Bitcoin Forum

I have a loan listed on BTCjam and am making the announcement here.

https://btcjam.com/listings/523

Any questions you have can be discussed here. It's a 22.2% annual yield investment.

I'll be able to settle my PayPal account with 70% funding and can answer any questions here. The loan is currently 23% funded and has 6 days left.

http://myworld.ebay.com/photodiode has a gpg_identity which is signed by my bitcoin-otc pgp key. That is my eBay account with a 135 score.


-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

site: ebay.com
user: photodiode
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.17 (MingW32)

iEYEARECAAYFAk+CTIYACgkQq4If6+hHSx0D4QCeLD+9ytTJFXftWTsTOwbalCW9
wF4An3jLGlyl7LvpvQAVAO+qhFAT+WpB
=x13n
-----END PGP SIGNATURE-----



*** PGP SIGNATURE VERIFICATION ***
*** Status:   Good Signature
*** Signer:   Joshua J. VanNoord <admin@photodiode.ws> (0xE8474B1D)
*** Signed:   4/8/2012 7:42:14 PM
*** Verified: 11/16/2012 7:06:11 PM
*** BEGIN PGP VERIFIED MESSAGE ***

site: ebay.com
user: photodiode

*** END PGP VERIFIED MESSAGE ***

You haven't mentioned why your PayPal account went negative and I'm a little bit unclear about your comments regarding user 559. Have you loaned funds to user 559?

This is also concerning.


It reads like if you get over 70% you're going to use the excess to make repayments on the loan - meaning you're going to repay lenders of the first 70% from funds placed with you by later lenders (which is a bit ponzi-ish).

You might want to clarify those points because the way it reads now it sounds pretty high risk (and debt consolidation loans tend to be high risk anyway without additional complicating factors).

I lent ~10 BTC to https://btcjam.com/users/559 and learned a lesson there . I owe PayPal currently $460 paid down from ~$1080. Also I didn't want to have the pattern of filing 1-5BTC loans on BTCjam to "earn a rep" and thought it would be better to have a loan with a real purpose and realistic repayment interest and timeframe. If this loan doesn't fund I'll be prepared to take an advice on how to do this better. Different amount / interest / timeframe . The amount of calls I get from PayPal is pretty annoying and usually results in a $50 payment to them every few weeks. I didn't really intend on the ponzi-like side effect of asking for 65 instead of 46 but did that because I don't need a loan for 70% of 46 BTC . I do intend on paying this loan off ahead of schedule either way. In my understanding the loan funds on the expiration date if it is 70% or more funded and is closed to new investors at that time leaving no room to use new investor funds to pay back existing investors. If it becomes 100% funded before the expiration it will be funded early. The total I have to repay in either case is ~122% of the total funded. Honestly, I'm counting on it not going to 100% because that will result in a more expensive loan interest-wise. I just didn't have a use for a loan that doesn't cover what I owe to PayPal.

I hope this makes things a bit more clear.

It does.  Thank you.

https://btcjam.com/listings/584 This listing sort of defeats the purpose of investing in mine at the moment. 55.5% return here and it doesn't look like they would risk getting a bad rating against the highest on BTCjam. We'll see what happens.. :) I'm thinking of restructuring my listing but maybe I should wait to see if it funds...

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

I have a loan listed on BTCjam and am making the announcement here.

https://btcjam.com/listings/523

Any questions you have can be discussed here. It's a 22.2% annual yield
investment.

I'll be able to settle my PayPal account with 70% funding and can answer
any questions here. The loan is currently 23% funded and has 6 days left.

-----BEGIN PGP SIGNATURE-----
Version: PGP Desktop 10.0.3 (Build 1)
Charset: utf-8

wj8DBQFQqKwwq4If6+hHSx0RAkDiAKD4TwKOKkA6Sxa0sU3LrhkLIhONfgCgsoNS
w/uVS+1qssC5Ky1UJzkh/D0=
=Lf7c
-----END PGP SIGNATURE-----

Thanks. I missed the bit about it being signed by bitcoin-otc public key, so it wasn't even necessary, sorry :)

:) Not a problem ..

35% funded with 4 days left. This is looking good .. :)

49% and 4 days left. !

4.80033 BTC left. ! Thank you everyone ! So close!

Loan is fully funded! I can't thank you all enough .. :)

http://j.mp/paypal460 <<== MtGox deposit to pay off PayPal .. Sold at $11.75480 ==>> $460.50016 (0.5% fee) 2012/11/21 13:39:24   ==>> Withdraw Status: preparing $460.50000 Withdraw to account 812-521-0405 (Dwolla)

Your trading volume for the past 30 days is 818.82163623 BTC. If it reaches 1,000.00000000 BTC, your nominal trading fee will be 0.46%.

I'll keep everyone posted on the progress..

You have initiated a withdraw in the amount of $460.25 to Bank of America (Joint) - XXX5927. Your deposit will clear on 11/29/2012 by 5PM CST.

So far so good .. :)