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Topic: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K (Read 1444 times)

Meni Rosenfeld
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[Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
February 11, 2013, 08:09:04 AM
#10
Quote from: Vandroiy on February 11, 2013, 07:36:16 AM
Loaning for up to $20k equivalent, we've already discussed specific terms.
Confirmed receiving a $20K loan from Vandroiy.

Quote from: Vandroiy on February 11, 2013, 07:36:16 AM
I wish all the best for the Israel Bitcoin boom! Smiley (Hopefully it's not turning into another speculation mania... but I guess that's not for exchanges to worry about.)
Most of the buying demand is definitely for investment purposes. There's a theory that the Israel boom is (partly) responsible for the BTC rate appreciation, but I don't really believe that.
Vandroiy
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Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
February 11, 2013, 07:36:16 AM
#9
Loaning for up to $20k equivalent, we've already discussed specific terms.

I wish all the best for the Israel Bitcoin boom! Smiley (Hopefully it's not turning into another speculation mania... but I guess that's not for exchanges to worry about.)
John (John K.)
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Away on an extended break
Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 28, 2013, 08:23:43 AM
#8
Quote from: Meni Rosenfeld on January 28, 2013, 08:22:47 AM
Quote from: John (John K.) on January 28, 2013, 08:16:52 AM
Please continue the banter about religion and interest in the other thread: https://bitcointalksearch.org/topic/wanted-mtusd-loan-1mo-btc-collateral-up-to-10k-138772
And keep this thread solely on the loan. Thanks.
You meant https://bitcointalksearch.org/topic/on-judaism-and-interest-wanted-mtusd-loan-1mo-btc-collateral-up-to-10k-139489.
Oops, yes. Edited.
Meni Rosenfeld
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Activity: 2058
Merit: 1054
Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 28, 2013, 08:22:47 AM
#7
Quote from: John (John K.) on January 28, 2013, 08:16:52 AM
Please continue the banter about religion and interest in the other thread: https://bitcointalksearch.org/topic/wanted-mtusd-loan-1mo-btc-collateral-up-to-10k-138772
And keep this thread solely on the loan. Thanks.
You meant https://bitcointalksearch.org/topic/on-judaism-and-interest-wanted-mtusd-loan-1mo-btc-collateral-up-to-10k-139489.
John (John K.)
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Away on an extended break
Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 28, 2013, 08:16:52 AM
#6
Please continue the banter about religion and interest in the other thread: https://bitcointalksearch.org/topic/on-judaism-and-interest-wanted-mtusd-loan-1mo-btc-collateral-up-to-10k-139489
And keep this thread solely on the loan. Thanks.
ripper234
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Ron Gross
Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 26, 2013, 05:35:13 PM
#5
http://judaism.stackexchange.com/questions/25838/are-you-allowed-to-borrow-money-from-another-jew-with-interest

Unfortunately the halaka forbids it.
dree12
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Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 25, 2013, 11:15:16 PM
#4
Quote from: Meni Rosenfeld on January 25, 2013, 04:23:14 AM
I can only offer interest if you are not Jewish.

Under Jewish law, you are not allowed to charge another Jew interest. But here, you are rendering interest upon another Jew. I don't see why this is forbidden.
Meni Rosenfeld
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Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 25, 2013, 08:48:38 AM
#3
Quote from: Justin00 on January 25, 2013, 08:47:05 AM
sorry for go off topic (kinda) but I'm curious why you can only offer interest to non jewish people ?

I'm jewish.. which is why i am wondering...
I try to follow the halakha where possible, and it forbids interest-bearing loans from one Jew to another.
Justin00
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★YoBit.Net★ 350+ Coins Exchange & Dice
Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 25, 2013, 08:47:05 AM
#2
sorry for go off topic (kinda) but I'm curious why you can only offer interest to non jewish people ?

I'm jewish.. which is why i am wondering...

Meni Rosenfeld
donator
Activity: 2058
Merit: 1054
Re: [Wanted] MTUSD loan, 1%/mo, BTC collateral, Up to $10K
January 25, 2013, 04:23:14 AM
#1
I would like a loan of up to $10,000 Mtgox USD. I am offering 1% interest per month.

I will provide an equivalent amount of BTC as collateral. (The exact amount can be slightly higher or lower depending on our respective reputabilities.)

If the BTC price changes we can negotiate an increase or decrease in collateral to keep it roughly equivalent.

I prefer at least $4,000 per individual lender to reduce overhead.

The loan term is for now indeterminate but we can agree on a minimum term if needed, and you can withdraw anytime with a 1 week prior notice.

I can only offer interest if you are not Jewish.

Since I am highly reputable and offering both collateral and good interest, I think it's a very good deal.

Background:

Bitcoin is still booming in Israel and despite my efforts I simply can't wire funds fast enough to handle all the load. Having a larger reserve would allow me to profit from the business while maintaining my desired BTC position.

Over the longer term I will seek more sustainable funding options but right now I need some reasonably fast way to increase my capacity, and can certainly afford 1% monthly for that.
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