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.
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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

I don't want to over bid, but if QS has not provided the LTC, then i can provide you with 6% interest for 3 weeks.I will suggest Ognasty as a escrow for my deal.
let me know!
@QS if you want to deal then it is fine for me, i am not in competition

If you wish to use escrow, then I would suggest OgNasty (I would ask that you cover his escrow fee). Otherwise I would ask that you send the collateral first, and when the loan is repaid to repay the loan prior to receiving the collateral back.

edit: If you are comfortable sending first, then please post or PM me a LTC address to fund the loan to and a BTC address to return the collateral to

edit2: I am signing off for the night. Please see below for a GPG signed offer for loan terms. If everything is in order, then please fund the collateral address. The offer will expire if the collateral is not sent to the below specified address by the below specified due date. I will fund the loan in the morning provided that the BTC is sent to the collateral address.


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

This is quickseller from bitcointalk today is April 15, 2017

Borrower: jonald_fyookball (UID# 261027)
Lender: quickseller

Loan Amount: 200 LTC
Repayment amount: 214 LTC[1]
Due date April 21 2017 by 2359 Eastern Time (US)

Collateral: 2.44 BTC
BTC address lender will hold collateral in: 16diUsZz3Z9HMaP7xWGSubVbmHH1PXcVuq
BTC address collateral will be returned[2] to (less tx fee): [tbd]

LTC address to fund loan: [tbd]
LTC repayment address: LSjqeWBLJeRmYj3DcAxuqQChoJnDoBpkr5

[1] - If loan is repaid by April 22, 2017 (24 hours late), then repayment amount is 219 LTC. If the loan is not repaid by May 4 2017, then it will be converted into 221 LTC, and the balance will be returned to you (or if the value of the collateral is not sufficient to purchase 221 LTC, you will owe me the remaining amount to purchase the difference between that the collateral purchased and 221 LTC).

[2] - (see [1] and) The collateral can be exchanged into LTC upon your request via bitfinex that would be used to repay the loan (bitfinex trading fees would be covered by you).

Regards
QS

This offer will expire and will become invalid if 2.44 BTC is not send to the collateral address by 3 PM EST (US) April 15, 2017.
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=8T9X
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sounds ok but do we need a third party escrow or who will send first

7% for 1 week (I could go to 3 weeks, but would want a higher interest rate). Interest amount would be fixed at 214 LTC, regardless of when the loan is repaid, unless it is repaid 24 hours+ after the due date.

If loan is repaid within 8 days (24 hours late), then repayment amount is 219 LTC. If the loan is not repaid within 19 days, then it will be converted into 221 LTC, and the balance will be returned to you (or if the value of the collateral is not sufficient to purchase 221 LTC, you will owe me the remaining amount to purchase the difference between that the collateral purchased and 221 LTC).

Collateral will be 2.44 BTC. The collateral will not be automatically liquidated if it's value falls below any threshold. The collateral can be exchanged into LTC upon your request via bitfinex that would be used to repay the loan (bitfinex trading fees would be covered by you).

Collateral can be held in a wallet whose private keys I control, in my bitfinex account (for quicker conversion into LTC if you wish to trade the BTC for LTC to repay the loan), or by a mutually agreed upon escrow. I will assume counter-party risk if collateral is held in my bitfinex account, I will assume responsibility to maintain the security of the BTC in my wallet, and you will assume counter-party risk if collateral is held by a mutually agreed upon escrow.

Let me know if the above terms are acceptable to you, and if not, what modifications you would propose.

7%?

What interest rate are you offering?

I would like to borrow 200 LTC.  Collateral in bitcoin or ethereum.

Duration 1-3 weeks.  Serious offers only.