Looking for a 6.5 BTC loan + 20% Interest / 2 Collaterals

Glucose

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Activity: 861

Merit: 1001

Quote from: melwinder on January 13, 2015, 02:44:57 AM

Hey everyone, so I was looking for a 6.5 BTC loan so I can use towards some miners, 20% Cloud mining + the rest real mining.

Repayment Time: Repayment + 20% Interest (by end of term), payment every 1 month, until it is paid off.
Payments every 1 month for 8 months (Estimated) : Est. 1 btc (every 1 month) + 8 months + 20% interest = 8 BTC
Collateral(s): This bitcointalk username/pass/Secret Q+Answer + my League of Legends Username and Password (level 30, 60+ skins approx, been playing since about Season 1 or 2)

I will also be upgrading the cloud mining part every day or two approx 10% of my balance each day in order to reach that goal of 9 months even quicker as an added bonus.
Thank you and I hope I am able to get this loan to finally be able to start my dream of mining big

Your collateral isn't enough for a 6.5 loan (but it's only my opinion.. it's a free market). Especially because you can't predict what will happen to the mining market in 3, 5, 8 monthes..

You should think about giving altcoins (NXT, DRK, DOGE, UNO) as collateral.

spartan82

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Activity: 658

Merit: 500

Sure thing..

To work out your repayment on 6.5BTC at 20% interest, (6.5 * 1.2 or 120%) equates to 7.8BTC total repayment.
In 8 equal monthly repayments (7.8BTC / Cool

= 0.975BTC per month.

So that's a saving of 0.2BTC for you right there Grin

As for collateral, I think lenders are more than likely looking for ALT coins and in such large amounts I think a very BARE minimum requirement would be 110-120% of 6.5BTC in value for the more popular ALT coins, and upwards of 150% in the more unstable ALT coins. My opinion anyway, but each lender has their own guidelines.

Hope this helps!

melwinder

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Activity: 252

Merit: 250

Quote from: spartan82 on January 13, 2015, 06:30:14 AM

Quote from: melwinder on January 13, 2015, 02:44:57 AM

Hey everyone, so I was looking for a 6.5 BTC loan so I can use towards some miners, 20% Cloud mining + the rest real mining.

Repayment Time: Repayment + 20% Interest (by end of term), payment every 1 month, until it is paid off.
Payments every 1 month for 8 months (Estimated) : Est. 1 btc (every 1 month) + 8 months + 20% interest = 8 BTC
Collateral(s): This bitcointalk username/pass/Secret Q+Answer + my League of Legends Username and Password (level 30, 60+ skins approx, been playing since about Season 1 or 2)

I will also be upgrading the cloud mining part every day or two approx 10% of my balance each day in order to reach that goal of 9 months even quicker as an added bonus.
Thank you and I hope I am able to get this loan to finally be able to start my dream of mining big

Your math is as horrible as your collateral.. Lol sorry to be so blunt but I'm sure you'll cop alot worse from others here. Just giving u the heads up!

Ty for your honesty, I am sorta new to asking for loans, could you suggest what would be a good interest/math equation or collateral?

spartan82

hero member

Activity: 658

Merit: 500

Quote from: melwinder on January 13, 2015, 02:44:57 AM

Hey everyone, so I was looking for a 6.5 BTC loan so I can use towards some miners, 20% Cloud mining + the rest real mining.

Repayment Time: Repayment + 20% Interest (by end of term), payment every 1 month, until it is paid off.
Payments every 1 month for 8 months (Estimated) : Est. 1 btc (every 1 month) + 8 months + 20% interest = 8 BTC
Collateral(s): This bitcointalk username/pass/Secret Q+Answer + my League of Legends Username and Password (level 30, 60+ skins approx, been playing since about Season 1 or 2)

I will also be upgrading the cloud mining part every day or two approx 10% of my balance each day in order to reach that goal of 9 months even quicker as an added bonus.
Thank you and I hope I am able to get this loan to finally be able to start my dream of mining big

Your math is as horrible as your collateral.. Lol sorry to be so blunt but I'm sure you'll cop alot worse from others here. Just giving u the heads up!

melwinder

sr. member

Activity: 252

Merit: 250

Hey everyone, so I was looking for a 6.5 BTC loan so I can use towards some miners, 20% Cloud mining + the rest real mining.

Repayment Time: Repayment + 20% Interest (by end of term), payment every 1 month, until it is paid off.
Payments every 1 month for 8 months (Estimated) : Est. 1 btc (every 1 month) + 8 months + 20% interest = 8 BTC
Collateral(s): This bitcointalk username/pass/Secret Q+Answer + my League of Legends Username and Password (level 30, 60+ skins approx, been playing since about Season 1 or 2)

I will also be upgrading the cloud mining part every day or two approx 10% of my balance each day in order to reach that goal of 9 months even quicker as an added bonus.
Thank you and I hope I am able to get this loan to finally be able to start my dream of mining big

Topic: Looking for a 6.5 BTC loan + 20% Interest / 2 Collaterals (Read 1597 times)