Bitcoin Forum

I have USD in my bank.  I don't want to use PayPal to buy Bitcoin, because it is against the rules. 

I want in on the batch 2 Avalon ASIC.  It is not feasible to wire transfer money today.  I think I have to go through Aurum, and I only now opened an account.  It will require a document review and delay.  It won't work.

I was expressing sadness and my wife said "Honey, just use western union."  Well, she really used other words.  I love a smart red-head.

Western Union is a two hour round trip drive away, I am in a small town in the boonies, 56267, and it is, ahem, winter outside. 

http://forecast.weather.gov/MapClick.php?CityName=Morris&state=MN&site=MPX&lat=45.5859&lon=-95.9053

So I have some questions:

1.  Does it violate any of Western Union's terms if I wire USD for the purpose of purchasing BTC?
2.  Will anyone lend me substantial BTC for, say, 48 or 72 hours?
3.  The address for this loan is 12v797D55bBBBgFMcWUfRzzFWAcHxYdYzg
4.  I understand all of us can look for activity on that address at http://blockchain.info, so this is very transparent.
5.  I want total BTC funds to translate to $1,750, so that I don't run short from some surprise.
6.  I'll repay $17.50 interest in USD through Western Union next week, prorated.

I'm visible on Google.  Aubrey McIntosh.  Review & decide.

You want to borrow $1,750 and pay back $17.50? 

Sign me up!

I like that deal!

Repaying $1,750 + $17.50, or 1% for a few days.

Make a Tweet confirming that you're indeed the person you claim to be.

Good Idea.  See Tweet hashtag #ProfMac
Also, search for ProfMac in http://www.kickstarter.com/projects/1378252804/681865516?token=bfb40102

On the 1% number.  1.01 ^ 100 --> 2.7048 or about 170% annualized.
But, as they say...what is the market on something like this?

The market rates can be roughly estimated here: https://btcjam.com/ and in the Lending subforum. The rates vary depending on the risks involved and the period of repayment.

$1,750 is a lot. Maybe if you're a reputable member of the bitcoin community, you'd get a 1% interest loan for a few weeks.

I'd suggest going with something like 5% - don't think you'll get anyone to loan it through.

I love your beard man

I'd sell you some bitcoins for Western Union @ 3%+MTGox Last. You can send Western Union Online. It would be incremental but I would be able to sell you the full $2000 by next weeks time.

Oh wow.  Thanks, a lot!

I alternate between the Ghandi look, the Sean O'Connor look, and this look.

Given that you actually have the cash at the moment (or claim to) why don't you just offer to BUY the BTC and pay by bank transfer?  Or to make the seller even more confident pay by depositing cash into their account (but make sure seller has conducted transactions of that size, sending second before - as you'd be depositing the cash first due to your rather brand new existence here)?

That way you save on the WU fee and can pay a few % over spot making it worth their while whilst cutting their risk totally and saving yourself on total paid.

Obviously if you're trying to scam forget that idea - as it wouldn't allow you to.

I presume small amounts like that can be withdrawn immediately in the US (not from US myself so don't know just how hard it is getting cash out of a bank there - in the UK you can get that sort of sum immediately but need to give a day's notice in many banks for decent sized sums).

Thanks.

I did miss yesterday's purchase date, and I can just push my own USD through standard channels by next month's order deadline.  However, this seems like a good thread to detail out, as other people will have the same issue next month.  

I did learn about the lending site, btcjammer (spelling?), yesterday and it looks like there is activity there about this very same problem.  I did not sign up because of the prohibition of talking with *anyone* else who is signed up with them.  I don't want to have to run that background check before every forum posting.

I couldn't buy an Avalon batch no.2 despite having funds due to the site not functioning at all.. so I don't think you missed much.