Bitcoin Forum

Hello,
I'm now testing few things using bitcoin, need $10 for test payments. I can provide google play wallet codes, steam wallet codes as a collateral. I'll repay within 24 hours $15.

No, that won't work. There is no way to make sure that any codes that are redeemable are in fact legit except for actually using them, which will destroy the point in the whole idea of being collateral.

Hello,

You should clearly stated the amount you want to borrow in BTC, it could be more clear for potential lenders.
I don't think these code could be considered as a good collateral but since you run a business here, maybe someone could lend you.

Mate, on Steam first code is verified, then it can be reedemed.
On Google Play same - first summary, then reedem.

It's so important for me, that I can even GIFT somebody here 30eur Steam code for $10 BTC loan. I'll repay, don't worry, I'm now taking care on my trust rating.

I want to borrow 0.041BTC.

I will lend you the .041 for .051 back (less than you were offering interest wise)

PM'ing you Steam Wallet code, BTC address:
18kT4yfgZvF7s6HnjGAyZeCXk3nNAr3qDk

Repaying 0.051 within next 24 hours.

https://blockchain.info/tx/2df9909dd06b3eb943154a908fc737fcca429426a746311340be770858bcbf7e

Repayment to: 146NQu5gWWsRoJs1TBcQCoCdRfSJnACTHW

No repayment was yet made. We discussed and agreed on little delay. Will repay 0.055 soon. Will update here. Thanks to Blazed for the trust, its rare here as i saw.

Any update on the repayment date?

It seems that paltoco didn't reconnect since he got the loan. :-\
I think you can liquidate the collateral since he default loan

Just because he didn't come online for 2 days doesn't mean that you should immediately liquidate the collateral. Blazed, did you guys discuss a vague idea of the delay time?

actually he stated "I'll repay within 24 hours $15."

Sorry, I was talking about when he updated the thread about how there was a delay in the repayment.

Quote:

Actually, if Blazed asked on the topic about an update of the repayment, it's possible that the delay have passed.

If I do not hear from him today I will drop some red on his account.

Why not sell your steam wallet code instead? It's worth more than your loan you are asking.

Does anyone know how to verify a steam code? I was given the code by the lender, but I have no idea if it is working or not.

Hey Blazed, sorry but a steam code isn't a valid collateral.  He most likely took it and used it himself after he defaulted on the loan.  You simply go here: https://store.steampowered.com/account/redeemwalletcode
log in, and enter the code.  You will get a confirmation screen after so it will not immediately use the code.

(If you don't want it, lemme know I might buy it :P)

It definitely isn't valid collateral, since the lender basically HAS to use it or else the one taking the loan will just use it themselves. Codes that can be used are easily redeemable and can't be used for great collateral

steam codes can be redeem at anytime of purchase you can always check if its still have the balance or it has been redeem by the lender.
Here is the link to check https://store.steampowered.com/account/redeemwalletcode (https://store.steampowered.com/account/redeemwalletcode)

The steam code can be validated when you put the code into steam. It will either:

Ask you to confirm, if it is a valid code

Say the code has been used before

This is quite new situation here i guess. I have nothing more to say than:

repaid 0.06

tx id:
https://blockchain.info/tx-index/3ef0cad22f15a19dc8f42cac86bc9fc857ad8f7cf61d9a0bd1ddc4e7a805717b

I won't ever read what you suspected. it was a lesson. Blazed helped me more than a lot. And I didn't forgot him. I missed all of you, but explanation i owe only to Blazed, please wait for my PM.

Better late than never... I suppose. I think saying that we're all surprised is an understatement.

OK, I owe the explanation to everybody interested in, but short version, i won't discuss bout this here, it's my loan thread.

I was busted for possesion of 0,7 bottle of cbd oil, it's a crime in my country, so I faced few days in jail, when they released me i needed to forget about all my virtual life. Said sorry in my mind of course to Blazed, and my reputation here and went offline mostly. I didn't wanted to get back here without coins ready to repay, but i was sure i'll get back, so i allowed some more days for my reputation to be ruined. Why I was so sure? I won't be a criminal once again. And I even won't risk 0.01% of my freedom anymore.

Possesing of THC, CBD is illegal here. For smuggling CBD oil you can be sentenced to (approx. ofc, the lowest sentence isnt defined in our law for this kind of crime) 2-3 years in prison suspended for 3-5 years - this is the best result without good lawyer - i don't have even 10 bucks now, wont even think about lawyer other than the one my state gave me. The worst result, if I met i.e. older prosecutor, or older judge with no knowledge about CBD products (lol, in my country 70% people think that marijuana is not to smoke, but to inject, [i mean as a recreational drug, not medicinal oil] - so, the risk is pretty pretty high) I can get jailed for drugs smuggling and you won't meet me here for next 10 years. Yea, it happened before in my country.

Well, this is nice that you paid me and I believeyou that something came up. The collateral you gave me was valid and I did sell it (I broke even on this loan). I will be removing my negative feedback from your account. I am not sure how to handle the coins you sent, though. I already got paid back so if you want half or all of them back let me know.

While he finally made repayment, at the very most a neutral would have been plenty, especially when he leaves Negatives for those that left him Negative Trust for defaulting.
As far as his "story", at least it wasn't the car wreck saga.

"1 red flag is ok, but gaining 3 red flags from 3 different parties for one defaulted loan?!?!?! What the fuck is going on here? False positive man, please delete your red flag from my account. "

False positive......he defaults and it's a false positive.  ::)

I meant to leave a neutral (fixing that). I believe him, though. Why would he pay me back otherwise?

Perhaps the account sold is worth more than the loan but worthless with Negatives?

KWH, I just don't want other parties wirte feedback if they weren't on any side of the deal.

For me the discussion is finished, about feedback - i don't care for such false opinions. Blazed has been paid back, and he's opinion counts the most for me.

You obviously do not know how trust works. Trust left does not have to be in any deal with or about you. It can be left as an opinion, out of spite (as in your left feedbacks) or simply because one does not trust you. Your left trust however is pure retaliatory.
What is false? You defaulted on your loan. It does not matter that you repaid 30+ days late, you were late and thus in default. You broke your agreement. Pretty simple concept.

i have a question to @KWH

since OP asked for a loan with a collateral and then he defaulted, IMO its not right to give a red feedback to his account as there is a collateral offered and is held by the lender (Blazed) and still the OP paidback the loan after Blazed sold the collateral used. i can understand the feedback if there was no collateral. its just my opinion tho

Let me answer with a question:
Did he default?
If yes, a Negative or Neutral is warranted to warn others of default tendencies. (I would normally put a Neutral as collateral was offered and accepted.)
If you offer a questionable collateral barely worth the asking loan and the loan is defaulted, would you not ask yourself if the loan was actually a sale of the collateral? Wouldn't this be a great way to offload unwanted/hard to sell collateral for BTC! (It's been done/tried before)
He did default for 30+ days then returned with repayment but the collateral was sold/redeemed. I left a Negative but changed to a Neutral once Blazed confirmed (And I saw it) the repayment/sold collateral. I believe my original left feedback was on or before 10-11-2015.

So you leave me a negative rating I will never see instead of sending me a message? Bad style man. Without mexxer-2 sending me a message I wouldnt even know about this.

Btw I left you the rating because you are listed here -> https://bitcointalk.org/index.php?topic=1207414.0