Starfish BCB - Loans and Deposits - page 33.

Daily Anarchist

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Quote from: PatrickHarnett on April 12, 2012, 04:04:23 PM

Quote from: Mitsuki3 on April 12, 2012, 07:12:02 AM

Hi Patrick! I would like to request a 1-day, 10 BTC loan, making the payback 10.07 BTC.
12QcUPyHNqdB4xJNiXBa6r9qVovMpfuZKP

BTW, I'll have a collection job in NE USA soon if someone would like to pick up my new watch.

What's this all about?

PatrickHarnett

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Quote from: Mitsuki3 on April 12, 2012, 07:12:02 AM

Hi Patrick! I would like to request a 1-day, 10 BTC loan, making the payback 10.07 BTC.
12QcUPyHNqdB4xJNiXBa6r9qVovMpfuZKP

Why would I risk ~$50 on a 0.07 coin return? You would be better to simply ask for 10BTC and acknowledge upfront if you intended to ever repay or not. At least Milkman39 had a decent story and sent me some nice documents/photos.

BTW, I'll have a collection job in NE USA soon if someone would like to pick up my new watch.

Mitsuki3

newbie

Activity: 42

Merit: 0

Hi Patrick! I would like to request a 1-day, 10 BTC loan, making the payback 10.07 BTC.
12QcUPyHNqdB4xJNiXBa6r9qVovMpfuZKP

PatrickHarnett

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Quote from: Btc4Domains on April 10, 2012, 11:27:32 PM

Hi Patrick,

200 BTC sent to 18G9P65ooRyikTEPq7wqSKS4u5zajKMaue
* 1.5% per week rate

Repayment address:
142DZ66NBHUn6FyBogQa6xjvPREi9HznzQ

Please confirm, Thanks!

Confirmed. Deposit start time is recorded as 10/04/2012 12:01:00 a.m. (currently based on UTC + 12)

Btc4Domains

vip

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Hi Patrick,

200 BTC sent to 18G9P65ooRyikTEPq7wqSKS4u5zajKMaue
* 1.5% per week rate

Repayment address:
142DZ66NBHUn6FyBogQa6xjvPREi9HznzQ

Please confirm, Thanks!

PatrickHarnett

hero member

Activity: 518

Merit: 500

Quote from: Philj on April 09, 2012, 05:26:05 PM

223BTC loss for march. That must sting a bit. You still working any recovery angles on those?

A few swear words, but it's ok. I've caused a bit of shit for one of the people concerned. But it's history now, and overall coin income is pretty good. The scale I'm dealing with, while not as big as some other people, is still pretty substantial. So I know there are some risks involved and potential to lose serious money on some of the loans I have out in the wild.

Also, and this isn't a secret, I have a separate portfolio of deposits/investments that sit outside of the Starfish BCB. It provides the coverage I need, for instance, to support the deposits that I take, and also helps balance out some of the loan losses.

Philj

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223BTC loss for march. That must sting a bit. You still working any recovery angles on those?

PatrickHarnett

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Activity: 518

Merit: 500

Updated OP for March activity.

Starfish BCB completed holiday in Japan and had a lot of fun, and also did quite a lot of lending (around 1000 coins) and deposit taking (around 2000 coins), including processing withdrawals (around 500 coins).

As advance warning, I may need to drop the interest paid on deposits in May to 1.25%/week, but trying to avoid that. Dependent on a project that should be clearer towards the end of the month.

PatrickHarnett

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Activity: 518

Merit: 500

200 BTC loan to Cobra on the terms we agreed several weeks ago. i.e. payments are set at 10% of the principal each week for 13 weeks. That isn't as bad as it might look, because in three months the principal is paid off fully. An interest only loan would cost more over the term.

Kluge

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Quote from: PatrickHarnett on April 01, 2012, 06:19:47 AM

BCB doesn't actually stand for anything, but if you want it to, that's ok. In my jurisdiction there are laws against using the word "bank" in company names, so I avoided writing that.

BDK & BCB aren't banks, son los bancos. Huge difference.

We don't offer demand deposit services, we offer services which aren't necessarily guaranteed to be paid when the depositor wants.

"BDK" & "BCB" don't offer loans or issue CDs (and by "CDs," I of course mean personal loans issued to us), we do.

Thanks to laws, consumers win.

PatrickHarnett

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BCB doesn't actually stand for anything, but if you want it to, that's ok. In my jurisdiction there are laws against using the word "bank" in company names, so I avoided writing that.

Maybe I should change to Bikini Bottom Bank? Patrick Star is holidaying in Kyoto currently - I have a picture of him next to the Shinkansen, but I'm sure he'll up to other tricks in the next week.

Red Emerald

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What does BCB stand for? Bitcoin Community Bank?

PatrickHarnett

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ok. The starfish is going on holiday and changing time-zone (not sure if 4 or five hours - but going to Northern hemisphere). I'll be less available on-line for the next two weeks, but will still be running the bank while I'm away from home base. Like I said, I have a life, and this break has been nine months since the last sojourn to Kyoto.

jarsumarsu

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Activity: 134

Merit: 100

Quote from: PatrickHarnett on March 22, 2012, 02:21:05 PM

*snip*
Edit: 9:00 a.m. UTC + 13 - coins received

Here in Finland the time is 10 pm, so good night Cheesy

jarsumarsu

donator

Activity: 134

Merit: 100

Quote from: PatrickHarnett on March 22, 2012, 02:21:05 PM

Jarsumarsu asked me to record the basic details here. He intends to deposit 300 coins for around two weeks (so I expect to receive the coins sometime today (23Mar) and repay around 7Apr depending on his requirements.

As for a normal deposit, 1.5% interest rate / week, compounding, on-call. It will commence 12:01 a.m. local on the day I receive funds and compound until the time it is repaid.

I will edit/confirm when coins are received.

300 BTC sent.

Repayment address is:

1AjKHMB7XdPhBXJ3JGqDg48aFeSrHGy872

Patrick, please confirm

PatrickHarnett

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Activity: 518

Merit: 500

Jarsumaru asked me to record the basic details here. He intends to deposit 300 coins for around two weeks (so I expect to receive the coins sometime today (23Mar) and repay around 7Apr depending on his requirements.

As for a normal deposit, 1.5% interest rate / week, compounding, on-call. It will commence 12:01 a.m. local on the day I receive funds and compound until the time it is repaid.

I will edit/confirm when coins are received.
Edit: 9:00 a.m. UTC + 13 - coins received

jarsumarsu

donator

Activity: 134

Merit: 100

I'm considering if I deposit some coins for a week, maybe for a one month or perhaps even longer time.
I'm talking about 500 BTC Roll Eyes

Is that possible and what would be the interest rate and or amount? For a week, for a month...?

BadBitcoin (James Sutton)

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Activity: 452

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just withdrew 203 btc from my deposit account with Patrick, no problems at all,
+10 rep for this man.

malavita

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Thanks for the disclosure statement.

PatrickHarnett

hero member

Activity: 518

Merit: 500

Quote from: der_meister on March 14, 2012, 09:20:16 AM

I sent 50 btc in deposit. Patrick, pls confirm Cool

Yes, 50 coins received this morning. Weekly interest payments will be paid to your notified address.

As some additional disclosure for those interested:
- Total deposits are currently around 900 coins. 1/3 are paying weekly interest and 2/3 compounding. Availability will be good until I get to a stage where deposits reach roughly half of the cash I've invested directly. At that stage I'll simply keep additional reserves on hand.
- It is public record I have an account with Pirate FS&T (opened 17Dec2011). Most of my deposits to that account were before I started lending in January and I am not directing deposits to that account as that is not my long term plan. I am comfortably over the 2000 coin mark there.
- I do some mining, but I'm not interested in buying extra stuff, mainly because at my house I run out of available circuits and the $20k of stuff I have is enough.
- And with the trading market largely static, other than a few arbitrage opportunities, I'm not doing much there (i.e. I don't speculate or "hope" for price movements)

Topic: Starfish BCB - Loans and Deposits - page 33. (Read 60537 times)