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Topic: [OPEN] Offering relatively large, short loans at 1.5% interest per day - page 2. (Read 9997 times)

ineededausername
hero member
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Merit: 1000
bitcoin hundred-aire
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
January 05, 2012, 05:37:11 PM
#17
Quote from: Maged on January 05, 2012, 05:20:28 PM
As per...
Quote from: Maged on September 29, 2011, 03:29:29 PM
As I said earlier, as long as the IBB is pretty much the only game in town, this will remain stickied. When that changes, this will either be unstickied or the other group's post will be stickied. I haven't quite decided which way to do it yet.
...I am stickying this topic.

Well, that's awfully convenient Grin
Maged
legendary
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Merit: 1015
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
January 05, 2012, 05:20:28 PM
#16
As per...
Quote from: Maged on September 29, 2011, 03:29:29 PM
As I said earlier, as long as the IBB is pretty much the only game in town, this will remain stickied. When that changes, this will either be unstickied or the other group's post will be stickied. I haven't quite decided which way to do it yet.
...I am stickying this topic.
ineededausername
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
January 02, 2012, 03:03:00 PM
#15
Quote from: PatrickHarnett on January 02, 2012, 03:01:11 PM
Just to play with the numbers, can we have a loan of 50,000 coins for a year - that should require a repayment larger than the total number of coins that will exist on 31 Dec 2012.

30-100 coins, max repayment term is 1 week.  Tongue
PatrickHarnett
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Activity: 518
Merit: 500
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
January 02, 2012, 03:01:11 PM
#14
Just to play with the numbers, can we have a loan of 50,000 coins for a year - that should require a repayment larger than the total number of coins that will exist on 31 Dec 2012.

I can see a use for these short term loans - might also be useful to have short term funds in other exchange currencies as well.  I missed a $0.98/coin arb waiting for funds to move from one exchange to the other over new-year.
ineededausername
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
January 02, 2012, 01:22:18 AM
#13
Quote from: ?? on ??
Quote from: ineededausername on January 02, 2012, 12:51:37 AM
Quote from: ?? on ??
Quote from: chungenhung on December 30, 2011, 02:13:42 PM
OP is rather smart. Borrow for 0.5% and lend for 1.5%.
It's like bank of america on a smaller scale.
Wow, I didnt see that before. You've got some good eyes.
To OP: N!CE work, Do i qualify?
Also, How "set in stone" is your minimum? Would intrest rates be subject to potential change if i were to attempt to activly loan Less than the minimum?

You definitely qualify Smiley
I'd be willing to give you a lower rate of 1.2% for small loans below 30.  Minimum for the smaller loans is 10btc.
N!ce.. Love the avatar.. Im stealing that..


I stole it from the Elitist Jerks LTC mining pool, who stole it from the intarwebz.  You aren't alone in your sentiment Smiley
ineededausername
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
January 02, 2012, 12:51:37 AM
#12
Quote from: ?? on ??
Quote from: chungenhung on December 30, 2011, 02:13:42 PM
OP is rather smart. Borrow for 0.5% and lend for 1.5%.
It's like bank of america on a smaller scale.
Wow, I didnt see that before. You've got some good eyes.
To OP: N!CE work, Do i qualify?
Also, How "set in stone" is your minimum? Would intrest rates be subject to potential change if i were to attempt to activly loan Less than the minimum?

You definitely qualify Smiley
I'd be willing to give you a lower rate of 1.2% for small loans below 30.  Minimum for the smaller loans is 10btc.
John (John K.)
legendary
Activity: 1288
Merit: 1227
Away on an extended break
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
January 02, 2012, 12:06:22 AM
#11
Quote from: copumpkin on December 30, 2011, 01:05:11 PM
The mob has a much more established, uh, "collections infrastructure" Smiley
LOL  Cheesy now we just need a bitcoin mob...
chungenhung
legendary
Activity: 1134
Merit: 1005
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 30, 2011, 02:13:42 PM
#10
OP is rather smart. Borrow for 0.5% and lend for 1.5%.
It's like bank of america on a smaller scale.
copumpkin
donator
Activity: 266
Merit: 252
I'm actually a pineapple
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 30, 2011, 01:05:11 PM
#9
Quote from: DeathAndTaxes on December 30, 2011, 10:20:48 AM
Quote from: vuce on December 30, 2011, 10:04:15 AM
Quote from: DeathAndTaxes on December 30, 2011, 10:01:14 AM
Quote from: chungenhung on December 30, 2011, 09:49:15 AM
Just a note. If you borrow 1BTC and pay back in one year.... your payment would be 229BTC when compounded daily.
OP did not state whether the 1.5% per day is compounded or not.

Um it is bad but not that bad.  I think you forgot a decimal point. Smiley

Nope, he didn't... 1.015^356 = 229.1

Ouch math fail on my part.  So roughly 23,000% APR.  Wow I think the mob has better rates and they don't care about your credit worthiness.

The mob has a much more established, uh, "collections infrastructure" Smiley
DeathAndTaxes
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Activity: 1218
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Gerald Davis
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 30, 2011, 10:20:48 AM
#8
Quote from: vuce on December 30, 2011, 10:04:15 AM
Quote from: DeathAndTaxes on December 30, 2011, 10:01:14 AM
Quote from: chungenhung on December 30, 2011, 09:49:15 AM
Just a note. If you borrow 1BTC and pay back in one year.... your payment would be 229BTC when compounded daily.
OP did not state whether the 1.5% per day is compounded or not.

Um it is bad but not that bad.  I think you forgot a decimal point. Smiley

Nope, he didn't... 1.015^356 = 229.1

Ouch math fail on my part.  So roughly 23,000% APR.  Wow I think the mob has better rates and they don't care about your credit worthiness.
vuce
sr. member
Activity: 476
Merit: 250
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 30, 2011, 10:04:15 AM
#7
Quote from: DeathAndTaxes on December 30, 2011, 10:01:14 AM
Quote from: chungenhung on December 30, 2011, 09:49:15 AM
Just a note. If you borrow 1BTC and pay back in one year.... your payment would be 229BTC when compounded daily.
OP did not state whether the 1.5% per day is compounded or not.

Um it is bad but not that bad.  I think you forgot a decimal point. Smiley

Nope, he didn't... 1.015^356 = 229.1
DeathAndTaxes
donator
Activity: 1218
Merit: 1079
Gerald Davis
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 30, 2011, 10:01:14 AM
#6
Quote from: chungenhung on December 30, 2011, 09:49:15 AM
Just a note. If you borrow 1BTC and pay back in one year.... your payment would be 229BTC when compounded daily.
OP did not state whether the 1.5% per day is compounded or not.

Um it is bad but not that bad.  I think you forgot a decimal point. Smiley
ineededausername
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 30, 2011, 10:00:15 AM
#5
Quote from: chungenhung on December 30, 2011, 09:49:15 AM
Just a note. If you borrow 1BTC and pay back in one year.... your payment would be 229BTC when compounded daily.
OP did not state whether the 1.5% per day is compounded or not.

It's compounded Tongue
chungenhung
legendary
Activity: 1134
Merit: 1005
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 30, 2011, 09:49:15 AM
#4
Just a note. If you borrow 1BTC and pay back in one year.... your payment would be 229BTC when compounded daily.
OP did not state whether the 1.5% per day is compounded or not.
ineededausername
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 29, 2011, 03:58:49 PM
#3
Quote from: DeathAndTaxes on December 29, 2011, 03:36:32 PM
Generous of you to offer 300%+ APR loans for those with good credit.

xD
Such is the state of bitcoin lending Wink
DeathAndTaxes
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Activity: 1218
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Gerald Davis
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 29, 2011, 03:36:32 PM
#2
Generous of you to offer 300%+ 23,000% APR loans for those with good credit.
ineededausername
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
Re: [OPEN] Offering relatively large, short loans at 1.5% interest per day
December 29, 2011, 03:25:58 PM
#1
I am offering short-term (1 day to 5 days) loans of 30-50 BTC to trustworthy members at 1.5% interest per day.  These loans are always available if the thread is marked "OPEN."  You can submit a request via PM or posting in this thread, and I will check it 3 times a day.  

Measures of trustworthiness
The following guarantee you a loan within 12 hours (I will not refuse a loan if you satisfy these conditions unless a significant complaint with evidence against you is posted in this forum)
> If you run (or ran) a reasonably popular website that people trust
> If you have done >=3 large deals on this forum (video cards, deals of >30 BTC)
> If you have an OTC rating of >20 with no negative ratings and have dealt on this forum before
> If someone I've dealt with in the past recommends you
> If I've dealt successfully with you in the past
> If you have asked for loans on this forum before and have repaid timely or generously every time (the latter applies to zer0! Smiley ) for at least 5 times
> If you are part of the board administration
> If you are an active developer working on Bitcoin and have >50 posts in the Development subforum

It helps if
> You are a long-time member, although that won't get you all the way
> You are a Hero Member
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