Topic: want to borrow 200 LTC (Read 1324 times)

ShapeShifter has what appears to be very competitive rates for conversion, the catch would be if they run out of one or the other of two crypto-coins that are being traded...

Received.

I sent a group PM to OgNasty and jonald_fyookball asking the collateral to be returned to him.

Thanks for the quick repayment!

If he offer BTC as collateral, thats what he would get back once the loan is repaid. If he converted it, he would have to spend either more or less converting it back if he wants the same amount of BTC he had. Same goes with any other altcoin (that isnt dead)

Because I was speculating on a price decrease.

Not to meddle in this private transaction in a public forum.
Since the deal is done, I was wondering why not convert through shapeshift if you have btc collateral equal or greater than ltc?
Then convert back into BTC after 1, 2, 3 weeks.

Isn't it cheaper than interest and escrow?
Or does this put conversion risk on lender, therefore the interest is a hedge?

loan has been repaid

https://live.blockcypher.com/ltc/tx/26ac0c51e766d90924a023e1b1a440ceae664452b9e0142e4436ff141846e551/

It is posted in this GPG signed post that you quoted (the 3rd from the bottom line).

you can post your LTC repayment address here

Great. See you in a few weeks

received.

The loan has been funded via 53675725909630e271cbf265d834d2a600bae569a5b8b20b9edf2492ed8e4b2a

confirmed

I believe that OgNasty posted his escrow address upthread. I believe he normally charges 1% for his escrow services

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512

The following additional terms would apply:
Loan amount: 200 LTC
Collateral 2.44 BTC to be held by OgNasty
Interest rate: 7% if repaid within 1 week
Interest rate: 8% if repaid within 2 weeks
Interest rate: 10% if repaid within 3 weeks
*If the loan is not repaid by 3 weeks + 2 days, then the collateral will be converted into sufficient LTC to repay me, and the difference will be returned to you (or if the value of the collateral is below an amount sufficient to repay me, you will owe me the difference). The reference exchange rate will be the lowest offer on bitfinex on the LTC/BTC trading pair
*If OgNasty agrees, he can use the BTC held as collateral to purchase sufficient LTC on an exchange to be used to repay the loan, and the balance of the BTC held as collateral can be subsequently returned to you
*LTC repayment address is: LNjsR4FNBrkAmwYEwYRqk4QdRR63QyNC8g
*The loan will be funded once OgNasty confirms receipt of the BTC held in escrow
*The terms posted in this thread are the terms of the loan, and no other terms posted in this thread will apply.
-----BEGIN PGP SIGNATURE-----

iQIcBAEBCgAGBQJY8mESAAoJEApD4sx+J2dtThgQAIWGC0TkcQsL7MgNsSbT7CuW
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L+f4D4b4dPV9yZZGAC0lkacUFiYZEODmTmL43+amvDGzQ2W7GTDcIc/MHGm/5C0v
pO8CDjd+6RuRLv4D3anH
=ezHB
-----END PGP SIGNATURE-----

Sent

https://blockchain.info/tx/6870733b2f11cd00e9c0865bd0e83487467d91daa03717f59db6cce376dea31a
 
Return the Collateral (2.44 BTC) to:  1Dt5xAtMBxdvN3imYeS4pHBK3zT32CfLhe

thanks OgNasty!

Agreed. Collateral will be 2.44 BTC , escrow fee 0.02 BTC.

My Litecoin address:  LRk41CZBs4ffVeWQz8vTj3LFwB7SWysUM1

jonald_fyookball and I have come to an amended agreement so that the interest rate will be as follows:

7% for 1 week
8% for 2 week
10% for 3 week

looking to execute the deal so if you want to match QS or anyone else, we have OG escrow ready.

i'm ready to deal on the terms above, first come first served.

why PM, isnt it good to have public record?

Chevas, I accept the offer, can you confirm?
I know QS said 2.44, this is overkill... conversion
rate is less than 0.01, collat should be 2 BTC.
I can make 2.1 just to be on the same side.
Escrow fee should be 1% of the 2 BTC (0.02 BTC)
I so I will send 2.12 BTC

please confirm 

We should take this deal to PM.

Address I'll ask for collateral + 1% to be sent:
168WXhArv7Fasqvi2xm5MQMfLhG18jifMe

I'll also want to know the address I'll be returning the collateral to.

This is a more favorable term.

I suggest:

1. i send collat to OG
2. you send LTC to me
3. i repay LTC to you
4. OG returns collat