Topic: Verified Bitcoin bound request starting at 8% interest per year (Read 211 times)

Based on facts, for Mt.Gox, it was always said payment should be in fiat which means auctioning on behalf of customers takes time. Whereas with Cryptopia payment should officially be in crypto. It took far less time than with Mt.Gox to launch the claim platform. But that s why on my side I will translate in more money being returned from the funds (I m intending to keep a part of the returned money for selling) in order to compensate any delay

With a typical 15 or 10 years auto loan, the lender don’t have access to the collateral, but a small fraction of it as cars lose value.  They don t have direct access to it as it needs to be sized.
No problem for credit history, I can prove I never borrowed in my life and for sizable collateral that I own a $50000 computer which I bought for my hpc Master thesis (but with access to Cryptopia account there s no reason this would be needed).  
I recognize those Tb of Ram are currently useless. I can provide remote access to half of them as part of the deal for the first months.

Mt. Gox sounded like a fantastic idea... until it wasn't.

How is it guaranteed that the Cryptopia liquidation process is any easier? Is it just based off what their customer support has been telling you, or are there actual legal documents outlining the process? Is this process even overseen by anyone?

Auto loan lenders have access to your credit history, have access to your car as collateral, and reside in the same jurisdiction as you. None of that applies in this instance, and you're saying that the lender bears all risk of default in case of Cryptopia reneging on their promises.

But Mt.Gox users had the option to access funds earlier through plateforms like Kraken. The case of Cryptopia is simpler since the plateform in the end was closed because of the drop on trading volume not because of repeated hacks on large funds or getting accounts sized. I don t remember about Mt.Gox being able to register for their funds in less than a year as it s case with Cryptopia.

For Mt.Gox, they are trying to pay everything in fiat so auctionning the Bitcoins through the legal system takes time. With Cryptopia, things should be paid back in crypto (and that s why I can t borrow in fiat because of volatility).

Hey! you compare the duration with the one of a typicall auto loan. Mine is shorter and lower.

Awaiting 2-3 year is very optimistic, mtgox courts continue to this day ..which has been seven years .

Cryptopia is in liquidation. It won t refund anything. Refunding will come from the New Zeland liquidation system. So providing a me a loan is a trusting Marine Le Pen won t be elected in my country and that the annonced 50% return would be honoured . New Zealand is not a shithole country. Definitely less risky than what may be a scam.
About when? Grant Thompson say some months. I rather think it would be 2 or 3 years. In all cases, remember longer is more money returned. Compounded!

I give access to the Cryptopia portal s account, the email account of the account and even the domain name account of the email account. No reversing possible!

First of all who will give guaranty that cryptopia will give refund of your fund? And also when you will get return of the fund? There is no ensurity of these fund. So, you cant take fund for that also if you give access of your cryptopia account that can be reversed and also anything can happen of these fund before recovering. So, better take loan if you have any other collateral.

Up to you. I'm merely giving you my honest advice that it's going to be an absolute waste of time for you to continue to ask around.

No, but force majeure is limited to loans. Just read the article url.
Disagree for schelling the claim. With screenshots, this looks like an honest loans, but selling fell in the money mule category.

Is this a mortgage?

I am simply asserting that based on my experience on the lending board there will be no one interested in this. You will have a much better chance (still close to zero, granted) of getting short term funding if you just tried to sell this claim instead.

You can see in my case the registration is completed. Unlike you, I’m no longer relying on support now and you can see how much time it took them to resend a simple url. It’s just they are understaffed to serve tickets. They released a report on June 10 about what they are doing.
Also, the yearly average rate on lending platform is lower than this in the case of cryptocurrencies like Bitcoin (2% on Poloniex) and it’s not compounded. Thus I’m indeed offering a far higher rate.

In the end don’t forget the official court appointment. Normally not a scam.

In the end, don’t forget the rule which happens to Bitcoin stored in wallet directly : no risk, no interest. I’m open to discuss a 10% interest.

So basically one has to bet that funds will be obtained from this liquidation process. I am pessimistic about this process as I also have 1.1 BTC locked up (since site went into liquidation in May (?) 2019), and have heard nothing since I registered my account in the claims portal back in Dec 2020. I will be pleasantly surprised if I ever get this money back, but am not going to place another bet down that people will get their money back (which is what a lender would be doing here).

Also, while I appreciate the fact that you are offering a realistic interest rate, it seems that it could be beaten by using margin funding platforms (Bitfinex/Poloniex) or other lending platforms that entail much less risk than this.

It’s Google news. Just search Laël Cellier or ytrezq.
and for http://archivenode.net just type in a console/terminal.
No it’s force majeure https://en.wikipedia.org/wiki/Force_majeure. In the same vein, virtually all mortgages in my country don’t have to be paid if the company hiring the person goes bankrupt.
No, because not only I give the account of the e‑mail address and Cryptopia but also the account of the domain name of the e‑mail.
Also, please notice Kaiyu Marquez is not Laël Cellier. I opened the account under a fake name and the account identity isn’t verified yet.

Also did you notice the timeline in the ticket ? They take 3 to 4 months even for handling the simplest request.

First of all, any way to prove this?


So basically, this not really a loan but instead an attempt to sell equity in your claim.

A loan is a contractrual obligation that you have to fill as a borrower, no if's and but's.


Same reason why domain names is not a valid collateral applies to this. There is a significant possibility that you can recover your claim with Cryptopia claiming that it is stolen.

Ask Cryptopia user’s on the reddit : Cryptopia Rescue is half a scam from someone trying to exists and had legal troubles with other stuff in the past (Just try to register on it and they start to seek large amount of funds from you).

About the delay : yes you’re right. That’s why I’m talking about Marine le Pen. But hence the only 8% compounded interest. 0.92₿ corresponds to 2.2 years of interest. After that period, I should have finished my studies and I would have access to a very high paying technical consultant job (according to statistics of those who finished the state degree I’m planning). But I recognise this can be frightening, and I’m open to borrow less so all the money will come from Cryptopia. I’m also open to return more (higher interest).

The basis is longer delays means higher pay… compounded ! That 8% per year can well translate into returning 40% more than the amount borrowed. A good plan for those considering investing in Bitcoin when returns are only in the median term.
In an ideal world yes. But I need the money this month to get an apprenticeship job covering more than the minimal wage. Not later.

The "some months" that you say can be 1-2 or more years, not to mention that "Cryptopia Limited" is in dispute and possible litigation with "Cryptopia Rescue" (https://twitter.com/CryptopiaRescue/status/1377592639155970050). That means in simple words that anyone who wants to fill this request of yours will have to wait for more than enough to get whatever you had there. I will not discuss the possibility (and concern) that you don't repay since it's an uncollateralized loan, not to mention that even if you give your credentials that doesn't mean that anyone can claim your funds.
If you succeed to pass their repayment process, I suggest you wait until you receive your money. Besides, you are lucky enough that you will get back something so IMO there is no need to pass the "waiting time" to someone other than yourself.

Background
In July 2018, I created a Cryptopia account using a temporary e‑mail address in order to sell my Everus holdings from an account using the same e‑mail on the defunct c-cex.com exchange, but because of the daily withdrawal limit, I lost access to the e‑mail address thus locking me from my account. So in July 2019, when the domain name of the e‑mail was auctioned of on expiry, I bought it and set up an ꜱᴍᴛᴘ server in order to receive e‑mail on it again (you can check the whois of hiolce.com for this). But Cryptopia had gone bankrupt by the time.

It is agreed Cryptopia account holders will receive 50% of their original holdings : https://www.cointribune.com/analyses/investissements/les-utilisateurs-de-cryptopia-pourraient-recuperer-50-de-leurs-pertes/ https://www.stuff.co.nz/business/120913953/cryptopia-account-holders-win-battle-over-assets-worth-140m
According to the faq, payment will be in crypto.
Proof of my holdings on the platform below :

So it means in some months from now I will receive about 12 Zcash and 1.1₿
But I need to pay my tuition now not later, and the Bitcoin price can always go down to the antipodes so I can’t take a fiat loan for this. On the other side, for people who still think Bitcoin price will go up, lending me 0.92₿ and possibly 10 Zcash can offer a nice additional return on investment.

In addition to this, my pseudo ytrezq along with my real identity Laël Cellier can be found in various articles through Google News. I’m also the owner of the http://archivenode.net service (you can check the whois).
Rules :

• No early returned fund request : money is loaned out until you can find public articles stating Cryptopia users are accessing their assets again. From there, I’ll return the borrowed amount+accrued interest of 1.00002183% per day (or 8% per year) starting from the date I would have received the funds.
• Force majeure : unlike many exchanges which disappear without final warnings, the money from Cryptopia seems to be in the right hands, however as demonstrated by the uninsured restaurants against the pandemic, nothing is impossible. So if you hear in the news Marine le Pen won the French presidential elections (someone who repeatedly promised to pass a decree criminalizing cryptocurrencies detention of all kind on day 1 of power) or that Cryptopia users will receive less than announced because of joint New Zeland war with China along with Australia or any other reason, I will only return a proportional fraction of the amount being borrowed.

Yes, this an uncollateralized loan but I agree to give full access to my account on the CryptoPia portal and the domain name of the e‑mail as a matter of trust which would even allow you to claim my holdings on my behalf. I’m open to any questions or concerns if you are still unconvinced.

So I’m somewhat requesting a variant of https://www.reddit.com/r/Bitcoin/comments/2rkn5x/how_do_you_price_a_usdbitcoin_forward_contract/cngsu65/. A shared risk through a straight https://en.wikipedia.org/wiki/Forward_contract is also possible.