Hello,
I am offering loans from 0.1 to 1 BTC. I do not care what you do with the money, as long as you can provide the collateral it is all yours
I am self moderating the thread so any loan request which doesn't provide the required collateral will be deleted. I do not want coupons, steam games, accounts, whatever. I MAY consider jewelry and precious metals but this kind of items will have to be shipped to me for evaluation.
Available funds: 2 BTCMonthly Interest: 5% (may be discussed)
Payments: to be negotiated, usually weekly.
Loan duration: 1 week minimum - 2 month maximum
Collateral required: 110% minimum if Daily payment mode is chosen. 120% otherwise
I will accept most altcoins as collateral, however is in YOUR best interest to provide a stable one and MORE than the minimum amount. Read below. Escrow: escrow is welcome if he/she is willing to comply with my rules, is a trusted member of this forum chosen by lender and borrower, and the borrower pays all involved feesWhen the borrower sends the collateral to me I will place it on a selected exchange between cryptsy, mintpal or btc-e, if it is stable enough nothing will happen. Weeks will pass, interests will be paid and the loan will reach its end peacefully. Sadly, if the collateral/BTC price drops it may reach the point where I am forced to execute a "margin call".
Margin Call rule:
"If the value of the cross altcoin/BTC on the selected exchange drops to 102% (daily payments) or 110% (weekly payments), the collateral will be immediately liquidated and the loan will end."This is to protect me against value drops of the collateral provided and allows the borrower to use speculative altcoins as collateral IF he is willing to take the risk of a margin call.
As I deem myself a fair and reputable person I will also allow the
opposite: if the cross value rises against the BTC (the altcoin gains value), the borrower may ask for collateral cashout down to the minimum amount required.
P.S: As this is
my way of handling collateral I will be held responsible if the exchange defaults or loses the funds in part or full.
Loans Supplied:Successfully repaid/called In Progress Defaulted ------------------------------------------------------------------------------------------------------------------------------------------------
None!