... I will now proceed to place a large bet on satoshi dice for A 91% chance of a 7% return on my initial investment. Let's hope it's less than 60,000 and I'll have an extra 17.5 BTC in the bag. In all honesty I know this is a negative sum game... However getting even .5% per week to me is still a more attractive option provided I have a good faith in where I'm putting my coins.
Topic: Requesting 2,000 BTC line of credit (Read 2398 times)
... I will now proceed to place a large bet on satoshi dice for A 91% chance of a 7% return on my initial investment. Let's hope it's less than 60,000 and I'll have an extra 17.5 BTC in the bag. In all honesty I know this is a negative sum game... However getting even .5% per week to me is still a more attractive option provided I have a good faith in where I'm putting my coins.
... I will now proceed to place a large bet on satoshi dice for A 91% chance of a 7% return on my initial investment. Let's hope it's less than 60,000 and I'll have an extra 17.5 BTC in the bag. In all honesty I know this is a negative sum game... However getting even .5% per week to me is still a more attractive option provided I have a good faith in where I'm putting my coins.wow, yet another new registrant speaking on things he does not understand.
Spend some time reading through the forums young one.....then perhaps you will not make your ignorance so obvious.
... I will now proceed to place a large bet on satoshi dice for A 91% chance of a 7% return on my initial investment. Let's hope it's less than 60,000 and I'll have an extra 17.5 BTC in the bag. In all honesty I know this is a negative sum game... However getting even .5% per week to me is still a more attractive option provided I have a good faith in where I'm putting my coins. Working capital for what exactly?
Hey yjacket......
Hardware acquisition would be part of it. Also having access to sizeable liquid BTC without having to convert fiat (given the time delays) is attractive. There is another reason, but we prefer to keep that closer to our chest as it is a profit opportunity we would like to keep to ourselves.
Hey back at you. Interesting, hows the mining game been? I got out and now i'm not mad, but it was premature. PM some of the details of the opportunity if you feel like discussing them. I've been sort of bored without multiple GHs to maintain.
Mining has actually been quite good the last few months. We bought dozens of single before they jumped in re-sale value, and with the increase in BTC price it has paid off nicely.
I will PM you this week if you are interested in entertaining the LOC.
Working capital for what exactly?
Hey yjacket......
Hardware acquisition would be part of it. Also having access to sizeable liquid BTC without having to convert fiat (given the time delays) is attractive. There is another reason, but we prefer to keep that closer to our chest as it is a profit opportunity we would like to keep to ourselves.
Hey back at you. Interesting, hows the mining game been? I got out and now i'm not mad, but it was premature. PM some of the details of the opportunity if you feel like discussing them. I've been sort of bored without multiple GHs to maintain.
Jsus H. Christ. I feel like i am taking crazy pills. The stupidity on this forum is spreading like the plague.
Was spreading. Its been quarantined and is dying off now.
Example: A borrower agreed to a $100,000 mortgage loan. The lender charged 1% for origination and a 1% discount, providing $98,000 of loan proceeds.
Obviously, I was referring to net proceeds or net profit, for the lender (not the borrower). Your idea of "proceeds" is a lender's loss.
(yes, a loan does come with proceeds up front)
A loan that comes with proceeds up front? So, like, they give you the loan *and* they give you the profits? OK, I'll take 10 of those.
Jsus H. Christ. I feel like i am taking crazy pills. The stupidity on this forum is spreading like the plague.
Example: A borrower agreed to a $100,000 mortgage loan. The lender charged 1% for origination and a 1% discount, providing $98,000 of loan proceeds.
Read more: http://www.answers.com/topic/loan-proceeds#ixzz24UNABZqG
(yes, a loan does come with proceeds up front)
A loan that comes with proceeds up front? So, like, they give you the loan *and* they give you the profits? OK, I'll take 10 of those.
I am a partner in an equity management company, and used the proceeds from the large BTC loan to acquire more ownership in my firm.
Large loans come with interest costs, not proceeds. To generate proceeds you'd need an actual business, not "opportunities". Like selling hardware (not buying it).
Everything is backwards in these subsections. People can hurt themselves when they try and do things opposite the logical order.
Are you even paying attention?
I used the proceeds from the loan (yes, a loan does come with proceeds up front), and acquired further ownership in the firm I already own a large stake in.
Nothing backwards at all about that......the presumptions you make are quite laughable though.
I am a partner in an equity management company, and used the proceeds from the large BTC loan to acquire more ownership in my firm.
Large loans come with interest costs, not proceeds. To generate proceeds you'd need an actual business, not "opportunities". Like selling hardware (not buying it).
Everything is backwards in these subsections. People can hurt themselves when they try and do things opposite the logical order.
4mos ago pirate was paying 7% per week, and bitcoinica was still operational.
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out
What business, I did some searching, only to find some card bought. ?
Hey UUidman,
I am a partner in an equity management company, and used the proceeds from the large BTC loan to acquire more ownership in my firm.
4mos ago pirate was paying 7% per week, and bitcoinica was still operational.
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out
What business, I did some searching, only to find some card bought. ?
Hey UUidman,
I am a partner in an equity management company, and used the proceeds from the large BTC loan to acquire more ownership in my firm.
4mos ago pirate was paying 7% per week, and bitcoinica was still operational.
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out
What business, I did some searching, only to find some card bought. ?
Working capital for what exactly?
Hey yjacket......
Hardware acquisition would be part of it. Also having access to sizeable liquid BTC without having to convert fiat (given the time delays) is attractive. There is another reason, but we prefer to keep that closer to our chest as it is a profit opportunity we would like to keep to ourselves.
11,000 BTC is an entirely different matter, and 4 months ago was 4 months ago.
4 months ago BCT was a different place than it is today.. Patrick for example has proven himself to be reliable and now is more of an attractive investment option than you would be from what I can see, or at least he is for a 2000btc deposit. I understand that you may not be using the full 2000 but I would be required to set aside 2000BTC none the less..
11,000 BTC cannot be as easily invested as 2000btc e.g I can make 1 BTC off a 10btc loan for 1 week but there is no way in hell I can make that % off of 10,000btc. 2000btc is the upper limit for what I can get a high rate of return for.
I just fail to see the logic in someone setting aside 2000btc for you at 10% per year when one can securely earn more than triple this amount... Convince me otherwise and I'll give you the line of credit, or simply put a shoe on my head and hold a sign saying I was wrong
4 months ago BCT was a different place than it is today.. Patrick for example has proven himself to be reliable and now is more of an attractive investment option than you would be from what I can see, or at least he is for a 2000btc deposit. I understand that you may not be using the full 2000 but I would be required to set aside 2000BTC none the less..
11,000 BTC cannot be as easily invested as 2000btc e.g I can make 1 BTC off a 10btc loan for 1 week but there is no way in hell I can make that % off of 10,000btc. 2000btc is the upper limit for what I can get a high rate of return for.
I just fail to see the logic in someone setting aside 2000btc for you at 10% per year when one can securely earn more than triple this amount... Convince me otherwise and I'll give you the line of credit, or simply put a shoe on my head and hold a sign saying I was wrong
Sorry man, I just saw on IRC that yochdog lost the fuck he was about to give.
Coffee, meet keyboard.
Fucking classic.
11,000 BTC is an entirely different matter, and 4 months ago was 4 months ago.
4 months ago BCT was a different place than it is today.. Patrick for example has proven himself to be reliable and now is more of an attractive investment option than you would be from what I can see, or at least he is for a 2000btc deposit. I understand that you may not be using the full 2000 but I would be required to set aside 2000BTC none the less..
11,000 BTC cannot be as easily invested as 2000btc e.g I can make 1 BTC off a 10btc loan for 1 week but there is no way in hell I can make that % off of 10,000btc. 2000btc is the upper limit for what I can get a high rate of return for.
I just fail to see the logic in someone setting aside 2000btc for you at 10% per year when one can securely earn more than triple this amount... Convince me otherwise and I'll give you the line of credit, or simply put a shoe on my head and hold a sign saying I was wrong
4 months ago BCT was a different place than it is today.. Patrick for example has proven himself to be reliable and now is more of an attractive investment option than you would be from what I can see, or at least he is for a 2000btc deposit. I understand that you may not be using the full 2000 but I would be required to set aside 2000BTC none the less..
11,000 BTC cannot be as easily invested as 2000btc e.g I can make 1 BTC off a 10btc loan for 1 week but there is no way in hell I can make that % off of 10,000btc. 2000btc is the upper limit for what I can get a high rate of return for.
I just fail to see the logic in someone setting aside 2000btc for you at 10% per year when one can securely earn more than triple this amount... Convince me otherwise and I'll give you the line of credit, or simply put a shoe on my head and hold a sign saying I was wrong
Sorry man, I just saw on IRC that yochdog lost the fuck he was about to give.
11,000 BTC is an entirely different matter, and 4 months ago was 4 months ago.
Christian you have 10 posts. How about you learn instead of telling veterans "how it is".
We recently closed an open ended 1,000 BTC LoC at ~20% APR and based on followup offers (more than 5K BTC more offered at that rate) we likely were too generous. In a few months we will consider refinancing it at a lower rate and give the current lenders first right of response.
Just because most loans are high risk/high rate "payday" loans doesn't mean more reasonable financing is impossible. As more lenders consider the return OF their capital instead of just the return ON the capital rates for qualified borrowers will likely keep declining. If one is bullish on Bitcoin a 10% return on BTC is more attractive than 10% return on USD.
Quote
I just fail to see the logic in someone setting aside 2000btc for you at 10% per year when one can securely earn more than triple this amount...
Nobody needs to convince you of anything. If you believe higher interest rates don't mean higher risk then you must not believe in free markets. If 1% per week was as risk free as you think. Patrick would have offers for hundreds of thousands of coins, more than he could deploy and as such he would lower rates to bring supply in line with his demand. Interest rates = markets expectation of risk. Note: Patrick is a solid lender and has a good track record but I doubt even he would call his offering "secure" or "low risk".
4mos ago pirate was paying 7% per week, and bitcoinica was still operational.
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out with the 10K btc loan, his ability to repay is beyond most, and therefore considerably lower risk for the lender, consequently, lower interest rates.
In general, interest rates should come down from 1% per day to 1% per week, to 1% per month fairly quickly without pirate on the scene. (though high risk, high yield ventures/hedge funds will always exist - they will just not be the norm as they seem to be now)
If I had 2K BTC looking for a low risk place to sit, this would be an excellent choice. (I'd be seeking 12% per year
)
A line of credit doesn't require that the funds be set aside, only available to the borrower on demand. A lender with large cash flow might have considerable BTC on hand at any given time, and allow draws on that.
IMO, interest rates will find a level of "normal" and these types of loans will be common.
Also, Since yochdog has a well established identity, trading history, successful loan history, mining operation, and the business he bought out with the 10K btc loan, his ability to repay is beyond most, and therefore considerably lower risk for the lender, consequently, lower interest rates.
In general, interest rates should come down from 1% per day to 1% per week, to 1% per month fairly quickly without pirate on the scene. (though high risk, high yield ventures/hedge funds will always exist - they will just not be the norm as they seem to be now)
If I had 2K BTC looking for a low risk place to sit, this would be an excellent choice. (I'd be seeking 12% per year
)
11,000 BTC is an entirely different matter, and 4 months ago was 4 months ago.
4 months ago BCT was a different place than it is today.. Patrick for example has proven himself to be reliable and now is more of an attractive investment option than you would be from what I can see, or at least he is for a 2000btc deposit. I understand that you may not be using the full 2000 but I would be required to set aside 2000BTC none the less..
11,000 BTC cannot be as easily invested as 2000btc e.g I can make 1 BTC off a 10btc loan for 1 week but there is no way in hell I can make that % off of 10,000btc. 2000btc is the upper limit for what I can get a high rate of return for.
I just fail to see the logic in someone setting aside 2000btc for you at 10% per year when one can securely earn more than triple this amount... Convince me otherwise and I'll give you the line of credit, or simply put a shoe on my head and hold a sign saying I was wrong
4 months ago BCT was a different place than it is today.. Patrick for example has proven himself to be reliable and now is more of an attractive investment option than you would be from what I can see, or at least he is for a 2000btc deposit. I understand that you may not be using the full 2000 but I would be required to set aside 2000BTC none the less..
11,000 BTC cannot be as easily invested as 2000btc e.g I can make 1 BTC off a 10btc loan for 1 week but there is no way in hell I can make that % off of 10,000btc. 2000btc is the upper limit for what I can get a high rate of return for.
I just fail to see the logic in someone setting aside 2000btc for you at 10% per year when one can securely earn more than triple this amount... Convince me otherwise and I'll give you the line of credit, or simply put a shoe on my head and hold a sign saying I was wrong
I dont know If you have already shopped around the forums yet to get an idea of what the average rate of interest is, but I can tell you right away there is no way in hell you will get 10% per year, especially when a person could simply deposit 2000 BTC with Patrick (one of the most trusted bitcoin loan and deposit services) and get 1% per week..,(67.77% per anum) and no he doesn't run a ponzi scheme. Check it yourself he is pretty transparent with how he does business. E.g gives loan at 2% and gives 1% to depositor so he keeps the 1%...I suggest doing your homework before you make yourself look like a fool. If youre looking for a USD loan the bank might be willing to give you 10% per anum. But on BCT you won't find that... My deepest apologies if you accidentally did a typo and meant 10% per month, in which case I might be willing to entertain your request provided I recieve adequate verification of identity, address etc... I'll only do the line of credit if you live in Canada, USA or Mexico.
EDIT: If you can collateralize the debt with gold, silver or any highly liquid asset that I retain possession of for the duration of the loan I may be willing to accept your offer, although this is delving into the territory of USD loans....
EDIT: If you can collateralize the debt with gold, silver or any highly liquid asset that I retain possession of for the duration of the loan I may be willing to accept your offer, although this is delving into the territory of USD loans....
I already secured an 11,000 BTC loan at 10% 4 months ago.
Search the lending sub-forum.
Perahps take the time to research the topic next time before making yourself look like a fool.
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