Topic: [Open] 6.4 BTC loan, collateral/escrow, monthly interest, ~5 months. - page 5. (Read 4535 times)

We will let the lender decide the risks and benefits, accounting for all the factors, fact being both sides are taking risks of some form or another. Once again, your advice is appreciated.

Updated further to account for market changes - all 6.4 BTC offer now up for lenders.

Collateral should be at the very minimum be worth 120% of the loan amount for established alt coins and more for newer (and less liquid alt coins). If you accept anything less then you will be at risk

Update: Loan amount and interest adjusted for recent price changes.

I hide nothing

Most importantly, the references indicate (aside from my trust feedbacks) my past history of fulfilling all deals no matter how big or small, regardless of difficulties. Those serve as a public proof of my dealings.

I consider other contents on those threads to be irrelevant (aside from mild amusement and/or their telling silence when my deals are concluded successfully).

Your point is noted

Why would you list this loan thread as a reference? Do you not see how unprofessional this makes you look?

A word to the wise, if you want to claim that your reputation is worth a lot on here then I would suggest that you not give a reference of you in a flame war with another user.

Rest assured, there are those who want to buy it cheaply

Since what the collateral is has been leaked.......the 24 hour volume of **** on bitter is ~1.6 BTC and it looks like there is similar 24 hour volume on other exchanges.

Looking at the order book on bitrex, polonex, and critpsy it doesn't look like there are even 7 BTC worth of bids across all the exchanges, let alone at the market rate.

tl;dr this seems a lot like an unsecured loan

Volatility goes both ways, and I think we can agree to disagree. Risk is there for both the lender and borrowers, both in terms of potential risk and benefits. I would be risking profit by having collateral tied up as well (if I pay it all back early, I would pay all the interest due no matter how much time remains).

Such is crypto scene as it is. I intend to follow through with everything, and every deal that are closed and repaid is all the more proof of my intentions. That is how I always operated, and I cannot fully make the terms beneficial for the borrower at the cost of putting myself at an unfair advantage.

Balance for all, no? Try to see it from another perspective.

If you are so doubtful, I would say you should try it out.

Saying you have much more to lose than X amount of BTC doesn't mean anything. As a lender, we always assume the worst and best case scenarios. In the worst, solid collateral that can be sold easily if need be (lender defaults or collateral price crashes) is required for a successful loan especially of this size and duration.

I don't know if you 'can' default anything when you deal square, but I hope you are more careful with such accusations.

Liquidation is off the table - I have much more to lose than 7 btc since people know my handle and everything is here for public view. Collateral has potential to go high low in blink of an eye - and liquidation for now is too risky and volatile an option.

According to last time he didn't want this to happen, so it could it mean he has a choice to default or not.

If the value of noble crashes he can default, if it spikes he just pays back the loan and takes the noble back (just a theory at the moment).

Collateral is the same as the last time I spoke via pm I can send you details again if you need, as well as the terms.

Interested in lending 0.5 -1 BTC. What collateral will you be providing and will we be able to liquidate the collateral once the value reaches a certain amount?

Maidak is someone I can agree upon. Let me search through my PMs to find the details.

Same that I pm'd you about. Collateral value is slightly below monthly market price avg, so should cover 7 btc easy.

As for the escrow, it's really anyone we can both agree on. I have used Maidak before, so we can go with him if you want. I suggested Rofo because of the public profile there if you checked the linkedin, twitter, and noblemovement website

Interested. Can you clarify who you are suggesting to use as escrow? You appear to have put a link to someone's profile with no trust (who obviously no one will agree to use).

What alt coin are you using for collateral this time around?

Amount: Total 5.7 btc loaned out - still receiving loan offer of any amount with below terms but will be uncollateralized if offered due to collaterals being 100% promised to current interested parties.

Duration: 150 days (about 5 months, can be paid back earlier depending on negotiations)

Repayment amount: Total of 30% interest + Principle. Every 30 days, I will pay out 6% interest, and principle will be fully repaid along with the last 6% interest payment after 150 days (about 5 months). 6% (every 30 days) X 5 = 30% interest for 150 days. 6.4 BTC + 1.92 BTC in 30% interest = total 8.32 btc repayment.

Essentially, 6% interest on the principle will be paid out to you every 30 days from the beginning of the loan, four times until 150 days are up (about 5 months) at which point all 6.4 btc + last 6% interest payment will be made, GMT.

Loan purpose: I am deeply involved in btc trades and also in the altcoin scene. My previous transactions in the trust category can speak for themselves.

You can check the previous threads here:

https://bitcointalk.org/index.php?topic=398293.0;all

https://bitcointalk.org/index.php?topic=430970.new#new

https://bitcointalk.org/index.php?topic=751645.0;all

https://bitcointalksearch.org/topic/m.9389799


I can provide a collateral in a different coin to cover most of the loan at the current avg monthly market price, if that would ease your concerns due to this request being a relatively large amount. Escrow will be the one we both agree on that can be trusted to hold the collateral. I would prefer to ask this public escrow to hold the collateral:

Rofo (aka Jason L. Curby profile):

https://www.noblemovement.com/nobleescrow/

https://bitcointalksearch.org/user/rofo-198862

https://au.linkedin.com/pub/jason-curby/27/9b8/994

https://twitter.com/NobleCoin

Not some faceless anonymous escrow on btc talk, so I would trust him personally. We can discuss it further.



Also, you can say my collateral is my reputation not only on btc talk forum trading reputation, but also my crypto reputation in general (irc, twitter, other forums etc) since people i work with know my forum handle. I would like to state this just to make clear what I am proposing.

I reserve the right to pay everything back earlier (all 30% interest + principle).

Thank you for taking time to read this request - I have posted in several threads seeking a loan for similar conditions. Anyone who comes first will have priority in terms of negotiations.

Most terms are negotiable. PM me for details on the collateral.

Thank you in advance


Update: Loan amount adjusted to reflect the recent price changes.
Update #2: More adjustments to the terms, extended time period and loan amounts.
Update #3: ducatitalia reserved 4 btc with negotiated terms.
Update #4: lihuajkl reserved 1.7 btc with negotiated terms. Collateral completely promised. OP updated. Waiting on escrow.