Topic: Risky 5BTC loan for 6BTC over extended period. Only if you have surplus.(closed) (Read 1147 times)

I lent bit coins off the forum a week or so ago. and to limit there risk they split it between 3 people. so each person lent me 1btc and got 1.4 back.

I was happy with that with being a new member its risk=reward. If I wanted to lend again I would ask for a lower rate now due to the fact now that people know I will return the funds. I asked to borrow over a few weeks but returned it within a week. Due to mtgox being reopened.

I lent because I knew I had the funds coming back via mining at the least and knew I could repay the amount.

(I used it to get a video card).

My will is theoretical, not practical at this point. I think right now the loan market is much too easy to abuse.
I just don't know people here enough to loan them. I would happily loan to someone trusted by the community (Gavin, Atlas), and have him re-loan this money to other people that he trusts, taking a commission in the process.

In short, I'm more looking for an investment, where my risk isn't tied to a specific person returning his loan, but is averaged out.

What kind of rate are you thinking about offering Ripper?

I am merely attempting to come as clean as possible, that is why I said that because to my (limited) knowledge I do not know how I could garuntee the loan with anything but my word right now as I do not yet have sufficient resources to put up in Bitcoin or monetary finance.

Could you give me suggestions as to what I could put up for my offer to be more secure and trustworthy in your opinion? Thanks

Good luck finding someone. I'm actually looking to lend BTC for an interest, but I'll want to have more security/trust in whoever I'm loaning to.

Hi all,

Am a beginner trader on mtgox and tradehill and I do not have the resources currently to purchase btc in any considerable form due to geographical and financial constraints. So on advice from a forum member, I am asking for people with a sufficient surplus of bitcoin to loan me 5btc for an extended period not exceeding two months. (yes it sounds ridiculously long but I want to give myself enough time to get the money back through trading or alternatively have enough time for my machine to mine that amount in case I cannot make it in trading.)

I will of course attempt to pay back as soon as possible, given market fluctuations, mining difficulty and sheer luck. As soon as I have made the 6btc back I will return the loan.

I make no guarantees that I can pay back unconditionally, I do recognize the possibility of me loosing it all trading and acts of god, but I have no intention if ruining my reputation.

Edit:

I know it is not much but I could grant the loanee access to my mtgox and deepbit accounts so that they can keep track of my progress and even give tihem permission to initiate the payment themselves (if you are that paranoid lol) as soon as I have made enough to repay the loan at which time I will change my login credentials to revoke access.

The loanee can also set terms which fit within my request or ask for me to make a compromise.

Edit deux:

The above is of course provided that one person loans the whole 5btc, I'm not about to give ten peeps my login details.