Loan question | Bitcointalksearch.org

James222

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Wassup?

Quote from: Tomatocage on February 04, 2014, 06:02:10 PM

Quote from: James222 on February 04, 2014, 05:15:36 PM

Then wouldn't it be easier to just convert the ltc to bitcoins?

Why would you want to get rid of your Litecoins though? You use them as collateral, get your BTC, then once you pay your loan back you get all your Litecoins back too, regardless of price fluctuation

If I need a loan it means I need money. Let's say I need a 1 BTC loan and that I have 1 BTC worth of LTC. I would simply exchange them for 1 BTC, buy what I want, rentabilise it, re-buy LTC and voila! No loan. Unfortunatly, I don't have 360 LTC Tongue

Tomatocage

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brb keeping up with the Kardashians

Quote from: James222 on February 04, 2014, 05:15:36 PM

Then wouldn't it be easier to just convert the ltc to bitcoins?

Why would you want to get rid of your Litecoins though? You use them as collateral, get your BTC, then once you pay your loan back you get all your Litecoins back too, regardless of price fluctuation

James222

member

Activity: 98

Merit: 10

Wassup?

Quote from: austin on February 04, 2014, 05:09:45 PM

Quote from: James222 on February 04, 2014, 04:47:15 PM

Hi everyone. I have a question for you guys. I would like to buy a prospero x3 from black arrow software. The only problem is that it costs around 7 BTC which is a lot. I am not looking for a loan right now but I would like to take one soon. My question is: what kind of collateral would be needed for a 7 BTC loan? I thought about Litecoins, but how many?

Thanks in advance, James

Either litecoins or another well established altcoin. It's much easier to get a loan with a known coin than one that was created a week ago. They should be worth more than the loan; even better if you can get about 115-120% of the value.

Then wouldn't it be easier to just convert the ltc to bitcoins?

austin

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Quote from: James222 on February 04, 2014, 04:47:15 PM

Hi everyone. I have a question for you guys. I would like to buy a prospero x3 from black arrow software. The only problem is that it costs around 7 BTC which is a lot. I am not looking for a loan right now but I would like to take one soon. My question is: what kind of collateral would be needed for a 7 BTC loan? I thought about Litecoins, but how many?

Thanks in advance, James

Either litecoins or another well established altcoin. It's much easier to get a loan with a known coin than one that was created a week ago. They should be worth more than the loan; even better if you can get about 115-120% of the value.

Tomatocage

legendary

Activity: 1554

Merit: 1222

brb keeping up with the Kardashians

I could supply this loan for 310 LTC.

James222

member

Activity: 98

Merit: 10

Wassup?

Hi everyone. I have a question for you guys. I would like to buy a prospero x3 from black arrow software. The only problem is that it costs around 7 BTC which is a lot. I am not looking for a loan right now but I would like to take one soon. My question is: what kind of collateral would be needed for a 7 BTC loan? I thought about Litecoins, but how many?

Thanks in advance, James

Topic: Loan question (Read 498 times)