Bitcoin Forum

Loan Amount
The loan amount is 35.00 BTC (thirty-five Bitcoins and zero "Satoshis"), with an interest rate of 15.0% APR (fifteen percent annually).

Verification
The debtor agrees to provide scans of a government issued ID via email.

Payment Address
15UofD4XkznG2WLCXLBpvB6sC4Bi6uusrZ

Repayment Address
1FLE1sJRVdnZ2FweicXdq2ZNqP8fPvNfpD

Scheduled Dates
Scheduled dates are set as every 30 days after the loan amount has been sent, 12 times per year.

Payments
For the duration of the loan, debtor is obligated to make a monthly payment within 48 hours of each scheduled date of 3.35416 BTC to the specified repayment address of the creditor. This is applied as 12x monthly payments of 3.35416 for a duration not exceeding one year. Upon the final payment (or in the event of early repayment) debtor's obligation shall be considered fulfilled and this contract shall be terminated.

Early Repayment
In the event of early repayment (to terminate the loan in full) borrower shall pay an amount of the total remaining unpaid debt liability multiplied by 1.02.

Calculated as [T * 1.02], where T equals total unpaid debt liability.

Late Payments
Payments must be made within 48 hours of each scheduled date. If debtor fails to make payment within 48 hours of a monthly scheduled date the interest rate shall be temporarily increased 30.0% APR (thirty percent annual percent rate) until the delinquent payment is satisfied. Once the monthly payment is completed the interest rate shall immediately return to the original interest rate of 15% APR (fifteen percent annually).

This shall be applied as adding 0.01458 BTC to the repayment amount for each day of delinquency until the payment is satisfied.

BTCINVEST
Funds will be provided by BTCINVEST. TradeFortress agrees to provide an advance of the interest of this loan as per normal dividend schedules. TradeFortress agrees to cover the principal of this loan if the borrower defaults, keeping the NAV of each bond at 0.1 BTC.

Change of Terms or Refinance
The terms of this loan contract may be changed at any time only if both parties (creditor and debtor) agree to all changes, in writing.

Agreed and signed.

Payment sent.
https://blockchain.info/tx/9a4001e080e52fa22f12f79bfe4b625de1ac0b86215076bd3c2e395665913180

I hereby acknowledge the payment of BTC35.00 (thirty-five Bitcoins) as received.

To BTCINVEST holders,

I have deemed this loan to be low risk because the borrower has significant reputation on other websites (gamedev, http://www.gamedev.net/user/174227-atc/), shown ID & proof of assets, had performed a few high valued trades on here and came off as someone who isn't a scammer in our conversations. I take a lot of behavior in account when I look for low risk loans, and I will be covering this 100% in case of a default.

In addition, I'll be paying the interest as dividends in advance so it matches up with the dividend schedule :)

love it. :)

Fully agreed. Sending you a PM.

Hey dude, you do realize that most of the replies to lending threads you're making are to ones that have already been funded? (for example, this one)

Didn't saw the 2nd post. Anyways.

Transaction for BTC35.00 is fully confirmed/complete.

Thank you, TradeFortress, for taking so much of your time to review everything and for making it a rather painless process! :)

Note to prospective debtors looking for a loan -- I'll give you a little review of my experience:

I'd highly recommend TradeFortress and the BTCINVEST group if you need a loan and have the capacity to repay it. Extremely friendly and professional, and seems to have a lot of knowledge of Bitcoin in general. The terms are very reasonable and he is willing to work with you to make an agreement you both will appreciate. He spent hours of his time talking to me, explaining how it all worked and working with me to come up with mutually beneficial terms and conditions. He wrote up the contract the way he wanted it and then allowed me to make some basic edits to remove some ambiguity and make the terms a bit clearer. TF is definitely not afraid to do his homework and put in the maximum effort.

I initially approached TradeFortress out of curiosity about the whole concept of Bitcoin loans because I saw value in the idea from both angles; from the standpoint of securing a little extra funding and the potential profitability of being a lender. I asked for a quote on what I could potentially get a loan for to apply to buying more gold and silver to boost our inventories/revenues a bit. And I was offered BTC35.00 BTC at a 30% APR (because I'm new in Bitcoin and TF knew nothing about me, of course). I had to turn down that offer because it just wouldn't have been worth it at 30% (the cost is much higher than a dollar-denominated loan due to appreciation of the BTC against the USD), and I wasn't really "hurting" for a loan anyway. So we just dropped the subject entirely and started talking about software, game and web development and business. But TF put in the effort to look into me personally outside of the Bitcoin world and get to know me. He then decided to make a new (totally unsolicited) offer for BTC35.00 @ 15% APR for a duration of one year... essentially making me an offer I couldn't refuse. I knew I could immediately use it to buy an extra silver or a little "basket" of assorted gold coins and increase our volume -- all at a rather low cost -- and still maintain a good margin. After all the money I've spent on our startup costs it was a quite appealing offer, so I deemed it to be a worthwhile deal with relatively low risks/liability. If anything, I can use the opportunity to start developing a little "credit history" in the Bitconomy.  :)

So I'm quite pleased with all of this and I'd definitely recommend BTCINVEST (and TradeFortress, personally) to anyone looking for a little extra cash to boost their business or start-up project. I wish everyone in the BTCINVEST group much success in this lending venture and perhaps someday I will hop aboard myself.  :D

Thanks,

--ATC--

Are you serious? Did you read the title?  ::) ::)

He's probably pumping posts to do his own lending thread. ::)

I believe my first payment is due tomorrow? I can just go ahead and pay tonight, if that's cool with you, TradeFortress.

Regards,

--ATC--

I hope this goes well for both. Would be nice to see a decent amount of loan be returned as planed for a change.

TradeFortress will do just fine... I, on the other hand, got taken to the woodshed! Just my luck to borrow 35 btc right before the price skyrockets to over $25.00/BTC LOL! A loan of 35.00 BTC is essentially a net-short position against the BTC/USD rate, so that's a net-loss to my portfolio heheh.  :P

--ATC--

Luck of the draw ;)

Yes, please pay the agreed amount of BTC to 1FLE1sJRVdnZ2FweicXdq2ZNqP8fPvNfpD (the repayment address :)

It's only a loss if you look at the USD value

Definitely a loss -- I sold the BTC for USD for more working capital for our bullion trading, and ended up having to buy the BTC back at the new super-high prices!  :D haha

--ATC--

When the prices drops (if it does) then you'll be the one on top.

Screenshot of payment form:

http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://img266.imageshack.us/img266/3889/payment01.jpg

This is scheduled payment #01 in the amount of BTC3.35416 BTC from ATC777 to TradeFortress / BTCInvest...

Payment status: COMPLETE

You can confirm by checking the .info for the tx here (https://blockchain.info/address/1FLE1sJRVdnZ2FweicXdq2ZNqP8fPvNfpD)...

Regards,

--ATC--

Paid 3.24 BTC for payment #2. I realized after getting the coin it was 3.35xxxx and not 3.25. I will get more coin tomorrow to make up the difference.

https://blockchain.info/tx/0200ac258f9782dac75ab73efc7408b1dd6ef1acb0896e766a1dd6fc5628e256

http://blockchain.info/address/1FLE1sJRVdnZ2FweicXdq2ZNqP8fPvNfpD

My apologies on this being slightly late and my recent unavailability on the forums and OTC. Been dealing with some awful dental problems and was just injured in a car accident, to add insult to injury (or vice-versa lol). It simply slipped my mind that it was "that time of the month" again.

Regards and hope to see you tomorrow,

--ATC--

Another car accident when a loan is due.......... ::)
Sorry for the skepticism but this is following a well known pattern.

I had to upload this from my phone, just for you... Care to see the accident report and accompanying documents too? :-/

http://img837.imageshack.us/img837/8864/carcrash.jpg

Wouldn't hurt.
My wreck is better.  ;D

http://i1109.photobucket.com/albums/h428/keithh409/20080807MercedesCrash_zps81db0475.jpg

Except mine shows my actual car, whereas "yours" isn't actually yours?  :-[

If you're going to imply that this is a fake prepare to be sorely disappointed... besides, I already made my payment this month (a whopping 2-3 days late on a whopping 3 BTC?)...

I guess you're joking with me, but I feel really bad...just not in a joking mood.  :'(

You showed pictures, I showed pictures. I can claim it was mine, that was me or whatever, can't you?
Not joking about the many past due loans were cited for wrecks, hit by cars, bus, train, plane. That was my point.

Ah, I see... that must've just been a fake picture, right?  ::)

I limped out to my balcony and took a brand new pic for you, of my destroyed C Klasse parked by the fence:

http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://img845.imageshack.us/img845/1043/carcrash02.jpg

It's currently sitting there as I fight a battle with the insurance company... the other driver ran a stop sign (I had right-of-way) thus causing the accident, but his insurer is determined not to pay for my property damages and injuries. I don't think this is a bit funny, and I don't appreciate this one bit. And you're not going to sit here and call me a liar.

The payment was made and I DON'T think it's any of your business. It concerns me and TradeFortress who is satisfied and has received payment.

So what now? Do I need to hurt myself more walking out there to my parking lot to take a pic in front of the car with a shoe on my head? The same car that has been in my avatar pic since day 1?  ::)

All I was doing is pointing out this same conversation that's been made many times to default, you over reacted. I can Photoshop the same stuff you just posted easily enough. Photos are easily made and faked.
You post in an open forum, public to anyone reading so you made it my business. PM if you don't want it made public.
BTW, I can call you anything I want to, tough guy with a limp.  ;D

Neither is this.

http://regex.info/exif.cgi?imgurl=http%3A%2F%2Fanonymouse.org%2Fcgi-bin%2Fanon-www.cgi%2Fhttp%3A%2F%2Fanonymouse.org%2Fcgi-bin%2Fanon-www.cgi%2Fhttp%3A%2F%2Fanonymouse.org%2Fcgi-bin%2Fanon-www.cgi%2Fhttp%3A%2F%2Fimg837.imageshack.us%2Fimg837%2F8864%2Fcarcrash.jpg

Good to know.

Hey KWH, give him a break - car accidents are frequently used as a excuse but there's many instances where they are true. And there not much reason to be skeptical if the payments were made..

I agree, it was dubious to me and I said something. My apologies to ATC777 .

Thanks guys. Perhaps I did over-react but I'm not quite feeling myself right now...

To begin with, I've been struggling with some extremely painful dental problems for a couple of months and it has become absolutely excruciating during the last 2-3 weeks (almost too painful to eat anything, let alone speak)... and since I was about 15-years-old I've been living with a debilitating spine condition... so imagine how it feels to get into an accident, through no fault of your own, injuries + pre-existing pain and my Mercedes (probably my dearest possession) destroyed... then the insurance company starts BS'ing you around, you have no ride to go anywhere (much less get timely medical treatment you need), have to take powerful pain meds just to be semi-functional, can't sleep... So yes, it's easy for me to over-react right now.

And despite all of this going on I still have responsibilities hanging over my head. How do I get my mother to/from work each day (she depends on me)? How do I make rent and pay my bills? How do I get food to eat when I physically cannot walk to the store anymore and have no drivable vehicle? Ah, and what if mom's biopsy results come back saying she has breast cancer, and she needs cancer treatment (we're waiting on those results now)? The list goes on and on... Hopefully it's not hard to understand how one could forget about a couple of bitcoins for a day or two. :(

I'd also like to point something out which I just realized... The loan contract says:


Last month (February) has only 28 days. So 30 days from the last payment would fall on 3/14/2013. I made my payment last night (3/15/2013). Thus it was actually just a day off...  :)

I understand that the "Bitcoin paranoia" is (to some extent) somewhat justified... lots of people have been burned by scammers and delinquent/disappearing debtors. But I haven't gone anywhere. Still here, made my payment. Sorry it was a day off, but hopefully no one finds that unreasonable with my present set of circumstances... As it stands right now I'm unable to work or generate any income outside of Bitcoin, so I felt it was necessary to stand my ground on this.

But no hard feelings, KWH... Thanks for understanding.

Regards,

--ATC--

None here, hope insurance comes through for you.  :)

@ TradeFortress ::

Please be advised my payment was ~0.11-ish BTC short of the mark. I have more coin on standby. Will make up for that discrepancy as soon as I get a chance, probably later tonight.  :)

Paid the 0.11 BTC remainder for Payment #2:

https://blockchain.info/tx/18360bc51fbd7f69e99b54bf946491f68ececc89b84cc35a20ae1bcb337c3dd5

Regards,

--ATC--

Thanks, received!

Agreed and sent you a PM

I don't agree :(

You just outed yourself, scammer.

So, was this ever settled? How will it go now that TradeFortress has been outed too?