Topic: LOOKING FOR A BITCOIN MORTGAGE (Read 643 times)
moved to long term offers.
So I part with my 45 BTC and what do I get? GAYmoney. And what is that worth? Nothing. There is no marketcap, no liquidity in the exchanges it does trade on. All you have done here is appeal to your hopes and aspirations for the coin, but that is also worth nothing.
GAYmoney is worth .0002485 BTC presently (USD $0.62) which has been a fairly steady average rate over the last month.the volume is the issue which is why ive offered substantially higher percentage of escrowed value compared to purchase price (200-250% for a load paying out in BTC or 300% if paying out in GAYmoney) than what most loans ask for (120%) and this was done to help insulate against valuation loss for GAYmoney, because yes, while i have aspirations for working with this currency, im a realist and know the market can go any damn way it chooses. there is heavy development occuring and ive been around long enough to know that the sort of features we are adding will build volume and should hold valuation at the very least steady.
as for market cap (http://coinmarketcap.com/currencies/gaycoin/#BTC) provides a little information, and the block explorer shows toatl coin issuance. the 5 billion reserve that frightens so many people because of how scams have occurred in the past with currencies, has been sitting with full balance from the coin's genesis. (gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev) he has built his own balance of his currency for himself, and the premined amount is set for slow philanthropic disbursement with direct community input, that premine is not something that could be dumped.
if one actually takes (coin supply*market price) into consideration, GAYmoney has a total market cap of (5603079598*0.62) or just under $3.5 billion dollars US (which puts it as #4 total market cap overall) or if one simply considers circulating currency (although XRP counts in the 60 billion in reserves that currency development holds onto presently towards its market cap) still presents a circulating cvalue of USD $374 million, which still positions GAYmoney in the #13 spot total market cap. so GAYmoney was value, it simply doesnt have the necessary volume presently, otherwise i wouldnt be looking for a mortgage. the volume can and will be built, which will only improve the positioning of GAYmoney, but the honest assessment of the currency, if you consider it valueless, you would have to also consider anything below it in market cap (LTC, DASH, ETC) to be valueless as well.
lack of volume doesnt equate lack of value. but thanks for looking and taking the time to reply.
Maybe if Op,instead giving as collateral something that is dust, to offer the house that wants to buy.
i'm more than sure that this way he will find a lot of lenders...
BTW,with the way that you describe your repayments and the whole system of yours,you repay from your collateral.
so in fact,you dont repay,you just liquided a portion of your collateral each time...
i'm more than sure that this way he will find a lot of lenders...
BTW,with the way that you describe your repayments and the whole system of yours,you repay from your collateral.
so in fact,you dont repay,you just liquided a portion of your collateral each time...
you mean to offer the house that is purchased as further collateral? thats fine. if a lender wanted that as wurety beyond the payment process, that can be worked into the contract, and property information would naturally be provided. i go in to have a home inspection done on monday, the report of which would also be included.
and with the repayment schedule, its not using the balance of the posted collateral for each payment, its using the bi-weekly (or monthly) minted portion above the baseline collateral to make payment, without touching the originally set wallet balance (i.e. the 250,000 GAYcoins set in escrow would not be affected and the balance at the end of 60 months would remain at 250,000 GAY)
Maybe if Op,instead giving as collateral something that is dust, to offer the house that wants to buy.
i'm more than sure that this way he will find a lot of lenders...
BTW,with the way that you describe your repayments and the whole system of yours,you repay from your collateral.
so in fact,you dont repay,you just liquided a portion of your collateral each time...
i'm more than sure that this way he will find a lot of lenders...
BTW,with the way that you describe your repayments and the whole system of yours,you repay from your collateral.
so in fact,you dont repay,you just liquided a portion of your collateral each time...
That coin doesn't have a listed market cap, doesn't have a listed total supply and doesn't have a listed daily traded volume. If those stats are available somewhere, you should definitely put a link to them. Maybe then someone would even consider giving you what you ask.
Move this to Long-Term Offers, so the interested lenders will find your thread easier 
edited OP after advice from a user. thank you to all who take the time to read thru the whole OP. as you can see, this proposal is fairly well thought out and has a fair bit of negotiating room, so even if i can attract a few people to crowd-fund this, we could make history. ill provide information on the property and the house inspection to any potential investor.
May I ask what is the altcoin youre putting up as collateral (unless I misread the OP and you did state the name of the altcoin)?
responded via PM with more details. thank you for yuir interest.
Im looking for a bitcoin funded mortgage. Im asset-rich and fiat-poor, but have the opportunity to purchase a grand victorian home for about half of what it would cost to build. i am a long-time user of bitcointalk, and have ongoing development involvement with two separate active currencies over the last two years.
Essentially, I need to borrow between 40 and 45 BTC, with repayment scheduled over 5 years with a minimum 25% return. I have collateral in the form of a PoS altcoin with a 20% APR, and will be wiling to put 200-250% of the loan value in escrow, secured by multi-sig. i will present the lender with the option to take bi-weekly or monthly payments either in the minted currency from the escrowed wallet or to have those funds converted to BTC and used as direct payment against the principle.
eg:
altcoin average value over last 30 days: USD $0.50
escrowed wallet size: 250,000 units
daily minting: ~125 units (assumable value: USD $62.50)
therefore, bi-weekly lender would receive either 1750 units of the escrowed altcoin, OR those would be sold on market for BTC, which is paid directly against the debt (average of $875 worth). monthly, this would equal 3750 units of the currency or sold for BTC to be paid directly against the debt ($1875 worth).
based on current prices, the principle would be paid down after approx 42 months (3.5 years) which would produce 18 months of pure interest delivered to the lender. as per standard mortgage practices, this interest would be applied foremost to the repayment plan, 95% interest to 5% principle until the assumable interest (approx 14 BTC) is covered. i would also offer a three month early payment penalty (2.33 BTC) should my other reserves of this altcoin generate enough money to effectively shorten the loan period, which is likely.
if the lender wishes, they can simply take the whole minited balance on a regular schedule, which will conclude the loan after 5 years. we can negotiate this timeframe as well, either a larger escrowed amount over a shorter time if necessary. (will escrow up to 300% the value of the loan over 5 years if lender wishes to take this route)
id be willing to take several smaller lenders coming together to fund this, which will produce proportional payments on the agreed-upon schedule, although all lenders would need to agree on one form of payment (in BTC or altcoin) at the outset of the loan.
at the conclusion of the loan, the escrowed balance of currency will be returned to my sole control. there is risk in this sort of loan, what if bitcoin tanks? what if my altcoin fulfills its plan for the coming months and reaches USD $1 parity or more? there is possibility of great reward, but i will do my best to mitigate any liklihood of loss, and should the altcoin escrowed fall in value below a certain threshold, i will top up the escrowed amount to compensate. this option may be visited once every 6 months.
conversely, i would be willing to sell this altcoin outright, at between 50-66% its current market value, depending on the offer. (ie: 40 BTC for ~300,000 units of currency based on an aggregate USD $0.33 unit cost, we can negotiate this)
i would also offer up my senior member account as escrow, as long as i can continue to post with it as i am involved with a couple development teams.
please send me a PM for more details or to begin negotiations. thank you for your time.
Essentially, I need to borrow between 40 and 45 BTC, with repayment scheduled over 5 years with a minimum 25% return. I have collateral in the form of a PoS altcoin with a 20% APR, and will be wiling to put 200-250% of the loan value in escrow, secured by multi-sig. i will present the lender with the option to take bi-weekly or monthly payments either in the minted currency from the escrowed wallet or to have those funds converted to BTC and used as direct payment against the principle.
eg:
altcoin average value over last 30 days: USD $0.50
escrowed wallet size: 250,000 units
daily minting: ~125 units (assumable value: USD $62.50)
therefore, bi-weekly lender would receive either 1750 units of the escrowed altcoin, OR those would be sold on market for BTC, which is paid directly against the debt (average of $875 worth). monthly, this would equal 3750 units of the currency or sold for BTC to be paid directly against the debt ($1875 worth).
based on current prices, the principle would be paid down after approx 42 months (3.5 years) which would produce 18 months of pure interest delivered to the lender. as per standard mortgage practices, this interest would be applied foremost to the repayment plan, 95% interest to 5% principle until the assumable interest (approx 14 BTC) is covered. i would also offer a three month early payment penalty (2.33 BTC) should my other reserves of this altcoin generate enough money to effectively shorten the loan period, which is likely.
if the lender wishes, they can simply take the whole minited balance on a regular schedule, which will conclude the loan after 5 years. we can negotiate this timeframe as well, either a larger escrowed amount over a shorter time if necessary. (will escrow up to 300% the value of the loan over 5 years if lender wishes to take this route)
id be willing to take several smaller lenders coming together to fund this, which will produce proportional payments on the agreed-upon schedule, although all lenders would need to agree on one form of payment (in BTC or altcoin) at the outset of the loan.
at the conclusion of the loan, the escrowed balance of currency will be returned to my sole control. there is risk in this sort of loan, what if bitcoin tanks? what if my altcoin fulfills its plan for the coming months and reaches USD $1 parity or more? there is possibility of great reward, but i will do my best to mitigate any liklihood of loss, and should the altcoin escrowed fall in value below a certain threshold, i will top up the escrowed amount to compensate. this option may be visited once every 6 months.
conversely, i would be willing to sell this altcoin outright, at between 50-66% its current market value, depending on the offer. (ie: 40 BTC for ~300,000 units of currency based on an aggregate USD $0.33 unit cost, we can negotiate this)
i would also offer up my senior member account as escrow, as long as i can continue to post with it as i am involved with a couple development teams.
please send me a PM for more details or to begin negotiations. thank you for your time.
May I ask what is the altcoin youre putting up as collateral (unless I misread the OP and you did state the name of the altcoin)?
Im looking for a bitcoin funded mortgage. Im asset-rich and fiat-poor, but have the opportunity to purchase a grand victorian home for about half of what it would cost to build. i am a long-time user of bitcointalk, and have ongoing development involvement with two separate active currencies over the last two years.
Essentially, I need to borrow between 40 and 45 BTC, with repayment scheduled over 5 years with a minimum 25% return. I have collateral in the form of a PoS altcoin GAYmoney (which features a 20% APR), and will be wiling to put 200-250% of the loan value in escrow, secured by multi-sig. i will present the lender with the option to take bi-weekly or monthly payments either in the minted currency from the escrowed wallet or to have those funds converted to BTC and used as direct payment against the principle.
eg:
GAYmoney average value over last 30 days: (USD $0.50)
current value via coinmarketcap: (USD $$0.620959)
escrowed wallet size: 250,000 units (assumable value @ $0.50: USD $152,500)
daily minting: ~125 units (assumable value @ $0.50: USD $62.50)
therefore, bi-weekly lender would receive either 1750 units of the escrowed altcoin, OR those would be sold on market for BTC, which is paid directly against the debt (average of $875 worth). monthly, this would equal 3750 units of the currency or sold for BTC to be paid directly against the debt ($1875 worth).
based on current prices, the principle would be paid down after approx 42 months (3.5 years) which would produce 18 months of pure interest delivered to the lender. as per standard mortgage practices, this interest would be applied foremost to the repayment plan, 95% interest to 5% principle until the assumable interest (approx 14 BTC) is covered. i would also offer a three month early payment penalty (2.33 BTC) should my other reserves of this altcoin generate enough money to effectively shorten the loan period, which is likely.
if the lender wishes, they can simply take the whole minited balance on a regular schedule, which will conclude the loan after 5 years. we can negotiate this timeframe as well, either a larger escrowed amount over a shorter time if necessary. (will escrow up to 300% the value of the loan over 5 years if lender wishes to take this route)
id be willing to take several smaller lenders coming together to fund this, which will produce proportional payments on the agreed-upon schedule, although all lenders would need to agree on one form of payment (in BTC or altcoin) at the outset of the loan.
at the conclusion of the loan, the escrowed balance of currency will be returned to my sole control. there is risk in this sort of loan, what if bitcoin tanks? what if my altcoin fulfills its plan for the coming months and reaches USD $1 parity or more? there is possibility of great reward, but i will do my best to mitigate any liklihood of loss, and should the altcoin escrowed fall in value below a certain threshold, i will top up the escrowed amount to compensate. this option may be visited once every 6 months.
conversely, i would be willing to sell this altcoin outright, at between 66-75% its current market value, depending on the offer. (ie: 40 BTC for ~300,000 units of currency based on an aggregate USD $0.33 unit cost, we can negotiate this)
for the sake of transparency, i am involved with the current development of GAYmoney, so these funds are simply a portion of my developer's reserve. this currency has been somewhat under-the-radar since it was launched in 2014. the original developer is still very much involved with the project, he simply faced the sorts of prejudice and homophobia on his original announcements that caused him to lock the threads. i will be administering the new [ANN] as we get closer to the relaunch, i simply want to have the services we are working on to be ready for a rebranding of the project beforehand.
together we are working on this rebrnading, which will be live for September 2017. we have secured the rights to the gay.money and gay.foundation domains and will be running two websites, as this project truly has two arms - the cryptocurrency arm to assess unit value and real world integrations and a philanthropic arm which will use direct community involvement for LGBT+ advocacy and social awareness campaigns as well as HIV/AIDS research and funding towards womens shelters. this is what Mr. Lawin hopes to be a legacy, and reflects his experiences growing up behind the iron curtain of eastern europe during a period his sexual identity was considered a criminal offense. there will be a lot of movement in the next few months as Mr. Lawin, the lead developer, want to provide a legacy of charitable work for these communities for years to come. we have already begun reaching out to other LGBT philanthropic organizations to help with this project, but those remain very preliminary, and will be more concrete as the rebranding approaches.
we are working on securing the licensing for a GAYmoney centric exchange with fiat gateways and pairings to major cryptocurrencies. we will also be launching better.exchange which will host cryptocurrencies that have a social conscience. we are also in the process of registering GAYmoney LLC as a corporate entity and will providing a complete dedication to transparency in all aspects of the project. we are also in the process of attracting businesses within the LGBT community to accept GAYmoney as tender, presently focusing on the LGBT-owned or friendly b&b markets. i am becoming very active with the local LGBT communites in my region, because i have to have that sort of connection with the community to understand its needs.
i will be receiving a wage for my work on GAYmoney, on top of my developer's reserve and the hope is to turn the enterprise into a well-regulated industry serving the digital financial needs of a community that serves an approximate 7% of the global population, and is as diverse as any other market, with one common indentifying birthright which is a hugely unifying factor. i will aso be maintaining my work on my other project, which is completely unassociated with GAYmoney: SOILcoin.. which is an ETH clone launched in 2015 with a direction towards renewable energy applications as well as distributed scientific computing for climate prediction, precision farming dApps and overall environmental awareness. so, in a way yuir investing in ME as well with this sort of loan, but ive been working hard in the sphere of cryptocurrency for awhile and have very strong views about the necessary high standards developers and exchanges must operate under, and im in the game for the long haul. this is simply a screaming good deal on the home of my dreams, something to secure my family's future while i work on something which promises to create a whole lot of good in the world.
i apologize for the length of this post, but if you research my writing here on bitcointalk, this is generally the sort of writer that i am. i wanted to avoid brinigin GAYmoney up into the wholesale public conversatin, simply due to the reaction it gets from some people who have bias towards that community, so please, keep the conversation civil responding to this post, ok? i think that this sort of arrangement might be the start of an entire industry.. crypto-secured mortgages with the security of the blockchain. we're all about disrupting everything so lets disrupt the mortgage industry!
please send me a PM for more details or to begin negotiations. thank you for your time.
Essentially, I need to borrow between 40 and 45 BTC, with repayment scheduled over 5 years with a minimum 25% return. I have collateral in the form of a PoS altcoin GAYmoney (which features a 20% APR), and will be wiling to put 200-250% of the loan value in escrow, secured by multi-sig. i will present the lender with the option to take bi-weekly or monthly payments either in the minted currency from the escrowed wallet or to have those funds converted to BTC and used as direct payment against the principle.
eg:
GAYmoney average value over last 30 days: (USD $0.50)
current value via coinmarketcap: (USD $$0.620959)
escrowed wallet size: 250,000 units (assumable value @ $0.50: USD $152,500)
daily minting: ~125 units (assumable value @ $0.50: USD $62.50)
therefore, bi-weekly lender would receive either 1750 units of the escrowed altcoin, OR those would be sold on market for BTC, which is paid directly against the debt (average of $875 worth). monthly, this would equal 3750 units of the currency or sold for BTC to be paid directly against the debt ($1875 worth).
based on current prices, the principle would be paid down after approx 42 months (3.5 years) which would produce 18 months of pure interest delivered to the lender. as per standard mortgage practices, this interest would be applied foremost to the repayment plan, 95% interest to 5% principle until the assumable interest (approx 14 BTC) is covered. i would also offer a three month early payment penalty (2.33 BTC) should my other reserves of this altcoin generate enough money to effectively shorten the loan period, which is likely.
if the lender wishes, they can simply take the whole minited balance on a regular schedule, which will conclude the loan after 5 years. we can negotiate this timeframe as well, either a larger escrowed amount over a shorter time if necessary. (will escrow up to 300% the value of the loan over 5 years if lender wishes to take this route)
id be willing to take several smaller lenders coming together to fund this, which will produce proportional payments on the agreed-upon schedule, although all lenders would need to agree on one form of payment (in BTC or altcoin) at the outset of the loan.
at the conclusion of the loan, the escrowed balance of currency will be returned to my sole control. there is risk in this sort of loan, what if bitcoin tanks? what if my altcoin fulfills its plan for the coming months and reaches USD $1 parity or more? there is possibility of great reward, but i will do my best to mitigate any liklihood of loss, and should the altcoin escrowed fall in value below a certain threshold, i will top up the escrowed amount to compensate. this option may be visited once every 6 months.
conversely, i would be willing to sell this altcoin outright, at between 66-75% its current market value, depending on the offer. (ie: 40 BTC for ~300,000 units of currency based on an aggregate USD $0.33 unit cost, we can negotiate this)
for the sake of transparency, i am involved with the current development of GAYmoney, so these funds are simply a portion of my developer's reserve. this currency has been somewhat under-the-radar since it was launched in 2014. the original developer is still very much involved with the project, he simply faced the sorts of prejudice and homophobia on his original announcements that caused him to lock the threads. i will be administering the new [ANN] as we get closer to the relaunch, i simply want to have the services we are working on to be ready for a rebranding of the project beforehand.
together we are working on this rebrnading, which will be live for September 2017. we have secured the rights to the gay.money and gay.foundation domains and will be running two websites, as this project truly has two arms - the cryptocurrency arm to assess unit value and real world integrations and a philanthropic arm which will use direct community involvement for LGBT+ advocacy and social awareness campaigns as well as HIV/AIDS research and funding towards womens shelters. this is what Mr. Lawin hopes to be a legacy, and reflects his experiences growing up behind the iron curtain of eastern europe during a period his sexual identity was considered a criminal offense. there will be a lot of movement in the next few months as Mr. Lawin, the lead developer, want to provide a legacy of charitable work for these communities for years to come. we have already begun reaching out to other LGBT philanthropic organizations to help with this project, but those remain very preliminary, and will be more concrete as the rebranding approaches.
we are working on securing the licensing for a GAYmoney centric exchange with fiat gateways and pairings to major cryptocurrencies. we will also be launching better.exchange which will host cryptocurrencies that have a social conscience. we are also in the process of registering GAYmoney LLC as a corporate entity and will providing a complete dedication to transparency in all aspects of the project. we are also in the process of attracting businesses within the LGBT community to accept GAYmoney as tender, presently focusing on the LGBT-owned or friendly b&b markets. i am becoming very active with the local LGBT communites in my region, because i have to have that sort of connection with the community to understand its needs.
i will be receiving a wage for my work on GAYmoney, on top of my developer's reserve and the hope is to turn the enterprise into a well-regulated industry serving the digital financial needs of a community that serves an approximate 7% of the global population, and is as diverse as any other market, with one common indentifying birthright which is a hugely unifying factor. i will aso be maintaining my work on my other project, which is completely unassociated with GAYmoney: SOILcoin.. which is an ETH clone launched in 2015 with a direction towards renewable energy applications as well as distributed scientific computing for climate prediction, precision farming dApps and overall environmental awareness. so, in a way yuir investing in ME as well with this sort of loan, but ive been working hard in the sphere of cryptocurrency for awhile and have very strong views about the necessary high standards developers and exchanges must operate under, and im in the game for the long haul. this is simply a screaming good deal on the home of my dreams, something to secure my family's future while i work on something which promises to create a whole lot of good in the world.
i apologize for the length of this post, but if you research my writing here on bitcointalk, this is generally the sort of writer that i am. i wanted to avoid brinigin GAYmoney up into the wholesale public conversatin, simply due to the reaction it gets from some people who have bias towards that community, so please, keep the conversation civil responding to this post, ok? i think that this sort of arrangement might be the start of an entire industry.. crypto-secured mortgages with the security of the blockchain. we're all about disrupting everything so lets disrupt the mortgage industry!
please send me a PM for more details or to begin negotiations. thank you for your time.
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