Bitcoin Forum

Hello,

What happened:: DeathProxyX took a loan of 0.08 from me on June 6, 2016 supposed to be repaid 2 weeks later. At the date of repayment he stopped replying then he said he was on a trip and needed some time, after that he proposed to send me €50 Neteller as collateral that I took in case he is going to default. He tried to take another loan of 0.12 or buy some BTC from me using Neteller but I strongly refused not wanting to lose more. He kept saying his pandabitcoin account was frozen and he will pay back when all is resolved and some other excuses everytime, until I gave hime the 4th of July as last date to pay back or the laon is considered defaulted, and here we are.

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=527420

Reference Link: Loan was taken ove PM: http://i68.tinypic.com/bdvamv.jpg
Amount Scammed: 0.08 BTC
Payment Method: BTC
Proof of Payment: https://blockchain.info/tx/0173780d7969ac7c7daf5ae881c300c94af1d7d4777434024e150d9a738a8e5f
PM/Chat Logs: http://i68.tinypic.com/icjuq0.jpg
Additional Notes: We had many trades in the past in which he was very fast to send the BTC, only this time he started to show his true colors, and exit scam, don't fall for it people.
The way I see it he bought some cheap BTC from me with Neteller disguised as a loan.

Yes, i confirm i'm late on this loan. I gave him 50 euro as collateral .

Then, i gave him 50 € not when he gave me the loan, but some week after, just for try to limit his discomfort.

I'm really sorry because he is a really good person so i hope to repay overdue as soon as possible.



* At the moment 50 euro (49.5 due to the fee) are 0.0798 BTC - https://localbitcoins.com/ad/352989/acquista-bitcoin-neteller-belgium?amount=50

As I said you buy from him and pay me back the loan, I gave bitcoins, you give me back bitcoins, clear and the collateral does not cover the loan, let alone the loan with interest and late repayment fees.

So you really thought a well known loan defaulter is the right person to give a loan to?
DeathProxyX defaulted on loans in the past, he defaulted on this one, and he probably will default on any future loans if people are stupid enough to actually lend them money.
Didn't it even one second occur to you to check where that red feedback came from? If you would have checked the reference...
Surprise, it's a loan default (https://bitcointalk.org/index.php?topic=1340291.msg13670896#msg13670896).

Doesn't make you any trust worthy around the forum.@op ,you know he's a known scammer around,if the red trust on his profile didn't convince you,I don't know what would.You have to be really dumb to give loan to someone with that shady history especially when he has like 10 alternate accounts in the forum.

Yep, he's late. And he shouldn't be. You chose to do the loan though OP, and at least it seems like he's trying to do the right thing by giving you the €50. I don't think he has any intention to scam you, or he wouldn't be trying to resolve this.

And whaddya know,  he's an account buyer.  Shit begets shat.  I think he should be tagged in a permanent shade of red if this is a pattern with him.  Yes I know, that should go without saying but I'm saying it anyway.

50 eur was worth more then the loan amount as of when the loan was made (I am not exactly sure how the OP received the collateral though).

The lender should have had a stipulation that if the price of btc were to rise to a certain amount that the loan needs to be repaid or the collateral will simply be kept by the lender to cover the loan, and then used that 50 eur to purchase sufficient btc. Or when the loan became overdue, the lender should have used the collateral to cover as much of the loan as it could as of when the loan was originally due, especially if the borrower was no longer responding to PMs

For starters, nobody should lend to someone with a history of defaulting loans. No, the lender doesn't need to stipulate anything around the price of BTC. If the borrower takes the payment in bitcoin and agrees to make the repayment in bitcoin, that's the end of it. How did this 50 (or 100??) Euro's come about? Bank transfer? Mailed him a note?

Neteller, according to OP.

As I understand OP, the "collateral" was handed over to the lender at the moment the loan was supposed to be repaid/the borrower was already late with repaying the loan.

I'm not the one accusing, OP is. Then again, this thread is titled "defaulted on a loan" and not "is late repaying a loan". Anyhow, not going to argue over words here, it makes no difference to the situation.
But if we're at it, what's about your past loan defaults, say this one (https://bitcointalk.org/index.php?topic=1340291.msg13670896#msg13670896)?
Are you also just very very late on them? It's been half a year, that's just a "late repayment", not a "default", right?

I remember this guy tried to get me to send him 1 bitcoin for his forex counselling or something, I was very wary of him, he kept insisting on me to use his "service" and offering a 30% insurance in case he loses my money. Man if I want to get into forex I prefer to lose my money myself, at least I may learn something, I think all he does is take your money say he lost it and give you back your 30% insurance and keep the 70% for himself, laziest scam I ever seen.

IIRC, He was asking for a loan on the lending section for his Jewelry Store in Italy or Spain << I don't remember this well.

He also has a few accounts under his possession and he never paid for the accounts too. Guessing this from SebastianJu's trust.