Comparing to other loans: I can buy a house for just 5-20% deposit.
And the value of the home, so you're putting down a 105-120% deposit. If you default, the house is no longer yours.
Topic: Want to lend 5-10 bitcoins willing to pay interest (Read 699 times)
And the value of the home, so you're putting down a 105-120% deposit. If you default, the house is no longer yours.
I am willing to put down 30% collateral for the bitcoin's current value.
The contract will guarantee the repayment of the same amount of bitcoins on completion, so you get back whatever you borrowed. If bitcoin goes up, you made that increase anyway.
Interest payments will be made monthly until expiry of contract in money/bitcoins.
I can demonstrate my ability to repay and willing to sign a contract to that effect.
Comparing to other loans: I can buy a house for just 5-20% deposit.
The contract will guarantee the repayment of the same amount of bitcoins on completion, so you get back whatever you borrowed. If bitcoin goes up, you made that increase anyway.
Interest payments will be made monthly until expiry of contract in money/bitcoins.
I can demonstrate my ability to repay and willing to sign a contract to that effect.
Comparing to other loans: I can buy a house for just 5-20% deposit.
Buying a house is completely different from securing a loan here, the bank will have a first legal charge on the property, that in combination with the deposit you've placed and your assured repayment plan puts them in a favorable position.
You absolutely will not get a loan here for 30% collateral, if you haven't noticed, people hodl here.
I am willing to put down 30% collateral for the bitcoin's current value.
The contract will guarantee the repayment of the same amount of bitcoins on completion, so you get back whatever you borrowed. If bitcoin goes up, you made that increase anyway.
Interest payments will be made monthly until expiry of contract in money/bitcoins.
I can demonstrate my ability to repay and willing to sign a contract to that effect.
Comparing to other loans: I can buy a house for just 5-20% deposit.
The contract will guarantee the repayment of the same amount of bitcoins on completion, so you get back whatever you borrowed. If bitcoin goes up, you made that increase anyway.
Interest payments will be made monthly until expiry of contract in money/bitcoins.
I can demonstrate my ability to repay and willing to sign a contract to that effect.
Comparing to other loans: I can buy a house for just 5-20% deposit.
Go to a bank and tell them that. Let's see if they give you a loan. No bank accepts collateral less than your loan. What guarantees them of the 70%? Your words and promises means nothing anywhere, put up your collateral or forget about it. Your "ability to repay" may be desirable, but there is still no guarantee of payback.
I am willing to put down 30% collateral for the bitcoin's current value.
The contract will guarantee the repayment of the same amount of bitcoins on completion, so you get back whatever you borrowed. If bitcoin goes up, you made that increase anyway.
Interest payments will be made monthly until expiry of contract in money/bitcoins.
I can demonstrate my ability to repay and willing to sign a contract to that effect.
Comparing to other loans: I can buy a house for just 5-20% deposit.
The contract will guarantee the repayment of the same amount of bitcoins on completion, so you get back whatever you borrowed. If bitcoin goes up, you made that increase anyway.
Interest payments will be made monthly until expiry of contract in money/bitcoins.
I can demonstrate my ability to repay and willing to sign a contract to that effect.
Comparing to other loans: I can buy a house for just 5-20% deposit.
The collateral cannot be near the current value of the bitcoins, because I can simply go and buy the bitcoins myself and pay no interest.
Obviously you don't understand how loan economics work, no individual, no bank, no institution is going to give you a loan unless you can demonstrably prove that you have the collateral to repay it, if you fail to repay it your collateral becomes the property of the lending party.
If you had an asset that you knew would double in value within the loan term, you would clearly want collateral that covers the final loss amount should you default on the loan (which is highly likely given the failure rate on this forum).
The collateral cannot be near the current value of the bitcoins, because I can simply go and buy the bitcoins myself and pay no interest.
If you are able to do that, then I suggest you do.
The collateral cannot be near the current value of the bitcoins, because I can simply go and buy the bitcoins myself and pay no interest.
Hi, I want to loan 5-10 bitcoins for 1-2 years at a negotiable interest rate. Based in the UK, can provide collateral, happy to sign a contract, etc.
Please list the exact collateral you are able to provide, I may be able to fulfill some/all of this loan request depending on this.
Generally you'll need to provide 120% of the end loan amount in collateral, possibly more for such a long term, due to likelihood that bitcoin will double by the end of that period.
Whatever Collateral you list and offer, it can never be enough for that kind of time period.
Because nothing can cover the rise of BTC, it's inevitable. You can't control inevitable, you can't cover it, you can't manipulate it. You can though embrace it...
Some months ago i posted elsewhere that BTC will get 5k€ (not $) price before 2018 and here it is. I was lucky with my prediction? Probably.
That's why i will make another one here, just for the record. The 10BTC that Op will get (hypothetically) now for 50k, in two years will cost 200k. At least and not last.
No likelihood, no guessing. Pure and clean numbers.
There you go, i said it!
Hi, I want to loan 5-10 bitcoins for 1-2 years at a negotiable interest rate. Based in the UK, can provide collateral, happy to sign a contract, etc.
Please list the exact collateral you are able to provide, I may be able to fulfill some/all of this loan request depending on this.
Generally you'll need to provide 120% of the end loan amount in collateral, possibly more for such a long term, due to likelihood that bitcoin will double by the end of that period.
Hi, I want to loan 5-10 bitcoins for 1-2 years at a negotiable interest rate. Based in the UK, can provide collateral, happy to sign a contract, etc.
Written contracts are unfortunately of little value here. The collateral is the contract. So if you have an acceptable one and enough to cover the loan value plus interest, then you might stand a chance of actually getting a loan.
As for the 1 to 2 years, this will of course affect the value of the collateral you need. I guess it would be principal plus the total interest.
Passports, ID, contracts and IOU messages will not work. You need liquidable digital or tangible assets which should be transferable to the lender in their totality. Recoverable online assets such as domains might not work if they can be re-accessed or reset in your favor after the initial transfer.
I recommend offering stable listed altcoins.
Edit.. just read your response above. Yes, those are nice collateral but they need to be appraised and assayed first to the satisfaction of the lender. And they also need to be physically transferred to either the lender or an acceptable escrow.
I have physical gold and silver bullion. Can negotiate how that will work in practice.
can provide collateral,
What collateral are you offering?
Hi, I want to loan 5-10 bitcoins for 1-2 years at a negotiable interest rate. Based in the UK, can provide collateral, happy to sign a contract, etc.
Jump to: