All of coinlenders "investors" are on a long position, thats why TF doesnt care if the BTC price goes up or down not to mention that he only offer you a loan if you provide collateral which you said above you would rather not want to offer.
Someone whos trying to make a profit (profit in a real currency) cannot offer you BTC @ 2% for such a long period.
Topic: Looking to short 1-3 BTC (Read 873 times)
Why not use Bitfinex or some other trading platform?
Because he would have to pay a more serious interest rate and not this joke of 2% per 15 days that hes offering
It's probably pretty close to the interest rate there, maybe he already maxed out his leverage though.
I decided to not take anyone up on this, even though 2 people offered. Bitcoins have stabilized imo for near future, still am bear long term hopefully I am wrong though. The "joke of 2%" is more then coinlenders offers. Do the math its higher then any bank in the world. Anyways thanks to the two who offered to help, best of luck to all.
Also to answer those who asked about those companies, I looked into those and the interest rates are not what I am willing to pay for shorting 15 or 30 days.
Why not use Bitfinex or some other trading platform?
Because he would have to pay a more serious interest rate and not this joke of 2% per 15 days that hes offering
It's probably pretty close to the interest rate there, maybe he already maxed out his leverage though.
Why not use Bitfinex or some other trading platform?
Because he would have to pay a more serious interest rate and not this joke of 2% per 15 days that hes offering
Why not use Bitfinex or some other trading platform?
Looking to short 1-3 BTC to try this out, offering 2.0% per 15 days max 30 day loan. Interest is based on everyday, if paid back 15 days later you receive your BTC +2%. If paid back early you get 0.1333% per day. The interest is not compounded, thus if paid back after 5 days I owe you the principal + .6667%.
My plan is to simply sell the BTC at current value, leave it on an exchange and buy it back when I see fit and pay it back in BTC when I think my max profit has been reached. If I make a loss here I will buy the rest of the BTC owed via Coinbase where I am a level two member and get BTC instantly with no wait. Only collateral I could possibly owe up is my 30 day CD for 5.05 BTC I have on coinlenders but honestly I'd rather not.
My reputation thread is below in my signature, I have done deals as much as $1200 and followed thru with every one of them, almost all they sent first to me. I buy/sell BTC all the time and will continue to do so during this loan. Can provide name and information if it is a must, I am mainly doing this because in the past I have been correct about drops and gains, and for the near future I am bearish for BTC.
Comment or PM if interested. If this is not filled its fine, its more of an experiment to see if I am right about where I think the price is headed in the short future.
My plan is to simply sell the BTC at current value, leave it on an exchange and buy it back when I see fit and pay it back in BTC when I think my max profit has been reached. If I make a loss here I will buy the rest of the BTC owed via Coinbase where I am a level two member and get BTC instantly with no wait. Only collateral I could possibly owe up is my 30 day CD for 5.05 BTC I have on coinlenders but honestly I'd rather not.
My reputation thread is below in my signature, I have done deals as much as $1200 and followed thru with every one of them, almost all they sent first to me. I buy/sell BTC all the time and will continue to do so during this loan. Can provide name and information if it is a must, I am mainly doing this because in the past I have been correct about drops and gains, and for the near future I am bearish for BTC.
Comment or PM if interested. If this is not filled its fine, its more of an experiment to see if I am right about where I think the price is headed in the short future.
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