Loan Required : 0.45 , Collateral worth 0.6 approx - page 2.

shasan

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Quote from: DarkStar_ on January 02, 2019, 04:43:12 PM

Most lenders require collateral for the principle amount, not interest. This is consistent with my lending service, m0gliE, shasan, grtthegreat, Crypto Capital. zarzab, condoras, Parodium and Lone Shark do not have a liquidation term (other than when default). Your request is not similar to what other lending providers offered, and I do not believe this term was stipulated and agreed on prior to the loan taking place. Please let me know if I am incorrect. Additionally, I cannot find a single service that requires collateral for principle + interest.

Thread archived for future reference.

Usually, borrower asks collateral about 120% of the lending amount. But lender usually does not sell if it goes below 120%. A lender usually keeps it as collateral until it goes below the lent amount.

DarkStar_

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Quote from: Hatcher_alt on January 02, 2019, 03:54:33 PM

Anyways, interest is still active on this loan, and the total repayable amount will exceed the collateral value before this year ends at which point I will have a right to ask for the collateral to be transferred to me.

No.

Quote from: Hatcher on May 04, 2018, 11:49:04 PM

Similar terms to what the other lending providers stipulate. I would ask that you top up the collateral if the collective value falls below .55 BTC, and if I don't hear from you and the collateral keeps dropping (to below .5 BTC) I would ask DarkStar to sell the collateral (the excess amount above .465 BTC would be returned to you, of course).

Most lenders require collateral for the principle amount, not interest. This is consistent with my lending service, m0gliE, shasan, grtthegreat, Crypto Capital. zarzab, condoras, Parodium and Lone Shark do not have a liquidation term (other than when default). Your request is not similar to what other lending providers offered, and I do not believe this term was stipulated and agreed on prior to the loan taking place. Please let me know if I am incorrect. Additionally, I cannot find a single service that requires collateral for principle + interest.

Thread archived for future reference.

Hatcher_alt

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New year and this loan is still active. Not sure what's going on with max but he logs in very infrequently. Anyways, interest is still active on this loan, and the total repayable amount will exceed the collateral value before this year ends at which point I will have a right to ask for the collateral to be transferred to me. Max: You know you could just repay this loan, cut your losses, and the continuous interest bleed. That's what I'd recommend, but you can do whatever you want. Just wanted to bring your attention to this.

Regards,
Hatcher

Hatcher_alt

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It's a new month so I'll need to post an update here, as things have changed and new terms haven't been established in this thread.

I have received a partial repayment at the beginning of last month of 0.22004658 BTC. That leaves the remaining principle at 0.22995342 BTC. When the principle was .45 BTC, the interest on this loan was .015 BTC a month - 3.33%. For September, October, and the months going forward, I will simply round the monthly interest down to 3%. Currently, that is 0.00689860 BTC. You only need to pay interest on the principle, so any other partial repayments will further reduce this amount.

Collateral coverage is great, and as long as it remains that way, this loan can be kept open indefinitely.

I trust that these are agreeable terms. As they are better than the previous months', I hope they are well received and we can simply continue on with them being outlined here.

Cheers,
Hatcher

Hatcher_alt

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Quote from: max2607 on August 14, 2018, 02:10:05 AM

Quote from: Hatcher_alt on August 13, 2018, 05:20:30 PM

The collateral value for this loan has fallen below the repayment amount. DarkStar_, are you able to shift more collateral over to support this loan (ideally .1 BTC worth to bring it up to a .6 BTC margin value)? Otherwise, I must ask for the collateral to be transferred to me.

https://imgur.com/a/p8rc9TS

Hey can you just chill idk whats the hurry. As i said in past regardless of how low the collateral is i will repay all the loans. I was going to send additiomal collateral but the market literally crashed today. If possible can you just wait for a week or so. I'm trying to collect funds and repay all pending loans before this month. I know that's not right but it's just a wrong timing. I promise to pay all loans regardless of collateral.
Could you please trust me on this one for once, I won't disappoint you.
Also darkstar won't be able to transfer as the collateral he has is lower than the loan amount i owe him.

You are correct that this usually isn't the way things are done here, but I did talk to DarkStar_ after I posted this and he vouched for you and said he would cover any losses on this loan if that occurred. Most borrowers would be liquidated by this point, but I'm going to respect his judgement.

max2607

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Quote from: Hatcher_alt on August 13, 2018, 05:20:30 PM

The collateral value for this loan has fallen below the repayment amount. DarkStar_, are you able to shift more collateral over to support this loan (ideally .1 BTC worth to bring it up to a .6 BTC margin value)? Otherwise, I must ask for the collateral to be transferred to me.

https://imgur.com/a/p8rc9TS

Hey can you just chill idk whats the hurry. As i said in past regardless of how low the collateral is i will repay all the loans. I was going to send additiomal collateral but the market literally crashed today. If possible can you just wait for a week or so. I'm trying to collect funds and repay all pending loans before this month. I know that's not right but it's just a wrong timing. I promise to pay all loans regardless of collateral.
Could you please trust me on this one for once, I won't disappoint you.
Also darkstar won't be able to transfer as the collateral he has is lower than the loan amount i owe him.

Hatcher_alt

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Activity: 12

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The collateral value for this loan has fallen below the repayment amount. DarkStar_, are you able to shift more collateral over to support this loan (ideally .1 BTC worth to bring it up to a .6 BTC margin value)? Otherwise, I must ask for the collateral to be transferred to me.

https://imgur.com/a/p8rc9TS

Hatcher_alt

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Quote from: DarkStar_ on July 29, 2018, 11:27:07 PM

Quote from: max2607 on July 29, 2018, 09:29:23 PM

Hey looks like end of every month i have to show up and jist extend the loan again and again. The basic reason behind this is because the market value is really low and if i sell all collateral i gave you i basically get a loss.
Here's what we can do if I'm in a state of repaying the loan i will come online and ask for repayment address and send it right away else i would like you to assume that it has been extended for another month with same interest rate.
Now as you told you don't wanna keep extending the loan for a while here's what we can do if the market is still low end of August it get's extended to 30th Sept. And even if market has a slow reaction then i think I'll just buy bitcoin and repay the loan, i can't guarantee this but asking your time till 30th Sept as if i tell you all to liquidate i lose 2 bitcoins right away. Last time i took a loan i made 1 btc profit but now as I'm hoping is to repay the loan without getting a loss. Will come online for the next 2 days if you have any question do post here or pm.
The above implies for darkstar as well I'm sorry for any inconvenience but i can't sell them at a loss and all this is just bad timing

This works for me in regards to my loan. Not really an issue as long as collateral coverage is good. I assume you'd still be checking prices to make sure things are still at good levels of margin, correct?

Works for me as well. Same as what DarkStar_ said; the collateral value needs to be kept at a sufficient level throughout the course of the loan.

DarkStar_

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Quote from: max2607 on July 29, 2018, 09:29:23 PM

Hey looks like end of every month i have to show up and jist extend the loan again and again. The basic reason behind this is because the market value is really low and if i sell all collateral i gave you i basically get a loss.
Here's what we can do if I'm in a state of repaying the loan i will come online and ask for repayment address and send it right away else i would like you to assume that it has been extended for another month with same interest rate.
Now as you told you don't wanna keep extending the loan for a while here's what we can do if the market is still low end of August it get's extended to 30th Sept. And even if market has a slow reaction then i think I'll just buy bitcoin and repay the loan, i can't guarantee this but asking your time till 30th Sept as if i tell you all to liquidate i lose 2 bitcoins right away. Last time i took a loan i made 1 btc profit but now as I'm hoping is to repay the loan without getting a loss. Will come online for the next 2 days if you have any question do post here or pm.
The above implies for darkstar as well I'm sorry for any inconvenience but i can't sell them at a loss and all this is just bad timing

This works for me in regards to my loan. Not really an issue as long as collateral coverage is good. I assume you'd still be checking prices to make sure things are still at good levels of margin, correct?

max2607

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Need a nice avatar, can someone help :-)

Hey looks like end of every month i have to show up and jist extend the loan again and again. The basic reason behind this is because the market value is really low and if i sell all collateral i gave you i basically get a loss.
Here's what we can do if I'm in a state of repaying the loan i will come online and ask for repayment address and send it right away else i would like you to assume that it has been extended for another month with same interest rate.
Now as you told you don't wanna keep extending the loan for a while here's what we can do if the market is still low end of August it get's extended to 30th Sept. And even if market has a slow reaction then i think I'll just buy bitcoin and repay the loan, i can't guarantee this but asking your time till 30th Sept as if i tell you all to liquidate i lose 2 bitcoins right away. Last time i took a loan i made 1 btc profit but now as I'm hoping is to repay the loan without getting a loss. Will come online for the next 2 days if you have any question do post here or pm.
The above implies for darkstar as well I'm sorry for any inconvenience but i can't sell them at a loss and all this is just bad timing

DarkStar_

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Quote from: Hatcher_alt on July 28, 2018, 01:40:46 AM

Good morning. The end of the month is coming up and an update is required from my end before I attempt to communicate with max for an extension. My main account, Hatcher, has been locked due to an unauthorized email address/password change, and I am currently in communication with the forum's administrators to get it unlocked. It looks like it could be a lengthy process before that is completed so I have created an alt account to communicate with during the course of this loan.

Max hasn't been online since July 12th, and I am skeptical that he is going to come online in time to set extension terms before the current deadline, but the collateral for this loan is still at a healthy margin, and because of that I am not worried (yet). I have previously expressed that I am comfortable with keeping this loan open as long as he has collateral to cover it - that stance has not changed.

All messages involving monetary transactions will be signed, as I have done previously in this thread, from that same address. I am going to sign this message as well to prove that I am Hatcher, and I would like DarkStar_ to acknowledge this update. Besides that, all I can do is hope max comes online soon to set extension terms for this loan.

Thanks,
Hatcher

Code:

-----BEGIN BITCOIN SIGNED MESSAGE-----
This is Hatcher, on Saturday July 28th, providing proof of ownership of the "Hatcher_alt" account on Bitcointalk.
-----BEGIN SIGNATURE-----
1AWjtpZNywzyQywagxWihqJQ3eQYqDov7P
HztnKdVfoc74M+pdtJuXw6ykcV26SH3tbKBEE0GhOjLaShJ28+FtdA9bHPmY6VchEDII3kzS5h+LGRGNP0t2yfc=
-----END BITCOIN SIGNED MESSAGE-----

Acknowledged.

Hatcher_alt

newbie

Activity: 12

Merit: 0

Good morning. The end of the month is coming up and an update is required from my end before I attempt to communicate with max for an extension. My main account, Hatcher, has been locked due to an unauthorized email address/password change, and I am currently in communication with the forum's administrators to get it unlocked. It looks like it could be a lengthy process before that is completed so I have created an alt account to communicate with during the course of this loan.

Max hasn't been online since July 12th, and I am skeptical that he is going to come online in time to set extension terms before the current deadline, but the collateral for this loan is still at a healthy margin, and because of that I am not worried (yet). I have previously expressed that I am comfortable with keeping this loan open as long as he has collateral to cover it - that stance has not changed.

All messages involving monetary transactions will be signed, as I have done previously in this thread, from that same address. I am going to sign this message as well to prove that I am Hatcher, and I would like DarkStar_ to acknowledge this update. Besides that, all I can do is hope max comes online soon to set extension terms for this loan.

Thanks,
Hatcher

Code:

-----BEGIN BITCOIN SIGNED MESSAGE-----
This is Hatcher, on Saturday July 28th, providing proof of ownership of the "Hatcher_alt" account on Bitcointalk.
-----BEGIN SIGNATURE-----
1AWjtpZNywzyQywagxWihqJQ3eQYqDov7P
HztnKdVfoc74M+pdtJuXw6ykcV26SH3tbKBEE0GhOjLaShJ28+FtdA9bHPmY6VchEDII3kzS5h+LGRGNP0t2yfc=
-----END BITCOIN SIGNED MESSAGE-----

DarkStar_

legendary

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max2607 has added an additional 300k BCN to the collateral for this loan.

Hatcher

full member

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Quote from: max2607 on July 07, 2018, 01:06:08 PM

I'm still alive i have not been assassinated, I was a bit busy so couldn't keep up but not to worry I am sending darkstar 1 million bcn which is enough. As i messaged you I'm not able to repay you because of the market ups and down i just want the market to recover a bit. I have and will never default a loan that's my guarantee

I don't mind you taking out this loan for months on end, I just don't like feeling antsy about the collateral situation. Let me know when you send DarkStar the BCN as some of that will be used to support this loan.

Thanks,
Hatcher

max2607

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Need a nice avatar, can someone help :-)

I'm still alive i have not been assassinated, I was a bit busy so couldn't keep up but not to worry I am sending darkstar 1 million bcn which is enough. As i messaged you I'm not able to repay you because of the market ups and down i just want the market to recover a bit. I have and will never default a loan that's my guarantee

brenzosa

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Quote from: zazarb on July 06, 2018, 06:46:13 AM

Quote from: brenzosa on July 06, 2018, 05:18:39 AM

hi, i have a question regarding this case.

if max defaulted and hatcher gets the collateral, is it ok for hatcher to do a negative trust on max? or a negative trust isn't appropriate since he got the collateral and they just followed the contract that the lender gets the collateral if the borrower defaulted so there's no violation technically.

in this case , he (max) does not fulfill his obligations repaid timely, so negative trust necessary, collateral value always fluctuating, and not always can't cover losses.

thanks for the reply. so max can't complain if given negative trust. having default and collateral be confiscated doesn't mean you're safe. borrowers should always pay the loan plus interest no matter what. collateral is there just for insurance and minimize loss on lender's part.

zazarb

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Get loan in just five minutes goo.gl/8WMW6n

Quote from: brenzosa on July 06, 2018, 05:18:39 AM

hi, i have a question regarding this case.

if max defaulted and hatcher gets the collateral, is it ok for hatcher to do a negative trust on max? or a negative trust isn't appropriate since he got the collateral and they just followed the contract that the lender gets the collateral if the borrower defaulted so there's no violation technically.

in this case , he (max) does not fulfill his obligations repaid timely, so negative trust necessary, collateral value always fluctuating, and not always can't cover losses.

brenzosa

jr. member

Activity: 162

Merit: 1

GPTCash Weekly Airdrop: https://discord.gg/YHngU9x

hi, i have a question regarding this case.

if max defaulted and hatcher gets the collateral, is it ok for hatcher to do a negative trust on max? or a negative trust isn't appropriate since he got the collateral and they just followed the contract that the lender gets the collateral if the borrower defaulted so there's no violation technically.

Hatcher

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Quote from: gueorguiev on July 06, 2018, 01:02:47 AM

This was getting intense to read. Where's Max? ,has someone assassinated him in real life. Will there ever re compensation for loss on the loan?!

Stay tuned..

There is no loss. This is a collateralized loan. Not only does this not concern you, but you didn't actually read (or comprehend) the thread before you made this comment.

gueorguiev

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This was getting intense to read. Where's Max? ,has someone assassinated him in real life. Will there ever re compensation for loss on the loan?!

Stay tuned..

Topic: Loan Required : 0.45 , Collateral worth 0.6 approx - page 2. (Read 16202 times)