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Topic: Scrypt-hashing-backed BTC loans (Read 719 times)

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Activity: 1218
Merit: 1015
December 22, 2013, 05:36:32 PM
#1
Terms:
*No fixed interest, 50KH/s hashing power at pool of my choice per .1BTC loaned for the duration of the loan.
*Hashpower is determined by pool's record after one hour of hashing. Hardware errors, therefor, are not counted into total hashpower. (rejects are)
*You are not liable for any faults of the pool (pool op running away with funds, pool downtime). You are liable for any local issues (power outages, Internet outage, failed mining card, etc).
*Loan is not made until after one hour of hashing pointed at pool I specify. The proceeds of that hour of hashing will be credited toward principal owed. (if you take out a 1BTC loan and mine .0004BTC in that hour's time, you'd only be expected to pay .9996BTC). Should you decide not to go through with the loan, I'll pocket whatever was mined in that time.


*You must be trusted by at least two forum-trusted members going by defaultlist.
*Minimum number of posts on account applying for = 250.
*Minimum loan duration = 24 hours
*Maximum loan duration = 30 days
*Early repay is okay (so long as at least 24 hours have gone by since loan was issued), extensions are possible.
*Minimum loan amount: .5BTC
*Maximum loan amount: 1BTC

I don't deal in altcoins or non-Scrypt mining. (almost a paradox, eh? Grin ) I believe I was pretty conservative in estimates... I'll try to be reasonable and return "excess profits" to you should the situation arise, but I won't guarantee anything. Basically, should there be a situation where I'm effectively charging in excess of 15% monthly (7.5% if you far exceed trust minimums), I'll return anything over that upon return of principal. PM if interested.
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