Bitcoin Forum

I have a WAVES account with 0.72 btc bought on first day @ 20% bonus. Currently roughly 10,000 WAVES, which would cost 0.864 by the time the ICO is released. It will also get the newsletter, twitter, and facebook bounties. So the total value is guarnteed to be above 0.864.

The account is password changeable and not recoverable once the password is changed (there is no password recovery function).

I would like a 0.85 loan at 10% repayable before or on the last day of May.

Check this list but im not sure domains are good colateral for lenders to take as they can easily be recovered.
https://bitcointalk.org/index.php?topic=577765.msg6311902#msg6311902

"Some digital wares such as domain names can be considered as long as the user cannot recover it."

But after reading the guidelines, my Newbie status is probably a deal breaker.

So you think a domain with your name and address in administrative details makes it a valid and sufficient collateral to get a loan of 0.75 btc ?
Are you living in a dream mate ?

According to Estibot Appraisal, bitfomo.com doesn't even worth a single dollar

I don't think many lenders would care too much about you being a newbie if you had valid collateral to offer for this loan.
As it stands the domain bitfomo.com won't get you anywhere near a 0.75btc loan.

Do you have any alt coins?

Like others have posted, the value of your collateral is not your ID, but the value of the domain name.  That domain name does not have any value.

Regardless of what's listed as valid collateral, the only thing people really take here are altcoins--not physical goods, not domains, and most digital goods can be reclaimed.  And most potential borrowers don't have altcoins and so they don't get loans.

A lot of loans are given because of trust, and you have none yet, OP.  So unless you have altcoins or someone likes your domain you're probably not going to get a loan here.

But... its protected? Says panama....

Give the logins of the waves dashboard and let the lender change its email and password, i guess that would be a fair collateral for .72 btc
I'd probably lend you the amount if I only have the btcs.

Is WAVES still in ICO presale?
If not then that would work for collateral on about a 0.5btc loan, maybe a little more or less. WAVES is not an established altcoin yet.

Assuming the value of Waves you have, the collateral should be 120% of the loan.
If I am calculating this right, you have 0.72  BTC worth of waves (the 20% bonus can not be counted as not confirmed) the maximum loan you can have is 0.72/1.2=0.6 BTC no more, of course assuming the lender considers Waves as a valid collateral.

So you would rather take an 'established' alt coin that is liable to lose 50% of its value in a couple of days, rather than a reputable ICO coin that has a fixed cost for the duration of the loan?

You're kidding,  right?  Waves could easily go to 1 sat while waiting for the loan to be repaid and then there's a damn good chance of default.

1 sat? You must be kidding. How can it go to 1 sat when the loan will be repaid before the coin goes live? And chances are good it will at least trade at the ICO price on the first day, if not multiples higher. You are kidding, right?

If wave isn't currently trading on any exchange then its risky to accept it for collateral,because if you default and altcoin isn't listed on exchange then how lender can cover his money? he can't sell collateral if there is no exchange.

WAVES is still in ICO status at this moment, the devs do not even have a solid launch date yet. The planned launch for the testnet is "2016 Summer", therefore the live launch could be anytime in Q3-Q4. Also the WAVES guys probably going to restore the account in the case of "forgotten password" or "hacked PC" if the original owner can prove ownership by sending a message signed with the wallet from what he made the original payment. No offence to OP but this collateral is pretty much the same as e.g. a Steam account or something similar, so be careful.

PayPal is not really the best collateral because it s to easily reversible and you could just as easily have your account closed and recovered after the bitcoin deal is done.

Why are you posting on someone else's loan topic ?

This doesn't even belong in the lending section. It seems like he wants to sell his limited paypal account.