Do not worry the trustee is a trusted forum member, I am just waiting on his word to release his name. He has been a member of the community since 2011 and has one of the largest most organized mining operations I have ever seen.
See how it works here, he hosts the miners while holding them in trust.
Topic: Request Dropped (Read 523 times)
Please reread thank you.
Reread done. Confirmed NOT collateral.
..unless the "trusted" forum member holding the miners is trustable for the potential lender too. Who is him/her?
Basically YOU are choosing the escrow, it has to be agreed upon by both parties
Now if that loan is secured you should not be offering it at the same interest rate as a unsecured loan.
But it is not secured... if the miner is in your hands it is not collateral.
(Gauging Interest) This is a secured collateral based bond, not a bitcointalk re-make like most bonds.
Trust, A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
Interest rate, The interest rate is set at 6% per month. Ex. 3.5BTC would yield a return of 1.26BTC return after 6 months. In dollars it would be $2000 Principal, and $720 in interest.
Trust, A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
Interest rate, The interest rate is set at 6% per month. Ex. 3.5BTC would yield a return of 1.26BTC return after 6 months. In dollars it would be $2000 Principal, and $720 in interest.
Now if that loan is secured you should not be offering it at the same interest rate as a unsecured loan.
But it is not secured... if the miner is in your hands it is not collateral.
Sure we could aim the miners at a escrow wallet and have him pay the monthly payments and then disburse the rest. hs.
I am not aiming this at anyone particular but, low interest? Not everyone in bitcoin intends to set out to scam someone or take the money. But these unrealistic interest rates help them say fuck it and run.
If you look at any thing besides bitcoin, 6% is amazing returns. Its just like anything else though interest rates reflect risk... when no one was putting up collateral the risk was high thus the interest rate reflected it.
Now if that loan is secured you should not be offering it at the same interest rate as a unsecured loan.
I am not aiming this at anyone particular but, low interest? Not everyone in bitcoin intends to set out to scam someone or take the money. But these unrealistic interest rates help them say fuck it and run.
If you look at any thing besides bitcoin, 6% is amazing returns. Its just like anything else though interest rates reflect risk... when no one was putting up collateral the risk was high thus the interest rate reflected it.
Now if that loan is secured you should not be offering it at the same interest rate as a unsecured loan.
I agree, there are too many variables for such a low interest loan.
Altcoin or precious would be a lot better.
Altcoin or precious would be a lot better.
What in addition to the miners themselves will be held in trust? Like maybe the BTC payments themselves? Or perhaps the miners backing the loan are worth more than the face value of the loan? What I mean is, as it is currently written, we give you money now, today, secured by miners. We will assume for the sake of argument that there is sufficient mining equipment to cover the loan. Problem is, the first real payment isn't until 3 months later. You could of course take the money and purchase the miners. Mine for three months, making the first two interest payments of 6% each, then default on the loan come the first principle payment. You would have collected 3 months worth of mining on these things (the vast majority of the money these things will ever make), made two tiny interest payments, and then walk away leaving the bondholders with now near-worthless mining equipment.
I'm not suggesting that this is a scam, but the way you have the payment schedule written out it almost makes it look like you had that in mind.
I'm not suggesting that this is a scam, but the way you have the payment schedule written out it almost makes it look like you had that in mind.
Request dropped
(Gauging Interest) This is a secured collateral based bond, not a bitcointalk re-make like most bonds.
I have been offered by a long and trusted member of this forum some miners, the miners are built and ready to be turned on. The miners will be hosted by a trusted board member, and operated from his mine.
Why buy this bond/loan? What makes it worth your time?
Easy its secured, with a real return figures.
I am offering bonds secured by 1TH bitcoin miners, the miners will be held in trust until the bonds are paid off in full.
While the miners are in trust interest only payments will be made in the amount of 6% per month for the first three months. After the first 3 months principal payments will start, the payments will be the principal divided by 3 in addition to the 6% monthly interest.
Each bond will be active for 6 months, at the end of 6 months payment is due in full. If bond is not paid after 6 month with a seven day buffer, the miners are taken over by the trustee. The trustee distribute assets to the bond holder minus liquidation expenses.
All interest payments must be paid on activation date of the bond with a buffer +4 days.
If payments are not ment within 4 days the trustee takes control of miner for 10 more days collecting all revenue in a trust account. If payments are not caught up in the 10 day period the miners are liquiated. The revenue from the trust account and the sale of the miner minus fee's for liquidation paid to bond holder.
Each bond is equal to $2000 or its equal in BTC at time of purchase.
Terms and things to know.
Activation, is 30 days after the purchase of bond. 1st interest payment due date.
Trust, A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
Interest rate, The interest rate is set at 6% per month. Ex. 3.5BTC would yield a return of 1.26BTC return after 6 months. In dollars it would be $2000 Principal, and $720 in interest.
It pretty much says that, I am getting a loan for each miner at 6% you host the miners and if I do not pay you sell them off or give them to the bond holder minus what ever you charge them to do it.
All (B) class bonds are tied to BTC
All (D) class bonds are tied to $USD * Only 1 or 2 of these* I want to make sure I can cover them with my paycheck if the price goes wonky.
Feel free to ask questions
(Gauging Interest) This is a secured collateral based bond, not a bitcointalk re-make like most bonds.
I have been offered by a long and trusted member of this forum some miners, the miners are built and ready to be turned on. The miners will be hosted by a trusted board member, and operated from his mine.
Why buy this bond/loan? What makes it worth your time?
Easy its secured, with a real return figures.
Quote
Coins per 24h at these conditions 0.0428 BTC
We will be safe and say .035 * 7 = 0.245 per week
Comes to around 1BTC
Minus the interest payment of 6% would
equates to .78 per month x 6 = 4.68
minus principal we will call it 3.5
profit of BTC1.18 profit.
Break even by http://www.bitcoinx.com/profit/ is 3 months
We will be safe and say .035 * 7 = 0.245 per week
Comes to around 1BTC
Minus the interest payment of 6% would
equates to .78 per month x 6 = 4.68
minus principal we will call it 3.5
profit of BTC1.18 profit.
Break even by http://www.bitcoinx.com/profit/ is 3 months
I am offering bonds secured by 1TH bitcoin miners, the miners will be held in trust until the bonds are paid off in full.
While the miners are in trust interest only payments will be made in the amount of 6% per month for the first three months. After the first 3 months principal payments will start, the payments will be the principal divided by 3 in addition to the 6% monthly interest.
Each bond will be active for 6 months, at the end of 6 months payment is due in full. If bond is not paid after 6 month with a seven day buffer, the miners are taken over by the trustee. The trustee distribute assets to the bond holder minus liquidation expenses.
All interest payments must be paid on activation date of the bond with a buffer +4 days.
If payments are not ment within 4 days the trustee takes control of miner for 10 more days collecting all revenue in a trust account. If payments are not caught up in the 10 day period the miners are liquiated. The revenue from the trust account and the sale of the miner minus fee's for liquidation paid to bond holder.
Each bond is equal to $2000 or its equal in BTC at time of purchase.
Terms and things to know.
Activation, is 30 days after the purchase of bond. 1st interest payment due date.
Trust, A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
Interest rate, The interest rate is set at 6% per month. Ex. 3.5BTC would yield a return of 1.26BTC return after 6 months. In dollars it would be $2000 Principal, and $720 in interest.
It pretty much says that, I am getting a loan for each miner at 6% you host the miners and if I do not pay you sell them off or give them to the bond holder minus what ever you charge them to do it.
All (B) class bonds are tied to BTC
All (D) class bonds are tied to $USD * Only 1 or 2 of these* I want to make sure I can cover them with my paycheck if the price goes wonky.
Feel free to ask questions
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