maybe I could lend you 5-10 BSV. For 20%/week (you give me back 6 if its 5, 12 if its 10). 150% collateral in BTC that *I* hold, no third party escrow. Or with third party (well known) escrow for 30%/week. Deal?

Scratch that, with those terms I could even give you one full month instead of just one week for the same interest.

Maybe my terms don't sound too good, but yours are even more ridiculous and my offer is probably the best you are gonna get.

Thanks man!

BSV holders (if there is such a thing) probably wouldn't lend to you because they think BTC will tank making your collateral insufficient but I tried anyway: https://bitcointalksearch.org/topic/ann-bsv-bitcoin-sv-original-satoshi-vision-4985868

There is of course also a significant risk that a newbie account would try to pull some escrow/collateral scam.

The risk is the value of BSV declines. I don’t think many lenders around here are holding large amounts of BSV, so they would be subject to prove risks even if you repay.
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Yes, I understand that. Full agree. But I am looking for someone who after all holds BSV. For example I hold some GameCredits and if it was possible I would lend them.

The risk is the value of BSV declines. I don’t think many lenders around here are holding large amounts of BSV, so they would be subject to prove risks even if you repay.

It is one week loan. Yearly it would be ~ 12,5%. And what is the risk for the lender? I have a collateral. If someone holds BSV what is the problem for him to lend them for a week? I don't get it.

Sorry there are no BSV loan here, not even with 25% interest rate :-)

Why would anyone in their right mind want to do it? For a measly 0.25%...

Offer 25% and you might find someone willing to take the risk.

I want to borrow 100 BSV for a week. I can pay back 100.25 BSV. I have a collateral in BTC (110%).
Does anyone have enough BSV?