Topic: [WANT] 6000 USDC Secured Loan (Read 536 times)

Fear from the collateral being liquidated.  The lender isn't affected by my actions.
If the collateral falls to 110% of the value it gets sold. If there's a stop-loss for that amount there's no risk.
However, I am free to send more RSR in order to move the stop loss to a higher price in order to avoid my collateral getting liquidated.


This could work with an escrow.

However, since it's been some time since then I am currently reevaluating my options. Perhaps I come back.

Can you clarify this discrepancy?  What forces you to send more when you already have your loan?

I saw this a while back but refrained from posting, as you stopped posting and I thought you found another way to finance this loan. Since you have posted again, I might as well throw something in here.

I wouldn't mind doing this. Obviously my account is new, like yours, so I can see how you might be wary considering me at all but I can sign an address with over 8 BTC in it just so you could at least see that I'm not another troll. Escrow is fine but you'd have to pay it (escrows on this forum usually charge 1% - so you can visualize that being added to the monthly rate). Would want 5% a month, with 120% collateralization, and 110% stop-loss (which you seemed to be fine with in your previous posts).

I don't know how to set this up. But I am aware of the risk.


This is too much for me. It involves risk as well.

While the loan shark has no risk as he can't scam me since he doesn't require collateral. And he has the same rate. 10%.

I'm not, but there is no profit here.
A 3% per month loan on this amount is $180 a month. There are other lending opportunities here and other places that are 3x to 4x that.

1st line from the 1st post


There is a reason for that.
When people are putting out loans at 15% a month and will not even accept 5x the amount of your loan amount with that token as collateral for it really is just an unsecured loan.
So for me the risk / reward is not there. Not saying it does not work for someone else.

-Dave

But why be critical of this person taking out loans to gamble when there is another (ban evasion) user who is doing the same thing and you are facilitating their loans - why cherry pick who you are critical of when they are both lending to gamble?

Technically this loan *is* gambling. Since even with a 150% security having it go off at 110% Eternad can still take a hit if it blows through the sell level without support.
We have all seen it happen with these tokens / alts, all of a sudden there is 0 support / buys for anything close to where it was.

-Dave

The contract holding the collateral until the borrower receives funds is all you need.   If the borrower agrees with your plan, neither of you needs any more protection.

Thanks Vod for pointing this out. This is actually one of my concerns on this deal since there’s no way OP will trust me immediately with an amount over the loan amount.

But I doubt a smart contract will work here since the collateral needs to be put at stop-limit order in able to secure the amount of collateral to 110% price margin. If a smart contract can do this then I don’t have any problem using that given that it’s not complicated and can be verified easily.

OP - I suggest you set up a smart contract for this.  You sending $9000 to Eternad is risky, since he has little history and a lot of gambling posts.

Escrows on here charge expensive fees for what a smart contract does automatically, and often the escrow provides no additional protection at all.

Good luck! 

I can fulfill this loan but with 150% collateral of the loan amount. Also the collateral will automatically liquidated since I will setup a stop loss on a price which the amount will be 110% value. You can always top up your collateral to avoid liquidation but inform before doing it.

I can offer you 10% monthly interest for the loan. Just let me know through PM if you agree to my terms since I might not visit again this thread. Most importantly, I will need to secure the collateral before I provide you the loan amount.

I'm well aware of the libertarian aspect of the original Bitcointalk.
Ofcourse they don't. Because they want to avoid taxes.

But that means they don't use centralized exchanges.
Which eliminates them from this job.

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Either way, the lender can follow prices on his own and execute on a DEX if his intention is to stay anonymous.

You don't understand bitcointalk and it's users. Here people do not appreciate KYC but that does not mean they are scammer or have any malicious intend. You need to find a good lender who have good reputation and stable trading history. There are many members who provide escrow service too, you can escrow the funds if you do not feel safe with the lender.

https://etherscan.io/address/0x9CdcbAF129e8a4D07e5D2970f88e13FaE96b238C

You can see eUSDRSR which is staked RSR. However, before the loan I would unstake it so it would be RSR.

If Binance would delist it, it would inform the users in advance. However, why would it delist a $20 million daily volume token?
Even if such a scenario would play out, the lender is still perfectly safe since there's OKX, HTX, Kucoin, Gate, Curve, it's even on Crypto.com
Even if it somehow got delisted on all of them eventhough it has dozens of millions in daily volume consistantly, the lender would still know in advance and have time to respond.

If the lender is afraid of KYC, he's likely a high risk lender.

Good to know, I hope someone can check the balance. I don't know which explorer to use.

There is the risk for delisting too but the exchange will inform it at least a few weeks before they delist. When the tokens are taken in the exchange then there is a risk for KYC too. But I think for a good lender none of it will matter. You need to find a good one. Check this section and you will fine some lenders, try to PM them personally.

I don't make assumptions because most of you if not all are indiffirent.
I make assumptions because there are no other options.

What I meant with in this reply are things that are just flat-out wrong. What else can one assume with replies like these?


Flat out wrong. That's a 0 risk transaction. The users who wrote these comments didn't read or research the thread. How can it be otherwise?


Wrong. How can a stop loss on Binance with Ethereum or Bitcoin be different than one with RSR?


Just flat out wrong. User didn't do his research.



My problem,
Not the lenders problem.
That's kind of the point of lending  


If a fully collateralized Binance token doesn't fit these standards, what does? BTC,ETH? Those are on AAVE and Compound, why would anyone use Bitcointalk? They're the same. It's the same stop loss on the same Binance  

They didn't bother to read the thread. Is there any other explanation?

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Ofcourse. I just made an offer for the interest. It's not fixed. I wanted to see what the offers would be.

I was hoping to see a discussion on this. I was expecting replies concerning this.
The thread moved into a completely bogus territory.

I wanted to see what people would require in interest for such a deal. This is what I still want.


There wasn't a single reply about the interest rate. Which further proves what I outlined before ^.
You are the first one who actually said anything about the offer.

You make assumptions just because your offer leaves most of us (if not all), indifferent. That doesn't mean that the reason is your token. For me, it's the interest and of course the USDC. If somebody thinks or feels that your offer is high risk, fine. It's up to them to decide and express their thoughts and their opinion. We don't all have the same "risk meter", as we don't all have the same "value" meter.

Yes.

3 options here.

1. They're just bumping their signature campaign posts and didn't even bother to check the post or the comment.
2. They've instantly judged me for my newbie account as 99% of newbies asking for loans are scammers and didn't even bother to check or read.
3. They are braindead.

Binance listed, $20 million daily volume, $45,000 available collateral for a $6000 loan, risky lol

I don't know why some of the posters say this is high risk collateral. It's listed in every exchange there is and with a stop loss it can easily be liquidated in multiple exchanges at the same time, there's ~ 20 million volume in the last 24 hours. I took a loan once and offered STORJ as collateral, it currently has half that volume in the last 24 hrs. I don't see any risks here except for whatever OP is taking on.

How is it high risk?

You set a stop loss. There's literally no risk involved.

View my previous post ^