Need Loan 2.00 BTC | Bitcointalksearch.org

erre

legendary

Activity: 1680

Merit: 1205

Quote from: HellaYellaFella on June 17, 2015, 01:09:43 PM

Thank you all for the offers, but after further thought with the benefit of being fully awake (I created this loan request while still half-asleep), I've decided to table it for now. It's not that I don't trust myself to pay back the loan, or any lack of trust on behalf on you potential lenders to securely hold my collateral. I just don't trust my trading skills enough, even though I'm very certain that the LTC/BTC ratio will continue to rise as we approach the block reward halving. Thanks, EcuaMobi, for sewing that little seed of doubt (clarity?) to help me realize the risk.

You can just leverage ltc long, u don't need a loan to buy more litecoins!:)

HellaYellaFella

newbie

Activity: 36

Merit: 0

Thank you all for the offers, but after further thought with the benefit of being fully awake (I created this loan request while still half-asleep), I've decided to table it for now. It's not that I don't trust myself to pay back the loan, or any lack of trust on behalf on you potential lenders to securely hold my collateral. I just don't trust my trading skills enough, even though I'm very certain that the LTC/BTC ratio will continue to rise as we approach the block reward halving. Thanks, EcuaMobi, for sewing that little seed of doubt (clarity?) to help me realize the risk.

Quickseller

copper member

Activity: 2996

Merit: 2374

If this loan has not been filled in 6 hours or so then I would be able to fill this loan. I will however have a few conditions and would want to adjust a few of your proposed terms to something that would better protect me. I do however feel my terms will be fair to both parties

Edit: I would also be willing to escrow this for a 1% fee (payable in LTC)

PryptoMontreal

sr. member

Activity: 588

Merit: 285

I can provide this loan if you can provide 130% of collateral. Do come back to me if interested. Also, in my terms, it would be stated clearly that if incase LTC's value drops, I would have right to sell those if they drop to 110% of loan value.

Thanks

deadley

legendary

Activity: 2562

Merit: 1064

Always use 3rd party trusted escrow for holding collateral. There is many who try to ask you send collateral first and run away.

EcuaMobi

legendary

Activity: 1876

Merit: 1475

The only problem here is that because LTC increased its value so much lately it's possible it can go back to 0.007xx levels soon (or keep going up, anything is possible). I can do this with these conditions, let me know if it's agreeable:

I need 150% collateral in LTC
If LTC price goes down and the collateral is worth less than 120% then I'll notify and you'll have 24 hours to either give more LTC collateral or repay part of the BTC until you cover 150% again, otherwise I have the right to sell the collateral, keep the loan plus interest (5% or 10%, see below) and refund the rest of the LTC to you.
Interest will be 5% if repaid in less than 2 weeks, or 10% if repaid in 2 weeks or more, up to one month.
If not repaid in one month I'll sell the collateral, keep the loan plus 15% and refund the rest of LTC to you, if any.

HellaYellaFella

newbie

Activity: 36

Merit: 0

Amount Requested: 2.00 BTC
Date repayment is to be made: 30 days from time of loan, but I reserve the right to pay back earlier (possibly even the same day, markets permitting)
Repayment Amount: 2.10 BTC (Principle + 5%)
Collateral: 110% Litecoin equivalent
BTC address to fund the loan to: 178bYys77o4GLj4C5vPGsXLY8PjYm8JKjJ

Reason for Loan: With the forthcoming Litecoin block reward reduction, I'm hoping to capitalize on the inevitable and organic BTC/LTC rise. My plan is to buy 2.00 BTC worth of LTC now, then sell a little bit later (within the 30 day repayment window) for a profit. Hopefully that profit is sufficient to recover my LTC collateral and have a little BTC left over.

If LTC happens to drop below a point where my collateral is insufficient to cover the loan amount, I will fund the difference, including the 5% interest, from a separate address:

Address: LdhHfUqYgh5QV96uriKwnVBzbrymGet9a3
Message: This is HellaYellaFella from Bitcointalk. June 17, 2015.
Signature: H7WUGukvDH3gnFHsPOL6abw/XFMk01Cbxtctk1Voi+/I73tFe6cfY53VgmzCQrjxQRMsHVuvGphsIjdprquFLcM=

And yes, I realize that I'm also selling 1.50 BTC in this thread. That's a separate matter in which I just need some quick cash to pay back an IRL debt to a fiat-lover who won't take Bitcoin.

On hold.

Topic: Need Loan 2.00 BTC (Read 488 times)