Topic: Small loan to get started (Read 686 times)

I would definitely be interested.  Just keep me posted.  If you have any questions regarding Scrypt mining as well, feel free to ask.  I run a few units around the house myself.   

Yeah my calculations were off a bit.  I didnt realize the 280x never went down in price.  Still at like $450 for a reasonable one.  Plus bitcoin is lower then it was last i saw aswell so I am not quite where I thought I was.

I would be interested in about a week or so when I do actually have about half (assuming prices stay about the same). I would probably need about 0.25 (will know more as I get closer) and would be willing to pay back about 0.3 in 30 days or less (assuming all goes well with shipping).  Thats about 20% I do want to make sure you are decently compensated as this is probably saving me a months work (ontop of the month to pay you back).

I dont have any collateral that i know of (figured id mention since it was asked).  theres really nothing I own at this time asside from a crappy $400 car (thats not worth the tires it sits on).  The only real items of worth I have are my pc parts which obviously have no way to put them up for collateral .  Would be willing though to find a way to atleast put the crappy car up or something if it was absolutely needed (my wife may kill me though since its our only piece of crap lol, shes paranoid about the coins cause I haven't shown her the money )

I also forgot to mention earlier I have my FX-8350 running at 280cpm on PTS getting around 0.17ish per day that I will gladly swap for btc to contribute to the loan (or give you pts+btc based on rate at the time if youd prefer).

So hopefully my calculations are closer to correct and maybe its a more plauseable possibility now lol.

Sadly the only thing I have to go by really is my month of work.  I do have about 0.2 right now (took just over a month) but I also had some help (from my Swedish friend b4 he got his 2x280x ) in the start and was only doing litecoins for awhile.  My calculations are based on that and I did a 48 hour test on middlecoin.  BTC was at $900 (was just a couple days ago).  My 7870 at almost exactly 400kh/s (not the best 7870 for a dang hawk with a gpu reactor it took overclocking to barely get it there) earned 0.0044 the first day then the next day 0.0042 i didn't continue because i felt like it was kinda rippin me off I usually do better solo timing my sales and moving from coin to coin.  But I did want to establish a decent baseline and test middlecoin.   So I did and using that calculation. Assuming the 280x does AT LEAST 500kh/s thats 0.0085 on a bad day on middlecoin (with both my bad 7870+ a really BAD 280x).  Even if btc goes up over $1000 I don't imagine getting less then that per day unless my 280x is the worst ever. But that totals at 0.255 in 30 days.  Assuming my PTS is even worth 15 bucks per pts by then (I think its $20 now) i should have 5ish putting me at 0.31ish total BTC in a month after selling PTS.  That's if you'd prefer me do middlecoin and pretty much worst case scenario hashrates, my real calculations are closer to 0.4BTC.  I would hope the 280x helps me do better then that even.  But it also wont be running for the first week or so which can make a big difference.

So its all give and take and of course prices can fluctuate.  May take a little over a month i suppose if somehow i got the worst 280x AND it took 2+ weeks to get here (i sure hope not ill probably try to signup for amazon prime for free trial with 2 day shipping if they got a good price lol).  But I assure you it would be paid in full + additional interest if time is exceeded.

We can do it any way you'd prefer aswell whether it be 100% monitored by you + me over middlecoin directly to your btc wallet (with PTS being added in later as we get close to the end via sold for btc or given directly).  Or I can do what i have been doing (multipool mostly).  To try to maximize profits/sales and try to pay you back sooner. Its of course possible it could take longer then middlecoin you never know what could happen some holds get dumped for less then i want, others get major profit but most days I do better then middlecoin though.  Can also pay you back every couple days or weekly or in large chunks or in one lump sum once i finally get it all.  whatever you'd prefer.  Once its BTC it all goes to coinbase to avoid any ssd failures on my end aswell.  I really don't mind either way though middlecoin makes my life easier and probably would be much less stressful for me since the money (BTC) wouldn't be mine .  Im no broker so its probably better to let middlecoin do it to assure consistant payment and so im not splitting hairs over prices lol. But whatever you think is best .

Sorry to write a wall o text.  Let me know though if you will be interested in about a week or so and I will PM you when I am there finally.

ill admit i have been a little hasty as I didnt expect much response until I had some time to figure out the numbers entirely but I figured it would still be faster then waiting either way .  I get off work in a couple hours and will have more time to collect data and get back to you. I apologize for the delay I will let you know soon .  Thanks for your honesty and replies

Okay.  Let me know the amount you are looking for and estimated time of return.  The 25% interest is high and I wouldn't charge that much.  You have accounted for LTC difficulty increases when taking into consideration your investment, correct?   

What do you have to offer as collateral and what is the amount you need?

i have a 990fxa-ud5 which supports multiple cards without issue.  I plan to hook up a second mining rig that currently needs ram and a hdd (and put back together i was parting it out before i started mining haha).  But I dont have that at the moment.  I do however have plenty of power and can use my main rig with both cards without issue.  

I dont have the prettiest of stuff but it certainly works decent enough and should accommodate the 280x without issue (even if the 7870 has to be retired to the other case and i have to get it running quicker).

I do not game anymore as I have been saving for the 280x (so i can game again eventually again haha).  I wont game though until the loan is fully repaid its already been a month i can handle some more time without it haha.

I have spent hours tinkering and learning how to setup mining.  Have learned pretty much everything there is to know about how to tweak cgminer I even made my own guide on oc.net.  I also helped a buddy who just bought his 2x280x over in sweden get his running up to par.  

I should have no trouble getting it going once it gets here.  As i said even if i have to rip out the 7870 I will to make sure at the very least the 280x is working.  and of course as mentioned the 7870 will be paying back as i am waiting for the 280x aswell.  I dont suspect that would happen though it should run no problem I have dual power supplies aswell just in case.  the main one is only 650 watt i wasnt sure if it could handle both gpu. so I have a 2nd one of the same wattage. All my parts a quality (Seasonic psu, gskill ram, noctua cooler).  I plan to buy a sapphire toxic or a MSI 280x gaming depending on what deals i can find to make sure i got a quality gpu aswell.

I am sure it will be up and running without issue for many years to come

Heading to lunch break (i work at my pc) i will be back in about an hour. Let me know if your interested .  Thanks a ton!

Post thought:
It sounds kinda jumbled but i have an open case in a room with minimal dust and no pets. The 2nd psu would be on the outside of the case if needed.  Will likely get the 2nd machine running thats an old dell xps 600 with plenty of potential asap but I just dont have the extra funds.  All I can convince my wife is to let me save coins which I should invest in that first but the sooner I get the 280x the faster I can get those things. Then finally start paying some bills and saving. Just hoping to get there quicker and maybe help someone else out with some extra funds in the future .

and yes i do work at my pc but its mostly on the voip phone selling reservations for enterprise .

thanks for the consideration either way.

May be able to help you out.  Just to ensure you are making the investment in regards to mining equipment, how do you intend to setup the 280x?  As in I presume your current computer with the 7870 is in a case and can't support the 280x additional as well, so I wanted to check on that prior to helping you out.   

Hello all,

         My name is David.  I have recently got into mining alt coins.  I am currently only using a 7870 to mine so its not very productive.  I would like to offer the opportunity for someone to make a few bucks off me.  If I can get a loan to cover the rest of the cost of a 280x (im about half way there actual total will be discussed when/if loan is placed ).  Then I would be willing to pay back an additional 25% of the loan in interest.  I would be willing to sign some sort of contract or something.  I am very new to this I have never taken a loan out on any coins so I am open to suggestions on how to go about it.  I was thinking of just setting up a middlecoin with whoevers wallet address for payback and paying back coins as i make them (so we can both easily monitor and you would get paid back as i collect).  payback speed would also be increased by the use of the 7870 with the 280x when it arrives.  Of course will have to wait for shipment but I will immedietly start payback with the 7870 until the 280x arrives (then it may also take me a day or so to figure out the proper settings and get it up and running).  I still suspect this to be repaid within less then a month for sure (likely much less just giving extra time in case something crazy happens).  

        Let me know if your at all interested.  I know I dont have alot of reputation on here but I do on OC.net (same username dmfree88) aswell as my account on ebay bfree1989 is 100% positive.  Whatever else I may need to show you I will.  I am simply looking to save some serious time.  my 7870 will take me about another month to get a 280x.  If I get one now I can pay someone back before I would have even been able to afford it myself.  

        Feel free to PM me or reply here with any questions.  Thanks for your time . All future proceeds go towards improving my sons future and getting him the things he needs.  Any help to get there is MUCH appreciated.

       


                             -DMFree